Gold...........Which way its going?

[Mega]

Charts say its going to "Corect"...("They" will short it).....but i think "They" have lost control, even with naked short selling its climbing.

My thoughts, even "They" can't now stop its march, the total collaspe of the banking sector & Printing will see it hold $900-$1200.........Then by Sept.....a rush to +$2000.

Mike

[hellstan]

Re: Gold...........Which way its going?

Charts say its going to "Corect"...("They" will short it).....but i think "They" have lost control, even with naked short selling its climbing.

My thoughts, even "They" can't now stop its march, the total collaspe of the banking sector & Printing will see it hold $900-$1200.........Then by Sept.....a rush to +$2000.

Mike

Probable correction around 880-900. Then you're right.
And we must act accordingly.

[audrey_girl]

Re: Gold...........Which way its going?

I don't speculate on short term trends, but I do invest on what I consider to be long-term trends and I have been on this train for the last 6 years and not getting off now.

that said - can you image how the market and gold will react when GM declares bankruptcy in a month or two? how the market and gold will react when Chrysler declares bankruptcy in a month or two? when the feds take control of BofA and Citi? when the british pound goes crashing through the floor?

its going to get really ugly for the dow, and the reverse for gold

take a look at the following to see what is now airing on the airwaves of the MSM:


http://www.youtube.com/watch?v=SoCv1GwXUxci

i'm guessing that this can't be good for market sentiment...

like you always say mike - "peter schiff was right"

[hellstan]

Re: Gold...........Which way its going?

Fully agree.
Short term trends are futile.
Faber and some here saw the Dow and gold crossing theirs curves.
Dow under 5000 = Gold over 5000.
Only catch for us in Europe : follow gold in euros, not in dollars.
In euros, it's incredibly strong.
Since 18 months I'm in gold now, I'm up 45 %, and certainly
won't step down now.

[audrey_girl]

Re: Gold...........Which way its going?

listen to what auric has to say:

"this is gold Mr. Bond... all my life I have been in love with its color....




http://www.youtube.com/watch?v=U1TmeBd9338

a little levity for an otherwise grim situation

[Slimprofits]

Re: Gold...........Which way its going?

listen to what auric has to say:

"this is gold Mr. Bond... all my life I have been in love with its color....




http://www.youtube.com/watch?v=U1TmeBd9338

a little levity for an otherwise grim situation

I'll raise you Goldmember. "You see Mr. Powers, I love goooooooooooooooooooooooooooooooold."

http://www.youtube.com/watch?v=lWktQi9fwW4

[Starving Steve]

Re: Gold...........Which way its going?

1.) Never fall in love with anything, especially if you are trading in it.

2.) Experience has taught me that bull markets NEVER give newcomers good buying opportunities. If they do, you are going to get clobbered.

3.) Bull markets die of exhuastion. And bear markets die of exhaustion.
The trend is always your best friend.

4.) Market trends must match market fundamentals, otherwise you are dealing in witchcraft.

5.) When in doubt, STAY OUT!

6.) Double bottoms or tops, and exponential trending markets are WARNINGS of a trend change ahead.

7.) Things that are too good to be true are not true.

8.) When the barber and the cab driver are getting into the market, it is time to quietly EXIT. Thus it is said, "Bears make money and bulls make money, but pigs get slaughtered."

9.) Never play your hunches. Play the facts of the market as much as possible because the market knows ALL.

10.) Be ready for any news because the news is always the wild card in all markets. Whatever the news dictates, accept it and trade accordingly.




These are the lessons that I have learned through bitter experience at Hard Knox University. ;)

[Mega]

Re: Gold...........Which way its going?

Good, sound advice.
I am in gold till EJ or Schiff sez sell......er till EJ tells me to sell.
Mike

[Basil]

Re: Gold...........Which way its going?

Probable correction around 880-900. Then you're right.
And we must act accordingly.

It does need a bit of breather at this point and I would guess it goes back down to 880-900. But after that it will be off to the races. I do occasionally make some short term plays and have been fortunate on both the long and short side of Gold, but I will no longer touch the short side and I never sell my physical, only gather more at buying opportunities. I would see a drop below 900 as a good buying opportunity at this time, perhaps the last one. Silver has the potential to double this year, even from its current level.

[Starving Steve]

Re: Gold...........Which way its going?

One thing I do like about gold, even at this outrageous price, is that if you have the gold in your hand, you have the gold.

This is lesson #11 in Starving Steve's miserable life: BERNIE MADOFF MADE OFF WITH BILLIONS IN TRUST AND APPARENTLY NEVER BOUGHT ONE SHARE OF STOCK FOR ANYONE. This speaks volumes about the safety of the markets to-day, especially in the wake of de-regulation by the Republicans in the U.S.

APPARENTLY, THERE HAS BEEN NO REGULATION OF THE MARKETS IN AMERICA WHATSOEVER, AND EVERYTHING THAT WE HAVE BEEN TOLD IS BULL-SH*T. There has been no S.E.C. oversight. NONE. NADA.

This is the strongest argument in support of gold in-the-hand that I have ever heard: Lesson #11 is BERNIE MADE-OFF. I think I might carve that on the logs of my home: "Bernie made-off with billions. Thank you suckers."

[Mn_Mark]

Re: Gold...........Which way its going?

One thing I do like about gold, even at this outrageous price, is that if you have the gold in your hand, you have the gold.

This is lesson #11 in Starving Steve's miserable life: BERNIE MADOFF MADE OFF WITH BILLIONS IN TRUST AND APPARENTLY NEVER BOUGHT ONE SHARE OF STOCK FOR ANYONE. This speaks volumes about the safety of the markets to-day, especially in the wake of de-regulation by the Republicans in the U.S.

I agree that it's good to have gold in the hand.

But I have to object to the blanket generalization about Republicans being responsible for this because they deregulated.

Deregulation is good. It's already becoming very difficult to grow a small business in this country. We need it to be simple and rewarding to grow new businesses, not a labyrinth of regulation.

Besides, what Madoff did has been illegal forever and there have been regulations forever forbidding it. Yet he did it for 13(?) years under both Democratics and Republican administrations and Congresses. And the regulators did not catch it even when whistleblowers told them to look into it!

So let's not pretend that "more regulation" would have caught this. We already have regulation orders of magnitude more voluminous and complex than any time in our country's history.

What we need is not for people to rely even more on government to protect them from cheats, but for people to understand that they are primarily responsible for minding their financial affairs. It lulls them into a false sense of security when they think "government will prohibit bad things and protect me." No, you can't rely on that. You have to develop some "common sense antennae" that tells you things like "this guy ALWAYS has a postive return, every quarter, and an above-market return at that...for years on end. That isn't possible to do in an honest way, so he is probably working some scam. I should steer clear of this because if it's too good to be true, it isn't true."

I don't want to go back to Carter-era levels of regulation. More regulation will not fix this because we had plenty of regulation and we had the biggest fraud in history.

Asking for more regulation to fix this problem is as misguided as Obama and Geithner and Bernanke and Paulson and Bush saying that we need to borrow and spend more money to address the problems caused by borrowing and spending too much money.

We need more people taking personal responsibility for their financial affairs, not more dependence on ever-more labyrinthine regulation.

[Starving Steve]

Re: Gold...........Which way its going?

I generally agree with you: People should take responsibility for their own financial affairs. And I think people around the world have made their decision: They will NO LONGER TRUST WALL STREET NOR THE SECURITIES AND EXCHANGE COMMISSION.

And here we have Lesson #12: Anything that could possibily happen, can happen, regardless of what anyone says or any guarantees they give you.

Who could possibly imagine this mess now and nearly every major company in America losing money and heading for bankruptcy? These were the bluest of the blue chip stocks; how could this happen?

Citi Bank now $2. Bank of America now $4. GM now $2. GE now $9.
Ford and Chyrsler at pennies. Is Intel now in single digits?

This is much worse than 1929, and this disaster is just beginning, apparently. This is unbelieveable, and yet this is happening! And this disaster is spreading from America, worldwide like a disease. Call it "cowboy capitalism disease".

This is the only reason why gold still looks reasonable, even now, priced in four digits. The news each day keeps getting worse.

No, Minnesota Mark, I blame the Republicans, especially the neo-cons, especially Alan Greenspan and George Bush for this disaster. Absolutely!!!!!! And the other Republicans in the background, one dead and one living, like Ronald Reagan (for Reaganomics) and Arthur Laffer (for supply-side economics ) are to blame too.

De-regulation is great in theory, but the practice is this disaster now. No two ways about it.

[Master Shake]

Re: Gold...........Which way its going?

I agree that it's good to have gold in the hand.

But I have to object to the blanket generalization about Republicans being responsible for this because they deregulated.

Deregulation is good. It's already becoming very difficult to grow a small business in this country. We need it to be simple and rewarding to grow new businesses, not a labyrinth of regulation.

Besides, what Madoff did has been illegal forever and there have been regulations forever forbidding it. Yet he did it for 13(?) years under both Democratics and Republican administrations and Congresses. And the regulators did not catch it even when whistleblowers told them to look into it!

So let's not pretend that "more regulation" would have caught this. We already have regulation orders of magnitude more voluminous and complex than any time in our country's history.

What we need is not for people to rely even more on government to protect them from cheats, but for people to understand that they are primarily responsible for minding their financial affairs. It lulls them into a false sense of security when they think "government will prohibit bad things and protect me." No, you can't rely on that. You have to develop some "common sense antennae" that tells you things like "this guy ALWAYS has a postive return, every quarter, and an above-market return at that...for years on end. That isn't possible to do in an honest way, so he is probably working some scam. I should steer clear of this because if it's too good to be true, it isn't true."

I don't want to go back to Carter-era levels of regulation. More regulation will not fix this because we had plenty of regulation and we had the biggest fraud in history.

Asking for more regulation to fix this problem is as misguided as Obama and Geithner and Bernanke and Paulson and Bush saying that we need to borrow and spend more money to address the problems caused by borrowing and spending too much money.

We need more people taking personal responsibility for their financial affairs, not more dependence on ever-more labyrinthine regulation.

I agree, Mark. What is needed is not more regulation, but more competency and less bullshit. Some severe punishment for the perps would help, too.

[Starving Steve]

Re: Gold...........Which way its going?

"What benefits have asset-backed securities and credit default swaps brought to the markets?" replied Paul Volcker, apparently to-day. These were the fruits of market de-regulation in the past twenty years.

Republicans, neo-cons, supply-siders, libertarians, and nuts from the South: DID YOU READ PAUL VOLKER'S COMMENTS WHEN ASKED ABOUT THE SO-CALLED BENEFITS OF MARKET DE-REGULATION?

"The only benefit to people from innovation in the banking industry in the past twenty years has been the automated teller," said Volcker.

Arthur Laffer, are you paying attention? Alan Greenspan, are you paying attention? :rolleyes:

[c1ue]

Re: Gold...........Which way its going?

Steve,

So why didn't the 'Great Democrat' Clinton not boot Greenspan in his 8 years of neo-Democrat rule?

And why was the Glass Steagall act repealed in 1999 - the Clinton era?

In your haste to blame someone, you aren't seeing clearly.