Pixel8r Posted May 29, 2009 Report Share Posted May 29, 2009 Cheers Pix. I know this has been asked before - can anyone recommend a good online resource or book for learning about RSI, MACD etc. I've tried before but found the online explanations a little variable and contradictory. Nearest to it I have found is the GLD chart; http://stockcharts.com/h-sc/ui?s=GLD&p...id=p47917228752 Link to comment Share on other sites More sharing options...
THEBIGMAN Posted May 29, 2009 Report Share Posted May 29, 2009 What's the odds on the IMF dumping dozens of tons of gold in order to prop up a plethora of bankrupt countries? Link to comment Share on other sites More sharing options...
bitbigt Posted May 29, 2009 Report Share Posted May 29, 2009 So maybe the team will allow the POG to go over 4 figs for once & then really murder it? ...I agree! Also, volume is low, and this reverse head and shoulders only really applies after a long term price fall (not a long term price rise) Most importantly, however, UNTIL WE HAVE COMPLETE ECONOMIC BREAKDOWN, GOLD WILL ONLY GO TO THE MOON IF THE PPT WANT IT TO ...AND THEY DO NOT! Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 29, 2009 Author Report Share Posted May 29, 2009 What's the odds on the IMF dumping dozens of tons of gold in order to prop up a plethora of bankrupt countries? This is and will be 100% irrelevant. Why are people always so keen on finding reasons why gold could/would/should fall? ...I agree! Also, volume is low, and this reverse head and shoulders only really applies after a long term price fall (not a long term price rise) Most importantly, however, UNTIL WE HAVE COMPLETE ECONOMIC BREAKDOWN, GOLD WILL ONLY GO TO THE MOON IF THE PPT WANT IT TO ...AND THEY DO NOT! IMHO, the above is total nonsense. Everyone who read this forum here for more than a month and who will still miss the gold & silver train has to be pitied. Link to comment Share on other sites More sharing options...
THEBIGMAN Posted May 29, 2009 Report Share Posted May 29, 2009 This is and will be 100% irrelevant. Why are people always so keen on finding reasons why gold could/would/should fall? Simple, I'm long-term bullish on Au & Ag, and have been for a couple of years now. Unfortunately I was a bit too exuberant on the last big rally and thus missed the opportunity to buy on the dips following the massive Ag smack-down from over $21 to under $11. I don't wanna make *that* mistake again. Some wise old man once said: "There's an old saying in Tennessee — I know it's in Texas, probably in Tennessee — that says, fool me once, shame on... shame on you. Fool me... You can't get fooled again." If gold gets smacked down, for whatever reason, it'll be a great opportunity to load up. And ain't a smack-down highly probable what with so many Euro countries degenerating into basket-cases? Link to comment Share on other sites More sharing options...
Mr Pipples Posted May 29, 2009 Report Share Posted May 29, 2009 This is and will be 100% irrelevant. IMF gold sale: US Congress approval next week - http://www.commodityonline.com/news/IMF-go...-18234-3-1.html "This issue appears now fully priced into the gold market and any announcement confirming sales should not move the market - apart from perhaps a knee-jerk reaction," said John Reade, an analyst at UBS. Link to comment Share on other sites More sharing options...
romans holiday Posted May 29, 2009 Report Share Posted May 29, 2009 "This issue appears now fully priced into the gold market and any announcement confirming sales should not move the market - apart from perhaps a knee-jerk reaction," said John Reade, an analyst at UBS. And pog will go up unless it goes down. Link to comment Share on other sites More sharing options...
bitbigt Posted May 29, 2009 Report Share Posted May 29, 2009 This is and will be 100% irrelevant. Why are people always so keen on finding reasons why gold could/would/should fall? IMHO, the above is total nonsense. Everyone who read this forum here for more than a month and who will still miss the gold & silver train has to be pitied. Thanks, I'll take your pity home with me, plus the 100k profit I have already locked in, plus the 20k I'd have lost if I'd stayed in gold these last 3 months, - and feel quite content :-) Then, when the time is right, I'll buy back in and ride the big run up from a far lower price than today. If not, then I'll tip my hat to you and wave as we sail past each other on our yachts :-) Link to comment Share on other sites More sharing options...
Wanderer Posted May 29, 2009 Report Share Posted May 29, 2009 I'm watching dollar price with interest but pound price with some disdain. I got richer in pounds last Summer/Autumn as the price of gold drifted sideways and fell gently whilst the pound collapsed. I hope that I'm not going to get pound poorer as the reverse now happens! I see on the silver thread many are hoping for a short-term fall in the pound. I hope so! Link to comment Share on other sites More sharing options...
bitbigt Posted May 29, 2009 Report Share Posted May 29, 2009 Most importantly, however, UNTIL WE HAVE COMPLETE ECONOMIC BREAKDOWN, GOLD WILL ONLY GO TO THE MOON IF THE PPT WANT IT TO ...AND THEY DO NOT! IMHO, the above is total nonsense. Why nonsense? Many posters here argue that the PPT manipulate and control the gold price very effectively. My statement merely clarifies that they can continue do this very well (as the gold market is very small compared to the other things they're manipulating) as long as they wish to, and its only a total economic failure that will cause them to give up or become impotent. Link to comment Share on other sites More sharing options...
azazel Posted May 29, 2009 Report Share Posted May 29, 2009 Thanks, I'll take your pity home with me, plus the 100k profit I have already locked in, plus the 20k I'd have lost if I'd stayed in gold these last 3 months, - and feel quite content :-) Then, when the time is right, I'll buy back in and ride the big run up from a far lower price than today. If not, then I'll tip my hat to you and wave as we sail past each other on our yachts :-) I think you did the right thing selling in Feb, but I would have bought back in below £19,000. What price are you hoping to get back in at? Link to comment Share on other sites More sharing options...
Pixel8r Posted May 29, 2009 Report Share Posted May 29, 2009 An Open Letter to the Gold Community From "Ken the Wise:" Dear CIGAs In the spirit of preparedness and in order to help save our Captain of JSMineset from months of undue stress and strain from anxious community members in fear, over zealousness, hubris, or sorrow related to gold, please be attentive to the following themes or guidelines. 1. You know that gold is going to break the old highs from last year in the start of a wave 3 breakthrough - a most powerful move. You know that this move is happening now. The targets are known: $1089, $1224 and $1650. Alf holds open the possibility of an over-run to $3500 in this phase. Now through June is the timeframe for gold to breach and hold the new highs. It is going to be a hot gold summer. 2. Please do not try and trade, get cute, time or mess around with these targets. No one really knows exactly, and the surprises may well be to the upside. The idea is to know in general what to expect, be positioned in safe gold vehicles and keep your arms and legs inside the safe vehicle at all times. Enjoy the ride, don’t LOSE YOUR POSITION in a gold bull market. Read JSMineset archives if you have trouble understanding what are safe vehicles or if you want to find out how best to insure your financial survival. Buy a Compendium - it’s all there for you on two disks. 3. Illegal short selling is dwindling, hedge funds are loaded long on gold and gold shares. Hold on to your traditional and royalty gold shares and relax. Expect some volatility. 4. Expect the news headlines, talking heads, and the Cramers to come pouring out of the woodwork as gold makes new highs! Expect the banter, the clang of disinformation, the scare tactics and the mental attacks of holding a winning position. Mentally focus yourself now on a winning attitude that will get you through these challenging times. 5. Expect BIG news surprises in gold, both taken initially as good news, and likewise bad news. Remember, any announcements about large gold sales are really bullish, as they show gold moving to strong hands to the East. Some of these sales have already been made and the announcement is nothing but the realization of that sale being closed. 6. The gold community has gone through many months of being beat down by illegal short selling, dirty tricks against small gold companies, and negative press against everything gold. The fact that gold seems to have been held back during these economic challenges when gold and gold shares should be further ahead, also has been a psychological burden, a negative pressure. So as things begin to go gold’s way - the challenge is to stay grounded and centered and not get propelled into the emotion that waits us: Greed. CIGA Ken http://jsmineset.com/2009/05/29/words-of-w...m-ken-the-wise/ Link to comment Share on other sites More sharing options...
bitbigt Posted May 29, 2009 Report Share Posted May 29, 2009 I think you did the right thing selling in Feb, but I would have bought back in below £19,000. What price are you hoping to get back in at? To answer, I need to set out the backdrop... I cashed out GBP 200k because A. sterling was ludicrously beaten up by the fearmongers (so GBP gold price was particularly high), & B. we wanted the cash to buy a house (so the risk of another knockdown was too great) We've since decided instead to leave the cash where it sits in Switserland for a year or two, and then convert it to CHF to pay off the mortgages on several BTL's we have there. This is because we expect sterling to strengthen significantly against the CHF in the medium term (CHF has strengthened ludicrously as a save haven over last 2 years, but will fall as recession passes and as banking secrecy in Switzerland erodes). We've already gained a further 8% on the cash in the last 3 months via this plan. All the above is legally tax free :-) We'll still buy a UK house in 6-12 months time (have been looking) but will do that with other investments we're steadily cashing in, plus a UK mortgage. Unless rates go very high by the time we buy, we'll lock in a 10 year and hope to pay off at the end. The monthly interest should approximately match our current rent (which I just negotiated a 5% reduction in) Now to answer your question... Given the above, I am not in a position to risk my cash on a big fall in PoG. And indeed, I think there is at least a 50% chance that gold may have seen its highs in GBP for the next 2-3 years, and may drop quite a bit from here. But I also think there is a reasonable (30% ??) chance gold may go up 20-40% further from here, during next two years. But that extra win wouldn't be worth the risk to me - given my housing needs/plans. Longer term, however (5-10 years) I feel quite certain we will see some serious inflation problems in the West. And that will take gold up to GBP 1000 and probably higher. So I'm planning to start saving extra cash (that I usually find a way to come across) over the next 1-5 years, and will look for a good entry points into gold. We've still got 2kg gold as a core holding that will not be sold, and I'd ideally like to push that to 10-20kg. I'll decide on when to buy (i.e., time and price) without pressure or panic (always the best way) based upon prevailing economic climate, global developments, inflation, and my level of spare cash. So basically, as I get more spare dosh I'll probably be more comfortable buying at higher prices, and vica-versa. If it helps, I would say that over the next 12-24 months I wouldn't want to buy above GBP 500, but would consider changing the whole above plan and buy gold regardless if the price falls to the GBP 300-400 range. If gold rises dramatically well before I expect it to - I'll shed no tears as I've done OK, and I'd be very happy for all you guys/gals that are still holding (so long as you then sell!!!!!!!) ...so if all the BigT family plans work out, in 10 years time we'll own a decent home, have rental income of about GBP 20k per year from Switzerland, a cash pot (after selling my new big stash of gold) of GBP 400k, and a decent final salary pension. The kids will be going off to Uni and I can retire early. ....but I'm not counting my chickens :-) Link to comment Share on other sites More sharing options...
wren Posted May 29, 2009 Report Share Posted May 29, 2009 But in a bull market (primary up trend), the most fundamental rule is to get long and stay long. The rising market will eventually cover up even your worst timing mistakes. http://the-moneychanger.com/daily/DailyFile5.htm True about a bull market being kind about timing errors. Just requires patience. -------------------------------------------------------------------------------------------------------------- I would be interested in what you guys think about my bullion-cash balance and how you would play it over the coming months. As of last weekend my gold and silver accounts stood as follows (percentages are euro-equivalents): BullionVault: 70% gold 30% euros GoldMoney: 68% silver 32% euros Totals: 69% bullion (42% gold, 27% silver) 31% euros Longer term I expect to put nearly all the cash into bullion, but I'm worrying about the timing. Over the last few weeks I was thinking that a summer correction would be fairly likely and so it would be good to hold back on big purchases - over the last few weeks I made some small silver purchases, but have kept most of the cash. Right now I feel uncertain about whether or not we will get a good correction in the euro price of gold and silver. So I have begun to think that maybe a lower stress approach would be for me to average in slowly across the whole summer into September. As I mentioned the other day it wouldn't surprise me if we get a run up to the old highs, maybe new highs, in June to July, but followed by a serious correction (smackdown?) in the July to August period. But basically I don't do short or medium term forecasts as such. I just do plausible what if? scenarios. Anyway, I would be interested in what you guys would do given my percentages of bullion and cash as above. Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted May 29, 2009 Report Share Posted May 29, 2009 http://the-moneychanger.com/daily/DailyFile5.htm True about a bull market being kind about timing errors. Just requires patience. -------------------------------------------------------------------------------------------------------------- I would be interested in what you guys think about my bullion-cash balance and how you would play it over the coming months. As of last weekend my gold and silver accounts stood as follows (percentages are euro-equivalents): BullionVault: 70% gold 30% euros GoldMoney: 68% silver 32% euros Totals: 69% bullion (42% gold, 27% silver) 31% euros Longer term I expect to put nearly all the cash into bullion, but I'm worrying about the timing. Over the last few weeks I was thinking that a summer correction would be fairly likely and so it would be good to hold back on big purchases - over the last few weeks I made some small silver purchases, but have kept most of the cash. Right now I feel uncertain about whether or not we will get a good correction in the euro price of gold and silver. So I have begun to think that maybe a lower stress approach would be for me to average in slowly across the whole summer into September. As I mentioned the other day it wouldn't surprise me if we get a run up to the old highs, maybe new highs, in June to July, but followed by a serious correction (smackdown?) in the July to August period. But basically I don't do short or medium term forecasts as such. I just do plausible what if? scenarios. Anyway, I would be interested in what you guys would do given my percentages of bullion and cash as above. have you thought about some platinum and palladium? in addition to gold/silver (outside GM I know) palladium is looking good value in sterling / euro at the moment imho; you can get physical easy enough from ATS Link to comment Share on other sites More sharing options...
wren Posted May 29, 2009 Report Share Posted May 29, 2009 have you thought about some platinum and palladium? in addition to gold/silver (outside GM I know) palladium is looking good value in sterling / euro at the moment imho; you can get physical easy enough from ATS I think it might be too inconvenient for me, being in Finland and paying from a euro-denominated bank account (cheque books do not exist in Finland either). Otherwise I would probably be playing palladium and platinum, especially palladium. I bought a one-ounce platinum coin last December near the low. A nice Isle of Man Noble just so that I have one platinum coin (had to pay 19% VAT!). I find BV and GM so convenient for transferring money easily and buying and later selling. It also saves me from having to research Pl and Pd seriously as I won't invest in anything without researching the market to my satisfaction (I'm just a retail investor but I take it seriously). Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 29, 2009 Author Report Share Posted May 29, 2009 ... My statement merely clarifies that they can continue do this very well (as the gold market is very small compared to the other things they're manipulating) as long as they wish to, and its only a total economic failure that will cause them to give up or become impotent. No. Slow buying and taking delivery will kill the shorts. No meltdown of any dramatic and fast kind is needed for this. Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 29, 2009 Author Report Share Posted May 29, 2009 have you thought about some platinum and palladium? ... I will possibly buy more palladium next week. Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 29, 2009 Author Report Share Posted May 29, 2009 ... Expect the banter, the clang of disinformation, the scare tactics and the mental attacks of holding a winning position. Mentally focus yourself now on a winning attitude that will get you through these challenging times. ... This is some posters' problem on here: they want to hear and spread the gold negative. Some on here talk constantly about it going down soon (so they can buy more ). Apparently they'll never buy more because it always will go down soon. I advise these people to buy US treasuries. You got to be in it to win it! Link to comment Share on other sites More sharing options...
G0ldfinger Posted May 29, 2009 Author Report Share Posted May 29, 2009 The little detour seems to be over. http://gold.approximity.com/gold-silver_watch.html Link to comment Share on other sites More sharing options...
Pixel8r Posted May 29, 2009 Report Share Posted May 29, 2009 This is some posters' problem on here: they want to hear and spread the gold negative. Some on here talk constantly about it going down soon (so they can buy more ). Apparently they'll never buy more because it always will go down soon. I advise these people to buy US treasuries. You got to be in it to win it! Agree 100% (oh no I am sounding like Al Korelin ), thats why I posted CIGA Ken's great letter. In it to win it Link to comment Share on other sites More sharing options...
romans holiday Posted May 30, 2009 Report Share Posted May 30, 2009 69% bullion (42% gold, 27% silver) 31% euros Anyway, I would be interested in what you guys would do given my percentages of bullion and cash as above. Why not have some cheap US dollars besides Euros. Given a good position in bullion already, you are waiting for a correction that may come. Have you considered that this correction may only come in the US dollar price? Bernanke the master manipulator may trigger a crash in the markets and another round of de-leveraging. Then again, all that may be required for this is political protest against further printing and for the fundamentals of the economy to play out. If we get deflation scare 2, most currencies are likely to weaken more than gold which may dip a little against the dollar [forced liquidation] but at the same time strengthen against other currencies as a currency. I have a similiar position though less cash and 50/50 silver. I will be looking to swap silver to gold at around ratio of 50. Link to comment Share on other sites More sharing options...
FWIW Posted May 30, 2009 Report Share Posted May 30, 2009 http://www.marketoracle.co.uk/Article10966.html Link to comment Share on other sites More sharing options...
nicejim Posted May 30, 2009 Report Share Posted May 30, 2009 To answer, I need to set out the backdrop... Like they say, "you can't eat it or live in it". It's a means to an end. Link to comment Share on other sites More sharing options...
Pixel8r Posted May 30, 2009 Report Share Posted May 30, 2009 Monthly Gold Chart for May - All time monthly high in Gold by Dan Norcini http://jsmineset.com/wp-content/uploads/20...or-may-2009.pdf Link to comment Share on other sites More sharing options...
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