sell2rent Posted June 5, 2008 Share Posted June 5, 2008 Not sure about a major recovery, but a few long spreadbets this afternoon have done well Quote Link to comment Share on other sites More sharing options...
roman holiday Posted June 5, 2008 Share Posted June 5, 2008 (edited) will continue buying physical each month.... reckon it will go sideways for the summer.... then spike on some poor economic news.. still won't be selling until the herd panic buys Edited June 5, 2008 by roman holiday Quote Link to comment Share on other sites More sharing options...
electrolil Posted June 5, 2008 Share Posted June 5, 2008 (edited) sell2rent your right, perhaps wishful thinking and rsi looked like the botom was in at 864 Edited June 5, 2008 by electrolil Quote Link to comment Share on other sites More sharing options...
sell2rent Posted June 5, 2008 Share Posted June 5, 2008 (edited) I'm only saying I don't think it is a major recovery because I sold out too early and wouldn't mind another dip so I can hit it again I got in at 865. Edited June 5, 2008 by sell2rent Quote Link to comment Share on other sites More sharing options...
thod Posted June 5, 2008 Share Posted June 5, 2008 I dont worry too much about buying on the dip, I am not a day trader so feed in gradually accumulating reserves. The strategy is simple. I believe that there will further bad news in the financial system, that bear sterns was not the last. When this occurs the price will shoot up. When the little man is moving his savings fearing losing his savings in another northern rock type episode is the time to sell. Fear is the best news there is for gold. Even if it doesn't occur, I still have a store of value which I believe will outperform GBP. Quote Link to comment Share on other sites More sharing options...
R K Posted June 5, 2008 Share Posted June 5, 2008 Gold begins major recovery Based on what? Dollar having a bad day after the ECB talk tough on inflation? Looks more like a sucker bounce to me. 970 would be a major recovery. Quote Link to comment Share on other sites More sharing options...
cynic Posted June 5, 2008 Share Posted June 5, 2008 Gold begins major recovery 100% correct, guaranteed?? Quote Link to comment Share on other sites More sharing options...
R K Posted June 5, 2008 Share Posted June 5, 2008 WTI crude up $6 to $128. No speculation there then! - Trichet just happens to mention the possibility of maybe, perhaps a small rise in rates, next month and they all pile in. http://www.bloomberg.com/apps/news?pid=206...&refer=home Quote Link to comment Share on other sites More sharing options...
narco Posted June 5, 2008 Share Posted June 5, 2008 WTI crude up $6 to $128.No speculation there then! - Trichet just happens to mention the possibility of maybe, perhaps a small rise in rates, next month and they all pile in. http://www.bloomberg.com/apps/news?pid=206...&refer=home It's quite scary to see what actually moves these markets. This action is purely a product of ccompeting free falling fiat currencies. Oil could seriously chase back new highs again! Quote Link to comment Share on other sites More sharing options...
R K Posted June 5, 2008 Share Posted June 5, 2008 It's quite scary to see what actually moves these markets. This action is purely a product of ccompeting free falling fiat currencies. Oil could seriously chase back new highs again! Amazing isn't it. Strange thing is gold didn't really follow. I guess there could be some traders waking up tomorrow and realising that neither the FED nor the ECB have actually done anything and we could be back where we were. Interesting times. Quote Link to comment Share on other sites More sharing options...
narco Posted June 5, 2008 Share Posted June 5, 2008 Amazing isn't it. Strange thing is gold didn't really follow. I guess there could be some traders waking up tomorrow and realising that neither the FED nor the ECB have actually done anything and we could be back where we were. Interesting times. I don't think we'll see any serious action in gold until the USDX drops below 71 or a major financial institution goes belly up. My guess is that this will probably occur at the same time and could now happen at anytime. Quote Link to comment Share on other sites More sharing options...
electrolil Posted June 5, 2008 Share Posted June 5, 2008 an outstanding buying opportunity So if you are planning on strolling down to the station in August to find the train waiting for you, you may find that it left long ago without you. Quote Link to comment Share on other sites More sharing options...
Dispassion Posted June 5, 2008 Share Posted June 5, 2008 Check out that oil +4.6% in 3 and half hours. Quote Link to comment Share on other sites More sharing options...
carseller Posted June 5, 2008 Share Posted June 5, 2008 Amazing isn't it. Strange thing is gold didn't really follow. I guess there could be some traders waking up tomorrow and realising that neither the FED nor the ECB have actually done anything and we could be back where we were. Interesting times. I think oil are weakened. The bubble still lives on, and Bernanke with his weak dollar make sure of it. Back in 1980, the dollar was at around the same level, and oil and gold was at around todays level. had there been supply difficulties ontop of all this, oil would had been much higher. All he have do is to do the walk not just talk the talk. But I think the FED actually embrace the inflation. However they know they were to loose in the seventies. They want the middle road. Whatever that might be. http://articles.moneycentral.msn.com/Inves...sInflation.aspx Quote Link to comment Share on other sites More sharing options...
roman holiday Posted June 6, 2008 Share Posted June 6, 2008 (edited) an outstanding buying opportunitySo if you are planning on strolling down to the station in August to find the train waiting for you, you may find that it left long ago without you. Yep Good damn... payday can not come quick enough was hoping for summer goldrums but not so sure. Edited June 6, 2008 by roman holiday Quote Link to comment Share on other sites More sharing options...
roman holiday Posted June 6, 2008 Share Posted June 6, 2008 (edited) I think oil are weakened. The bubble still lives on, and Bernanke with his weak dollar make sure of it. Back in 1980, the dollar was at around the same level, and oil and gold was at around todays level. had there been supply difficulties ontop of all this, oil would had been much higher.All he have do is to do the walk not just talk the talk. But I think the FED actually embrace the inflation. However they know they were to loose in the seventies. They want the middle road. Whatever that might be. http://articles.moneycentral.msn.com/Inves...sInflation.aspx Bubbles? The moronic media sees bubbles everywhere. Good article here examining what the word means and when to know you are in one. http://news.silverseek.com/TedButler/1212510161.php As regards the media, I guess we all got to choose our own poison. I am hoping my CNBC viewing, taken in small doses, will provide an innoculative effect. Edited June 6, 2008 by roman holiday Quote Link to comment Share on other sites More sharing options...
R K Posted June 6, 2008 Share Posted June 6, 2008 Daily chart in Euros:- RSI falling and under 50, but not oversold MACD turning down Stochastics still falling Still in the downtrend? Quote Link to comment Share on other sites More sharing options...
carseller Posted June 6, 2008 Share Posted June 6, 2008 Bubbles? The moronic media sees bubbles everywhere. Good article here examining what the word means and when to know you are in one. http://news.silverseek.com/TedButler/1212510161.php As regards the media, I guess we all got to choose our own poison. I am hoping my CNBC viewing, taken in small doses, will provide an innoculative effect. Bubble, dollar hedge, call it what you want to, you are right it's a fad, but so are the low interest rates to. Maybe it's wrong to use the bubble word when prices disconnect from fundamentals with less than 100 %, maybe bubble should be reserved for things overvalued 10 times and the like and then come down 90 %, but let's fall it overvaluation then. Quote Link to comment Share on other sites More sharing options...
R K Posted June 6, 2008 Share Posted June 6, 2008 ***** ****** !!! $137 from $122 yesterday. 12%. I may be missing something but this looks like gaming by one or two big players. Moves like this are totally insane. I reckon oil is now the weapon of choice as hedge against everything else. The DOW is now only 100 points or so from a serious sell off. The IBs are definately out to break both Bernanke and Trichet imho. What is BB going to do when the big sell off comes? Raise rates? They've nailed their colours to the mast and they're now about to be tested to the hilt. Quote Link to comment Share on other sites More sharing options...
roman holiday Posted June 6, 2008 Share Posted June 6, 2008 (edited) The story now is Iran and sabre rattling. How pathetic,... it as just another episode in the dollars decline. Makes you wonder how quick it might come. DOW is looking shaky, if their was a panic....... I think Bernanke made a mistake by coming out and talking directly about the dollar... something he never does. Yep... reckon the FED will have to raise rates... and if so looks like deflation and deep depression for all... into the frying pan Edited June 6, 2008 by roman holiday Quote Link to comment Share on other sites More sharing options...
Dispassion Posted June 6, 2008 Share Posted June 6, 2008 (edited) Wow! Oil - 13% in 29 hours, on the back of US job figures and predicable rate setting? That doesn't add up to me. I'm not sure there's been such a big up move in a market of this size. We live in interesting times. I'd love to know what's really happened here, the news that backs this doesn't seem to be publically available, yet. Edited June 6, 2008 by CraigI Quote Link to comment Share on other sites More sharing options...
electrolil Posted June 6, 2008 Share Posted June 6, 2008 www.youtube.com/JiveDadson Quote Link to comment Share on other sites More sharing options...
R K Posted June 6, 2008 Share Posted June 6, 2008 I agree with all the posts. Not like me at all. Something is clearly going on. I wonder if someone has got wind of an imminent action against Iran then. Euro has taken USD to the cleaners but its not even reclaimed 1.58, let alone 1.60. USD hasn't sold off that strongly to merit such a move in oil. We're either going to see a very rapid reversal and alot of longs with red faces and open mouths or Iran under a pile of rubble imo. Ben should have kept his mouth shut as well. Huge mistake I agree. Quote Link to comment Share on other sites More sharing options...
Dispassion Posted June 6, 2008 Share Posted June 6, 2008 I agree with all the posts. Not like me at all. Something is clearly going on. I wonder if someone has got wind of an imminent action against Iran then. Euro has taken USD to the cleaners but its not even reclaimed 1.58, let alone 1.60. USD hasn't sold off that strongly to merit such a move in oil. We're either going to see a very rapid reversal and alot of longs with red faces and open mouths or Iran under a pile of rubble imo. Ben should have kept his mouth shut as well. Huge mistake I agree. Could be, a few days before the WTC collapse, there was insider trading. Perhaps that's what we're seeing now. It's been clear that the commodity markets are running on speculation and most of us have been expecting the recent correction to end, but I still can't see that there's public news to justify this up move. Quote Link to comment Share on other sites More sharing options...
electrolil Posted June 6, 2008 Share Posted June 6, 2008 (edited) duplicated Edited June 7, 2008 by electrolil Quote Link to comment Share on other sites More sharing options...
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