GOLD

[grumpy-old-man]

GM.

 

well my opinion is that the scramble for physical is well under way, although it may not appear like a scramble to most.

 

I think after the scramble is over then the physical market disconnects from the paper one.......

 

I would imagine the same goes for silver also ?

[drbubb]

Gold - just shot up $15

I just woke up here in HK to see Gold has shot up to $1153, maybe higher

Charting the rise : HK$877 /7.76= US$113.02 x10.21 = US$1153.9 (factor:10.21/7.76= 1.315)

 

HK-2840 /HK Gold etf ... update : 10d.Chart

 

High: hk$932.00 (Gold-US$1,225.6 at x1.315)

Low : hk$824.00 ($1,083.6)

Chg : hk$112.00 ($ 142)

HOD hk$ 879.50 ($1,156.5) / +55.5 / as %: 49.6% retracement

 

A 50% retracement would be a logical stopping point

[grumpy-old-man]

I'm not really a short term trader. If I trade currencies, it is mostly very infrequently and on the big moves [still to come].

 

My record has been pretty good so far with currencies:

 

Bought gold and silver when they were cheaper.

Bought Yen when it was cheaper [subsequently swapped for dollars].

Bought US dollars at the bottom.

 

If we get one last wave up here in the markets, we could see the gold/silver ratio nearing 50 [now 61] at which point I'd trade my silver for gold, considering profits taken.

 

you seem to be in the Bubb 'never made a bad trade' school RH.

 

anyway, swampy would like to ask you a few questions & point out a few things:

 

 

• could you post your GM profit/losses since he opened his account with GM - it will all be on record
• currencies on deposit with GM have no fdic or UK insurance in case of loss if the holding bank goes under
• it costs several percentage points to do physical metal trades at GM, especially with silver
• if there is a black swan, inevitable, he will be left with no position
• having paper money with GM is NOT the same as holding physical in a safe on your own property
• and you are also living right next door to a war zone

 

 

 

[romans holiday]

you seem to be in the Bubb 'never made a bad trade' school RH.

 

anyway, swampy would like to ask you a few questions & point out a few things:

 

 

• could you post your GM profit/losses since he opened his account with GM - it will all be on record
• currencies on deposit with GM have no fdic or UK insurance in case of loss if the holding bank goes under
• it costs several percentage points to do physical metal trades at GM, especially with silver
• if there is a black swan, inevitable, he will be left with no position
• having paper money with GM is NOT the same as holding physical in a safe on your own property
• and you are also living right next door to a war zone

Nah, you could say I made one bad trade. I sold some silver [10% of position] at around $14 when I thought the price was going down in the immediate term [since then changed tactics to only trade the BIG move/ dip... ignoring immediate/ short term price movements]. I did not mind that trade too much as was also wanting to raise cash and bought Yen which strengthened nicely afterwards [once I had raised more cash, bought the silver position back with Yen, at maybe a "loss" of a dollar or two....on the silver price... if I hadn't made that trade]. The bulk of my silver was bought at around $12/13. But I do not want to stay in silver long term as I consider the market to vulnerable. Ideally, I'll swap to gold on a a favorable ratio, which was my plan when buying silver in the first place.

 

As for what is pointed out above... yes, quite aware of that information, as for the request, such impertinence.

 

Edit: I have the compulsory physical stashed at home should the apocalypse come.

 

Edited.

[grumpy-old-man]

Nah, you could say I made one bad trade. I sold some silver [10% of position] at around $14 when I thought the price was going down in the immediate term [since then changed tactics to only trade the BIG move/ dip... ignoring immediate/ short term price movements]. I did not mind that trade too much as was also wanting to raise cash and bought Yen which strengthened nicely afterwards [once I had raised more cash, bought the silver position back with Yen, at maybe a "loss" of a dollar or two if I hadn't made that trade]. The bulk of my silver was bought at around $12/13. But I do not want to stay in silver long term as I consider the market to vulnerable. Ideally, I'll swap to gold on a a favorable ratio, which was my plan when buying silver in the first place.

 

As for what is pointed out above... yes, quite aware of that information, as for the request, such impertinence.

 

Edit: I have the compulsory physical stashed at home should the apocalypse come.

 

yes I saw Double Agent caught you out pointed that out.

 

so just the one bad trade then, probably a better record than the majority of professional currency traders.

 

edited - mind you I see that one bad trade turned into a YEN money spinner for you, costing you just a $1 or $2 loss then........

[romans holiday]

yes I saw Double Agent caught you out pointed that out.

 

so just the one bad trade then, probably a better record than the majority of professional currency traders.

Yeah, probably because I am more of a hedger than a trader.

[grumpy-old-man]

Yeah, because I consider myself more a hedger than a trader.

 

yes, the word we had in mind also ended in an 'r'

[romans holiday]

yes, the word we had in mind also ended in an 'r'

What are "we" insinuating?

 

As if impertinence wasn't enough.

[grumpy-old-man]

What are you insinuating?

 

I was always a very hard person to 'lead' anywhere.

 

Bob's here if you need some help:

[signofthetimes]

isn't it time for a january thread? this one is so 2009

[G0ldfinger]

isn't it time for a january thread? this one is so 2009

And what again is the advantage of monthly threads? That they sink into oblivion after the month has gone by?

[sylvester]

isn't it time for a january thread? this one is so 2009

 

And as if by magic...the thread appears...

 

Last page in Decembers thread:

http://www.greenenergyinvestors.com/index....0&start=320

[sylvester]

Please use the new thread as I send this one to oblivion (which I hear can be very nice this time of the year).

 

January 2010 Gold Thread

 

[The Mad Hatter]

So Gold has shot back up again in the last few days (although not quite to the same sterling highs) and there's hardly any discussion of recent movements on here. Are we getting a bit blase?

 

 

 

[InternationalRockSuperstar]

I recently bought some silver half expecting one last wave up here [even though I expect gold to revisit 900 handle at later date] . Nice little profit on this trade so far.

 

yes, I have noticed your habit of delaying annoucements of your alleged bullion purchases until after it has already increased in price.

 

yes I saw Double Agent caught you out pointed that out.

 

yes I saw that too.

 

My record has been pretty good so far with currencies:

 

is it?

 

• could you post your GM profit/losses since he opened his account with GM - it will all be on record

 

In a deflation, what is good for the economy is "bad" for the currency, and vice-versa.

 

nope.

 

imposed currencies are always bad for an economy. ALWAYS.

 

hey IRS,

 

it's like watching financial car crash tv stuff in super sloooooooooooooooow motion isn't it.

 

well that's why CBs have chosen inflation rather than deflation. if they let the banks fail in 2007 then it would all have been over very quickly - but then of course JP Morgan wouldn't have been annnoucing record bonuses yesterday.

 

 

 

 

 

 

 

[fitkid]

GM.

 

[fitkid]

What are "we" insinuating?

 

As if impertinence wasn't enough.

 

[romans holiday]

I recently bought some silver half expecting one last wave up here [even though I expect gold to revisit 900 handle at later date] . Nice little profit on this trade so far.

 

 

yes, I have noticed your habit of delaying annoucements of your alleged bullion purchases until after it has already increased in price.

 

 

Have lightened up on a little Yen for silver. Not a bad price here as Yen has kept relatively strong to silver when compared to the dollar. It was interesting to hear Hoye [on FBB] mention he thought there could be another wave up in gold and silver here. And then followed on by a very strong message of deflation by Barbara [the barbarian ] stating all markets were heading down. The price here could go either way and though "averaging in" a little here, with a work bonus on the way, I will also keep a solid dollar holding, besides some Yen.

 

No delayed announcement at all. Here it is dated on Dec 16th.

 

Here's another even earlier post: http://www.greenenergyinvestors.com/index....st&p=145531

 

Can we please observe a civil discourse people? If you disagree with another's outlook on gold/silver that is fine, but it is poor form to accuse or insinuate others of being deceptive or dishonest. I have always openly posted my thoughts and transactions on this site. Discuss the ideas not the person.

 

 

 

 

 

 

I recently swapped my remaining Yen to US dollars [the post is there, Bubb's diary, if you don't believe me ] where I will keep most of my cash reserve. Reserved to buy silver at better prices. My silver is also reserved, reserved to buy gold at a better ratio. The first could well follow the second.

[drbubb]

So Gold has shot back up again in the last few days (although not quite to the same sterling highs) and there's hardly any discussion of recent movements on here. Are we getting a bit blase?

Retraced back to 50% of drop, and then a bit higher.

It is beginning to give back the gain.

 

Watching from HK:

Charting the rise : HK$877 /7.76= US$113.02 x10.21 = US$1153.9 (factor:10.21/7.76= 1.315)

 

HK-2840 /HK Gold etf ... update : 10d.Chart

 

High: hk$932.00 (Gold-US$1,225.6 at x1.315)

Low : hk$824.00 ($1,083.6)

Chg : hk$112.00 ($ 142)

HOD hk$ 879.50 ($1,156.5) / +55.5 / as %: 49.6% retracement

 

A 50% retracement would be a logical stopping point

 

Daily chart ( here ) is holding at the Upper Bolly limit, and not falling back inside.

If it can do that all day, I would take it as a bullish sign

[grumpy-old-man]

seeing as how the previous topic discussing this has been locked so I can't post anything further...............

 

 

 

 

I have always openly posted my thoughts and transactions on this site.

 

 

so RH, could you post your GM profit/losses since you opened your account with GM - it will all be on record ??

 

I asked this for swampy yesterday but didn't get a reply back from you?

 

 

 

[romans holiday]

seeing as how the previous topic discussing this has been locked so I can't post anything further...............

 

so RH, could you post your GM profit/losses since you opened your account with GM - it will all be on record ??

 

I asked this for swampy yesterday but didn't get a reply back from you?

To ask me to post a record of my own personal and private bank account is highly unusual, and frankly quite an astonishingly ignorant request.

 

You have a record of all my posts, in real time, discussing percentages, positions and strategies here.

 

Anyone would think you were only here to bait and troll.... after earlier deciding you didn't want to post here anymore.

[Vedantafxtrader]

seeing as how the previous topic discussing this has been locked so I can't post anything further...............

 

 

 

 

 

 

 

so RH, could you post your GM profit/losses since you opened your account with GM - it will all be on record ??

 

I asked this for swampy yesterday but didn't get a reply back from you?

 

 

Seems of poor class and taste to be asking people to post details of their financial worth on an internet forum. Enjoy what money you have, rather than worrying how much someone else has. It will not make any difference to your life how much money some has or does not have.

[grumpy-old-man]

[grumpy-old-man]

To ask me to post a record of my own personal and private bank account is highly unusual, and frankly quite an astonishingly ignorant request.

 

You have a record of all my posts, in real time, discussing percentages, positions and strategies here.

 

Anyone would think you were only here to bait and troll.... after earlier deciding you didn't want to post here anymore.

 

 

you can post your GM trades very easy without showing ANY personal info, it will detail ONLY the trades & dates/times.

[grumpy-old-man]

Seems of poor class and taste to be asking people to post details of their financial worth on an internet forum. Enjoy what money you have, rather than worrying how much someone else has. It will not make any difference to your life how much money some has or does not have.

 

it's not the worth that bothers me, it's the truth.

 

RH has only ever made one bad trade...apparently, even then he only lost $1-$2

The best of propfessional traders would be happy with that record.