Going Down
JupitarCoins
Posts: 2,595 ✭
Big time. All metals are taking a hit today.
Oh well time for the little guys to come in and buy for the big run up next week.
Oh well time for the little guys to come in and buy for the big run up next week.
Positive:
BST Transactions: DonnyJf, MrOrganic, Justanothercoinaddict, Fivecents, Slq, Jdimmick,
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Negative BST Transactions:
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Robb, Tee135, Ibzman350, Mercfan, Outhaul, Erickso1, Cugamongacoins, Indiananationals, Wayne Herndon
Negative BST Transactions:
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Comments
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
PM's get splunged.
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
I knew it would happen.
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
roadrunner
Definitely a buying opportunity for the astute PM investor.
gosh, that sounds like what was said when the internet bubble started to pop... i mean when the real estate bubble started to pop... when EVERY bubble starts to pop
"buying opportunity"
Liberty: Parent of Science & Industry
<< <i>Definitely a buying opportunity for the astute PM investor.
gosh, that sounds like what was said when the internet bubble started to pop... i mean when the real estate bubble started to pop... when EVERY bubble starts to pop
"buying opportunity"
It actually has been the correct stategy every step of the way since 850. People have been screaming bubble ever since. Nice for you to pop in on the down days.
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
but But BUT .. "this time it's different"
Liberty: Parent of Science & Industry
This couldn't possibly be the 1,013 shakeout in this gold market run. It just has to be a bubble.....
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
My WAG:
I am pretty sure that this is just a blip; should be $1500+, soon.
BUT, it is best to hedge at least a little on the big runups.
MANY folks are getting their "free houses," today. I am pretty sure
that a new round of "buy the dip" folks will jump in at least a bit, in
the next few sessions.
The risk is that amateurs will start to panic; that could be a BIG
problem for perma-LONGs.
I'm looking forward to the COT report today.
<< <i>As soon as it hits $800.00 a ounce for gold today I am buying all I can get! >>
I don't think that's going to happen, but we can wish.
I like that man!
No rhyme or reason.
<< <i>Jim Sinclair said today, "Shut down your computer, have a stiff drink, enjoy your weekend. Gold will trade at and above $1650. Relax"
I like that man! >>
+1 on stiff drink
Why such the Debbie downer attitude?
<< <i>
<< <i>Jim Sinclair said today, "Shut down your computer, have a stiff drink, enjoy your weekend. Gold will trade at and above $1650. Relax"
I like that man! >>
+1 on stiff drink
it is 5 o clock here!!!
<< <i>My guess is that gold will end up the lowest percentage loser today, and the lowest whenever
PM's get splunged. >>
Gold didn't suffer as much as the other metals today. I agree that gold will not drop like the others.
<< <i>Gold will never hit 1.5K, son. Not in my lifetime and certainly not in yours. >>
"Thats an awful bold statement for a one eyed fat man"...........True Grit
<< <i>Aww
Hello my love!! Crown Royal!!
peacockcoins
<< <i>paparazzi ~ welcome!
Why such the Debbie downer attitude?
Son, I be dealing in gold since you last got over diaper rash. This good folks of this nation will refuse to allow it to crumble and as unlikely as we are to ever see 8 hundered gold again, we most certainly will not see it tickle $1,500. in the next 40 years. No how. No way. Our currency won't be debased so poorly as to open those flood gates. Can't see that happening even using your eyeballs in an attempt to.
Instead you will see some unrest and the value of crude along with the top of the food pyramid get mighty expensive but you can't flush gold into your tank and you can't nibble on it neither.
Carrot sticks and beef jerky will cost you a day's randsom along with clean drinking water, but the yellow medal so many have come to worship won't be worth a hillbilly's squirrel sack.
The alter and false gods of gold are dead.
Take that and a salt lick to the bank son. Count on it as the gospel of Pap.
If I'm wrong I'll buy you a Pepsi and hand you a smile.
I like your style but I will disagree on the $1500 threshold.
Lets' place a bet. I will buy you a Pepsi and you buy me a Coke.
Welcome to the boards. I like you already.
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
I knew it would happen.
<< <i>Gold will never hit 1.5K, son. Not in my lifetime and certainly not in yours. >>
HaHaHa!!
You remind me of my Uncle back in 2001 when I said to him 'you better buy Gold, it's going to go way up".
And he replied "Gold will NEVER go above $450"
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>but, but, but
This couldn't possibly be the 1,013 shakeout in this gold market run. It just has to be a bubble.....
MJ >>
MJ, you are beyond cool!!!!
<< <i>lol at being worried about a 1 day 3% drop. Still on a huge run upwards. >>
Exactly. Who would ever worry about a .40 cent drop on a $14.00 stock ?
<< <i>Definitely a buying opportunity for the astute PM investor.
gosh, that sounds like what was said when the internet bubble started to pop... i mean when the real estate bubble started to pop... when EVERY bubble starts to pop
"buying opportunity"
Did I miss smoething? Did the Fed cancel their QE2 plans? Is Congress trustworthy? Is Geithner getting his strong dollar? Did unemployment go down? Are small businesses thriving? Social Security, Medicaid and Medicare are not insolvent? Did $13.4 Trillion in debt get paid off? Should I continue?
Nope, just another multi-year buying op. We are long from seeing the spectacular top....unfortunately that means some pretty bad news ahead for the USA. Buckle up!
<< <i>From Mineset regarding QE for those that fear it may be over... >>
Thanks for the link MilesWaits. Scary plain scary
Look at the 10 yr gold and silver charts vs. the bull market charts of the S&P (1982-2000) and oil (1990's to 2007) and you will see why the PM's charts are still far from their blow off phases. They almost look like flat lines compared to those other 2 markets that had already peaked.
Gold will never hit 1.5K, son. Not in my lifetime and certainly not in yours.
If you're that sure seems to me you'd find no shortage of bets on the other side to make you and all your descendants very wealthy.
TPTB don't really care where gold goes to as it's just a side show that really has no bearing anything in the economic world. It's just a pricing mechanism to compare how things are doing relative to a single fixed standard. The price of gold will stop going up when currencies stop going down....and when this otc derivatives mess gets washed away. I wonder why govt officials didn't "stop" gold from going from $42 to $875 in the 1970's. Why weren't they able to stop it's price rise? And what effect did the pog have on anything else in the 1970's other than to show that paper money was losing value? Answer: zero effect. Gold is just a measuring stick. The fact that gold went up 25X in the 1970's had no bearing on overall economies. Prices did not rise across the board 25X or anything close to that. The fact that gold has broke through $500, then $1000, and now $1400 certainly suggests there is nothing special about $1500, other than it's still less than the inflation adjusted price of 1980 gold. Sinclair states it best when he calls gold a "mirror." That's all it is. Sometimes we don't like what we see when looking in the mirror, but unless you take some hard medicine and change things, the mirror will reflect hard reality. $1500 gold is about the safest bet anyone could make from here, short of an asteroid hit or some other near-extinction event. Gold is still in the warmup act considering the commodities bull probably has another 2-7 years left to go.
roadrunner
<< <i>we've seen asymtotal, parabolic moves in asset prices before....but But BUT .. "this time it's different"
Look at the 10 yr gold and silver charts vs. the bull market charts of the S&P (1982-2000) and oil (1990's to 2007) and you will see why the PM's charts are still far from their blow off phases. They almost look like flat lines compared to those other 2 markets that had already peaked.
Gold will never hit 1.5K, son. Not in my lifetime and certainly not in yours.
If you're that sure seems to me you'd find no shortage of bets on the other side to make you and all your descendants very wealthy.
TPTB don't really care where gold goes to as it's just a side show that really has no bearing anything in the economic world. It's just a pricing mechanism to compare how things are doing relative to a single fixed standard. The price of gold will stop going up when currencies stop going down....and when this otc derivatives mess gets washed away. I wonder why govt officials didn't "stop" gold from going from $42 to $875 in the 1970's. Why weren't they able to stop it's price rise? And what effect did the pog have on anything else in the 1970's other than to show that paper money was losing value? Answer: zero effect. Gold is just a measuring stick. The fact that gold went up 25X in the 1970's had no bearing on overall economies. Prices did not rise across the board 25X or anything close to that. The fact that gold has broke through $500, then $1000, and now $1400 certainly suggests there is nothing special about $1500, other than it's still less than the inflation adjusted price of 1980 gold. Sinclair states it best when he calls gold a "mirror." That's all it is. Sometimes we don't like what we see when looking in the mirror, but unless you take some hard medicine and change things, the mirror will reflect hard reality. $1500 gold is about the safest bet anyone could make from here, short of an asteroid hit or some other near-extinction event. Gold is still in the warmup act considering the commodities bull probably has another 2-7 years left to go.
roadrunner >>
I totally agree.
Just two more points to add...
Today is just like the '70's, only moreso.
And don't forget what the very wise and young Alan Greenspan said (before he sold his soul to the US Fed), "Gold is the Canary in the Financial Coal Mine".
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
'Cept without the frilly jeans, Members Only jacket and the big fro.
<< <i>From Mineset regarding QE for those that fear it may be over... >>
That is great!
<< <i>From Mineset regarding QE for those that fear it may be over... >>
- Is this an episode of the Twilight Zone?
- I don't think so.
- Are you sure?
- Pretty sure.
Thanks for sharing it.
Link
<< <i>From Mineset regarding QE for those that fear it may be over... >>
I was laughing so hard my wife wanted to know what was going on. When I showed it to her she just looked at me and said "that's not funny" and walked away.
Mercury