drbubb

Silly. Jake doesnt "get it". I thought of sending him an email. The time he chose for the comparison was very biased. And he should have been comparing share indices with gold shares. No wonder he is a poor journo, and not a rich trader !

Or, rather, it is the ultimate store of value... when all the other "stores of value" are not working - apart from guns & ammnuition, of course

Here's how two Pro Traders try to unravel the puzzle of the day's moves: Pro chat. Skype chat with a fund manager, About Gold prices, and Junior miners (CDNX) :: http://www.greenenergyinvestors.com/index.php?showtopic=2938

Pro chat. Skype chat with a fund manager, About Gold prices, and Junior miners (CDNX) :: http://www.greenenergyinvestors.com/index.php?showtopic=2938

As we go through the day... Gold chart # 1 ................... : Gold chart # 2 ................... : ..

Rule 48 being invoked Putting in all the stops today

Yes, basically that's it. Once the seasonal upthrust is one of the way, I expect a retracement, a $850 would be the ideal target. But a higher figure, such as $930 or so, is also a decent target Welcome to GEI. I look forward to more posts. Member OneThousand has just registered

"movements outside NY trading mean little... and tend to get retraced"

(from advfn's gold thread): yikyak - 17 Mar'08 - 12:33 - 36441 I'm hearing rumours that Hong Kong could be un-pegging it's currency from the US$, anyone know anything? If true this is HUUUUUUUUUUUGE news. energyi - 17 Mar'08 - 12:37 - 36442 Hmmm. If true, it is because they do not want to folllow the US rate cut

Cayne is a capitalist. And he should know that this is exactly how capitalism is MEANT to work. His mismanagement blew up Bear. If he loses 80-90% of his networth as a result, it would be fair.

Are they the same folk that were clients of AssetZ? Do you think they have any capital left?

For gold, you may need to wait for the post Spring (post March/April/May) pullback - into July/August? For gold Juniors, NOW may be a great time to jump onboard. No guarantee that you will make money, but at least there is a great RELATIVE VALUE argument here

Welcome, CP. I'm an ex- Chase London employee myself In the my days, The Old-Chase used to be so accident prone. In a way, it is good to see them making some acquisitions which may prove (entually) to be cheap and well-timed

A party as they moved up, and a serious hangover, as they move down. THAT is what we can expect. The Fed, and the Bush administration seems to think we can party forever, and all the low interest rate vodka and gin can be consumed without any future pain IT AINT SO

What is "Bad" about prices moving back towards real, sustainable valuations. This is "good" and it should have started months ago

they should blame Bear for creating so much fictious capital (and themselves for believing the game was sustainable)

That's not what this is for. I was just showing the context of these gains. Jumps of $25 or $30, are large in reation to what we are used to seeing. And that may be a sign that we are now headed into the parabolic phase

If the destruction of Fictious capital (in US dollar demoninated assets) continues at this pace, it will eventually work prices down to levels where they are BELOW real value. Is Bear Stearns cheap at $2 per share? JP Morgan Chase must think so. Many assets will need to be written down, but there are some sustainable valuations amid all the writedowns Also, JPM knows that Engine of Capital Formation is now into reverse gear, and looking backwards, the drivers do not see things very clearly. They can drive prices TOO LOW, and endanger JPM's own business. So jumping in, to save the game, makes sense for them

Intervention Watch? ""The dollar rose from a record low against the euro and traded above 100 yen as securities firms speculated central banks will collaborate to shore up the U.S. currency for the first time in 13 years. Goldman Sachs Group Inc. and Morgan Stanley said coordinated action by policy makers to stem the currency's slide is increasingly likely. The gains limited the dollar's losses in a week when it fell to a 12-year low versus the yen, approached parity with the Swiss franc and traded above $2 per U.K. pound. "The market is certainly on intervention watch," said Hans-Guenter Redeker, global head of currency strategy in London at BNP Paribas SA, France's largest bank. "If I was in their shoes I would intervene in a concerted way that supported the dollar." This was before the big news unfolded in the markets today, but you can see where this may be going with a dollar at 99.25 yen and 1.57 euros. Stocks lost 194 point but basically ended the week without too much in the way of a loss. Not that they are immune from a bad week ahead. Good news? The stock of the maker of Jack Daniels was UP today. Tells you where the trading crowd/investment banker/regulator is heading promptly at 5:00 pm today. Hey, it IS St.Patty's Day after all, isn't it? And we even have a pot of (very expensive) gold to hold on to." /see: http://www.kitco.com/ind/Nadler/mar142008B.html

Did you ever feel like you wanted to beat idiots, who fail to acknowledge economic reality, with a big stick? Gold's the stick, and today is the day. WAKE-UP! As we go through the day... Gold chart # 1 .............. :

Did you see my VIX thread?? I reckon the SPX is headed to 1190 or so, and VIX to 40%- very possibly within this week. Will we get there TODAY? It is not likely, but not impossible

Gold-$1,024 per ounce- that's something to wake up to And the Fed keeps "boosting liquidity" What about solvency of the system ??

The fuel in the rocket is... the weak dollar

I am listening to Schiff's latest Wednesday podcast: http://www.europac.net/externalframeset.as...from=03-12-2008 He is talking about the Dollar, and Wall Street's lack of interest in the Dollar. He si trying to convince Fox to put Dollar-in-Gold, and Dollar-in-Euros on their screens. That would be a big and important change He also said: + I believe that Bear Stearns has serious problems (this was wednesday) + Fannie Mae and Freddie Mac will go bankrupt. How can they not? + Fannie and Freddie are "too big to fail", but they are also "too big to bail out"

The fed needs to be careful. If they intervene, it may just provide a great opportunity for all the reluctant holders to sell. They will need to muster the right support, from enough parties, if they try. A failed intervention would be a disaster. I think there will be an intervention, and it will work (for a few weeks) ... the first time