it seems to me that when the yen strengthens gold shows weakness at the moment and visa-versa. Is selling/buying the yen for gold the major factor in the gold price at the moment?

One other question: do you have any thoughts on the Iran Euro OIL bourse?

Many thanks
Love your site

hopefullyme

All-

The Boys are about to take another run at the 540-45 level.

buying right now is at high risk but will produce the best rewards IF IF there is a bounce. i would not commit too much money here but will be buying some. watching ptry here...carefull low vol. stock..i would not recommend buying more than 500-1k shrs....no market orders.

Who can tell me where this quote came from?

(Chapter V) … “I think it was a long step forward in my trading education when I realized at last that when old Mr. Partridge kept on telling the other customers, “Well, you know this is a bull market!� he really meant to tell them that the big money was not in the individual fluctuations but in the main movements – that is, not in reading the tape but in sizing up the entire market and its trend.�

Me. "Reminiscences of A Stock Market Operator" LeFevre

Boys this is Crash-up on Commodity Highway today.

Here's another Jesse Livermore nugget:

(Chapter V) … “And right here let me say one thing: After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying and selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine – that is, they made no real money out of it. Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance.�

(Chapter V) … “One of the most helpful things that anybody can learn is to give up trying to catch the last eighth – or the first. These two are the most expensive eighths in the world. They have cost stock traders, in the aggregate, enough millions of dollars to build a concrete highway across the continent.

In a nutshell; patience and conviction - two qualities of both Livermore and Cara.

Black Boxes losing more money is what it is.

Bill, I'm a bit confused - at one point you said to tighten stops on gold positions, but then when gold was dropping 20+ points, you said don't get shaken out. Would appreciate clarification.

dt43-

I'll let Bill weigh in on this for himself but I understood his advice to tighten stops was for TRADERS. This is due to the increased volatility we are seeing. For those going with the trend, we just hang on til it hits $850 and above.

Japan suddenly showed up on folks radar the past few months, after being neglected for years. Kind of like gold. I don't see any reason for concentrating investments in either.

"Gold is the best form of insurance when you're not sure what you're insuring against" Fred Sturm Ivy Global Natural Resources Group - 2.5 Billion in Assets

I found this gem last weekend. It makes me laugh every time I read it. I'm as confused as anyone on which move is best. There are too many shenanigans on the world stage today.