TrueNorth

Silver's getting hammered this morning, and the COMEX isn't even open yet.

cool, thanks!

Looks like you sparked a mad rush to the audio with that post. It is the first time I that I have been unable to access due to "too many listeners".

 

Hoye has been calling for a turn in the markets for a while now. I am hoping [though there may also be a reason] that this call here is again a bit premature as would love to see the silver/gold ratio near 50 at which point I would swap silver for gold and Yen. Then it could be "whiplash" a la Hoye in the markets. Hold onto your hats.

 

reason: http://www.greenenergyinvestors.com/index....st&p=121344

 

 

I have done well on my silver. I think it may be prudent to take profits and buy on the next dip(s).

[Like most of us here . . . ]Bob Hoye is anticipating a correction in the markets. He's bearish on silver stocks and also suggests lightening up on the senior golds. Juniors? "Accumulate on weakness."

also

"Silver is about to plunge relative to gold."

Bob Hoye on Howe Street 7 Aug 2009

[Like most of us here . . . ]Bob Hoye is anticipating a correction in the markets. He's bearish on silver stocks and also suggests lightening up on the senior golds. Juniors? "Accumulate on weakness."

also

"Silver is about to plunge relative to gold."

Bob Hoye on Howe Street 7 Aug 2009

How about this scenario ...

 

I'm pondering whether to buy in the next 6 - 12 months. I can possibly buy a new build 4-5 bedroom place for cash, within commuting distance to London.

 

If I see something I like which I can afford with no mortgage then I may be seriously tempted. The reason is that it may enable me to continue taking riskier career moves such as contracting, whereas if I have a mortgage I will probably be more fearful of taking such moves for having a mortgage to service AND family to support.

 

People think about opportunity cost in terms of investment but it can also be applied to broader career & life decisions also. Of course renting and contracting is the other option. But then I have to worry about protecting the "deposit" I've worked hard to accumulate.

 

So my question is does buying a house without a mortgage make sense in this scenario?

Just wanted to chime in about being able to take riskier moves career-wise because you don't have a mortgage. It has had a very positive impact on my quality of life, not being tied to a mortgage. Career also far more interesting because of this.

PS I agree with Dr Bubb that prices will fall and that renting is a sensible thing to do.

/snip

Assuming that the price of both gold and silver will rise as the gsr drops, silver would be trading at $20/oz if gold only rose to $1,000/oz. Should gold break through the thousand mark and spike to $1,250/oz say, silver would have to be trading at $25/oz for a gsr of 50. Sorry to wee on anyone's parade here, but how likely is that? / snip

By my calculation, silver's up 8.5% in just three trading days. Gold has not made a similar percentage gain - only 3 and a bit percent.

So perhaps that is how silver makes a bigger move than gold?

Thank you.

+1 The ratio is under 66 on its way to 50

 

I will bail out at 50 as am concerned about a deflation scare in the wings. Long term for silver... who knows.

I checked when it was last at/near 50 -- March 2008. Did you do anything at that turn RH?

As I have said before, I am intrigued your strategy of trading silver for gold when the ratio is low. I may do so myself.

Great piece from Stewart Thomson on 321 gold today.

8. All gold astronauts report to the gold rocket launch pad. Prepare for the countdown!

9. What if you don't have "enough" gold? Answer: Wait. Do not chase price. Gold may rise $500 now. It may rise $100. It may tank $500. We don't know. If gold soars to $1,500 now, great. If you have no gold and gold soars to $1,500, who cares. Buy gold weakness. Don't run out to the launch pad and grab on to the rocket as it takes off. The professional gamblers are inside the rocket in space suits. The bankers, and most of you, should be in Mission Control. The madman "chase the rocket as it blasts off and grab on!" approach could see your fry as the rocket takes off. If the rocket takes off soon and you have "too little gold," wait, it will come back down later. Buy then. Rocket chasers don't make money. They get burned to death, by the bankers who are sitting in mission control. I'm sitting there too. Compared to them, maybe I'm in a high-chair with my bib on, but I'm there.

http://www.321gold.com/editorials/thomson_...n_s_080409.html

muchas gracias!

tick tock

 

Interesting chart, but would be grateful if you would tell me its significance, please?

I'm back from my hols (now the wife has allowed me to post again!)..and look at the POG....$960!

. . . .

The telly always had adverts for gold on usually from a company called goldline http://www.goldline.com/

 

Also adverts for turn your 'gold into cash' outfits: http://www.cash4gold.com/

Thanks for the update.

I saw my first UK-based "Cash for Gold" ad on telly last night. ITV I think it was.

FFS! - 12.60 !!!

 

I have to say I am a little surprised. Where's silver sammy when you need him????

I think the little bugger's on holiday in Majorca!

I thought as I have my TA crayons out, I might as well have a look at Silver. I have been ignoring ag for a while and just concentrating on gold!

 

Anyway, here are some of my observations:

 

1) The 38.2% Fib level is acting as support. This is around $13.64 level.

2) The 9 Month SMA acted as Support and Resistance in the past

3) All the moving averages are lined up correctly and the Trend is screaming UP!

 

 

Actually looking at the Silver chart has made me decide to buy more silver rather than gold!

 

Anyone got an opinion? (I know opinions are like ar*eholes - Everyone's got one!)

Thanks for that chart. The recent drop in silver relative to gold has taken me by surprise. The chart's uptrend forecast is most reassuring.

So if you have £50k worth of bullion and that rises to £250k in 5-10 years, you will get hit with 18% of £200k or £36k.

 

Ouuuuchhhh!!!

I simply plan to be non-UK domiciled when these profits are taken. Is that a naive thing to expect?

I "speculate" in the short term in silver and US dollars and book profits in gold. All other currencies are vulnerable in the short term, with the US dollar also vulnerable in the long term.

 

JMO

+1 for booking profits in gold.

Has anyone seen Jim Sinclair's message on his site?

Time For Delivery

Dear Friends,

 

You know that information that comes to me has been reliable. You also know that the entire purpose of all of working here at JSMineset has been to get you through this safely. You also know that if we had not been here hundreds of thousands of people now holding gold would not be.

 

So please pay attention to the following.

 

I have heard rumors for some time, but today it was confirmed to me, that the Canadian mint’s present problems are not unique and that other depositories (vaults) have had an army of auditors descend on them in the last two weeks. Some of these depositories have names so famous that it would scare the hell out of you. The repercussions would be drastic if they turn out to be troubled.

 

Why take the risk?

 

I suggest to you now that you take delivery of all gold held in vaults and depositories on your behalf, but this time even from the most prestigious.

 

You can get delivery via armoured car service to your bank and utilize safe depository, spread over a few banks. You can insure your safe depository if you do not mind making your holdings public.

 

I believe that this recommendation is warranted, but also it will be the financial saviour of many.

 

Respectfully yours,

Jim

Sounds ominous.

I consider the swapping of silver to gold the booking of profits. Silver is speculative, gold is safe[r].

 

If you think another round of deleveraging is possible/probable, you would want to swap most of your silver for gold beforehand.

 

I think we could see this sometime this summer when the dollar/bonds get into trouble. Bernanke and company could crash the markets to salvage the dollar.

I have been thinking about this a lot recently, as my silver has out-performed my gold, and I felt the impulse to take profits.

I am kicking myself for not taking profits last week, when I broke the "50% profit" watermark in silver. That figure's down to 42% today.

We are on the cusp of Alf Field’s 5th Wave of his gold price projection. It will follow directly along the lines of the Armstrong timing as a result of Sentiment in the US dollar moving into its major down leg NOW.

 

Does 5th wave mean Major FIVE up?

 

I'm confused with Jim's comments - anyone got a view here?

 

SafeBetter

I think JS is referring to the US DX breaking down, and that being the trigger or "pivot point" on Martin Armstrong's hand-drawn chart.