woody Posted June 6, 2008 Report Share Posted June 6, 2008 Took oil nicely through $130 as well. I'm slightly gutted to have missed the last mini ride. I had a speculative £1/point order to open on August crude at 12175 which didn't trigger (missed by about 30 pts from what I can see on the charts). Now trading at 13318 ... would probably have been the easiest £1k of my life! Ah well, I'm also expecting it to head back southwards at some point soon. There will be another chance. I was toying with going back in this morning so kicking myself now too! Just closed my eyes and done so in a small way on the back of the Morgan Stanley prediction and the bull case that put me in last time! in the money now but hoping to play most of it through gold and silver positions renewed over the last week or so. Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted June 6, 2008 Report Share Posted June 6, 2008 Its based on the spot price and silvers gone up a little bit since. How much did they quote you? a price of 14.36 GBP plus VAT they have to order them in apparently. I like britts because of CGT and the higher premiums fetched on eBay, but I am finding that the price over spot is too high is it me or are they hard to get hold of! Link to comment Share on other sites More sharing options...
Bobsta Posted June 6, 2008 Report Share Posted June 6, 2008 hoping to play most of it through gold and silver positions renewed over the last week or so. I might be speaking too soon... but it looks like someone's lit the silver touch-paper... Link to comment Share on other sites More sharing options...
marceau Posted June 6, 2008 Report Share Posted June 6, 2008 If the PPT has any sense they'll hit gold here and create a double top, then we'll fall back into the lower $880s. If they don't stop it from getting past $896 then we'll go through $900 with ease and they'll probably lose control during next week's market. At the moment I'm still long with half the positions I bought earlier today. I'll only add once $896 is broken. I don't think we'll make it somehow, the cartel will probably put the boot in at just the wrong moment and mess it all up. Edit: The dollar's looking very sick indeed now. I think it's going to go towards 70 on the index in pretty short order. Link to comment Share on other sites More sharing options...
electroweak Posted June 6, 2008 Report Share Posted June 6, 2008 If the PPT has any sense they'll hit gold here and create a double top, then we'll fall back into the lower $880s. If they don't stop it from getting past $896 then we'll go through $900 with ease and they'll probably lose control during next week's market. At the moment I'm still long with half the positions I bought earlier today. I'll only add once $896 is broken. I don't think we'll make it somehow, the cartel will probably put the boot in at just the wrong moment and mess it all up. Edit: The dollar's looking very sick indeed now. I think it's going to go towards 70 on the index in pretty short order. Just touched $896.08, guess it will drop now... Link to comment Share on other sites More sharing options...
marceau Posted June 6, 2008 Report Share Posted June 6, 2008 Broke $896 briefly. Oil looks good, euro massively strong. I'm adding. Edit: Link to comment Share on other sites More sharing options...
woody Posted June 6, 2008 Report Share Posted June 6, 2008 Just touched $896.08, guess it will drop now... I reckon it'll sneak through.Too much bad news elsehwere today! Still seems strong although that could look like wishful thinking in a bit :-) W Link to comment Share on other sites More sharing options...
marceau Posted June 6, 2008 Report Share Posted June 6, 2008 Shorters last stand here I think. We could really pop if we cross $900. Even if we do drop back I'm betting it won't be far before we take another shot. Fingers crossed. Link to comment Share on other sites More sharing options...
dietcolaaddict Posted June 6, 2008 Report Share Posted June 6, 2008 PMs all on Viagra today. Up, up and away. Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted June 6, 2008 Report Share Posted June 6, 2008 time for a rocket?! Link to comment Share on other sites More sharing options...
marceau Posted June 6, 2008 Report Share Posted June 6, 2008 time for a rocket?! Not quite yet. We.... Just.... Need.... One.... More.... Dollar..... Link to comment Share on other sites More sharing options...
whoops_apocalypse Posted June 6, 2008 Report Share Posted June 6, 2008 An ominous day for the masses it appears... Stocks tanking, unemployment rising at the fastest pace in 22 years, commodities going to the moon and the US$ resumes its date with destiny. Could the dollar collapse (this summer) brigade be correct e.g. James Turk, John Rubino, Jim Puplava, et al.? Well, a hot steamy few months has been forecasted, so make sure you get yourselves some of them gold and silver air-con units just in case... Link to comment Share on other sites More sharing options...
woody Posted June 6, 2008 Report Share Posted June 6, 2008 Not quite yet. We.... Just.... Need.... One.... More.... Dollar..... There's at least a couple of Dollars upside in crude still I reckon - I'd expect shorts to come in again at $135, $ still really weak so it all looks good for gold short term. I think there's a good degree of catching up there too, especially to oil. I've got so many things crossed this'll probably be the last post for today!! Link to comment Share on other sites More sharing options...
G0ldfinger Posted June 6, 2008 Author Report Share Posted June 6, 2008 An ominous day for the masses it appears... Stocks tanking, unemployment rising at the fastest pace in 22 years, commodities going to the moon and the US$ resumes its date with destiny. Could the dollar collapse (this summer) brigade be correct e.g. James Turk, John Rubino, Jim Puplava, et al.? Well, a hot steamy few months has been forecasted, so make sure you get yourselves some of them gold and silver air-con units just in case... Hi Whoops, good to see you back. I think you're spot on here. Some people have a rude awakening today. Especially after all the talk of the credit crunch being behind us etc. This could be a key event today. EDITed to add: - House price are already YoY negative in the UK, dropping fast. This is an eye-opener. - High crude oil prices will start feeding through to the gas pumps in the US ($120 hasn't arrived there yet, keep this in mind). - Even the rigged indicators like CPI and payrolls start to look gloomy. Link to comment Share on other sites More sharing options...
marceau Posted June 6, 2008 Report Share Posted June 6, 2008 There's at least a couple of Dollars upside in crude still I reckon - I'd expect shorts to come in again at $135, $ still really weak so it all looks good for gold short term. I think there's a good degree of catching up there too, especially to oil. I've got so many things crossed this'll probably be the last post for today!! We SHOULD be on our way to $920 by now. But those cartel batty boys are digging in unfortunately. I still think we'll make it and they'll end up getting burned (for the millionth time). Link to comment Share on other sites More sharing options...
Bobsta Posted June 6, 2008 Report Share Posted June 6, 2008 Not quite yet. We.... Just.... Need.... One.... More.... Dollar..... I've just done my bit to try and push us to a close over $900. Only £4.88 cash left in my BV account now. The rest is shiny yellow stuff in Zurich. Link to comment Share on other sites More sharing options...
G0ldfinger Posted June 6, 2008 Author Report Share Posted June 6, 2008 DJIA -282 now. I guess it is time for the big oil money to come in and turn it around. After all, they have to buy SOMETHING, and they can't buy gold because then the system would fall apart. So, unfortunately for them (but fortunately for some retail investors and pension funds) they need to buy stocks. Link to comment Share on other sites More sharing options...
G0ldfinger Posted June 6, 2008 Author Report Share Posted June 6, 2008 We SHOULD be on our way to $920 by now. But those cartel batty boys are digging in unfortunately. I still think we'll make it and they'll end up getting burned (for the millionth time). What can you expect. This is a Friday and they have to paint a chart. Link to comment Share on other sites More sharing options...
whoops_apocalypse Posted June 6, 2008 Report Share Posted June 6, 2008 Hi Whoops, good to see you back. I think you're spot on here. Some people have a rude awakening today. Especially after all the talk of the credit crunch being behind us etc. This could be a key event today. Hi GF, Been very busy of late what with work and finding a new rental to park ourselves in for the next couple of years... You guys won't believe the things the missus and I have witnessed in the UK property market lately, should start a thread about it really as some of the anecdotes we have would send shivers down the backs of all but the most doom mongerish amongst you. Perhaps after we've moved next week and broadband has been re-established over at the new place which should be in mid June just before the real fireworks start hopefully... Stay invested you all, as I dread to think what's really lurking around the next economic corner... Link to comment Share on other sites More sharing options...
marceau Posted June 6, 2008 Report Share Posted June 6, 2008 DJIA -282 now. I guess it is time for the big oil money to come in and turn it around. After all, they have to buy SOMETHING, and they can't buy gold because then the system would fall apart. So, unfortunately for them (but fortunately for some retail investors and pension funds) they need to buy stocks. Yes, I can see a 'miracle' rally happening this evening. But just think of the hilarity if the DOW does plunge and Bernanke has to pull another emergency rate cut - straight after jawboning his 'strong dollar' intentions to the world. What an utter berk he is. Link to comment Share on other sites More sharing options...
marceau Posted June 6, 2008 Report Share Posted June 6, 2008 Trying to stop oil is like trying to stop a speeding freight train today. It really has smashed the shorts to pieces so far. The most important question is whether it can make another high? If so I think gold will follow and cut loose itself. Edit: Looks like the cartel are getting scared, they just started bashing PMs again. Link to comment Share on other sites More sharing options...
marceau Posted June 6, 2008 Report Share Posted June 6, 2008 Oil pushing above $137 and going for $140 now, absolutely amazing. Gold still hasn't moved though, talk about manipulation! Link to comment Share on other sites More sharing options...
electroweak Posted June 6, 2008 Report Share Posted June 6, 2008 Trying to stop oil is like trying to stop a speeding freight train today. It really has smashed the shorts to pieces so far. The most important question is whether it can make another high? If so I think gold will follow and cut loose itself. Edit: Looks like the cartel are getting scared, they just started bashing PMs again. Well, it (oil) has made another high; 136.05 last time i looked! EDIT: it just hit $138 !!! Link to comment Share on other sites More sharing options...
woody Posted June 6, 2008 Report Share Posted June 6, 2008 Oil pushing above $137 and going for $140 now, absolutely amazing. Gold still hasn't moved though, talk about manipulation! Heating oil has just hit the NYMEX limit, looks like Crude is going to follow!!! George Bush is speaking on the economy later, that is sure to yield safe haven buying Link to comment Share on other sites More sharing options...
marceau Posted June 6, 2008 Report Share Posted June 6, 2008 Well, it (oil) has made another high; 136.05 last time i looked! I just can't believe gold isn't responding. For those who don't believe in manipulation of the market there is evidence right here and now. Oil blasting to new highs while gold and silver mysteriously start to drop. Link to comment Share on other sites More sharing options...
Recommended Posts
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 accountSign in
Already have an account? Sign in here.
Sign In Now