HOLY SMOKES Gold losses $5900.00 + a contract!!

[RD'S Alias - 1A]

Gold prices on the June futures contract are down 59.1 right now.

That is a $5910.00 loss PER contract!!

Maybe the economy is not as bad as I think?

Oil made a dramatic drop today so far too.

It looks like we might be starting a good sized correction!

Hopefully gass prices will come down at the pump now.

[BoulderDawg]

Of course...What did you expect?

If I'm going to gamble in the market it's not going to be on gold.....in any case some say you stand a better chance carrying your money to Vegas.

[RD'S Alias - 1A]

What did I expect? Nothing really. My system called an exit Monday morning (which protected me from this). I could see it was going to correct to some degree, I just never expected it to be THIS much, THIS fast.

The question is this, how far down will Oil go? That will determine how far down Gold will go. This may actually be setting up some fantastic buying opportunities.

The important thing is to not get overly excited. Wait untill the system says it's time to buy again (or sell, one of the two).

The current trend is definetly over for now though. We have to wait and see if there will be a new trend, or if it will just meander about aimlessly with no clear direction.

[greendragon]

oil will go down to 65 -75 a barrel. It is also the season when oil is weak. I used a double short etf called DUG to make a killing on oil today. gold will go down a little but stage a huge rally in april -may. gold will not move with other commodities because of it's ties to the financial systems.

[RD'S Alias - 1A]

What is a DUG?

My system just uses Naked Futures contracts with stop losses and exit stops.

I can also use simple options with it too, but nothing complicated as I never put much study into all the strategies.

[SPJ]

the federal reserve lowered interest rate.

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