Philadelphia Gold/Silver Index.
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     giovanni
Member
Username: giovanni
Post Number: 71
Registered: 11-2003Rating: N/A
Votes: 0
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| | Wednesday, February 02, 2005 - 09:58 pm: |  
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Hello Traders,
I was just wondering about the high volumes in the XAU
esp. in the billions. Does anyone have any idea what this means? Is this in anticipation of POG going up?
kind regards,
Giovanni  
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fox_terrier
Member
Username: fox_terrier
Post Number: 323
Registered: 10-2003Rating: N/A
Votes: 0
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| | Thursday, February 03, 2005 - 08:07 am: |
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Hi Giovanni,
Where you been lately? Thanks for bringing this to my attention as i haven't looked at this chart for a few days.
Like all TA it is a matter of probabilities. It could be the smart money getting in or out. It would be great to know if the big boys are the buyers or sellers.
Even if they are selling it is not danger time yet. In another thread i wrote that i agreed with a broker analysis that the POG may do nothing or even decline to $US400 in the next 3 months. If the big boys believed this, that could be enough for them to take some money off the table or even short. As i am not privy (read - can't find) to a lot of the info that will effect POG short term i am still long with both eyes on support levels.
You will note that the XAU is on support 90-92 at present. Next meaningful support for me is 83-85. If it gets this low and continues down i would be bearish, it it gets this low and bounces i would need to reassess based on the bounce height and strength.
These are only my thoughts and i could have it completely wrong.
Cheers
FT
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giovanni
Member
Username: giovanni
Post Number: 72
Registered: 11-2003Rating: N/A
Votes: 0
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| | Thursday, February 03, 2005 - 03:35 pm: |
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Hi Fox!
Sorry for the delay in responding. How thoughtful of you to notice my absence. It has been a while since I last wrote something in the forum. I basically needed some time out to learn a trading system that I was comfortable with. I found it all too tempting to read what other traders were using (indicators/styles) which was starting to effect my trading decisions. I can now happily say I have found my system that I am comfortable with and look forward to reading and writing new posts in the future. Just finished reading Guppy's "Trend Trading" and strongly recommend it to anyone interested in trading with the trend.
As for the XAU it looks very interesting and I will monitor it in due course. Look forward to your posts in the future.
kind regards,
Giovanni
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hailoh
Member
Username: hailoh
Post Number: 94
Registered: 04-2003Rating: N/A
Votes: 0
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| | Saturday, February 12, 2005 - 01:16 pm: |
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The high volumes on XAU really distort analysis of prior volume/price relationships. It would certainly be interesting to know what has been happening. Setting up a gold based investment fund?
I see the relationship as a bullish wedge (monthly chart attached), with the current price near the lower trend line. There is room for the price to move higher and lower and the pointy end could be some time away yet.
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