Steve Netwriter Posted June 15, 2009 Report Share Posted June 15, 2009 Add: Russia has faith in the US$. We're doomed, doomed I tell you This is apparently triple witching week, what ever that means. Link to comment Share on other sites More sharing options...
aliveandkicking Posted June 15, 2009 Report Share Posted June 15, 2009 Georges video makes you realise why so few people are going to be trading silver anytime soon as currency. 1. The guy taking the silver had to be a coin expert to be confidant the dimes were 90% silver. 2. He had to be accurate with a calculator 3. He had to have the ability to offload the silver to a collector like the food purchaser without making a loss 4. He had to factor in his accountant like abilities to be accurate and work fast to do what he was doing while actually working as a till operator in a food store. Link to comment Share on other sites More sharing options...
Pixel8r Posted June 15, 2009 Report Share Posted June 15, 2009 Add: Russia has faith in the US$. We're doomed, doomed I tell you This is apparently triple witching week, what ever that means. Should be interesting then; What Does Triple Witching Mean? An event that occurs when the contracts for stock index futures, stock index options and stock options all expire on the same day. Triple witching days happen four times a year on the third Friday of March, June, September and December. http://www.investopedia.com/terms/t/triplewitchinghour.asp Link to comment Share on other sites More sharing options...
Steve Netwriter Posted June 15, 2009 Report Share Posted June 15, 2009 An event that occurs when the contracts for stock index futures, stock index options and stock options all expire on the same day. Triple witching days happen four times a year on the third Friday of March, June, September and December. Thank you Link to comment Share on other sites More sharing options...
sylvester Posted June 15, 2009 Report Share Posted June 15, 2009 Should be interesting then; What Does Triple Witching Mean? An event that occurs when the contracts for stock index futures, stock index options and stock options all expire on the same day. Triple witching days happen four times a year on the third Friday of March, June, September and December. http://www.investopedia.com/terms/t/triplewitchinghour.asp Oh, I thought it might be 'Scottish' Link to comment Share on other sites More sharing options...
romans holiday Posted June 15, 2009 Report Share Posted June 15, 2009 Oh, I thought it might be 'Scottish' I thought it referred to Bernanke, Geithner and Summers. Link to comment Share on other sites More sharing options...
electroweak Posted June 15, 2009 Report Share Posted June 15, 2009 Actually, this might be a serious question for the Options thread: what effects can one observe on a triple witching week? I think I'll post it.. I closed out my FTSE-100 put this morning because I don't know what effect it will have. Link to comment Share on other sites More sharing options...
romans holiday Posted June 15, 2009 Report Share Posted June 15, 2009 Could be some more selling with 930 breached. I am putting my money on a floor at 900. Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted June 15, 2009 Report Share Posted June 15, 2009 Not sure if we will even get down as low as $930, maybe tomorrow. Next week is looking good to me, as I have been saying for over a month the middle of June is the take off point. Target $1300 one for you pix Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted June 15, 2009 Report Share Posted June 15, 2009 and here's the longer term picture Link to comment Share on other sites More sharing options...
warpig Posted June 15, 2009 Report Share Posted June 15, 2009 Is it fair to say the losses in gold are a result of currencies strengthening, rather than gold loosing ground? If so what the hell has GBP got to be happy about... Anyhow, I'm just seeing this as yet another opportunity to buy with both hands. Any thoughts where the floor is in GBP? Link to comment Share on other sites More sharing options...
DoctorSolar Posted June 15, 2009 Report Share Posted June 15, 2009 Is it fair to say the losses in gold are a result of currencies strengthening, rather than gold loosing ground? If so what the hell has GBP got to be happy about... Anyhow, I'm just seeing this as yet another opportunity to buy with both hands. Any thoughts where the floor is in GBP? Im in the "this is a buying opertunity" camp too. As far as how low can/will gold go in terms of GBP my current thinking is we saw a low of $700 last october. IF and thats a massive if we get that low again it will be as a result of a strengthening USD. Which could take GBP back down to 1.37USD easily IMHO. That would put the floor at around £510. So from here a downside risk of around 10%. Given the fundamentals and my current situation I could easily ride out a 10% fall from here. Goldmoney account good to go and a plan to average in from here over the next 8 weeks in both gold and silver. How much to allocate to each tho? Silver is wildly volatile so will perhaps go 70 gold/30 silver Link to comment Share on other sites More sharing options...
Mr Pipples Posted June 16, 2009 Report Share Posted June 16, 2009 Russia challenges dollar, China offers loans - http://finance.yahoo.com/news/Russia-chall...set=&ccode= Dvorkovich also proposed revising the way the International Monetary Fund's obligations are valued. He said the ruble, the yuan and gold should be part of a revised basket of currencies to form the valuation of the IMF's special drawing rights, or SDRs. Link to comment Share on other sites More sharing options...
romans holiday Posted June 16, 2009 Report Share Posted June 16, 2009 If the monetary system unwinds, I think they will be forced to rebuild the financial system of some kind of gold standard. The pragmatics would soon sweep aside ideology and prejudice. Perhaps they would have a basket of the senior currencies of stable economies convertable to gold, with then other weaker currencies in a more flexible arrangement. Something of the original Bretton Woods turned on its head. Link to comment Share on other sites More sharing options...
LauraB Posted June 16, 2009 Report Share Posted June 16, 2009 I'm sitting here with my simple strategy for a simple (ageing) lass. It consists of USD, EURO, GBP, Gold & at the moment 'Buy USD ' is the only voice coming into my head. The other two paper currencies don't deserve their current status; POG we all know can still be murdered at will (& I just don't get this 'mid-summer take off' talk). Whereas 'strong dollar - weak stocks' would seem to suit a few very powerful manipulative interests. I'd better not ask 'what have I missed?', it would not be fair on you guys! Link to comment Share on other sites More sharing options...
G0ldfinger Posted June 16, 2009 Author Report Share Posted June 16, 2009 .... 'Buy USD ' is the only voice coming into my head. ... Good luck with USD then! Link to comment Share on other sites More sharing options...
Pixel8r Posted June 16, 2009 Report Share Posted June 16, 2009 and here's the longer term picture Thanks for this, it seems to confirm what I have been seeing in the charts. I hadn't noticed the small head and shoulders on the intraday, have been concentrating on the giant reverse one, which should be completing any day over the next couple of weeks. Martin Armstrong has a Mid June turn date, which Jim Sinclair has mentioned numerous times. Small pull backs don't really make a lot of difference to me as I have been all in for over 2 years now I also never trade my physical metal (prefer to think of it as insurance), but have been using analysis to trade some of my gold/silver stocks within my ISA. Sold some Hocschild (HOC.L) last week at £3.06, have a rebuy target of £2.53, so I think I must have realised we had been advancing a bit to quickly. Link to comment Share on other sites More sharing options...
Pixel8r Posted June 16, 2009 Report Share Posted June 16, 2009 The other two paper currencies don't deserve their current status; POG we all know can still be murdered at will (& I just don't get this 'mid-summer take off' talk). Whereas 'strong dollar - weak stocks' would seem to suit a few very powerful manipulative interests. I'd better not ask 'what have I missed?', it would not be fair on you guys! Watch the video linked above. Link to comment Share on other sites More sharing options...
wren Posted June 16, 2009 Report Share Posted June 16, 2009 The Royal Canadian Mint is scared of a run on gold "in their vaults": Your gold is safe with us, mint tells clients Reassurance comes amid fears there will be a 'run' on holdings BY IAN MACLEOD, THE OTTAWA CITIZEN JUNE 13, 2009 COMMENTS (11) To halt a possible "run" on the gold it safeguards for private businesses, the Royal Canadian Mint is reassuring customers their deposits are fully accounted for and in secure vaults as the investigation continues into as much as $20 million in lost precious metals. Since the scandal broke last week, some precious metals market advisers have been trying to instigate "some kind of a run" on the custodial accounts of the Ottawa mint and other mints around the world, said Jon Nadler, senior metals market analyst with Montreal-based Kitco, one of the world's leading precious metals bullion dealers. http://www.ottawacitizen.com/Business/Your...1879/story.html So if all the deposits are in the vaults why are they worried? Link to comment Share on other sites More sharing options...
azazel Posted June 16, 2009 Report Share Posted June 16, 2009 POG we all know can still be murdered at will (& I just don't get this 'mid-summer take off' talk). Whereas 'strong dollar - weak stocks' would seem to suit a few very powerful manipulative interests. I'd better not ask 'what have I missed?', it would not be fair on you guys! I have a gut feeling you are right but why would Paulson buy his gold in the first quater if he could have got it cheaper in the summer? Everyone knows gold falls in the summer, but not always. http://arabianmoney.net/2009/06/13/paulson...ment-portfolio/ Link to comment Share on other sites More sharing options...
Pixel8r Posted June 16, 2009 Report Share Posted June 16, 2009 Dear Comrades In Golden Arms, I have a great deal of certainty that both Armstrong and Alf Fields are going to be proven 100% correct in their predictions that gold finds or has found its low in this month to be followed by a dynamic move to the upside. This move will not be modest by any means, but rather the most vigorous move we have experienced so far in this Gold bull market. Attend to completing whatever you wish to do in the next few coming days. Watch your simple trend lines very carefully this time because sales at $1000 will be wrong. The glib saying of "Sell in May and go away" will separate you from terrific gains this time around. Regards, Jim Gold reverse head and shoulders due to complete this month, Target $1300. You have to be in it to win Link to comment Share on other sites More sharing options...
G0ldfinger Posted June 17, 2009 Author Report Share Posted June 17, 2009 ... So if all the deposits are in the vaults why are they worried? Yeah, why? It's not a fractional reserve system, right? Link to comment Share on other sites More sharing options...
G0ldfinger Posted June 17, 2009 Author Report Share Posted June 17, 2009 Alf Fields and Martin Armstrong Will Be Proven Correct Posted: Jun 16 2009 By: Jim Sinclair Post Edited: June 16, 2009 at 1:49 pm Filed under: General Editorial My Dear Friends, I have a great deal of certainty that both Martin Armstrong and Alf Fields are going to be proven 100% correct in their predictions that gold finds or has found its low in this month to be followed by a dynamic move to the upside. This move will not be modest by any means, but rather the most vigorous move we have experienced so far in this Gold bull market. Attend to completing whatever you wish to do in the next few coming days. Watch your simple trend lines very carefully this time because sales at $1000 will be wrong. The glib saying of "Sell in May and go away" will separate you from terrific gains this time around. Regards, Jim Link to comment Share on other sites More sharing options...
Steve Netwriter Posted June 17, 2009 Report Share Posted June 17, 2009 The Royal Canadian Mint is scared of a run on gold "in their vaults": http://www.ottawacitizen.com/Business/Your...1879/story.html So if all the deposits are in the vaults why are they worried? Exactly. Jon Nadler. Where's the puke smilie? Link to comment Share on other sites More sharing options...
drbubb Posted June 17, 2009 Report Share Posted June 17, 2009 Jim Sinclair is starting to sound a bit shrill now ! GOLD ETF's : Normal, Short, and Geared Find them ALL, here: http://www.greenenergyinvestors.com/index.php?showtopic=5466 You can easily find this thread, by looking at the top of the page, Find: ......... - Link to: Goldstock.co.uk : ^ Click on this above, to find thread #5466 Link to comment Share on other sites More sharing options...
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