Gold getting K I L L E D !!!!!!

[phirang]

Re: Soros:- Gold in a bubble

Fade Soros at your own risk.

[FRED]

Re: Soros:- Gold in a bubble

Fade Soros at your own risk.

We like Soros. That said, reviewing his record we cannot give him as many points as we'd like for consistency.

Gold And Oil For Soros; Illiquidity At Merrill
07.17.08

Soros finally shorted oil at $137 a barrel and put on a long position in gold; he expects to see gold hold its ground even if oil continues to decline.

Gold traded at $940 when he said this and went long gold. Hard to imagine that the 14% rise since then is the difference between a low gold price to take a long position in and a "bubble."

As when reading Bill Gross, it's important to separate his "calls" from instances of his talking his book.

[phirang]

Re: Soros:- Gold in a bubble

We like Soros. That said, reviewing his record we cannot give him as many points as we'd like for consistency.

Gold And Oil For Soros; Illiquidity At Merrill
07.17.08

Soros finally shorted oil at $137 a barrel and put on a long position in gold; he expects to see gold hold its ground even if oil continues to decline.

Gold traded at $940 when he said this and went long gold. Hard to imagine that the 14% rise since then is the difference between a low gold price to take a long position in and a "bubble."

As when reading Bill Gross, it's important to separate his "calls" from instances of his talking his book.

Fred, Soros isn't using peasant ETF's: 14% move in futures is HUGE: the leverage in a fute allows enormous gains(and losses!)

Soros went long gold to hedge FX risk, as the dollar was at RECORD LOWS back then. Already, the gold bubble had blown up so many shorts, and he didn't want to join them! I know a trader who lost everything shorting oil that summer - he got margin called at 142/bbl!!!

I think the question, now, is when to exit all gold investments and possibly move short.

As for the itulip thesis, there's an old adage in wall st: "marry your money, not your thesis." Perhaps gold will rip higher, and I also have friends who are long gold and long aud/usd, but this statement from soros is very significiant.

[we_are_toast]

Re: Soros:- Gold in a bubble

07.17.08

Soros finally shorted oil at $137 a barrel and put on a long position in gold; he expects to see gold hold its ground even if oil continues to decline.
[/INDENT][/INDENT]Gold traded at $940 when he said this and went long gold. Hard to imagine that the 14% rise since then is the difference between a low gold price to take a long position in and a "bubble."

This was a bad investment? Even for us peasants?

[LargoWinch]

Re: Soros:- Gold in a bubble

Fred, Soros isn't using peasant ETF's: 14% move in futures is HUGE: the leverage in a fute allows enormous gains(and losses!)

Even "peasants" can get exposure to 100oz of Gold or a thousand barrels of crude for less than 6K.

[metalman]

Re: Soros:- Gold in a bubble

Fred, Soros isn't using peasant ETF's: 14% move in futures is HUGE: the leverage in a fute allows enormous gains(and losses!)

not the point.

is 14% the difference between a good long position or a bubble or what?

i smell bullshit.

[phirang]

Re: Gold getting K I L L E D !!!!!!

I'm going to put my balls on the line here:

I predict gold will drop precipitously this quarter - probably breaking $1k.

The reason? The only liquidity pump that matters, the Fed, is pulling money out of the system.

We may get a relief rally to new highs later, once the Fed realizes it f'ed up(if they care), but in the meantime, there are 13 digits of treasuries to issue...

[WildspitzE]

Re: Gold getting K I L L E D !!!!!!

The only liquidity pump that matters, the Fed, is pulling money out of the system.

We may get a relief rally to new highs later, once the Fed realizes it f'ed up(if they care), but in the meantime, there are 13 digits of treasuries to issue...

Yup.

http://www.itulip.com/forums/showthread.php?t=14160

[goadam1]

Re: Soros:- Gold in a bubble

This was a bad investment? Even for us peasants?

When an ounce of gold bought you only 3 barrels of oil, gold was a screaming buy. When oil dropped to $40 dollars and an ounce of gold bought 20 or more barrels, oil was a screaming buy. With gold and oil locked together at around 15 to 1 it's hard to say. One thing I know is the petro-dollar cartel can't tolerate oil below $60 and keep the debt machine moving. And oil is essential. I think oil will increase in relative value. Whether that is both moving up at different rates or down at different rates or they diverge is anyones guess. I think I'll just stand pat.

[jtabeb]

Re: Soros:- Gold in a bubble

When an ounce of gold bought you only 3 barrels of oil, gold was a screaming buy. When oil dropped to $40 dollars and an ounce of gold bought 20 or more barrels, oil was a screaming buy. With gold and oil locked together at around 15 to 1 it's hard to say. One thing I know is the petro-dollar cartel can't tolerate oil below $60 and keep the debt machine moving. And oil is essential. I think oil will increase in relative value. Whether that is both moving up at different rates or down at different rates or they diverge is anyones guess. I think I'll just stand pat.

Suckers!:p

I get my last bonus check in July.

Anyone here want to Forward sell to me?

I'll lock in to pay $1300 an ounce RIGHT NOW for July Delivery (July 29 to be exact) to anyone willing to trade. (PM me only please, not here on this forum)

You, all know me, so I don't have to add that YES I AM SERIOUS!.

(That last part was for those that don't know me:rolleyes

[jtabeb]

Re: Soros:- Gold in a bubble

(PM me only please, not here on this forum)

To whom it may concern,

I Tried PMing you back, but either your inbox is full or you are not set up to receive PMs.

V/R

JT

[goadam1]

Re: Soros:- Gold in a bubble

Suckers!:p

I get my last bonus check in July.

Anyone here want to Forward sell to me?

I'll lock in to pay $1300 an ounce RIGHT NOW for July Delivery (July 29 to be exact) to anyone willing to trade. (PM me only please, not here on this forum)

You, all know me, so I don't have to add that YES I AM SERIOUS!.

(That last part was for those that don't know me:rolleyes

Another thoughtful analysis. LOL. I'm standing pat. Not buying or selling at this level.