Australian (ASX) Stock Market Forum

Gold is officially stuffed - $350 target now!

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professor_frink said:
I think that's the funniest thing I've ever heard :D

"sell gold and oil and buy stocks! What are you waiting for? Free market capitalism is the best path to prosperity! BUY, BUY, BUY. All news is good news. All dips are buying opportunities. BUY, BUY, BUY!"
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Professor Frink,

Please be assured that I didn't cut out my Fox Pay TV because of The Simpsons. I love watching them on 10.
Have a good weekend everyone!
P.S. Go VMS.
As always, do your own research before buying/selling.
 
professor_frink said:
All dips are buying opportunities. BUY, BUY, BUY!"
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M8 - that's what I did in May, and ... most of my money has gone "Bye-Bye", lol
(I should add - temporarily went bye-bye - back again at last lol) phew. ;)
 
Latest opinion polls have George W Bush and the Republicans back in front. Thank God for that - he will go down in history as the greatest President ever - freed Iraq from a Dictator and won the war on terror.

He is my hero and I wish I could meet him one day to bow at his feet. The world has never been safer.
 
Hi all, this is a funny post, hehehe.... Have a read of this, or am I missing something....

"When you’ve been trading the gold market for nearly 30 years like I have, you develop a sixth sense for the precious yellow metal.

You can hear it speak to you. You can feel its rhythm. You can interpret its signals. And let me tell you, gold can anticipate otherwise unforeseen events better than any other investment I know of.

Gold’s recent rally back over $600 an ounce is telling me that all is not well with the world ... that a financial crisis of major proportions is about to strike. The forces that could precipitate this crisis are varied:

The stock market is now at unjustifiable levels based on earnings, dividend yields, relative strength, and more;
Real estate is in shambles;
The country’s national debt is off the charts;
Economic growth is slowing;
Inflation is still picking up steam;
And the threat of another terrorist attack on U.S. soil is still an unfortunate possibility.

Now, I don’t know exactly when the crisis will hit or what shape it will be. It could be tomorrow, next week, or next month. It could start with derivatives, a hedge fund, the bond market, or in some other over-leveraged, overly speculative area.

But whatever it is, I repeat my warning: I see a crisis on the immediate horizon, and it won’t be pretty.

Gold is already signaling it, but when the crisis strikes, the yellow metal will fly through the roof. So will gold shares."

Call me old fashion, but I'm inclined to believe this guy...
 
To me, gold is still showing signs of forming a bearish triangle. If the current rise turns back from the A$840 level (about US$650), then I won't be buying for a while.

Cheers,
GP
 

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Yes I agree GP, you would almost think it will retrace after bumping off that $650 AUD level to around $550, before resuming its upward trend IMO. I am not a big TA guy, but have learn't to respect TA. Interesting too the 12 26 9 MACD on a weekly chart very bullish indeed.
 
thestorm said:
I watched Foxtel this morning and all the experts on CNBC were confirming the last rites for Gold.

George W Bush is now presiding over the greatest economy ever and will lead the DOW to its greatest rise ever. All hail the mighty George W and the Republicans.

If the Democrats get in then Gold could go as low as $200 so you all better hope mighty George wins next Tuesday's elections.
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So what you're saying is that the Republicans are presiding over the greatest economy ever but the Democrats would do even better. Hmm... :rolleyes:

As for the experts, better pile into the NASDAQ in the year 2000 and keep clear of oil stocks at the same time. And don't forget that real estate always goes up, even though it's doing the opposite in many places right now. Just remember the golden rule - oil is always under $20 a barrel, gold prices always go down, interest rates always go down, real estate and stocks always go up.

Just remember those rules. Some of us, however, prefer to ignore them and make money instead. :2twocents
 
thestorm said:
Latest opinion polls have George W Bush and the Republicans back in front. Thank God for that - he will go down in history as the greatest President ever - freed Iraq from a Dictator and won the war on terror.

He is my hero and I wish I could meet him one day to bow at his feet. The world has never been safer.
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I think thestorm is suffering an unhealthy obsession with dubya :eek:

Think he/she is here on a windup :)
 
thestorm said:
Latest opinion polls have George W Bush and the Republicans back in front. Thank God for that - he will go down in history as the greatest President ever - freed Iraq from a Dictator and won the war on terror.

He is my hero and I wish I could meet him one day to bow at his feet. The world has never been safer.
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all hail the anti-christ! i think you are safer without him stormy.
 
thestorm said:
Brilliant employment numbers from the US, exceeding all expectations, have put the final nail in the coffin for Gold.

Lowest unemployment for 5 years proved that the Republicans are the best at running the economy.
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Your a goose!

heres a quote from a book called 'why we want you to be rich' by Donald Trump & Robert Kiyosaki: from bottom of page 73.
2. A growing U.S National Debt: According to the Treasury Department, 42 Presidents, From Washington (1789) to Clinton (2000), borrowed a combined total of $1.01 trillion from foreign governments and financial institutions. Between 2000 and 2005, the Bush White House borrowed $1.05 trillion - more then all the previous administrations combined
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So what were you saying?

I suggest you pick up this book and read it... or at least read the chapter that I got this from as it puts your comments to shame!

Also If your going to make predictions about the stock market, gold or share prices please give good reasons to back what your saying. 'oh the expert told me so' is not a reason!
 
I don't think this guy understands the function of this forum, or it's posting rules. Destined for a permanent holiday. Surprised he's not packing now.
 
High employment in an economy is inflationary.
If, gold is an inflation hedge, then, rising employment figures would imply a rising gold price.

Employment however must be taken in context with productivity figures as, spare capacity within productive capability can scrub the inflationary effects of high employment.

Therefore, as usual, one economic metric, taken out of context, misinterpretated, results in an erroneous conclusion.

jog on
d998
 
ducati916 said:
High employment in an economy is inflationary.
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What a ridiculous statement. So Bush does a brilliant job getting everyone in America a job and then Gold goes up?!!

How laughable. :D
 
havnt got that far in yet but some of the info, such as the above is quite startling and interesting I must say. The first 5 or so chapters of the book are much like that, giving their veiws on the economy (world and US) and the reasons for them. quite concerning really.
so far Im enjoying the read.

cheers
 
kennas said:
I don't think this guy understands the function of this forum, or it's posting rules. Destined for a permanent holiday. Surprised he's not packing now.
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KENNAS
We've already lost our leading clown (REALIST) who is on holidays :banghead: we need someone to amuse us while he is away :p:
 
justjohn said:
KENNAS
We've already lost our leading clown (REALIST) who is on holidays :banghead: we need someone to amuse us while he is away :p:
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Yeah, you're right. I suppose it does lighten things up a bit if taken the right way. :rolleyes:
 
What a ridiculous statement. So Bush does a brilliant job getting everyone in America a job and then Gold goes up?!!

How laughable
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With a moments thought, very easy to understand.
People with a job earn money.
They spend money on goods & services.
This creates demand.
Demand, unless it can be satisfied via increased supply [the margin within productivity] will lead to higher prices....inflation.

Inflation being defined as; decreased purchasing power
As previously stated, if you believe gold to represent an inflation hedge, then it is rational to expect gold to rise in price......as you have rising inflation.

jog on
d998
 
you're well named storm, how many other threads have you got everyone biting? Were you bored or r you really this dumb? I saw your efforts on NWR. :eek:
 
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