People are sentimental, markets are not

[jtabeb]

Re: People are sentimental, markets are not

As Bubba was wont to say, "I feel your pain . . ."

The only way I've found to assuage it is to buy more at cheaper prices - after all, Au/Ag and oil are now officially "On Sale" . . .

I'm trying to buy every $30 gold price drop and every $2 silver price drop. Only $15K more to go then I'm all in till next year

1-2 ounces AU & 100 ounces AG at a shot.

[sadsack]

Re: People are sentimental, markets are not

Perhaps you could get someone to photograph your doing that and then you could post it wherever people post pictures here. Will you please PM me the link so that I can see you in action.

This is disturbingly reminiscent of one of Der Feuhrer's fetishes . . . something about women, scat, and a glass table . . . :eek: :p

Then again, in the case of Metalman, perhaps the "issue" would be PM?

I'll only address the the "goldbricking" pun in "passing" (sorry) . . .

[sadsack]

Re: People are sentimental, markets are not

Gold always punishes me before moving up to greater highs. Par for the course and I'm getting punished right now (silver too), can't wait for the next six months to go by

My TCC (treasure chest count) is way WAY up however.

As Bubba was wont to say, "I feel your pain . . ."

The only way I've found to assuage it is to buy more at cheaper prices - after all, Au/Ag and oil are now officially "On Sale" . . .

[Jim Nickerson]

Re: People are sentimental, markets are not

there goes gold. under $800...



if it doesn't stop near $780 as itulip estimates, i'll shit a brick.

Perhaps you could get someone to photograph your doing that and then you could post it wherever people post pictures here. Will you please PM me the link so that I can see you in action.

[metalman]

Re: People are sentimental, markets are not

Gold always punishes me before moving up to greater highs. Par for the course and I'm getting punished right now (silver too), can't wait for the next six months to go by

My TCC (treasure chest count) is way WAY up however.

there goes gold. under $800...



if it doesn't stop near $780 as itulip estimates, i'll shit a brick.

[jtabeb]

Re: People are sentimental, markets are not

If gold gets to $780, that will be something else... because $780 is just about the marginal cost of production at this point. Spot silver is arguably under
its marginal cost of production (in the $17s).

I am buying!

Gold always punishes me before moving up to greater highs. Par for the course and I'm getting punished right now (silver too), can't wait for the next six months to go by

My TCC (treasure chest count) is way WAY up however.

Re: People are sentimental, markets are not

I read last weekend that Frank Holmes of US GLOBAL INVESTORS says they are projecting copper to be a triple (300%) in the next four to five years. Apparently nobody told these guys there's supposed to be a global recession on, or maybe it's just copper ... doesn't want to know about that.

[Mega]

Re: People are sentimental, markets are not

In a Nut shell:-
Gold had a great run, its likely to enjoy a GREATER run, but you might get a short term fall. I think you guys MUST look at all the "Fiat" thats got to be printed World wide..........Gold IS only going one way.
Mike

[phirang]

Re: People are sentimental, markets are not

In other news, China, India, Russia, and the Gulf States continue to buy-up Africa, South America, South-East Asia, and build and own infrastructure therein.

I bet copper won't go under $2.75/lb by end of 2008.

I bet steel will remain tight.

[Jim Nickerson]

Re: People are sentimental, markets are not

Will the $USD get past $80?
Will oil hit $80 ?
Will Euro hit 1.3920 ?
Will SP500 hit 1380 ?

These are all turing zones that will confirm previous global trends continue, and Gold is one of them.

Ed says correctly that gold rallies on crises news. Well this (link) is the next crisis, time this some how, and you will have your entry point. But like Ed says, if you cant time, just buy.

Next crisis: http://www.youtube.com/watch?v=pmeBSWI9sF8 ALT A mess

Question: Can any one tell me which bank has the largest exposure to this junk ?

US$ probably will hit 80 in the next weeks to months.

Oil won't hit $80 in anyone's lifetime.

For $XEU to get to 137 isn't unreasonable.

SPX will hit 1200 before it ever visits 1380.

These are my bets.

[icm63]

Re: People are sentimental, markets are not

Will the $USD get past $80?
Will oil hit $80 ?
Will Euro hit 1.3920 ?
Will SP500 hit 1380 ?

These are all turing zones that will confirm previous global trends continue, and Gold is one of them.

Ed says correctly that gold rallies on crises news. Well this (link) is the next crisis, time this some how, and you will have your entry point. But like Ed says, if you cant time, just buy.

Next crisis: http://www.youtube.com/watch?v=pmeBSWI9sF8 ALT A mess

Question: Can any one tell me which bank has the largest exposure to this junk ?

[santafe2]

Re: People are sentimental, markets are not

i'm going to try to use "the small trade in the big trade" theory this time... use etf gld. i'll wait until $810, don't know if i have the guts to wait for gold to go under $800, and as you say there's a good chance it won't.

For me it always makes the most sense to scale in and out of positions. While I do pick top end entry points, the place I will start buying, I don't wait until my idea of the bottom is put in. When I've tried that, I'm almost always wrong about the exact bottom. My best guess for this downturn is around $700 for gold but as I said the other day, I've started adding to my positions and I'll let the market tell me what I'll pay for them.

[metalman]

Re: People are sentimental, markets are not

If gold gets to $780, that will be something else... because $780 is just about the marginal cost of production at this point. Spot silver is arguably under
its marginal cost of production (in the $17s).

I am buying!

i'm going to try to use "the small trade in the big trade" theory this time... use etf gld. i'll wait until $810, don't know if i have the guts to wait for gold to go under $800, and as you say there's a good chance it won't.

[akrowne]

Re: People are sentimental, markets are not

If gold gets to $780, that will be something else... because $780 is just about the marginal cost of production at this point. Spot silver is arguably under
its marginal cost of production (in the $17s).

I am buying!

[santafe2]

Re: People are sentimental, markets are not

Here is a possible re entry, (maybe). Remember commodities over correct and over extend!

Let me say first, that I found the post a bit off-topic based on EJs thread starter. And, I agree with Jim's critique, it's much better to publish a chart that you're ready to defend. I'm also not a fan of Wave theory although I find some of Prechter's non-Wave Theory work useful. His EWT position in the early years of the metal bull market were basically garbage.

Also, if Wave is not defensible, the Fib numbers are not too useful either. That said, I don't disagree that this is a good time to open or start adding to positions, if you traded some of your positions out at the top. Although EJs point is well taken, that trading can be a vicious mistress, done well it adds to your bottom line, it does not subtract as he indicates. My metals trades in 2006 are well documented as are my sales in late February and early March 2008 as well as my restocking early this week. I'm a silver investor primarily and I fail to see how I can sell at over $20 and start buying under $15 and lose money unless the bull market is over. I think we all agree, it's not over, it's just reloading and so am I.

We may move down another 2% or another 20%, or the market may start moving up again from here. I don't care, I will own more metals than I did this last February and I won't have any more invested than I did at that time. And, I take little credit for these trades. This gets back to my comment about Prechter earlier. I learned from him that social indicators are as important as any other in spotting a top or a bottom. When your friends who care nothing about metals are asking you if they should buy - you need to consider selling. When Time, Newsweek or USA Today are running articles on the stuff, it's time to check your technical indicators.

As EJ noted, when the main stream media is pointing its collective finger at those of us who don't question metals, it's time to start buying again. If metals reverse lower after this counter-move, watch for this headline in USA Today; "Is Gold's Run Over?" Oversized type would be nice. That's a key indicator that metals are about to turn higher.