gwizzie Posted September 17, 2008 Report Share Posted September 17, 2008 What is the best way to invest in the miners? Can anyone recomend a few that trade on the LSE or maybe a good fund trading on the LSE? shooting fish mate! take your pick, they have been raped and pilaged over the past while. edit: oh...and stay away from aim. Its a joke Link to comment Share on other sites More sharing options...
Steve Netwriter Posted September 17, 2008 Report Share Posted September 17, 2008 Elton John - Rocket Man Link to comment Share on other sites More sharing options...
confounded Posted September 17, 2008 Report Share Posted September 17, 2008 For funds I guess you've got Blackrock or Ruffer maybe - think Ruffer has more juniors out of the 2. Don't think there's anything to recommend in the way of an LSE minors ETF- the best are Canadian I believe. For individual juniors check out Cuthbert's article in last weeks Moneyweek - also check the Mining and Precious Metals section for Bubbs tips. Some of those tipped are LSE / AIM listed I think - but not many. Thanks guys Link to comment Share on other sites More sharing options...
alexreeve Posted September 17, 2008 Report Share Posted September 17, 2008 IG Index OCT-08 spiked down to 846 while the markets were closed. Has anyone here ever seen that before (or more importantly been stopped out like this)? Link to comment Share on other sites More sharing options...
Armchair Posted September 17, 2008 Report Share Posted September 17, 2008 Just want to point out the obvious, in that all the advice of the bulls has so far proved correct: *Don't buy on margin *Don't trade *Buy physical or through Bullionvault or Goldmoney, NOT paper. Good Luck one and all. Link to comment Share on other sites More sharing options...
wrongmove Posted September 17, 2008 Report Share Posted September 17, 2008 This is not about charts. This is about a global financial meltup. Wake up. Gold and tangibles are the only place to be. They can hold it down only for a very limited time. We've seen nothing yet. Firstly, congratulations on today! I would like to respond to the chart bit though. I used to be a TA skeptic, preferring fundamentals. Unfortunately, fundamentals do not work so well in a credit bubble, so I haven't been able to find much value. Now with gold, I simply do not understand the fundamentals, I know the arguments, but beyond physical buying and selling, I cannot "prove beyond reasonable doubt" these theories to myself, so I am unhappy about using this in FA, and I don't have spare cash for what for me would be speculation, not investment. From a "normal" market physical point of view, IMHO, gold is now at the top end of sustainable at about $850, but of course this is not a normal market. So from a physical based value point of view, IMHO, gold would now be a sell, but that is totally irrelevent, because it never got cheap enough to be a buy in the first place (say about $650, with $750 "fair value"). With a value cap on, IMHO of course, you haven't held gold since about $800ish on the way up first time (I never held) The only TA I know is what everyone knows - a few bottoming/topping patterns and a few rules. Stuff that's not even in the introduction sections of what DrB and others use. But the gold chart said sell a good while back, even to me, (as did the equity charts). But now, it has made a "higher high" on volume, a tentative buy signal. If it drops a bit from then zooms through this high, that would be even more bullish. The above is a very cautious approach to TA, so has missed the bottom by about $100, due to massive lack of knowledge on the subject, but I am quoting figures I posted earlier, the above is not just hindsight, and says buy some at this lull at $860, and some more at $860 if it rises off a dip from here. That wouldn't be too bad an entry point if it hits $1650. A quote from the TMF Gold board in response to a complicated argument about deflation and gold I think you're over-analysing this. If gold/silver whatever are going up then buy them, if they are going down then sell. I love the complicated arguments, (and the poster of that quote went on to recommend a long list of ETFs,) but for someone like me who doesn't understand gold fundamentals, it's not a total disaster, IMHO, DYOR. Be fun to see what happens tomorrow! My little pile of cash certainly couldn't keep up today edit: but good wishes, all the same. my pile of cash is so little, that even I barely have a vested interest in it! Link to comment Share on other sites More sharing options...
enrieb Posted September 17, 2008 Report Share Posted September 17, 2008 Elton John - Rocket Man Oh no, no, no William Shatner is the Rock-it Man, burning out his fuse, out here alone! http://www.youtube.com/watch?v=DvQwXOCKNLY...feature=related Link to comment Share on other sites More sharing options...
Steve Netwriter Posted September 17, 2008 Report Share Posted September 17, 2008 And a big round of applause for the volatile one Link to comment Share on other sites More sharing options...
jinbal Posted September 17, 2008 Report Share Posted September 17, 2008 Whats amazed me is that even though I screwed up and bought in at: $905 $970 $950 Instead of averaging in nice and steady like i was supposed to......, my BV account is all but even today which is a reflection of how far GBP/USD has tanked. LOL even with my shite timing I'm now even at $865 Now I've seen that the "spiritual" volatility has more than one direction - I'm much more relaxed about my golden bomb-shelter. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted September 17, 2008 Report Share Posted September 17, 2008 September 18, 2008 Russian central bank pumps £25bn into financial system Tony Halpin in Moscow http://business.timesonline.co.uk/tol/busi...icle4775469.ece Russia's stock exchanges suspended trading for a second day yesterday as share prices continued to slump and as the central bank pumped $45 billion (£25 billion) into the country's three largest banks. Government regulators halted trading after noon on both the dollar-denominated RTS index and the Micex exchange, which trades in roubles, after panic-selling caused shares to plummet. The RTS fell 6.4 percentage points from its two-year low on Tuesday, to 1,058 points, and the Micex declined 4.7 per cent to 840.09 after suffering its worst one-day drop since Russia defaulted on its debt in 1998. Banks took another hammering, with the state-controlled VTB down another 15.7 per cent and Sberbank almost 10 per cent lower. The Government insists that the economy is sound, but ministers held an emergency session as interbank lending all but evaporated, despite massive additional funding from the central bank. The Finance Ministry said that it would place extra funds on deposit with VTB, Sberbank and Gazprombank, the banking arm of Gazprom, to support liquidity. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted September 17, 2008 Report Share Posted September 17, 2008 Bernanke: 'We have lost control' http://www.chicagotribune.com/business/chi...0,4833605.story Economist recounts talk with Fed chairman By Joshua Boak | Chicago Tribune reporter September 17, 2008 NAPLES, Fla. — Several months ago, economist David Hale had a private meeting with Federal Reserve Chairman Ben Bernanke, who was trying to ward off a recession by lowering interest rates and increasing the money supply in the economy. The problem with that approach is that the value of the dollar plunged against foreign currencies, causing crude oil prices to skyrocket because oil is pegged to the dollar. It affected food prices, gasoline and family budgets. "Ben, you are playing a very unique role in world economic history," Hale recalled telling Bernanke, an expert in the Great Depression. "You are the first central bank governor of the United States to preside over a recession with no decline in commodity prices." Bernanke could hypothetically limit inflation in commodities by raising interest rates, a policy that would restrict the flow of money but potentially lead to an avalanche of bank failures. At a financial conference in Florida on Tuesday, Hale, a Chicago-based economist for investment managers, hedge funds and multinational companies, paraphrased the Fed chairman's response. "We have lost control," said Hale, quoting Bernanke. "We cannot stabilize the dollar. We cannot control commodity prices." Link to comment Share on other sites More sharing options...
wrongmove Posted September 17, 2008 Report Share Posted September 17, 2008 "We have lost control," said Hale, quoting Bernanke. "We cannot stabilize the dollar. We cannot control commodity prices." Who thought they were controlling commodity prices? Link to comment Share on other sites More sharing options...
wrongmove Posted September 17, 2008 Report Share Posted September 17, 2008 From the article... Potential upfront costs to the government of maintaining financial stability could reach 24 percent of gross domestic product in the case of a "deep and prolonged recession," the S&P report said. On Wednesday, Chambers compared the U.S. rating to a lobster cooking in a pot of cold water. "The lobster is still in the 'AAA' pot and still moving," Chambers said. "The heat is turning up, but the water is still 'AAA' stable." If US lose AAA, then yes, that would be bullish for gold, in quite a big way. Certainly in dollar terms. No real movement on the dollar. Anyone heard any more on this? I'm away for a couple of weeks soon. I'm not going to miss a currency collapse am I? Link to comment Share on other sites More sharing options...
electroweak Posted September 17, 2008 Report Share Posted September 17, 2008 Coininvest commission now >GBP450 per kilo for the real stuff. Holy Shit. Gold Content: Buy Price: Netto Price: Brutto Price: 1000.00 Gramm £15,193.99 £15,647.29 £15,647.29 Holy HOLY SHIT!!!! now ~GBP490 margin at coininvest for the kilo bars. GET IT NOW WHILE YOU STILL CAN Name: Gold Content: Buy Price: Netto Price: Brutto Price: 1000 gramm bullion 1000.00 Gramm £15,263.84 £15,751.76 £15,751.76 Link to comment Share on other sites More sharing options...
mongoose Posted September 17, 2008 Report Share Posted September 17, 2008 IG Index OCT-08 spiked down to 846 while the markets were closed. Has anyone here ever seen that before (or more importantly been stopped out like this)? Saw this too. Daily spot was still 860 as well. Don't use stops for this reason. Link to comment Share on other sites More sharing options...
Compounded Posted September 17, 2008 Report Share Posted September 17, 2008 US Government is going to be swallowed by this black hole also. Americans will no longer be able to afford it. IMO this is the real story, not hyperinflation, not derivative blowout, but the USA's bankrupsy and economic collapse, hyperinflation of couse will ocour in economic collapse, almost everyone including the Chinese are trying to delay that collapse so it may still be some time before it actually happens, but the USA has debts that are impossible to pay back so it must in the end default. I am with Cgnao the debt like Weimar Germanies debt is the main driver. Pluto! Good to see you! I have missed you too. That's great! However, just for the record, I have actually three "normal" (and smaller) pension schemes myself. They are not in gold. All my other savings are in physical gold and silver, and I try to keep the pension contributions small. But they are some sort of diversification, along with my future lifetime income, that is also not in gold obviously. Since I am VERY far from retiring, I am therefore possibly less exposed to gold/silver than I would like to be, although being 100% invested besides the comparatively small pension schemes. I am 50 in a few months and have a government indexed pension that if fully honoured I could just about manage on if carless after 60, so stuffing everything else in gold is really only insurance for me, insurance that likely to be needed IMO. It is down to you I have realized I need that insurance. FFS I went to HPC because i was wondering about investing in BTL - I have learnt alot in 18 months! I thought they only did this for US residents. How do you transfer a UK pension there? In the USA it offers gold and silver in the UK gold only. Google Buerkely Burke Goldmoney and you should find the links. The only thing is the transfer took 6-8 weeks it worked out fine for me as i first enquired about 2 weeks before Bear Stearns weekend and bought the gold pretty near the May bottom. Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 17, 2008 Author Report Share Posted September 17, 2008 Firstly, congratulations on today! I would like to respond to the chart bit though. ... Wrongmove, that's fine, just do your TA. Meanwhile, I try and protect my assets from a financial nuclear holocaust. If I even profit from it a little, all the better. Good luck. Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 17, 2008 Author Report Share Posted September 17, 2008 ... FFS I went to HPC because i was wondering about investing in BTL - I have learnt alot in 18 months! ... I'd say so! Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 17, 2008 Author Report Share Posted September 17, 2008 Any market that can drop $300 on pure bullshit can easily rise $500 on facts. -- Jim Sinclair (17/09/08) Link to comment Share on other sites More sharing options...
Goldilocks Posted September 17, 2008 Report Share Posted September 17, 2008 Link to comment Share on other sites More sharing options...
Goldilocks Posted September 17, 2008 Report Share Posted September 17, 2008 Link to comment Share on other sites More sharing options...
frizzers Posted September 17, 2008 Report Share Posted September 17, 2008 IG Index OCT-08 spiked down to 846 while the markets were closed. Has anyone here ever seen that before (or more importantly been stopped out like this)? IG are crooks . Do not use them. They are a boiler room. This is a blatant fraud to stop out a load of longs becasue they are on the other side of the bet. Link to comment Share on other sites More sharing options...
Catflap Posted September 17, 2008 Report Share Posted September 17, 2008 For funds I guess you've got Blackrock or Ruffer maybe - think Ruffer has more juniors out of the 2. Don't think there's anything to recommend in the way of an LSE minors ETF- the best are Canadian I believe. For individual juniors check out Cuthbert's article in last weeks Moneyweek - also check the Mining and Precious Metals section for Bubbs tips. Some of those tipped are LSE / AIM listed I think - but not many. Not forgetting the newer Investec Global Gold fund - I think this might eventually turn out to be a better fund than the BlackRock one if you want to buy at the low and then lock in profits at a key price when it's overbought or the dollar is going to rally. No initial charge with HL and one price instead of the buy/sell differential you get with BlackRock Gold & General - you could buy two or three gold funds and split the money evenly, then monitor which is the best performing fund after all the charges and then switch it all to this one. Link to comment Share on other sites More sharing options...
romans holiday Posted September 17, 2008 Report Share Posted September 17, 2008 S&P says pressure building on U.S. "AAA" rating Wed Sep 17, 2008 3:07pm EDT http://www.reuters.com/article/idUKN1752966920080917 NEW YORK (Reuters) - Pressure is building on the pristine "AAA" rating of the United States after a federal bailout of American International Group Inc, the chairman of Standard & Poor's sovereign ratings committee said on Wednesday. The $85 billion bailout of AIG on Tuesday by the U.S. Federal Reserve "has weakened the fiscal profile of the United States," S&P's John Chambers told Reuters in an interview. "Lack of a pro-active stance could have resulted in further financial stress and put pressure on the U.S. triple-A rating," Chambers said. "There's no God-given gift of a 'AAA' rating, and the U.S. has to earn it like everyone else." Good morning all... wowwee.... look at POG The BIG SQUEEZE is on. With the degradation/deflation of the dollar coming... think of all the money to be squeezed out of treasuries... this will see gold go parabolic. Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 17, 2008 Author Report Share Posted September 17, 2008 BTW, who in their right mind is selling gold at $866 at the moment?? The price is sooo depressed, I can't believe it. Link to comment Share on other sites More sharing options...
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