Any reason for the surge in pm's today?
Placid
Posts: 11,299 ✭✭✭
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Placid
Posts: 11,299 ✭✭✭
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"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
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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>dismal jobs report hints that any plans of tapering next year will most likely have to be delayed. >>
Next year is an election year so it was a given that there would be no tapering in any event. Got to make the electorate happy. Bread and circuses for everyone!!!
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
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Wait... since our onboard resident contrarian hasn't chimed in on this.. I'd like to for him.... okay here go's.
Surge??? REALLY? like where they were 28 1/2 days ago [arbitrary time frame].... Woooo hoooo.. And I'm sure the same bulls on here will say its because of the dismal jobs report... and paper dollar printing.. yah de da de da... Sure.. And the guy stating the "calling off of the Big Boy's"..... I cant wait for the "To da moon boys" .. to post after they read that too.. Got to go now.. still working for the Man....
Well that was my attempt at trying to fill in for the Missing Contrarian.... Who Am I?
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Wait... since our onboard resident contrarian hasn't chimed in on this.. I'd like to for him.... okay here go's.
Surge??? REALLY? like where they were 28 1/2 days ago [arbitrary time frame].... Woooo hoooo.. And I'm sure the same bulls on here will say its because of the dismal jobs report... and paper dollar printing.. yah de da de da... Sure.. And the guy stating the "calling off of the Big Boy's"..... I cant wait for the "To da moon boys" .. to post after they read that too.. Got to go now.. still working for the Man....
Well that was my attempt at trying to fill in for the Missing Contrarian.... Who Am I?
I don't know but are you posting from Baleyville?
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
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Wait... since our onboard resident contrarian hasn't chimed in on this.. I'd like to for him.... okay here go's.
Surge??? REALLY? like where they were 28 1/2 days ago [arbitrary time frame].... Woooo hoooo.. And I'm sure the same bulls on here will say its because of the dismal jobs report... and paper dollar printing.. yah de da de da... Sure.. And the guy stating the "calling off of the Big Boy's"..... I cant wait for the "To da moon boys" .. to post after they read that too.. Got to go now.. still working for the Man....
Well that was my attempt at trying to fill in for the Missing Contrarian.... Who Am I?
I don't know but are you posting from Baleyville? >>
Great Guess MD... but not in Baleyville...let the guesses continue!
We could do a QE of a trill a month without any problem. New coin
Hummmm...85 Billllion a month. Why don't they just give that money to the people every month, that would juice the economy like a rocket to da moon. But, I'm still wondering if the Trill dollar coins will be made available to the public or if it will just be an inside thing that circulates in around the various departments in DC. Wonder if the Chinese and Japanese collect coins?
Metal seems bound in a 3%-4% range from $1300...nothing too radical. I don't see the recent day to day spot as really indicating anything at all.
Hey Buddy, can you spare an ASE?
I keep thinking that as well. $350/month per person - man, woman & child - at this rate. Significant money. Then again, it's really not about doing anything for the people, or for the economy.
I knew it would happen.
Really?
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Wait... since our onboard resident contrarian hasn't chimed in on this.. I'd like to for him.... okay here go's.
Surge??? REALLY? like where they were 28 1/2 days ago [arbitrary time frame].... Woooo hoooo.. And I'm sure the same bulls on here will say its because of the dismal jobs report... and paper dollar printing.. yah de da de da... Sure.. And the guy stating the "calling off of the Big Boy's"..... I cant wait for the "To da moon boys" .. to post after they read that too.. Got to go now.. still working for the Man....
Well that was my attempt at trying to fill in for the Missing Contrarian.... Who Am I?
coho the bear of course
The question is should we consider this a dead cat bounce? I for one think not but then I've been in this game a long time and still waiting for the top to blow off in PM's.
<< <i>I think that after metals getting hammered for so long that a rise is inevitable.
The question is should we consider this a dead cat bounce? I for one think not but then I've been in this game a long time and still waiting for the top to blow off in PM's. >>
Gold will continue to be a threat to what the bankers want to be money.
"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 knew it would happen.
I've finaly accepted, it's a total crap shoot. It's literally like going to the casino because the odds are not in our favor on anything about it. Some may argue that there are dozens of economic talking points that should make it be $40. My arguement back would be, then why isn' it NOW..not 6 months or a year from now...NOW if all those arguments had any validity whatsoever.
<< <i>
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<< <i>
Wait... since our onboard resident contrarian hasn't chimed in on this.. I'd like to for him.... okay here go's.
Surge??? REALLY? like where they were 28 1/2 days ago [arbitrary time frame].... Woooo hoooo.. And I'm sure the same bulls on here will say its because of the dismal jobs report... and paper dollar printing.. yah de da de da... Sure.. And the guy stating the "calling off of the Big Boy's"..... I cant wait for the "To da moon boys" .. to post after they read that too.. Got to go now.. still working for the Man....
Well that was my attempt at trying to fill in for the Missing Contrarian.... Who Am I?
coho the bear of course >>
WE HAVE A METALS FORUM WINNER!
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<< <i>
Wait... since our onboard resident contrarian hasn't chimed in on this.. I'd like to for him.... okay here go's.
Surge??? REALLY? like where they were 28 1/2 days ago [arbitrary time frame].... Woooo hoooo.. And I'm sure the same bulls on here will say its because of the dismal jobs report... and paper dollar printing.. yah de da de da... Sure.. And the guy stating the "calling off of the Big Boy's"..... I cant wait for the "To da moon boys" .. to post after they read that too.. Got to go now.. still working for the Man....
Well that was my attempt at trying to fill in for the Missing Contrarian.... Who Am I?
coho the bear of course >>
If I'm not mistaken, I do believe coho said he was a buyer of PMs--at a certain price. In fact I believe he may have even called within 1 day a major bottom a few months ago.
But to the OP, if you owned a stock and it went from 13.10 to 13.40 in a day and you got all giddy, you would be a stock brokers dream client. It would be very easy to tell you to buy more. Being emotional about a fractional move can and will have detrimental financial consequences.
Knowledge is the enemy of fear
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<< <i>
Wait... since our onboard resident contrarian hasn't chimed in on this.. I'd like to for him.... okay here go's.
Surge??? REALLY? like where they were 28 1/2 days ago [arbitrary time frame].... Woooo hoooo.. And I'm sure the same bulls on here will say its because of the dismal jobs report... and paper dollar printing.. yah de da de da... Sure.. And the guy stating the "calling off of the Big Boy's"..... I cant wait for the "To da moon boys" .. to post after they read that too.. Got to go now.. still working for the Man....
Well that was my attempt at trying to fill in for the Missing Contrarian.... Who Am I?
coho the bear of course >>
If I'm not mistaken, I do believe coho said he was a buyer of PMs--at a certain price. In fact I believe he may have even called within 1 day a major bottom a few months ago.
But to the OP, if you owned a stock and it went from 13.10 to 13.40 in a day and you got all giddy, you would be a stock brokers dream client. It would be very easy to tell you to buy more. Being emotional about a fractional move can and will have detrimental financial consequences. >>
I wasn't refering to that coho...
As far as your comment to the OP. I believe he was refering to that days move in PM's.. not stock... Dont see the relation and extrapulation spin you are putting on it is relevent at all. You are very good with IF's..
<< <i> Any reason for the surge in pm's today? >>
Had to be some kind of conspiracy. You best check with the forum conspiracy advocates.
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<< <i> Any reason for the surge in pm's today? >>
Had to be some kind of conspiracy. You best check with the forum conspiracy advocates. >>
There's a quiet run on the bank as foreigners dump US treasuries.
"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
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<< <i> Any reason for the surge in pm's today? >>
Had to be some kind of conspiracy. You best check with the forum conspiracy advocates. >>
There's a quiet run on the bank as foreigners dump US treasuries. >>
But Derry.. you're just not getting it...there was NO surge in metals according to "DA BEARS" ....
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<< <i> Any reason for the surge in pm's today? >>
Had to be some kind of conspiracy. You best check with the forum conspiracy advocates. >>
There's a quiet run on the bank as foreigners dump US treasuries. >>
But Derry.. you're just not getting it...there was NO surge in metals according to "DA BEARS" ....
I agree.... a one day 2% gain is not a SURGE in my book, especially if you are giving part of it back the following day. BTW we've had numerous 2% one day gains over the last 2 years, but yet the PM's are still in the dog house. Need to see some 5% - 10% on day gains and then I'm on board with the SURGE quote.
I bought about 200 ounces around 2010 for around $25 an ounce and I have no desire to sell anytime soon. With that being said I have to check in on it once in awhile. If it goes back up near $50 an ounce, at that point I will have learned my lesson and sell. That way I can capture some profit.
Just my .02
Thanks,
BC
BTW derryb the reference above is in no way a knock on you and I do appreciate your insight on the subject.
Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
It appears that at least one news source considers a measly 0.8% to be a surge: "Holdings in the world’s largest gold ETF, SPDR Gold Trust, surged 0.8% or 6.6 tonnes to 878.32 metric tons yesterday, the first increase seen since September 19th according to Bloomberg data."
"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>I understand that some play the metals game on a daily basis like derryb and need to follow it closely but IMHO most of us have bought as more of a long term investment (5 plus years). For me it was better then parking my money into a CD or rolling the dice on stocks (btw I do have some stocks).
I bought about 200 ounces around 2010 for around $25 an ounce and I have no desire to sell anytime soon. With that being said I have to check in on it once in awhile. If it goes back up near $50 an ounce, at that point I will have learned my lesson and sell. That way I can capture some profit.
Just my .02
Thanks,
BC
BTW derryb the reference above is in no way a knock on you and I do appreciate your insight on the subject. >>
No knock taken. I do play the metals game on a daily basis (With ETFs in IRAs) and it does require following the market closely but I also stack physical for the long term as well.
"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>2% is a surge, 5% is a spike
It appears that at least one news source considers a measly 0.8% to be a surge: "Holdings in the world’s largest gold ETF, SPDR Gold Trust, surged 0.8% or 6.6 tonnes to 878.32 metric tons yesterday, the first increase seen since September 19th according to Bloomberg data."[/I[/]
I think you've been right on Derry... I've been poking fun at the naysayers here... seems when the DJIA goes up .5% all their cheer leaders [see main stream media] are all over it.... fair is fair.. so when metals go up.. as they often have lately.. it would seem the OP's post was accurate to say it was a surge.... even without comparing to the other equities markets.... The OP was correct.
<< <i>2% is a surge, 5% is a spike
It appears that at least one news source considers a measly 0.8% to be a surge: "Holdings in the world’s largest gold ETF, SPDR Gold Trust, surged 0.8% or 6.6 tonnes to 878.32 metric tons yesterday, the first increase seen since September 19th according to Bloomberg data." >>
I consider gold closer to a currency then to an equity so it's always comparing apples to oranges with gold being neither. For sure you can't look at gold like a singe stock like cohodk did. That's not relevant. Instead in would be as if the whole DOW went up 2%. That would be a surge and many would be crowing about it.
FYI a 2% move in the currency market would be considered some where between a spike and a surge to me
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......
Knowledge is the enemy of fear
"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>
<< <i>2% is a surge, 5% is a spike
It appears that at least one news source considers a measly 0.8% to be a surge: "Holdings in the world’s largest gold ETF, SPDR Gold Trust, surged 0.8% or 6.6 tonnes to 878.32 metric tons yesterday, the first increase seen since September 19th according to Bloomberg data." >>
I consider gold closer to a currency then to an equity so it's always comparing apples to oranges with gold being neither. For sure you can't look at gold like a singe stock like cohodk did. That's not relevant. Instead in would be as if the whole DOW went up 2%. That would be a surge and many would be crowing about it.
FYI a 2% move in the currency market would be considered some where between a spike and a surge to me
MJ >>
Only gold bugs would consider it a currency and use it as a reference. I for one, consider gold, silver, plat, pallad. & copper a commodity and the term "surge" would be misleading to a daily gain of 2%. It just happens to frequently to be of any interest. On the other hand, if it occurred 5 days in a row, yes it would be a surge, with the final one being the spike.
just goes to show that we can disagree about anything just for the sake of disagreeing.
"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>tomatoes, tomatos
just goes to show that we can disagree about anything just for the sake of disagreeing.
or semantics
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<< <i>2% is a surge, 5% is a spike
It appears that at least one news source considers a measly 0.8% to be a surge: "Holdings in the world’s largest gold ETF, SPDR Gold Trust, surged 0.8% or 6.6 tonnes to 878.32 metric tons yesterday, the first increase seen since September 19th according to Bloomberg data." >>
I consider gold closer to a currency then to an equity so it's always comparing apples to oranges with gold being neither. For sure you can't look at gold like a singe stock like cohodk did. That's not relevant. Instead in would be as if the whole DOW went up 2%. That would be a surge and many would be crowing about it.
FYI a 2% move in the currency market would be considered some where between a spike and a surge to me
MJ >>
<< <i>
<< <i>
<< <i>2% is a surge, 5% is a spike
It appears that at least one news source considers a measly 0.8% to be a surge: "Holdings in the world’s largest gold ETF, SPDR Gold Trust, surged 0.8% or 6.6 tonnes to 878.32 metric tons yesterday, the first increase seen since September 19th according to Bloomberg data." >>
I consider gold closer to a currency then to an equity so it's always comparing apples to oranges with gold being neither. For sure you can't look at gold like a singe stock like cohodk did. That's not relevant. Instead in would be as if the whole DOW went up 2%. That would be a surge and many would be crowing about it.
FYI a 2% move in the currency market would be considered some where between a spike and a surge to me
MJ >>
Only gold bugs would consider it a currency and use it as a reference. I for one, consider gold, silver, plat, pallad. & copper a commodity and the term "surge" would be misleading to a daily gain of 2%. It just happens to frequently to be of any interest. On the other hand, if it occurred 5 days in a row, yes it would be a surge, with the final one being the spike. >>
I'm the furthest thing from a gold bug not that I'm offended. Since I own gold, stocks and foreign currencies I place it closer to currencies as stated. I stand by that.
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......
For buy and hold type investors, rather than daytraders, making and losing the same money over and over again is not generally something to get very excited about.
Liberty: Parent of Science & Industry
<< <i>saying it twice, or even three times, doesn't make it any more accurate >>
I knew it would happen.
<< <i>As the person who stole "SPLUNGE" from Monty Python and applied it to the metals markets, I define a "SPLUNGE" in gold to be a drop of one percent or more within a short time period.
and because you were 2009 Numismatist of the Year and have handled more physical then just about anybody you have serious street creed so there it is : )
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......
Knowledge is the enemy of fear
Liberty: Parent of Science & Industry
<< <i>Just thought I should alert all the persons whom posted to this thread... I believe the consensus was a greater than 2% move to be a surge... We'll silver is surging... Let the nay saying begin
Really?
<< <i>And now the decline?? >>
You just have to know when to buy or sell!
<< <i>And now the decline?? >>
Not happening, I have gone on the record last week as saying silver will not dip below 22 for months.
Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
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<< <i>And now the decline?? >>
Not happening, I have gone on the record last week as saying silver will not dip below 22 for months. >>
Well, it will be November in 2 days, so I guess that counts as months.
Knowledge is the enemy of fear