gold to $650, silver to $9.80

[touchring]

Re: gold to $650, silver to $9.80

Got another batch of SKFs at 113 and 120, when Cramer was shouting, "The bear has ended! Say hello to the bull!". :eek:

[Jim Nickerson]

Re: gold to $650, silver to $9.80

Are you saying that gold will not fall below 780 in the next year?

Hugh Hendry of Eclectica hedge fund indicating gold to $600
http://www.cnbc.com/id/26282751

Hussman also calling for a decline in commodities

The slip in gold, which was joined by fellow precious metals platinum, silver and palladium, dragged it well below its all-time high of just over $1000 an ounce in March.

But that was predicatble, Hendry said.

Bull markets "of this variety, with the potential to trade higher, paradoxically can have these savage, and quite prolonged, bear market components, and I fear that is where we are headed," he said.

The "current markets could take gold as low as $600 or $550 per ounce," he added.

"I have greater comfort being in 10-year bonds than gold for the first time in ages," Hendry

Hendry also thinks the banking sector is insolvent, can't tell how low those stocks will go, and that FRE and FNM are likely to be put under the control of the Treasury "in a matter of months."

[Jim Nickerson]

Re: gold to $650, silver to $9.80

Jim, do not be mistaken, if there was an Itulip convention, you'd all probably think I was crashing it. Most of the time, I'm just hoping to add some valid data/information to the discussions.

babbittd, it seems you think I wrote something exclusionary to your contribution? I don't think so, but if I did it was not intended to be negative.

Actually, it is rather interesting to be collecting these various and sundry speculations as to how low PM's might go.

I would put forth one myself, but I don't have the faintest idea where it will end, or if it has ended.

Anyone else running across various pundit's projections should put them in this thread.

[Spartacus]

Re: gold to $650, silver to $9.80

I think I got "Indian" from here:

http://en.wikipedia.org/wiki/Firang



Did I mention Wikipedia is not your, or my, friend?

true ... And since I'm no scholar of Indian languages and haven't referenced original source documents, my contribution is completely anecdotal.

[Andreuccio]

Re: gold to $650, silver to $9.80

not hindi, "muslim". I can't ever recall hearing (ph/f)irang from indians or pakistanis (hindi, punjabi or urdu) but hear it often among Iranians - some pronounce it "furengay".

I can't tell if this web page mean farsi or arabic or what when they write "muslim".

http://www.dailymuslims.com/Educatio...ed_Ulemas.html

I think I got "Indian" from here:

http://en.wikipedia.org/wiki/Firang

Firang or farang or farangi is a term, linked to the Franks, used in the Indian subcontinent and Southeast Asia to refer to any Westerner, especially people of western European descent. It was originally used to refer to foreigners, and is thought to have been used later as a pejorative term for British officers and gentry in India. Today it is used commonly to refer to any Westerner in casual conversations, akin to 'gaijin' in Japanese.

Did I mention Wikipedia is not your, or my, friend?

[magicvent]

Re: gold to $650, silver to $9.80

Are you saying that gold will not fall below 780 in the next year?

Hugh Hendry of Eclectica hedge fund indicating gold to $600
http://www.cnbc.com/id/26282751

Hussman also calling for a decline in commodities

[Spartacus]

Re: gold to $650, silver to $9.80

not hindi, "muslim". I can't ever recall hearing (ph/f)irang from indians or pakistanis (hindi, punjabi or urdu) but hear it often among Iranians - some pronounce it "furengay".

I can't tell if this web page mean farsi or arabic or what when they write "muslim".

http://www.dailymuslims.com/Educatio...ed_Ulemas.html

Here you go, Jim. Full bio. I assume this is the same Phirang:

http://boombustblog.com/index.php?op...id=62&pageid=2

He's "an entrepreneur who exists just outside of mainstream corporate America and Wall Street."




Or, alternately, he's a European, or a disease (Sometimes Google is not your friend. ):



BTW, reading this got me thinking that the Indian word for Europeans, Phirangi, sounded a lot like "Ferengi" from Star Trek. Sure enough, according to Wikipedia, (which, by the way, is definitely not your friend, even though it purports to be),

Learn something new every day.

[Slimprofits]

Re: gold to $650, silver to $9.80

Lukester's spookster's call: Gold 650, silver 9.80 based on ??

Bensimon's July call. Gold 732 in April or May 2009 based on Elliot wave and Fibonacci numbers.

akrowne's assessment. $780 marginal cost of production of gold

babbittd: Robin Griffiths 750 based on ??

EJ.'s call: He just knows--780

http://stockcharts.com/h-sc/ui?s=$GO...69&a=129594324

Here's stockcharts.com continuous contract prices with low yesterday of 777.70.

If EJ, akrowne, or Griffiths are near correct, most of the pain is passed.

If Bensimom is correct there is still 5.9% to the downside from yesterday's low.

If the Spookster were to be correct, there is still 16.4% to the downside from yesterday's low for gold.

Jim, do not be mistaken, if there was an Itulip convention, you'd all probably think I was crashing it. Most of the time, I'm just hoping to add some valid data/information to the discussions.

[krakknisse]

Re: gold to $650, silver to $9.80

Everyone: when EJ appears out of the heavens and outstretches his hand palm downward to calm troubled waters isn't that a hint to take things to a lower level of tension? Y'all may like a fist fight. I don't think so many others like them. Can I please respectfully remind you that ad hominem arguments are often not helpful? If you do, why don't you do it in the classical British manner: understatement of the bleeding obvious. And Internet privacy is something everyone should take seriously. Think netiquette.

The opportunity cost of following ITulip and other sites is probably quite significant to most ITulipers. For that opportunity cost, we should expect some financial gain. But don't forget to have fun.

Remember: being here means we're all winners. It is just to a different degree. Some have 5% PMs, and are trading geniuses with the other 95%. Some have 65% PMs and balls of steel. Relatively speaking, we're preserving purchasing power in some very strong head winds.

So, just to liven up the spirit - hope this will cheer you up. I discovered a well-kept secret of the PMs! You'll develop balls of steel from the volatility. But what's the alternative? The old trouble and strife will eye your more accessible portfolio and grind you down with demands for keeping up with the Joneses. I call it the no balls alternative.

So for me - rather balls of steel and the gnashing of teeth from the old trouble and strife, than no balls and keeping up with the Joneses.

[Jim Nickerson]

Re: gold to $650, silver to $9.80

Lukester's undisclosed advisor's call: Gold 650, silver 9.80 based on ??

Bensimon's July call. Gold 732 in April or May 2009 based on Elliot wave and Fibonacci numbers.

akrowne's assessment. $780 marginal cost of production of gold

babbittd: Robin Griffiths 750 based on ??

EJ.'s call: He just knows--780

http://stockcharts.com/h-sc/ui?s=$GO...69&a=129594324

Here's stockcharts.com continuous contract prices with low yesterday of 777.70.

If EJ, akrowne, or Griffiths are near correct, most of the pain is passed.

If Bensimom is correct there is still 5.9% to the downside from yesterday's low.

If the undisclosed advisor were to be correct, there is still 16.4% to the downside from yesterday's low for gold.

[Andreuccio]

Re: gold to $650, silver to $9.80

To me, a useless one liner.

Here you go, Jim. Full bio. I assume this is the same Phirang:

http://boombustblog.com/index.php?op...id=62&pageid=2

He's "an entrepreneur who exists just outside of mainstream corporate America and Wall Street."




Or, alternately, he's a European, or a disease (Sometimes Google is not your friend. ):

After Madhav Nidan, the next in line of famous Āyurvedic books Bhav Prakash was written during the time that the Portuguese first came to India in 1498 by a man named Bhav Mishra of Madras (now known as Chennai). The period in which he wrote can be pinpointed so accurately because in the Bhav Prakash, he described the symptoms of a disease called "Phirang" which was introduced to the subcontinent through contact with the Europeans. ("Phirangi" was the word used to describe Europeans in India.)

BTW, reading this got me thinking that the Indian word for Europeans, Phirangi, sounded a lot like "Ferengi" from Star Trek. Sure enough, according to Wikipedia, (which, by the way, is definitely not your friend, even though it purports to be),

Etymology

"Ferengi" and similar terms are Arabic names for European traders, or for Westerners in general. Both the Arabic word and the name are similarly pronounced [fɛˈrɪŋɡi]. The name is likely derived from the Arabic word faranj or ifranj, "Franks", or possibly the Persian word farangi, meaning "foreigner". In Ethiopia, ferenj or ferenji has the same meaning. The Greeks sometimes use fra[n]gkoi (φράγκοι) as a mild slur against western Europeans. The term was used as a partially derogatory term in India to denote the British; however, the word is often used in an affectionate way. The Star Trek usage is derived from the above.^{[1][unreliable source?]}
"Grand Nagus" is the appellation of the Ferengi head of state. The similarly pronounced "Negus", a loanword from Ethiopic languages, was up until a few decades ago the appellation of the Ethiopian head of state for several centuries / millennia. It comes from the Afro-Asiatic (Semitic) root verb for reign, "N-G-Ś".

Learn something new every day.

[Jim Nickerson]

Re: gold to $650, silver to $9.80

You gotta love Jim's handle. No screwing around with acronyms or cryptic monikers... 'my damn name is Jim Nickerson!' I love it.

Jim, I feel like you're the kind of guy who likes to look a man square in the eye, and all this anonymous internet stuff just isn't your style. I can respect that. But I also respect anyone's desire to remain anonymous for reasons including those EJ outlined, as well as general privacy.

I feel like there are a lot more people here playing down their credentials than there are bullshitters purporting to be big shots. Me? I bring nothing to the table here other than $95 a year and enough of a brain to keep up with the lot of you most of the time. No 'actionable trade info' here.

(I hate these frickin' things but for some reason I have started using them)

Jimmy

I know who you are, Jimmy, and you have gone to the trouble to make some worthwhile observations, contributions and raise meaningful questions.

How about writing the screen-names of some who you think "are playing down their credentials"? I try not to make more out of a comment than can be interpreted from the words written, i.e. that is to make baseless presumptions about what might be a background of the writer. I tend just to mostly blow off the comment.

If anyone asked me about how screwed up is medicine, I would surely write however screwed up it is, it would be pure pandemonium if the contributions to the medical literature were done under anonymity or presentations at scientific meeting given by masked researchers. You are correct, my "style" has never involved anonymity.

[metalman]

Re: gold to $650, silver to $9.80

Absolutely not, that I was a dentist and claim no economic, banking, or finance background, any reader who chooses to check out who I might be should see that anything I think should only be taken with reference to any arguments or supporting links I might choose to attempt to make a point. I never have attempted to post anything in which I insinuated that I had some professional background in investing or in any of the many areas of economics, banking, finance, whatever.

also, don't need to keep reminding us that you are not smart.

Just how in the fuck do you know phirang-spook is a pro in anything? Did I miss his resume somewhere? Point me to it, and I would read it with interest. I don't assume anyone is a professional by virtue of what they may write. If Finster was honest, he posted some of the most lucid insights ever put up here, and he was not a professional. Neither is bart, but their posts reflect a lot of study, insight, experience, same for jk, and same for GRG55 who as least has identified his area of life experience.

you totally missed ej's point. a resume don't tell you shit. what members write over 100+ posts does. that's why you respect finster and grg and bart.

Tell me a better designation for anyone, including you, who writes strong opinions or seemingly knowledgeable opinions when there is no way any reader who visits here can gather just who is the fuck you or anyone else might be. Are they supposed to go back and try to read every post metalman ever put up in order to arrive at whether anything he posts is worth reading. Easiest way is to ask: who is this dude? and click their screen-name and see what their bio might reveal. When it reveals nothing, the questioning reader is left wondering: who is this dude?

so what? if i told you i was paul ******* volcker would you believe me? would it matter? name all the members here with credentials and name out in the open... only one i know of.

metalman, point me to any instance where I have ever made "fun" of any poster's bio. I don't think it has ever happened.

not everyone has thick skin like you do. it's a mistake to assume so. i'm sure i'm not the first person in your life you've heard say that.

I don't think I have attempted to discredit anyone who I think is a spook. "Spooks" in my opinion would increase the possibilities of their being credible if they chose to qualify themselves in whatever manner they chose. Putting nothing in one's bio is a choice, but it does nothing for qualification.

Economist, retired; interests: misdirection; hobbies: swinet. Who am I?
This one is easy. Only Alan Greenspan plays the swinet. What's a swinet? Stretch a rubber band across a hog's ass and blow on it.

dunno, that sounds kinda contemptuous, don't it? in any case 'spook' is a shit poor choice of terms. guests can take it the wrong way.

If everyone here is happy with not giving a shit from what background people put up their opinions, then great, it is I who is out in left-field or is that right-field?

you are the only person complaining, here or on any forum i've ever been on.

I try not to waste my time posting or the time of those who might read something I post, but for me it seems appropriate to try to present the reasons behind what I think or conclude from the topic at hand. I've learned a lot here, and it was not from poorly written one-liners with a lot of text messaging initialisms and cryptic propositions from people who never went to the trouble to argue their positions.

This horse is dead as far as I am concerned.

and ej, if you're reading this, if you want jim to 'get it' attribute your stuff to richard russell or someone else jim's age.

[ronin]

Re: gold to $650, silver to $9.80

...While I'm here, taking a quick break from the book writing, I've received a few PMs and emails regarding my call of $780 for gold's bottoming in the recent price crash. The questions can be summed up as, "How'd you do it?"
...
There are a lot more inputs to determining tops and bottoms in prices in the gold market, and the top of the housing and tech bubbles, but the process for me is more or less the same. I read an enormous amount of material, talk to a lot of industry people, load it all in, push the data around for along time by writing and creating spreadsheets and charts, and eventually my brain, as best as I can describe the process, organizes it, finding the signal in the noise. It is not infallible but I usually know when I know, and know when I don't know.

I've always done this. My best guess as to how I came by this odd skill is that as the third and last child of three born to parents who'd gotten mighty bored with kids after the first one, I was left to figure just about everything out for myself. The bad news is that it's hard for me to learn things the way that everyone else does, by instruction, so school was tough for me, except for writing.
..."

Thanks for providing some insight into the process you use. I appreciate knowing. I'm glad you have the skills; sorry to hear how they were developed.

I also appreciate Itulip. I only wish I had known about it in 2001. Keep up the good work.
Cheers.

[jimmygu3]

Re: gold to $650, silver to $9.80

he doesn't know how to use google. he's still trying to figure out the dewey decimal system.

You gotta love Jim's handle. No screwing around with acronyms or cryptic monikers... 'my damn name is Jim Nickerson!' I love it.

Jim, I feel like you're the kind of guy who likes to look a man square in the eye, and all this anonymous internet stuff just isn't your style. I can respect that. But I also respect anyone's desire to remain anonymous for reasons including those EJ outlined, as well as general privacy.

I feel like there are a lot more people here playing down their credentials than there are bullshitters purporting to be big shots. Me? I bring nothing to the table here other than $95 a year and enough of a brain to keep up with the lot of you most of the time. No 'actionable trade info' here.

(I hate these frickin' things but for some reason I have started using them)

Jimmy