Soon! GLD a buy!

COINB0Y

I'm Buying Some

storm888

If you are looking at what seems like it might be a double-bottom,
my most bullish guys are telling me it cannot be confirmed.

While most of them covered this morning, not all of them did.

I did not cover, but I might tomorrow if it tanks further.

/////////////

I will not go LONG of GLD until gold is shallow into the $600s.

I think waiting a little bit is wise; even if we miss the first
part of a run.

Also, I won't buy more than 200 shares at a time.

COINB0Y

The print at $66 says you had better cover, storm.

Text Book Retracement!

I'm in at $71.23 and that was a hard fill.

I'll give it a 2% leash

Out w/ 2% Loss.

Wow, going Lower to mid-60's!

storm888

That $66 number is what got my cubicle-neighbors started
on covering, BUT it must have been a small series of arranged
sales because they did not get it at close to that number.

It looks like I should have jumped.

Such is life.

Maybe tomorrow.

COINB0Y

Yeah, the Market Maker took out the stops of the dummies who where stupid enough to leave them in place.

That said, thats a good thing, meaning they needed the shares.

jamakin

I wouldn't touch gold /silver until the lease rates come down.
When gold or silver lease rates spike the price drops.
When one leases gold ,the contract is bullion for bullion exchange. You borrow 1000 ounces you pay back 1000 ounces plus interest(currently spiking to 3%). When the rates spike it pays to lend out your gold and get the interest. The borrower the dumps their gold on the market and depresses the spot price. They then buy back the borrowed gold cheap to repay the lender and make a profit. It is a vicious cycle , The more you dump the cheaper it becomes to pay back your lender.
High lease rates kill spot price. Until the lease rates come down and levels out the price of gold and silver will continue to drop. I'll be a buyer when the lease rates are back down.

Bear

I kinda have a feeling that if the DOW drops

to 7000, then we will see gold at a lower price.

This will be due to folks selling PMs to cover margin

calls.

roadrunner

Is there anyone left at this point who is long gold on margin and yet maintains a physical stash to boot? One would think that those people closed out as we dipped under $800-$850.

roadrunner

ziggy29

<< <i>Is there anyone left at this point who is long gold on margin and yet maintains a physical stash to boot? One would think that those people closed out as we dipped under $800-$850. >>

I'm wonder if anyone had the foresight to short GLD and go long an equivalent value of physical gold a few months ago. That would be a pretty sweet trade right about now. Might be a good time to consider selling the bullion and covering the short, at least if you think the spread will drop.

storm888

"Is there anyone left at this point who is long gold on margin and yet maintains a physical stash to boot?..."

///////////////////////////////

In a few minutes, maybe.

........

Information/opportunity overload seems to be taking over, where I am.

There are so many "perceived" bargains, nobody knows what to do.

I may do nothing on PMs, but I am tempted to SHORT more SLV. I have
never tried it this low before, but an OPEC production cut should knock
silver down a little; it might be OK for just a trade.

............

As soon as we see $650+/- gold, it will be time to start building a GLD
LONG position, in tiny little bites. (If I cover today, I may start mine a
little early.)

...........

MOO, DUG, DIG are still viable holds. MOO is good to buy tiny bites
on continued weakness; folks have to eat.

SKF is only safe during the day. Close at night, open in the morning.

I love M down here, but I am a little skerred. It is critical to keep in
mind that cheap prices do not always mean "bargains."

If FRPT gets an order soon, it will pop. Could be bought out by GD.

AA was over $47 in 2007-summer. $9+ today. Aluminum fell of a
cliff and electricty soared. Probably safe to buy a little for retirement
accounts, but they have EXPENSIVE union issues and TERRIBLE
management.

My X trade is not working, but I still like it.

DOW should be way above 10K, by XMAS. Maybe much higher, BUT
maybe it tanks more.

DANGER everywhere. And, opportunity.

fishcooker

I still think it's risky to ignore the ramifications of the election.

storm888

<< <i>I still think it's risky to ignore the ramifications of the election. >>



///////////////

There will be a "temporary" secular stock-rally, regardless of which party wins.

IF there is "civil unrest" following the election - and troops are used - the PMs
should get a temporary boost.

mrmojorisin

what do you think of MOS?

thanks

storm888

<< <i>what do you think of MOS?

thanks >>



///////////////////////////////////////////////

I am a TERRIBLE picker. Skilled trader, BAD picker.


MOO is my MOS play, currently.


MOO TOP 10 HOLDINGS ( 61.34% OF TOTAL ASSETS)

Company Symbol % Assets

AGRIUM INC. AGU 4.41
ARCHER DANIELS MDLND ADM 4.47
BUNGE LTD BG 4.3
DEERE CO DE 9.25
KOMATSU Ltd N/A 4.03
MONSANTO COMPANY MON 8.25
POTASH CP SASKATCHEW POT 7.48
SYNGENTA AG ADS SYT 8.25
MOSAIC COMPANY (THE) MOS 6.8
Wilmar F34.SI 4.1

//////////////////////////

MOS and POT were the first ABSOLUTE confirmations that gold was toilet bound.

Both are now being used by daytraders as indicators of GLD.
When POT and MOS are down in premarket - or 45-minutes into the open -
GLD is often going to go down by or about pre-lunchtime.

...............

MOO is the safest way to play MOS and POT, on the long side.