bitbigt Posted January 30, 2009 Report Share Posted January 30, 2009 Remember these ? ...My my what good timing. Great post Steve! Link to comment Share on other sites More sharing options...
bitbigt Posted January 30, 2009 Report Share Posted January 30, 2009 Who was it that, at the beginning of January, polled us all for an 'end of January' prediction survey? Is there a plan for summarising the outcome, and running another? Link to comment Share on other sites More sharing options...
id5 Posted January 30, 2009 Report Share Posted January 30, 2009 Who was it that, at the beginning of January, polled us all for an 'end of January' prediction survey? Is there a plan for summarising the outcome, and running another? It was me and yes I will crunch the results tomorrow and ask for next months predictions Link to comment Share on other sites More sharing options...
Gibber Posted January 30, 2009 Report Share Posted January 30, 2009 Remember these ? Goldman Sachs Net Short position. My my what good timing. I know that pictures are worth a thousand words. But I'm not getting this. Any chance of a narrative that will explain what the charts are showing? Link to comment Share on other sites More sharing options...
lupercal Posted January 30, 2009 Report Share Posted January 30, 2009 Reasons to sell. http://www.financialsense.com/Market/wrapup.htm * Adjusted for inflation in 2008 dollars, $1,000 has been the high water price for gold since Sir Isaac Newton first standardized it in 1717. (The NG article has a great chart of this.) * Every time it has spiked through this level in the past three centuries, gold prices have fallen for the next 100 years or so. * Investors are marginal buyers of gold. Jewelry and trinket demand have accounted for about 75% of global gold demand this decade. * Worldwide jewelry demand collapsed with other wealth in 2008, and is expected to fall further in 2009. * In all of history only 161,000 tons of gold have ever been mined, barely enough to fill two Olympic-size swimming pools. More than half of that supply has been extracted from the earth in the past 50 years alone. I'm not selling anything though. My back is killing and I dont fancy digging it up. Link to comment Share on other sites More sharing options...
electroweak Posted January 30, 2009 Report Share Posted January 30, 2009 I know that pictures are worth a thousand words. But I'm not getting this. Any chance of a narrative that will explain what the charts are showing? By amazing coincidence, Goldman Sachs managed to 'zeroise' their short gold position just at the apparent bottom in gold price. Now, did they go long?! Link to comment Share on other sites More sharing options...
G0ldfinger Posted January 30, 2009 Author Report Share Posted January 30, 2009 Reasons to sell. ... I mean, seriously. Link to comment Share on other sites More sharing options...
Pluto Posted January 30, 2009 Report Share Posted January 30, 2009 Miners not joining in this rally. Either the rally is going to retract or the miners are going to the launch pad ready for count-down. Link to comment Share on other sites More sharing options...
Catflap Posted January 30, 2009 Report Share Posted January 30, 2009 Gold getting a lot of coverage lately All signs of a major top coming - I hope no one is buying this final peak as the general public sure will be with all the stories going round. Inflation going lower (deflation) and stockmarkets poised to rally which is a disaster for gold - I think we have another 10 to 14 days left and we will hit an all-time high getting close to $1,100. Time to think about taking some profits ready for much cheaper prices in 2010 before the exciting stage Link to comment Share on other sites More sharing options...
Steve Netwriter Posted January 30, 2009 Report Share Posted January 30, 2009 All signs of a major top coming - I hope no one is buying this final peak as the general public sure will be with all the stories going round. Inflation going lower (deflation) and stockmarkets poised to rally which is a disaster for gold - I think we have another 10 to 14 days left and we will hit an all-time high getting close to $1,100. Time to think about taking some profits ready for much cheaper prices in 2010 before the exciting stage Nahhhhhh Goldman Sachs have to wait for everyone else to go long and for the price to get up to about $1250 before they go short. They have to profit on the way down and on the way up. There's not been enough profit for them on the way back up yet Of course, if the 1970s repeat, they'll lose control and just see it going up up up with almost no falls. Gibber, The first two charts are from articles written a while ago about the way Goldman Sachs were reducing their short position. Suggesting the bottom was going to be in late Nov. and presumably they'd be going net long at that point. Looking at the chart last night I was reminded of those articles and checked to see what the predicted bottom date was. No surprise there then Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted January 30, 2009 Report Share Posted January 30, 2009 sold some coins today - the reasoning is that I needed to offload personal physical to buy allocated physical. Just hope that the interim period doesn't prove costly! bought some oil (crud.l) as well this week, will see what happens Link to comment Share on other sites More sharing options...
Steve Netwriter Posted January 30, 2009 Report Share Posted January 30, 2009 Who was it that, at the beginning of January, polled us all for an 'end of January' prediction survey? Is there a plan for summarising the outcome, and running another? Time to remember this poll from Mar 2008. When will gold reach $1000, $1200 & $10,000 ?, The winner wins a chocolate gold coin (virtually) Started: Mar 7 2008 http://www.greenenergyinvestors.com/index.php?showtopic=2882 The poll results for $1200 (from March 2008): It looks like only 5 people have a chance of being right ! Link to comment Share on other sites More sharing options...
electroweak Posted January 30, 2009 Report Share Posted January 30, 2009 sold some coins today - the reasoning is that I needed to offload personal physical to buy allocated physical. Just hope that the interim period doesn't prove costly! bought some oil (crud.l) as well this week, will see what happens My local dealer was reporting very brisk business today. several 1 oz coins in which sold same day (today). Seems there is very strong buying, even the shop owners cant believe where its coming from. They said they had never seen anything like it. Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted January 30, 2009 Report Share Posted January 30, 2009 My local dealer was reporting very brisk business today. several 1 oz coins in which sold same day (today). Seems there is very strong buying, even the shop owners cant believe where its coming from. They said they had never seen anything like it. Interesting. I think £buyers will hold value for a while as it's now the euros turn for the short sellers (imho). Of course if gold breaks out of the longer-term upward channel it's held for some months now, all bets are off! Link to comment Share on other sites More sharing options...
romans holiday Posted January 30, 2009 Report Share Posted January 30, 2009 sold some coins today - the reasoning is that I needed to offload personal physical to buy allocated physical. Just hope that the interim period doesn't prove costly! bought some oil (crud.l) as well this week, will see what happens did the same a month back. the POG [in US] remained favorable in the interim though the currency I was parked in for a few weeks proved fickle. Was quite telling really... I think this year will be about currencies. Link to comment Share on other sites More sharing options...
G0ldfinger Posted January 30, 2009 Author Report Share Posted January 30, 2009 sold some coins today - the reasoning is that I needed to offload personal physical to buy allocated physical. ... I think I will do exactly the opposite some time in the not too distant future. Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted January 30, 2009 Report Share Posted January 30, 2009 I think I will do exactly the opposite some time in the not too distant future. I will still have more %personal physical than %allocated physical, but I need some allocated to satisfy the trigger finger. My silver is 100% personal physical. Link to comment Share on other sites More sharing options...
Pixel8r Posted January 30, 2009 Report Share Posted January 30, 2009 Suggesting the bottom was going to be in late Nov. and presumably they'd be going net long at that point. Saw this on Gold is Money in December; GOLDMAN SACHS MAKES MASSIVE COVERING OF GOLD SHORTS - GOES NET LONG! In the December 18 session on the TOCOM Goldman Sachs COVERED an absolutely gob-smacking 1,307 gold short contracts which reduces their short position to just 495 contracts and leaves their long position unchanged at 1,337 contracts and makes them NET LONG – REPEAT, NET LONG 842 contracts. This is an absolutely stunning development! This is the largest net long position they have held ever since I have been tracking the TOCOM data which is almost 3 years. Considering Goldman’s role in the Cartel and links to the Treasury this is of earth shattering significance. It should also be noted that for ANY trader to be buying 1.3 tonnes of gold in a single day it deserves attention, when it is Goldman Sachs it has special significance. There are more and more signs that the gold market is about to make a very big upwards move. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted January 30, 2009 Report Share Posted January 30, 2009 Saw this on Gold is Money in December; Geez, I've forgotten that one ! Thanks for the reminder. I must get back to reading the COT reports ! Link to comment Share on other sites More sharing options...
G0ldfinger Posted January 30, 2009 Author Report Share Posted January 30, 2009 http://gold.approximity.com/since1985/Gold_GBP.html Link to comment Share on other sites More sharing options...
electroweak Posted January 30, 2009 Report Share Posted January 30, 2009 deleted. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted January 31, 2009 Report Share Posted January 31, 2009 I thought I'd create the new thread before anyone reminded me And it gives me a chance to start off this thread with a very bullish post. Last thread is here: http://www.greenenergyinvestors.com/index.php?showtopic=5471 Last post here: http://www.greenenergyinvestors.com/index....ost&p=93381 Link to comment Share on other sites More sharing options...
Steve Netwriter Posted January 31, 2009 Report Share Posted January 31, 2009 Open interest is still a miniscule 348,000 contracts, far, far off from the peak made back when gold took out $1,000 where it peaked above 593,000. Can you see why this market is in such a bullish posture with the open interest readings at such a low level and gold less than $80 away from the $1,000 level? The funds could add another 150,000 new longs and the open interest would still be almost 100, 000 off the peak! That is simply astonishing to this long-time trader. It is difficult trying to maintain a modicum of objectivity and not let one’s emotions cloud their judgment when analyzing this market simply because even contemplating another 100,000 new longs along, much less 150,000 or even 200,000 and $1500 gold would be a given. The bullion banks are going to have to absorb a tremendous amount of buying to merely keep gold from charging to $1000. Hourly Action In Gold From Trader Dan http://jsmineset.com/index.php/2009/01/30/...-trader-dan-57/ IMO it's pretty certain we are now in a mini bull phase. If you are trying to buy, that means looking for higher lows, not lower lows. If you are looking to sell, well you are beyond hope Link to comment Share on other sites More sharing options...
Steve Netwriter Posted January 31, 2009 Report Share Posted January 31, 2009 Please use the new thread: Gold Trading and Investment, #12: Feb. 2009 Rock, Paper, Scissors - Gold Always Wins http://www.greenenergyinvestors.com/index.php?showtopic=5825 Link to comment Share on other sites More sharing options...
drbubb Posted January 31, 2009 Report Share Posted January 31, 2009 TOO MANY GOLD BULLS - be very careful now! I have seen polls where 90%+ of the people polled were bullish on gold. From my Feb. diary: Dash for cash - Why? People have become too bullish on gold. Something like 90% of people polled were saying that Gold was a "Buy." Here's a question: If you thought gold was headed higher to $1,000 or $1,500, would you wait for the market to run up to buy it, or would you have bought already. If those who are planning to buy gold have bought already, who is going to do the buying to lift it higher? This may be a problem for the gold market from here. I am still long gold shares (quite a few of them in fact), so if Gold runs higher, I will make money. But I have been lightening up everyday in a "dash for cash" Link to comment Share on other sites More sharing options...
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