harryharhar Posted March 17, 2008 Report Share Posted March 17, 2008 is it natural to be feeling slightly nauseus..!?.. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted March 17, 2008 Report Share Posted March 17, 2008 £509.16 on BV :blink: Link to comment Share on other sites More sharing options...
qwerty Posted March 17, 2008 Report Share Posted March 17, 2008 Bubb, what do you think the stock market will do in the states? Any thoughts? Tommorow is supposed to be a green day - y'know saint paddies day and all. Here you go Pluto lots of Green and "Pay no attention to that man behind the curtain" Link to comment Share on other sites More sharing options...
Pluto Posted March 17, 2008 Report Share Posted March 17, 2008 1030.00 ho hum... Link to comment Share on other sites More sharing options...
enrieb Posted March 17, 2008 Report Share Posted March 17, 2008 Geeez, it's going up vertically ! 1027 Correct that, 1027.85 That makes it 11.6 ounces of gold to buy the Dow, if the Dow falls when the US markets open we could see the ratio go 11 to 1. Link to comment Share on other sites More sharing options...
harryharhar Posted March 17, 2008 Report Share Posted March 17, 2008 Here you go Pluto lots of Green and "Pay no attention to that man behind the curtain" Brilliant..!! Link to comment Share on other sites More sharing options...
drbubb Posted March 17, 2008 Report Share Posted March 17, 2008 Did you ever feel like you wanted to beat idiots, who fail to acknowledge economic reality, with a big stick? Gold's the stick, and today is the day. WAKE-UP! As we go through the day... Gold chart # 1 .............. : Link to comment Share on other sites More sharing options...
wren Posted March 17, 2008 Report Share Posted March 17, 2008 is it natural to be feeling slightly nauseus..!?.. Well, sometimes if you're straight back from the pub, yes. Paper currency is going down. No need to panic, just position yourself appropriately. I should tell or hint diplomatically to family and friends also, especially if they're not broke. These things are playing out over the course of years. No need to panic, just think, assess and get informed. Link to comment Share on other sites More sharing options...
Pluto Posted March 17, 2008 Report Share Posted March 17, 2008 Well, sometimes if you're straight back from the pub, yes. Paper currency is going down. No need to panic, just position yourself appropriately. I should tell or hint diplomatically to family and friends also, especially if they're not broke. These things are playing out over the course of years. No need to panic, just think, assess and get informed. I would hate to be spread betting gold short right now. A 30 point move against you could end up costing you a lotta lolly. Link to comment Share on other sites More sharing options...
harryharhar Posted March 17, 2008 Report Share Posted March 17, 2008 Well, sometimes if you're straight back from the pub, yes. haha..true...but you know us Irish..!?..it's just mad looking at this kitco chart though - every time I refresh it just keeps going up..!?.. Link to comment Share on other sites More sharing options...
drbubb Posted March 17, 2008 Report Share Posted March 17, 2008 Intervention Watch? ""The dollar rose from a record low against the euro and traded above 100 yen as securities firms speculated central banks will collaborate to shore up the U.S. currency for the first time in 13 years. Goldman Sachs Group Inc. and Morgan Stanley said coordinated action by policy makers to stem the currency's slide is increasingly likely. The gains limited the dollar's losses in a week when it fell to a 12-year low versus the yen, approached parity with the Swiss franc and traded above $2 per U.K. pound. "The market is certainly on intervention watch," said Hans-Guenter Redeker, global head of currency strategy in London at BNP Paribas SA, France's largest bank. "If I was in their shoes I would intervene in a concerted way that supported the dollar." This was before the big news unfolded in the markets today, but you can see where this may be going with a dollar at 99.25 yen and 1.57 euros. Stocks lost 194 point but basically ended the week without too much in the way of a loss. Not that they are immune from a bad week ahead. Good news? The stock of the maker of Jack Daniels was UP today. Tells you where the trading crowd/investment banker/regulator is heading promptly at 5:00 pm today. Hey, it IS St.Patty's Day after all, isn't it? And we even have a pot of (very expensive) gold to hold on to." /see: http://www.kitco.com/ind/Nadler/mar142008B.html Link to comment Share on other sites More sharing options...
wren Posted March 17, 2008 Report Share Posted March 17, 2008 Did you ever feel like you wanted to beat idiots, who fail to acknowledge economic reality, with a big stick? Gold's the stick, and today is the day. WAKE-UP! As we go through the day... Gold chart # 1 .............. : But, DrBubb, isn't it rather disingenuous to compare a decadal chart with an hourly chart? Is this the same as last time? And if so, whereabouts on the chart in terms of year-to-year correspondence would you say we are? And is there the possiblity that the timing, the magnitudes are different? Link to comment Share on other sites More sharing options...
Billy Posted March 17, 2008 Report Share Posted March 17, 2008 http://www.kitco.com/charts/livegold.html Still 30 dollars +++ off, yes, I said THIRTY +++ ....... still showing 1002 when it is almost 30 more +++ ... It ALWAYS cracks me up that arch gold-basher Kitco (No-gonads Nadler) is ALWAYS a dollar short and a day late when gold is on a tear. :blink: Link to comment Share on other sites More sharing options...
warpig Posted March 17, 2008 Report Share Posted March 17, 2008 I'm not so sure we will see $1K again after tonight.... I don't think you'll get anywhere near $820, if there is a big correction the absolute lowest I can see is $850. I think the correction will come, but not until the current Fed antics have been played out and the DOW has made its mind up about where it's going to go (down in my opinion). Your right about the flow of news, this negates the usual TA. I don't see a problem with that, the news (with the exception of the Fed/investment bank positive spin bullsh*t) is effectively relaying the fundamental picture to the masses, and it's fundamentals which will allow sentiment to take gold higher. I'm operating on a large core position (mostly equities, some physical) built up years ago, which I never trade, but occasionally add to. In addition to that, I have my 'play money' for trading, which moves around on a more regular basis. If gold goes above $1030, I may take profit in my trades and wait. But my core position will still be there, so I'll still be in the market. This has worked for me for years, and kept me sane during the May 06 nightmare. It was far easier to not rush into buying when I knew I wasn't out of the market altogether. It's all about risk at the end of the day. As Jim Sinclair says - you don't want to be THAT guy who went bust trading gold in a massive gold bull market. Link to comment Share on other sites More sharing options...
warpig Posted March 17, 2008 Report Share Posted March 17, 2008 The box is full of gold, so I'm just using what ever I can find now... Fill your boots with Silver? Why do people want to fill their footwear with metal? Haven't you got a box to put it in? Link to comment Share on other sites More sharing options...
warpig Posted March 17, 2008 Report Share Posted March 17, 2008 Thanks for the suggestion, but I saw the market move this evening and dived in... I'll have to put off buying some 1 oz Buffalo's for a wee while. Why not look at some Juniors? Link to comment Share on other sites More sharing options...
wren Posted March 17, 2008 Report Share Posted March 17, 2008 The decay of fiat currencies is certainly a sight to see. But one shouldn't get too complacent as hard times are surely ahead. This is a bagpipe solo played by Gordon Walker during which to meditate the forthcoming hardships (bagpipe haters, please skip). (Oban 2006. The last peice of the medley is named John MacDonald of Glencoe, they say). http://www.youtube.com/watch?v=Q0kLt2H9pXo...feature=related Link to comment Share on other sites More sharing options...
Billy Posted March 17, 2008 Report Share Posted March 17, 2008 The decay of fiat currencies is certainly a sight to see. But one shouldn't get too complacent as hard times are surely ahead. This is a bagpipe solo played by Gordon Walker during which to meditate the forthcoming hardships (bagpipe haters, please skip). (Oban 2006. The piece is named John MacDonald of Glencoe). http://www.youtube.com/watch?v=Q0kLt2H9pXo...feature=related Thank you wren! Most moving. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted March 17, 2008 Report Share Posted March 17, 2008 The charts should say it all ! These are the currencies I'm watching. This one is very important to me. This is what I've been waiting for: And what most people on here are watching Link to comment Share on other sites More sharing options...
wren Posted March 17, 2008 Report Share Posted March 17, 2008 @Steve. But is there any signal to get into paper like yen, rather than barbaric relics lying, like, in a Zurich vault, yet? P.S. The x-axis looked a bit screwy on your NZ$ v. yen graph (the last one), but maybe I'm just getting old . Link to comment Share on other sites More sharing options...
Steve Netwriter Posted March 17, 2008 Report Share Posted March 17, 2008 The Fed must be working on some other plan for the morning before the open. Gold is going up against all currencies - this is not just a dollar problem - it is a fiat money problem. But what can they do ? Aren't all the 'enlightened' commentators saying they have no good options. All roads lead to hell. That doesn't mean there won't be bounces on the things falling and dips of the things rising, but isn't the end inevitable ?! Link to comment Share on other sites More sharing options...
Steve Netwriter Posted March 17, 2008 Report Share Posted March 17, 2008 @Steve.But is there any signal to get into paper like yen, rather than barbaric relics lying, like, in a Zurich vault, yet? P.S. The x-axis looked a bit screwy on your NZ$ v. yen graph (the last one), but maybe I'm just getting old . Back @ you Back before Aug/Sep I was looking at all the currency options. We had GBP and wanted to end up with NZ$. After much looking I decided upon converting GBP to Yen, waiting for both the GBP and NZ$ to fall, and then converting the Yen to NZ$. Currencies have become a bit of a passion for me recently, and there's much to say about that system. One of the most surprising aspects is that the risk/reward ratio is not 1. ie the potential loss if the Yen went down was about half the potential gain if it went up. So amazingly a very good gamble. Since then I've become a goldbug. I've even got the Blue Peter Goldbugs badge At the moment I see it like this: 1. The Yen carry trade could/will unwind like it did before, and the resultant rise in the Yen could be quite massive. 2. So it's better to be in Yen than just about every other currency (fiat currency ). 3. Gold may or may not beat the Yen rise in the short term. 4. But, then there is the risk. Holding Yen is riskier than holding gold/silver. IMO. So I am in a rather unfortunate position of having Yen and gold/silver, and having to watch both rocket upwards, not sure which is going to rise most and whether the Yen is safe. It's a tough life but someone's gotta do it Re the chart. It does look screwy, but it is kinda right. They display the month and day of month on some scales So it's 5th Feb, 5th Mar, 2nd Apr etc !!!! Certainly not as good as the charting software I've written in the past Link to comment Share on other sites More sharing options...
Steve Netwriter Posted March 17, 2008 Report Share Posted March 17, 2008 OK a few questions: 1. What happened to the Japan intervention at 100 Are they going to intervene ? Or do they know the pressure is just too great and they'd just fail ? 2. What are the markets in the UK and US going to think when they wake up to all this ?! Presumably there will be quite a few expletives flying around. Is there an expletives index ? Now wren, I'm quite fond of the bagpipes. But that vid is enough to put anyone off !!!! Please save your reputation and find a better one Link to comment Share on other sites More sharing options...
Steve Netwriter Posted March 17, 2008 Report Share Posted March 17, 2008 US losing confidence vote as investors flee Telegraph As feared, foreign bond holders have begun to exercise a collective vote of no confidence in the devaluation policies of the US government. The Federal Reserve faces a potential veto of its rescue measures. Asian, Mid East and European investors stood aside at last week's auction of 10-year US Treasury notes. "It was a disaster," said Ray Attrill from 4castweb. "We may be close to the point where the uglier consequences of benign neglect towards the currency are revealed." The share of foreign buyers ("indirect bidders") plummeted to 5.8pc, from an average 25pc over the last eight weeks. On the Richter Scale of unfolding dramas, this matches the death of Bear Stearns. . . As of June 2007, foreigners owned $6,007bn of long-term US debt. (Equal to 66pc of the entire US federal debt). The biggest holdings by country are, in billions: Japan (901), China (870), UK (475), Luxembourg (424), Cayman Islands (422), Belgium (369), Ireland (176), Germany (155), Switzerland (140), Bermuda (133), Netherlands (123), Korea (118), Russia (109), Taiwan (107), Canada (106), Brazil (103). Who is jumping ship? .... Japanese investors and foreign funds are having to close their yen "carry trade" positions. A chunk of the $1,400bn trade built up over six years has been viciously unwound in weeks. The harder the dollar falls, the further this must go. .... The race to the bottom must soon begin. Half the world will be slashing rates this year to stave off credit contraction. The dollar will have a lot of company. Small comfort. Link to comment Share on other sites More sharing options...
azazel Posted March 17, 2008 Report Share Posted March 17, 2008 Eak!! Wow !! What can I say except I'm glad I got some gold and silver. Welcome Harryharhar. Link to comment Share on other sites More sharing options...
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