IDS World Markets Fri 17th October 08
337 replies to this topic
Posted 17 October 2008 - 08:56 AM
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.
Posted 17 October 2008 - 08:58 AM
Bulls & bears battling it out here at support but Gold does look like it has a date at $740.
Posted 17 October 2008 - 09:00 AM
Wasn't Bush a cheerleader at Yale, or whereever he got his 'educacion'
back to the future
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
Posted 17 October 2008 - 09:02 AM
When you read in the papers about PM hedgefunds imploding like Amaranth, then will prolly be good time to load the boat long....
Posted 17 October 2008 - 09:03 AM
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!
"Damn, the price of this stuff jumps around alot!"
Hokahay October, 2008
"Analyzing the spot price of gold is akin to analyzing the output from a randon number gereator." -ancient chinese proverb
Posted 17 October 2008 - 09:08 AM
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....
Posted 17 October 2008 - 09:10 AM
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.
Posted 17 October 2008 - 09:14 AM
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
Posted 17 October 2008 - 09:15 AM
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....
Posted 17 October 2008 - 09:16 AM
Posted 17 October 2008 - 09:19 AM
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.
Posted 17 October 2008 - 09:21 AM
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.
Posted 17 October 2008 - 09:24 AM
Buffet went all in
"Warren Buffett said
Corrections by yours trully
Posted 17 October 2008 - 09:26 AM
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.
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