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Another Day, Another All Time High: Gold At $1,544.9

Tyler Durden's picture




 

Hopefully at this point nobody is surprised why at this rate gold will pass $1,600 within a month, silver may be $100 by the end of the year, and the dollar will be worthless, in order, to paraphrase Bernanke, reincarnate it in a fresh start version of itself, following the refinancing of all US private and public debt at 0% interest. For everyone still confused, and the naysayers, we urge you to read the following - link.

Gold:

DXY:

 

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Fri, 04/29/2011 - 10:35 | 1220323 FOC 1183
FOC 1183's picture

Gold, meet Birinyi's transitory ruler

Fri, 04/29/2011 - 10:44 | 1220386 nope-1004
nope-1004's picture

Gold shoots?

LOL.  Better than the Green paper shit Benocide clings to.

 

 

Fri, 04/29/2011 - 10:53 | 1220428 Fish Gone Bad
Fish Gone Bad's picture

A strong dollar is in the best interest of the American people.  We know this because Geithner told us so.  Perhaps Geithner was actually referring to the new dollar that will be created from the ashes of what was once a prosperous nation.

Fri, 04/29/2011 - 21:04 | 1222864 Bicycle Repairman
Bicycle Repairman's picture

Captain America to be renamed Captain Brazil.

Fri, 04/29/2011 - 14:23 | 1221436 akak
akak's picture

Maybe he's really talking about the Canadian and Australian dollar?

Fri, 04/29/2011 - 11:02 | 1220434 Bay of Pigs
Bay of Pigs's picture

If anyone bothered to listen to the Bernanks press conference the other day they would know exactly why gold is rising.

Maybe when we see a 6 handle on the USDX (Turd's POSX), people will finally wake up?

Not rocket science PM bears...

Fri, 04/29/2011 - 11:53 | 1220712 Hephasteus
Hephasteus's picture

Why would anyone bother to listen to it. You know he's going to lie.

Fri, 04/29/2011 - 14:26 | 1221474 akak
akak's picture

If anyone bothered to listen to the Bernanks press conference the other day they would know exactly why gold is rising.

You mean that sham of a farce of a mockery of a staged kabuki theater of a "press conference"?  The one in which various hand-picked corporate-media "reporters" (note that they are rightly not referred to as "journalists" any longer) tossed a handful of  fluffy marshmallows at Bernanke --- with prior knowledge of exactly which and just whose marshmallows were going to be tossed his way?

Fri, 04/29/2011 - 14:31 | 1221483 jerry_theking_lawler
jerry_theking_lawler's picture

so you are saying the whole thing was 'staged'...like most things in media these days??

Fri, 04/29/2011 - 14:35 | 1221484 jerry_theking_lawler
jerry_theking_lawler's picture

so you are saying the whole thing was 'staged'...like most things in media these days??

 

sorry, something wrong with ZH webpage...not loading. hit <SAVE> again. result is double post and me junking myself for double posting.

Fri, 04/29/2011 - 11:09 | 1220528 falak pema
falak pema's picture

If we had a hard-on competition in the ZH room right now we would get a lot of willing and gleeful candidates, I'd bet my not so sweet ass!

Fri, 04/29/2011 - 11:19 | 1220562 Temporalist
Temporalist's picture

You're the winner!  Fuckin hard on.

Fri, 04/29/2011 - 12:08 | 1220774 falak pema
falak pema's picture

but I don't trade in gold right now...so i'm not in the running amongst the gold bugs.

Fri, 04/29/2011 - 12:07 | 1220754 JoeSexPack
JoeSexPack's picture

Silver margins just bumped to $14513, per CME.

Fri, 04/29/2011 - 15:44 | 1221879 Intellectual Chaos
Intellectual Chaos's picture

There is only one ultimate central banker and her name is mother nature and she does not keep printing worthless paper, rather, she has a finite number of natural resources in her bank and those resources are subject to the real forces of supply and demand, that is all you need to know to understand why gold and silver keep moving up.

Fri, 04/29/2011 - 10:36 | 1220337 FOC 1183
FOC 1183's picture

Huge Wanger's going to pop...get out of her before it's too late

Fri, 04/29/2011 - 10:40 | 1220364 SoNH80
SoNH80's picture

Yeah, right, I don't see another Saudi oil glut per 1983 on the horizon, or another Canadian gold glut per 1983, or a restoration of the Republic for the time being for that matter.  Quit playing with yer delusions and read up on some history

Fri, 04/29/2011 - 10:40 | 1220365 nope-1004
nope-1004's picture

My "lunacy" is out of bankster control.  That's the bottom line:  Play the game and get raped or get out, buy physical, and watch the panic ensue.

 

Fri, 04/29/2011 - 10:42 | 1220388 FOC 1183
FOC 1183's picture

If by 'lunatic' you mean those that are up more than the S&P over the last 12 months, consider me a happy lunatic.

in other news, I'm shocked:  

"Jeffrey Immelt, the chief executive of General Electric, has resigned as a class B director on the board of the Federal Reserve Bank of New York, citing increased demands on his time. The Fed will start regulating G.E.’s finance arm, GE Capital, in July."

Fri, 04/29/2011 - 11:00 | 1220460 billhilly
billhilly's picture

Hamy, you are the BEST !  You make me laugh so hard. I thoroughly enjoy reading your well written, inventive, funny comments...although highly erroneous IMHO.  Yet, keep it up because we all need a little comic relief each day, and a bit of baiting to free some pent up hostility.

Fri, 04/29/2011 - 12:03 | 1220747 Absinthe Minded
Absinthe Minded's picture

Hamy's getting a little testy. I guess he went with paper that was spray painted gold.

Fri, 04/29/2011 - 13:37 | 1221184 Chuck Walla
Chuck Walla's picture

Little testes may well be his whole problem!

Fri, 04/29/2011 - 12:07 | 1220751 Zero Govt
Zero Govt's picture

Hamy Wanger   .."Lunatic goldbugs will end up in the Vegas sewers, along with Prechter.."

Your a stocks guy, but your paper promises have lost out to Golds relentless rise over the past 10 years underperforming by some 40%. Who is the loony?

You shouldn't be touching investing if you ignore maths and performance and then call investors in a rising asset class "loons". 

Prechter and his Elliott Wave crones are loons. They've bleated Gold is in a bubble right through 2010 in the face of reality (much like you) and again like you been calling tops with their constantly failing sack of crap Wave Theory. It may (will) be YOU joining Prechter on the scrap heap if you keep failing to predict and deal with reality


Fri, 04/29/2011 - 13:08 | 1221056 J in Vegas
J in Vegas's picture

Mr Wanger... they are not sewers but storm drainshttp://www.lasvegassun.com/videos/2008/may/27/308/

That's where the kool kidz hang out and spray paint and do drugs!  

But anyways... perfect timing to jump from being a lurker to being a member of this crazy site. Must end my first post with the traditional "silver bitchez".

 

Fri, 04/29/2011 - 10:38 | 1220357 homersimpson
homersimpson's picture

More like get out of him before it's too late.. not that we missed dumb comments from this bulltard to begin with..

Fri, 04/29/2011 - 10:46 | 1220402 Creepy Lurker
Creepy Lurker's picture

+1 for bulltard

LOL

Fri, 04/29/2011 - 11:39 | 1220634 Pool Shark
Pool Shark's picture

 

Don't

Feed

The

Trolls

 

Fri, 04/29/2011 - 10:33 | 1220338 SWRichmond
SWRichmond's picture

Dude...I'm already dumping my USD as fast as I can, but thanks for the advice!

Fri, 04/29/2011 - 10:37 | 1220361 SilverBaron
SilverBaron's picture

+++++

 

Fri, 04/29/2011 - 10:54 | 1220435 Founders Keeper
Founders Keeper's picture

[Dude...I'm already dumping my USD as fast as I can, but thanks for the advice!]---SWRichmond

Been doing the same since Fall 2008. Getting rid of it as fast as I can. Trading it for store of value "items", emergency supplies, security, extras for family and friends, barter items, and history books (for posterity and the rebuild).

Taking out the trash.

 

Fri, 04/29/2011 - 11:14 | 1220540 Hephasteus
Hephasteus's picture

When ben heads to his LOLcopter. It's time to dump the Lollar.

Fri, 04/29/2011 - 11:41 | 1220644 disabledvet
disabledvet's picture

would i be better off if i was paid in gold?

Fri, 04/29/2011 - 11:08 | 1220493 Founders Keeper
Founders Keeper's picture

dup post. sorry guys.

 

Fri, 04/29/2011 - 11:58 | 1220717 -Michelle-
-Michelle-'s picture

Yup.  We're drawing our savings down further, replacing things that need replacing now and putting more in to our garden and food stores.

I feel a little sick whenever I look at the PM prices.  They look nice until you start thinking about why they're so high.

 

Fri, 04/29/2011 - 12:35 | 1220896 SWRichmond
SWRichmond's picture

Yes and yes and yes.  Exhilarating and terrifying at the same time.

Fri, 04/29/2011 - 13:15 | 1221077 ColonelCooper
ColonelCooper's picture

The idea of being right is a very small consolation when you consider what it means.  Small consolation Hell, it's downright terrifying.  I'm as self sufficient as a person can be without shutting off the utilities, and I'm still nervous. 

It's no wonder the world is so chock full of normalcy bias, if I was an unprepared urbanite with my entire future stuck in the markets and the dollar, I'd have my head firmly planted in the sand too.

@SWR:  You eating fresh greens from your garden yet?  I'm going to work the garden up this afternoon, and hope to get some peas and onions in soon, but we're also supposed to have snow AGAIN this weekend, so I'm trying not to jump the gun.

Fri, 04/29/2011 - 13:23 | 1221119 SWRichmond
SWRichmond's picture

I am eating the hell out of lettuce and radishes; just had a bowl full for lunch.  Snow peas are starting to climb; green beans are just out of the ground; potatoes are growing at a shocking pace; my tomato plants are more than a foot high.  I need to put in another round of lettuce before the temp gets too hot; In another week I will plant another batch of green beans.  I had to cover my stuff with a tarp just a couple of weeks ago to protect it from sleet.  I got away with it.

Fri, 04/29/2011 - 15:42 | 1221871 ColonelCooper
ColonelCooper's picture

Awesome.  We still have enough of last years canned and frozen to carry through, but am I ever drooling over the thought of the fresh stuff.  Good luck to you, SWR.

Fri, 04/29/2011 - 13:25 | 1221133 Citxmech
Citxmech's picture

+1000.

We've got peas in and up already, onions and tomato starts going in soon.  Damn weather screwed us last year on the tomatoes [early rain caused end-rot].  Hope this year's better.

Hear you on the fear factor - this situation could continue to linger or really accelerate at any time...   

Fri, 04/29/2011 - 14:04 | 1221363 Strider52
Strider52's picture

+ 1561.10. And climbing str8 up as I type this.

  I agree, gold going str8 up is nice, until you think about why.

Fri, 04/29/2011 - 10:37 | 1220346 Cognitive Dissonance
Cognitive Dissonance's picture

Those ink bubbles are a real bitch when they explode. Very messy.

Fri, 04/29/2011 - 10:35 | 1220349 Korrath
Korrath's picture

If you mean the S&P 500, then yes indeed, you are correct good sir.

Fri, 04/29/2011 - 10:39 | 1220350 Temporalist
Temporalist's picture

Damn you Hamy!

Fri, 04/29/2011 - 14:43 | 1220808 Zero Govt
Zero Govt's picture

no need, he's damning himself ignoring Golds rise and shooting only himself in the foot

Fri, 04/29/2011 - 10:35 | 1220353 slaughterer
slaughterer's picture

Funny how the Bernank never comments on the rise in PMs.  Is this Geithner's responsibility?  /sarc

Fri, 04/29/2011 - 10:38 | 1220355 topcallingtroll
topcallingtroll's picture

Hehehe.

Hey Hammy will you tell Harry to come back?
I miss him and want to have his baby.

It feels awfully lonely and scary up here having bought ZSL at 13.69.

Fri, 04/29/2011 - 10:42 | 1220373 Long-John-Silver
Long-John-Silver's picture

I got out of the Dollar bubble about 3 years ago. I'm surprised it's only now popping.

Fri, 04/29/2011 - 10:41 | 1220380 Texas Gunslinger
Texas Gunslinger's picture

You say the gold bubble is going to pop?  That makes me worried!

Should I sell my gold, and buy it back when it goes for the dip?

 

 

Fri, 04/29/2011 - 10:48 | 1220410 SoNH80
SoNH80's picture

Dude, if you sell any gold, you will end up regretting it.  Short-timing precious metals is riskier than riding a motorcycle naked, but if you understand that our paper currency is being destroyed at an increasing pace, you will understand that keeping gold and silver is the smartest move you will ever make financially.

Fri, 04/29/2011 - 10:53 | 1220429 Texas Gunslinger
Texas Gunslinger's picture

My coin dealer (who is a god of knowledge!) told me to keep the gold forever.  But I see gold making new higher prices all the time, and I read lots of comments about gold being in a bubble, so it makes me feel like maybe I should sell and buy it back when it does a dip. 

Fri, 04/29/2011 - 11:17 | 1220553 Nostradumbass
Nostradumbass's picture

-

-

I think that ZH is a little tough for you to be cutting your teeth on...

better get up to speed elsewhere and come back later.

Fri, 04/29/2011 - 12:06 | 1220673 topcallingtroll
topcallingtroll's picture

.

Fri, 04/29/2011 - 11:48 | 1220679 topcallingtroll
topcallingtroll's picture

Agreed, dumbass

Fri, 04/29/2011 - 13:24 | 1221122 ColonelCooper
ColonelCooper's picture

Agree also.  Yahoo Finance has a gold article once in a while.  I'd follow their advice and sell.  The comments are friendlier too, at least in that you won't get swore at quite so often.

Fri, 04/29/2011 - 11:25 | 1220579 gmrpeabody
gmrpeabody's picture

Yes, you do that Tex. And quickly..., we will let you know when it's time to pile back in.

Fri, 04/29/2011 - 11:32 | 1220607 GubbermintWorker
GubbermintWorker's picture

I take it that you didn't read the link? I know, it's rather lengthy so let me give you the cliff note version...

 

 

The Dollar is dying....sooner rather than later too. Do not sell your gold but rather buy more of it...and silver too!

Fri, 04/29/2011 - 13:14 | 1221084 Moe Howard
Moe Howard's picture

You should sell now and buy it back on the dip. Good plan. I would recommend eBay or APMEX.

Fri, 04/29/2011 - 10:58 | 1220444 topcallingtroll
topcallingtroll's picture

He is a fake, but a good one.

Fri, 04/29/2011 - 10:59 | 1220455 topcallingtroll
topcallingtroll's picture

He is a fake, but a good one.

Fri, 04/29/2011 - 11:03 | 1220483 Texas Gunslinger
Texas Gunslinger's picture

You guys are IMPOSSIBLE!

Someone said gold was in a bubble, so I ask if I should sell, hoping to generate some conversation that I can learn from. I probably won't sell it, but I wanted to hear some opinions why.  THAT'S ALL!!!!!!!!!!

And now I'm a troll again?  WTF is wrong with everyone here?

JUST FORGET IT!

Fri, 04/29/2011 - 11:09 | 1220511 Burnbright
Burnbright's picture

He didn't call you a troll, he was calling Hammywanger a troll. Which Hammy is really just a copy of a troll named Harrywanger who used to be on here all the time. Hammy just parots what Harry used to say.

On the topic of Gold I really am not going to spend the time to explain to you why you should hold on to it, that would honestly take way too long. 

Fri, 04/29/2011 - 12:06 | 1220750 gravitas
gravitas's picture

You do realise that you're explaining parody-charicature to someone who is exactly that... right?

 

LOL TG, you've been playing this role rather brilliantly.

Fri, 04/29/2011 - 13:46 | 1221241 prole
prole's picture

I can't tell if he is Texas Friekorps or Math/Danger Man?

Fri, 04/29/2011 - 11:08 | 1220523 Temporalist
Temporalist's picture

TG the lack of response is because if you spend any time reading past articles you will get all the information you need.  People don't want to reply to someone who is too lazy to read on their own a bit and who is willing to ask complete strangers for advice about his/her own personal finances.

Also the first question you ask is "bubble, should I sell" when 90% of people here would gladly take your gold from you and laugh when you try to buy it back.

Fri, 04/29/2011 - 11:12 | 1220525 tmosley
tmosley's picture

Yes, forget all about it and run along.

Fri, 04/29/2011 - 11:10 | 1220531 SoNH80
SoNH80's picture

I told you to keep your gold, a straight answer.  You act like some of the Texans I encountered in Houston, on a visit with family friends.  At a cocktail party in my honor, a man kept asking, "Uh, you got that Ted Kennedy up in New Hampshire, huh?"  And I said, "No, he's from Massachusetts, it's a separate state.  Both of our Senators (at the time) are Republicans, and so is our Governor."  His response?-- "Uh, you got that Ted Kennedy."  He also claimed to not want to travel to New England because he had had his car broken into in-- Washington, D.C., 500 miles to the south.... you know what the kicker was?  He was a brain surgeon at Baylor Hospital.  I believe that you're genuine, since you fit the profile...

Fri, 04/29/2011 - 11:18 | 1220558 Texas Gunslinger
Texas Gunslinger's picture

Yes. Thank you for the straight answer!  I wasn't responding to you, but to the guy under you who called me a fake.  

I don't understand your story.  I fit the profile of a brain surgeon?  What the hell does that mean?  

Fri, 04/29/2011 - 11:20 | 1220568 SoNH80
SoNH80's picture

Exactly.

Fri, 04/29/2011 - 11:26 | 1220582 Texas Gunslinger
Texas Gunslinger's picture

Exactly?  WHAT?

I don't play no damn puzzles.  

Fri, 04/29/2011 - 11:43 | 1220614 Wynn
Wynn's picture

Read more, type less.

Don't abuse the comment section with chat room like conversations.

And ... if you enjoy the content here, send ZH a generous contribution. Bandwidth ain't free, and I don't know what Tyler earns from this little adventure, but whatever it is, it's not enough.

Fri, 04/29/2011 - 13:24 | 1221129 ColonelCooper
ColonelCooper's picture

+++++

Fri, 04/29/2011 - 11:34 | 1220617 topcallingtroll
topcallingtroll's picture

You were very funny yesterday.

If you are for real will you guys kindly supply him with a reading list?

Fri, 04/29/2011 - 12:10 | 1220770 Abitdodgie
Abitdodgie's picture

I looked at the comments for 6 months and read every article going on ZH before i even dared to post a comment, they are a tough crowd . 

Fri, 04/29/2011 - 13:18 | 1221110 ColonelCooper
ColonelCooper's picture

Me too.  I was so green (still am) when I started reading here, some articles would take a couple of hours to get through, because I would have to look up damn near everything just to figure out what the Hell people were talking about.  (still do sometimes)  I also spent about six months lurking before I started posting.

Fri, 04/29/2011 - 11:26 | 1220592 gmrpeabody
gmrpeabody's picture

ROFLMAO!

Fri, 04/29/2011 - 11:37 | 1220621 EscapeKey
EscapeKey's picture

That was pretty damn funny.

Texas, just lurk a little more in the beginning, and you'll pick up most things as you go along. I suppose there should be some sort of ZH groupthink FAQ for newbies...

Fri, 04/29/2011 - 11:50 | 1220692 disabledvet
disabledvet's picture

a what?

Fri, 04/29/2011 - 12:15 | 1220809 Temporalist
Temporalist's picture

FAQ

#1)  Are gold and silver in a bubble?

       Ans: Fucked if we know but we are buying until we don't hear the rotors of the Bernankmobile humming 24/7.

Fri, 04/29/2011 - 11:25 | 1220580 Nostradumbass
Nostradumbass's picture

-

-

Again, the fact that you cannot even understand the comments and sarcasm here indicates that you should get your information somewhere else.

Just leave.

Fri, 04/29/2011 - 11:24 | 1220586 traderjoe
traderjoe's picture

Now you've revealed yourself to be a troll...

Fri, 04/29/2011 - 11:34 | 1220620 Texas Gunslinger
Texas Gunslinger's picture

because I don't understand his stupid brain surgeon story?

or because I asked if I should sell my gold?

Yeah - both of those questions are really troll-like.  RIGHT!

Personally, my price target for gold is $3200.  All I was thinking was that maybe I could buy it back at a cheaper price, and try to time the market a bit to preserve profit margins.  That's all.  And for some reason, everyone here is giving me shit for it, or telling me stories that are impossible to understand. 

I said from the outset that I'm not the smartest investor in the world, and you guys treat me like crap because of it.  If you truly knew me, you'd think I was the most humble, nicest, down-to-earth guy you'd ever met.  I've got no pretension and I ain't afraid to ask questions that I don't understand.  Sorry if you guys think that's a character flaw. I don't. 

Fri, 04/29/2011 - 11:37 | 1220636 EscapeKey
EscapeKey's picture

Keep your physical, use paper gold for daytrading (futures, options, ...).

Fri, 04/29/2011 - 11:40 | 1220638 GubbermintWorker
GubbermintWorker's picture

Is this physical gold you're talking about or paper gold? Paper gold is for buying and selling but physical gold is for holding on tightly to!!

Fri, 04/29/2011 - 11:58 | 1220728 traderjoe
traderjoe's picture

Read the story again. It's about a Texan who doesn't listen, and thinks they know everything. 

If you have a personal price target of $3200, why would you sell now? Transaction costs will be 5% or so (buy and sell), and if you care, taxes will take out a chunk of your profits. You'd have to have a 10% or more move for it to make sense. 

You're troll-like because in any comment section I've seen you in, you flop and splash around a lot, taking up a majority of the conversation. If you really want to learn, listen more and if you have a genuine question that you have first researched, then ask. But it's not an advice section...

Fri, 04/29/2011 - 12:01 | 1220732 fiftybagger
fiftybagger's picture

19 Wherefore, my beloved brethren, let every man be swift to hear, slow to speak...

James 1
King James Version

28 Even a fool, when he holdeth his peace, is counted wise: and he that shutteth his lips is esteemed a man of understanding.

Proverbs 17
King James Version

Fri, 04/29/2011 - 12:09 | 1220766 Nostradumbass
Nostradumbass's picture

-

"If you truly knew me, you'd think I was the most humble, nicest, down-to-earth guy you'd ever met.  I've got no pretension and I ain't afraid to ask questions that I don't understand.  Sorry if you guys think that's a character flaw. I don't."

 

That's not a very humble statement for you to make!

 

You exhibit a level of naivete' that indicates to me and others here that you would do best getting your education on investing, trading and wealth preservation at some other sites first.

This is no place for the religious (unless AU/AG is your god   ; )    )

We are quite irreverent as a group here and you are FAR too easily offended.

Fri, 04/29/2011 - 13:27 | 1221137 ColonelCooper
ColonelCooper's picture

Yesterday he compared himself to "Christ Himself", I don't think humility plays a big role in this Pecker's everyday routine.

Fri, 04/29/2011 - 13:31 | 1221149 riley martini
riley martini's picture

 That means go read some books and not just the bible .

Fri, 04/29/2011 - 11:30 | 1220591 breezer1
breezer1's picture

don't be so fucking sensitive. start with the article here at ed steers re: greshams law and the dong.

http://www.caseyresearch.com/gsd/home

when you finish we'll have a big group hug.

don't trade your money (gold and silver) for bits of colored paper.

Fri, 04/29/2011 - 11:50 | 1220697 Creed
Creed's picture

hey gunslinger if you need cash sell some, that's what pm's are for in part; a savings vehicle & an insurance policy

but wait for the turdalicious window between 5/24 and say mid June & if it happens that way then say thank you to the turd in the big hat

Fri, 04/29/2011 - 22:54 | 1223075 New Survivalist
New Survivalist's picture

Sorry TG, this really isn't a place to learn with no foundation. You're waaaaaay behind the curve, friendo. Try MarketWatch. They had some great articles on the silver market today.

Fri, 04/29/2011 - 11:02 | 1220479 Fish Gone Bad
Fish Gone Bad's picture

If a person sells his gold and silver, what does one do with the now rapidly falling dollars?  Buy canned food?  Until there is somewhere safe to put the proceeds, it is probably best to leave the gold and silver alone.

Fri, 04/29/2011 - 11:10 | 1220521 Texas Gunslinger
Texas Gunslinger's picture

I ALREADY HAVE CANNED FOOD!!!!!!  I HAVE MORE CANNED FOOD THAN I WANT!!!!!!!!!!

I thought that maybe I could sell at this price, and buy it back cheaper. Someone near the top of this conversation said gold was going to pop, so I thought that maybe I'd should be safe and sell some gold to lock in my profit margins that I already have! You need to think like a CEO.   

I was just trying to time the market.  That's all. 

 

Fri, 04/29/2011 - 11:22 | 1220563 SoNH80
SoNH80's picture

If you learn one thing around here, learn that "timing the market" in precious metals is very, very risky.  You lose money when you sell (buyer's discount), and you lose money when you buy it back (seller's markup).  And, predicting the exact SHORT-term shape of the PM market in these volatile times is frankly, impossible, though some Top Guns here try it, for the challenge mostly.  The MEDIUM and LONG term trend? UP.  WAY UP.

Fri, 04/29/2011 - 11:38 | 1220645 Re-Discovery
Re-Discovery's picture

+ 1.  Patterns do develop, but not for faint of heart.  Times like these when a correction MAY be in the offing, it pays to watch/understand volume and price action and make "Buy dips" or "take profits" decisions on a more frequent basis based on your longer term investment view (although not necessarily trying to trade.)

Fri, 04/29/2011 - 13:43 | 1221212 Absinthe Minded
Absinthe Minded's picture

By pattern do you mean BTFD?

 

Long gold and silver.  

For a looonggg time.

Fri, 04/29/2011 - 11:32 | 1220604 gmrpeabody
gmrpeabody's picture

And just to add to your already confused state..., sometimes when people say something's gonna pop, they mean it might actually go higher.

Fri, 04/29/2011 - 11:40 | 1220642 Cognitive Dissonance
Cognitive Dissonance's picture

LOL

Would you please stop playing with your food and just eat? :>)

Fri, 04/29/2011 - 11:49 | 1220684 gmrpeabody
gmrpeabody's picture

"stop playing with your food..."

CLASSIC!

 

Fri, 04/29/2011 - 12:14 | 1220794 Cognitive Dissonance
Cognitive Dissonance's picture

I had visions of a cat batting around the mouse for some unexpected playtime before the mid day meal.

"Ah come on mom. This is fun. Just a few more minutes. Please?"

Fri, 04/29/2011 - 13:25 | 1221145 ColonelCooper
ColonelCooper's picture

Excellent!

Fri, 04/29/2011 - 11:32 | 1220613 Ruffcut
Ruffcut's picture

Then you "trading" gold if you sell and hope to buy back. IF you don't know what your doing, then don't.

NO WHERE WILL YOU GET GOOD ADVICE.

Guys like Jim willie have been talking gold for years. You think he is selling to buy a dip that never comes?

It is a buy and hold play.

I came in late and own no gold. I am a trader and the premiums are bullshit. I bought silver instead. So how are you going to sell and buy back physical with all the premiums? Each transaction will lose you money.

Go ahead and sell it the coin dealer so he can make the premiums and chump you out. Is he your buddy or soemthing? Yep, he is giggle buddy everytime you turn your back. HE thinnks your butt is cute.

Fri, 04/29/2011 - 11:36 | 1220630 Uncle Remus
Uncle Remus's picture

Refresh your memory - why did you buy physical to begin with?

Fri, 04/29/2011 - 11:39 | 1220648 Cognitive Dissonance
Cognitive Dissonance's picture

Because the bagger at Safeway told him too.

Wait a minute, that's a sign of a top. :>)

Fri, 04/29/2011 - 12:18 | 1220813 Abitdodgie
Abitdodgie's picture

I remember Safeway, and Asda and of course Sainsburys .

Fri, 04/29/2011 - 11:47 | 1220675 goldsaver
goldsaver's picture

Tex, let me give you a straight answer and some research links. Physical Gold and Silver are money. They are bought for generational wealth accumulation. It is there to transfer and safeguard your wealth to the next monetary unit once the current monetary unit, Federal Reserve Notes (aka FRNs,POSX, Bennybux, debt notes, confetti), dies.

http://fofoa.blogspot.com/

If you wish to "trade" I recommend you read some Turd Ferguson: 

http://tfmetalsreport.blogspot.com/

and then "trade" futures. Be very, very careful. Futures can rip you a new one very quickly. Turd has been very good on his predictions and if you follow him you can accumulate some notes (and use them to buy more physical).

 

Fri, 04/29/2011 - 12:00 | 1220724 Texas Gunslinger
Texas Gunslinger's picture

I went to that Turd Ferguson site last night.  

That guy is smart!  Great information there, too. 

Fri, 04/29/2011 - 12:12 | 1220780 Creed
Creed's picture

I went to that Turd Ferguson site last night.  

That guy is smart!  Great information there, too. 

 

 

 

 

see, I knew you weren't retarded

 

you're just pulling these assholes legs, one at a time; probably mine, too

 

keep up the good work, some of these clowns climbed Mt Hubris & think they made the view themselves

Fri, 04/29/2011 - 12:14 | 1220689 goldsaver
goldsaver's picture

.

Fri, 04/29/2011 - 11:53 | 1220703 Dollar Damocles
Dollar Damocles's picture

@ Texas Gunslinger.  I'll try and lay it out simply.

Gold could pull back tomorrow.  Or, it could shoot to 10,000 in a couple months.  Or it could keep trucking along at a steady pace.

Most of the people here understand that far more paper gold (and silver) has been sold than there is actual metal, so we are waiting for a huge fractional reserve fraud to BREAK!

So could gold pull back near term?  Absolutely.  But do you want to risk being out of the market for the black swan thats going to end the COMEX and the dollar and send gold to the moon?

Physical gold is insurance, and you don't trade insurance (and you don't put it in a bank safety deposit box either - I hope you know this).

If you want to trade, play around with the ETFs or something with a portion of your money but never sell your core position.  I am two thirds physical bullion, half silver half gold.  I have been since 2008 when I found GATA.  I trade around with ETFs and stocks, try and time dips or whatever, but I have never sold an oz of physical bullion and will not till their is blood in the streets and the DOW/gold ratio is 1-1.  Even then, I won't be selling it for green confetti that is for sure.

Fri, 04/29/2011 - 14:04 | 1221359 SWRichmond
SWRichmond's picture

I was just trying to time the market.  That's all.

OK, here's the short, short version of how I view physical: dips are for buying, but new highs are not for selling, until the fundamentals change. 

Keep firing until the targets change shape or catch fire.

I HAVE MORE CANNED FOOD THAN I WANT!!!!!!!!!!

No you don't, you only think you do.

Fri, 04/29/2011 - 14:22 | 1221448 RexZeedog
RexZeedog's picture

If you already have enough PM's to reach your comfort level, then wait for a pullback like we just had and increase your QTY by 10% (in other words if you have 1,000 Silver Eagles, buy 100 more). Then, IF AND ONLY IF, silver rises another 30% ABOVE the price of your additional 100 entry point, sell the additional 100. This is the only safe way to sell some of your silver without SNAFUing yourself. On the other had, if silver goes to $150 and stalls out, you could sell 1/2 of your entire position. If you do that, you'll lock in some gains and sill have plenty. What you can't do is sell ALL with the hopes of buying back for less. There's no way to tell if you'll anytime soon get another good entry point.

Fri, 04/29/2011 - 10:58 | 1220469 Magnix
Magnix's picture

No dude...if gold bubble pops then that will tell us America economy is recovering, but its not recovering at all. I would not SAVE/HOARD cash in your bank. I would spend most of most of them and buy more silver/gold for barter (trading goods) when dollars crashes for good. Dont sell them.

Fri, 04/29/2011 - 11:07 | 1220481 Magnix
Magnix's picture

dup

Fri, 04/29/2011 - 11:06 | 1220491 Magnix
Magnix's picture

dup

Fri, 04/29/2011 - 13:34 | 1221171 They_Live
They_Live's picture

I think you should sell, but timing is all. I think it goes something like this:

1-3 years for total western economic collapse

5-10 years of mass emigration west to east and western population die off

5-10 years for economic recovery and western renaissance.

Give or take you should be looking to sell around 2030, not for paper though, probably a plantation with "staff".

Fri, 04/29/2011 - 13:42 | 1221204 riley martini
riley martini's picture

 Don't worry be happy it's only money subject to fraud  and corruption in the hands of the moral hazzard crew. 

Fri, 04/29/2011 - 10:49 | 1220403 fuu
fuu's picture

Does this mean you are giving up on the TexasGunslinger persona?

Fri, 04/29/2011 - 10:51 | 1220411 Texas Gunslinger
Texas Gunslinger's picture

I don't even know what that means?

Should I sell my gold, or wait for a higher price?

Fri, 04/29/2011 - 11:50 | 1220448 nope-1004
nope-1004's picture

If you were a farmer at a cattle auction, would you stand up and say "should I sell my cows?"

You're in a public forum here, much like a cattle auction.  What kind of question is "should I sell my gold"?  Are you going to ask to go to the bathroom too?

 

Fri, 04/29/2011 - 13:01 | 1221027 narapoiddyslexia
narapoiddyslexia's picture

The phrase "I don't even know what that means" is typical of AI programs. I smell more Chicom psyops.

Fri, 04/29/2011 - 11:04 | 1220503 Hephasteus
Hephasteus's picture

Hmm. I need to find some fucking off advice.

http://uncyclopedia.wikia.com/wiki/HowTo:Fuck_Off

Fri, 04/29/2011 - 12:15 | 1220795 GoinFawr
Fri, 04/29/2011 - 11:09 | 1220512 Magnix
Magnix's picture

I wouldnt use your gold/silver as an investment. Use them to protect yourself and family.

Trading goods (Ammos, water, food, etc.). Ill be doooooomed if I sold all of my gold/silvers.

Fri, 04/29/2011 - 11:14 | 1220538 SuperRay
SuperRay's picture

yes! Sell all of your gold and wait for a pullback to get back in.  In fact, sell your gold to me. Unfortunately, I can't give the same premium you'd get from APMEX, but I will be happy to take it off your hands at today's closing price.  If you're interested, let me know and give me your email or phone number.  I'll be in touch today...

Fri, 04/29/2011 - 11:23 | 1220567 Texas Gunslinger
Texas Gunslinger's picture

No. I don't want to sell.  I was just trying to create conversation about it, but obviously that's impossible with you people.

This is an extremely tough crowd here, at this website. 

Fri, 04/29/2011 - 11:43 | 1220658 DeadFred
DeadFred's picture

TG somehow you got yourself labeled as a troll.  You seem legit to me so far but trolls are real common here and about as welcome as the clap.  If you are just a newbie wanting info give it some time and people will chill out toward you.  This site has a high libertarian slant and the belief is the banks/government plant trolls here to degrade the conversations.  Some here see you as one of those.  Be patient.  There is a lot of good info here along with some bovine fecal matter.  You need to learn to distinguish betwixt them.  Tyler does good research and has a number of sources who give accounts you'll never see on the main stream media.  Most of the people here don't much believe in paper, either fiat money or stocks, options or such but some like them in addition to holding physical metals.  You won't get much advice on timing for selling because most here will need to have their gold and silver pried out of their cold, dead hands.  As far as buying goes the uniform advice will be BTFD ( buy the f-ing dip).  Stay around for the PM advice but the broader info is even better.  Welcome.

Fri, 04/29/2011 - 11:54 | 1220716 Texas Gunslinger
Texas Gunslinger's picture

Thank you for your level-headed response.  You seem to be a man with a good heart.   

The more these libtards get cross with me, the more I want to stay.  I've always been a fighter, and I ain't backing down to a bunch of rude internet libtards who are probably homosexuals in disguise. If your heart is not in the right place, people do irrational things and act in an irrational manner.  It's always so easy to see who is a libtard, and who isn't.    

 

Fri, 04/29/2011 - 12:13 | 1220791 Terminus C
Terminus C's picture

I am curious... could you respond to a few questions please?

1. Do you believe in big government with lots of regulation and taxes or small government with limited influence on the economy and the people?

2. Do you value the right to freedom of speech, religion and movement or censorship and information control?

3. Do you believe in the right to govern your own life as an adult and that adults are inherently rational people capable of making their own decisions or that people are basically needing 'guidence' from their betters?

4. Do you believe in public ownership of property or private ownership of property?

Fri, 04/29/2011 - 12:18 | 1220810 falak pema
falak pema's picture

Now your colt is smoking hot. Its not "pray sweet Jesus" what you sing...It's homo-libtard hunting on the Net.  Good hunting, just don't get your nuts locked with your colt barrels or you could get a shock, a shot that'll be heard around the lone star ranch amongst all those texas cows, when you press the trigger like it was sweet Jesus juice.

Fri, 04/29/2011 - 12:37 | 1220907 Temporalist
Temporalist's picture

"Not that there is anything wrong with that."

Fri, 04/29/2011 - 12:49 | 1220981 ZFiNX
ZFiNX's picture

I, for one, think you are a troll on some kind of sick sociopathic bender.

Fri, 04/29/2011 - 16:06 | 1221948 Strider52
Strider52's picture

I agree. He's just a lonely old troll that is trying a new tack to see what kind of reaction he can get. Look at his responses and timing. You can see the pattern if you read between the lines. Besides, he knows what 'tard is, so he's been here a while.  

Fri, 04/29/2011 - 13:32 | 1221156 ColonelCooper
ColonelCooper's picture

The more you try to equate Libertarians with "libtards" (assuming you are coining Rush's phrase) you demonstrate that you are either too stupid or too ignorant to post here at all.

Fri, 04/29/2011 - 14:40 | 1221530 akak
akak's picture

I've always been a fighter, and I ain't backing down to a bunch of rude internet libtards who are probably homosexuals in disguise.

I guess if we were open homosexuals, out and proud, that would be OK with you though?

Fri, 04/29/2011 - 15:28 | 1221802 Absinthe Minded
Absinthe Minded's picture

"Any of you homos touch any of my stuff....and I'll kill ya."

Fri, 04/29/2011 - 20:49 | 1222822 robertocarlos
robertocarlos's picture

Take it easy Francis.

Fri, 04/29/2011 - 19:35 | 1222609 mick_richfield
mick_richfield's picture

I like it when you're so forceful.

:-)

 

Fri, 04/29/2011 - 11:43 | 1220659 breezer1
breezer1's picture

yes most of them are brutes. can we hook up later. i won't give my stats here but my condoms are custom made.

Fri, 04/29/2011 - 11:46 | 1220685 bingaling
bingaling's picture

You don't sell your gold when the price is up if you are in this for the long term . You buy MORE when the price comes down but YOU DO NOT SELL when the price goes up . why ?

1- The printing of the federal bank (run by Ben bernanke at the moment) is non stop -this cause high inflation along with high inflation high gold prices as long as Ben prints and has EZ money policy in place the price will continue to climb .

2 the Gov't debts are too big to pay back therefore the federal bank cannot stop its EZ money policy.

3. Every dollar is just debt added to the govt deficit .

4 . Every other money of every other country is just paper people put their faith in it that it is a good way to pay for something if that faith breaks . OLD money (GOLD) will be worth a hell of a lot of that paper in bad times .

5. don't think of gold in dollar terms . It will buy you one thousand loaves of bread yesterday today and tomorrow .

Hope that helps

Fri, 04/29/2011 - 12:09 | 1220767 cranky-old-geezer
cranky-old-geezer's picture

Then fuck off and come back when you grow some gonads ...if you ever do.

Yea, tough crowd here, love it, why I'm here.

Jeez, fucking whiners.

Fri, 04/29/2011 - 12:13 | 1220788 SilverRhino
SilverRhino's picture

>> This is an extremely tough crowd here, at this website. 

Welcome to fight club.   Best move is to read a LOT.  Be sparing with your caps lock and comment when it really means something.   (Or you just want to fuck with a troll)

Good luck and don't sell anything physical.

Fri, 04/29/2011 - 11:45 | 1220668 fuu
fuu's picture

Did you know your name is an anagram for: Enraging Sex Lust, Untangle Sex Rigs, and Learning Sex Tugs.

 

I am just going to go with SEC as your day job.

Fri, 04/29/2011 - 11:51 | 1220706 disabledvet
disabledvet's picture

ask yourself "if i were a gold farmer what would i do?" then proceed accordingly.

Fri, 04/29/2011 - 19:57 | 1222619 mick_richfield
mick_richfield's picture

Me, I would sell that land for a silver field.

Fri, 04/29/2011 - 10:54 | 1220421 wandstrasse
wandstrasse's picture

and do not forget, it takes only 5$ to get it out of the ground. Or was this silver?? does not matter, everything beyond 5$ is hysteria & bubble.

Fri, 04/29/2011 - 11:29 | 1220594 riley martini
riley martini's picture

 The USD is already collasping . I would over bet 90% of Americans haven't even hedged against the dollar dive . Hell I bet that most of the ZH silver bulls have over 80% USD including me or maybe 70%.

Fri, 04/29/2011 - 11:59 | 1220734 goldfish1
goldfish1's picture

You mean the USD?

Fri, 04/29/2011 - 10:33 | 1220336 Cognitive Dissonance
Cognitive Dissonance's picture

It looks like Silver is finally resting a bit and Gold is now carrying the water. That's fine with me just as long as the job gets done.

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