6232 replies to this topic
Posted 2008-10-21 09:23:10
 OlRedEyes, on 2008-10-20 15:21:20, said:
cloudhopper, on 2008-10-21 07:39:43, said: I wonder how Icelanders who have gold are doing these days? A lot better than most I imagine....
Exactly.
Seeing the woods from the trees comes to mind. Acting on very short term fluctuations in a major bear market that's just started is suicide, unless you're shorting. A quietish week and everyone turns into a buyer, quite funny if it wasn't so shortsighted. The last decade has made people forget that we are not supermen, that can wriggle our way out of disaster in a few short weeks. Everybody is straining at the leash to lose their money..... since the first day of the crash.
Excuse me but I do not understand either post. It is genuine or sarcasm? I am just curious.
Cloudhopper
I personally would guess the Icelander with gold would be doing very well if like most he physically held it & now could sell & get cash. Where all others who trusted paper in a bank are lost? True? Is that what you meant?
OlRedEyes
How do you mean? Do you mean good idea buying gold now or bad?
I know its a bear market but now I see a slight pull back in Gold but not sure how far it will drop. Again just curious 
Thanks
Posted 2008-10-21 12:04:16
flying, on 2008-10-21 09:23:10, said: Cloudhopper
I personally would guess the Icelander with gold would be doing very well if like most he physically held it & now could sell & get cash. Where all others who trusted paper in a bank are lost? True? Is that what you meant?
Yes.
Posted 2008-10-21 12:16:49
I would expect gold would be crashing now that many have invested in it and as this seems to be one of the last area of finacial wealth that hasn't been looted yet.
Posted 2008-10-21 15:14:33
colibra, on 2008-10-21 12:16:49, said: I would expect gold would be crashing now that many have invested in it and as this seems to be one of the last area of finacial wealth that hasn't been looted yet.
"All safe deposit boxes in banks or financial institutions have been sealed... and may only be opened in the presence of an agent of the I.R.S."
- President F.D. Roosevelt, 1933
Posted 2008-10-21 16:01:23
Posted 2008-10-21 23:12:20
The answer to the topic of this thread is DOWN!!! Gold is at around $770/ounce and headed south  All you goldbugs out there have had your perfect storm and Gold is headed lower, you had better sell now or be prepared to take some substantail losses as Oil heads below $50/bbl  Remember it was Vic who told you to short Oil in the upper $130's and to short Gold when it was around $1000/ounce, and at the same time I told you all to get long the Dollar, in hindsight it sure looks like very sage advice
Posted 2008-10-22 07:16:04
flying, on 2008-10-21 09:23:10, said: OlRedEyes, on 2008-10-20 15:21:20, said: cloudhopper, on 2008-10-21 07:39:43, said: I wonder how Icelanders who have gold are doing these days? A lot better than most I imagine....
Exactly.
Seeing the woods from the trees comes to mind. Acting on very short term fluctuations in a major bear market that's just started is suicide, unless you're shorting. A quietish week and everyone turns into a buyer, quite funny if it wasn't so shortsighted. The last decade has made people forget that we are not supermen, that can wriggle our way out of disaster in a few short weeks. Everybody is straining at the leash to lose their money..... since the first day of the crash.
Excuse me but I do not understand either post. It is genuine or sarcasm? I am just curious.
Cloudhopper
I personally would guess the Icelander with gold would be doing very well if like most he physically held it & now could sell & get cash. Where all others who trusted paper in a bank are lost? True? Is that what you meant?
OlRedEyes
How do you mean? Do you mean good idea buying gold now or bad?
I know its a bear market but now I see a slight pull back in Gold but not sure how far it will drop. Again just curious
Thanks
Anybody who confidently states that markets, gold, oil or whatever will go up or down should be far too busy trying to spend his billions to be posting here on TV. He'd be lounging on the beach of his private island, surrounded by employees and sexy hangers-on.
The markets are in turmoil. Bernanke has got his begging-bowl out again at Congress. Toyota is struggling. GM is in crisis. Taxpayers (non-existent?) money is being thrown around like confetti worldwide. Chinese factories are closing. We are simply at the beginning of the recession (optimistic term).
Nothing goes up or down in a straight line. Charts are only useful in a stable market, where speculators act in tandem (concert?) to resistance and support points. Once panic sets in and nervousness is universal, charts simply reflect history.
I simply believe that gold's downside is limited. Something which cannot be said for stocks, or even cash. If things get worse, which they very well may, gold could rise substantially. In this worldwide scenario if you can limit your losses you're doing well.
Pronouncing on daily or weekly price fluctuations in a confused and nervous market is folly. Those that want to make a reputation declaring where gold was a week ago compared to today are simply gambling. Gives them a heads/tails chance of being able to say they are right, and doesn't in any way reflect intrinsic skill or knowledge.
You either pays your money and takes your chance, or you look at all the factors and pays your money and takes your chance. Second option gives you a little better odds.
With a nic like VegasVic I'd be careful There are only two options, up or down, a 50% chance of jackpot. Enticing odds for anyone who loves Vegas.
Edited by OlRedEyes, 2008-10-22 07:25:17.
Posted 2008-10-22 07:43:03
OlRedEyes, on 2008-10-21 14:16:04, said: Anybody who confidently states that markets, gold, oil or whatever will go up or down should be far too busy trying to spend his billions to be posting here on TV. He'd be lounging on the beach of his private island, surrounded by employees and sexy hangers-on.
Thanks I agree Hey I am on an Island though I do not own it 
I do have one very sexy hanger on but she would not like to be called that 
OlRedEyes, on 2008-10-21 14:16:04, said: I simply believe that gold's downside is limited. Something which cannot be said for stocks, or even cash. If things get worse, which they very well may, gold could rise substantially. In this worldwide scenario if you can limit your losses you're doing well.
I feel the same way. I have been wanting to get into gold.
But have no luck finding any at all. I am still searching.
Like you I find no real downside & it is a heck of a lot better than stocks.
Some say it will go down but then what? The spread will go where?
There is none to be found....really
Well actually I have found a little krugerrands but not nearly what I wanted. They tell me for other coins 3 months & the mints will do 2009 coins but I do not want to pay now & wait 3-4 months. But that may be the only option.
Posted 2008-10-22 07:52:13
flying, on 2008-10-22 07:43:03, said: OlRedEyes, on 2008-10-21 14:16:04, said: Anybody who confidently states that markets, gold, oil or whatever will go up or down should be far too busy trying to spend his billions to be posting here on TV. He'd be lounging on the beach of his private island, surrounded by employees and sexy hangers-on.
Thanks I agree Hey I am on an Island though I do not own it
I do have one very sexy hanger on but she would not like to be called that
OlRedEyes, on 2008-10-21 14:16:04, said: I simply believe that gold's downside is limited. Something which cannot be said for stocks, or even cash. If things get worse, which they very well may, gold could rise substantially. In this worldwide scenario if you can limit your losses you're doing well.
I feel the same way. I have been wanting to get into gold.
But have no luck finding any at all. I am still searching.
Like you I find no real downside & it is a heck of a lot better than stocks.
Some say it will go down but then what? The spread will go where?
There is none to be found....really
Well actually I have found a little krugerrands but not nearly what I wanted. They tell me for other coins 3 months & the mints will do 2009 coins but I do not want to pay now & wait 3-4 months. But that may be the only option.
Disclaimer : I do not advise anybody to go into anything. I simply state my views, which may turn out to be right or wrong.
Dunno which island you live on, but here on mine I can ask my sexy hanger-on to get on her Honda Ferrari and go buy some fat heavy gold chains for you, so just send your money 
Posted 2008-10-22 07:57:28
OlRedEyes, on 2008-10-21 14:52:13, said: Dunno which island you live on, but here on mine I can ask my sexy hanger-on to get on her Honda Ferrari and go buy some fat heavy gold chains for you, so just send your money
Hahah yes I thought of doing something similar with mine. But we are here in the US now on a pacific island As much as I love the folks back home I dont think I will do chains by mail
Posted 2008-10-22 08:06:41
flying, on 2008-10-22 07:57:28, said: OlRedEyes, on 2008-10-21 14:52:13, said: Dunno which island you live on, but here on mine I can ask my sexy hanger-on to get on her Honda Ferrari and go buy some fat heavy gold chains for you, so just send your money
Hahah yes I thought of doing something similar with mine. But we are here in the US now on a pacific island As much as I love the folks back home I dont think I will do chains by mail
Hmmm... Chains, mail, sexy hangers-on. Starting to get my interest here...
chainmail.jpg 4.66K
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Posted 2008-10-22 08:12:27
OlRedEyes, on 2008-10-21 15:06:41, said: flying, on 2008-10-22 07:57:28, said: OlRedEyes, on 2008-10-21 14:52:13, said: Dunno which island you live on, but here on mine I can ask my sexy hanger-on to get on her Honda Ferrari and go buy some fat heavy gold chains for you, so just send your money
Hahah yes I thought of doing something similar with mine. But we are here in the US now on a pacific island As much as I love the folks back home I dont think I will do chains by mail
Hmmm... Chains, mail, sexy hangers-on. Starting to get my interest here...
chainmail.jpg 4.66K
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hahaha see even your pic girl couldnt find any gold This has some
http://images.buycos...diser/20951.jpg
Posted 2008-10-23 17:29:12
Interesting article - short term negative on gold long term positive - I would like to know how long is short term and what price are we going to get to when the selling stops .
http://www.mineweb.com/mineweb/view/minewe...8&sn=Detail
Posted 2008-10-23 17:47:57
churchill, on 2008-10-23 17:29:12, said:
I read that as him saying it will be either bullisn or bearish in the short term.  No one can argue with that. Well I guess it could stay flat. Buy mining stock and you will normally be investing in more than one metal.
I have 2 Krugerands and a Canadian Mapleleaf I will trade for a nice condo in BKK. 
Posted 2008-10-23 21:05:48
Where Is Gold Going In This Market?
it looks like Gold is going nowhere 
Posted 2008-10-23 21:20:51
Naam, on 2008-10-23 21:05:48, said: Where Is Gold Going In This Market?
it looks like Gold is going nowhere
It's going where the great derivatives unwinding takes it. Same as everything else.
Posted 2008-10-23 21:59:04
Naam, on 2008-10-23 21:05:48, said: Where Is Gold Going In This Market?
it looks like Gold is going nowhere
Lanna is corrct, the hedge funds and derivative contracts are still unwinding and this means the current trend will continue That means the Dollar continues higher, Oil continues lower, and gold continues lower (it dipped its feet below $700 in early trading in the states), I would imagine that we will see gold below the $670 level that I predicted in late august 2007(OK so I was 2 months off) BTW where are all the gold bugs (and their $1500 gold predictions) like livininLOS and CClub and the others, they seemed to have dissappeared from tv, I hope they are all right? It looks like $1.60 will be tested on the pound today and $1.27 on the Euro.
Posted 2008-10-24 01:19:09
VegasVic, on 2008-10-23 04:59:04, said: Naam, on 2008-10-23 21:05:48, said: Where Is Gold Going In This Market?
it looks like Gold is going nowhere
Lanna is corrct, the hedge funds and derivative contracts are still unwinding and this means the current trend will continue That means the Dollar continues higher, Oil continues lower, and gold continues lower (it dipped its feet below $700 in early trading in the states), I would imagine that we will see gold below the $670 level that I predicted in late august 2007(OK so I was 2 months off) BTW where are all the gold bugs (and their $1500 gold predictions) like livininLOS and CClub and the others, they seemed to have dissappeared from tv, I hope they are all right? It looks like $1.60 will be tested on the pound today and $1.27 on the Euro.
You meant Aug 2008?
I woke to see the new gold price & glad I couldn't find anything in the sizes I wanted a few days back Not surprising that I now see some krugerrands available but..........+9% over spot  I will continue to wait.
Silver is holding nice though
Posted 2008-10-24 02:13:41
flying, on 2008-10-24 02:19:09, said: VegasVic, on 2008-10-23 04:59:04, said: Naam, on 2008-10-23 21:05:48, said: Where Is Gold Going In This Market?
it looks like Gold is going nowhere
Lanna is corrct, the hedge funds and derivative contracts are still unwinding and this means the current trend will continue That means the Dollar continues higher, Oil continues lower, and gold continues lower (it dipped its feet below $700 in early trading in the states), I would imagine that we will see gold below the $670 level that I predicted in late august 2007(OK so I was 2 months off) BTW where are all the gold bugs (and their $1500 gold predictions) like livininLOS and CClub and the others, they seemed to have dissappeared from tv, I hope they are all right? It looks like $1.60 will be tested on the pound today and $1.27 on the Euro.
You meant Aug 2008?
I woke to see the new gold price & glad I couldn't find anything in the sizes I wanted a few days back Not surprising that I now see some krugerrands available but..........+9% over spot I will continue to wait.
Silver is holding nice though
And how about the realative price of Gold stocks in relation to Gold? Massive dumping going on:
goldxau.png 144.52K
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Posted 2008-10-24 06:02:38
lannarebirth, on 2008-10-23 09:13:41, said: And how about the realative price of Gold stocks in relation to Gold? Massive dumping going on:
Do you think that is because governments may be selling gold to help in their spending/bailouts?
Posted 2008-10-24 06:27:06
flying, on 2008-10-24 01:02:38, said: lannarebirth, on 2008-10-23 09:13:41, said: And how about the realative price of Gold stocks in relation to Gold? Massive dumping going on:
Do you think that is because governments may be selling gold to help in their spending/bailouts?
A quote today:
"'Investors worldwide are selling everything, including the kitchen sink, and gold is no exception.' — Peter Grandich, Agoracom"
Here's a -gold related- link; #1 most popular read: The Wall Street Journal/MarketWatch, Oct. 23 :
http://www.marketwatch.com/news/story/gold...ist=SecMostRead
LaoPo
Edited by LaoPo, 2008-10-24 06:32:10.
Posted 2008-10-24 07:40:47
LaoPo, on 2008-10-23 13:27:06, said: [
A quote today:
"'Investors worldwide are selling everything, including the kitchen sink, and gold is no exception.' — Peter Grandich, Agoracom"
Here's a -gold related- link; #1 most popular read: The Wall Street Journal/MarketWatch, Oct. 23 :
http://www.marketwatch.com/news/story/gold...ist=SecMostRead
LaoPo
Thanks Good Article
Posted 2008-10-24 08:07:16
Posted 2008-10-25 11:57:43
VegasVic, on 2008-10-23 14:59:04, said: Naam, on 2008-10-23 21:05:48, said: Where Is Gold Going In This Market?
it looks like Gold is going nowhere
Lanna is corrct, the hedge funds and derivative contracts are still unwinding and this means the current trend will continue That means the Dollar continues higher, Oil continues lower, and gold continues lower (it dipped its feet below $700 in early trading in the states), I would imagine that we will see gold below the $670 level that I predicted in late august 2007(OK so I was 2 months off) BTW where are all the gold bugs (and their $1500 gold predictions) like livininLOS and CClub and the others, they seemed to have dissappeared from tv, I hope they are all right? It looks like $1.60 will be tested on the pound today and $1.27 on the Euro.
Getting very close to that $670....But is $550 round the corner?
Posted 2008-10-25 12:01:59
ace, on 2008-10-24 18:57:43, said: Getting very close to that $670....But is $550 round the corner?
I saw it hit 682 last night & thought Yeah !! Maybe I can buy tomorrow.
But woke up & it was up 50 already
I finally found some & it is still there but I want to get a bit lower in price.
We will see....maybe I will regret it.
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