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House Price Crash Forum


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About spoon

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  1. $690 is nailed on, and $640 the next target after that. we are witnessing MAMMOTH destruction of wealth and asset price deflation in everything from commodities to aston martins.
  2. LIBOR being set artificially low is OLD news. Everyone knows it's been far too low for months now. The NEWS today is the threat of a BAN on banks from the panel chosen to set libor. Will libor rates shoot higher tomorrow? Yes but perhaps not as far as some think. Is losing your status on the BBA panel of contributing banks such a bad thing in the current climate? As a bank i wouldn't want to be under the scrutiny.
  3. Make sure you are able to set fresh longs at $775.
  4. This post is vomit-inducing. Stop regurgitating gold-bug tedium. Posting a list 'reasons' or worse still, weblinks, stating why gold is going to the moon is tiresome - we all know what they are and it's why we are here and not at $400.
  5. First, many do in fact get carried away by hysteria. Many will have decided to bite the bullet and set new longs at $1000. If you view gold as an option in your ASSET ALLOCATION strategy you're going to be ok. If you're TRADING gold, like I do, a $200 move can SHUT YOU DOWN.
  6. the message here is to imagine a price of $850 or $800. how does that make you feel? is that going to wipe you out? if so sell now...if not, do nothing.
  7. 1) Deleveraging will continue full steam ahead. That means some of the largest spec positions in gold being liquidated. 2) Lots of market participants have used this latest drop to reload including spec players and gold mining companies - not good. 3) Gold has recently shown a distinct inability to mount a rally without the support of equities, crude oil, or a falling dollar. 4) ALL asset valuations depend on two things - economic growth expectations and interest rates to discount that growth. both are heading the wrong way. the first lower, and the second higher. 5) gold is a tiny market. traffic is one way and liquidity often disappears completely. think what your downside is and take off $50. 6) the supply story in commodities is going to give way to a weakening demand story - decoupling of India and China is a myth. that's plenty for now.
  8. we're heading towards $850 and perhaps lower. i'm a long standing precious metal bull and stick to that long term view. we will see new all time highs. but before that get ready for $850 or lower. there's a lot of bullish mania here surrounding gold and you need to know the risks currently point to a LARGE DROP bigger than most here would care to entertain.
  9. i see the thread opener has irked a few folk. shares are routinely suspended in response to large and rapid price moves to guard against system glitches. and by the way i have no idea even now if the shares were suspended. i don't care actually and neither should anyone. fact is at one point the price was down sharply and my proximity to the markets allowed me to bring that news / rumour / perception to you way before sky news or any other news channel was running with it. markets don't respond to hard facts alone.
  10. ok so any objections to Northern Rock ? gilt edged 6% savings rates seem too good to be true.
  12. couldn't resist and anyway it's m thread - gold follows like clockwork....$1015 !
  13. The point is with all the focus on Bear Stearns and Fed action sending the dollar lower, the dollar is actually APPRECIATING versus the pound meaning something nasty is afoot on our own shores.
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