CIGA

http://www.starships.com/Music/Streaming/R...Take_Off_sm.aif

let's hope this is lift off from the bottom!

http://www.starships.com/Music/Streaming/buzz_sm.aif

The KEY here is not to get 'religious' on this.

Folks we need to analyze what is going on scientifically.

Scientifically I see hell on earth.

Gold and Silver are dying a death and noone can give a reason why.

LOL

Not even Jim Sinclair can explain this hell - he has banned trader dan from posting the technical massacre.

800 is current support.

We are touching or DROPPING below a 300dma which has not been seen for years.

Either this is THE bargain of the century or the financial world has gone crazy.

Recommendation:

Fundamentals in tact

smokescreen

blood on streets

back up the truck

BUY GOLD BUY SILVER

Now.

I am seriously thinking of releasing my 6 ISA's right now one .. by .. one.

Markets are 90% psychological 10% logical

Don't be in that 90%, think logically - Gold and Silver have very very strong fundamentals.

Hold tight, this bull doesn't want anyone along for the ride and will try anything to push you off.

Someone please tell me WTF is propping up the dollar?

Taking the piss IMO. War spreads, banks fail, inflation increases and gold- goes down.

I feel sick,

I think percentage wise this is the furthest gold has ever dropped below the 200dma since 2001.

http://www.kitco.com/charts/popup/au24hr3day.html

For those losing their heads or worried or losing confidence.

Please take a note from Jesse Livemore

"It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine--that is, they made no real money out of it. Men who can both be right and sit tight are uncommon."

We are in a BULL MARKET, the PRIMARY TREND is up. Everything else is noise.

Sit tight and know and be sure you are in a precious metals bull market where the primary trend is up - and believe me we are in one hell of a bull, some are calling this as the mother of all bull markets when we consider the amount of paper floating around and the problems associated with it.

Sit wait and be calm - you are one of the earlier entrants and will eventually make the biggest rewards.

I am down about 35% on my juniors but up about 20% on my physical. I have bought more at this dip and will continue at any dip as long as the fundamentals stay in tact.

You have got to believe and be sure we are in a precious metals bull market - still the early stages, institutional investors aren't even in properly yet.

How about some sympathy for the guy with Yen. I'm not seeing low prices at all

Despite my requests to the PPT

 

It's possible I suppose, but there must be quite strong support at $910

 

 

I'm starting to get the impression that negative thinking is growing again. Last time that happened it started up

Is Gold Chasing the 885 - 910 gap?

That also looks like a head and shoulder pattern to me.

Gold at 885?

Maybe.

To those looking for a bottom to buy in or MMM and RRRR ing.

What would Jesse Livermore say about whether or not to buy?

The top and bottom 5% are the most expensive. Do not try and reach them before making a decison.

Gold and Silver are Cheap Now. Buy Now. Buy More if it drops more.

When gold turns it can happen quickly and violently leaving you still looking for the bottom.

Let's hope so, I am now all in. I personally don't think we will see the 800's again.

Never take anything for granted.

Gold and silver bulls were banging on about silver never seeing the 12's again in early 2007, silver dipped heavily and into the 11's in July 07.

This however was the ultimate gift as silver soared from there to the 20's.

Lesson - always have some spare dry power to spend in the sales.

http://www.jsmineset.com/ARhome.asp?VAfg=1...amp;T_ARID=6481

 

$2438 600 000 000 / 262 000 000 = $9308/oz

SPPPOOOOKKKKYYYYY

That figure $9308/oz is very very close to the Dr Bubb X10 Theory.

So, is there any doubt in anyone's mind that gold and silver will spend the next few years growing at a rate of no less than, say, 15% a year?

 

Just askin'...

AS LONG AS THE FUNDAMENTALS stay in tact gold will rise in double digits EVERY YEAR.

Look at zimbabwe and price gold in their currency to understand why.

Failing that we could go back and retest 850-60.

I can't see 850-60 (the 200dma is at around 880 right?)

If I see 860 it will be a back the truck up/sell all worldly goods and buy gold/silver moment.

$875 is the 200dma

never forget the 200dma in this gold bull run and never forsake its power to attract gold back to it.

It's very funny/weird every time gold approaches 1000 or rises dramatically kitco is on its knees. Any major fall and kitco is quicker than it has ever been.

I was about to ask about that. I get timed out from the main page and from the livegold page.

 

Busy?

Gold is money switched to INO and boycotteed kitco

http://quotes.ino.com/chart/?s=FOREX_XAUUSDO&t=f

I don't own share for two reasons: (1) lazyness (no account yet), (2) lack of money. But I think shares should not be a substitute of a physical core holding.

 

 

I think the worst case in silver will be that it performs as well as gold.

you've saved yourself a beating.

Hi GF: I'm 95% gold and 5% silver, and kick myself for not buying S more when at 16.50 recently. But I'm actually still not as sure as you that the GS ratio will change all that much. For your sake (you've got lots of silver, right?), I hope I'm wrong

I don't think GS is worried about that and neither should he be either.

They key to silver IMO is the exit, the exit must happen prior to the quick and violent descent but not too early otherwise one will miss the quick and violent ascent.

Am I the only one looking at whether gold breaks above 935

It's mighty close.

935 not gonna be easy but any move past it and gold is clear all the way to 950.

Does anyone think we might see sub 900 again? I’ve only got a few crumbs of gold atm. I can’t fill my boots till 22nd July when a savings scheme matures. I could do with a price drop.

Maybe,

This rise has been sharp and fast, maybe too sharp and fast.

I have some dry powder but am not buying into this rally, I'm a tad P'd off as I wanted so badly to buy at 16.60 silver last week but no money - missed it DRAT!

If there is a pullback look at numbers around 917, 908, 890/895, 875. I can't imagine 875 with all the bullish news at the moment but it's always possible when you have A PPT.

917/915 may be the pullback target. That's where gold broke out of an inverted head and shoulder pattern.

Good Luck!

Bubb,

Any chance when new threads are created to replace last months there is a link to the previous thread in the first post?

Oh, yes, I also noted this. I wonder what kind of people read his reports and get confused: "is this 1930, or do we have a bottom and it's going up from here?"

 

Anyway, IMO Puplava is too bullish on stocks/the Dow. The 'creamy filling' also hasn't happened yet. But we will see.

 

We should still talk about silver. My name is GF, but I hold 50% silver.

Jim has stated clearly the creamy filling isn't as creamy as he originally thought and the dark outer layer later this year may be a lot darker than he expected.

Re: tim wood, so funny he pretty much gave up this week - 'sorry i don't know, I havent got a clue.'

Rates unchanged and a very woolly statement with a miniscule (and I do mean miniscule) hint of hawkishness. I think we could get some good upside in gold and silver here.

 

One dissenter on the FOMC who called for higher rates, I guess he'll be silenced when the markets continue to drop over the next 2 months.

 

Edit: The more I read the statement the more of a bottle-out it looks. I think it effectively says 'we don't know what the hell to do'.

 

Nice rally in silver, I bought some at $16.59, sold at $16.75, so it has been a profitable day after all.

They are stuck between fire and ice.

RE: the dissenter - call me synical but I got the feeling this was staged for pure spin.

now tne big question is: do we sell at 950 area or 1000 ?

Or at 1200 or not at all?

Jim Sinclair says sell a third at the top of a rhino horn and buy back at the bottom of a fishing line for long term investors.

In this case I'm quite bullish on the immediate future for gold, but the chart risk is still quite high, so I'm not going to place too much money into the short term market. I will most probably exit this position on the first test of $900, dependant on how the charts look when we get there. If we drop from here I will probably exit just below support at $880, so the risk/reward is quite good and the size of the position means a very small loss.

 

That's how I trade, playing risk/reward and trying to stick as close as possible to support/resistance levels. This case probably isn't the best example, as I'm not very close to a key support level, but I've seen this morning's chart action so many times in the past, and in the majority of cases they've led to more gains within 24 hours. If I'd been watching the market when the drop occured I would have been in at the $876 level, and would be holding now for $900, however I was away from the screen when it happened, so I'm taking a bigger risk at $884.

 

As for the chart risk, I always find it more profitable playing trends rather than trying to fight against the tide. A good example is during the first month of the correction, where the downtrend was clear and it was quite obvious that the recovery back to $950 was just a bounce. During that period I took out almost no long positions and made some very careful shorts, all of which paid off quite well. You may remember me banging on like some kind of doomster around then, well that was why. The trend wasn't supportive of price rises and the shorters made by far the easier money.

 

At the moment we're in limbo, from a chart perspective, range bound between $850 and $910 and with all kinds of conflicting news. The volatility is high and the market is shaking off both longs and shorts in preparation for the beginning of another trend. The start of the trend will most likely be marked by a very large move, so if you get caught with too big a position on the wrong side of the trade you're going to get hurt and have no chance of recovery.

 

The picture will become a whole lot clearer once we've broken $900 and particularly $910, as we will have broken out of the downtrend that has been in place since the start of the correction and the charts will leave gold free to rally. That will be the time to start buying the dips in earnest, as the trend will support your position and be likely to erase your mistakes. Remember there is still an awful lot of money to be made between $910 and $1000, and with a lot less risk than there is at present. Buying NY trading dips during an established gold uptrend is the single easiest way to make money in this market.

 

As for stops I tend to be a bit more free and easy with them than I should be, which does sometime catch me out. The entry point is key for stops, if you have waited for a good pullback then generally you can afford to be a bit tighter with them. But if you're playing momentum you have to leave them loose or the market will just knock them out. For this reason I don't generally 'chase' gold or silver with momentum trades - hence the adage 'don't buy strength'. If you don't have tight stop discipline you may well make lots of winning trades, but the losses you make will be so big that they'll wipe out your profits and more. Believe me, I've learned this the hard way. There are times of course when you just don't see it coming, like the drop from $1000, I took some nasty losses on that, but stops and a bit of good fortune (I had exited a number of trades in order to move some money around), saved me from a catastrophic loss.

 

All of this of course only applies to trading, for buy and hold core positions the time to buy is now, just start drip feeding it in at any price below $900. If you truly believe in the gold bull then the worst case is that we take a year or so to get back to the highs.

 

A bit long, but I hope this was helpful. The key is to develop a style that works for you and stick to your own rules. You'd be surprised how often the basics work in the gold market, being greedy while others are fearful and fearful while others are greedy can work wonders, it's just remembering this fact when you're getting caught up in the action that's the hard part.

Great Post!

Thanks

Core position - Long term positions in physical gold and gold mining shares which I have no intention of selling or trading.

 

Physical - Exactly what it says on the tin, physical holdings of gold and silver. Again, not for trading but long term holding. Represents a comparatively small percentage of my position as I mostly hold mining equities.

 

The rest of my interest in the gold market is for trading on a more frequent basis, using instruments such as options or even CFDs.

Pardon me if this is not your strategy marceau, but just to clarify.

Many investors that target a single sector like precious metals adopt a core/satelite strategy.

The core holding is the rigid solid part of the investment, in gold you would call it the physical itself and maybe a few majors like newmont.

You can then enter positions in more risky areas like junior miners/options etc, these 'satelites' consume a considerably lesser proportion of the portfolio but offer high risk/rewards.