Vedantafxtrader

seeing as how the previous topic discussing this has been locked so I can't post anything further...............

 

 

 

 

 

 

 

so RH, could you post your GM profit/losses since you opened your account with GM - it will all be on record ??

 

I asked this for swampy yesterday but didn't get a reply back from you?

Seems of poor class and taste to be asking people to post details of their financial worth on an internet forum. Enjoy what money you have, rather than worrying how much someone else has. It will not make any difference to your life how much money some has or does not have.

I got one of these for Christmas:

 

 

I didn't even know that Silver Buffaloes existed. But even better, while the design looks somewhat modern, it's actually a century old. See the 1913 nickel below (also got one of these ).

 

GF, quick question...I have been buying silver coins of late...Of course you are paying a large amount over the spot price for a coin...due to the craftsmanship, so you are paying a premium based on this...Will it be the case that when silver moves up in price you will be able to sell the coins at a premium also?

Thanks

You might consider buying now the GLD March Put with a strike price of 96, costing 1.48 at the moment, which would cost you $152 USD...if Gold gets down to 900 USD this option could give you about 700% profit, which would offset your drawdown on your position.

Hi DrBubb,

 

Been busy setting up my own forum, 24Knews.com, which is a more focused site for news and comment on this crisis, with less of a trading approach.

 

As I have said many times, I am not very interested in trading, more in trying to preserve my buying power while this currency crisis and housing crash is happening. I am hoping that one day I will be able to just be concentrating on taking pictures again every day, but I think that will still be a bit of time yet.

 

I have not set the site up to be competition for GEI, more to try and calm things down a bit. I will still be popping in to GEI and posting occasionally, but most of my posts will now be on http://www.24knews.com

 

Regards,

 

Pixel8r

 

Very good luck with that...being shortterm negative on gold does not mean being longterm negative. I own gold and I m not selling...Anyway, best of luck.

Anyway, I take it you watched the Faber videos posted here by RNS?

Why not just ignore it, my precious little friend.

I can't speak for Bubb, but to me his point is clear. Gold is not a one way bet and goes up and down like everything else.

The bull market in gold is still very much on, but Jim Sinclair in my opinion is a shill. A bit like Jim Dines. You need to be careful with these guys. To me, that's the point of Bubb's posts: be vigilant.

This was my take on it...I was also warning people that a correction gold was imminent and the USD would strengthen...Here is the link to the post charts and all...27th November

Gold extreme overbought

My indicator had turned down before gold turned down as it is a study based on volume...as I have mentioned before volume comes first then price, not the other way around.

Here is a quote from that post...

".Anyway here is a chart with the longer term analysis of gold, I also have a shorter term indicator...It has been turning down the last couple of days even as gold as been moving up which in my interpretation means the rally will turn, and at worst gold could spike up again before a turn, and it is showing extreme signs of overbought conditions in gold..."

I had marked on the chart Turning Down?

Gold was at 1196 at time of post and I said as highlighed above that at worst gold could spike up again before a turn of course which it did to 1226USD...

It has seemed to me that the anytime the chance of a gold correction was mentioned or a USD rally, it was heresy...I own gold. But it doesnt mean I can hedge the volatility with going long USD or shorting silver as I have done, and covered with a 6.52% return with leverage in a couple of days...Also I have been short AUDUSD and GBPJPY...

Anyway here is the follow up...Shorter term buying waned....Distribution picked up in earnest from the 26/11/2009...With the accounts of the hedge fund boys selling I knew this was proper selling....In the space of a week aggregate shortterm volume has went from 90% buy to 40% buyers....hence the swift move down...

Here is the longer term version...Still sky high (but flattening) although buyers have come down from 76% to 70%...This is not used so much as a timing tool...but it is a warning that gold could correct more than anyone thinks, or at least more than the gold bugs think (which was only 7% or some other silly number)I m not saying this will happen, but just dont be surprised if it does. In this chart of the sell volume starts to pick up this market could make its way down...failing that, if buy volume drops and sell volume stays constant it will still fall in the end...or both could rise together, in which case the 50% line will be important... In this case shorter indicators will be needed to draw conclusions...

unlikely IMO given that the USD entered hyper-inflation in late June - gold has been making a nice upward curve since then except for 2 major takedowns, both around options expiry day - and it appears that central banks have recently lost their ability to bring about falls on these days.

 

Contrarian indicator I think...Hyper-inflation? There is buy positions being built in the USD over the last couple of months. I expect sellers to wane in the not too distant future...

As some of you know I am a customer of Alpari. They recently gave away some free charting software.

I thought I'd leave it running to see how well it does...or doesn't!

 

 

Short at 10.30 GMT this morning? I don't think so...

 

Anyone who thinks that all the info is right there in a chart and fundamentals don't make any difference will be crying right now!

 

Ignore Fundamentals at your peril; as CGNAO says Technical Analysis will take you to the poor house.

 

Think for yourselves people - there is a funking good reason why they give it away!

 

Volume is the key-price is only the resultant force of volume, however in the chronology of price change, human-mind/intellect-receipt of information-processing-then decision/action-volume-price. Trying to trade with price without fundamentals is extremely difficult, with volume and price it can be done.

It's not his gold.

lol, yeah I know...When I read that again I thought someone might assume that...I just mean it is a large quantity and he must make something from every transaction, so it would soon add up.

Looking at goldmoney's chart there doesn't seem to have been much of an increase on gold held this year. Silver has shown a steady increase during 09:

 

Interesting charts. That is a hell of alot of gold ounces James Turk holds at GM...He must be worth an absolute fortune...

To be honest, I am not quite sure what to think of this one:

 

"7. This is the gold rapture."

 

I'll say it again, he sure is flying high!

 

Here's the problem as I see it. If you think the price can only explode to the upside imminently, then this will have the effect of you immediately valuing your money a lot less. You will then want to spend/ invest all of it at once in a rush to gold. This is hardly observing the basic priciples of investment, where one is rational, unemotional and unrushed in their decisions [strategic and warlike... thinking Art of War here]. Need I add hedged?

 

Newbie not so die-hard gold-bugs will take one massive psychological hit, if the price declines on another credit crunch, or on a snap-back in the carry trade, and might be so traumatized, [having gone "all in"] as to sell at the very wrong moment. I'd add that this is why gold may go on another dip due to weak hands/minds, in the mass market, holding it [misguidedly imo] as an inflation hedge.

 

You might not agree that this will happen, but you would have to agree that it is a very real risk.

I found Hugh Hendry to use an interesting term..an asymmetric trade. One where if you are wrong, you don't lose much but if right you make a fortune. As I understand RH this is kind of what you seem to be doing. You have gold, so if it takes off, all well and good...however, if it takes off and the USD does collapse then you won't lose money...Whereas if you are right and you get into USD and it has the mother of all bounces then you ll make a lot. I follow a similar strategy all around. I try not to do any trade until it gets to the point where your nearly "certain" to be right. Also at these turning points the risk/reward scenario is most attractive.