stevieo Posted October 17, 2008 Report Share Posted October 17, 2008 I'm looking more at silver. It's looking like it wants to get back to my last buying price at $6. I'll buy more at that price, if I can find any. Doubtful I get the chance. Link to comment Share on other sites More sharing options...
Lemur Posted October 17, 2008 Report Share Posted October 17, 2008 Methinks Gold is toast for a while... 'course, nobody believed me at $930 a few days and $150 ago... Platinum with just UFB drop....now $860 701094[/snapback] Bulls & bears battling it out here at support but Gold does look like it has a date at $740. Link to comment Share on other sites More sharing options...
juggler Posted October 17, 2008 Report Share Posted October 17, 2008 Wasn't Bush a cheerleader at Yale, or whereever he got his 'educacion' back to the future :D Bush to give pep talk to anxious country Friday Friday October 17, 8:46 am ET By Jeannine Aversa, AP Economics Writer Bush to give pep talk Friday to country racked by economic, financial problems http://biz.yahoo.com/ap/081017/financial_meltdown.html Link to comment Share on other sites More sharing options...
K Wave Rider Posted October 17, 2008 Report Share Posted October 17, 2008 Bulls & bears battling it out here at support but Gold does look like it has a date at $740. 701098[/snapback] When you read in the papers about PM hedgefunds imploding like Amaranth, then will prolly be good time to load the boat long.... Link to comment Share on other sites More sharing options...
TURK Posted October 17, 2008 Report Share Posted October 17, 2008 I'm looking more at silver. It's looking like it wants to get back to my last buying price at $6. I'll buy more at that price, if I can find any. Doubtful I get the chance. 701097[/snapback] There are always opportunities....sometimes you just have to look harder. I wonder what the sellers premium will be at $6 spot? Maybe $10/oz?? I have thought about charting the price from dealers with their premium included. The chart would look radically different from the comex price chart. I am putting much more weight on the actual sales prices rather than the comex price since I think the comex price is pretty much bogus. We shall see! Link to comment Share on other sites More sharing options...
K Wave Rider Posted October 17, 2008 Report Share Posted October 17, 2008 There are always opportunities....sometimes you just have to look harder. I wonder what the sellers premium will be at $6 spot? Maybe $10/oz??I have thought about charting the price from dealers with their premium included. The chart would look radically different from the comex price chart. I am putting much more weight on the actual sales prices rather than the comex price since I think the comex price is pretty much bogus. We shall see! 701101[/snapback] When all those idiots that are paying a 70% premium to spot give it up, and refuse to pay hardly any premium at all, then it might be a good time to look at LT purchase. As the hope on the slope diminishes, those premiums will come down.... Link to comment Share on other sites More sharing options...
Lemur Posted October 17, 2008 Report Share Posted October 17, 2008 Methinks Gold is toast for a while... 'course, nobody believed me at $930 a few days and $150 ago... Platinum with just UFB drop....now $860 701094[/snapback] So Platinum now is virtually the same price as gold even though it is rarer, more expensive to mine and has more industrial uses. But so what, I guess fundamentals don't matter a damn in this trading business. Link to comment Share on other sites More sharing options...
byhiselo Posted October 17, 2008 Report Share Posted October 17, 2008 I'm still looking for approx. 200 points downside on the SPX starting sometime between now and Wednesday. I would change that stance if they can break the down-sloping trend channels to the upside. Today's action will be interesting fer sure. Futures look schizophrenic. I'm surprised. I was expecting a gap up for OpEx, figuring they would try to take back 950 (of course, that could still happen in the next couple hours). 701069[/snapback] yes, target of 7100 DOW, watching DXD for a long entry i'd rather not see that level but this market is going to go where its going to go... its not taking any prisoners and doesn't give a damn about 401K's or pensions Link to comment Share on other sites More sharing options...
DrStool Posted October 17, 2008 Report Share Posted October 17, 2008 Precious Metals - http://wallstreetexaminer.com/gold/gold101708.pdf Link to comment Share on other sites More sharing options...
Trader Joe Posted October 17, 2008 Report Share Posted October 17, 2008 When all those idiots that are paying a 70% premium to spot give it up, and refuse to pay hardly any premium at all, then it might be a good time to look at LT purchase. As the hope on the slope diminishes, those premiums will come down.... 701102[/snapback] I will never understand why someone would pay a premium to some schlock dealer and want to hold the physical....but that's just me....the situation that comes too mind where having the physical would be a good is just so Armageddon that transporting the physical would be impossible and more than likely you would be relived of your bullion and you life by some gun totting Mad Max types.....just my opinion......guess I am slightly prejudiced though, as many I know would consider me a gun totting Mad Maxx type.... Link to comment Share on other sites More sharing options...
astral mike Posted October 17, 2008 Report Share Posted October 17, 2008 When all those idiots that are paying a 70% premium to spot give it up, and refuse to pay hardly any premium at all, then it might be a good time to look at LT purchase. As the hope on the slope diminishes, those premiums will come down.... 701102[/snapback] Link to comment Share on other sites More sharing options...
Jetlag Posted October 17, 2008 Report Share Posted October 17, 2008 I will never understand why someone would pay a premium to some schlock dealer and want to hold the physical....but that's just me....the situation that comes too mind where having the physical would be a good is just so Armageddon that transporting the physical would be impossible and more than likely you would be relived of your bullion and you life by some gun totting Mad Max types.....just my opinion......guess I am slightly prejudiced though, as many I know would consider me a gun totting Mad Maxx type.... 701106[/snapback] I see the premium simply as buying any other product at a retail shop and paying a 2x markup. So your a consumer of silver not an investor in that case. I never bought silver. Link to comment Share on other sites More sharing options...
Lemur Posted October 17, 2008 Report Share Posted October 17, 2008 When all those idiots that are paying a 70% premium to spot give it up, and refuse to pay hardly any premium at all, then it might be a good time to look at LT purchase. As the hope on the slope diminishes, those premiums will come down.... 701102[/snapback] I am not so sure about that. Listening to Jeff Christian (I have one of his books and he seems objective rather than just taking it up) on FSO he points out that people who buy gold tend to hold on to it as a long term store of value especially given the current uncertainties. OK that did not apply in 1980 but back then the public was selling into the high prices. Now they are buying. A lot of the fundamental arguments round gold have not changed and the hyper-inflation argument still has plenty of room to play out if thats the way things break. Link to comment Share on other sites More sharing options...
Jetlag Posted October 17, 2008 Report Share Posted October 17, 2008 Buffet went all in "Warren Buffett said he's buying has bought U.S. stocks and, if prices stay attractive, his personal investments, as distinct from his stake in Berkshire Hathaway Inc., will soon be are already wholly in American equities. " http://www.bloomberg.com/apps/news?pid=206...7HUg&refer=home Corrections by yours trully Link to comment Share on other sites More sharing options...
Lemur Posted October 17, 2008 Report Share Posted October 17, 2008 I will never understand why someone would pay a premium to some schlock dealer and want to hold the physical....but that's just me....the situation that comes too mind where having the physical would be a good is just so Armageddon that transporting the physical would be impossible and more than likely you would be relived of your bullion and you life by some gun totting Mad Max types.....just my opinion......guess I am slightly prejudiced though, as many I know would consider me a gun totting Mad Maxx type.... 701106[/snapback] Agree if you are talking about gold coins. However, I have most of my reserves stored as gold bullion in Switzerland. So if the Irish or Uk banks were to do an Iceland or Argentina, I would be sitting pretty. We were close to that a couple of weeks ago when the govt stepped in. Currency controls at some date on the future for you guys in the US as some have been warning about are not out of the question either. Link to comment Share on other sites More sharing options...
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