Goldilocks Posted March 17, 2008 Report Share Posted March 17, 2008 As we go through the day... Gold chart # 1 ................... : Gold chart # 2 ................... : .. Looking like some rates cuts are going to be announced shortly in my opinion by the PPT , they have to smack gold down before they go on telly, or they would look foolish with precious metals soaring while they speak. Bill Murphy (Gata)explains the joke better. http://news.goldseek.com/LemetropoleCafe/1205697679.php I can hear President Bush on CNBC, speaking in New York, talking about our free markets in America. I want to throw up. He is now ranting about "freedom" flourishing. This time I did throw up. Link to comment Share on other sites More sharing options...
mongoose Posted March 17, 2008 Report Share Posted March 17, 2008 Ask yourself whether the fundamentals are still in place. If so, are you happy with the amount you have in it, or not? If yes, then keep it. I can assure you I just 'lost' quite a bit too. But I don't care, it will go higher at some stage. I am holding physical silver, and I am very happy with it. I am planning on buying more in the form of scrap coins. And thats the real beauty about holding physical - much harder to get shaken out and definitely no margin calls! Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted March 17, 2008 Report Share Posted March 17, 2008 Hmm guess i have missed the silver pull back do i continue to have patience in the hope that they will manage to contain the panick - or do i jump in. do i feel lucky can the powers continue to fool the masses given that easy credit is no longer available to counteract their fall in wealth good job i didn't feel lucky given what happened a few minutes later Link to comment Share on other sites More sharing options...
ologhai Posted March 17, 2008 Report Share Posted March 17, 2008 Do you like McDonald Big Macs? I do. So when I go into Mickey D's I don't run out when the are on sale - I thank them very much and buy two. Bad example: No, I don't like Big Macs, and them being in a sale wouldn't tempt me to buy twice as much of something I'm not going to eat! Silver on the other hand... Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 17, 2008 Author Report Share Posted March 17, 2008 Bloomberg is sorta kinda dead. Link to comment Share on other sites More sharing options...
El Dali Posted March 17, 2008 Report Share Posted March 17, 2008 Ask yourself whether the fundamentals are still in place. If so, are you happy with the amount you have in it, or not? If yes, then keep it. I can assure you I just 'lost' quite a bit too. But I don't care, it will go higher at some stage. I am holding physical silver, and I am very happy with it. I am planning on buying more in the form of scrap coins. You're quite right Goldfinger. Fundamentals for PMs are still so strong! I've have sold some of my Silver now though. I have wanted to get shift to gold more for a while Mainly because of Silvers 'straddling' status between 'money' and 'base metal commodity'. (held Silver in a big way since $13 so it's good, just wish i'd sold @ 08:00 this morning). I personally have more confidence in Gold from here onwards. And in gold juniors too... Opening a GoldMoney account asap..... Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 17, 2008 Author Report Share Posted March 17, 2008 http://www.bloomberg.com/apps/news?pid=206...&refer=home Lehman had its long-term credit rating affirmed at A1 by Moody's Investors Service earlier today. The rating company lowered its outlook on the company to stable from positive. ``Lehman has navigated quite well to date through persistently volatile and challenging financial markets,'' Moody's said in the statement. The outlook is no longer positive because the value of the firm's assets is declining and global liquidity is drying up, Moody's said. Good to know what Moody thinks. Link to comment Share on other sites More sharing options...
Gatesy Posted March 17, 2008 Report Share Posted March 17, 2008 The market at the moment has simply moved down to fill the gap created outside NY trading hours. Personally I can't see much more downside in the current environment, especially with a rate cut looming, and would expect quite a significant bounce. I could be wrong though, so don't bet the farm on it! I got over exuberent a couple of weeks ago buying silver "on strength" and got a little stung. This time around I'm keeping a keener eye on those moving averages. Silver hasn't closed more than 4% less than the 20DMA since Sep last year and more often than not bounces off of it. Right now the 20DMA is c.1986. The 20DMA is has given strong support in the last few months. I am looking for the price to close out on the moving average in the very near future. Of course the 20DMA is increasing c.11-12c per day at the moment.. Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 17, 2008 Author Report Share Posted March 17, 2008 You're quite right Goldfinger. Fundamentals for PMs are still so strong! I've have sold some of my Silver now though. I have wanted to get shift to gold more for a while Mainly because of Silvers 'straddling' status between 'money' and 'base metal commodity'. (held Silver in a big way since $13 so it's good, just wish i'd sold @ 08:00 this morning). I personally have more confidence in Gold from here onwards. And in gold juniors too... Opening a GoldMoney account asap..... Fair enough. I still hold my target for $25-$30 over the next few months. See also: http://gold.approximity.com/gold-silver_watch.html Link to comment Share on other sites More sharing options...
El Dali Posted March 17, 2008 Report Share Posted March 17, 2008 Fair enough. I still hold my target for $25-$30 over the next few months. See also: http://gold.approximity.com/gold-silver_watch.html Good link GF, Thanks Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 17, 2008 Author Report Share Posted March 17, 2008 Listen to the Jim Rogers interview on Bloomberg. My personal highlight: "The Federal Reserve is using taxpayer money to buy a bunch of Bear Stearns traders Maseratis." Spot on! EDIT: Towards the end he predicts that the Fed will fail, like the two first central banks of the US over 100 years ago have failed. Link to comment Share on other sites More sharing options...
goldenbee Posted March 17, 2008 Report Share Posted March 17, 2008 Anybody tried this yet? For an experiment have begun inviting my customers to pay me in gold or silver, no takers yet, no one has got any. kb Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 17, 2008 Author Report Share Posted March 17, 2008 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.... Few noticed last week that the Italian treasury auction was also a flop. The bids collapsed. For the first time since the launch of EMU, Italy failed to sell a full batch of state bonds. The euro blasted higher anyway, driven by hot money flows. The funds are beguiled by Germany's "Exportwunder", for now. It cannot last. The demented level of $1.57 will not be tolerated by French, Italian and Spanish politicians. The Latin property bubbles are deflating fast. http://www.telegraph.co.uk/money/main.jhtm...7/ccview117.xml Link to comment Share on other sites More sharing options...
chazza Posted March 17, 2008 Report Share Posted March 17, 2008 http://img215.imageshack.us/img215/9470/techfl5.gif The likely outcome of the S&P in the short term Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 17, 2008 Author Report Share Posted March 17, 2008 The Dow is up. Very good. ;) Link to comment Share on other sites More sharing options...
safebetter Posted March 17, 2008 Report Share Posted March 17, 2008 What a day - I was procrastinating @ 12 noon today as to whether to sell a bit and profit take, bottled it and now I'm kicking myself - a wee bit. Could be a dangerous habit to get into as it's difficult to predict which way it is going to swing and by how much. Holding tight is safer. Seems have stabilsed sideways right now. Read this earlier and it made me laugh: http://news.bbc.co.uk/1/hi/business/7284184.stm "Its price goes up and down just like other investments, but it does not tend to fluctuate as much as shares" - who are they kidding! Wonder if Heather Mills is going to have a punt on gold with her £24.3m? SafeBetter Link to comment Share on other sites More sharing options...
Pluto Posted March 17, 2008 Report Share Posted March 17, 2008 Gold and Silver bobbling around this morning. The shorts on the crimex piled in first thing only to get their paws burnt. It looks as though the second largest casino in the world, Canary Wharf, should be seeing a lot of folk looking for a new job soon. In London, where Bear employs 1,500 staff in the financial district of Canary Wharf, some employees were less willing to speak, only confirming that they worked for the bank. One Bear Stearns employee, when asked for a reaction snapped: "You must be joking. What are you, a vulture? Get a life." From which I would have replied - no you get a job. http://www.guardian.co.uk/feedarticle?id=7390866 Link to comment Share on other sites More sharing options...
ologhai Posted March 17, 2008 Report Share Posted March 17, 2008 What a day - I was procrastinating @ 12 noon today as to whether to sell a bit and profit take, bottled it and now I'm kicking myself - a wee bit. Could be a dangerous habit to get into as it's difficult to predict which way it is going to swing and by how much. Holding tight is safer. I'm sure all this price-watching is bad for the health! I'm more than half tempted simply to spend all the money in my PM Fund on gold and silver right now, and not look at another price chart for six months! Link to comment Share on other sites More sharing options...
Pluto Posted March 17, 2008 Report Share Posted March 17, 2008 I'm sure all this price-watching is bad for the health! Prozac helps. Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 17, 2008 Author Report Share Posted March 17, 2008 What we see in gold today is extremely bullish. First a gigantic upsurge, than a huge slam, but firm support at $1,000! And now a rebounce to over $1010.10 already. The Shorterz might have a hard time today. Link to comment Share on other sites More sharing options...
Pluto Posted March 17, 2008 Report Share Posted March 17, 2008 What we see in gold today is extremely bullish. First a gigantic upsurge, than a huge slam, but firm support at $1,000! And now a rebounce to over $1010.10 already. The Shorterz might have a hard time today. JPM rallying over 10% on being the groom at the Feds shotgun wedding at the weekend. Hopefully investors will use this honeymoon period to sell and get out of dodge before the next shootout. Link to comment Share on other sites More sharing options...
ologhai Posted March 17, 2008 Report Share Posted March 17, 2008 Silver seems to be bouncing back quite well... Wait a minute! What did I say about chart-watching! Link to comment Share on other sites More sharing options...
safebetter Posted March 17, 2008 Report Share Posted March 17, 2008 Perhaps I'm out of touch and have watched Wall Street with Gordon Ghekko too many times, but I kind of visualise in my minds eye all these guys furiously trading gold, profit taking just before lunch, copious amounts of champagne 12:00 - 14:00 and then back in the office to the day to take advantage of the smackdown they created!! Would be fascinating to see what really happens. BTW did any of you see that Warren Buffett still only draws a $100k salary from Berkshire Hathaway. I suppose when you are accumalating 26% pa annual on a cool $1bn then $100k is pocket change. Anyone here know why he came out of silver before this bull run in commodities? SafeBetter Link to comment Share on other sites More sharing options...
whoops_apocalypse Posted March 17, 2008 Report Share Posted March 17, 2008 (from advfn's gold thread): yikyak - 17 Mar'08 - 12:33 - 36441 I'm hearing rumours that Hong Kong could be un-pegging it's currency from the US$, anyone know anything? If true this is HUUUUUUUUUUUGE news. Do hope so and it's about time too IMO... Anyone here know why he came out of silver before this bull run in commodities? SafeBetter Some say that he was leant on in no uncertain terms by the powers that be for attempting to emulate the Hunt brothers - just rumours probably... Link to comment Share on other sites More sharing options...
warpig Posted March 17, 2008 Report Share Posted March 17, 2008 Why is the DOW up? Have they bought the news that nationalising the Bear Stearns debt is a good thing? Link to comment Share on other sites More sharing options...
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