Ha Ha. What's up Joe? Sorry I haven't been around much, super busy lately. In fact I'm putting together a pitch to the UMASS endowment fund. I need to get them invested in gold. I wish I could share their portfolio with you guys, it's truly a mess. Joe, it'll give you a bigger laugh than Ax can.
That last one was great though. Remember about a month and a half ago when Yamana was at $19+ and he put the arrows up saying no big corrections until $26. Maybe I should incorporate some of his arrows in my presentation. Ha Ha.
So far I'm on the sidelines until I see where the general trend is going. I still think we could see sub 900 for a few days, I plan on shopping then.
A general question for you Joe. I know you read Market Ticker, I've been keeping up lately too. I just read his 2008 preview and he is predicting severe deflation and a general top to commodity prices. I agree with him to an extent, but I believe that whether it is inflation or deflation gold/silver will prevail as money and not deflate with other commodities. If we enter a deflationary scenario are there any asset classes you will be moving your core positions to? What is your prediction, inflation or deflation? Anyone else??
If anyone follows Harry Dent or not buy he's saying inflation followed be deflation, so the answer may be both.
Also wondered is anyone here not from the Northeast...I'm in Maine as of last month and Ct before that...mdp
Also cyclist is still saying the same things with gold at 1600 and silver at 40/50 buy end of may/june with the main turning point being time as apposed to price.
Time will tell...one thing for certain this country is not going to suddenly become fiscally responsible..
I am a california guy. Live on the Monterey Peninsula. I might be the only non east coaster. :)
I went to school out there though! Cant say I miss it really.
I am exceedingly tired of this crap we see day after day with metals. Dollar goes up, gold down. Oil goes down, gold down. Market goes down, all our miners go down. I think we are all intelligent investors and traders, but it is like playing somebody that has a stacked deck and four others in collusion at the table.
Definately a stacked deck..yesterday market up and 10 year note down? Im not that savvy but don't understand that.
Short term manipulation is does not change the trend just the bumps it seems, same as today with horrible financial news and the futures up. We will see how the day ends.
Many were forcasting a 16% correction for gold which is about where we are, so it sucks when it happens but all that elliot wave stuff seems to have some bearing on movement although not precise.
And as I look out my window at 2 feet of snow Ca. is sounding good to me too..
Oh I know it Ron! I'm about to have a melt down here! I'm trying to buy some calls but keep getting an error message telling me that options trading is temporarily unavailable. So then I try to call Scotty directly and keep getting busy signals. Oh well, hopefully it stays down long enough for me to pick up a few calls.....
The top of the channel for the s@p seems about 1350, curious to see if it turns it around and stops the advance or if we go thru..going thru would seem like a change in trend from down to up for more than a few days, something to ponder.
Also cyclist just posted 850 gold coming up and will act as a slingshot for the next move up...just passing it along for whoever cares...lol
I'm new to this site having seen a reference to it at GIM. I've enjoyed everyone's commentary. Its been quite helpful.
In regards to comments referring to the "Cyclist," could someone please provide a link or other information as to how I could can gain access to the Cyclists comments.
On what basis is the dow rallying? Top 3 headlines are all about banks write-downs yet again. But this time investors have been able to "look past it." Ha Ha. I'll be buying SKF again at $105 range. It will be back to $120 in no time.
Anyone else feeling scared about the POG? Usually that signals a time to buy.
Thanks MDP, I follow cyclist myself, keep us updated for sure. Here is the link to his thread on kitco, CK.
Ya I agree Ron, but it's funny because they only needed to raise capital, because they have liquidity problems. UBS rallying as well because they raised capital. But they just took another huge write-down and an executive had left. But they somehow spin this as positive when an executive quits? Looks like someone is running for cover before this gets a lot worse. I think everyone agree this is all a smoke and mirrors show and we will see dow sub 12,000 very soon.
20 comments:
Ha Ha. What's up Joe? Sorry I haven't been around much, super busy lately. In fact I'm putting together a pitch to the UMASS endowment fund. I need to get them invested in gold. I wish I could share their portfolio with you guys, it's truly a mess. Joe, it'll give you a bigger laugh than Ax can.
That last one was great though. Remember about a month and a half ago when Yamana was at $19+ and he put the arrows up saying no big corrections until $26. Maybe I should incorporate some of his arrows in my presentation. Ha Ha.
So far I'm on the sidelines until I see where the general trend is going. I still think we could see sub 900 for a few days, I plan on shopping then.
A general question for you Joe. I know you read Market Ticker, I've been keeping up lately too. I just read his 2008 preview and he is predicting severe deflation and a general top to commodity prices. I agree with him to an extent, but I believe that whether it is inflation or deflation gold/silver will prevail as money and not deflate with other commodities. If we enter a deflationary scenario are there any asset classes you will be moving your core positions to? What is your prediction, inflation or deflation? Anyone else??
Thank you in advance.
Cheers
Anyone considering shorting LEH? It's been in the media lately. Another BSC? Not looking good.
If anyone follows Harry Dent or not buy he's saying inflation followed be deflation, so the answer may be both.
Also wondered is anyone here not from the Northeast...I'm in Maine as of last month and Ct before that...mdp
Also cyclist is still saying the same things with gold at 1600 and silver at 40/50 buy end of may/june with the main turning point being time as apposed to price.
Time will tell...one thing for certain this country is not going to suddenly become fiscally responsible..
mdp,
I am a california guy. Live on the Monterey Peninsula. I might be the only non east coaster. :)
I went to school out there though! Cant say I miss it really.
I am exceedingly tired of this crap we see day after day with metals. Dollar goes up, gold down. Oil goes down, gold down. Market goes down, all our miners go down. I think we are all intelligent investors and traders, but it is like playing somebody that has a stacked deck and four others in collusion at the table.
Definately a stacked deck..yesterday market up and 10 year note down? Im not that savvy but don't understand that.
Short term manipulation is does not change the trend just the bumps it seems, same as today with horrible financial news and the futures up. We will see how the day ends.
Many were forcasting a 16% correction for gold which is about where we are, so it sucks when it happens but all that elliot wave stuff seems to have some bearing on movement although not precise.
And as I look out my window at 2 feet of snow Ca. is sounding good to me too..
mdp
SKF down 7% this AM!
Oh I know it Ron! I'm about to have a melt down here! I'm trying to buy some calls but keep getting an error message telling me that options trading is temporarily unavailable. So then I try to call Scotty directly and keep getting busy signals. Oh well, hopefully it stays down long enough for me to pick up a few calls.....
The top of the channel for the s@p seems about 1350, curious to see if it turns it around and stops the advance or if we go thru..going thru would seem like a change in trend from down to up for more than a few days, something to ponder.
Also cyclist just posted 850 gold coming up and will act as a slingshot for the next move up...just passing it along for whoever cares...lol
mdp
Hey Joe, Just been laying low cuz of health. Gettin' better but have a ways to go. Be nice to Ax, OK? LOL!!
Hi guys,
I'm new to this site having seen a reference to it at GIM. I've enjoyed everyone's commentary. Its been quite helpful.
In regards to comments referring to the "Cyclist," could someone please provide a link or other information as to how I could can gain access to the Cyclists comments.
Thank you in advance for your help.
Good trading,
CK
He has a thread in the kitco.com gold section...
mdp
On what basis is the dow rallying? Top 3 headlines are all about banks write-downs yet again. But this time investors have been able to "look past it." Ha Ha. I'll be buying SKF again at $105 range. It will be back to $120 in no time.
Anyone else feeling scared about the POG? Usually that signals a time to buy.
Thanks MDP, I follow cyclist myself, keep us updated for sure. Here is the link to his thread on kitco, CK.
https://www.kitcomm.com/showthread.php?t=85&page=702
DOW is rallying because LEH raised money in a preferred stock offering. So, that tells the sheeple that there's still confidence in paper....
Curious as to the volume of the rally...anyone have statistics...all indices at top of thier channels....either ready for a forty point skf run or ?
mdp
Ya I agree Ron, but it's funny because they only needed to raise capital, because they have liquidity problems. UBS rallying as well because they raised capital. But they just took another huge write-down and an executive had left. But they somehow spin this as positive when an executive quits? Looks like someone is running for cover before this gets a lot worse. I think everyone agree this is all a smoke and mirrors show and we will see dow sub 12,000 very soon.
Where you been all morning Joe? Is that you over on Ax's thread starting up arguments? Ha Ha.
Peter, I think the market needs to realize what "today" is...or they will soon enuf....
Gentlemen, let's not forget that virtually every single bank will be reporting their quarterly results between the 7th and the 18th...
Thanks mdp and peter. I've located the cyclist's thread.
Good trading,
ck
I'm an "East Coaster" so to speak but waayyy down in S. Fla.
Yeah an I'm feeling kinda green this morning too as I bought a bunch of SKF yesterday as well.
Just debating if I should add to it now or dump it and rebuy it later.
Much chance of this trend continuing for a while?
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