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I read somewhere that the next time gold hits 999, then the world is going to change...

 

Something to do with the mark of the beast and the 3rd time of hitting it...oh and it it may happen in June...

 

Don't really beleive it myself, but something could happen!

 

06/09, 3x999 inverted head and shoulders 999 , 666 ahhhhhhhhhh!! Maybe we are reading too much into this.

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I'm with the reckoning that there's a high chance deleveraging is going to kick in again pretty soon. Gold stood up well last time - and I think it'll stand up even better this time (but may still get dragged down some - particularly at first). Think silver will cope better then last time too - but not as well as gold and there's more risk it'll take a fair whack. So, have (this was painful!) swapped a 1/4 to gold and put a 1/4 to $ (in GM - ready and waiting). Didn't like to do it - but I've had more £s of silver then gold for a long time (including during the last round of deleveraging) and this plan seems to make a bit of sense. Also cut back on pm stocks some - but have spread out to lots of juniors. Trying to duck and dive as best I can (got a few bruises but still standing) - we'll see!

I think it is a good idea to keep a decent amount of powder dry at this stage. Of course you should also have a decent amount of bullion. For me it it a 50/50 split. Gold looks most likely to stay strong here for a while given post QE inflation concerns. However, I remain convinced these inflationary concerns are perceptions which Bernanke, the deflation fighter, is doing his most to promote with threats of continuous QE. The real economic forces still at work are deflationary and when they bite next we may only then see a move down in gold and silver. This will be the time to buy with your cash reserve [though it may still be a good idea to still be averaging in a little at these levels]. The big move up in gold will come when debt-laden currencies buckle to half of their former worth.

 

Investment should be considered akin to warfare. You can have a strategy, but without certain tactics the strategy may remain unrealised. Tactics in investment is mostly about timing; positioning yourself then waiting to take advantage of certain developments.

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Another of Bubb's occasional and sometimes- right WARNINGS...

 

Gold may be done here - Be careful

There's some "nice symmetry" for a top here

http://www.greenenergyinvestors.com/index.php?showtopic=6677

 

If I am wrong, you will get a breakout soon, and it will come with fresh volume.

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Another of Bubb's occasional and sometimes- right WARNINGS...

 

Gold may be done here - Be careful

There's some "nice symmetry" for a top here

http://www.greenenergyinvestors.com/index.php?showtopic=6677

 

If I am wrong, you will get a breakout soon, and it will come with fresh volume.

 

You do yourself an injustice Bubb, you are right a bit more than occasionally.

 

Anyway, do you buy the hold some gold as an insurance arguement? Do you personally have any? I recall on another thread you stating your aim was to accumulate canadian dollars to buy gold in June/July, is that still the case?

 

Thanks for all the good work.

 

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Richard Russell (Dow Theory Letters) sees the H+S pattern too (May 15th):

Aftermarket June gold was up 3.70 as the huge reverse head and shoulder pattern in gold creeps ever-closer to a breakout. All options remain open in the stock market and gold.

 

I am following intently!

 

 

 

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Another of Bubb's occasional and sometimes- right WARNINGS...

 

Gold may be done here - Be careful

There's some "nice symmetry" for a top here

http://www.greenenergyinvestors.com/index.php?showtopic=6677

 

If I am wrong, you will get a breakout soon, and it will come with fresh volume.

Alternatively you could do as star hedge fund Paulson & Company have done and take a very large position in gold ahead of the global currency devaluation coming.

 

I have heard this weekend on FSN that Paulson & company now own 8.7% of GLD, he also owns a 15% stake in the Market Vectors Gold Mining ETF as well as large stakes in miners in the HUI.

 

http://www.bloomberg.com/apps/news?pid=206...&refer=home

 

May 15 (Bloomberg) -- Paulson & Co., the hedge-fund firm run by billionaire John Paulson, increased its investment in gold and gold-mining shares in the first quarter, according to a regulatory filing.

 

As of the end of the first quarter, Paulson was the largest holder of SPDR Gold Trust, an investment fund that buys gold bullion. The New York-based firm owned 8.7 percent of the fund, valued at $2.8 billion as of March 31, according to a filing with the U.S. Securities and Exchange Commission.

 

That position was established as a hedge, the company said in a statement, because its funds have a share class that is denominated in gold rather than in dollars or euros.

 

Paulson bought or added to several gold companies in the quarter as well. He purchased a 15 percent stake in Market Vectors Gold Miners ETF, a fund that mirrors the move in the Amex Gold Miners Index. That stake was worth $638 million at the end of the quarter.

 

Paulson also bought a 2.6 percent of Gold Fields Ltd., becoming the fourth-largest holder of the Johannesburg-based gold miner.

 

The investment firm, which manages $26 billion, also bought an additional 2.4 million shares of Kinross Gold Corp. Paulson owned 4.4 percent of the Toronto-based gold producer and was its third-largest holder at the end of the quarter.

 

Paulson reported owning an 11.3 percent stake in AngloGold Ashanti Ltd., also based in Johannesburg, in March.

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I think it is a good idea to keep a decent amount of powder dry at this stage. Of course you should also have a decent amount of bullion. For me it it a 50/50 split. Gold looks most likely to stay strong here for a while given post QE inflation concerns. However, I remain convinced these inflationary concerns are perceptions which Bernanke, the deflation fighter, is doing his most to promote with threats of continuous QE. The real economic forces still at work are deflationary and when they bite next we may only then see a move down in gold and silver. This will be the time to buy with your cash reserve [though it may still be a good idea to still be averaging in a little at these levels]. The big move up in gold will come when debt-laden currencies buckle to half of their former worth.

 

Investment should be considered akin to warfare. You can have a strategy, but without certain tactics the strategy may remain unrealised. Tactics in investment is mostly about timing; positioning yourself then waiting to take advantage of certain developments.

Spot on IMO, you've heard of the Greenspan put now we have the Bernanke bluff....

 

Another shake out of the weak hands is due.

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Spot on IMO, you've heard of the Greenspan put now we have the Bernanke bluff....

 

Another shake out of the weak hands is due.

Cheers. I agree and was using the same language a while back. All Bernanke can do is buy some time.

BlackHawkDown3.jpg

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The right hand shoulder of the gold chart seems to be completing quite nicely. Todays action further shows this. Fireworks in June????

Looks like both are shrugging to me. :rolleyes:

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Gold: 'It's a bargain at $930 an ounce'

 

The bullish outlook for gold rests on the increasing likelihood of accelerating US inflation.

China has played in important role in sucking fiat out of the Western economy for the last decade or more, and that has counteracted the inflationary pressure that would normally be expected given this increase in money supply. Additionally, as we all know, they've made cheap stuff, which also keeps inflation down.

 

I am now starting to feel that these anti-inflationary pressures are far greater than I've given them credit for in the past.

 

Add in the deflationary influence of a global slowdown, and it starts to look like it'll be quite some time until inflation really takes off in the West.

 

In summary: I am sure we will have massive inflationary problems in the future, but that future may be quite a few years away, and not just a few months.

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China has played in important role in sucking fiat out of the Western economy for the last decade or more, and that has counteracted the inflationary pressure that would normally be expected given this increase in money supply. Additionally, as we all know, they've made cheap stuff, which also keeps inflation down.

 

I am now starting to feel that these anti-inflationary pressures are far greater than I've given them credit for in the past.

 

Add in the deflationary influence of a global slowdown, and it starts to look like it'll be quite some time until inflation really takes off in the West.

 

In summary: I am sure we will have massive inflationary problems in the future, but that future may be quite a few years away, and not just a few months.

I think mid June is going to be the take off time for Gold, when we break $1000 for the last time. Which will be the completion of the right shoulder and send us on a path to $1300+

 

I do feel a bit like the only gold bull left on here at the moment :)

 

This from Jim Sinclair tonight;

 

Jim,

 

The US dollar is down and oil is up…

Whasassup with Au?

 

CIGA Lew

 

Dear CIGA Lew,

 

Home building sentiment is up. All is well with the US economy.

 

The Administration tells Israel not to screw up its coming negotiations with Iran. There is peace in the Middle East.

 

The West is always lead around by the nose when it comes to Iranian negotiations. When will the West learn?

 

The Crimex does its usual tap dance on paper gold as they are much too short for an extended rally here and now.

 

That rally comes in June!

 

Gold traders do their sell weakness after buying strength suicidal strategy. They will never learn.

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I think mid June is going to be the take off time for Gold, when we break $1000 for the last time. Which will be the completion of the right shoulder and send us on a path to $1300+

 

I do feel a bit like the only gold bull left on here at the moment :)

 

This from Jim Sinclair tonight;

youre not alone

 

suppose it depends whether you trade short term movements

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I think mid June is going to be the take off time for Gold, when we break $1000 for the last time. Which will be the completion of the right shoulder and send us on a path to $1300+

 

I do feel a bit like the only gold bull left on here at the moment :)

There are plenty of bulls around here. Perhaps you are confusing bugs for bulls and then I would agree there are a few less bugs about.

 

Bugs being the simplest of species have been possessed of one highly excited thought; precious metal must always go up. This must get quite exhausting and some are now do doubt in need of rest. The bull, a more sobre and complex creature [though also excitable at times], sees the price of gold caught up in the matrix of market forces. The bull thinks about using these forces strategically to his advantage and is quite happy to wait for certain conditions to eventuate.

 

I also wonder if bugs view gold as more than a mere means and as an end in itself......

:)

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Jim Sinclair’s Commentary

 

It starts as an investment, but becomes insurance. The policy pays off. Trading your insurance policy is not advisable.

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i wouldn't mind it going down a little in the next week - pay day time at the end of the month and i may be able to afford to get a couple more oz's for the pile ;)

 

it may look like everything has been fixed to the general public but it obviously hasn't and i can't see anywhere else to put my money other than gold and silver. I finally managed to convince my mate to buy a little gold recently - i think it will end up being the best thing he ever did.

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