Well was it the top in POG - Gold Index's and the DOW
It was a huge reversal day on big volume
and they all reversed at about the same time
Has reality finally hit?
Tonight and Monday may give the clues
Well the top might be in the POG!!!
I bought some shares today.
I have said and still believe the US gold Indexs are still joined to movements in the general market.
So until reality hits everything the Market and POG may keep rising.
When reality does hit will everything fall
Well was it the top in POG - Gold Index's and the DOW
It was a huge reversal day on big volume
and they all reversed at about the same time
Has reality finally hit?
Tonight and Monday may give the clues
"October 11 excerpts:
(from Bloomberg) --
Gold rose to the highest price since 1980 as a decline in the value of the dollar boosted the appeal of the precious metal as an alternative investment. "Gold is gearing up for another rally," said Paul McLeod, vice president of the precious-metals department at Commerzbank Securities in New York. "It's moving with the dollar, but it's also gathering its own momentum." Gold is headed for the seventh straight annual gain as the dollar has fallen 7.7 percent against the euro this year. "There's technical buying, there's investment buying," said Carlos Perez-Santalla, a gold trader and president of Hudson River Futures in New York. "Long-term buyers are coming into the market who are holding and won't sell for a quick profit." Dennis Gartman, a trader, economist and editor of the Suffolk, Virginia-based Gartman Letter, today advised clients to buy the metal once spot gold rose above $750 or topped 530 euros. "People prefer the security of gold," said Walter Otstott, a senior broker at Dallas Commodity Co. in Dallas. "Investors are losing faith in the resiliency of fiat currencies." Adjusted for inflation (see chart), gold is still below its all-time high, some analysts said. Based on 1980 dollars, the January 1980 record of $873 would be $2177 today. "Based on inflation-adjusted dollars, gold still has a long way to go," said Perez-Santalla of Hudson River Futures..."
http://www.ameinfo.com/134334.htmlConsequently, I expect commodities to continue to out-perform financial assets including equities - although I admit that gold is now significantly over-bought from a near term perspective (as is the dollar over-sold).
How would gold perform in a deflationary global recession? Initially gold could come under some pressure as well but once the realization sinks in how messy deflation would be for over-indebted countries and households, its price would likely soar.
Therefore, under both scenarios - stagflation or deflationary recession - gold, gold equities and other precious metals should continue to perform better than financial assets.
How many gold bulls believe the world stock markets are not in a bubble at the moment.
Or will it be next Tuesday and Wednesday?Well was it the top in POG - Gold Index's and the DOW
It was a huge reversal day on big volume
and they all reversed at about the same time
Has reality finally hit?
Tonight and Monday may give the clues
Or will it be next Tuesday and Wednesday?
You'll be a genius one day bean...
Well I bought Macmin and Conquest today but they are silver
thats BEAN lagging hasn't it got some catching up to do to POG
What's the budgie say Kauri?Looking for a fifth wave in this one... around$800 would be nice..:
Cheers
.........Kauri
Foreign curencies look like they may be ready to retreat here for a while, could be that POG does likewise in the weeks ahead.
(Oops should have not said that- the Gold bulls will be out in force with all the fundemental BS again)
Where is the BS in fundamantals? The retreat in the Aussie dollar put the Aussie gold price up $10 overnight, where is the retreat for gold.
Fundamentalists deal in the why, how and now which I would argue is also technical. Most gold bugs deal in both anyway. They are also usually, ion ore bugs, lead, nickel, uranium, oil, gas, food and any other thinggy that is going up bugs.
You need a stronger can of fly spray.
What's the budgie say Kauri?
Still on the wrong side of the trade, huh?Foreign curencies look like they may be ready to retreat here for a while, could be that POG does likewise in the weeks ahead.
(Oops should have not said that- the Gold bulls will be out in force with all the fundemental BS again)
Still on the wrong side of the trade, huh?
What trade might that be Chops???
The only trades I am in ATM are short positions in the DJIA
You've been calling a sell on gold since 720.
Mate, you're embarrassing yourself.Is that right??????
Are you quoting the sell I made last year when it fell over $100??
Chops, I think you might have some problems, perhaps you should stick to something your good at like philosophy.
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