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04-22-2013, 01:54 AM
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#46
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,542
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Up $25 and back up over the $1400 mark in overnight trading this morning...
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04-23-2013, 01:32 PM
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#47
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Registered User
Join Date: May 2005
Posts: 2,394
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AP got hacked, sent gold and the rest of the markets moving, bounced right back to prior-hack levels. Gotta love it.
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Those with the best knowledge have the best luck !!!
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04-23-2013, 01:47 PM
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#48
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Registered User
Join Date: Feb 2003
Location: NE Ohio
Posts: 16,487
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04-23-2013, 01:51 PM
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#49
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Screw PC
Join Date: Jun 2003
Posts: 15,728
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Quote:
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Originally Posted by Valuist
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Yes, it is. Very. The emporer's clothes comes to mind.
__________________
Truth sounds like hate to those who hate truth.
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04-23-2013, 02:53 PM
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#50
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Registered User
Join Date: May 2005
Posts: 2,394
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I also heard that GS has covered their short on gold.
__________________
Those with the best knowledge have the best luck !!!
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04-23-2013, 03:08 PM
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#51
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Registered User
Join Date: Mar 2005
Location: Queens, NY
Posts: 20,606
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Quote:
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Originally Posted by DJofSD
Yes, it is. Very. The emporer's clothes comes to mind.
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It's hard to know what's really going on, but there are a few things that are closet to 100% certain.
1. Gold is the most popular monetary alternative to fiat currencies (and IMO best alternative).
2. Governments, central bankers, and Wall St/international bankers all have reason to be hostile towards gold.
a) Governments benefit from the ability to print money to finance the welfare/warfare state and extract wealth from citizens via inflation. If you cut spending or raise taxes you will be held accountable and throw out of office. If you print money and inflation rises, most of the public won't understand the process or make the linkage.
b) Wall St/banks benefit by printing money because they get to make a fortune on the upside of the bubbles all that easy money creates, but then get their losses socialized on the downside.
It's basically an unholy alliance.
It doesn't take much of leap to think that with incentives like these, governments, central bankers, Wall St etc.. will do everything in their power to discredit and manipulate the alternative to their monetary scam (gold) so they can keep that power.
__________________
"Unlearning is the highest form of learning"
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04-23-2013, 03:57 PM
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#52
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Registered User
Join Date: Feb 2003
Location: NE Ohio
Posts: 16,487
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Quote:
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Originally Posted by RaceBookJoe
I also heard that GS has covered their short on gold.
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I was going to add that. Certainly smacks of pure manipulation to drive the price down, benefit with a short position, and now get a better entry point to re-enter.
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04-23-2013, 03:59 PM
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#53
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Registered User
Join Date: Oct 2001
Posts: 46,883
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Quote:
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Originally Posted by Valuist
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I tell you a truth: Anyone who maintains any personal bank account, (or even has a safe deposit box) with more money in it than is necessary to meet his ro her monthly obligations is taking a high and unnecessary risk, in my opinion, of course. 
Boxcar
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Consistent profits can only be made on the basis of analysis that is far from obvious to the majority. - anonymous guru
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04-24-2013, 05:44 PM
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#54
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,740
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today gold and gold miners had the real first sign of strength. the charts of these things look so bad now that they all look like they have to pull back again to prove that they are all done getting punished.
i love a miner MUX,
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04-24-2013, 06:37 PM
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#55
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Registered User
Join Date: Mar 2007
Location: Manhattan
Posts: 3,826
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Back in 2010, I bought SLV at about 20. In less than a year, it went up to almost 50, then plunged. I ended up getting stopped out at 35. SLV is currently selling for 23. A greater than 50% drop from a high is more than a correction. Until further notice, the bull market in precious metals is toast. The circus has packed up and moved to another town.
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“Life does not ask what we want. It presents us with options”
― Thomas Sowell
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04-24-2013, 06:55 PM
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#56
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Registered User
Join Date: May 2005
Posts: 2,394
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DUST got hammered today, saw it too late and options volume was too low anyways. Also, there are signs that the internal market is starting to crumble, but thats not to say the bull run is over yet. It took about 3 yrs from the 1st sign of trouble until the dotcom era came crashing down.
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Those with the best knowledge have the best luck !!!
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04-24-2013, 09:22 PM
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#57
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,740
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Quote:
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Originally Posted by RaceBookJoe
DUST got hammered today, saw it too late and options volume was too low anyways. Also, there are signs that the internal market is starting to crumble, but thats not to say the bull run is over yet. It took about 3 yrs from the 1st sign of trouble until the dotcom era came crashing down.
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DUST is tripple oxygen!
they are nothing but options, you are probably better off shorting these things instead of going long. there is plenty of premium that erodes on a daily basis.
i watched banks a few years ago, FAS and FAZ, they are opposite each other, 3 years ago you would have lost no matter which side you picked.
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04-24-2013, 09:59 PM
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#58
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Registered User
Join Date: May 2005
Posts: 2,394
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Quote:
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Originally Posted by lamboguy
DUST is tripple oxygen!
they are nothing but options, you are probably better off shorting these things instead of going long. there is plenty of premium that erodes on a daily basis.
i watched banks a few years ago, FAS and FAZ, they are opposite each other, 3 years ago you would have lost no matter which side you picked.
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I nailed DUST long last week, cant short it and the puts were just too low on volume. Only daytrading, never holding overnight. I usually just play /GC but when it moved down DUST went flying.
__________________
Those with the best knowledge have the best luck !!!
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04-25-2013, 08:57 AM
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#59
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,740
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gold is up early in the paper market today. it is creeping back to inside its 200 week moving average. that might prevent it from going back down to test the bottom again, but it does not mean it is out of its bear market. it needs to see about $1700 to confirm that.
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04-25-2013, 09:12 AM
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#60
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Registered User
Join Date: May 2005
Posts: 2,394
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Quote:
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Originally Posted by lamboguy
gold is up early in the paper market today. it is creeping back to inside its 200 week moving average. that might prevent it from going back down to test the bottom again, but it does not mean it is out of its bear market. it needs to see about $1700 to confirm that.
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DUST looks to be opening way below yesterdays close also. I wont say the bottom is in on gold, but i do think it trends back up from here especially if the market starts to fall.
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Those with the best knowledge have the best luck !!!
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