GatheringStorm Posted August 12, 2008 Report Share Posted August 12, 2008 It'll be interesting to see how Jim Puplava on Financial Sense rallies his troops in the face of this very nasty correction in gold and even more brutal HUI correction. He's kept me in my gold and gold share positions for years with his near religious faith in gold but even he and his fellow preacher Eric King will struggle to calm their flock now. I always tell myself I will buy the dips when they come along but it would definitely take some balls to buy gold stocks today. Link to comment Share on other sites More sharing options...
cazlane Posted August 12, 2008 Report Share Posted August 12, 2008 I might buy some junk silver soon. Not sure whether I will go American or British. British are less recognizable and only 40%, I think. So, maybe I go for American 90% coins. The good thing is that while your gold coins will (inconveniently) buy the whole supermarket when the SHTF, a silver coins will be good for one shelf only. It's just handy to have some. The 'junk' silver has gone a bit mental of late so Im just wondering if you'd be any better off than just buying .999 stuff since I haven't seen that much of a saving to be had tbh. I keep an eye on fleabay to see what drifts past unnoticed by the majority due to end times at odd hours and so on. Having spoken to my own 'little dicky bird' this afternoon I am going to stick with my original thoughts on this-it can go lower, so am hanging on to see what tomorrow's fix brings. Link to comment Share on other sites More sharing options...
Gatesy Posted August 12, 2008 Report Share Posted August 12, 2008 Are you buying an actual silver future there, or are you just betting/are they just shorting something to you? Buying (or selling) futures. If the contract expires, how do you usually take physical delivery? Chance would be a find thing... Is it real, or just paper? Real enough until the system blows up, then it won't matter will it. Link to comment Share on other sites More sharing options...
G0ldfinger Posted August 12, 2008 Author Report Share Posted August 12, 2008 As most of you already know, a Sighting of Silver Sammy (SSS) has occured. Therefore an update on the Silver Sammy Contrary Indicator (SSCI). Draw your own conclusions, but I am too busing buying to write more. :lol: (Just kidding, really.) Link to comment Share on other sites More sharing options...
drbubb Posted August 12, 2008 Report Share Posted August 12, 2008 This is constructive. This is what a bottom should look like: The above is the Oil Holders etf (OIH) - includes shares of Oil Service companies. It often leads Oil (USO), which has sometimes led Gold (GLD) also. It made a low yesterday on light volume, and then rose on heavier volume. That's a very positive sign, and now it looks set to break above that downtrend line. If OIH opens higher on big volume, a bottom may be in place, and I think it is then likely that a Gold bottom will come within a few days also. OIH is higher this morning in NY, and has broken its downtrend. Meantime, GLD looks set to test its low on lighter volume, which would be a potential bottoming formation. But more work is required, and maybe a visit to GLD-$79 to fill that gap from last Christmas Link to comment Share on other sites More sharing options...
cazlane Posted August 12, 2008 Report Share Posted August 12, 2008 As most of you already know, a Sighting of Silver Sammy (SSS) has occured. Therefore an update on the Silver Sammy Contrary Indicator (SSCI). Draw your own conclusions, but I am too busing buying to write more. :lol: (Just kidding, really.) Yes and he's having the vapours alright poor sod Link to comment Share on other sites More sharing options...
G0ldfinger Posted August 12, 2008 Author Report Share Posted August 12, 2008 THE COIL HAS BEEN RELEASED in exactly the kind of manner one would expect it. First a little spike upwards, then (this is what I think) a massive spike downwards. Let's wait and see. This is really exciting! Compare also: Link to comment Share on other sites More sharing options...
Pixel8r Posted August 12, 2008 Report Share Posted August 12, 2008 The Black-Scholes Atomic Debt Bomb & 7 Predictions - MAX KEISER 22/06/08 Predictions: 1) The price of gold and the Dow Jones will reach parity between 4,000 and 5,000 (i.e., gold will trade between $4 - 5,000 as does the Dow Jones Industrial Average). 2) America's sovereignty, as defined as percentage ownership of American financial assets, principally U.S. government bonds (soon to no longer be rated AAA), will be mostly in the hands of foreigners. 3) China will buy Fannie Mae and Freddie Mac and in so doing become America's biggest land lord. 4) Very few of the current Bush administration, family, and close associates will be living inside U.S. borders within 6 months after leaving office. 5) The Presidential election in November will be delayed due to a global financial crisis. 6) The U.S. military in Iraq and Afghanistan will start to run out of money and be left to get out on their own resulting in American mercenaries hiring groups like the Taliban to escort them out of the region, with Bin Laden getting a commission on each deal. 7) Russia will emerge as the new power broker in a post-America world restoring financial order between America, the largest debtor in the world and China, the largest creditor in the world. Link to comment Share on other sites More sharing options...
wren Posted August 12, 2008 Report Share Posted August 12, 2008 Incase anyone missed it. The Silver Sammy index is screaming http://goldismoney.info/forums/showthread.php?t=290831 Hahaha. The Oracle has spoken: THANK YOU F#CKIN TED BUTLER! Years...YEARS!! worth of gains wiped out in days because of a mild dollar rally??? The game is rigged & the jokes on US! Face it - THERE IS NO SHORTAGE & no matter how low the dollar goes YOU'LL NEVER GET RICH off this dog investment! Repeat after Sammy: THERE IS NO ROCKET LAUNCH --- EVER!!! I PRAY TO JESUS this pig can get out of its mudd & has one more rally...I'M SELLING IT ALL! .999 / 90% EVERYTHING! I'm glad I waited a while before my silver purchases. Bargain prices now. Link to comment Share on other sites More sharing options...
electroweak Posted August 12, 2008 Report Share Posted August 12, 2008 SSIM: Looks like we're in for the rally of all rallies! ... (hopeful) Link to comment Share on other sites More sharing options...
azazel Posted August 12, 2008 Report Share Posted August 12, 2008 THE COIL HAS BEEN RELEASED in exactly the kind of manner one would expect it. First a little spike upwards, then (this is what I think) a massive spike downwards. Let's wait and see. This is really exciting! Compare also: I dont know that I would call it exciting. I get more excited when it goes up! Perhaps you could explain? Do you think this violent move down will precede a massive move up? Link to comment Share on other sites More sharing options...
wren Posted August 12, 2008 Report Share Posted August 12, 2008 I dont know that I would call it exciting. I get more excited when it goes up! Perhaps you could explain? Do you think this violent move down will precede a massive move up? That's the the gold:silver ratio. GF expects it to drop, i.e. silver will increase more rapidly than gold. GF is longer silver than gold and I think his day might come, but it requires lots of patience. Link to comment Share on other sites More sharing options...
Gatesy Posted August 12, 2008 Report Share Posted August 12, 2008 I dont know that I would call it exciting. I get more excited when it goes up! Perhaps you could explain? Do you think this violent move down will precede a massive move up? GF is looking for a singificant lowering in the gold/silver ratio. ie. silver appreciates relative to gold such that if say gold was $1000 then silver could be say $28 if the ratio fell to 35 ounces of silver to one ounce of gold. edit: "jinx" Link to comment Share on other sites More sharing options...
wren Posted August 12, 2008 Report Share Posted August 12, 2008 815.60 and 14.55 for silver. Gold has held above 810 today after yesterday's impressive smackdown. Strange how days can be so different. Link to comment Share on other sites More sharing options...
Wanderer Posted August 12, 2008 Report Share Posted August 12, 2008 Interestingly, my Royal Gold stock is currently standing up far better against this hammering than Gold itself - rather the reverse of the recent rise. Link to comment Share on other sites More sharing options...
safebetter Posted August 12, 2008 Report Share Posted August 12, 2008 Axstone is calling the bottom: "BOTTOM IS IN PIGS FLEW FOR A DAY.. " Also: "Cyclist who has a thread on kitco also says today is the "fulcrum day," his term for a reversal. He also said the gold market would bottom in the third week of august, and he says this is the third week. He made the prediction about the third week in august several months ago, when the gold market was doing well. He has his share of misses, but he also called August 16 or 17th, I forget which day it was, as the bottom last year, and it was a horrible panic bottom, but he was right. He made that call several months in advance. fwiw.." https://www.kitcomm.com/showthread.php?t=85&page=889 What do we think? I was going to buy more at $860, glad I didn't. Dosh sat cosily in BV....... SafeBetter Link to comment Share on other sites More sharing options...
safebetter Posted August 12, 2008 Report Share Posted August 12, 2008 This would certainly cause an spike in POG: http://europebusines.blogspot.com/2008/08/...s-for-iran.html Similar to the situation with Iraq, back them into a corner with only one option. It's one helluva task force - gonna need plenty of oil for that lot. If I'm honest it is not really the way I want to see gold rise, off the back of a war SafeBetter Link to comment Share on other sites More sharing options...
bitbigt Posted August 12, 2008 Report Share Posted August 12, 2008 815.60 and 14.55 for silver. Gold has held above 810 today after yesterday's impressive smackdown. Strange how days can be so different. Yesterday the stops were open ready to be triggered Today there are no stops left to trigger Link to comment Share on other sites More sharing options...
Bobsta Posted August 12, 2008 Report Share Posted August 12, 2008 Yesterday the stops were open ready to be triggered Today there are no stops left to trigger Absolutely 100% spot on. Link to comment Share on other sites More sharing options...
safebetter Posted August 12, 2008 Report Share Posted August 12, 2008 http://seekingalpha.com/article/90247-cont...-and-financials Interesting article if you've not seen it already: The U.S. Dollar and Gold - The dollar posted a surprise rally in the past week, after European central banks signaled that they would not raise rates. The story goes that the move is bearish for the Euro and therefore bullish for the dollar. The dollar bulls have been looking for any reason for a rally. A dollar run from 71.50 to 76 in a matter of days, solely on this news and in the face of declining wages and the highest inflation figures in a quarter of a century? Gold, which has an inverse relationship with the dollar, lost $100 alongside the dollar run. All of this while a new war rages at the border of Russia, which could easily widen and become much more dangerous. We also have reports of a massive U.S. naval armada heading for Iran. The dollar is now incredibly overbought and gold is extremely oversold and resting on key support at $850. The massive debt, economic ills, negative real interest rates, deficit spending and aggressive foreign policy of the United States has not changed. There is no fundamental reason for a dollar rally of this magnitude and it will not last. This is likely the last buying opportunity for gold under $900. SafeBetter Link to comment Share on other sites More sharing options...
G0ldfinger Posted August 12, 2008 Author Report Share Posted August 12, 2008 If history repeats itself, I'd expect EURUSD > 1.65 and PoG > $1,100 in the not too distant future. Link to comment Share on other sites More sharing options...
kernull Posted August 12, 2008 Report Share Posted August 12, 2008 If history repeats itself, I'd expect EURUSD > 1.65 :o aaaaaahhh!? Are you serious??? This due to dollar collapse or due to european economy? because every fundamental I read about euro is that it will go lower, the lowest prediction I have seen is EUR/USD to 1.33 by november/october Link to comment Share on other sites More sharing options...
wren Posted August 12, 2008 Report Share Posted August 12, 2008 A reminder of the seasonality. From this article: http://www.kitco.com/ind/Holmes/holmes_aug072008.html Of course, not every year is the same but on average September is the best. Link to comment Share on other sites More sharing options...
G0ldfinger Posted August 12, 2008 Author Report Share Posted August 12, 2008 :o aaaaaahhh!? Are you serious??? This due to dollar collapse or due to european economy? because every fundamental I read about euro is that it will go lower, the lowest prediction I have seen is EUR/USD to 1.33 by november/october Let's say German EUR. Not sure what's going to happen in Ireland and ClubMed. Ireland might go back to the Irish Peso soon. I heard the have a house price problem. I am bearish on the EUR as well, by the way. I think gold will do much better. Link to comment Share on other sites More sharing options...
wrongmove Posted August 12, 2008 Report Share Posted August 12, 2008 If history repeats itself, I'd expect EURUSD > 1.65 and PoG > $1,100 in the not too distant future. I am bearish on the EUR as well, by the way. So you don't think 1.65 anymore? What about the dollar/gold correlation then? History not going to repeat after all? confused.com Link to comment Share on other sites More sharing options...
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