Jump to content

Recommended Posts

  • Replies 30.9k
  • Created
  • Last Reply

Top Posters In This Topic

  • G0ldfinger

    2616

  • romans holiday

    2235

  • drbubb

    1478

  • Steve Netwriter

    1449

What do the top callers say? Do they have good news for me?

 

 

Does this missive from a former GEI regular help?

 

Medium term gold is going to 1050, and long term (by the end year) it is going to 700 because such rising wedge on the monthly is very bearish. If strong bounce of the channel is confirmed I expect it to do an A-B-C move to 1050 rather quickly.

 

http://seekingalpha.com/instablog/481054-k...o-short-to-1050

Link to comment
Share on other sites

Does this missive from a former GEI regular help?

 

 

 

http://seekingalpha.com/instablog/481054-k...o-short-to-1050

 

 

Ker up to his old tricks. I wonder how many people are sucked-in to the mumbo-jumbo of extrapolating the future from looking at charts. It reminds me of the old con of subscribing to a service which sends you the name of a winning horse with the proviso that you will pay them a fee only if their prediction is correct. The names of different horses are sent to different people on the list ensuring that there are always some happy punters convinced that the service has 'inside information'!

Link to comment
Share on other sites

Ker up to his old tricks. I wonder how many people are sucked-in to the mumbo-jumbo of extrapolating the future from looking at charts. It reminds me of the old con of subscribing to a service which sends you the name of a winning horse with the proviso that you will pay them a fee only if their prediction is correct. The names of different horses are sent to different people on the list ensuring that there are always some happy punters convinced that the service has 'inside information'!

 

Heyyyyyyyyy....wait a minute, when I logged into his instablog he had a chart posted saying gold's going to $1500!

Link to comment
Share on other sites

Heyyyyyyyyy....wait a minute, when I logged into his instablog he had a chart posted saying gold's going to $1500!

He says short silver, on August 31. Silver at $19.

 

On Oct 31, two months later, silver is at $25.

 

A loss of 32% in 2 months, and silver is only getting started now that JPMoron and HBSC can't manipulate so easily anymore.

Link to comment
Share on other sites

The crazy thing is he won't admit he's wrong, only that he isn't right yet... Having the courage to admit you were wrong is an admirable quality in my book.

 

He says short silver, on August 31. Silver at $19.

 

On Oct 31, two months later, silver is at $25.

 

A loss of 32% in 2 months, and silver is only getting started now that JPMoron and HBSC can't manipulate so easily anymore.

 

Link to comment
Share on other sites

More Stealth Gold Buying, This Time it’s Iran to the Tune of $15B

 

http://dailyreckoning.com/more-stealth-gol...aily+Reckoning)

 

11/02/10 Stockholm, Sweden – Perhaps the only thing more common these days than central banks increasing their gold holdings, is their ability to do it on the sly. Much like Saudi Arabia came out of nowhere to announce it more than doubled its gold reserves to 323 tonnes, Iran recently came out of the blue to announce it’s added about $15 billion worth of gold to its foreign exchange reserves.

 

According to Mehr News Agency:

 

“[Central Bank governor Mahmoud Bahmani] said that the country’s foreign currency reserve has gained several billion of dollars as a result of the rise in global gold prices. Bahmani said on October 23 that according to World Bank statistics Iran has $100 billion in foreign exchange reserves.

 

“Provided that the World Bank statistics are true any country with this amount of reserves would never hit a dead end, ISNA news agency quoted Bahmani as saying.

 

“It may be possible to exert pressure on a small country with $4-5 billion reserves, but the situation in regard to Iran is different, he said in a reference to efforts by Western countries pressure Iran financially.

 

“He pointed to Iran’s gold reserves and said it had multiplied several times in the past two years. Bahmani went on to say that currently gold consumption in the country is 30 tons per year and if the Central Bank doesn’t add to its gold reserves there will remain ample supplies for the next 10 years.”

 

Now, along with Saudi Arabia, Russia, and China, Iran is joining the club of surreptitious gold-hoarding nations. There appears to be ample evidence this club won’t stay too exclusive for very long. You can read more details on the story in Mehr News Agency’s coverage of how Iran now has no need to import gold for about a decade

 

 

Link to comment
Share on other sites

Gold has bounced back nicely.

The top callers and bubble sayers have been destroyed and totally embarrassed.

 

100% guaranteed.

 

This "correction" was still-born right from the start.

 

Shorters like Ker have made a 10%-32% loss since the end of August alone.

 

Where is my cheap(er) gold!?? I am so annoyed.

 

EDIT: What I need is a really good top caller, the likes of Jim Sinclair, who called the +$800 top in gold in January 1980. All others are just smoke, fog, noise, or worse.

Link to comment
Share on other sites

Agreed, gold is finding it's way in to strong hands. There must be armies of people buying the dips now... Good! :D

 

The top callers and bubble sayers have been destroyed and totally embarrassed.

 

100% guaranteed.

 

This "correction" was still-born right from the start.

 

Shorters like Ker have made a 10%-32% loss since the end of August alone.

 

Where is my cheap(er) gold!?? I am so annoyed.

 

EDIT: What I need is a really good top caller, the likes of Jim Sinclair, who called the +$800 top in gold in January 1980. All others are just smoke, fog, noise, or worse.

 

Link to comment
Share on other sites

Jim Sinclair on KWN.

 

http://kingworldnews.com/kingworldnews/KWN...aded_to_56.html

...

I don’t think QE is good, and I wouldn’t defend the economics of it but I don’t think there was any alternative. The need for the QE basically to infinity and that’s I think what you can call today as a watershed event, the need basically is because the balance sheets of the financial community are all a product of FASB’s permission to value assets that don’t exist, that aren’t there, that are entirely fabricated.

 

The Fed has a better picture of the financial condition of US entities than any central bank anywhere. The Fed has the entire picture of what it’s holding on its balance sheet, the Fed knows the extent and difficulty of the problem. The Fed has kicked the can down the road one more time because there is no other choice.

 

If the Fed hadn’t acted to bail out the international investment banks when the over the counter derivative meltdown first came, you would have had a roll over you wouldn’t believe. So you are stuck between a rock and a hard place, it isn’t right what they are doing but there is no other alternative.

...

Are we in a depression?

 

“We are in unchartered waters with business folding over. We don’t know what the name will be for this. One thing we do know is it’s not dollar positive and that the only insurance out there that would react positively to things we can’t control such as Fed decisions is gold.”

 

Is it ok to let gold run in a day or two?

 

I don’t think you can really control it. I think that gold will run but as of today, whenever the boss speaks, we’ll call him the financial boss, there is always intervention to make the boss look good. It’s never failed, it will always be so, and it is so today.”

Link to comment
Share on other sites

OK, I'm FED up watching this. I think I will check back tonight, and it better be at $950 to make me really happy.

 

Top caller, where are thou?

Well, it's pretty dark outside in my neck of the woods. Do my sore eyes see gold at $950? Nope! And silver seems to want to break $26 tonight.

 

Bless it!

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×
×
  • Create New...