Delboy

I noticed this a whie back. If you consider that to have a GM account you must have a reasonable amount in there then extrapolating you or I could be amongst the top 50K wealthiest people!

Jeeese..........

 

So JPM whom are being investigated by the CFTC for dodgy practises, now get rushed through CFTC approval for a vault license for storing and taking delivery in the same market that they are currently being investigated in.

 

This is starting to look like really desperate measures are required to keep the lid on their game.

I believe everyone have missed the trick that JPM are playing with the vault. It is not to delivery their own shorts it is for taking gold as collateral on investments from customers and then using their physical gold to then hedge and thus be able to `deal in paper 100x the underlying physical'. They recently announced that gold was good and acceptable as collateral.

Just sold virtually all my uranium stocks for obvious reasons. Might invest in coal now........They had not performed really and it was a ot of money for me and I could not just let it ride. Really thought I will try some junior PM miners instead.

Update on House. I put in an offer of 410K. Email from agent states " vendor already has an offer of 550K which they are considering, you offer is out of the ball court" I responded " Sorry your email is unclear. Did you say they had seen the offer, read it and rejected it?" I am awaiting a response. Remembering that the asking price was an over inflated 560K why would they be considering it? I'd bite their hand off!

Does the UK government still pay peoples mortgages when they are out of work?

 

I seem to remember this a lot on HPC, the poor sods being rightfully mortified that they were not only paying landlords but their taxes were paying for other peoples mortgages.

 

If so, it appears buying a house via a mortgage is zero risk in the UK.

We both have jobs and one is a key worker so pretty solid. One persons wage maybe enough to cover mortgage and outgoings. Yes I would like to make the most of any drops and fully understand the whole inflated prices etc I got stung in the last crash so I have learned my lesson.

I think I will let fate decide by putting in a stupidly low (but actually realistic) price and see what happens.

The first scent of victory, and people want to buy?

Why not wait for the battle to go a bit further, and for the bulls to get warn out, nervous and panicky?

 

That is when the real bargains will be had. What is your hurry?

Property ticks many boxes and could be the forever home. Also if I can fix on mortgage now it will be better than fixing later if(and when) rates rise. I rent which is fine but if I can get in there with this one it would also help as the missus is having the first baby and needs to nest. It's not rushing as I was thinking more Spring 2013 however, if I can get what I want now at the right price then near term peace of mind is greater than long term gain and the unknowns of the future. Its a bit like NPV but non financial if that makes sense. If it works out with deposit and price, I can keep some PM's which I can use to pay off mortgage over time.

I viewed my first house in seven years today. The road is a mixture of mainly 3 Bed with some 4 Bed. It is a 4 bed with a large garden (even compared to the others in the road that are large for surburian London outshirts). Also has a garage, en-suite, cloakroom and out house. Nothing has sold in the road for six months although there appears more movement now with 3 Bed on for 380K. The highest every price was 430K July 2007 peak from a reasonable selection of sample data. Asking price? 560K! I am thinking 400-430K Max however its a lot of house. The house sign says SOLD and it was under offer but came back on as the agent says the third party is having trouble selling their property. It is selling with no chain and the owner brought it at least as long ago as 1994 as no original sale price exists. The story from the agent is that the owner lives in the area and has been renting it for a long while and now wants to sell. I have been tracking it since Oct and it was advertised and I believe rented from about then onwards but it was also up for sale for the same time. I dont fully believe the long term rent bit as the condition of the kitchen etc is too well maintained, the original internal pictures show very homely furniture and family photos of typically the type of person I would have thought lived there. Also and this is the clincher in the garage is a beautifully restored/original 1950's Austin! I would not leave that in a rented accomodation especially if I had a house with a garage somewhere else. I am a FTB with good deposit and I rent so an ideal buyer. The agent says the original offer was 530K and there is someone else considering an offer around that and said the owner wont accept less than that. Obviously there are other non financial considerations but is my estimate a fair price or maybe lower?

Stock update. URZ and A9Y (uranium one) are roaring away, whilst the others are back on the purchase price. I definately brought at the short term top. New year hit this sector bad. It was always a 2-3 year punt anyway.

I was having a conversation about LTV and the size of the deposit required recently and explained that the LTV is effectively how much the lenders think at max house prices will fall. It then occurred to me to see when would it have been possible to have brought the house for cash with the deposit i.e. when were house prices 25% of what they were at peak. The answer is a surprising 1987!

USU, UEC, URG, URZ, DNN, URRE, A9Y and CCJ. Plus URA ETF why?

My new investments have got hit badly so far, just my luck, still if can't stand the heat!

Time to look again at Uranium? General commodity price increases, oil price increases, changes in public concerns for a nuclear energy requirement to meet greener needs?

My opinion is maybe what with many more in construction now might be a better time to get in. My caveats are global economic slowdown puts pressure on energy usage, investment both public and private dries up and subsidies are reduced.

Any thoughts?

I can not buy the other shares with my trading account except Uranium One (XETRA:A9Y). Having looked at the Global X Uranium ETF (NYSE:URA) this seems the best option for those that are not interested in individual companies or lot of research. After doing all mine the majority of the good ones are in here. This is a recent ETF and along with the NYSE:LIT lithium equivalent seem sensible exposure to these markets.

I beg the question though are ETF's safe?

FYI

I brought URRE, CCJ, URG, URZ, UEC, USU in order of size of investment. I will be trying to buy IUQ, A9Y, UIS FUND, PUR, CXZ AND TU3 mainly on XETRA again in order of size. My trading facility only allows LSE, NYSE, NASDAQ, AMEX and XETRA if I am lucky!

I will keep you posted.

Time to wake this thread up!

Have you seen the price of uranium recently a nice uptick in the last couple of months and historically looks low so plenty of movement. S/D determinants look good too. I have been researching this area and it looks like another silver type market but with a more benevolent controller. Some major gains on popular stocks too. I have not picked my winners yet but my usual technique is buy many companies with smallish amounts and bank on the upside. I divide iniital investments into three amounts spending most on producers, next developers and the least on explorers. Also I consider and prefer stocks that have not made mid term highs and are going that direction.

I found it interesting reading back over this thread in that it details the high and lows of an effectively a bubble market; is this time different? I will use Dr Bubb to indicate when the bubble is about to burst based on what occured here

How do you hold sovereigns in an ISA?

I have been trying to get 1oz coins from three of the most common suppliers in the UK two based in the channel islands and one in German and they are completely sold out of Eagles!! Also an order for Maples is taking more time than normal and I have not had a reason why yet (I know it is a bank holiday in the UK.)

Anyone else having a problem?

Very nice, no bread? old GHPC joke.

I might get me one now. The Kook is nice. Anyone else got pics of other 1kg coins?

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Buffaloes

 

http://www.sarniasilver.com/id32.html

 

Rounds then not legal tender. Still good price.

I don't get 1kg coins, how do you spend them? I prefer ingots/bars for that size. Could you upload a pic with a loaf of bread or such like to get the idea of size?

The last lot of "rough Buffaloes" I purchased from Sarnia / Silvercoinsbullion not that long ago cost £13.50 per oz posted, now up to £14.99.

What are rough buffaloes?

Which silver coin?

Yes I realised that but why so little during other times.

I like silver. I look at a gold coin and think that's worth £800 that is ridiculous. I look at an oz silver coin and think that is worth £15 and it seems more sensible. If financial armegedon happens surely people will trade in silver day to day. I know this did not happen in Zim since they had gold in the local river and it could be panned. I also realise the ratio G/S is out of kilter historically and this will give potential for more % gain long term. I understand that the reserves for silver (mining) is due to end 2015-20 and gold (2020-25) which should affect the price due to lack of expanding supply. The market for silver seems to fluctuate more so for the trader there is more to gain.

Am I wrong?

Why does all the volitile activity take place on the New York time scale?