El Dali

I believe it has something to do with GM being based in Jersey, British Channel Islands. I think it was caught up in the recent international moves to further regulate outlying areas where it was thought tax evasion and money laundering was taking place. That's the official story as far as I know, others might be able to fill you in on more detail. I thought it was odd at the time, and it did seem like a change in "terms and conditions". I am now using BV to hold dollar funds.

I bought my gold bullion back at Goldmoney this morning. I'd previously sold at about 1100 nominal thinking it was overbought and missed the run to ~1215. Felt like a bit of a d1ck for a while.

I think it could correct a fair amount from here, but feel quite good (warm!) about holding some Au again . I wont trade my gold bullion again.

RH, i havn't used bullionvault before: are they alright about keeping USD cash in there indefinitely? I was considering opening a USD cash account for a little while but this could be a nicer way of doing things as it's a trading platform too...

I haven't stopped averaging in either, but I have slowed the amount I average in at-esp in gold. But still chipping away. It seems foolish to be holding the Yen bag for too long. I am holding onto my dollars as Prechters call here seems straightforward sense to me. Probably at least till Autumn if not longer. Long term, dollar bear of course, in due course after everything else, so no hate mail please dollar haters.

 

 

All up, I'm thinking of splitting my dollar reserve funds at GM between silver and gold over the next few weeks. Very timely dip I must say.

 

 

Dont you see dollar rising and pm's sinking a little more, a little longer? Perhaps keeping your powder drier for longer would be good advice (your own advice after all) notwithstanding your problems at GM.

I agree. I'm also in cash with goldmoney (got the same email and told them if i dont buy gold back before their "requirement date" i'll happily take my money to BullionVault), so holding out a little longer. But just a little longer. I'm not buying silver as i think it'll get bashed in deleveraging : with that said I understand RH's silver/USD hedge and think thats def a nice play. I'm entirely in cash now, but will buy my gold and hedge that by shorting indices when the right setups arrive.

Not actually too fussed about nominal price of Gold anymore because the real price will rise when commodities get their (IMO overdue) correction.

Under 1050 nominal i'll really think about buying Au again. Under 1000 and i'm in again for definite. Although i feel it could correct more than that i'll feel nice being in Gold again.

hey, hoped to get more feedback on this idea! what's wrong with it?? If nothing why don't you all do it!! LOL

Trading margin can make you alot but you can lose alot too, and faster than you think. I'd say its important to get practice with low stakes so that you're not bricking it when things don't go your way, and believe me that will happen at some point.

Not trying to put you off or saying dont do it, but be real careful and keep stops tight. 3K might be profit bt its still 3k right? Wait till the trend is your friend too. As said before if you're buying ONLY buy the dips or you'll be upside down before you start.

All the best .

You articulate my own thoughts on reading about Pixel8r's new site.

 

It seems like an attempt to gather like-minded sycophants who will do little more than reinforce one another's opinion while avoiding "nasty" posts, i.e. ones that do not concur with the "gold is on an exponential trip to the moon" shade of opinion.

 

The value of GEI, imo, lies very much in the opposing views that are presented.

 

If ever it were to become a site where more or less everyone agreed, that would be the signal for me to move on.

Might be no bad thing. Diverting semi-religious dogma elsewhere. Personally i prefer a spectrum of opinion.

More learning and collaboration, more respect, less egos.

Good luck Pixel8r.

The Dubai event was the catalyst I needed to finally go long dollars. Bought this morning. Will be interesting to see if this is a market changer.

Mind me asking what price you bought at Romans? Was it dollar index you bought?

Must admit I have had conflicting emotions about it recently.

No way Chaz. Its a good decision. Unequivocally.

Fanny and Freddie shares continuing to be absolutely caned.

 

This has US Northern Rock written all over it.

 

"Cannot be allowed to fail" ............. I think Narco's avatar says it all.

80bn capital supporting 5tr loans. Sounds like insolvency to me.

It is a common misconception today that an interest rate rise must be negative for the POG. Throughout the course of the 70's as interest rates were being raised... so too the POG went up. No doubt we will see history repeat.

 

Let them raise their petty rates and watch them recoil in horror as that orthodox instrument fails to vanquish the vampire of inflation.

You're quite right!

Only Volcker-style moves can do gold ant real damage. Helicopter Ben just won't do that. His Keynesian upbringing means he can only continue to debase the dollar in an attempt to deavalue his chums debts.

I think REAL interest rates would need to be 4-5% to turn Gold bearish.

I would have expected the Euro to strengthen and the dollar to weaken. The weaker dollar should then push gold, oil and other commodity prices up (since they're just alternative 'currencies' nowadays)

 

But, the dollar has instead strengthened by 1% and thats reflected in just over a 1% drop in gold. So this gold drop is just a dollar story!!

 

With oil up at 146 before the Eurorate decision, the PPT perhaps couldn't allow another 2 dollar jump in oil after the Eurozone decision?

 

...the devil in me is now half expecting investors to see through this (once they've ragained the composure today) and there may be a counter rally...

My thinking was simply that a move by (any) central bank toward mitigation of inflation will have a temporarily detrimental effect on Gold.

Simply because Gold is the classic inflation hedge (the best there is!).

Bigger picture : This makes no difference IMO, (providing the FED don't raise rates in a big way) Gold will fly in latter 1/2 of '08!

927... also small rally on stocks

Is this effect on Gold not pretty much what we should be expecting with an ECB rate rise? Will be interesting to see where hard support lies....

I am still awaiting my SPX-1450-ish target, before shorting

 

The chart target looks almost too good ... update

Nice recent action in PMs. Which charts do you guys use to look at intra-day volume?

PennWest is my largest single stock holding. Buy it and forget it.

Zapata loves this one doesn't he?

Almost $34 today. Still a screaming buy? I think perhaps - the fundamentals are so strong aren't they?

We are in the post capitulation despair phase

 

http://www.moneyweek.com/file/45859/uraniu...-companies.html

Woah - just seen this: http://www.pr-usa.net/index.php?option=com...28&Itemid=9

Uranium Participation Corp closes Public Offering.

http://bigcharts.marketwatch.com/quickchar...p?symb=ca:TSE:U

Not sure what this actually means. Does it mean we can't invest any more? I had my eye on this....

Art is a way of storing wealth.

 

But I would suggest you have to look at what type of art thrives in a recession and what thrives in a boom.

 

Record picture prices signal the end of a boom.

 

Saatchi finds a young artist he likes, buys all his work and then promotes the heck out of him or her. There is a scacity of work and Saatchi's collection soars in value.

 

I've said it before, but comedy thrives most in a recession, as well as certain types of theatre. Look at the 1930s and the 1970s

What an interesting point on the comedy.

Fair enough. I still hold my target for $25-$30 over the next few months. See also: http://gold.approximity.com/gold-silver_watch.html

Good link GF, Thanks

Ask yourself whether the fundamentals are still in place. If so, are you happy with the amount you have in it, or not? If yes, then keep it.

 

I can assure you I just 'lost' quite a bit too. But I don't care, it will go higher at some stage. I am holding physical silver, and I am very happy with it. I am planning on buying more in the form of scrap coins.

You're quite right Goldfinger. Fundamentals for PMs are still so strong!

I've have sold some of my Silver now though. I have wanted to get shift to gold more for a while Mainly because of Silvers 'straddling' status between 'money' and 'base metal commodity'. (held Silver in a big way since $13 so it's good, just wish i'd sold @ 08:00 this morning).

I personally have more confidence in Gold from here onwards. And in gold juniors too...

Opening a GoldMoney account asap.....

 

 

Now THAT'S what I call a smackdown.

This is horrible. I'm heavy Silver. Knew i'd need to sell it and bail into gold when the gold pricw pulled back. Only just logged into computer again and just seen Silver price.

Who thinks this will regain some ground? Or is this a big sell-off?

Yes. A HUGE drop in UUU.

All I can say is: I'm glad I own calls, rather than the stock itself.

I still like the look of Uranium, but an individual co. sometimes gets hammered for reasons like this

That is a big hit. What actually happened here?

Don't see this a buying opp right now then Dr. Bubb?