Mega, where are ya, its getting....

[lektrode]

killed?

anybody care to posit a guess where/when this (latest buying opportunity) will end?

some of us are still waiting for the moment (when it appears that all is lost for the dollar, but still hoping that it wont happen any time soon, since i'd rather put my cash into productive investment, rather than CYA insurance)

how much further will AG drop or is this blythe's latest manoever to shake out the pansy longs?

24 Hour Gold

24 Hour Silver

24 Hour USDX

[globaleconomicollaps]

Re: Mega, where are ya, its getting....

does this help?
http://www.zerohedge.com/news/anothe...ing-gold-again

BTW, don't buy silver. ever.

[Mega]

Re: Mega, where are ya, its getting....

[Starving Steve]

Re: Mega, where are ya, its getting....

Gold looks like it is due for a bear-leg on the charts; i.e, gold should drop to a major number such as $1500 in one bump, maybe not now but soon. Then gold will bounce, but the bounces will get smaller, and the floor of $1500 would be tested, probably several times. Then, gold will eventually pierce the floor and go into a stage of filling the gap on the chart between $1000 and $1500. Barring terrible news for the dollar or war, this would probably take several months or a year. Then my guess would be still lower for gold in order to fill the gap on the chart from maybe $700 to $1000.... Bear markets in gold love round numbers, so the test of floors would be $1500 and then $1000. Piercing those floors with bear legs, the final resting spot for gold might be somewhere over $500, maybe $700. This bear action (gap-filling) may drag- out for many years.

Remember our last bear market for gold: $800+ in 1980, then fake-floors all the way down to $300. The drag-out took 22 years. All the way down, the gaps on the chart were filled in long and boring filling action. The first fill was $800+ down to $600, in a matter of weeks. Then a piercing, and gold dropt to the next round number of $500. This fake floor enabled trading between $500 and $600, then a fake piercing to the upside, and then down to the $500 with an eventual piercing of that floor to $400, etc. This bear action took 22 years and left plenty of dead or bankrupt bulls all the way down to the final bottom. The final bottom was reached when no-one wanted to think of gold anymore as anything but a dead horse. The final bottom was reached as a fake bear-leg on the way down to a possible $250 floor. That fake bear-leg was quickly reversed upward in an important key-reversal (or fake-out) and here we are now, well into four-digit numbers on gold.

The fact that so many people are bullish on gold, and the public (weak hands) are into gold makes a long drawn-out bear market on gold all but certain.

The blood-bath on silver could be even worse because in gold bear markets, silver drops to 70:1 with gold, or worse. A hard landing onto a fake-floor of $1000 on gold might make for $14 silver, give or take. Again, be patient because this bear action takes years to unfold. Again, a hyper-inflation or an official dollar-devaluation or a war would change everything; all bets would then be off. Another 9/11 incident would definitely make for a new bull market in gold.

Three more tips from an old man: 1.) Bull markets will not give new-comers buying opportunities worthy of the name;
2.) Bear markets will cater to late-comers, oblige any and all bulls, and always welcome the public in. Name your price, and the bear is there to serve you; 3.) Bear markets are long and drawn-out affairs; they die of exhaustion, when there is no-one left to welcome in, and nothing is left to sell.

[DRumsfeld2000]

Re: Mega, where are ya, its getting....

Sorry Steve, but I do not buy it. If gold was to fall to $700 many gold mines would close down. Also, for this to happen you would need a normalisation of the financial markets such as ZIRP being cancelled until 2014. I prefer the more realistic scenario below:-

http://www.moneyweek.com/investments...-of-gold-21100

You appear to be very anti PMs.

[Mega]

Re: Mega, where are ya, its getting....

My in box is clear now to whom ever was trying to PM me?

Gold will recover & the $ will DIE!!!!!
Mike

[jk]

Re: Mega, where are ya, its getting....

try the 3rd chart down here

[Starving Steve]

Re: Mega, where are ya, its getting....

One of the hallmarks of an early bear market is that gold is big news; gold is a religion. Gold is THE religion. Gold is salvation..... Gold is in the papers, on TV, new peaks in gold are in the headlines, gold jewelry in the fine stores, gold displays on TV, gold books, gold authors, gold mining stocks paraded out for late-comers, coin shops are opening everywhere, banks open gold-trading desks, mints are making gold coin collectibles, gold talk-shows on the radio, gold conferences, gold gurus, gold ads everywhere, gold coin necklaces worn by women, and technical charts everywhere and that can not be disputed; fear is everywhere; inflation is accelerating; the dollar is dying; another round of quantitative-easing is in the news; the beaver buck is worth a penny or two more than a U.S. buck; the bull market in precious metals has lasted for a few years; people hoard old copper pennies now.

One of the hallmarks of a final bear market bottom immediately ahead in gold is that gold is forgotten; gold is laughed at, gold is boring, gold is old, gold is for the old, gold is for the old fart conservatives, gold is for the nuts, gold is just #79 on the periodic table, gold jewelry is ugly, gold jewelry smacks at arrogance, gold is not news, no-one cares, talk-shows are not interested in gold, no-one is interested; only the Middle-East buys gold; only the tax-cheats buy gold; only the drug-dealers buy gold; who the hell cares; silver at 80:1 with gold is even more of a disaster; charts are for the mystics; the economy is good; the dollar is strong; the stock market is doing well; real estate is strong; "God bless America" is on car-bumpers; the beaver buck is 65cents of an American dollar; and gasoline is cheap; the Greens are gone; gold is a distant memory; no-one owns gold, and no-one has gold to sell; the gold mines are closed; and gold is just below a major and quite low round number with a bear-leg being put on the chart now; the bear market in precious metals has been around for many years, if not decades.

[renewable]

Re: Mega, where are ya, its getting....

I just sold my gold at $907 per ounce ...

oops