grumpy-old-man Posted September 11, 2009 Report Share Posted September 11, 2009 I am mindful that being a Friday, today would be a good day for a smackdown in order a to prevent a weekly close above $1000, which as we know would be technically significant. Link to comment Share on other sites More sharing options...
TrueNorth Posted September 11, 2009 Report Share Posted September 11, 2009 Well, I'm on for a bit of gold-watching this sunny UK afternoon as NY opens. Me too. Just opened a beer. Edited to add: It's been a morning of heavy lifting and shelf installation. Link to comment Share on other sites More sharing options...
TrueNorth Posted September 11, 2009 Report Share Posted September 11, 2009 Has he ever been right? Yes, warpig, he was right last year about the distress in the credit markets and predicted the autumn crash. He also said we'd have a tradeable rally in the spring and into the summer. Link to comment Share on other sites More sharing options...
warpig Posted September 11, 2009 Report Share Posted September 11, 2009 Yes, but even my nan predicted this... Sorry I don't hold him in particularly high regard. Yes, warpig, he was right last year about the distress in the credit markets and predicted the autumn crash. He also said we'd have a tradeable rally in the spring and into the summer. Link to comment Share on other sites More sharing options...
TrueNorth Posted September 11, 2009 Report Share Posted September 11, 2009 Yes, but even my nan predicted this... Sorry I don't hold him in particularly high regard. No bother. Link to comment Share on other sites More sharing options...
LauraB Posted September 11, 2009 Report Share Posted September 11, 2009 oh, I do love this chart, one of my favs: clicky-linky number 16 perhaps?? "... irregular and conflicting movements of business should soon give way to a sustained recovery..." - HES June 28, 1930" Hello. Can you deliver? I'll have nos 15, 18; & why isn't there one between 19 & 20? "THEY TRIED TO SELL US EGG FOO YOUNG" Link to comment Share on other sites More sharing options...
grumpy-old-man Posted September 11, 2009 Report Share Posted September 11, 2009 Hello. Can you deliver? I'll have nos 15, 18; & why isn't there one between 19 & 20? "THEY TRIED TO SELL US EGG FOO YOUNG" no idea ? perhaps no-one dared venture any opinion at all by then. Link to comment Share on other sites More sharing options...
azazel Posted September 11, 2009 Report Share Posted September 11, 2009 Can't believe you didn't say Gold AND Silver! Oh stop it. You know silver is included in reference to gold. You are like Stan in The Life of Brian about women. A particularly nice September afternoon, cold cider, lime washing the cob walls in Devon. Life is good. Gold and SILVER doing better. Will gold close bove $1000 and silver close above $17? Link to comment Share on other sites More sharing options...
id5 Posted September 11, 2009 Report Share Posted September 11, 2009 I am persuaded that good trading consists in doing absolutely nothing 99.9% of the time. I would go with that but change it slightly to I am persuaded that good trading consists in forcing yourself to do absolutely nothing 99.9% of the time. It is so hard to be dispassionate..m investment failures have been because I panicked, just couldn't resist and added a bit more or coming out of a trade too early. Plan your trade and trade your plan. Link to comment Share on other sites More sharing options...
romans holiday Posted September 11, 2009 Report Share Posted September 11, 2009 I would go with that but change it slightly to I am persuaded that good trading consists in forcing yourself to do absolutely nothing 99.9% of the time. It is so hard to be dispassionate..m investment failures have been because I panicked, just couldn't resist and added a bit more or coming out of a trade too early. Plan your trade and trade your plan. For sure. You really need to know yourself... as psychology [your own] is so central. Perhaps there is a "zen for traders" angle here [not that I am a Buddhist]: Consider your position to be a good one if you are comfortable with the market moving either way.... in the short term. Having a well-hedged position goes a long way as far as the "comfort zone" goes. If you are in the zone, it will be unlikely that you will second guess yourself. Sit back and enjoy the ride, all the twists and turns, while being confident in the final destination. I am not sure whether I want the market to go up or down here. If it went up, I could trade silver for gold. If it went down, I would be buying silver with my cash reserve. My guess is it is going up, with the Dow through 10000 and hopefully the ratio near 50. Now on the 59 handle. Link to comment Share on other sites More sharing options...
alexreeve Posted September 11, 2009 Report Share Posted September 11, 2009 I am mindful that being a Friday, today would be a good day for a smackdown in order a to prevent a weekly close above $1000, which as we know would be technically significant. Apparently not. Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted September 11, 2009 Report Share Posted September 11, 2009 Link to comment Share on other sites More sharing options...
Pluto Posted September 11, 2009 Report Share Posted September 11, 2009 The London and New York casinos are losing control of the price of gold. Futures traders and hedge funds are starting to demand delivery and not selling contracts and booking gains/losses. This is why the Casinos are losing control and why there are outfits popping up everywhere willing to buy your Nan's tinklets. Keep it real and physical, you know the stuff you can polish, all else is fools' gold. Link to comment Share on other sites More sharing options...
alexreeve Posted September 11, 2009 Report Share Posted September 11, 2009 USDX just went vertical according to goldseek??? Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 11, 2009 Author Report Share Posted September 11, 2009 Look who's back! Gold just hit $1,011.70. Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 11, 2009 Author Report Share Posted September 11, 2009 OK, this was serious, because the London PM Fixing was at $1,009.250 - i.e. the spike was physical, and not in the shady stuff. Link to comment Share on other sites More sharing options...
azazel Posted September 11, 2009 Report Share Posted September 11, 2009 Look who's back! Gold just hit $1,011.70. Hey, its just a number like any other. :P Link to comment Share on other sites More sharing options...
romans holiday Posted September 11, 2009 Report Share Posted September 11, 2009 Quite amazing how far gold is off its highs as priced in Euros. Similiar situation in Sterling suggesting a weak dollar story for the moment. Link to comment Share on other sites More sharing options...
Pixel8r Posted September 11, 2009 Report Share Posted September 11, 2009 Quite amazing how far gold is off its highs as priced in Euros. Similiar situation in Sterling suggesting a weak dollar story for the moment. This is just showing that the dollar has fallen through support, over the last week and is carrying on down. I am sure new high in the euro/gold and pound/gold will be made at some point over the next 6 months. Bet you wish you had converted some of those dollars into to silver now, rather than waiting for even cheaper prices. Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 11, 2009 Author Report Share Posted September 11, 2009 ... Bet you wish you had converted some of those dollars into to silver now, rather than waiting for even cheaper prices. You got to be in it to win it. Link to comment Share on other sites More sharing options...
romans holiday Posted September 11, 2009 Report Share Posted September 11, 2009 This is just showing that the dollar has fallen through support, over the last week and is carrying on down. I am sure new high in the euro/gold and pound/gold will be made at some point over the next 6 months. Bet you wish you had converted some of those dollars into to silver now, rather than waiting for even cheaper prices. FYI all my spare powder is in Yen at the moment which I am perfectly happy with [i do have a solid position in silver though imo it would be silly to be invested 100% in silver here]. This months income will go into dollars... but I might wait 'til they get a bit cheaper. Buy on weakness and all that. Yes, there should be new highs in euro and Sterling at some point. I am not suggesting otherwise. What I am suggesting is it may not be a one way shoot to the moon here. Further dips are likely in the interim. Link to comment Share on other sites More sharing options...
romans holiday Posted September 11, 2009 Report Share Posted September 11, 2009 You got to be in it to win it. 100% agreed. Link to comment Share on other sites More sharing options...
TrueNorth Posted September 11, 2009 Report Share Posted September 11, 2009 Jeepers, you spend the afternoon detailing the car and all hell breaks loose. $1008 now. And this from Bob Moriarty: "Take some money off the table" Bob Moriarty, 321gold This is an opinion. It is only an opinion. I am not a guru. I don't believe in gurus. The stock market is getting nuts. It's been a wild ride higher and now everyone wants investors to believe all is right with the world. It's not. Things are getting worse daily. If you are in the stock market, take some money off the table. There are more optimists now than there were at the market high in October of 2007. The dollar is getting clobbered. Everyone hates the dollar. When everyone hates the dollar, it's going to go higher. Gold and silver are behaving well but they too, are overdone. You don't have to be 100% invested all of the time. If you have some profits, take some money off the table. If you don't have profits, you haven't been reading me for the last nine months. We probably are not at exactly a trading top but we are pretty close. Better to sell a day early than a day late. This is only an opinion. It didn't come down the mountain with Moses carved into pretty marble. But I'm going to the caution mode myself. It's been too easy to make money for too long and that always makes me nervous Link to comment Share on other sites More sharing options...
Pixel8r Posted September 11, 2009 Report Share Posted September 11, 2009 And this from Bob Moriarty: "Take some money off the table" Bob Moriarty, 321gold Blasphemy IMHO we are just getting started. Link to comment Share on other sites More sharing options...
dietcolaaddict Posted September 11, 2009 Report Share Posted September 11, 2009 Still waiting to see if Mr Smackdown makes an unwelcome late appearence..... In the meantime... China’s insatiable appetite for gold underpins market http://www.timesonline.co.uk/tol/news/worl...icle6829932.ece Article begins: China is underpinning the gold market with a surge in demand from newly rich Chinese consumers for jewellery and gold bars and official encouragement for private purchases of precious metals. The recent surge in the price of bullion to $1,000 per ounce is occurring during a slump in demand for gold jewellery in every country except China. While consumers in traditional gold-buying countries, such as India, have kept a tight grip on their purses because of high prices, a poor monsoon and the recession, Chinese consumers are following their central bank and hoarding the yellow metal. Link to comment Share on other sites More sharing options...
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