Pixel8r Posted November 27, 2009 Report Share Posted November 27, 2009 Link to comment Share on other sites More sharing options...
romans holiday Posted November 27, 2009 Report Share Posted November 27, 2009 Good Luck with that pullback romans you still holding on. Yep, keeping some serious powder dry here. The Dubai debt crisis has made the market nervous... wouldn't take much more to get the risk averse trade under way. Starting to raise dollars today, Yen are getting a bit pricey now. Silver is back to where it was six months ago as priced in Yen. Link to comment Share on other sites More sharing options...
romans holiday Posted November 27, 2009 Report Share Posted November 27, 2009 I never could work out this "buying on the pullbacks" thing that people seem to talk about. What if the next pullback is to $1300? Errr... wouldn't that be a pushup? Link to comment Share on other sites More sharing options...
Fortune Posted November 27, 2009 Report Share Posted November 27, 2009 For anyone that is interested the piece on Gold was on the One Show last night between 04.18 - 07.14 mins http://www.bbc.co.uk/iplayer/episode/b00p3...how_25_11_2009/ Adrian Ash from BullionVault interviewed Lou Could some youtube this or upload to rapidshare? I'm not in the UK and I can't be bothered to muck around with proxy servers. Much obliged to the techies out there. Link to comment Share on other sites More sharing options...
drbubb Posted November 27, 2009 Report Share Posted November 27, 2009 Is today the day they will "ambush" Gold, after London trading closes? If you have a stop at $1180, or even $1165, you may see it tested today Gold now: $1,172. Some bulls here may find themselves "Clawing the sky" I do have some puts on Gold stocks, and lightened up on my GLD call spread in recent days. But I cannot really claim to be short Gold. The fall could be sharp and scary, as I said yesterday. Link to comment Share on other sites More sharing options...
romans holiday Posted November 27, 2009 Report Share Posted November 27, 2009 Gold now: $1,172. Some bulls here may find themselves "Clawing the sky" I do have some puts on Gold stocks, and lightened up on my GLD call spread in recent days. But I cannot really claim to be short Gold. The fall could be sharp and scary, as I said yesterday. Gold 1,168 Aussie down under 90... Oil down. Yen on steroids. Could get interesting. Link to comment Share on other sites More sharing options...
drbubb Posted November 27, 2009 Report Share Posted November 27, 2009 Gold 1,168 Aussie down under 90... Oil down. Yen on steroids. Could get interesting. Welcome to Prechter's Primary Wave 3 down ! - and the world laughed. haha Link to comment Share on other sites More sharing options...
warpig Posted November 27, 2009 Report Share Posted November 27, 2009 WOW what happened? Down £22/t oz and $46/t oz in a heart beat... I don't think I've ever seen such a dramatic drop before. Link to comment Share on other sites More sharing options...
Perishabull Posted November 27, 2009 Report Share Posted November 27, 2009 Welcome to Prechter's Primary Wave 3 down ! - and the world laughed. haha The action in the dollar over the last 24 hrs is exactly what he was looking for, a spike down to 74.5 followed by a sharp rally. I thought a catalyst was need - it looks like Dubai the city of gold may have provided it. Link to comment Share on other sites More sharing options...
romans holiday Posted November 27, 2009 Report Share Posted November 27, 2009 The action in the dollar over the last 24 hrs is exactly what he was looking for, a spike to 74.5 followed by a sharp rally. I thought a catalyst was need - it looks like Dubai the city of gold may have provided it. The Dubai event was the catalyst I needed to finally go long dollars. Bought this morning. Will be interesting to see if this is a market changer. Link to comment Share on other sites More sharing options...
El Dali Posted November 27, 2009 Report Share Posted November 27, 2009 The Dubai event was the catalyst I needed to finally go long dollars. Bought this morning. Will be interesting to see if this is a market changer. Mind me asking what price you bought at Romans? Was it dollar index you bought? Link to comment Share on other sites More sharing options...
carbon junkie Posted November 27, 2009 Report Share Posted November 27, 2009 Gold now: $1,172. Some bulls here may find themselves "Clawing the sky" I do have some puts on Gold stocks, and lightened up on my GLD call spread in recent days. But I cannot really claim to be short Gold. The fall could be sharp and scary, as I said yesterday. Gold now $1146. STILL HIGHER THAN THE START OF LAST WEEK!! Hardly a reason to be clawing the sky. Move along nothing to see here!!! Wake me up when something out of the ordinary happens. Link to comment Share on other sites More sharing options...
romans holiday Posted November 27, 2009 Report Share Posted November 27, 2009 Mind me asking what price you bought at Romans? Was it dollar index you bought? Bought dollars with Asian currencies which had been appreciating against the dollar. Holding in reserve for bargain basement priced silver. It is more a hedge than a trade, so even if this is not the 180 reversal many are looking for will hold when/ if that reversal comes. Seems to me there are just too many unpredictable macro pressures on the market to be zero cash. I like to be in the zone... the comfort zone.. come what may. Link to comment Share on other sites More sharing options...
markinspain Posted November 27, 2009 Report Share Posted November 27, 2009 WOW what happened? Down £22/t oz and $46/t oz in a heart beat... I don't think I've ever seen such a dramatic drop before. I think it's what's known as a 'shake out' ie pressurising the weak holders. Unfortnately, although this tactic works with shares and paper gold, it doesn't work well with physical holders. I can't see many people running down to their dealers today to sell their physical holdings. Link to comment Share on other sites More sharing options...
drbubb Posted November 27, 2009 Report Share Posted November 27, 2009 Gold now $1146. STILL HIGHER THAN THE START OF LAST WEEK!! Hardly a reason to be clawing the sky. Move along nothing to see here!!! Wake me up when something out of the ordinary happens. First round of stops hit. I am slightly surprised, since I though they might wait for the quiet time this afternoon in NY. But the sharp rally in the Dollar speeded up the timeframe Link to comment Share on other sites More sharing options...
drbubb Posted November 27, 2009 Report Share Posted November 27, 2009 I think it's what's known as a 'shake out' ie pressurising the weak holders. Unfortnately, although this tactic works with shares and paper gold, it doesn't work well with physical holders. I can't see many people running down to their dealers today to sell their physical holdings. Dont kid yourself. Most of the Hedgies are in this for a quick buck, not the long term. The "long term story", is how they distribute their positions to retail. I would guess that 50% or more of the futures holders are short-term oriented. Remember last year !! Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted November 27, 2009 Report Share Posted November 27, 2009 the weak holders wont be clawing the sky they will be phoning Jim Sinclair the ones that understand the cycles will be buying more Link to comment Share on other sites More sharing options...
carbon junkie Posted November 27, 2009 Report Share Posted November 27, 2009 the weak holders wont be clawing the sky they will be phoning Jim Sinclair the ones that understand the cycles will be buying more buying and holding (for the long term) on the dips - happy days. No clawing the ceilings more like an early christmas present. I am dissapointed it hasn't fallen further up or down in the short term is of little consequence it's just noise. Link to comment Share on other sites More sharing options...
Perishabull Posted November 27, 2009 Report Share Posted November 27, 2009 Dont kid yourself. Most of the Hedgies are in this for a quick buck, not the long term. The "long term story", is how they distribute their positions to retail. I would guess that 50% or more of the futures holders are short-term oriented. Remember last year !! Exacto, they aren't afraid of getting short either Link to comment Share on other sites More sharing options...
grumpy-old-man Posted November 27, 2009 Report Share Posted November 27, 2009 the weak holders wont be clawing the sky they will be phoning Jim Sinclair the ones that understand the cycles will be buying more yep. I am not worried one bit. Link to comment Share on other sites More sharing options...
Bosworth Posted November 27, 2009 Report Share Posted November 27, 2009 ...and with sterling falling fast as well, the overall impact on my holdings is pretty minimal at the moment. Might change if things continue this way but I for one, as a Brit, am still very happy holding gold... Link to comment Share on other sites More sharing options...
G0ldfinger Posted November 27, 2009 Author Report Share Posted November 27, 2009 I am not worried one bit. I'd be more worried if I held any fiat currency, especially Dollars or Pounds. Being in gold and silver gives me perfect peace of mind, no matter how many little precious dollars Bernanke churns out. The short term dips people with no fundamental knowledge of the gold market cause are nice entry points in an accumulation strategy. Link to comment Share on other sites More sharing options...
aardvark Posted November 27, 2009 Report Share Posted November 27, 2009 ...and with sterling falling fast as well, the overall impact on my holdings is pretty minimal at the moment. Might change if things continue this way but I for one, as a Brit, am still very happy holding gold... exactly - gold vs sterling, its a no brainer rally. there was a time when a $50 drop would have got me really worried but now, its no big deal - a drop to $1150 whoopee doo, doesn't matter. Link to comment Share on other sites More sharing options...
markinspain Posted November 27, 2009 Report Share Posted November 27, 2009 Dont kid yourself. Most of the Hedgies are in this for a quick buck, not the long term. The "long term story", is how they distribute their positions to retail. I would guess that 50% or more of the futures holders are short-term oriented. Remember last year !! Why would I kid myself? I couldn't give a monkey's chuff what the hedgies do. I ain't selling mine! It's great having something with no counterparty risk. You keep playing with your fiat and electronic digits. Link to comment Share on other sites More sharing options...
signofthetimes Posted November 27, 2009 Report Share Posted November 27, 2009 You keep playing with your fiat and electronic digits. best euphemism for cock and balls I've ever seen Link to comment Share on other sites More sharing options...
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