GOLD

[Vedantafxtrader]

To be honest, I am not quite sure what to think of this one:

 

"7. This is the gold rapture."

 

I'll say it again, he sure is flying high!

 

Here's the problem as I see it. If you think the price can only explode to the upside imminently, then this will have the effect of you immediately valuing your money a lot less. You will then want to spend/ invest all of it at once in a rush to gold. This is hardly observing the basic priciples of investment, where one is rational, unemotional and unrushed in their decisions [strategic and warlike... thinking Art of War here]. Need I add hedged?

 

Newbie not so die-hard gold-bugs will take one massive psychological hit, if the price declines on another credit crunch, or on a snap-back in the carry trade, and might be so traumatized, [having gone "all in"] as to sell at the very wrong moment. I'd add that this is why gold may go on another dip due to weak hands/minds, in the mass market, holding it [misguidedly imo] as an inflation hedge.

 

You might not agree that this will happen, but you would have to agree that it is a very real risk.

 

 

I found Hugh Hendry to use an interesting term..an asymmetric trade. One where if you are wrong, you don't lose much but if right you make a fortune. As I understand RH this is kind of what you seem to be doing. You have gold, so if it takes off, all well and good...however, if it takes off and the USD does collapse then you won't lose money...Whereas if you are right and you get into USD and it has the mother of all bounces then you ll make a lot. I follow a similar strategy all around. I try not to do any trade until it gets to the point where your nearly "certain" to be right. Also at these turning points the risk/reward scenario is most attractive.

[romans holiday]

I found Hugh Hendry to use an interesting term..an asymmetric trade. One where if you are wrong, you don't lose much but if right you make a fortune. As I understand RH this is kind of what you seem to be doing. You have gold, so if it takes off, all well and good...however, if it takes off and the USD does collapse then you won't lose money...Whereas if you are right and you get into USD and it has the mother of all bounces then you ll make a lot. I follow a similar strategy all around. I try not to do any trade until it gets to the point where your nearly "certain" to be right. Also at these turning points the risk/reward scenario is most attractive.

Yes, I think we are pursuing a similiar strategy, albeit with different tactics. As far as tactics go, I guess it is a case of dealing with what you know best, and are most comfortable with. I believe Nassim Taleb is also pursuing some such approach with a fund he manages.

 

As an investor, I think the "fundamentals" are good for gold, and am basically betting on a future gold-backed reserve currency. As a hedger, I think the markets will be very volatile, with massive swings between currencies, from the centre to the periphery and back again, along the lines of the "market phenomenology" that Bubb has outlined. Essentially, it is all about the fx market now imo.

[Pixel8r]

Can I just say go, go Jinshan (JIN.TO). + 12.5% yesterday and another +8% so far today. 400% up in 8 months, now thats a return

 

 

[Mr Pipples]

To be honest, I am not quite sure what to think of this one:

 

"7. This is the gold rapture."

 

I'll say it again, he sure is flying high!

 

Here's the problem as I see it. If you think the price can only explode to the upside imminently, then this will have the effect of you immediately valuing your money a lot less. You will then want to spend/ invest all of it at once in a rush to gold. This is hardly observing the basic priciples of investment, where one is rational, unemotional and unrushed in their decisions [strategic and warlike... thinking Art of War here]. Need I add hedged?

 

Newbie not so die-hard gold-bugs will take one massive psychological hit, if the price declines on another credit crunch, or on a snap-back in the carry trade, and might be so traumatized, [having gone "all in"] as to sell at the very wrong moment. I'd add that this is why gold may go on another dip due to weak hands/minds, in the mass market, holding it [misguidedly imo] as an inflation hedge.

 

You might not agree that this will happen, but you would have to agree that it is a very real risk.

Did you read this article properly RH? He's warning not to pile in now if you haven't got any/missed out. Have you read any of his other articles? I'd say you've totally got the wrong end of the stick in your call on Steve Thomson's strategy and approach. The guy is pro-gold but very cautious in how he trades. Take another look - you can check out plenty of his stuff at 321gold and his website.

 

 

 

[DoctorSolar]

To be honest, I am not quite sure what to think of this one:

 

"7. This is the gold rapture."

 

I'll say it again, he sure is flying high!

 

With this guy you just have to understand his verbal style. He is prone to hyperbole but once you know that and understand that he uses that to comic effect you get the picture. He most certainly does not think gold will go up in a straight line and says as much.

 

Here's the problem as I see it. If you think the price can only explode to the upside imminently, then this will have the effect of you immediately valuing your money a lot less. You will then want to spend/ invest all of it at once in a rush to gold. This is hardly observing the basic priciples of investment, where one is rational, unemotional and unrushed in their decisions [strategic and warlike... thinking Art of War here]. Need I add hedged?

 

If you had actually read the whole article you would have noticed he went on to say:

 

So the tactics for traders and investors are the same. Wait. Don't join all the idiots madly buying this price strength. If you failed to buy at 680, 905, and other key lows, don't buy now. Now you say, "Stewart, I'm a human being, I just gotta get in on this. I'm like a drug addict looking at this strength, I can't sit here and watch, I need a fix!" Well, slow down and think

 

[DoctorSolar]

Did you read this article properly RH? He's warning not to pile in now if you haven't got any/missed out. Have you read any of his other articles? I'd say you've totally got the wrong end of the stick in your call on Steve Thomson's strategy and approach. The guy is pro-gold but very cautious in how he trades. Take another look - you can check out plenty of his stuff at 321gold and his website.

Yep I got the wrong end of the stick with this guy at first too. But I spent time and actually read his stuff fully now I get it and really like what he is doing. His hyperbole is clearly just that and it should be obvious to most readers that he knows he is using hyperbole. He obviously has a great way with words and if he can make me laugh and have fun while i am investing then that approach works for me just great. As I said at least if he is wrong i got some comedy genius entertainment out of it

[Pixel8r]

Noticed a cool chart in an article I was reading today, the relative gold chart shows we are far from overbought in gold currently.

 

Relative Gold chart

 

The relative Gold Chart (rGold) is gold divided by its own 200 dma. It has proven to be a reliable indicator in spotting major bottoms for gold ever since the gold bull market began in April 2001.

Since the gold bull market began in April 2001 gold made two major tops in which it exceeded its own 200 dma by more than 30%. (rGold value > 1.3). This happened in May 2006 and in March 2008.

 

On the downside gold has made some major bottoms in which it dropped below its own 200 dma by 5 - 10% (rGold value 0.90 - 0.95)

 

The rGold range of 0.90 - 0.95 has proven to be a reliable BUY indicator indeed over the last 7 years

 

 

The relative gold chart leaves no doubt, gold has plenty of upward potential before reaching extreme overbought territories.. The relative gold chart would reach previous peaks (2006/2008) if gold would reach $1285 which is indeed consistent with my earlier projection of $1300 by spring next year..

 

Now with $1300 gold in mind for spring next year and gold prices headed to $5000 or more the years ahead (see my piece ‘Gold - Last Time to Buy gold below $1000?’, what could it mean for the junior mining companies? Well, the answer is “A Lot!” In Part II of this article I will be making the investment case for junior mining companies which could stun even the most staunch gold bull out there. Fiction or real possibilities? Well, read on and judge yourself.

 

Taken from;

 

Juniors Poised for Historic Bull Run By: Eric Hommelberg

 

 

[fitkid]

Noticed a cool chart in an article I was reading today, the relative gold chart shows we are far from overbought in gold currently.

 

 

 

Taken from;

 

Juniors Poised for Historic Bull Run By: Eric Hommelberg

 

Pixel8r posting quality info as usual thanks.Ignore the distractors they are just not ready to be truly 'illuminated' at least not yet.

[Pixel8r]

Ted Butler reporting on the position limits the CFTC has been thinking of imposing.

 

The Bomb Squad

By: Theodore Butler

 

(This article was sent to subscribers of www.butlerresearch.com on Oct 22, 2009)

 

In a speech yesterday, CFTC Commissioner Bart Chilton outlined his thinking on the all-important showdown coming on the issue of position limits and hedge exemptions to those limits. In a related interview he reaffirmed the timeline of the showdown, said by him to be by late November. He expressed a fear that the Commission might set position limits too low and this might cause big traders to migrate away from regulated exchanges. This is a recurring, if ill-founded fear. In the interview (by Dow Jones), the CME Group added that it was “dismayed” that statements from the CFTC are, “already driving liquidity away.” (If there is one thing I think I know, it is that whenever a commodity exchange is dismayed, it is when the public’s interest is about to be served.) Here’s the actual speech.

 

Contrast Commissioner Chilton’s remarks to a speech made by Chairman Gary Gensler to the Futures Industry Association on the same day. Chairman Gensler doesn’t seem particularly afraid of trading moving overseas and for good reason – it isn’t going to happen. He has much experience on Wall Street, being made a partner of Goldman Sachs at age 30. Many would hold that against him, but in my experience, such an achievement is not bestowed without legitimacy. In this speech, his words are clear and convincing, as usual. Chairman Gensler speaks of his deep concern for the American public and how we were harmed by the financial crisis. As an architect of the deregulation that created the problems we face today, he knows he will be judged by his resolve to bring about much needed reform to the commodity markets. He has admitted that deregulation went too far, and appears sincere when he says he has learned from the experience. While I’m allowed to be wrong, I believe he means what he says.

 

more.....

 

 

[alexreeve]

Ted Butler reporting on the position limits the CFTC has been thinking of imposing.

 

The Bomb Squad

By: Theodore Butler

What planet is Ted Butler on? He thinks Gensler is going to break the Comex corruption

From the article:

Chairman Gensler doesn’t seem particularly afraid of trading moving overseas and for good reason – it isn’t going to happen. He has much experience on Wall Street, being made a partner of Goldman Sachs at age 30. Many would hold that against him

[InSilverWeTrust]

What planet is Ted Butler on? He thinks Gensler is going to break the Comex corruption

From the article:

 

I actually hope the corruption continues until Gold is over $2000!

 

Then the Moon may well be in range for Silver

[med]

Anybody ever subscribed to "The Gold Report, by Tom O'Brien" of www.tfnn.com?

 

Was wondering he has had any decent tips for junior minors and is worthwhile.

[Pixel8r]

Sri Lanka c.bank buying gold to diversify reserves

 

NEW DELHI, Nov 5 (Reuters) - Sri Lanka's central bank has been buying gold for the past five or six months as it diversifies its reserves amid volatile markets, the bank's governor said in an interview on Thursday.

 

'We have been fairly strong accumulators of gold reserves over the past few months,' Sri Lanka Central Bank Governor Ajith Nivard Cabraal told Reuters in a telephone interview from the southern Indian city of Chennai.

 

'We haven't stopped yet,' he added, declining to quantify how much gold the central bank had bought or how much of the more than $4.8 billion of the country's reserves were in gold.

 

'Many countries are today diversifying. They are also looking at intrinsic value of their reserves, so gold would be a natural candidate for that kind of reserve accumulation,' he said

 

 

[fitkid]

Gold: $1 100 still in sight

 

2009/11/05 08:03:00 AM

 

Nov 05 2009 22:45

Tokyo -

 

 

Spot gold inched lower on Thursday but remained within striking distance of the $1 100 level after hitting an all-time high for the second straight session on a weak dollar the previous day.

 

News this week of India's purchase of 200 tonnes of gold from the International Monetary Fund has also provided gold with upward momentum to rise back towards $1 100.

 

The IMF's transaction represents about half of a long-planned bullion sale, which now has the gold industry wondering who will be buying the remainder that is due to be sold.

 

The dollar remains under pressure after falling on Wednesday after the US Federal Reserve reiterated its commitment to keep interest rates low for an "extended period".

 

Akira Doi, a managing director at Tokyo's Daiichi Commodities, said gold could fall on profit-taking this month after it eventually hits $1 100.

 

"Funds close their books in November, and one should keep in mind they may decide to pocket profits and sell this month," he said.

 

Noncommercial net long positions in US gold futures remained near a record.

 

He added, however, that gold was likely to remain above $1 000 even if it is hit by profit-taking, noting that India's purchase from the IMF was made near an average of $1 045 an ounce.

 

"I think that fact will have a psychological impact on the market ... there is no longer any surprise in seeing a four-figure price for gold," Doi said.Bullion also remains attractive as an alternative investment.

 

"There is also the persistent worry about the economy to support gold," said Shuji Sugata, a manager at Mitsubishi Corp Futures.

 

Spot gold was at $1 088.45 an ounce at 03:15 GMT, down 0.4% from New York's notional close of $1 092.35. It rose to an all-time high of $1 097.25 on Wednesday.

 

US gold futures for December delivery were at $1 089.20 an ounce, up 0.2%.

 

Futures hit a record $1 098.50 on Wednesday.

 

The world's largest gold-backed exchange-traded fund, SPDR Gold Trust, said its holdings stood at 1 108.399 tonnes as of November 4, unchanged from the previous business day.

 

The world's largest silver-backed exchange-traded fund, the iShares Silver Trust, said its bullion holdings stood at 8 740.15 tonnes as of November 4, down 3.85 tonnes or 0.04% from the previous business day.

 

Yamana Gold's chief executive expects gold prices to keep breaking records over the next year, but at the same time acknowledges that rising energy prices and a recovering economy could drive mining costs higher.

 

Other precious metals were also a touch lower.

 

Spot silver was at $17.33 an ounce compared with $17.44 in New York.

 

Spot platinum was at $1 353 an ounce, down from $1 364, while sister metal palladium was at $326 versus $327.

 

Both metals are used as an auto catalyst to clean car exhaust fumes.

 

- Reuters

[Pixel8r]

Chinese gold cheaper than IMF's - ex-PBOC adviser

 

BEIJING (Reuters) - It would be cheaper for China to buy domestically mined gold than purchase bullion the International Monetary Fund is seeking to sell, a former adviser to the People's Bank of China said on Thursday.

 

Asked whether China should emulate India, which last month bought 200 tonnes of IMF gold at an average price of $1,045 an ounce, Li Yang told reporters on the sidelines of a financial forum: "China's gold is much cheaper than that."

 

Li, who used to be a member of the PBOC's monetary policy committee, is now a senior researcher at the Chinese Academy of Social Sciences.

 

China, the world's top producer and consumer of gold, is widely assumed to still be buying up domestic gold production after revealing in April that it held 1,054 tonnes of gold, a jump of 76 percent from its last word on the subject six years previously.

 

And its colossal buying power -- $2.27 trillion in foreign exchange reserves at the end of September -- makes matching India's $6.7 billion IMF purchase look trifling.

 

Many market watchers see China buying IMF gold as likely, if not inevitable, because of its desire to diversify its financial reserves away from U.S. dollars.

 

That was an important consideration, said a senior central bank official, although one with no direct authority over gold buying.

 

"China is the world's biggest gold producer, so there's no urgency for us, as there is for India, to snap up big volumes whenever they come onto the global market. It's cheaper for us to buy gold from the Chinese market, but it doesn't help diversify our huge foreign exchange reserves," said the official, who declined to be identified. Continued...

 

 

[Pixel8r]

Will India start a central bank bidding war?

 

India Shows Hedge-Fund Savvy With Huge Gold Buy: William Pesek

 

Commentary by William Pesek

 

Nov. 5 (Bloomberg) -- Barack Obama and Timothy Geithner must be as annoyed as they are bewildered.

 

Didn’t India get the memo? Developing nations are supposed to keep their excess cash in Treasuries, the U.S. president and his Treasury secretary are no doubt thinking. Gold? That relic of the past that doesn’t pay interest or dividends and can’t be eaten? A fool’s game best left to the dinosaurs out there.

 

India is going its own way with a $6.7 billion gold purchase. The transaction turned heads in markets. It should do the same in capitals from Beijing to Washington.

 

India’s 200 metric-ton deal wasn’t huge considering how much gold central banks hold. It’s the symbolism that matters as the U.S. struggles to keep the dollar’s slide orderly and panic- free. Consider India the vanguard of central banks more aggressively diversifying reserves away from U.S. assets.

 

As markets brace for that inevitability, here are four things we can conclude from India’s gold rush.

 

One, the dollar’s plight just got worse. Mounting U.S. debt is bumping up against a dismal employment picture, a toxic mix that may get the attention of credit-rating companies. This U.S. recovery looks to be a uniquely jobless one, complicating things for a president already grappling with two unpopular wars.

 

Dollar Woes

 

That raises the specter of even more stimulus spending, more bond issuance and more pressure on central banks to avoid a dollar crash. It’s well-known that Geithner is relying on Asia to continue loading up on Treasuries. Even U.S. Secretary of State Hillary Clinton found herself talking up the bond market in Beijing earlier this year.

 

Yes, talk of the dollar’s death is overdone. There is still no obvious replacement. Yet Asia’s tolerance with falling U.S. assets is evaporating. India’s gold grab from the International Monetary Fund’s bullion stash is the latest reminder of that.

 

Two, India’s got game. China doesn’t talk much about its currency reserves, yet you have to imagine a few top officials in Beijing are red-faced this week. “How on Earth did India beat us to the punch?” policy makers must be asking. China seemed the overwhelming favorite to get the first chunk of the gold the IMF is offloading to shore up its finances.

 

A question no one can answer yet is whether India will touch off a bidding war among central banks. Not that India cares all that much at this point. As it leapfrogs past Russia to become the ninth-biggest government holder of gold, China is now looking at even higher precious-metals prices.

 

more...

[electroweak]

Comex inventories down again... now at 2,082,949 Oz. Plot not updated yet....

[romans holiday]

Did you read this article properly RH? He's warning not to pile in now if you haven't got any/missed out. Have you read any of his other articles? I'd say you've totally got the wrong end of the stick in your call on Steve Thomson's strategy and approach. The guy is pro-gold but very cautious in how he trades. Take another look - you can check out plenty of his stuff at 321gold and his website.

Actually, I just scanned it... so many articles, so little time. Looking at it again, he definitely has got a nuanced approach of sorts in so far as he distinguishes trading from investing and when to buy:

 

9. So the tactics for traders and investors are the same. Wait. Don't join all the idiots madly buying this price strength. If you failed to buy at 680, 905, and other key lows, don't buy now. Now you say, "Stewart, I'm a human being, I just gotta get in on this. I'm like a drug addict looking at this strength, I can't sit here and watch, I need a fix!" Well, slow down and think about this: Gold's move now, will lead many other gold-related items higher very soon. Gold's blood relatives, so to speak. Some of these items are trading at rock bottom low prices. Even within the gold sector, vast numbers of gold stocks themselves are trading at low prices, but less and less so. Focus on what is low, not on what is high, on the buy side.

 

Here is one of the basic principles of investment; don't buy into strength, yet I wonder if it is simple as that. Shouldn't we first be asking ourselves; how much gold do I own.? How much should I own? And how much am I comfortable with owning? Concrete circumstances often trump abstract principles and I'd say that if you didn't own any gold, or only a little, you should be buying some [building a position] irrespective of the price [who knows it could possible go higher]. That said, I'd also say if you owned 100% gold, you could sell a little, not to trade, but to build a cash hedge against possible lower prices. If you are comfortable with the amount you own, you wouldn'y buy, and certainly wouldn't sell. If the intended audience is goldbugs maybe I am knit-picking here.

 

19. The government knows what is coming. All they can do is beat down on the general commodity markets periodically with new regulations, to direct terrified investor money into the stock market and deny the semi-hyperinflation exists. In the beginning, the stupid public will believe the govt that the stock market rise indicates the banksters saved them, and their botox filled bank and brokerage accounts are saved.

 

20. But the banksters will work diligently to convince the public to be patient, to continue to save money, to buy bonds. The public won't want to chase the stock market, throwing good money after bad.

 

Perhaps it is fair to say the article, written in gold-bug language, urges restraint on gold-bugs. Fair enough, but I still think we have a gold bug here, albeit flying a little lower and and more constrained. We see the same dubious hyper-inflationary themes. Just my 2 cents worth.

 

 

I wouldn't trade gold..... silver is much better for this as is more volatile, and even then would only sell [for both gold and cash] and buy it on the really big and infrequent moves.

[romans holiday]

With this guy you just have to understand his verbal style. He is prone to hyperbole but once you know that and understand that he uses that to comic effect you get the picture. He most certainly does not think gold will go up in a straight line and says as much.

Yes, he does seem to be discounting an imminent parabolic move.

 

But the alternative to the parabola is a side-ways movement in gold where it will slowly strengthen against currencies and track at a low angle upwards. There is a "risk" that gold will not be so volatile [as say silver] to the down-side as it was in the past pre-QE era. In this scenario, it would be risky for the underinvested investor to wait for lower prices... though it might pay off.

 

Do you really think Queen Gold is going to Pluto while leaving her family behind? Can you really picture gold at $2000, $3000, $5000, even $10,000, while natural gas sits where it is now? Corn? And I'm not even going to mention rare earths because you need to look out several galaxies to get a handle on how high those could go as the gold starship passes Pluto, driven by Dr. Bernanke's printing press in warp drive

 

Of course, if he really thinks currencies as so vulnerable to hyper-inflation, doesn't it just make sense to get "all out" of fiat into hard assets then sit back and wait for the..... rapture? Though I can see why he continues to trade as he sees this event playing out in the future. Still, in this "worldview", there is quite a bit of risk hanging over currencies and I can understand why the bugs want to be "all in".

[Pixel8r]

Interesting post on JSMineset about the reasons Barrick and Ashanti are covering their long standing hedges now while the price is high.

 

Dear Jim,

 

How do the majors seem to survive covering short of gold derivatives without going broke?

 

Why did they wait so long?

 

CIGA Arlen

 

Dear Arlen,

 

Have you not seen that each of the majors experiencing this do two things:

 

1. They sell everything they have that is not in full production.

 

2. They float major bond deals to fill the hole caused by the losses taken.

 

As to why they wait so long, it is my opinion they would not even now have covered except for a hidden margin call feature of the short of gold OTC derivative. A clause in the arrangement focuses on the bond rating and balance sheet condition of the hedger. The loss on the hedge is calculated against the company’s assets and liabilities. If the balance sheet is challenged to the limit it triggers an obligation to pay up or close the commitment. Many of the reductions and closing of hedge books has not been as much a decision as it is a contract requirement.

 

Regards,

 

Jim

[Mr Pipples]

Actually, I just scanned it... so many articles, so little time. Looking at it again, he definitely has got a nuanced approach of sorts in so far as he distinguishes trading from investing and when to buy:

 

 

 

Here is one of the basic principles of investment; don't buy into strength, yet I wonder if it is simple as that. Shouldn't we first be asking ourselves; how much gold do I own.? How much should I own? And how much am I comfortable with owning? Concrete circumstances often trump abstract principles and I'd say that if you didn't own any gold, or only a little, you should be buying some [building a position] irrespective of the price [who knows it could possible go higher]. That said, I'd also say if you owned 100% gold, you could sell a little, not to trade, but to build a cash hedge against possible lower prices. If you are comfortable with the amount you own, you wouldn'y buy, and certainly wouldn't sell. If the intended audience is goldbugs maybe I am knit-picking here.

 

 

 

Perhaps it is fair to say the article, written in gold-bug language, urges restraint on gold-bugs. Fair enough, but I still think we have a gold bug here, albeit flying a little lower and and more constrained. We see the same dubious hyper-inflationary themes. Just my 2 cents worth.

 

 

I wouldn't trade gold..... silver is much better for this as is more volatile, and even then would only sell [for both gold and cash] and buy it on the really big and infrequent moves.

 

And it's clear from the rest of your post that you didn't look further than this article (at his website, pyramid trading strategy, etc. http://www.gracelandupdates.com) yet you still feel it makes sense to judge, criticize and harp on 'knowledgeably'. Maybe you're right to disregard so off-handedly though, Stewart Thomson is only a retired Merrill Lynch broker after all.

 

 

[alexreeve]

This article compiles a lot of rumours and speculations about shortages and dislocations in the physical Gold market. Worth a read but much of it (eg the Kirby story) has been posted before. The JB Slear stuff is new, and a few other bits and pieces

 

http://www.marketskeptics.com/2009/10/gold...king-point.html

 

Guiding investors through the delivery process are gold and silver brokers like JB Slear who specialize in helping high net worth clients take delivery of gold and silver futures contracts. These advisors are necessary because, as investors are discovering, that there is trouble at Comex warehouses...

 

With the difficulties and irregularities in the COMEX delivery process, many, including gold brokers like JB Slear, have doubts as to whether there is gold in inventory to match existing warehouse receipts.

 

Like others involved in the gold market, Slear believes that there are real shortages of precious metals that have yet to be exposed. But he recognises the futures market as a last resort for people who can’t buy metals at reasonable prices elsewhere: "If a buyer wants to buy a physical product and cannot find it locally, he or she can go to my firm’s web address to transact that business. My business model is a last resort purchase arena for those who need to protect their personal wealth."

 

He says there is anecdotal evidence that this activity is widespread enough to be affecting warehouse stocks as high net worth clients remove metal from warehouses.

 

But, he [JB Slear] says that the activity has yet to show up on Comex warehouse stock data: "I find it interesting that the Comex numbers don’t show any movement at all as far as deliveries are concerned. I have spoken to three of the warehouses and each facility confirms the fact that the metals are being moved out, and in size. One of my clients says that when she went to "will call" her purchase, that the "will call" staging area for deliveries was stacked high and busy. Seems curious that the warehouse numbers reported through Comex, are not showing any reductions. In the Comex defence though, I don’t know how long it takes them to account for the movements. I just keep my head down and focus on the job allotted me. That is to get the gold into my clients’ hands as fast as possible.

[romans holiday]

And it's clear from the rest of your post that you didn't look further than this article (at his website, pyramid trading strategy, etc. http://www.gracelandupdates.com) yet you still feel it makes sense to judge, criticize and harp on 'knowledgeably'. Maybe you're right to disregard so off-handedly though, Stewart Thomson is only a retired Merrill Lynch broker after all.

Just my 2 cents worth. That's the idea of a forum such as this isn't it... to voice our opinions and perspectives, rather than think alike, no?

 

As for my post, I think I gave some clear reasons for why my opinion differs to S.T.

 

No-one has any certainty or iron-clad knowledge, therefore surely we are better off with a diversity of opinions and perspectives.... and then make our own decisions, given our own circumstances, from there.

[aliveandkicking]

Just my 2 cents worth. That's the idea of a forum such as this isn't it... to voice our opinions and perspectives, rather than think alike, no?

 

As for my post, I think I gave clear reasons for why my opinion differs to S.T.

 

RH

 

The idea surely is to attempt to see the other persons point of view as if you were sitting where they sit rather than dominate by force of personality?

[Mr Pipples]

Just my 2 cents worth. That's the idea of a forum such as this isn't it... to voice our opinions and perspectives, rather than think alike, no?

 

Yes - but in what regard do you want your opinion to be held? You certainly like to share your opinions throughout this forum - why?

 

As for my post, I think I gave clear reasons for why my opinion differs to S.T.

 

My point is a lot of your opinion doesn't differ, as you describe, from ST's - and you'd realize that if you actually chose to take a look at, what you feel obliged to judge over, with a reasonable effort. 

 

I thought you might appreciate ST's approach - particularly pyramiding buys and sells and the reasons why that likely makes sense in this investing/trading environment.