Monthly Digger - September 2010

[goose]

Here is the latest on gold from Armstrong, http://www.martinarm........7-2010.pdf

 

 

If anyone can break it down into simple to understand language I'd be very happy , I'm not to embrassed to admit I need things simple.

[Private Skidmark]

Here is the latest on gold from Armstrong, http://www.martinarmstrong.org.....7-2010.pdf

 

Thanks for that.

[dharma]

Thanks for that.

here is some perspective on the bull in the pms

http://thedailygold.com/commentaries/goldsilver-vs-50-historical-bubbles/?p=4501/

looks like we got a ways to go

dharma

[Whadda I Do Whadda I Do]

If anyone can break it down into simple to understand language I'd be very happy , I'm not to embrassed to admit I need things simple.

 

It's not simple unless you buy/hold/walkaway for years at a time. Even Armstrong admits his targets are like turn dates. If this high happens then that low happens analogy and if this price hits on that date then some price will be here on this date.

 

He did say if $1300 wasn't broken then a correction could occur until next June with possibly a $1000 bottom (technically even $600 wouldn't kill this bull) until the next leg up begins (and this would cause a really strong move up if you didn't jump of a cliff while waiting).

 

or

 

Break of $1300, a run to his upper channel/projection lines before a major correction happening at some other point in time.

 

All these actions need confirmations on weekly/monthly/yearly-time frames coinciding with cycle/target dates. Meaning like a spike through $1300 is no signal unless you get a close above $1300 for a couple of days or a test to see if it supports.

 

His gold cycle says 11 years into a bull run certain types of actions predict the length and height of a continuing bull. That part has to play out a while longer for clarity.

 

All in all it makes for great trading as nothing ever travels in a straight line. You might take profits waiting for a June low or take profits on spikes waiting for pullbacks as Armstrong points out that spikes up and down make a market if no cash were flowing, charting would be unless.

 

Cash is a position. Either way she breaks I have no problem with selling as I have enjoyed this nice run.

[Ageka]

I got completely out of GBG MGH in the green. Trying to stay away from South African mines. China, I just can't see through an iron curtain to watch what is going on. Sold NGD for profit. Silver is the wild card here, it needs to correct at some point.

 

Gold could just go sideways if it is not going to spike and blow off or the pullback will be shallow again.

 

 

I am still 97.5% in

All my losses this week are in dollar exchange rates

( Us and Cad)

I am patiently waiting for my high in gold which will not do me any good if the dollar keeps crumbling

 

GBG is a smart move if your trading costs are low

They ask me 2% conversion and keeping it in a CAD account is as risky for me; so I convert money every time to euro

[GRINCH]

 

 

Here's simple:

 

Simon says:

[goose]

Thanks Whadda for breaking it down for me. I'll continue to hold my core and trade the rest.

[Whadda I Do Whadda I Do]

Good luck goose and everybody else. This is brand new territory and anything can happen.

[Ageka]

Good luck goose and everybody else. This is brand new territory and anything can happen.

 

I made my weekly charts ( only possible on sunday)

and I still believe the high is coming and 1320$ or more

after 3 to 7 rising days is what we minimum are heading for .1400 $ would not surprise me.

[KnowsNothing]

EU CBs halt Gold Sales

 

 

Quote:

Europe’s central banks have all but halted sales of their gold reserves, ending a run of large disposals each year for more than a decade. The central banks of the eurozone plus Sweden and Switzerland are bound by the Central Bank Gold Agreement, which caps their collective sales.

 

In the CBGA’s year to September, which expired on Sunday, the signatories sold 6.2 tonnes, down 96 per cent, according to provisional data.

 

The sales are the lowest since the agreement was signed in 1999 and well below the peak of 497 tonnes in 2004-05.

 

The shift away from gold selling comes as European central banks reassess gold amid the financial crisis and Europe’s sovereign debt crisis.

 

In the 1990s and 2000s, central banks swapped their non- yielding bullion for sovereign debt, which gives a steady annual return. But now, central banks and investors are seeking the security of gold.

 

The lack of heavy selling is important for gold prices both because a significant source of supply has been withdrawn from the market, and because it has given psychological support to the gold price. On Friday, bullion hit a record of $1,300 an ounce.

 

“Clearly now it’s a different world; the mentality is completely different,” said Jonathan Spall, director of precious metals sales at Barclays Capital. European central banks are unlikely to sell much more gold in the new CBGA year, according to a survey by the Financial Times...

Continued

[Whadda I Do Whadda I Do]

I sold the news today. Hope for a pullback to reload.

[AgentSmith]

Yes, I too sense that the market will go: up, down, or sideways.

[Private Skidmark]

Does anybody have any experience trying to get stock certificates lately?

 

I'm tempted to sell the shares I have in certificate form to take advantage of the lower long-term gains rate (lower than it will be in two or three years, likely would stay the same for next year but not certain yet) and I'm curious how difficult it would be to buy back and have certificates reissued. Schwab tells me I have to go through the transfer agent now and that it's up to them, whereas in the past Schwab would just take care of it.

[AgentSmith]

As is always the case, gold tip-toes up keeping interest (from new money) down and doubt (with those having positions) high...beautiful behavior.

 

Also as is always the case, you can be sure that when we do correct, the velocity will be fast & furious so as to maximize fear. Same ole same ole. Works great...never needs to change until enough people develop antigens to the bacteria.

 

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

 

http://en.wikipedia.org/wiki/Gresham's_law

[AgentSmith]

Skids: in my opinion, hold the certs. Before the very reasons to hold certs unfold, it would make sense to dangle that carrot/temptation to do the opposite. Personally, I don't hold certs. - if I want to lock into something, it will have to be physical land, machinery, gold, silver, etc.

 

It's very personal with no across the board right/wrong.

 

If we are transitioning to the next phase, then a little bump in taxes won't matter "tooooo" much. Certs would provide extra insurance "in case of emergency." A pretty small price to pay for the insurance I would think.

 

I think it's best, in general, to simply sit tight and/or continue to shift from paper (anything) to physical (anything).

 

Here's a snippet of what I wrote on my Facebook page: "...This commodities cycle will be different than previous though, because populations are going through a long-term stage 3 blow-off parabola. The cycle will continuously have higher highs and higher lows. i.e. the cycle low will only slightly break the previous cycle high. I think this will continue until we reach critical population growth (angle) at which point....http://www.youtube.com/watch?v=u5iFESMAU58."