Quotes of the Day

At any given time, there are four separate influences on gold's price. The combination of these forces determines what the price will be on any given day. The four forces are: 1. Gold's fundamentals as a commodity. 2. The value of the dollar. 3. Gold's role as a safe haven during political crises (war, political unrest, etc.). 4. Gold's role as a safe haven during economic crises (inflation, market crashes, etc.). [2009] - James DiGeorgia

Internal retracements are less than 100% and are primarily used to identify the price target to complete a correction. The ratios used for internal retracements are .382, .50, .618, and .786. Most corrections in every actively traded market and time frame end at or very near one of the four key retracements. [2009] - Robert C. Miner

An escalation clause can be included in an offer and is used when a property might have multiple bidders. It essentially says, "If someone else bids higher than me, this offer will automatically increase to $X above theirs, up to a certain point." The danger of an escalation clause, of course, is that it tells the seller exactly how high you will go! Therefore, only use an escalation clause if you know there will be multiple offers, and never make your maximum price higher than what you should pay. [2015] - Brandon Turner

Negotiating a deal can only take place when there are two parties. If you wait too long, the other party may already have negotiated a deal with someone else. [2006] - Robert Irwin

If a frenzy occurs in gold, a good strategy is to sell half your position once you have doubled your money. When the ascent goes vertical and you hear about gold every night on the news, think about liquidating some of your position. Once prices move in a strong 90-degree angle, you should use a very short-term moving average to help you make your initial liquidation; here we will use a five-day MA. We want to sell when prices move below the five-day MA. Some traders will also use a 50-day or 200-day moving average to help them out of the rest of their positions. [2009] - James DiGeorgia