POTATOES

The technical's look slightly better this morning (if you're in to that sort of thing) gold chart 10:00 am GMT Could be a nice little pop up from here.

I was very skeptical about Elliot wave theory. But, the only analysts who accurately called the last hard gold correction were the Elliot wave boys, ( and cgnao the day before the sell off). I still think there's a little too much post rationalizing when things don't turn out as predicted, but hey, that's human nature.

Take the ETF profit- swap out the profit in to actual physical (brit's or post-decimal sovereigns - no cgt on resale) on this dip. Also might not be a bad idea to have a few singapore 3 -5 year bonds for safety, if you want to go that way. As a Speculative punt, with oil this low most of the mining companies operating costs will be dropping, look for companies that have low gearing and large reserves. I'm also begining to think the Big oil companies are looking like a long value buy at the moment. DYODD What does anybody else think?

If you like a good Cheddar, have you tried 'Black Bomber'? ( it's contained in a black wax). No good for toasting, but beat's every other cheddar style cheese I've ever tried. http://www.snowdoniacheese.co.uk/ (I don't own any shares -honest!!) Back on Topic:- I'd like to see 740-735 hold and the next leg up take out 835-845 on volume. That would be a big confirmation for me.

It actually looks a good long buy at the moment. Hmmm...

Does any body know what just happened to the gold 6 month lease rate? It appears they're paying you to lease gold. Would this have any thing to do with the potential Comex default? Hmmmmmm...... Found this article interesting. http://seekingalpha.com/article/100677-mis...gold-could-rise If I understand it correctly, the wider the spread between libor and lease rates, the greater the chance of a price spike. Or have I misinterpreted that?

Just been quoted £535 for a krugerrand at ATS ( they have about 20) Current NY spot is £469. Thats a $100 dollar premium for physical at Bullion dealers, not just on Ebay.

Found this chart- It would suggest that the long term trend estimates a floor in the price of gold of $650.

I always reply:- " I'm sorry, I don't discuss personal matters with money lenders."- It's fun watching the Cyborg's reboot.

Goldfinger, I think you'll be needing this piece of equipment soon.

1 Oz Krugerrands are selling for £620 on Ebay tonight.

Great charts.