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mongoose

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Everything posted by mongoose

  1. So we are back around the 144 DMA. Could this be worth an entry point or could we see lower? Edit: I've had a bit of a nibble and will keep on adding on the way down if it keeps dropping. 200 DMA is at $1668
  2. gdx and gdxj currently up around 7%. Could this be lift-off for gold stocks?
  3. Clarification: Gold=money so just as important, if not more so than renting or buying a house. People need to eat, clothe, etc. But I see your point about the (un)educated ranks of MSE not grasping the gross devaluation that is occuring.
  4. And what does the Silver Sammy Contrary Indicator say?
  5. I think a coin is generally: Issued by government backed issuer Denominated in fiat, which is the minimum price they can be exchanged (if still legal tender)
  6. Just got this email from Goldmoney which makes them more tempting to use now. Will be interesting to see how well this works.
  7. ebay/paypal make about 3-4% on paypal. ebay now also force all normal listings to offer paypal anyway. Increased prices may be more prevalent now as the 10% discounts seems more widespread (a colleageue at work was talking about receiving the discount today). The discounts may push prices up a bit, but I didn't see this previously when I bought at around the same price as CID was offering (minus £100 discount ). The current completed listings don't seem disproportianately higher than the last couple of days.
  8. I want one of those! Free money! I did get a 15% off voucher from ebay just before Christmas though. I bought 2KG of Silver using it. Wonder when ebay will wise up?
  9. I am not an accountant (IANAA), but what about the following: a. Company buys, but then silver dips by 20%. Company sells at going price + VAT so now holding is personal rather than company for same total cost. Note that as a director, you have a duty to maximise profit for your company, so this could be viewed as a bit "dodgy", but with current cashflow issues that many companies will be facing not something that should raise flags. b. If silver rises, then at least you have delivery and you can still sell in the future. You could sell at the cheapest price you can (what is the cheapest competitor?) without delivery risk. c. If you wind up the company, then redundancy payments have a tax free element, so you can take advantage of this when liquidating assets
  10. That would explain why BHP has been hit so hard
  11. CoinInvestDirect are now offering to buy at over spot for most coins as well! I expect that other dealers are too (though not advertising it so blatantly) https://www.coininvestdirect.com/main.php?a=10&id=1 Physical is really doing well, not only is gold increasing in terms of sterling, but the premiums are as well. Excelent for all those who hold physical
  12. I'm wary of what happens next week when the AIG backed ETFs might become tradable. I can see sell-offs in these ETFs which may have a negative affect on the spot pricess. Now what happens with the money redeemed? Some will go back into PMs - but if prices are temporarily falling, some may be tempted to go into the rising short protected financials Anyone have any views on this and the potential short term impact in prices?
  13. Saw this too. Daily spot was still 860 as well. Don't use stops for this reason.
  14. What are peoples thoughts on the 300dma? We are at about that level, and that has held well over the past 3-4 years.
  15. fixed link - Safety Deposit Box Raid OMG - I nearly opened an account there 2 months ago. Glad I didn't now. Will be interesting to find out how the innocents will be treated. Will they need itemised receipts to reclaim their things?
  16. Hard to call, but this is the biggest correction since May/June 2006. That correction dropped pretty much straight down. Just some figures I'm playing with... http://stockcharts.com/h-sc/ui?c=$gold,uu[l,a]dacaynay[df][pd144,1.618!b300!f!b200!f][iut!ue12,26,9!lh14,3] (sorry forum software does not like the link to stockcharts and won't make it all clicky ) May 2006 - June 2007 730.40 dropped to 542.27 = 188.13 = 25.75% over about 1 month. Incidently the 540 level was also the 200 dma level in June 2006. It then rebounded upto 676.41 so bounced up 24.73% in the next month to Juy 2006, before then drifting down and consolidating for a year off the 300 dma level at 641.10 in June 2007. March 2008 Onwards So using those drops we see a drop from the peak 1033.90 level down to 771 for the same 25.75 percentage fall. If we use the 200 dma level which is currently 785. The previous months increase in 200 dma was approximately 35 (Feb 18th to March 18th). Assuming the 200 dma will rise by about 25 from now (1 week into correction and falling prices) we have a target 200 dma figure of 810 for mid-late April from which we could see a profitable bounce. Target levels of either 771 or 810 Obviously things are different from how they were in May 2006 so we may not see as large a fall and gold has some core support levels in the 800s to get past. Conversely, the cartel may see this as the last chance to smack gold out of the public mind and push down to the 300dma level which has proved to be major support. I'll be looking to enter some short term SB positions if gold hits 820 and average down from that level if it goes lower. I'll then get out after $100 bounce. If Gold doesn't go down that far to 820, I'm not in a rush as I still have my core physical and equity positions that will benefit.
  17. All Investments Sort of - Tried to with Hiscox, but they would not/could not insure for anything reasonable at the end. M&S Home Insurance is unlimited though so have gone with them. Have not declared PMs as high value items to them as individually none of my coins or coin sets are £4k or more and they are not a collection (as per M&S terms) Just ensure you have proved ownership. Also it could be prudent to spread the stash using safety deposit boxes which come with their own insurance. Yes - Sovereigns are best bet for UK due to lowest premium for CGT exempt coins. Possible to go for Napoleons, etc but harder to sell in UK IMHO and you'll get less due to lower demand. First rule - Try to minimise the premium you pay. Due to increasing metal prices, the mints inflate their prices so you get this sort of situation. So in this case, stock up on the others If I spot Britannias or Pandas for only a bit more than the more 'common' coins I tend to pay the extra for the additional CGT benefits / resale value. More universally accepted. Much easier to fake a bar for some fictictious assayer. Saying that, some of the old Rothschild gold bullion bars have huge premiums due to rarity.
  18. IG Index has raised margin requirements on Banks and Commodities Now the cynic in me feels this might be a directive from up above to reduce the number of people shorting the banks but I guess it could be own to their explanation and the increased volatility we are seeing.
  19. Think there could be huge volume at the moment. IG index temporarily stopped all markets (16:12 GMT) that I could see, then some were available and others were not. Now most are back
  20. And thats the real beauty about holding physical - much harder to get shaken out and definitely no margin calls!
  21. The red line interprets underlying interest rates, so as seen in the graph the increase of interest rates (by Volcker) to the teens effectively killed off the last gold bull. Currently, as interest rates are low and falling and true CPI is above interest rates, the gold bull should run for some time to come
  22. IG is showing Sterling down over 400 points against CHF
  23. Too much happening just as I was planning to go to bed
  24. Netto is not including VAT, Brutto is including VAT Brutto is what you will pay.
  25. Not misleading, just not inflation adjusted. I do prefer your graphs though, as our current price levels are still well below the historic inflation adjusted peak. I take it your bottom graph is from Shadow Stats? Any comment on the reason for the 1975-76 correction and your thoughts on the size of any possible correction now? Or are we beyond that point?
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