sell! sell! sell!

[tiznow]

either way i'm definitely not selling any of my gold coins anytime soon in this environment that's for sure

and may even buy some more if gold has a nasty smackdown with the markets

honestly chart wise its telling me it is overdue for a serious correction, tops are hard to call maybe its got more run in it before the correction

and alot of random people in these forums were asking about gold when it was running up into the low 900s to boot

 

[tiznow]

regardless at some point down the road think a pull back to its 50 WMA is imminent which is currently 734 well above its current price

buy low sell high

 

[tiznow]

last bull leg ran from 425 to 725

70% gain

this bull leg

650 to 930 or 43%

so maybe has a more run left in it? we shall see

and it definitely had a long triangle consolidation period from may 06 to sept 07 to build up some steam for the break out its now on....

that said i'm of the opinion that you'll see gold in the 700s somewhere in the next year or two, maybe i'm wrong and gold goes parabolic and never looks back for a long long time

JMHO

 

[Dawoofdaddy]

well, speaking of repeating posts...your above post is pretty typical of what ive been reading for a while now from you about gold. Meanwhile, its risen nearly $300 in a very short period of time.

you posted yesterday gold was smacked down, beaten up, blah blah blah.

today it was higher $12 bucks or so and your first post was about gold being higher. LOL

you keep posting its going to fall 25%, to whatever moving average, mostly I think its just because you think a correction is due. however you continue posting that you havent sold any (usually within the same posts you mention corrections), so your opinion is a way to be right without being wrong.

I agree that gold isnt going to be a one way ride. Frankly, I dont really care much if gold has a correction now, later, or this year...Im playing with house money. If gold falls enough and I have any money to buy more, Ill buy more for a trade.

I wish I could bet at a casino that would let me keep the winners and throw away the losers.

 

[cussin'it]

last bull leg ran from 425 to 725

70% gain

this bull leg

650 to 930 or 43%

so maybe has a more run left in it? we shall see

and it definitely had a long triangle consolidation period from may 06 to sept 07 to build up some steam for the break out its now on....

that said i'm of the opinion that you'll see gold in the 700s somewhere in the next year or two, maybe i'm wrong and gold goes parabolic and never looks back for a long long time

JMHO

Kinda depends on how much they "trash" the dollar (peso/amero)?

.....gold will be about the same price a year from now.

JMHIO

:toast:

 

[DeathEatsaCracker]

DAW, I asked tiz this question the other day. I was wondering what your thoughts were.

So if the market continues to tank and precious metals continue to rise, will precious metals stocks like AUY, SSRI, GLD, etc get pulled down with the market or go up with the commodities?

 

[Dawoofdaddy]

I dont have an opinion about GLD.

Precious metals mining stocks you already own such as ssri and auy, should be held unless you are willing to chase them higher if/when you sell and are incorrect.

However, right now any new positions should only be bought using dollar-cost averaging.

I have no idea if pm stocks will fall during a severe overall stock market downturn.

If mutual/hedge funds own pm stocks, and during an overall stock market selloff, they start having many redemptions and/or margin calls, I suspect they will sell their pm stocks and hold onto their largest losing positions in hopes they rebound.

Tiznow is very correct about the level of problems within the worlds' financial system.

Too many hedge funds are still involved with the yen/dollar carry trade gag, which is somewhat why so many sectors and global markets have been going higher during the past several years.

Once the carry trade gag ends, and its going to end, the markets will have unprecedented volatility.

Too many hedge funds have made the same trades, so they arent all going to exit whatever trades they have made, without some of them losing staggering amounts of money.

 

[tiznow]

i'm just posting what gold and other commodities such as oil are doing in general as i'm trying to gauge my deflationary thoughts

has no bearing on what i feel about it

i rant about bear shakes and bear grinds non stop has no bearing on my overall moderate term hyper bearishness and that we in a new bear market

look i bought physical when it was in the 400s an ounce and still hold it and won't be selling anytime soon

i wouldn't be buying up here personally and MIGHT be buying more if it gets hit good

that's what i'm doing with my money

as for my opinion on it i gave it

i think you will get gold cheaper in the 700s in the next year or two

also overall i think gold will be somewhat immune to deflationary pressures (if they even come) as gold really isn't based on consumption (other than jewelery which can be recycled when prices are high) and is more about hoarding it/demand in times when things are uncertain and not solely a monetary issue

the main problem with gold is for the most part it isn't used up (it has a few applications but not a ton) you keep producing more and its not going off the market its just being stashed away by somebody who will likely sell it one day

 

[tiznow]

going off the market=destroyed

knowing asians i know they are tought to hold some gold cause when times get tough usually its worth alot and you can SELL it to get by and pay the bills or whatever

 

[Dawoofdaddy]

the main problem with gold is for the most part it isn't used up (it has a few applications but not a ton) you keep producing more and its not going off the market its just being stashed away by somebody who will likely sell it one day

I dont think you and most other people really understand the primary purpose of gold.

Gold doesnt get "used up". When the amount of fiat paper currency increases and the amount of gold remains constant or increases LESS THAN the increases of global fiat paper currency, in effect, its the same as if the supply of gold DECREASED.

Also, people act like anyone, anyplace, anytime can decide whenever they find it necessary to find as much gold as they wish to find.

Gold is money and its supposed to be the natural mechanism to prevent governments from stealing the wealth of their constituents via creating too much fiat paper currency backed only by politicians' promises.

Anyway, Im not going to go back and forth with you about the same usual things (again) all night tonight.

 

[tiznow]

only way i see gold going to 3k an ounce or whatever is if people completely lose faith in fiat and we are using wheelbarrows full of money to pay for a big mac

i don't think we are anywhere near that point, or i hope we aren't at least

at 3k jewerly demand in the form of gold will go through the floor, people would move to silver i guess? maybe silver a better bet i dunno...or just stop jewerly consumption all together

bottom line if people can't pay their bills gold and the applications of gold will not be on the top of the consumers list to buy, and for a lot of people that hold it, selling it to pay the bills might gain more likelyhood

"gold" isn't money in a non fiat system its plays whatever role the people decides it plays

for now fiat is money as that's what people accept for transactions

to you its money, to most people its a useless barbaric relic

now if the masses attitude changes and everybody says fiat is horseshit and gold is money than you'll be onto something (like i said above i don't see that anytime soon)

 

[Dawoofdaddy]

jewerly demand? LOL man, you really dont as much as you think you do about the fundamentals behind this gold bull market.

If people lose faith in fiat? Imho, the question is deciding when instead of if.

US dollar, worlds reserve currency and top fiat pos.

Look at the usd chart the past several years, the commodity crb chart, and the gold chart and you will see that people have lost and will eventually panic running out of fiat and into tangible assets, including gold.

 

[tiznow]

..oops hold on referenced some perma gold bug stupid me

anyway you might be right that jewerly demand doesn't play much a role i'll have to think more about that

but gold isn't solely a monetary issue, quite a bit has to do with the psyche of the world at large determining its value and worth

 

[Dawoofdaddy]

What has been the increase of overall fiat paper currency during the past 1, 5, 10, and 40 years relative to overall above-ground gold production and supply?

Thats a more relevant factor to the price of gold than jewerly demand.

Another point regarding jewerly is that much of it isnt pure gold, so gold jewerly is not totally correlated (albeit somewhat) to the gold price.

:think2:

 

[tiznow]

why did gold blow balls from 1980-2002?

money supply was increasing, we had inflation?

mines shut down cause it wasn't profitable to mine it

it was in a huge bear

people didn't give a shit about gold that's why

 

[Dawoofdaddy]

why did gold blow balls from 1980-2002?

read the gata website and find out for yourself why, I dont have the time nor do I care to continuously repeat the same story.

Gold is the most manipulated commodity on the entire planet.

However, the horse is now out of the barn its now ready to run a while.

No market can stay suppressed forever and gold is now going to make a huge move. The last time the govt tried to suppress the gold price it rose from $35 to $850 during the 1970s decade.

 

[tiznow]

gata i've read their stuff argg....perma gold bugs everybody has an agenda

look if fiat fails the fed and central bankers DESTROY THEMSELVES THEIR GAME IS OVER

they aren't gonna allow anti-fed, fiat is trash, gold is money spread wildly to the masses

we are still a small clan that knows the truth

they will deflate and crush the sentiment if they have to

hyperinflation and fiat failing destroys their game and leads to mass chaos

under a fiat currency both the fiat currency itself and gold's role is determined by the masses at large

if faith is lost in fiat the system implodes and gold goes bezerk i agree

 

[tiznow]

also all the gold supression stuff is so overblown

if it was true the markets will ultimately correct itself

as we both know intervention can't last forever

we will just have to see how this all plays out who knows maybe you and gata are right i'm not buying it

only way i see gold going crazy insane is if the masses say you know what fiat is horseshit, fed is horseshit, our currency is a faith based currency and is based on a paper promise, and start converting all their savings into gold in hoards, that ain't happening now, and i doubt it will happen anytime soon

and like i said above the fed will deflate and make cash king in the marketplace if they have to, they won't commit suicide willingly, as they run the show now and its a good show to run

 

[Dawoofdaddy]

we are still a small clan that knows the truth

While you know more than most, you dont really know as much as you think you know about the gold topic.

Im going to do myself and the rx bandwith usage a favor and stop replying to every post you make about this subject. Especially since most of the time you are implying you agree with both sides of the argument with your posts.

My fingers are have grown tired from typing the same things about gold.

If its not you, its eek, or some other poster from who knows where...heck, even a few ghosts have appeared to post and prove how wrong they could be about gold.

Good night.

%^_

 

[tiznow]

your always implying i'm some sort of gold bear i'm just discussing the topic of gold with you everytime i take a negative tone and don't agree with you, you get defensive a try to say i'm saying gold is useless

currently, i'm pretty much neutral, while i was a gold bug when the funny money games were working, economies were expanding, people had lots of cash to invest in gold, and we had rampant worldwide inflation (inflation rates in china obscene)

i own gold, and am not selling it, and think near term (1-2 years) we could pull back to the 700s

i'm just more defensive on gold overall now that we are in a new equity bear IMO....

if i'm wrong and the fed rate cuts will work this is a momentary blip and world economies can continue to expand and we are able to deal with rampant inflation gold will keep plowing ahead just fine over the long haul and outperform equities