Gold Bulls - "Clawing the Sky" as prices fall

[bobbyald141]

The problem I have with stops is that you are showing your hand.

In what other form of competition does it pay to tell your opponents what you will do in advance?

 

Sure sometimes it pays but sometimes a broker gets the opportunity to take out your stops and then return the price to what it was before.

I've heard a number of people complain about this kind of manipulation with the juniors.

 

 

 

 

 

 

[bobbyald141]

Bubb is sounding more and more like the weather forecaster might rain,could be sunny, maybe some fog oh and potentially some sleet and snow.

 

WHAT A CALL !!!!!

 

THE oRACLE oF DELPHI RETURNS not to Greece but GEI.

 

 

Arn't we all just guessing here?

 

 

[InternationalRockSuperstar]

BUBB please put the original title back in as its just cheating if you contually change history to suit yourself.

 

may I request we change the title again from its current Gold Bulls - "Clawing the Sky" to Central Banksters "Looking like F***wits"?

[Pixel8r]

may I request we change the title again from its current Gold Bulls - "Clawing the Sky" to Central Banksters "Looking like F***wits"?

I thought we could start a new thread soon called "Paper Bugs - Drowning in Liquidity"

[Pixel8r]

I'd LOVE to have a photo of Jim Sinclair when someone interrupted his Turkey feast to tell him

that Gold was trading under $1,150.

 

I think I might read his blog today, to see what he has to say.

Here you go...

 

Dear CIGAs,

 

Today’s attack on gold and buying of the dollar was like a recent polar bear attack on a tourist in Churchill, Canada’s far north.

 

 

[Pixel8r]

DrBubb, what you have to realise is daily swings are just noise to people who have made the decision to swap their fiat to gold. This is but a temporary pullback, within a week we will be setting new highs again. I wouldn't be surprised at all if this mornings takedown was completely bought back by this afternoon, with all the shorts using the opportunity to cover.

 

Wow. That would be something.

Smacks of wishful thinking to me. But it could happen, if somehow the dollar starts sliding again.

But I dont think so.

 

Many stops will get cleaned out on stocks and metals today. Then we shall see.

 

$1176.70 is close enough for me to feel right in what I was saying would happen. Does this evenings action justify a WOW from you DrB, or do you still think it was just wishful thinking?

 

 

[romans holiday]

Reading through this thread I'm surprised at the amount of disrespectful posts directed at Bubb. Keep in mind folks this is his site. If you frequent this site often then you obviously are getting something of benefit... to be rude to Bubb then is effectively "biting/ clawing the hand that feeds you".

 

Frankly, I'm amazed at the the lack of even the most rudimentary of manners shown here at times. The only answer I can find for it, besides being an internet phenomenon, is that those who believe in a "state of nature" as superior to society think they can dispense with all the artificial conventions and niceties of society. Nature is what is important when it comes to life, and economics and politics needs to be purged of the artificial interfering contrivances of all forms of governance. This purge of the social dimension also then applies to all forms of social discourse including, especially, the internet.... being a purely "rational" space.

 

But what is this rationalized view of "nature" but some abstraction. At the beginning of the modern era, Thomas Hobbes saw nature for what it was and refused to be deluded with imaginary ideals of the noble savage. In a state of nature, "life is solitary, poor, nasty, brutish and short". Change short to short-tempered and you pretty much have the mindset of some here.

 

And then tribes form... you either belong to the tribe or you don't. Tolerance of difference, rational discussion, and the very ideal of reason, breaks down all together.. so much for modernity a.

[anciom]

Reading through this thread I'm surprised at the amount of disrespectful posts directed at Bubb. Keep in mind folks this is his site. If you frequent this site often then you obviously are getting something of benefit... to be rude to Bubb then is effectively "biting the hand that feeds you".

 

Frankly, I'm amazed at the the lack of even the most rudimentary of manners shown here at times. The only answer I can find for it, besides being an internet phenomenon, is that those who believe in a "state of nature" as superior to society think they can dispense with all the artificial conventions and niceties of society. Nature is what is important when it comes to life, and economics and politics needs to be purged of the artificial interfering contrivances of all forms of government.

 

But what is nature but some abstraction. At the beginning of the modern era, Thomas Hobbes saw nature for what it was and refused to be deluded about imaginary ideals of the noble savage. In a state of nature, "the life of man is solitary, poor, nasty, brutish and short". Change short to short-tempered and you pretty much have the mindset of some here.

 

totally. it always bounces back. its too big to be caged now. paper is looking too fragile and dangerous. its tainted.

i dont think gold can be stopped now. its the only store of wealth that makes sense.

 

the other big laugh is people that say 'you cant eat gold' but then you cant eat £5 notes either.

the only arguments against gold are utterly childish.

 

like housing bulls dying arguments in 05.

new paradigm. etc etc.

[drbubb]

$1176.70 is close enough for me to feel right in what I was saying would happen. Does this evenings action justify a WOW from you DrB, or do you still think it was just wishful thinking?

 

 

Not at all.

I posted somewhere when it was about $1145, that I expected a bounce to $1165-1175

 

This is nothing more than gap-filling - the same thing happened with the Dollar.

(Perhaps The pros were selling to the followers of the Pied Piper.)

 

Dont forget, the Friday after Thanksgiving is one of the "most bullish" days of the year.

The stock market managed a minor bounceback from opening lows, and then slid again.

and Gold filled its gap down. So what?

 

The real test for stocks and gold comes next week.

[Pluto]

Not at all.

I posted somewhere when it was about $1145, that I expected a bounce to $1165-1175

 

This is nothing more than gap-filling - the same thing happened with the Dollar.

(Perhaps The pros were selling to the followers of the Pied Piper.)

 

Dont forget, the Friday after Thanksgiving is one of the "most bullish" days of the year.

The stock market managed a minor bounceback from opening lows, and then slid again.

and Gold filled its gap down. So what?

 

The real test for stocks and gold comes next week.

 

Yes, this is true. A lot of pro traders are off and don't come back until Monday. The retail trader mostly takes long positions, and they are the ones playing the market over the hols.

[Errol]

I really can't believe this thread. We get a $50 drop in gold and it sparks off a day long, rambling discussion . I hate to think what the commotion will be like when gold is $2000-3000+ and we are getting $100 drops/rises in a day/hour.

 

Anyone trading gold is a lunatic (or highly skilled with lots of money to lose). Do yourself a favour. Don't trade gold.

 

Buy physical.

 

Gold is going to $5000+. There will be massive corrections along the way. Ignore them. They are noise and ultimately irrelevant.

[Errol]

It's "All about the Dollar", it seems to me...

 

Yes, it is. Sinclair agrees with you. The dollar index is going to 52 or lower.

 

And as for what Sinclair's reaction would be to yesterday's fall, I imagine it would be rather like mine (as someone who's been in gold since 2000 and seen worse) - complete apathy. Sinclair wouldn't bat an eyelid. I didn't.

 

 

[grumpy-old-man]

Bubb is sounding more and more like the weather forecaster might rain,could be sunny, maybe some fog oh and potentially some sleet and snow.

 

WHAT A CALL !!!!!

 

THE oRACLE oF DELPHI RETURNS not to Greece but GEI.

 

that pic cracked me up tbh. :lol:

 

 

 

gold ends down 1.76% i'll climb back off the ledge

 

a good bit of dry humour always works a treat

[drbubb]

You appear to have a personal vendetta against Mr. Sinclair?

If I didn't know different I'd say you remind me of someone who is short gold. Or perhaps Realist Bear on HPC.

 

I'm not short gold, but the "true believer" attitude of many towards the yellow metal is getting me tempted to go short

 

I have seen this before, back in Q1.2007.

"Mr.Gold" (JS) may be to Gold, what Jim Dines was for the Uranium market...

 

in the most recent version of CW-Radio, Jim Dines says that we have years to go in this Uranium boom.

And when Dominic says there needs to be a correction, he says,

"Why? This is the biggest market opportunity he has ever seen", and before it is done it

"Will be bigger than the internet"

 

I disagree. The parabolic move that we are seeing now, will need some sort of multi-month correction,

before it moves higher. But it need not start tomorrow, the current rally may have some weeks to go,

but correct it will

 

But what do I know?- Dines is the legend. But he is also very heavily invested.

 

/see: http://www.greenenergyinvestors.com/index.php?showtopic=1377

 

(there's another thread somewhere else on Uranium, where GEI members bullishness is even more apparent.)

[allyjcambo]

I'm not short gold, but the "true believer" attitude of many towards the yellow metal is getting me tempted to go short

 

I have seen this before, back in Q1.2007.

"Mr.Gold" (JS) may be to Gold, what Jim Dines was for the Uranium market...

 

 

 

/see: http://www.greenenergyinvestors.com/index.php?showtopic=1377

 

(there's another thread somewhere else on Uranium, where GEI members bullishness is even more apparent.)

 

I remember that interview well, Bubb. It was one of the first CWRs I'd ever heard and I was blown away by his bullishness. Immediately after I bought some uranium stocks and did very well for 6 months or so. Because you were saying something different and because I was unfamiliar with you I chose to ignore your calls. How wrong I was. I don't know much about Sinclair but from what I do he does seem very like Dines. These guys are seriously dangerous (esp to an inexperienced investor). It's not so much what they say but the way they say it. They speak with complete certainty and conviction. Anybody who disagrees with them, simply 'doesn't get it'.

 

To be fair, I think those who follow JS on here do a huge amount of independent reading and thinking for themselves. I also do not think gold will get 'smashed' the way uranium has been.

[Errol]

I'm not short gold, but the "true believer" attitude of many towards the yellow metal is getting me tempted to go short

 

I've no problem with this (unlike some). If you have lots of money to play with and are a skilled trader (which as far as I can tell you are) there is money to made. Gold has seen plenty of huge falls along the way and now seems like a fairly good time for one (given how far we've come!).

 

The gold trading market is not the place for non-professionals though or people who can't lose money. I would say that you - Dr.Bubb - fall into the Professional category and therefore are probably better positioned to trade.

 

My senses tell me a fall is overdue - it always falls once people start talking about it too much (in the media). I've seen it all before. The weak holders panic, as they always do. The only difficulty I can see in this analysis now is that China/Russia/India et al appear to have entered the game and are buying PHYSICAL in large quantities. This may be game changer. Comex is also in danger of being overwhelmed -

 

December open interest is 44,366 contracts. This represents 4.4 million ounces vs. the 2 million "eligible" -available for delivery - ounces of gold in today's Comex inventory report. Anyone holding a long position had to be ready for a delivery notice on Monday, meaning their futures account has to be fully funded and ready to pay for delivery as of Monday. It remains to be seen how this will play out over the month of the December. Technically, last "notice to deliver/delivery" day is 12/31. I have yet to understand how the delivery notices are assigned (i.e. notices can be assigned anytime from Monday to 12/31), and unassigned contracts can be sold up to 12/30 or tender for cash, but if every single one of those 44,366 contracts has the intent of taking physical delivery, the Comex has a problem.

[jinbal]

I've no problem with this (unlike some). If you have lots of money to play with and are a skilled trader (which as far as I can tell you are) there is money to made. Gold has seen plenty of huge falls along the way and now seems like a fairly good time for one (given how far we've come!).

 

The gold trading market is not the place for non-professionals though or people who can't lose money. I would say that you - Dr.Bubb - fall into the Professional category and therefore are probably better positioned to trade.

 

My senses tell me a fall is overdue - it always falls once people start talking about it too much (in the media). I've seen it all before. The weak holders panic, as they always do. The only difficulty I can see in this analysis now is that China/Russia/India et al appear to have entered the game and are buying PHYSICAL in large quantities. This may be game changer. Comex is also in danger of being overwhelmed -

 

December open interest is 44,366 contracts. This represents 4.4 million ounces vs. the 2 million "eligible" -available for delivery - ounces of gold in today's Comex inventory report. Anyone holding a long position had to be ready for a delivery notice on Monday, meaning their futures account has to be fully funded and ready to pay for delivery as of Monday. It remains to be seen how this will play out over the month of the December. Technically, last "notice to deliver/delivery" day is 12/31. I have yet to understand how the delivery notices are assigned (i.e. notices can be assigned anytime from Monday to 12/31), and unassigned contracts can be sold up to 12/30 or tender for cash, but if every single one of those 44,366 contracts has the intent of taking physical delivery, the Comex has a problem.

 

Quite agree

 

I think there's quite a bit of space on the chart that needs backing and filling to come back to the more snesible MT/LT trend.

 

So although I would say Im a Gold Bull, I'm st/mt bearish and am looking for a good correction i.e a retest of the breakout.

[G0ldfinger]

Bubb, I just don't get how you can say that gold is overvalued given that you KNOW and understand the following four charts.

 

I can only conclude that you mean this statement on a very short term horizon, so as a long term investor, I will simply ignore it.

 

[Methinkshe]

Bubb, I just don't get how you can say that gold is overvalued given that you KNOW and understand the following four charts.

 

I can only conclude that you mean this statement on a very short term horizon, so as a long term investor, I will simply ignore it.

 

Far be it from me to claim any expertise whatsoever in the world of finance and currencies (gold or fiat based) but I do detect here an unhealthy reliance on historical trends and linear projections.

 

Our present global financial system, as I observe it, is in chaotic times and linear projections simply will not work.

 

There is a multitude of possible outcomes (chaotic, if you like) which seems to me to render linear expectations about as misguided as projecting circa 1910 an historically based linear trend for the number of horses and carriages and associated trades required 50 years distant.

[drbubb]

Bubb, I just don't get how you can say that gold is overvalued given that you KNOW and understand the following four charts.

 

I can only conclude that you mean this statement on a very short term horizon, so as a long term investor, I will simply ignore it.

 

I love your charts, GF. Please keep producing them.

Of course, you could draw them a little differently, if you can explain "the aberration":

 

What happens if you draw them with Uranium or Oil or Copper?

[G0ldfinger]

I love your charts, GF. Please keep producing them.

Of course, you could draw them a little differently, if you can explain "the aberration":

 

What happens if you draw them with Uranium or Oil or Copper?

Very nice alternative of this chart.

 

Uranium and Copper - I don't have charts on them, surely they're out there somewhere. I don't think gold is the cheapest thing around - there is stuff that is even cheaper, take only silver. As for uranium and copper, maybe they're cheaper too. I don't really follow them. My point is simply that gold is not expensive here. Corrections always come somewhen somewhere. Will it change the trend? I don't think so.

[fitkid]

Not at all.

I posted somewhere when it was about $1145, that I expected a bounce to $1165-1175

This is nothing more than gap-filling - the same thing happened with the Dollar.

(Perhaps The pros were selling to the followers of the Pied Piper.)

 

Dont forget, the Friday after Thanksgiving is one of the "most bullish" days of the year.

The stock market managed a minor bounceback from opening lows, and then slid again.

and Gold filled its gap down. So what?

 

The real test for stocks and gold comes next week.

 

Bubb you did make that post that is correct it is also a fact confirmable by anyone who looks through this thread that just about every possible play out was also mentioned that is hardly making a call,that is covering all bases.

 

This is an oppurtunity right here to make a single call that can be judged on next week.What is your call on that for stocks and Gold.??As you call it THE REAL TEST.!!

[fitkid]

Reading through this thread I'm surprised at the amount of disrespectful posts directed at Bubb. Keep in mind folks this is his site. If you frequent this site often then you obviously are getting something of benefit... to be rude to Bubb then is effectively "biting/ clawing the hand that feeds you".

 

Frankly, I'm amazed at the the lack of even the most rudimentary of manners shown here at times. The only answer I can find for it, besides being an internet phenomenon, is that those who believe in a "state of nature" as superior to society think they can dispense with all the artificial conventions and niceties of society. Nature is what is important when it comes to life, and economics and politics needs to be purged of the artificial interfering contrivances of all forms of governance. This purge of the social dimension also then applies to all forms of social discourse including, especially, the internet.... being a purely "rational" space.

 

But what is this rationalized view of "nature" but some abstraction. At the beginning of the modern era, Thomas Hobbes saw nature for what it was and refused to be deluded with imaginary ideals of the noble savage. In a state of nature, "life is solitary, poor, nasty, brutish and short". Change short to short-tempered and you pretty much have the mindset of some here.

 

And then tribes form... you either belong to the tribe or you don't. Tolerance of difference, rational discussion, and the very ideal of reason, breaks down all together.. so much for modernity a.

This is a public Forum not Bubbs house.I dont think any posts were disrespectful at all just good exchanges and some humour.Bubb also gets things from the forum like feedback from others thoughts and ideas about positions strategies etc it is not a one way exchange.

 

 

[fitkid]

Arn't we all just guessing here?

 

Yeah but some alot more than others with much more risk!!

[fitkid]

I'm not short gold, but the "true believer" attitude of many towards the yellow metal is getting me tempted to go shortI have seen this before, back in Q1.2007.

"Mr.Gold" (JS) may be to Gold, what Jim Dines was for the Uranium market...

 

 

 

/see: http://www.greenenergyinvestors.com/index.php?showtopic=1377

 

(there's another thread somewhere else on Uranium, where GEI members bullishness is even more apparent.)

 

Bubb that seems an unproffessional way to take a position.

I say Short the hell out of it have a real party i dont think many on here would give a