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So, when the market opens

AgBloxAgBlox Posts: 744 ✭✭
in Precious Metals
Will PM's continue down the slide or will they walk back up the steps for another turn?

Comments

  • Norseman88Norseman88 Posts: 962
    depends on the dollar, since China came out in support of the dollar PM's and the stock market have sold off so if the dollar keeps gaining strength equites and commodities will continue to sell off.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    I think the most likely outcomes in order of probability

    1. Bounce back up to $1100-$1115....then fall back steeply again by mid or late in the week. 40%

    2. Continue on down to retest the earlier low of $1074. 25%

    3. Continue on down past the earlier low. 25%

    4. Bounce from here and then only go higher. <10%


    roadrunner
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  • BBNBBN Posts: 3,761 ✭✭✭
    just more buying opps image

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  • CaptHenwayCaptHenway Posts: 32,250 ✭✭✭✭✭


    << <i>Will PM's continue down the slide or will they walk back up the steps for another turn? >>



    Yes.
    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.
  • moonshinemoonshine Posts: 1,039 ✭✭
    <nod>
  • coynclectercoynclecter Posts: 2,111
    The big news seems to be the Bernanke put. As in , will he stay put. If they fail to confirm him it might trigger a major round of uncertainty. Not like the guy doesnt deserve to go but it will show a real lack of stability and that will show in the markets. The White House has appointed a commission to reduce the budget deficit, more talk with no action. Fact is inflation and low rates/easy money is a requirement to save the states, the banks,the housing market, the pensions etc.

    Bernanke will stay
    easing will increase
    rates will stay low
    the deficit will grow faster
    the fed will buy Tbills

    and the talk about strong dollar, deficit reduction, higer rates, will continue to be just talk.
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    Down trend this week.
    Avid collector of GSA's.
  • Kd5ddoKd5ddo Posts: 208 ✭
    I agree. I think there is a higher chance of sideways/downward than upward movement.
    Remember that the market can stay irrational longer than you can stay solvent.

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  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Bernanke will stay
    easing will increase
    rates will stay low
    the deficit will grow faster
    the fed will buy Tbills

    and the talk about strong dollar, deficit reduction, higer rates, will continue to be just talk.

    Well said coynclecter. It's getting late in the game to risk upsetting or flipping over the apple cart.

    roadrunner


    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭


    << <i>

    Bernanke will stay
    easing will increase
    rates will stay low
    the deficit will grow faster
    the fed will buy Tbills

    and the talk about strong dollar, deficit reduction, higer rates, will continue to be just talk. >>


    Exactly and well stated. MJ
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  • Norseman88Norseman88 Posts: 962


    << <i>The big news seems to be the Bernanke put. As in , will he stay put. If they fail to confirm him it might trigger a major round of uncertainty. Not like the guy doesnt deserve to go but it will show a real lack of stability and that will show in the markets. The White House has appointed a commission to reduce the budget deficit, more talk with no action. Fact is inflation and low rates/easy money is a requirement to save the states, the banks,the housing market, the pensions etc.

    Bernanke will stay
    easing will increase
    rates will stay low
    the deficit will grow faster
    the fed will buy Tbills

    and the talk about strong dollar, deficit reduction, higer rates, will continue to be just talk. >>



    Obviously you are correct, this bounce in the dollar will probably be short lived and any talk of wanting a strong dollar by the Fed will be just another lie. Long term anyone with half a brain knows that the last thing a country as indebted as the United States is wants is a strong dollar along with higher interest rates, it's much easier to service the debt with rates at 2% than when they are at 8% and by printing more money they can inflate away much of the debt.
  • OPAOPA Posts: 17,124 ✭✭✭✭✭


    << <i>I think the most likely outcomes in order of probability

    1. Bounce back up to $1100-$1115....then fall back steeply again by mid or late in the week. 40%

    2. Continue on down to retest the earlier low of $1074. 25%

    3. Continue on down past the earlier low. 25%

    4. Bounce from here and then only go higher. <10%


    roadrunner >>



    And the winner is #4..Gold closed below $1100, but above $1090...
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  • OPAOPA Posts: 17,124 ✭✭✭✭✭
    Looks like #2 or #3 is in the works for Tuesday....
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • PerryHallPerryHall Posts: 46,240 ✭✭✭✭✭
    Wow. Silver is really taking a hit this morning. Now down $0.58 so far.

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  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    And the winner is #4..Gold closed below $1100, but above $1090...

    What gold chart are you referencing?

    #1. Bounce back up to $1100-$1115....then fall back steeply again by mid or late in the week. 40% .

    Actually it took a steep dive within about 24 hours of the bounce beating the mid-week time frame. The gist was that it would bounce (head fake) and then fall back. It bounced up to $1104 and fell back, twice.

    Actually only #1 fits because gold did bounce removing #2/#3 from consideration. #4 doesn't technically work either because gold did not continue higher from Monday's initial bounce to $1104.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • Norseman88Norseman88 Posts: 962


    << <i>Wow. Silver is really taking a hit this morning. Now down $0.58 so far. >>



    Yes I hope it takes a dive so this weekend I can trade some drapped bust halves and MPL's in on some cheap Silver.
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    another week begins~ Up or Down?
    Avid collector of GSA's.
  • CaptHenwayCaptHenway Posts: 32,250 ✭✭✭✭✭


    << <i>another week begins~ Up or Down? >>



    Again, yes.
    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.
  • AgBloxAgBlox Posts: 744 ✭✭
    WWW
  • jmski52jmski52 Posts: 22,905 ✭✭✭✭✭
    I note that the U.S. Budget showing a $1.6 Trillion deficit for this year has just been released, and I also note that gold has just shot up $6.00.

    If you take a peek at Sinclair's site and read what else is going on in the world that the news media don't bother to cover, you might surmise that gold is going to have a busy day on the upside.
    Q: Are You Printing Money? Bernanke: Not Literally

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  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    Hope so, most mornings start up then flat then few dollars less at close lately.

    Former treasury secretary Paulson on GMA this morning said economy grew 5.37% last quarter???
    Avid collector of GSA's.
  • BarndogBarndog Posts: 20,498 ✭✭✭✭✭


    << <i>Hope so, most mornings start up then flat then few dollars less at close lately.

    Former treasury secretary Paulson on GMA this morning said economy grew 5.37% last quarter??? >>



    despite the fact that about 10% unemployment persists.
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  • CaptHenwayCaptHenway Posts: 32,250 ✭✭✭✭✭


    << <i>

    << <i>another week begins~ Up or Down? >>



    Again, yes. >>





    See......I was right!!!!!

    image
    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.
  • jmski52jmski52 Posts: 22,905 ✭✭✭✭✭
    See......I was right!!!!!


    image

    Another week did start. Day-um, yer good!image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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