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I've given up trying to trade this crap in new york which is the only center in the world that sells it, every God damned day.
I just buy the coins and am waiting for the complete disconnect from the lousy paper gold.
Where the hell did Bangladesh get $400m to buy 10t of gold? Something doesn't smell right, here.
Actually they do have the money. Bangladesh has:
External Debt: $23bn
Annual Govt tax revenues: $11bn
Annual Govt expenditures: $16bn
Total Govt reserves: $10.3bn (at 31/12/09)
Their debt/gdp ratio looks better than ours!
10 tons of gold is about 320,000 oz, a drop in the bucket. Nothing to see here. Move along!
(2 minutes in)
Could anybody be this incoherent?
Triple Top...Distribution market....Dollar going up....Gold under pressure...Soros is selling...Gold will pull back to 1075....not a safe haven....pullback here.
Translation: Rally time!!!
I don't take financial advice from televangelists.
I tried trading my shares on this last PM rise. Made a mess with my cleverness. Should have just held my positions. It's a crap shoot. The dips are suddenly very shallow compared to the past two years. Consolation is we are aware well ahead of the herd.
I'm sick of saying this : you can eat gold. See further --
That must wreak havoc on the digestive system... hahaha, I wonder if the carats really improve eyesight?
The banks know what's coming. They sell at the top, and buy at the bottom.
Sure, they manipulate the market, but that's even more of a reason to stay out of the market altogether.
Still, they know which direction the wind is blowing in.
They're offloading the gold at top dollar.
Like they did to India, when it was what... $1040?
I'm sure the Indians feel ripped off with their 200 tonnes at that "top dollar" price.
You'll see what's coming in gold, very soon.
The GLD is already turning back down, and the rising wedge failed to make a new high.
It's go time.
I'll make a promise right here and now. If gold hits the Cup and Handle target of 1450, I'll never post here again.
if the rising wedge plays out, I expect some respect.
No, Johnny Bravo, do not self-censor yourself! Keep us advised re your perspective re Gold. I value your perspective...
If Gold goes to $1450, well OK, matters not to me. If it goes to $900, then I back up the truck.
I still keep VXX in my sights... I may snipe soon despite my rather dismal record as a speculator.
Shi'itesky! Gold goes to $900, I will go to 10% in physical gold REAL FAST!
You're one of the few people here that value that perspective.
That's why I want to leave if I'm wrong, as a sign of good faith. If I'm right, I hope to be acknowledged as such.
As far as VXX, I think it might be a good trade for the next couple of days. I think that the markets are turning south, but not for very long.
If the support at 1085ish on S&P breaks, I'd really buy it then.
I like to trade also Johnny, I like your post.Not a chart guy, I read alot, quick look at charts before I trade. And I think the market will be above 12,000 nov. of next year due to inflation, and better than expected rebound.
A friend of mine works for a large trucking broker in the tri-state midwest area. He has been doing better and better,every month baby steps, another friend own's a large manufacturing plant, Cat is going to start giving him overflow work at the end of this month. Cat's mining sales growing very quickly, another good sign.
South America booming.Not everything is gloom and doom.
See? Not everything is so bad. I'm glad that somebody else can see that.
The transportation has been coming up for a while now. And I also think that even though our economy has been slowing, it has been because everybody has been expecting a mid-recovery slowdown. I think that that slowdown is already here, and now people are starting to look for the future.
My buddy's HVAC business is doing a lot better than it was a year ago.
South America is probably the best place to put money if you have mutual funds. The T Rowe Price Brazil fund has been the best performer for a couple of years now.
Anyway, glad to see you agree!
Also, I used to use that exact avatar for a long time... I stole it from the evil speculator. You read him at all?
No I just finished Den of Thieves...
M.Milken, I.Boesky all the same tricks over and over and over.
Johnny, I was just looking around on Newsvine and it looks like they really want you back over there.
Since you are clearly the king of junk on ZH, BEAT IT!
Actually it looks like "Gangland" might catch up to you. Better stick around to preserve your legacy.
@ Bravo, Peru is doing very well. The Peruvian Sol is now at a record vs. the dollar. Our business there is doing great, our only real problem is getting the exact bearings we need, the ones that sell the best!
Even though I have grave doubts about .gov and the banksters (and so am always looking at buying Gold when $ come in), it REALLY IS better for our country if they pull us out of this. Can / will Obama do it? I highly doubt it. But, I am not a good a predictor of the future, just a very cautious guy having gotten burned (but lightly), and I really want my kid's future secure.
That's my job (and hers).
I read where miners are scrambling to get more equipment so they can cash in on the coming gold rush. Trucking companies that survived cut way back. US Xpress emptied it's OKC terminal, just kept the shop going. The big carriers cut back training because there was a surplus of experienced OTR drivers. It's not back to normal, just better than it was.
God help me but I agree with JB....short term gold down and the DXY up...
Even I agree, Gold goes down a bit. Correction is correction. Dollar up is just part of the unwind and hysteria equation. I sit and wait to back the truck up, like our "ball bearing" friend posting above. :-)
My truck is more like a little red wagon, but I'm backing it up as well.
Gold goes down, and that "beep, beep, beep" sound is my truck backing up...
I have to agree, these corrections are great opportunities to add to our positions but also a great time for newbies to diversify into gold/silver.
OK, you will defintely get respect if Gold hits $900 before it hits $1450. I personally hope you are right, since I am not a trader and will soon be getting some cash. The metrics I use is gold/unit labor and it has been steady for decades in the foreign currency I track.
To be fair you did pick the last intermediate top at $1265 a few months ago.
Not to parce words, but I don't think it'll quite hit 900. I'd say 950ish is more realistic. It might not even break 1000.
You'll definitely be able to buy lower, I think. I think that technicals for gold are pretty bearish for a while, but that doesn't mean forever either...
There is a major correction coming, IMO.
Thank you SO much for acknowledging that I picked that top. It's nice to get respect from somebody!
Quit feeding the strays, folks. Read the first comment under the 'Genetics Of Investing - Kill The Messenger': "I'm really not trolling here, I promise", (our own starling, JB)
Can you make that $1248?
If you don't have anything nice to say... Go fuck yourself.
I want to hear more about the job fairs from the resident dbag
Read more: http://www.coloradodaily.com/rss/ci_14885692#ixzz0z35v9lYS Coloradodaily.com
"I'll make a promise right here and now. If gold hits the Cup and Handle target of 1450, I'll never post here again."
You are on.
"if the rising wedge plays out, I expect some respect."
Fair enough, I'll accept that too. If it hits $900, I'll show some.
Let's see where we get to first.
I don't say quite 900, but otherwise, I'll hold to everything else you said.
If there's a 200-250+ move downward, I want respect.
If it hits 1400 first, I'll leave. Kay?
Stay, go, do as you wish. Show some humility and stop placing so much importance on yourself.
Your smugness has kept you from seeing that half the "Goldbugs" here have agreed with you that gold is gonna take a huge hit. We just believe it's gonna skyrocket after that. And when it does, your technicals won't matter anymore.
You're either a college student as you say or a shill/troll, either way you have no skin in the game anyway so don't count on ever gaining any respect.
I have already explained to you guys that Bravo and his boss JonNadler are Senior VPs over there at JPM, and their $10,000,000 bonuses are in peril if Gold does not go down to, well OK, $950.
College student, mi culo! :)
20-25 more like, i doubt it'll break 1100 ever again.
Not sure how much gold is going to go down but I agree, it looks like we're in for a down leg. Daily charts are posting a lower low. MACD showing a bearish crossover. Bearish divergence on the Stochastics a couple of days ago. Weekly showing a double top. Looks as if the winds are changing/changed directions.
So, gold goes up 20% in the 10 months since they bought it and they got ripped off? Maybe they should have bought General Motors stock or 30 year treasury bonds at 3% or Greek bonds? They've still got a couple good months to beat an annual 20% return. The Dow's up .12% for the year.
Central banks have been buying lately and the IMF is selling gold because it's almost broke.
Do your research.
Like I said a minute ago.
If gold hits its "cup and handle" target, I will never post here again.
If the rising wedge breaks down, I want to hear all the haters say I was right.
I don't care if you stay or if you go.
Just do your research, the deck is stacked in favor of gold going up.
I disagree wholeheartedly. Look at the charts. There are massive divergences, and a very bearish pattern (rising wedge) on those charts.
I do research in a different way. The same way that HFT computers do research. Technical Analysis. It's much more reliable.
You're stuck in the matrix, dumb-ass.
What the fuck does that even mean?
Maybe I like to base my investing on reality, instead of movie themes.
Watch gold drop tomorrow, dumb-ass.
And the S&P too...
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