Gold getting KILLED!!!!

[thriftyandboringinohio]

Re: Gold getting KILLED!!!!!

how are you getting oil exposure?

Swimming off the coast of Louisiana:p

[LargoWinch]

Re: Gold getting KILLED!!!!!

be under $900 very soon.
Mike

Mega; the contrarian indicator? ;)

[cjppjc]

Re: Gold getting KILLED!!!!!

My hunch is that short-term, Gold and PMs are overbought, while Oil in the low 70s is the better play.

I am also looking at Agriculture such as DBA closely...

DBA has been a dog. I don't follow agricultural commodities at all so I don't know if DBA is underperforming or what. I still thank *T* for warning me off the SRS dog.

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[charliebrown]

Re: Gold getting KILLED!!!!!

don't exactly know. Just about everything is futures based and since oil is in contango you will have time decay costs. I have heard, that DBO has more latitude on rolling its contracts than USO so less time decay vs. USO. Over the last year that seems to be true, if you compare the chart of USO vs DBO over one year. Due your own digging. I have not read either prespectus.

I have been in DBC, and writing otm one month calls when the price exceeds the 20day sma on some of the postion, trying to compensate for the time decay. I was making money until a week ago. The problem with this strategy is that if oil does a moon shot, you will be called out and not realize most of the profit. I now have a 6% loss on the entire position.


With sabre rattling in the gulf, an oil moon shot is on the table.

It it were possible, I would be buying unleaded gasoline on the dips. Can someone like the central fund of canada come up with a cheap storage solution, and have a gas trust that is not futures based?

[thriftyandboringinohio]

Re: Gold getting KILLED!!!!!

It it were possible, I would be buying unleaded gasoline on the dips. Can someone like the central fund of canada come up with a cheap storage solution, and have a gas trust that is not futures based?

Gasoline can be stored long term, I was involved with a project that did it some years ago. For our project, Chevron twiddled all the controls on a refinery and made an unusual, highly oxygenated reformulated gasoline blend to supply a test fleet for 3 years, that gasoline produced in a single run at project start. They stored it carefully underground with inert gas cover and delivered it by special tank truck for 3 years. Your plan should be possible.

[LargoWinch]

Re: Gold getting KILLED!!!!!

DBA has been a dog. I don't follow agricultural commodities at all so I don't know if DBA is underperforming or what. I still thank *T* for warning me off the SRS dog.

Of course it has been cjppjc and that is why I like it!

Compare DBO, DBB and DBA (ytd, 1yr and max) and see for yourself; I think Ag (and therefore DBA) is the "inflation-edge" value play at the moment.

[thriftyandboringinohio]

Re: Gold getting KILLED!!!!!

Gold is having a rough Monday, down about 2% today.

[metalman]

Re: Gold getting KILLED!!!!!

Gold is having a rough Monday, down about 2% today.

housing prices only go up! telco stocks only go up! gold only goes down! all is right in the world... if only for a day.

[thriftyandboringinohio]

Re: Gold getting KILLED!!!!!

Gold is having another rough monday.

[thriftyandboringinohio]

Re: Gold getting KILLED!!!!!

Today's action seems worthy of note, the whole week was soft. Looks like about time to jump back into GLD to collect a little butter-and-egg money.

[charliebrown]

Re: Gold getting KILLED!!!!!

Is today the day to back up the truck?
I have not seen a blood letting like this for weeks, months?
gold down 3.5% Silver down 4%
I picked up some GTU, CEF, GLD, SLV, and GDX today. Unfortunately I ordered my phys yesterday
the GLD and SLV are used for call writing. Although with the newly worded prospectus, emphasising the the gold is not encumbered, and GLD beating the pants off of GTU, it is tempting to switch.

However, if I put my tin foil hat on, if the gvt really wanted to take down gold, I think a well coriographed cadre of SEC agents
taking out bankers boxes from the Spider shares GLD office, might spook a lot of people causing tons of metal to be dumped on the market.

[thriftyandboringinohio]

Re: Gold getting KILLED!!!!!

Gold correction seems to have momentum, $1,200 / oz is now gone.
It may indeed offer another opportunity to back up the truck.
I wonder where the bottom will be.

[CanuckinTX]

Re: Gold getting KILLED!!!!!

This was posted yesterday on Jesse's site (which has had a lot of great stuff on the gold situation lately, including today) http://jessescrossroadscafe.blogspot.com/

From Jul 5th posting:

"Gold has corrected to the 50-day moving average in recent weeks, which in the past has been a terrific entry point — for the past six months, each low has been higher and each high has been higher too. Nice upward channel that is to be respected and to be bought."

With all of the supposed manipulation going on in those markets lately who knows if that trend continues.

[we_are_toast]

Re: Gold getting KILLED!!!!!

Gold correction seems to have momentum, $1,200 / oz is now gone.
It may indeed offer another opportunity to back up the truck.
I wonder where the bottom will be.

At $1200 I back up with a bucket;
At $1150 I back up a wheelbarrow;
At $1100 I back up a truck;
At $1000 I start renting Uhauls!

I am glad I backed up the truck when they introduced the forever stamps.

[thriftyandboringinohio]

Re: Gold getting KILLED!!!!!

Gold at $1185, get out that bucket...