Gold Price - Where is it heading?

[CamKawa]

The Fed will cut to at least 1% so there is still a lot of upside to POG.

If you scroll down to the bottom of this page http://www.marketwatch.com/news/economy/economic_calendar.asp you'll see another 50 points pencilled in by June 25.

Certainly POG will take out $1000 without a problem, so it's just a matter of how much further before a major correction (minimum 15%) and spell in the wilderness.

I agree my pessimism on the POG is only for the next few days. The long term outlook is good with Santa possibly bringing us all 1100 - 1250 for Xmas. I'm not ready to talk about 15% corrections yet.

 

[explod]

Profit taking.

edit 1: Have a look at Barrett's graph b/w the 22nd - 24th.

edit 2: and I reckon the main reason the POG shot up the 25th was because the rumour mill started that another 50 points were on the way.

Not sure of what you are responding to in Edit 2. ?? I often miss things.

Anyway the meeting to which I refer occurred 2 years ago and then the POG went up.

 

[ithatheekret]

The Fed will cut to at least 1% so there is still a lot of upside to POG.
Certainly POG will take out $1000 without a problem, so it's just a matter of how much further before a major correction (minimum 15%) and spell in the wilderness.

When the rate get's that low , the first thing I thought was cheap USD loans , much like the Yen rush of loans .

Taking into consideration in the fluctuations of the AUD , I'm really enthused at the prospect . The ability to repay is all that I see as a problem as I'm sure every man , cat and dog would be after them too .

For a 3% loan , I'd camp out the front of a bank for months , I for one could get 5% a month out of it and I'm sure others could too , probably better than that .

A young couple were telling me this arvo , that they had an equity loan tacked onto a homestart loan , the amount loaned was $30K starting at a variable rate though , of 3.8% . It pricked my ears up , but I don't think I'd qualify for this homestart , but I'm looking into it that's for sure .........

They have $100K fixed @ 7+% and $30K starting at the variable 3.8% mentioned , sounded good to me , but I did ask if they would be paying the $30K off as quick as possible .

I know I can walk into the bank tomorrow and get any loan I like , but the fees and interest charges are murder .

So , come on 1%

 

[Enoch]

When the rate get's that low , the first thing I thought was cheap USD loans , much like the Yen rush of loans .

Taking into consideration in the fluctuations of the AUD , I'm really enthused at the prospect . The ability to repay is all that I see as a problem as I'm sure every man , cat and dog would be after them too .

For a 3% loan , I'd camp out the front of a bank for months , I for one could get 5% a month out of it and I'm sure others could too , probably better than that .

A young couple were telling me this arvo , that they had an equity loan tacked onto a homestart loan , the amount loaned was $30K starting at a variable rate though , of 3.8% . It pricked my ears up , but I don't think I'd qualify for this homestart , but I'm looking into it that's for sure .........

They have $100K fixed @ 7+% and $30K starting at the variable 3.8% mentioned , sounded good to me , but I did ask if they would be paying the $30K off as quick as possible .

I know I can walk into the bank tomorrow and get any loan I like , but the fees and interest charges are murder .

So , come on 1%

Excuse me for my ignorance but what is the easiest way to get a USD Loan and can you hedge so that you arn't paying more in repayments with a declining Aussie Dollar.

 

[ithatheekret]

Try the web , loads of US banks advertising , hedging , you could try options .

But a financial adviser would be your best bet . The licences I have I don't want ........

POG on the other hand is acting like a currency all by itself , so the charts say lately

 

[ithatheekret]

That was beaut , looking for a reversal don't know how much steam is left at present , following the charts you need sea legs ...............

Thanks Ben .

 

[barrett]

Nice buy signal there.. I had noticed volume starting to pick up on the upswings there at the bottom, which hadn't been the case for the earlier part of the day.. & another bounce off the pink neckline, a good sign..

Great interview on Bloomberg, this dude is bang on the money IMO and doesn't mince words about it
http://www.bloomberg.com/avp/avp.htm?clipSRC=mms://media2.bloomberg.com/cache/vGNTM73VTBuo.asf

 

[ithatheekret]

Sorry mate I'm a christian , you heretic

It's moving and both ways works fine , little but often I was told as a kid , I listened now I've got 4 Closed these already , I'm game but not that game ............ missed the top short but managed the other close near it .

(watch it bounce around , pressure from the Dow futures and the Bond Insurer news ??? )

I have another string well above .But would be awfully tempted if it wains again .

 

[ithatheekret]

Unreal instrument this shiney yellow stuff , 2year under 210 as well ........ lousy US data and a platform gives you a licence to print your own money hey ....
It's gonna be a long night by the looks , heads down , wallets up and you could make decent living out of this work .

 

[barrett]

Excuse me for my ignorance but what is the easiest way to get a USD Loan and can you hedge so that you arn't paying more in repayments with a declining Aussie Dollar.

This isn't the only way, just the only way I can think of.. a 'synthetic US dollar loan' by borrowing in $A and buying AUD/USD contracts to an equivalent value. Assuming no currency movements, the net interest rate gain on the contracts would cover most of the interest on the $A loan. Importantly the cash flow from the contract wouldn't be guaranteed, and certainly not steady.. but to manage currency risk you could have a fairly tight sell stop on it and if the $US persistently moved against you, move to a different currency spread. Maybe not the most stress-free way of financing the family home, but possible, with a forex account and a big jar of valium


oo, didn't like the volume on that big selloff just now..

 

[ithatheekret]

Crashed as I refreshed eek .

Looks better with the Ichi reading overlayed , might be able to dig something out of it .
This poz is gone , for reversal . If I can do this anyone can .

 

[Real1ty]

That was a good interview barrett , thanks for that.

Sitting up watching my short on a Wheat contract, so will also be keeping on eye on this thread and the POG.

Dow looks like it could possibly be a tank tonight, although too early to call but is down 125 as i type.

No technicals here, only gut feel, but have the feeling there are many been waiting for a sign to take gold profits and tonight if the Dow tanks, might just be the excuse that's needed, not too mention cash flow for those margins

 

[ithatheekret]

Anyone on that swing ? Bl@@dy marvellous .


The Dows just started to recover , thanks to you know who and I don't mean Ben or George . Nearly missed it , got one of Waynes videos running , been going for yonks WAYNE , reckon it will take half a day to get through them , good stuff though . Is there an intermission ?

 

[ithatheekret]

last run on POG for me I think , might get a quick buy back in before nanny nap time . Had a couple more in but covered too early .

 

[ithatheekret]

Vanilla Ichi settings are working a treat , makes calculations so much easier , some good tech trading out there .

 

[ithatheekret]

Sorry forgot the chart , but hey it's 5:20AM here .

 

[ithatheekret]

One last short play shot waiting for another to fill the list , probably won't get it and will have to make do .


Tenk will cross from above soon too , might have to be very quick here .

 

[ithatheekret]

Covered bar the peak poz . took this screen shot just prior . It's tempting to hit again but greed can take over from logic and prudence .

 

[ithatheekret]

Sorry no I added , crikey , clean this up and bed next I think .

 

[ithatheekret]

It looks like the Tenk is going to cross from underneath , mid cloud around 925.65 on the chart price tad higher at present , but it looks like it might want to go pop ...... as in out of cloud and up again .