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Two minutes 'til the market opens overseas

WeissWeiss Posts: 9,941 ✭✭✭✭✭
in Precious Metals
image
We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
--Severian the Lame

Comments

  • CaptHenwayCaptHenway Posts: 32,129 ✭✭✭✭✭
    DOWN!
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • goingbrokegoingbroke Posts: 1,410
    SELL!, SELL!, SELL! Metal Bid Ask
    Gold $1,152.60 $1,153.60 ($15.30)
    Silver $18.29 $18.34 ($0.17)
    Platinum $1,438.80 $1,448.80 ($2.90)
    Palladium $371.00 $376.00 ($7.50)

    Updated:12/6/2009 5:02:33 PM CST
    Many successful BST transactions ajia
    (x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
    mariner67, and Mikes coins
  • cartermurphcartermurph Posts: 141
    I'll go out on a limb and say $1186 by 11:00 central time. Anybody want the over under?image
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    I'll under
    Avid collector of GSA's.
  • goingbrokegoingbroke Posts: 1,410
    WAY UNDER!
    Many successful BST transactions ajia
    (x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
    mariner67, and Mikes coins
  • bestmrbestmr Posts: 1,777 ✭✭✭
    Personally, I'm in this for the long haul(unless something drastic pops up and I NEED the $$) so keep going down so I can buy more. image
    Positive dealing with oilstates2003, rkfish, Scrapman1077, Weather11am, Guitarwes, Twosides2acoin, Hendrixkat, Sevensteps, CarlWohlforth, DLBack, zug, wildjag, tetradrachm, tydye, NotSure, AgBlox, Seemyauction, Stopmotion, Zubie, Fivecents, Musky1011, Bstat1020, Gsa1fan several times, and Mkman123 LOTS of times
  • KonaheadKonahead Posts: 1,476 ✭✭✭


    << <i>Personally, I'm in this for the long haul(unless something drastic pops up and I NEED the $$) so keep going down so I can buy more. image >>



    image at this point it is fun to watch and I buy the dips to grow the hoard.
    PEACE! This is the first day of the rest of your life.

    Fred, Las Vegas, NV
  • RedHerringRedHerring Posts: 2,077 ✭



    << <i>I'll go out on a limb and say $1186 by 11:00 central time. >>



    ---------------------------

    I'm around $1146. Way under!
  • BearBear Posts: 18,953 ✭✭✭
    PLOP.............
    There once was a place called
    Camelotimage
  • goingbrokegoingbroke Posts: 1,410
    I believe that gold kicked off a correction on Friday, however, that will last at least the next 1-2 months. This is similar to what happened in May 2006 and March 2008. I am looking for a re-entry point in the 950-980 range.
    Many successful BST transactions ajia
    (x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
    mariner67, and Mikes coins
  • MeltdownMeltdown Posts: 8,789 ✭✭✭✭✭
    I wouldn't mind seeing a bit more drop this week. I'm looking to purchase a little bit more before it's too far out of my reach.

    Click on this link to see my ebay listings.

  • RedHerringRedHerring Posts: 2,077 ✭

    And to think it touched $1225 last week! Down to $1150 already! Down over 6%.

    How low will it go??
  • goingbrokegoingbroke Posts: 1,410
    I sold 20 ounces at $1210. I am glad I did! All 20 ounces bought for less then $800.00 nice profit! when it gets down again between $950.00-$1000. I will buy the 20 ounces back!. My wife and I just paid for a 1st class cruise with the profit. I was trying to sell the two coins in this photo but I didn't even get 1 offer for either of them. This suprised me as the mintage numbers on both coins were very low!
    Many successful BST transactions ajia
    (x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
    mariner67, and Mikes coins
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    believe that gold kicked off a correction on Friday, however, that will last at least the next 1-2 months. This is similar to what happened in May 2006 and March 2008. I am looking for a re-entry point in the 950-980 range.

    Yes, gold ended it's 3rd leg up in this current sequence. Once this 4th wave correction plays out in December (days to weeks) it will be off to wave 5 and $1275+. There likely will be no opportunity to buy below $1120 this time....let alone <$1000. The Dec 2005 correction lasted all of 7 days. The correction in Nov 2007 lasted 8 days and then was retested 10 days later....December them moved upwards. Both corrections were fairly shallow.

    The runs that ended in May 2006 and March 2008 also corrected along the way on their 4th legs in Nov-Dec. This is nothing new. They started the same way in August/September and they should end similarly in March-May. If this correction were to fall below $1071 that would indicate many months of correction to come as the bull would be dead for quite some time...not 1-2 months...but possibly a year as Cohodk has suggested.

    A couple of hours into the overseas market open and gold/silver/dollar zig-zagging down. So where's the safe haven?

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • MoneyLAMoneyLA Posts: 1,825 ✭
    dont let one or two days make you panic. this is still a bull market. Im sticking with 1300 and soon.

    the shortest time chart I look at is the one year, and there is a very strong (and yes, critical) support line at 1,100. I agree with roadrunner that that will certainly hold -- in fact, we might never see it.

    1000 gold will probably not be seen again unless something dramatic happens -- and dont ask me what that might be.

    a couple of days of profit taking is normal and can be expected. for heaven sake guys, this has been quite a run.

    remember, a "normal correction" can be 10%. and that could me a drop to just above 1100.
    Cheers, Alan Mendelson
    www.AlanBestBuys.com
    www.VegasBestBuys.com
  • goingbrokegoingbroke Posts: 1,410


    << <i>I believe that gold kicked off a correction on Friday, however, that will last at least the next 1-2 months. This is similar to what happened in May 2006 and March 2008. I am looking for a re-entry point in the 950-980 range. >>

    just as fast as the market perception can drive prices straight up, it could tank an asset class in a matter of minutes. I believe speculator demand is clearly a major factor in the current gold price rally, a decline could potentially take the gold price down quite significantly on indications such as rising interest rate, or the U. S. Dollar starts to strengthen.

    If history is any indication, after gold rose sharply in 1979-1980 to $850, it was followed by a drop to near $500 in less than 2 months. It is conceivable that gold could take a similar loss in a short time.

    Many successful BST transactions ajia
    (x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
    mariner67, and Mikes coins
  • jmski52jmski52 Posts: 22,839 ✭✭✭✭✭
    This isn't even close to being a speculative blow-off.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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