Gold

[quote author="morekaos" date=1257480501][quote author="ukyo116" date=1257478666]A lot of calls on UUP. Trading halted as well....</blockquote>


That's my girl</blockquote>
Shot up like a rocket when it reopened. I wonder what happened because the dollar didn't really move all that much. Someone knew something yesterday when they were buying blocks of 10k and 25k options at a time on the Nov $23 calls at $.10-$.15.
 
<a href="http://econblogreview.blogspot.com/2009/11/gold-may-be-making-short-term-top.html">Gold as gifts? Must be a top....</a>



<blockquote>Once gold becomes a gift for kids, it's probably over-owned. And is Paris Hilton more likely to be a contrary indicator or an expert who's ahead of the curve?



The whole gold ETF story could one day be looked at as a scam, just as the Internet bubble was a scam. These ETFs could just be a place for unwanted, over-produced gold to be dumped on the public. Tell me gold's worth $400 an ounce or $4000 an ounce; I can accept a case for each. But I can tell you for certain that the Dow is not worth 40,000, and it's probably worth a tad more than 4000. </blockquote>
 
MoreKaos and Bondtrader,



Are you guys still shorting gold right now? I was hoping to buy some more gold at $920-$950 range, but I'm sure if that is ever going to happen? Are we at the "bye bye" three digits for Gold?
 
[quote author="PANDA" date=1257927814]MoreKaos and Bondtrader,



Are you guys still shorting gold right now? I was hoping to buy some more gold at $920-$950 range, but I'm sure if that is ever going to happen? Are we at the "bye bye" three digits for Gold?</blockquote>


adding to shorts
 
[quote author="morekaos" date=1257941055][quote author="PANDA" date=1257927814]MoreKaos and Bondtrader,



Are you guys still shorting gold right now? I was hoping to buy some more gold at $920-$950 range, but I'm sure if that is ever going to happen? Are we at the "bye bye" three digits for Gold?</blockquote>


adding to shorts</blockquote>


Morekaos, I've learned that it is extremely difficult to predict short term movements of precious metals. Even if the dollar rallies 5% in one day, it is possible for Gold to rally even higher at 10% the same day, not the other way around.
 
[quote author="PANDA" date=1257941892][quote author="morekaos" date=1257941055][quote author="PANDA" date=1257927814]MoreKaos and Bondtrader,



Are you guys still shorting gold right now? I was hoping to buy some more gold at $920-$950 range, but I'm sure if that is ever going to happen? Are we at the "bye bye" three digits for Gold?</blockquote>


adding to shorts</blockquote>


Morekaos, I've learned that it is extremely difficult to predict short term movements of precious metals. Even if the dollar rallies 5% in one day, it is possible for Gold to rally even higher at 10% the same day, not the other way around.</blockquote>


Same happened with my shorts on oil and gold last year. It is impossible to pick the exact top but as in horseshoes, hand grenades and slow dancing...close is good enough. Keep on shorting
 
In today's volatile market , investing in Gold is always better option.



Whenever stock market goes down, gold goes up.

Not only this at worst case you will always get what you have invested.



It's better to diversify fund other than stock and Gold is always golden option.
 
[quote author="edward" date=1257958095]In today's volatile market , investing in Gold is always better option.



Whenever stock market goes down, gold goes up.

Not only this at worst case you will always get what you have invested.



It's better to diversify fund other than stock and Gold is always golden option.</blockquote>


If you use the word "always" in financial advice you are probably wrong.
 
[quote author="edward" date=1257958095]In today's volatile market , investing in Gold is always better option.



Whenever stock market goes down, gold goes up.

Not only this at worst case you will always get what you have invested.



It's better to diversify fund other than stock and Gold is always golden option.</blockquote>


Insert word "house" for the word "gold" and I think I have heard this before.
 
[quote author="edward" date=1257958095]In today's volatile market , investing in Gold is always better option.



Whenever stock market goes down, gold goes up.

Not only this at worst case you will always get what you have invested.



It's better to diversify fund other than stock and Gold is always golden option.</blockquote>


You better check your facts, "Whenever stock market goes down, gold goes up." ??!! Am I missing sth? Last time I check, the gold and stock market are positively correlated for the last 12 months. Everytime the market is up, Gold is up because our dollar gets hammered and vice versa.



The reason gold went up so much is simply because of this carry trade (sell dollar, buy everything else), which is the most crowded trade on the wall street, heck, even our Fed is doing it buy printing money restlessly and giving it to the banks to help pump up the market. I'm bullish on the dollar for the next 3-6 months and expecting everything else (gold, equities, bonds, commodities) to correct itself.
 
[quote author="BondTrader" date=1257985920][quote author="edward" date=1257958095]In today's volatile market , investing in Gold is always better option.



Whenever stock market goes down, gold goes up.

Not only this at worst case you will always get what you have invested.



It's better to diversify fund other than stock and Gold is always golden option.</blockquote>


You better check your facts, "Whenever stock market goes down, gold goes up." ??!! Am I missing sth? Last time I check, the gold and stock market are positively correlated for the last 12 months. Everytime the market is up, Gold is up because our dollar gets hammered and vice versa.



The reason gold went up so much is simply because of this carry trade (sell dollar, buy everything else), which is the most crowded trade on the wall street, heck, even our Fed is doing it buy printing money restlessly and giving it to the banks to help pump up the market. I'm bullish on the dollar for the next 3-6 months and expecting everything else (gold, equities, bonds, commodities) to correct itself.</blockquote>


Bondtrader, we saw that happen last March, 2009. The DOW crashed down to 6500, the dollar rallied to 89, and at the same time gold and silver spiked even higher. I am totally in agreement that the dollar will rally in the next 3-6 months, and the foreign currencies (euro and swiss) will decline, but i am not so sure if the same will happen for Gold. It is quite possible that the stock market crashes and the dollar rallies, but gold rallies even higher than the dollar.
 
I don't know Bondtrader.... I would like to see Gold back down to 920 - 960 one last time so i can buy more, but it appears that Gold is headed to $1200 and Silver $25 by year end.
 
[quote author="PANDA" date=1257987769]I don't know Bondtrader.... I would like to see Gold back down to 920 - 960 one last time so i can buy more, but it appears that Gold is headed to $1200 and Silver $25 by year end.</blockquote>


LoL, it feels like I'm debating myself (I just realized that I called Gold 1200 by end of 2009 a while back). Anyways, if S&P did hit 1250 by year end, you will have Gold at 1200 or higher, I just don't see the odds of that being too high, but anything could happen in this market, gotta have an open mind.
 
Bondtrader,

Panda's 8 ball says Gold can potentially correct To $800-$900 USD level from its current $1100 level. We'll have a short-term dollar turnaround which can easily rebound by 10%. This is what i am hoping for and let's hope that we are both right. :)
 
Panda.. finally dumped half of my US equities holdings, today... this is one day where everything was up, Gold, Dollar, Oil, Dow.. very strange... Geithner had to really pump the dollar up a little for the Japanese today...
 
[quote author="roundcorners" date=1258002804]Panda.. finally dumped half of my US equities holdings, today... this is one day where everything was up, Gold, Dollar, Oil, Dow.. very strange... Geithner had to really pump the dollar up a little for the Japanese today...</blockquote>


Hat tip from Panda.. Good timing. It is time for Geithner to jaw bone the falling dollar.
 
[quote author="PANDA" date=1258004043][quote author="roundcorners" date=1258002804]Panda.. finally dumped half of my US equities holdings, today... this is one day where everything was up, Gold, Dollar, Oil, Dow.. very strange... Geithner had to really pump the dollar up a little for the Japanese today...</blockquote>


Hat tip from Panda.. Good timing. It is time for Geithner to jaw bone the falling dollar.</blockquote>






I revisited the gold chart and it is possible that it will go as high as 1280-1300 by year end before it tops off, pure technical (elliott waves). Think of oil blowing off the top in 2008. I have low confidence it will actually get that high, but either way, it will start pulling back soon.
 
[quote author="ukyo116" date=1257478666]A lot of calls on UUP. Trading halted as well....</blockquote>All that sudden call buying requires shares to back them up, something weird happened with this ETF
 
Can someone explain why Pt and Au follow such different trends?



<img src="http://www.kitco.com/LFgif/pt1825nyb.gif" alt="" />



<img src="http://www.kitco.com/LFgif/au1825nyb.gif" alt="" />
 
Gold has a tremendous industrial use; especially when it comes to electronics. I don't quite buy the industrial demand as a major difference with platinum (and noble metals in general). I just can't look at the gold chart without thinking "speculation".
 
You must log in or register to reply here.
Back
Top