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Charmin

Monthly Digger - February 2011

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BTW: Who is 7?

 

An old friend I used to know as seven-of-eleven who dealt in gold coins and was really smart with charts and gold cycles.

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The other new big player in BC's Golden Triangle is Pretium Resources, headed by Bob Quartermain formerly of SSRI. Teuton Resources is the big little player with land adjoining both SA's KSM and Pretium's Brucejack Fault gold zones. I own Teuton but like them all. There has been significant recent upside action in all of them.

 

post-2047-12972273793627.gif

 

post-2047-12972273874119.gif

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An old friend I used to know as seven-of-eleven who dealt in gold coins and was really smart with charts and gold cycles.

 

He has a unique set of knowledge and experience

Once a programmer for a large company

Then professional photo shopper ( whence the keen eyes)

Then owner of a business buying coins in estates sales and selling the coins in his shop and on ebay piece by piece

Could grade a coin on sight and predict NGC grading

I helped him on the European side buying ungraded coins

for a few years .

He plays the guitar ( whence his application of harmonics

in his charts )

Keen eye and keen mind and endless patience

with which he corrected my charts for years

He is currently taking care of his mother

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1375 marks the spot for me. a couple of closes above that area and i think we assault the highs, until then , we very could be in correction mode

dharma

almost everyone i read is looking for the fib 1260 #.

i just cant or dont see the market accommodating them

just my 2c

http://1.bp.blogspot.com/_H2DePAZe2gA/TVGvxyyWf_I/AAAAAAAAP1Q/DMV2xl2ZrHk/s1600/golddailytentative.png

this is an interesting chart

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Martin Armstrong's Tipping Point (maybe you have to sign-in but you'll figure it out)

 

More fundamentals so you can understand what's happening i.e. Congress spends and the US Treasury and Federal Reserve manipulates the stock market to make everything appear as if okay.

 

(Sure we all know how it ends but getting there will drive you crazy)

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Even pros get frustrated as silver anal cyst Ted Butler is quoted: "The only potential fly in the ointment is the same potential negative we've always been faced with, namely, the dirty rotten crooks on the Comex, led by JPMorgan and the other big commerical shorts. Recent increases in the open interest on rising prices might mean that these big commercials may have increased their short positions, after notable recent reductions. There is no way of knowing for sure, until we can analyze the COT data on Friday....If the big concentrated shorts have put on additional shorts, it's solely for maniulative and price-capping reasons."

 

"Let me be as clear as I can be. I don't know if the big commercial crooks will institute a sell-off at this point. That's impossible to know. What I am saying is that if we do sell off from here, it will only be because the big commercial short crooks rigged the market lower for their own advantage. The true supply/demand fundamentals dictate much higher prices for silver."

 

Strangely the PM sector action kinda makes sense to me besides if a low needs to be put in (June?) this is a good time to do it as I don't think the lid can be kept on much longer than 6 more months or so.

 

 

 

 

 

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Thanks for the answers on 7.

 

 

What's up with this?

 

Dutch Central Bank Orders Pension Fund To Sell Its Gold

 

DNB has found that such a large proportion of gold is inconsistent with the interests of the participants. SPVG sees gold as a medium of exchange, such as euros, but DNB believes that the price of gold fluctuates too much for it to be classified as an investment.

 

 

 

The price fluctuates too much to be classified as an investment? Inconsistent with the interests of the participants?

 

I wonder what their interests could be?

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1375 marks the spot for me. a couple of closes above that area and i think we assault the highs, until then , we very could be in correction mode

dharma

almost everyone i read is looking for the fib 1260 #.

i just cant or dont see the market accommodating them

just my 2c

http://1.bp.blogspot.com/_H2DePAZe2gA/TVGvxyyWf_I/AAAAAAAAP1Q/DMV2xl2ZrHk/s1600/golddailytentative.png

this is an interesting chart

 

I can always suspect something, but then I never expect to get it right. The open questions I have are:

 

Has the bias shifted to a downtrend

Will the weekly 50bar ma hold as supportive area - currently around 126.

Is the current area under the 50bar ma a B wave in a downtrend to 122.

Will GLD retest the Sept. 14 breakout around 122.

 

http://www.StockSharePublishing.com/ChartLib/GLD_02_10_23_34_1297398879.png

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Thanks for the answers on 7.

 

 

What's up with this?

 

Dutch Central Bank Orders Pension Fund To Sell Its Gold

 

DNB has found that such a large proportion of gold is inconsistent with the interests of the participants. SPVG sees gold as a medium of exchange, such as euros, but DNB believes that the price of gold fluctuates too much for it to be classified as an investment.

 

 

 

The price fluctuates too much to be classified as an investment? Inconsistent with the interests of the participants?

 

I wonder what their interests could be?

Most of the comments on that article got it right, sell the gold and buy mining shares. I guess stockpiling oil and food is out of the question. Anyway, you can see how much power banks wield over the courts. I wouldn't expect any help from the politicians there either, they are on the take too.

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Dutch is my motherlanguage

I read the article about the National bank court order

against the pension fund .

First it is a small pension fund ( like 1150 people represented )

Typically a manufacturers extra legal pension concoction but still subject to the laws of the land governing extra legal pension funds and meant to protect the future pensioners contractual obligations .

The legal defence was poorly constructed and poorly

detailed .

Something like we were underfunded and gold went up and now

we are 104.5% like funded thanks to the gold rush

They have like 13% gold in their portfolio which must be

quite unique for a pension fund .

The arguments of the judge are valid . Any downside reaction in gold ( combined with bonds and shares down what he does not say )could easily push them under 100 %

The judges reasons for ordering to sell the gold would

largely disappear had they been at 113.5% funding of

future obligations.

However the law states that funds have to be well diversified wich was interpreted as no more then 3% in a singal post .

The other argument was they had only one raw material (gold) ( They should have added silver and copper and platina and palladium to void this argument )

The defendants argument that gold is money was simplistic

( Money does not swing 20% in a quarter )

 

The danger of the verdict is however on a much different

level . Prudent well spread investments by persons are only taxed for capital value increase in Germany and Austria if I am not mistaken . ( In any case not in Belgium were I live - no capital tax on gold or shares or bonds here as long as the investment is prudent and not speculation )

If physical gold is not a prudent investment then a 15% taxation could be taken on the realised capital survalue

at the times of sales

 

All this is my personal interpretation without guarantee that I even understood the legalese of the verdict and all

figures were quoted from memory as well as the interpretation of the verdict .

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interesting comments....thanks, I appreciate them.

 

sell gold, buy mining stocks. I like how that sounds.

 

 

interesting battle going on in gold/silver this week. With AMPLE opportunity to sell off from clearly overbought conditions...it refuses to. strange? or the norm going forward?

 

PA leads me to think we break out upwards and o/b conditions get worked off in a sideways consolidation manner or every dip gets bought vigorously, but I'm young and i don't know much, so let's see what happens. A $100 drop in one day is always possible in the back of mind. Though I don't think we'd see the 200dma even in that situation.

 

some tin foil hat stuff...Keiser on AJ: Maguire has some info to drop let alone the monkeys and strippers on yahoo.

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