People are sentimental, markets are not

[Jim Nickerson]

Re: People are sentimental, markets are not

Will the $USD get past $80?
Will oil hit $80 ?
Will Euro hit 1.3920 ?
Will SP500 hit 1380 ?

These are all turing zones that will confirm previous global trends continue, and Gold is one of them.

Ed says correctly that gold rallies on crises news. Well this (link) is the next crisis, time this some how, and you will have your entry point. But like Ed says, if you cant time, just buy.

Next crisis: http://www.youtube.com/watch?v=pmeBSWI9sF8 ALT A mess

Question: Can any one tell me which bank has the largest exposure to this junk ?

US$ probably will hit 80 in the next weeks to months.

Oil won't hit $80 in anyone's lifetime.

For $XEU to get to 137 isn't unreasonable.

SPX will hit 1200 before it ever visits 1380.

These are my bets.

[phirang]

Re: People are sentimental, markets are not

In other news, China, India, Russia, and the Gulf States continue to buy-up Africa, South America, South-East Asia, and build and own infrastructure therein.

I bet copper won't go under $2.75/lb by end of 2008.

I bet steel will remain tight.

[Mega]

Re: People are sentimental, markets are not

In a Nut shell:-
Gold had a great run, its likely to enjoy a GREATER run, but you might get a short term fall. I think you guys MUST look at all the "Fiat" thats got to be printed World wide..........Gold IS only going one way.
Mike

[Guest]

Re: People are sentimental, markets are not

I read last weekend that Frank Holmes of US GLOBAL INVESTORS says they are projecting copper to be a triple (300%) in the next four to five years. Apparently nobody told these guys there's supposed to be a global recession on, or maybe it's just copper ... doesn't want to know about that.

[jtabeb]

Re: People are sentimental, markets are not

If gold gets to $780, that will be something else... because $780 is just about the marginal cost of production at this point. Spot silver is arguably under
its marginal cost of production (in the $17s).

I am buying!

Gold always punishes me before moving up to greater highs. Par for the course and I'm getting punished right now (silver too), can't wait for the next six months to go by

My TCC (treasure chest count) is way WAY up however.

[metalman]

Re: People are sentimental, markets are not

Gold always punishes me before moving up to greater highs. Par for the course and I'm getting punished right now (silver too), can't wait for the next six months to go by

My TCC (treasure chest count) is way WAY up however.

there goes gold. under $800...



if it doesn't stop near $780 as itulip estimates, i'll shit a brick.

[Jim Nickerson]

Re: People are sentimental, markets are not

there goes gold. under $800...



if it doesn't stop near $780 as itulip estimates, i'll shit a brick.

Perhaps you could get someone to photograph your doing that and then you could post it wherever people post pictures here. Will you please PM me the link so that I can see you in action.

[sadsack]

Re: People are sentimental, markets are not

Gold always punishes me before moving up to greater highs. Par for the course and I'm getting punished right now (silver too), can't wait for the next six months to go by

My TCC (treasure chest count) is way WAY up however.

As Bubba was wont to say, "I feel your pain . . ."

The only way I've found to assuage it is to buy more at cheaper prices - after all, Au/Ag and oil are now officially "On Sale" . . .

[sadsack]

Re: People are sentimental, markets are not

Perhaps you could get someone to photograph your doing that and then you could post it wherever people post pictures here. Will you please PM me the link so that I can see you in action.

This is disturbingly reminiscent of one of Der Feuhrer's fetishes . . . something about women, scat, and a glass table . . . :eek: :p

Then again, in the case of Metalman, perhaps the "issue" would be PM?

I'll only address the the "goldbricking" pun in "passing" (sorry) . . .

[jtabeb]

Re: People are sentimental, markets are not

As Bubba was wont to say, "I feel your pain . . ."

The only way I've found to assuage it is to buy more at cheaper prices - after all, Au/Ag and oil are now officially "On Sale" . . .

I'm trying to buy every $30 gold price drop and every $2 silver price drop. Only $15K more to go then I'm all in till next year

1-2 ounces AU & 100 ounces AG at a shot.

[ronin]

Re: People are sentimental, markets are not

i'm going to try to use "the small trade in the big trade" theory this time... use etf gld. i'll wait until $810, don't know if i have the guts to wait for gold to go under $800, and as you say there's a good chance it won't.

For those with the option, buying ETFs in an IRA brokerage account takes away (or at least defers) the tax hit. It is an obvious move to try to hold the tax disadvantaged investments (precious metals) in a tax advantaged account (IRA). I don't remember seeing this highlighted elsewhere, and wanted to mention it.

It seems that SLV might also be a consideration for the 'small trade'.
As of the 8/14 close, SLV is 32% off its 52 week high, while GLD was 21% off its 52 week high.
Silver is down an additional $1 tonight.
--Ronin

[metalman]

Re: People are sentimental, markets are not

For those with the option, buying ETFs in an IRA brokerage account takes away (or at least defers) the tax hit. It is an obvious move to try to hold the tax disadvantaged investments (precious metals) in a tax advantaged account (IRA). I don't remember seeing this highlighted elsewhere, and wanted to mention it.

It seems that SLV might also be a consideration for the 'small trade'.
As of the 8/14 close, SLV is 32% off its 52 week high, while GLD was 21% off its 52 week high.
Silver is down an additional $1 tonight.
--Ronin

"small" trade's getting big... gold under $779.50!

[jtabeb]

Re: People are sentimental, markets are not

there goes gold. under $800...



if it doesn't stop near $780 as itulip estimates, i'll shit a brick.

SPOT MARKET IS OPEN closes in 6 hrs. 28 mins.
Aug 15, 2008 10:48 NY Time
Bid/Ask	786.80	-	788.00
Low/High	774.90	-	800.70
Change	-18.90		-2.35%
30daychg	-172.50		-17.98%
1yearchg	+117.90		+17.63%

I think it's brick-shitting time:eek:

[metalman]

Re: People are sentimental, markets are not

SPOT MARKET IS OPEN closes in 6 hrs. 28 mins.
Aug 15, 2008 10:48 NY Time
Bid/Ask	786.80	-	788.00
Low/High	774.90	-	800.70
Change	-18.90		-2.35%
30daychg	-172.50		-17.98%
1yearchg	+117.90		+17.63%

I think it's brick-shitting time:eek:

but it did stop near $780, so far...

[Andreuccio]

Re: People are sentimental, markets are not

US$ probably will hit 80 in the next weeks to months.

Oil won't hit $80 in anyone's lifetime.

For $XEU to get to 137 isn't unreasonable.

SPX will hit 1200 before it ever visits 1380.

These are my bets.

As an example of people being sentimental:

HAPPY BIRTHDAY, JIM!!!!!