explod
explod
- Joined
- 4 March 2007
- Posts
- 7,341
- Reactions
- 1,198
Not fighting any action, gold will go where gold goes. Nick (for whom many ramp on these forums) has no more idea than anyone else. You have still not addressed my question., ?
Nick Radge - The Chartist - sees the POG down to seven hundred easy, even an eventual six hundred not outside the realm of possibility & he backs it up with EW theory. looks like I am not alone in my bearish outlook any more. but if you want to fight a rearguard battle, be my guest. only that this is not a correction any more, it's a rout.
the 20% increase by the way, is not impressive compared to just about any other commodities. yes I know, gold is the alternative currency to the fiat-currency. that'll be the day!
Not fighting any action, gold will go where gold goes. Nick (for whom many ramp on these forums) has no more idea than anyone else. You have still not addressed my question., ?
For the second time today, I would point out that gold is up 20% since this time last year and this is how it has behaved since 2001 and there is no reason to believe it will change that behaviour. In fact it has had a larger correction than this around 2006.
there I agree with you, altho I would not go so far as to say that they have no idea.
Yes but this is the thing that always stumps me. How in the hell do the GOLD BUGs make money on their love affair?? Most don't know how to trade Futures and certainly not long dated Fut options.
Most? That would be an interesting set of data, where is it?
I'm neither but I am intrigued with one sides love affair with their unfaithful partner.The conviction of the 'bugs' is only matched by the assumptions of the doubters I guess?
Purely an assumption as it seems the only people that play with the Futs or a linked CFD are traders (shortish term) not the fundamental gold to $3000 dollar players.
As always I'm probably wrong. But put your hand up if you trade a gold derivative over any period longer than front month?? I don't expect to hear from many.
I'm neither but I am intrigued with one sides love affair with their unfaithful partner.
Yes but this is the thing that always stumps me. How in the hell do the GOLD BUGs make money on their love affair??:
No because when I trade I have stops that never get moved down. Unlike some of the gold bugs. and Yes I do trade gold. Both stocks from 03 till last year and Futs all the time.You wouldn't let your bias get in the way of a trade on gold would you? You do trade gold?
Yes Uncle I understand that. I just don't understand how you translate that into profit in the medium to yet to be played out longer term. Thats allWe're not all gun toting survivalists hoping for the end of the world, just probably calculating that the world could be a very different place for a few years yet, and don't trust the clowns in charge of it generally to deliver us from salvation.
So what does that leave?? Gold producers/explores. And they have been rubbish for the last 2 years!!
That was my point. That they have ran up but anyone that is in love with Gold reckons its going to go nuts and wouldn't of sold. They most likely have been in for the ride up and then all the way back.Not sure that I'd agree they've been rubbish for the last two years. Quite a lot of money was made on explorers and near producers from earrly/mid-07 up until around Feb-08. Since then its been rather painful though ...
Yes I agree. But at least you express disappointment which is the norm in this game. Some here will only blame "manipulators" but never their "partners" for the gold/gold stocks under-performance. I am intrigued by their love for something that has actually not rewarded them as far as I can see. Am I missing something other than "I'm in for the long haul"? Where has the love come from?I am pretty dissappointed at the extent of the selldown of gold stocks in light of the fact that the AUD gold price has continued to remain very strong compared to 12 months ago and the gold price has performed relatively well compared to some of the base metals for example (Zn, Ni etc.).
Am I missing something other than "I'm in for the long haul"? Where has the love come from?
Stop moved to $822.
Gold usually always shows strength during Ramadan.Gold showing strength after NFP, might get pinged on this one.
Dear Friends:
As you can well imagine, I’ve been receiving many phone calls and emails during this recent downturn in the gold market. Because of my heavy workload, I can’t guarantee to respond to all your queries, however, I will attempt to address questions of general interest on the jsmineset website.
The entire minerals sector is presently under attack by organized short sellers who depend on demoralizing investors to achieve their profit goals. These are ruthless zealots who flaunt the law to achieve their devious objectives.
G to www.failstodeliver.com and enter the symbol of any US-traded company to see the activity of naked shorting based on figures from the Securities Exchange Commission.
As far as the gold market is concerned we are in the middle of “Operation Keep the Hill” in which every stop has been pulled out to paint a picture of improving business conditions and permanent, declining inflation because of supposedly lower long term energy and food prices.
The big six investment banks are forecasting a 3% improvement in consumer demand as sentiment improves due to the supposed drop in inflation. The improvement in share value of some financials - based on nothing but hype - is held up as proof that the credit problems are behind us regardless of Lehman being busted while Fannie and Freddie are hopeless hulks in dire need of camouflage.
The Federal Deposit Insurance Corporation (FDIC) is getting to a point where they need recapitalization, with 199 banks on the troubled list and probably a lot more to come.
The Securities Investor Protection Corporation (SIPC) is a joke capitalized at $1.5 billion yet they are still quoted as the guarantor of all security values at all brokerage firms.
Fundamental factors remain in a downward spiral while black boxes, spinners, the big six and all financial TV and radio stations blare out that “all is well.”
I have lived through these major manipulations before but this time it is happening in every market, with shareholders feeling the heat no matter what kind of equities they are in. In my opinion, when the dust finally settles the last people standing will be those in gold equities
In today’s news the following items are particularly newsworthy:
U.S. Must Buy Assets to Prevent `Tsunami,' Gross Says (Update3)
By Jody Shenn
Sept. 4 (Bloomberg) -- The U.S. government needs to start using more of its money to support markets to stem a burgeoning ``financial tsunami,'' according to Bill Gross, manager of the world's biggest bond fund.
Banks, securities firms and hedge funds are dumping assets, driving down prices of bonds, real estate, stocks and commodities, Gross, co-chief investment officer of Newport Beach, California-based Pacific Investment Management Co., said in commentary posted on the firm's Web site today.
``Unchecked, it can turn a campfire into a forest fire, a mild asset bear market into a destructive financial tsunami,'' Mr. Gross said. ``If we are to prevent a continuing asset and debt liquidation of near historic proportions, we will require policies that open up the balance sheet of the U.S. Treasury.''
More...
Lehman May Shift $32 Billion of Mortgage Assets to `Bad Bank'
By Yalman Onaran
Sept. 4 (Bloomberg) -- Lehman Brothers Holdings Inc. may shift about $32 billion of commercial mortgages and real estate to a new company that will be spun off in a move similar to the good-bank-bad-bank model used in the 1980s banking crisis, two people briefed on the discussions said.
The bad bank, nicknamed Spinco for now, would have about $8 billion of equity coming from Lehman, the people said, speaking on condition of anonymity because the plan is one of several under consideration. Spinco would borrow the remaining $24 billion from Lehman or outside investors. The New York-based bank would replace capital put into Spinco, whose shares would be owned by current Lehman shareholders.
More...
Respectfully,
Jim Sinclair
I have been sceptical of some of the conspiracy theories, but on seeeing how the overnight gains, particularly silver were wiped out by the end of US trade my views are changing.
I think a thread and submissions to our government on shorting is my next objective.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?