Gold up today, are you a buyer?

[Tulpen]

Do you buy in now that gold has gone up today after a rather dramatic fall in the last few days?

I am certainly not, too many bottom fishers, I would not be surprised that gold will fall down even further next week. Oil is very weak as well. I sit in the waiting room for now. :)

Opinions?

[we_are_toast]

The mining stocks have been doing well the last few days and up a big 9+% today. I've been buying a little the last few days and it's beginning to feel like a bottom. I'm not sure if it's short covering, Ike, or people are seeing the writing on the wall. Will keep buying until I see a change in the fundamentals.

[gobears]

Yes! Bought quite a bit GLD & SLV. Doing more research this weekend and might buy more Monday. Also, working on moving ETF into physical at some point.

[tombat1913]

Do you buy in now that gold has gone up today after a rather dramatic fall in the last few days?

I am certainly not, too many bottom fishers, I would not be surprised that gold will fall down even further next week. Oil is very weak as well. I sit in the waiting room for now. :)

Opinions?

I bought URPSX back in October on the very day the S&P hit the highest point ever, great timing, yay me! 99% pure luck! never the less based on fundamentals from Americas Bubble Economy.

I have no intention of trying to wade through dozens of threads and hundreds of oppinions on itulip or elsewhere to try to time the metals market, I moved all of my company 401K into DGP yesterday. I'm sticking with the long term inflation theory.

[Lukester]

Tulpen - In my view you have excellent instincts. Natural born trader. I also have read your macro assessment for the prospects for underlying inflation to keep percolating and think you remain firmly moored in the reality at a juncture when a lot of people are getting all squirrely about deflation. The metals needed to collapse hard into an exhaustion move in the past few days for this to be giving off the right "signals" for a bottom. The fact that they are "loitering" instead does not bode well for this being the bottom yet.

Do you buy in now that gold has gone up today after a rather dramatic fall in the last few days?

I am certainly not, too many bottom fishers, I would not be surprised that gold will fall down even further next week. Oil is very weak as well. I sit in the waiting room for now. :)

Opinions?

[Jim Nickerson]

I bought URPSX back in October on the very day the S&P hit the highest point ever, great timing, yay me! 99% pure luck! never the less based on fundamentals from Americas Bubble Economy.

I have no intention of trying to wade through dozens of threads and hundreds of oppinions on itulip or elsewhere to try to time the metals market, I moved all of my company 401K into DGP yesterday. I'm sticking with the long term inflation theory.

tombat, I think I just read your asking EJ about various actions being potentially deflationary, which makes me think you have some concerns about deflation--you don't need to explain to me whatever are your thoughts about that.

On the other hand you just made a strong and long commitment to gold's gonna up: +200% of Dow Jones PM stocks index if I remember correctly--actually I see DGP is a DB instrument so I don't know against what it is indexed, gold futures? I like it when individuals put up what they are doing. It cuts through a lot of potential bullshit, and only requires readers to accept posters as being honest, which personally I am always willing to do with anyone until proven otherwise.

I have no idea what percentage allocation that 401K is of your investable assets, but to me it seems highly risky to put a lot of eggs into one basket especially on a single day's possible turnaround after a very steep decline. It would seem more prudent to average into a position as it shows promise. I'm not suggesting you are wrong, or that you should be more prudent. You have to deal with the latter.

What if the market goes against you here? To what degree of loss are you going to ride out a continuation of the down trend? Sticking to one's guns in something that moves 1:1 with an index is one thing, but sticking with something that moves 2:1 against you is tough to do, and again prudence to me suggests the use of a serious a stop loss point.

I'd like to know your thoughts.

[tombat1913]

Jim,

The 401K amounts to roughly 22% of my investable assets. This probably sounds reasonable in relation to your prudence idea, but the fact that my savings is all in silver buried on the property and my IRA is 23% DGP and the rest URPSX doesn't likely jive.

I've typed and erased this paragraph about 5 times now trying to explain myself. Here goes, I think that we are in for some big changes as a country and as a planet. Historically these things can be very violent in nature and with what I've seen recently in the political realm I think we certainly have the potential to go down that road. I have beliefs about our leadership which while well grounded in fact aren't always popular and sometimes get threads shutdown on certain forums:rolleyes:. So my philosophy is that if things turn out fine and I take a huge loss then I have a long flowery future to recover, I'll use my years supply of dried food for camping trips and shoot up the ammo at the range. If my concerns turn out to be legitimate then my ass is covered, my retirement money will still be valuable if I make it there, the food will keep me out of bread lines, and the buried silver will be there for trade when nobody wants bonars.

You're probably right about the prudence of investing incrimentally but I'm getting these investments in place now based on long term theories so I can concentrate on my home life, my child on the way and school and not have to pay so much attention to every up and down along the way.

Hope it answers your question.

[Jim Nickerson]

Jim,

The 401K amounts to roughly 22% of my investable assets. This probably sounds reasonable in relation to your prudence idea, but the fact that my savings is all in silver buried on the property and my IRA is 23% DGP and the rest URPSX doesn't likely jive.

I've typed and erased this paragraph about 5 times now trying to explain myself. Here goes, I think that we are in for some big changes as a country and as a planet. Historically these things can be very violent in nature and with what I've seen recently in the political realm I think we certainly have the potential to go down that road. I have beliefs about our leadership which while well grounded in fact aren't always popular and sometimes get threads shutdown on certain forums:rolleyes:. So my philosophy is that if things turn out fine and I take a huge loss then I have a long flowery future to recover, I'll use my years supply of dried food for camping trips and shoot up the ammo at the range. If my concerns turn out to be legitimate then my ass is covered, my retirement money will still be valuable if I make it there, the food will keep me out of bread lines, and the buried silver will be there for trade when nobody wants bonars.

You're probably right about the prudence of investing incrimentally but I'm getting these investments in place now based on long term theories so I can concentrate on my home life, my child on the way and school and not have to pay so much attention to every up and down along the way.

Hope it answers your question.

tombat, interesting and totally amazing with regard to allocation, but it is your money. I truly hope it works out for you, though I'll have to stop in a while and figure out what happens to my positioning if your positioning succeeds. For sure, we have different time horizons, and that is important. Thank you.

[tombat1913]

I truly hope it works out for you.
And the best to you as well.