(05-18-2010 06:14 PM)Machiavelli Wrote:  I think shorting gold may be a good play here.

Yeah..not so much.

Quote:Speculators are buying gold faster than the world’s biggest producers can mine it as analysts forecast a 27 percent rally that may extend the longest run of annual gains since at least 1920.

Exchange-traded products backed by bullion added 41.7 metric tons in the week to May 14, the most in 14 months, data from UBS AG show. China, Australia and the 15 other largest mining nations averaged weekly output of 41.6 tons last year, researcher GFMS Ltd. estimates. Even though prices have fallen 5.1 percent to $1,185.30 from a record $1,249.40 an ounce May 14, the median in a Bloomberg survey of 23 traders, analysts and investors shows it will reach $1,500 by the end of the year.

Right on cue........................ Niner wrong again. Look at Gold today and let's see where it goes the next 6 months.

CNBC this morning had a big red flashing display that said gold prices were plummeting. I chuckled to myself as I thought about the spin room and my almost Nostradamus abilities. However this link says gold prices are stabilizing as I just checked. I'll revisit this topic this afternoon. It might just be a flight to safety play. Oil is definetely cratering.

http://www.kitco.com/market/

(05-25-2010 06:52 AM)Machiavelli Wrote:  Right on cue........................ Niner wrong again. Look at Gold today and let's see where it goes the next 6 months.

Yeah, cause as we all know, you're much more savvy than the traders, investors and analysts Bloomberg would interivew.

Mach put a short order on gold today and hold it for your 6 month timeframe. Put your money where your mouth is.

I don't short. Too scary........................

(05-18-2010 06:14 PM)Machiavelli Wrote:  I think shorting gold may be a good play here.

(05-25-2010 07:52 AM)Machiavelli Wrote:  I don't short. Too scary........................

Well, knowing that you don't follow the same advice you give to others would seem to be information that someone who might be foolish enough to listen to you would want to know.

(05-25-2010 06:52 AM)Machiavelli Wrote:  Right on cue........................ Niner wrong again. Look at Gold today and let's see where it goes the next 6 months.

The day you said short gold, it dropped. I was impressed.

Since then it's been nothing but up. Recovering much of its decline.

http://www.marketwatch.com/story/gold-fu...teid=yhoof

Make a guess, find one data point to support it, champion it forever. Kinda reminds me of "client science."

All other metals are cratering. Take Beck, Bimbaugh out of the picture and gold would too. It's an irrational bubble stoked on fear. If I had disposable income I could gamble with, I'd short it, but I'm too scared.

(05-26-2010 07:23 PM)Machiavelli Wrote:  It's an irrational bubble stoked on fear.

Kinda like carbon credits.

Silver hasn't cratered. It actually had a huge percentage gain when Au hit its record high.

Your flying right over his head doc. Maybe smack him with a hockey stick?

Gold vs your devalued currency? The Euros have LIVED thru times were they need whee lbarrels of currency for food. nThey have seen major wars on their continent. The bid in GOLD is not for inflation but an overpriced insurance policy on the currency disappearing. The Euros "could" see the euro disappear. That is an outside shot, a LONG shot, but that is a possibility. It is not unusual for governments to change currencies...i.e.....all the dollars,pesos,rubbles you have must be "converted" to the "new" currency.

Here's May Chart. It's down 10% from it's high of the month on the 15th.

http://www.kitco.com/scripts/hist_charts...graphs.plx

(05-27-2010 02:00 PM)Machiavelli Wrote:  Here's May Chart. It's down 10% from it's high of the month on the 15th.

http://www.kitco.com/scripts/hist_charts...graphs.plx

Au?

Today it's above $1210. On May 15 its record high was about $1240. $30/$1240= 2.4%

Silver,

Did u look at the chart?

(05-27-2010 03:59 PM)Machiavelli Wrote:  Silver,

Did u look at the chart?

Ag

Hi $19.60
Today $18.40

$1.20/$19.60= 6.2%

It didn't tank. It fell from a record hi. Then it recovered back to very strong levels.

Anyway, like I said, Ag skyrocketed that day that Au peaked. I think it is based somewhat on fear, but it's also pragmatism. Ag is easier for small transactions than Au.

I bring this post out of the abyss just to say that after going over the jobs numbers out today, the stimulus was a total failure. Wall Street would seem to agree > DOW -323.23 This is all on Obama. The voters will not take to this kindly.

Since the TITLE is KING DOLLAR. You could make 15% here and now. Today the Euro is 1.15 to the dollar. Within 6 months it will be to parity. There is NOOO support for the Euro. Book it Dano.

(06-04-2010 09:40 PM)Machiavelli Wrote:  Since the TITLE is KING DOLLAR. You could make 15% here and now. Today the Euro is 1.15 to the dollar. Within 6 months it will be to parity. There is NOOO support for the Euro. Book it Dano.

Euro to parity in -6- months.... That sounds like economic collapse. More catastrophe for RE and banks. Hoping that it does not happen that fast. Sounds like a decline in world trade.... That would be really bad news for all of us.... The good? IRAN demanded payment in Euros for oil a couple of years ago and now has changed its mind ...After taking it on the chin for being for responding politically to an economic question.

(06-04-2010 09:40 PM)Machiavelli Wrote:  Since the TITLE is KING DOLLAR. You could make 15% here and now. Today the Euro is 1.15 to the dollar. Within 6 months it will be to parity. There is NOOO support for the Euro. Book it Dano.

Or take gold and bank on both of them collapsing. The dollar is getting weaker, not stronger. It just isn't doing it as fast as the Euro.

I still think all commodities get cheaper in the relative future. The dollar will only get stronger from today. Gold has to go in the inverse. Has to.