Wednesday, March 14, 2012

Turd Gets It; So Do I

I don't read much technical advice.  I don't need to.  In fact, when I do, I start using other people's advice and confuse what I see.  It's not that I don't like to listen to them from time to time, but I don't day to day.  Once a week I will go to Turd's site, KWN, and the like to hear what the tech heads are seeing, but most of the time, I do the work myself.

Awhile back I remember Turd saying gold would go to $1640, which was lower than my target of $1680.  I was right until today, but it did get bottomed out.  The interesting thing is that Turd is now saying he was wrong.  Why?

Because it is a timing issue, and as time goes on the long term average moves up with the ever ascending price, so once it got to the trend line, and it moved from $1680 to $1640, Turd was wrong.  But this is not a big issue if you are buying physical, like me.  It is an issue if you are playing futures.

This is why I like buying physical.  So I hit my target of $1680 and used my dry powder.  I will have more powder soon, and hopefully the price stays low so I can get them more discounted than I counted on.  The great thing is however, physical is for holding ounces, and although we all want the best price, the end result will not matter, as I want as many ounces as I can have by the end of the Fiat Ponzi.

So for the Turditers on this site, Turd was right overall, even if he says he is wrong.  He is right in my book because the price did go to where he wanted, even if not in the time frame he outlined.  And I did get bottomed out, but I always do.  The important part now is stocking up before the next up move, and by the look of the charts, that time is fast approaching.

We will likely trade between $1650  and $1700 for a week or two.  I think around the Spring solstice we will begin to move higher.  I also expect the next up move to take out $1900.  Also, I don't expect to move any lower than here.  Just my opinion, though.

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