Monex sell call - Gold?
 

What does the roundtable make of this -

My Monex rep calls today saying that he "recommends" that I sell my position since gold bounced down off the 655 mark. He says that I should sell and wait for a pullback to buy back into silver.

First - he never called in late summer when we were all getting hammered down to 560 with such sage advice. Wish he would have.

Now - he calls when most think a break out is imminent and seasonal indicators are pointing north.

I think there's something else to it. They need people to sell out for some reason.

plus....

I think anyone would be foolish to really think your "broker" has your best interest in mind when making buy/sell calls.

Comments?

Re: Monex sell call - Gold?
 

You answered your own question. If he didn't reco you buy when Gold and Silver tanked this Summer I would just disregard his call now.

Re: Monex sell call - Gold?
 

I have had my Scotia Mocatta Broker cold-call three times suggesting a buy or options. Each time I could have made money by doing the opposite.

Re: Monex sell call - Gold?
 

Ask him what the hell is he asking you for. HE is loaning your share out already so they can short you out of your profits. Tell em to F off or you will go to a cash account and not permit them to loan your shares anymore. What a prick. What do you even have em for? Do your own trades. :s15: You don't need those people.

Re: Monex sell call - Gold?
 

I think Im going to buy as much silver as I can with a remark like that. :cooler:

Re: Monex sell call - Gold?
 

Yep

Not surprised

Yep.

I saw it as good news for gold/silver

Re: Monex sell call - Gold?
 

Sad thing is that some of his other clients will probably listen to him.:banghead:


ST