Steve Netwriter Posted June 10, 2008 Report Share Posted June 10, 2008 Need I say more ? Link to comment Share on other sites More sharing options...
Pluto Posted June 10, 2008 Report Share Posted June 10, 2008 BDEV getting close to 100 Pluto will be buying it soon has he eloped with RB I have been traveling the last month and will be in Europe until the end of August, so my time for posting has been limited. As for BDEV.L, anyone who has read any of my ramblings will know I was short this mega-turd and still am. I don't intend to cover unless there is talk of them being delisted, which is a very real possibility. I see inflation is rampant, and central bankers seem quite content in staving half the world to death. However the world's real superpower (according to Chomsky) is about to unleash its fury. This superpower is the opinion and force of the masses. We are entering a new phase. Remember the only bullion is the stuff you can touch all else is a promise to deliver. Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted June 10, 2008 Report Share Posted June 10, 2008 I have been traveling the last month and will be in Europe until the end of August, so my time for posting has been limited. As for BDEV.L, anyone who has read any of my ramblings will know I was short this mega-turd and still am. I don't intend to cover unless there is talk of them being delisted, which is a very real possibility. I see inflation is rampant, and central bankers seem quite content in staving half the world to death. However the world's real superpower (according to Chomsky) is about to unleash its fury. This superpower is the opinion and force of the masses. We are entering a new phase. Remember the only bullion is the stuff you can touch all else is a promise to deliver. i know i remember i think you said you may start covering when it reached 100 though - this was when it was closer to 1000 though Link to comment Share on other sites More sharing options...
Bobsta Posted June 10, 2008 Report Share Posted June 10, 2008 So... we were all (well, mostly) very bullish on Friday. This week has been a disappointment so far. USD has rallied. GBP has rallied even more on the "woah inflation! Higher IRs on the way then" view. G&S both performing poorly Are folks still as bullish? Does this latest action just further strngthen the position, or is the much-talked-about "sideways summer" looking more likely. In particular I'm interested in your view, Marceau - always a good barometer, I find. Link to comment Share on other sites More sharing options...
electroweak Posted June 10, 2008 Report Share Posted June 10, 2008 So... we were all (well, mostly) very bullish on Friday. This week has been a disappointment so far. USD has rallied. GBP has rallied even more on the "woah inflation! Higher IRs on the way then" view. G&S both performing poorly Are folks still as bullish? Does this latest action just further strngthen the position, or is the much-talked-about "sideways summer" looking more likely. In particular I'm interested in your view, Marceau - always a good barometer, I find. IMO it's all bluff. They know DAMN WELL that if they increase IRs, they will just kill the housing market, and the consumer miracle economies of the UK and US will not be talking about recession, but depression. They know this, but they can't say it , can they? I thought last time Bernanke mentioned IR rises and had his bluff called in Spain that the markets would just see through it, but they are trying hard to make the case for increased IRs. I simply don't think they have the room to do it. Link to comment Share on other sites More sharing options...
alexreeve Posted June 10, 2008 Report Share Posted June 10, 2008 IMO it's all bluff. They know DAMN WELL that if they increase IRs, they will just kill the housing market, and the consumer miracle economies of the UK and US will not be talking about recession, but depression. They know this, but they can't say it , can they? I thought last time Bernanke mentioned IR rises and had his bluff called in Spain that the markets would just see through it, but they are trying hard to make the case for increased IRs. I simply don't think they have the room to do it. Fed is committed to managing inflation expectations rather than inflation. Bernanke is just talking the talk. Link to comment Share on other sites More sharing options...
drminky Posted June 10, 2008 Report Share Posted June 10, 2008 Fed is committed to managing inflation expectations rather than inflation. Bernanke is just talking the talk. Exactly. They are playing bluff. And even if they DID raise interest rates by .25% there'd be a massive selloff in gold, and i'd be buying with both fists. How quickly people forget that in the 1970s, gold rose most whilst interest rates were going UP! There is no way in hell the wall street controlled fed are about to kill themselves by hiking interest rates to above REAL inflation Volcker-style. Interest rate hikes, if and when they come, will lag and lag tearaway inflation for years yet.. The Fed care not for the pain of the american consumer. All they care about is saving themselves.. the rest is 'managing inflationary expectations'.. Link to comment Share on other sites More sharing options...
G0ldfinger Posted June 10, 2008 Author Report Share Posted June 10, 2008 IMO it's all bluff. ... I agree with everything said above. Nothing will happen apart from nice talk about inflation expectations. NOTE: Inflation is irrelevant for the Fed, all they look into is inflation EXPECTATIONS. These idiots will wake up and realize that you can not just print oceans of Greenbacks and keep inflation EXPECTATIONS in check. Central bankers ``will strongly resist an erosion of longer- term inflation expectations,'' Bernanke said yesterday at the Boston Fed's annual economic conference in Chatham, Massachusetts. Any public anticipation of accelerating price gains ``would be destabilizing for growth,'' he said. http://www.bloomberg.com/apps/news?pid=206...&refer=home Link to comment Share on other sites More sharing options...
woody Posted June 10, 2008 Report Share Posted June 10, 2008 So... we were all (well, mostly) very bullish on Friday. This week has been a disappointment so far. USD has rallied. GBP has rallied even more on the "woah inflation! Higher IRs on the way then" view. G&S both performing poorly Are folks still as bullish? Does this latest action just further strngthen the position, or is the much-talked-about "sideways summer" looking more likely. In particular I'm interested in your view, Marceau - always a good barometer, I find. I'm disappointed as I really thought we'd have more of a run than that after Friday. The fundamentals remain really positive but we seem to have a market with no clear view of what the future holds and which is being wildy thrown around by rhetoric. I'm stunned at how the 'talk' about higher US interest rates is having such an effect and nobody is questioning how it differs to events. That said, I do wonder to what extent the news hungry market is being assisted by the threatened G8 intervention in hammering gold and bolstering the dollar on the back of this talk. Link to comment Share on other sites More sharing options...
marceau Posted June 10, 2008 Report Share Posted June 10, 2008 So... we were all (well, mostly) very bullish on Friday. This week has been a disappointment so far. USD has rallied. GBP has rallied even more on the "woah inflation! Higher IRs on the way then" view. G&S both performing poorly Are folks still as bullish? Does this latest action just further strngthen the position, or is the much-talked-about "sideways summer" looking more likely. In particular I'm interested in your view, Marceau - always a good barometer, I find. I'm not too disappointed with the way PMs have fallen back, in fact I'm very pleased as it has allowed me to pretty much complete my core purchases at lower levels. I think we're currently sat in one last period of mild despair before a swift rise towards a battle ground in the mid $900s. Although I don't think we'll get back over $1000 without a few selloffs along the way, I do believe we'll soon have seen the back of sub $900 prices. I also believe the summer will be a period of steady rises, but not headline making price peaks. To my mind this is a very good time to be in the market, so I'm going to be buying the NY dips over the next few weeks with a view to building a speculative position during this relatively quiet period. Give it a couple of months and we'll have ground our way back toawrds the old highs and it is my intention to have accumulated some large positions by that point, ready for the 'headline' phase where gold surges past the old highs and the uneducated herd piles back in, creating big price moves. As others have said talk of rate rises are pure bluff and it is surprising the market can still be suckered by such posturing. I don't see this situation lasting much longer, something has changed in wider sentiment, we've reached a point where the bluff is going to be called. The hope of a quick end to the crisis was pretty much killed stone dead on Friday and that also killed the one thing supporting the dollar and the DOW, which was the market's fear of missing the start of a new bull run. Now that prospect is gone, we're going to start seeing some serious selling in these areas and the money will drift towards the only profitable game left - commodities. Link to comment Share on other sites More sharing options...
Benall Posted June 10, 2008 Report Share Posted June 10, 2008 Need I say more ? Er no, my thoughts exactly. Love them triangles. Been working very well of late across a number of securities. Link to comment Share on other sites More sharing options...
ologhai Posted June 10, 2008 Report Share Posted June 10, 2008 Need I say more ? As I mentioned a few days ago, the upper and lower Bollinger bands on my charts for both gold and silver are closing, and look poised to spring! The only concern is, which way? Link to comment Share on other sites More sharing options...
marceau Posted June 10, 2008 Report Share Posted June 10, 2008 Gold just took another smackdown to the $870s. Can't say I was expecting it but someone on another board listed all of the US cartel posterboys speaking today. Bernanke, Paulson, even the chief chimp Bush himself, so I guess the cartel came in fully tooled up today. I'm buying here at $875. Link to comment Share on other sites More sharing options...
Gatesy Posted June 10, 2008 Report Share Posted June 10, 2008 I'm buying here at $875. Ditto Link to comment Share on other sites More sharing options...
tinecu Posted June 10, 2008 Report Share Posted June 10, 2008 So... we were all (well, mostly) very bullish on Friday. This week has been a disappointment so far. USD has rallied. GBP has rallied even more on the "woah inflation! Higher IRs on the way then" view. G&S both performing poorly Are folks still as bullish? Does this latest action just further strngthen the position, or is the much-talked-about "sideways summer" looking more likely. In particular I'm interested in your view, Marceau - always a good barometer, I find. Just got back from two weeks holiday....seems that the sideways summer is happening...action in August? Good buying op for those that still need to buy in though. How about that oil price though...blimey gov! Link to comment Share on other sites More sharing options...
Pluto Posted June 10, 2008 Report Share Posted June 10, 2008 i know i remember i think you said you may start covering when it reached 100 though - this was when it was closer to 1000 though I covered at 90p . What a ride down. I wanted to get out before the stock got suspended and then delisted. Lots of chatter about suspension. RIP Barretts. You are not alone - many other builders and banks will be joining you in the abyss. Link to comment Share on other sites More sharing options...
marceau Posted June 10, 2008 Report Share Posted June 10, 2008 I covered at 90p . What a ride down. I wanted to get out before the stock got suspended and then delisted. Lots of chatter about suspension. RIP Barretts. You are not alone - many other builders and banks will be joining you in the abyss. Great work Pluto, holding all the way down must have taken balls of steel. I think you're right about the possibility of delisting, why would anyone in their right mind want to buy this dog now? I can't see BDEV escaping its fate, it just amazes me that it has taken this long for the market to admit the shocking truth about this company's future. Link to comment Share on other sites More sharing options...
electroweak Posted June 10, 2008 Report Share Posted June 10, 2008 Phew, I sold a bit this morning in anticipation of the cartel boys and bought back at $872. Catching a falling (but golden!) knife, will I get my fingers chopped off? Link to comment Share on other sites More sharing options...
Tune2001 Posted June 10, 2008 Report Share Posted June 10, 2008 It may be all talk from the 'plunge protection team'. But it's working! Now down to $870. I bought at $877 today. No worries tho, Steve's chart will win the day! Link to comment Share on other sites More sharing options...
marceau Posted June 10, 2008 Report Share Posted June 10, 2008 Gold is getting its ass kicked today, but based on what? More empty words from men famous for their lies and ineptitude. This move is way overdone, but given the prevailing air of stupidity out there today I wouldn't be surprised to see the market try to take gold down to the old lows. All of this while oil sits near all time highs. Beyond belief. In fact I don't believe it so I'm buying more. Link to comment Share on other sites More sharing options...
electroweak Posted June 10, 2008 Report Share Posted June 10, 2008 Gold is getting its ass kicked today, but based on what? More empty words from men famous for their lies and ineptitude. This move is way overdone, but given the prevailing air of stupidity out there today I wouldn't be surprised to see the market try to take gold down to the old lows. All of this while oil sits near all time highs. Beyond belief. In fact I don't believe it so I'm buying more. Excellent! It is an opportunity, I think! Link to comment Share on other sites More sharing options...
G0ldfinger Posted June 10, 2008 Author Report Share Posted June 10, 2008 Weehee! Mighty Bernanke-speak lets gold drop. I am scared to death. Meanwhile, Bernanke is preparing to chop down every single tree in North America to be able to paper over the 1.144 Quadrillion derivatives mess. Link to comment Share on other sites More sharing options...
marceau Posted June 10, 2008 Report Share Posted June 10, 2008 Weehee! Mighty Bernanke-speak lets gold drop. I am scared to death. Meanwhile, Bernanke is preparing to chop down every single tree in North America to be able to paper over the 1.144 Quadrillion derivatives mess. Is gold going to drop and the dollar rise every time Bernanke repeats this strong dollar statement? What he said today was almost identical to what he said last week, so the market has effectively reacted to the same piece of news twice. It may be pure bullshit, but it's working, gold is still selling off with no let up in sight. Link to comment Share on other sites More sharing options...
frizzers Posted June 10, 2008 Report Share Posted June 10, 2008 Let him speak. The chart will look better after one more retest of $850 Link to comment Share on other sites More sharing options...
drminky Posted June 10, 2008 Report Share Posted June 10, 2008 Let him speak. The chart will look better after one more retest of $850 Something for yall to put this latest gold selloff into perspective Link to comment Share on other sites More sharing options...
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