At this point with gold who's buying, holding or selling?
Konahead
Posts: 1,476 ✭✭✭
I don't think the dip has bottomed yet, what say you?
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Fred, Las Vegas, NV
Fred, Las Vegas, NV
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If we have a significant dip this year, I'll even do a little borrowing from the bank.
Click on this link to see my ebay listings.
<< <i>I'm buying, selling & holding.
Me too. But same as Pieces of Me, I am being careful and not making any major investments.
>
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Fred, Las Vegas, NV
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Who's holding ?..........The nervous money
Who's selling ?..........Those who need cash, or the really nervous money
<< <i>Who's buying ?...........The smart money
Who's holding ?..........The nervous money
Who's selling ?..........Those who need cash, or the really nervous money >>
I agree with you and continue to buy every week.
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<< <i>I will be picking up pucks if it get the chance. >>
Same here.....as long as I don't have to pay an outrageous premium over melt.
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"Paper money eventually returns to its intrinsic value---zero."----Voltaire
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Fred, Las Vegas, NV
********************
Silver is the mortar that binds the bricks of loyalty.
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
<< <i>I will be picking up pucks if it get the chance. >>
Bought the pucks last month...
This month I've purchased ASE 2011 rolls, 2011 Philharmonic Rolls & Libertad Rolls...
Nothing on the plate for February though.
Selling pre $12 Silver... got to keep the hobby going & funded.
<< <i>Who's buying ?...........The smart money
Who's holding ?..........The nervous money
Who's selling ?..........Those who need cash, or the really nervous money >>
I'm not saying gold is at a top, if anything, I'd say the opposite. However, when an inevitable long term top does come the newbies will be saying the above too.
When the top comes it will look like this:
Who's buying? Mostly newbies that came late to the move, but think they are financial genuises because they have made 20% in a year or less. Nimble traders might be buying too, but the smart ones will have a tight stop on their positions.
Who's holding? After the top occurs, many of those late comer newbies will hold all the way down, and might have to wait a decade or more for a chance at break even.
Who's selling? The smart long term money will have sold at prices 10% to 20% lower because they don't tend to wait for the last 2% of a long term 500% (or whatever percentage) move.
Again, I'm not calling top, I don't think this is a top, but folks will do well to think about the inevitable top before it comes. The comments apply to the mood of the crowd, the mood of the newbie late buyers when long term tops occur. Newbies don't get out at the top. That's when the crowd frenzy is frothiest, and the absolute maximum of newbies are piling in, often using credit cards to make their ill-timed purchases.
selling Ag,
holding Au & Pt
At least I'm trying to do that.
bob
Today I bought 25 oz of slabbed Silver...but hope it should turn into a short term investment!
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
At this point and we all know that time will come, what is the best way to move a large hoard of metal. In the past I have sold a few oz, but never several hundred. Heavy! ideas?
Who's selling? The smart long term money will have sold at prices 10% to 20% lower because they don't tend to wait for the last 2% of a long term 500% (or whatever percentage) move.
Again, I'm not calling top, I don't think this is a top, but folks will do well to think about the inevitable top before it comes. The comments apply to the mood of the crowd, the mood of the newbie late buyers when long term tops occur. Newbies don't get out at the top. That's when the crowd frenzy is frothiest, and the absolute maximum of newbies are piling in, often using credit cards to make their ill-timed purchases. >>
Fred, Las Vegas, NV
Here is a Jim Rogers blurb about gold and bubbles. For whatever reason, I couldn't link it. I concur with the article.
(Kitco News) - Gold prices are not in a bubble because not everyone is buying yet, but that doesn’t mean that prices for the yellow metal can’t take a “rest” for a while, said Jim Rogers, noted commodities investor.
Gold prices gained nearly 30% in 2010 and hit record nominal price levels, which has prompted some market observers to warn that the precious metal is in a bubble and could burst, sending prices down sharply.
“When there’s a bubble, everybody is buying something and it’s going up every day. You cannot say that about gold,” Rogers said.
He said jewelry shop windows have signs that say “We buy gold” and that most money managers still do not have gold holdings in their portfolio. When jewelry stores have signs up saying “we sell gold” and have lines outside to buy, when everyone owns gold that will be the sign of a top. “Those days are not here yet…. But this is absurd - you can’t have a bubble until everybody owns something,” he said.
Rogers spoke to Kitco News on the sidelines of the annual economic outlook discussion sponsored by The Executives’ Club of Chicago.
Gold prices have come off the all-time highs set in late 2010, and given that gold has risen annually for the past 10 years he wouldn’t be surprised if the metal takes “a rest.” But that doesn’t mean he’s predicting that will happen.
“I own it, I’m not selling it, but the way markets work, it’s certainly overdue for a rest. I don’t know if it’s going to rest or not,” he said.
He said he is not buying any gold right now, just watching. If prices fall, he said he’d probably buy more, but wouldn’t say if there is an attractive area. “I’m not a trader. I don’t pay that much attention. If I’m paying attention and if there’s an opportunity I hope I’m smart enough to take advantage of it,” he said.
In 1973 Rogers co-founded the Quantum Fund with George Soros and is the author of Hot Commodities among other books.
He has advocated many times that investors seek real assets, saying that the world is changing from valuing financial centers to areas where goods are produced, and suggesting that college students are better off getting degrees in agriculture and mining than MBAs.
Long-term Rogers is bullish on commodities, but short-term the volatility in commodity prices can be contrary to long-term positions. Risk management is as important to commodity markets as it is in other financial vehicles and he said selling short is one way to do it.
“Selling short is the best way I know to hedge yourself. Throughout my investment career I’ve nearly always had some shorts – I’m short some things, long others. That doesn’t necessarily mean you’re safe. I’ve had it where my shorts go up and my longs go down, so I’ve lost money on both sides,” he said.
He wouldn’t suggest what allocation an investor should have devoted to commodities in their portfolios. Instead he said people should never invest in something they don’t know and stick to what’s familiar. “You should have 100% of your money in things you know about. You should have none of your money in things you don’t know anything about.
Don’t listen to people like me, make your own decisions and know your own stuff and once you know it then put a lot of money in it,” he said.
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......