TURK 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] TJ, Thanks for the advice. However, I am an old Vietnam Vet who was a point man in the Delta and behind the lines for 2 months in Cambodia. I am armed with a very nice dependable AK74 for just the reasons you mentioned. I also know a lot about asymetrical warfare since I was on the receiving end of it in 1969. I am old now but the lessons learned have not left me. I will protect my family and their future against anyone no matter who they are. My beliefs about the future are obviously different than a lot of folks on this board. But they are based on history of govs and central banks and what they have done in the past. Like Solomon said, there is nothing new under the sun. What has been will be, what will be has already been done. I have a LOT of bullion and yes, I think hyperinflation will hit sooner than later. Link to comment Share on other sites More sharing options...
K Wave Rider Posted October 17, 2008 Report Share Posted October 17, 2008 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. 701103[/snapback] key word industrial..........thus the hammering Link to comment Share on other sites More sharing options...
K Wave Rider Posted October 17, 2008 Report Share Posted October 17, 2008 TJ,Thanks for the advice. However, I am an old Vietnam Vet who was a point man in the Delta and behind the lines for 2 months in Cambodia. I am armed with a very nice dependable AK74 for just the reasons you mentioned. I also know a lot about asymetrical warfare since I was on the receiving end of it in 1969. I am old now but the lessons learned have not left me. I will protect my family and their future against anyone no matter who they are. My beliefs about the future are obviously different than a lot of folks on this board. But they are based on history of govs and central banks and what they have done in the past. Like Solomon said, there is nothing new under the sun. What has been will be, what will be has already been done. I have a LOT of bullion and yes, I think hyperinflation will hit sooner than later. 701112[/snapback] I think the gold chart will tell us when that time is approaching. I still think it is at least a few years off yet, and that we could see Gold in the $500-600 range in the interim. Any trading above $930 now, would probably signal that the wheels are about to come off the Buck........ Link to comment Share on other sites More sharing options...
TURK 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 won't say you are wrong because I have a great deal of respect for your abilities. But there are different was to look at things. You look at the comex price charts, I look at actual sales. These prices do not just apply to schlock dealers but to fleabay prices of actual sales. I know AMike hates fleabay but it is the single largest market in the world....except the fed selling treasuries Link to comment Share on other sites More sharing options...
Lemur Posted October 17, 2008 Report Share Posted October 17, 2008 Gap down today will pick off the stops for those who bottom fished the gold stocks yesterday. So to confirm a low - lets see if they close the gap and take it up afterwards. Link to comment Share on other sites More sharing options...
DrStool Posted October 17, 2008 Report Share Posted October 17, 2008 3 and 5 day cycle indicators still in buy mode. SPX holding above the upturned 3 day cycle MA at 912.04. If that breaks, should mark early failure of 3-5 day cycle up phase. If it holds, we could still see a churn higher. 5 day cycle MA now 936, 8 day now 941 Link to comment Share on other sites More sharing options...
K Wave Rider Posted October 17, 2008 Report Share Posted October 17, 2008 I won't say you are wrong because I have a great deal of respect for your abilities. But there are different was to look at things. You look at the comex price charts, I look at actual sales. These prices do not just apply to schlock dealers but to fleabay prices of actual sales. I know AMike hates fleabay but it is the single largest market in the world....except the fed selling treasuries 701115[/snapback] I will HAPPILY fade whatever is the latest craze on FleaBay. Link to comment Share on other sites More sharing options...
phatbubble Posted October 17, 2008 Report Share Posted October 17, 2008 Long SSO at 29.81 the open. SPX at 920 is on spaghetti support on almost every timeframe from 1 min to 1 hr. Link to comment Share on other sites More sharing options...
cwd 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] I am a slow learner, got rid of half yesterday. Link to comment Share on other sites More sharing options...
astral mike Posted October 17, 2008 Report Share Posted October 17, 2008 pivot should be set at the top of the hour... Link to comment Share on other sites More sharing options...
K Wave Rider Posted October 17, 2008 Report Share Posted October 17, 2008 ES winding up in the jaws of the 4k alligator.....950 and 910 are the pivots now.. some scapable noise in between.... Link to comment Share on other sites More sharing options...
ChicagoBear 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] And just what is Armageddon? Nukes flying would be one scenario, but at least most everybody would die and not have to live through the aftermath. What we're watching now is DMD's (Derivatives of Mass Destruction), which are much more stealthy, just as lethal (to every government on the planet), and leaves everyone to live through the aftermath. This has Mad Max implications. How do you buy and sell goods if the fiats have no value? If you have not already done so, and if it's still possible, owning physical (at whatever premium) is a good insurance policy against this type of Armageddon. And if Armageddon never comes, well then it is a store of value that can be passed on to the next generations so they might have the insurance policy. At the very least, in the interest of diversification in your portfolio, it is smart (IMO) to periodically convert some of your paper gains into physical assets. There are lots of choices, but I believe gold is the best. If gold really is nothing more than a pretty rock, why do central banks still hold it in this day and age? Do you think they view it as an insurance policy? No offense, Trader Joe. I'm not taking a shot at you by any means. I'm just using your post to take the soap box. I will be forever groveling to your accumen until I get my first 6 figure day. (That was just incredible!) I'm out today. Mad Max has loaded up the car with several toys and needs training. I heading to the outdoor shooting range. Taking a .223, a 5.56mm, a 12g. and a .45. I love the smell of gun powder in the morning....it smells like victory. Opex = lots of noise today. I tried to go short yesterday ahead of this. I was anticipating a blood bath today. Got burned - intraday swings are just too volatile to hold anything. I'm leaving it alone. Be careful out there. Link to comment Share on other sites More sharing options...
I_Am_Madness Posted October 17, 2008 Report Share Posted October 17, 2008 I won't say you are wrong because I have a great deal of respect for your abilities. But there are different was to look at things. You look at the comex price charts, I look at actual sales. These prices do not just apply to schlock dealers but to fleabay prices of actual sales. I know AMike hates fleabay but it is the single largest market in the world....except the fed selling treasuries 701115[/snapback] I've been hearing and reading alot about how physical metal does not relate to how the paper gold is trading. Demand is strong and supply is limited. Have anyone thought that maybe it's the major miners doing all the shorting to lock in prices for the coming year because of this credit/financial meltdown? Makes total sense in a business standpoint. Link to comment Share on other sites More sharing options...
I_Am_Madness Posted October 17, 2008 Report Share Posted October 17, 2008 Gap down today will pick off the stops for those who bottom fished the gold stocks yesterday. So to confirm a low - lets see if they close the gap and take it up afterwards. 701116[/snapback] Still holding all my GG. Link to comment Share on other sites More sharing options...
Lemur Posted October 17, 2008 Report Share Posted October 17, 2008 Still holding all my GG. 701125[/snapback] Same here. Holding GG, AUY, SLW plus juniors. More patient than confident though. Refusing to get knocked out by the stop runs. Link to comment Share on other sites More sharing options...
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