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PMS Weak End Upchuck for Oct 4,5


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Tonto said:

 

"Due to the upcoming election etc. at the absolute must hold up mentality in the markets seem to tell me that gold/silver miners will be better off investing in towards next summer or spring.....to much at stake and with the vix etc. so low it seems a must to get fear out of the markets....I got a good lesson friday oin how manipulated gold can be."

 

Tonto:

Any true believer in the existence of the "matrix" would be strongly inclined to respect your prediction, but what if ?it is known by spring of 04 that revenues continue to decline to the point where there will be a 1 trillion $ or greater deficit... that could rain on the Bush parade.

Logic tells me you may be right, but I can offer no guarantees that the holy dollar won't go down another 20-30% before the election.. thus shooting gold upward.

 

I am thinking out loud here.. any comments from our fellow gold followers?

no clue...all I know is that was absolutely pathetic friday and at age 30....my 401k is screwed for the long haul most likely and when the markets turn around and goes down many might be better off changing jobs for the simple reason of rolling their 401 to an IRA and going short in Rydex inverse funds.even after company match ......most of my friends are high fiving saying naz to the moon stuff....the turnaround is here etc.....Im thinking oh my gosh this is horrifying and Im so ashamed that 99% of the public here will probably blame other countries for our problems a year from now and of course hold everything in there port till it goes to 0.......ex. my dad held all Janus mutual funds etc. which were part of his 401k plan at Conoco for over 60-70% losses......he of course says he wont let it happen again....Im sure he thinks he will sell and buy back at better times....he hacked two of my miners gains on fri by reentering them wednesday after I told him to stay out after selling week before at a bad time and gave reasons with hui etc....he sold friday morning for bad losses...lost 4 months of gains on BGO and WHT which we bought right near 1 on both....he went with a much larger position.....reentry was because, "it looked like things were going up"..here that way to much now......he couldnt go even a week without being in the market.I have gotten a job and wont have time to do it for him for awhile.....He knows nothing on stocks but figured he had turned to a master or something and could match my results with 5 minutes of work after I spent 10 hours a day pretty much every day on them. At this point I dont feel comfortable not being able to look at the screen all day at this point...I in turn am now freaked out completely of what he will do next when Im not around....only started doing it recently after I took him to 50% cash etc. and sold miners...wasnt interested in to much tech garbage..he said fine he would just buy mutual funds...bought small cap high risk stuff that had 5 star ratings...I said that probably means they will have a 1 star after next year...high risk......stupid Crapvision people... he said he was watching them and they said things looked good... ;) ...I said well why doesnt everyone just load in the market and nobody will ever lose......he replies, its all about time....I said, just make sure that time is the right one....what if you needed the money for an emergency last year?......youd be ruined......any ideas of how to keep such things from happening?......I compare to a 90 year old thinking he can run a 100 mile marathon because he saw someone else do it..

 

I of course would never have done as well without all the knowledge I have learned here....

 

thor, please delete if off topic, sorry! I made great gains for my dad this year and wanted him to just stay out of the market.....2 weeks later he had lost 40,000 and didnt even tell me...made it 5 days on the side.I was laid off and traded for him for cash since June.Now Im working again so cant do it......found out about miners earlier.. :( I have worked so hard....I feel I cant even leave him alone for a minute....he watches that Crapvision all the time and I stop him from doing stuff all the time...he is clueless on the internals of the economy and I have no clue of how to even really start...hes really slow....an engineer retired......he writes stuff down, rewrites it, prints and frames it, makes graphs etc... but never thinks about actually trying to research anything... :cry:

I have managed his portfollio all year and worked hard on it...he lost 10% of it in one week without me around and even bought some penny stock garbage he heard on Crapvision that day...lost 3k in one day on it....it was up 300% in a month when he bought it.... :cry:

 

I think the majority of the public thinks like him...hes seems to think hes in the top 5% all of a sudden as do most who dont realize the odds..they are different....thats the ones who actually survive trading etc....which is what he ends up doing since he just retired in January and has so much time on his hands....any help or ideas from anyone would be a lifesaver...........I can see the miners retrace on lighter volume next week and he does it again....even though I warned him already... :cry:

 

 

There is also the chance of the its going right back but I think odds are alot lower this round than last time when it quickly recovered. Just since it seems obvious that could be in play and correct me if Im wrong but doesnt gold over 400 be danger simpleton style for the economy and manys indicator......

What am I a deleting machine? :lol:

 

No, your heartfelt rantings are significantly gold related. A pass, me lad!

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Just because you and assumedly the author of the article you quoted do not believe in something does not mean that said something does not exist........ and just because you say it does exist.... yada yada yada. What I DID say was that regardless of wether or not the tooth fairy is behind the POG decline.... prudent invstors and WISE traders realized it was time to book profits ( partial or all)... the probabilites that the HUI would continue on its ascent were seriously diminished

 

 

I don't think it is wise to claim that established evidence of the existence of forces railed against gold is merely an excuse for bad trades...... No bad trades are a result of the trader I DID SAY THAT....and I DID SAY that there are many people in life who refuse to LOOK IN THE MIRROR.... blame casters

 

I also will tell you that 70% of the time I am wrong... yup out of 10 trades 3 suck alot 4 suck a little and 3 don't suck at all... so how do I succedd? thru money mgmt skills and letting the 3 that don't suck run....

 

 

THORnberry you have been sucked into the whole load of CRAP that is floated over on Merve2 Perve... where "freinds don't let friends trade OE week" or how about EOM ramp jobs, Forensic crap, or the Matrix ....to my way of thinking this is a cop out.... with all that nonsense they harp on about is it any wonder people can't trade

 

Regardless of what I believe or better yet what YOU beleive ... plan your trade, and trade your plan. Learn from your mistakes and be ruthlessly honest in your self evaluation....

 

AB

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Russia buys just under 43 tonnes for reserves.                                                                                             After the announcement by the Russian Central Bank that it would be acquiring up to 10% of its reserves in gold, were it not for certain monetary restraints, the bank issued this statement, reported by the Russian News Agency Tass: -  ?On September 19-26, Russia's gold reserves have grown by 500 million dollars, Prime -Tass reported on Thursday with reference to the public relations department of Russia' Central Bank.   Now, the gold and hard currency reserves are 31 percent up against the reserves estimated at 47.8 billion dollars by January 1,  2003.?    ? The English is theirs and so we have to guess exactly what this means.   Our understanding is that Russia, probably by buying locally produced gold, acquired just below 44 tonnes of gold for its reserves, an increase in these reserves of 10% taking the total to just over 431 tonnes.   Such an off-market  purchase is the usual method and leaves the gold price unaffected.   This amount still leaves a substantial amount of gold to be purchased to Russia?s target of 10% of its reserves held in gold.   As has been occurring in other facets of the market, the supply of gold to the market is falling, not the demand, at this stage.   Indeed, the dropping supply feature has been one of the main driving forces behind the price.  

 

http://news.goldseek.com/AuthenticMoney/1065380016.php

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China                                                                                                                                                                          An important survey in China reports on the potential market for gold amongst Chinese individuals could extend to up to 30% of their savings.   Seen against the background of a primitive banking system in China and the traditional favouring of gold as a means of saving, this survey could well be accurate.   However, there is a distinct reality ?gap? between this survey and the gold available in today?s markets.   To achieve the quantity desired, at present prices, would lead to purchases of over 2000 tonnes.   As there would have to be a meeting of demand and supply, the weighty question would be, at what price?   At this juncture, it is enough for the market to realise that the day the Chinese government give Chinese citizens the nod to buy gold for themselves, the price at which such demand will have been satisfied will be considerably higher than the current price!
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All kidding aside, I agree with ab.

 

As a new trader I booked profits on my winners, instead of letting them run, and kept my losers. Come to think of it, I'm still trying to off load some deadbeats at a decent price.

 

On the other hand, I agree with Thor that there are forces at work in the markets, but, I'm just not sure how productive the argument is.

 

I just hope Canada doesn't get Liberated. :lol: <_< haaaaya!

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THORnberry you have been sucked into the whole load of CRAP that is floated over on Merve2 Perve... where "freinds don't let friends trade OE week" or how about EOM ramp jobs, Forensic crap, or the Matrix ....to my way of thinking this is a cop out.... with all that nonsense they harp on about is it any wonder people can't trade

Puh-lease! :P

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Dogs, Cats, Mushrooms, Toadstools. I may sound like I come from fantasyland and let's face it I am a creature of lore but I believe as I believe, think as I think and act as I act.

 

There was obviously plenty of warning for traders to get out ahead of the smackdown. Does not affect my belief that it was a concerted effort. Since I believe it was a concerted effort I will watch how the market reacts to it. I intend to use that information in future decisions. If evidence suggests that there was no concerted effort and normal market forces were in play then I will use that also. I use everything that I think is worthwhile.

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Dogs, Cats, Mushrooms, Toadstools. I may sound like I come from fantasyland and let's face it I am a creature of lore but I believe as I believe, think as I think and act as I act.

 

There was obviously plenty of warning for traders to get out ahead of the smackdown. Does not affect my belief that it was a concerted effort. Since I believe it was a concerted effort I will watch how the market reacts to it. I intend to use that information in future decisions. If evidence suggests that there was no concerted effort and normal market forces were in play then I will use that also. I use everything that I think is worthwhile.

que up some Jefferson Airplane puh-lease.... Alice

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