wren Posted March 20, 2008 Share Posted March 20, 2008 The secular market understands the facts and figures. It sold off 10% and 20% in 2 days for a reason. But it certainly makes more sense buying at today's prices than it did at $1000 and $21 which people were doing last week. In a few years time you'll be able to buy the DOW for 2 ounces of gold or less. An average UK house will cost 120 ounces of gold or less. Daily, weekly and even monthly fluctuations are irrelevant to the long term revaluation process. Some perceptive and patient individuals will gain very much. Quote Link to comment Share on other sites More sharing options...
Guest Bart of Darkness Posted March 20, 2008 Share Posted March 20, 2008 Hi Sossij. I double up on shorts and x3 on longs. I'm at $1450glod. So am content with my glod position thanks. Expecting a strong bounce though so have tightened stops. I'll take this profit. You are DrBubb's long lost son and I claim my £5. Sigh... I give up I really do Explaining this to RB does that to people. Personally I'm waiting for a Trek style replicator to produce all the gold I need. I think Kitco is as well, I can never seem to get a response in the last few days. This seems to happen during busy times (up as well as down) Say, wouldn't it be more appropriate for this thread to be in the Precious Metals forum?Lately, gold threads seem to have been moved to the PM forum within minutes, whereas, for some reason, this one's been overlooked... Fair point. No it can't. Have you any idea how much such an accelerator would cost! (not just to build, but also the ridiculous amounts of energy required to use it). Artificially generated gold at $20,000 an ounce vs. mined gold at $1,000 an ounce. Hmmmm.... tough call. Well.........if you lot don't like gold.........why don't you go and stick some cash in HBOS shares. Quote Link to comment Share on other sites More sharing options...
kilroy Posted March 20, 2008 Share Posted March 20, 2008 I have bookmarked this specific post. Gold is at 916, Silver is at 17.40 I am buying. I will refer back to this thread in due course. Maybe some idiots on here need to see hard figures and facts and understand the dynamics of markets or understand the term secular, maybe look around them and understand the forces and actions of govenments/banks and their wish to save themselves, their currencies, their lifestyles, their preservation at the expense of their own people. Maybe once in a while they need to pick up a media report or two that isn't meant for apathetic spoon fed morons. I am not going to bother explaining to what's left on this site right now why I am buying gold or will continue to at any sign of any correction, the reason to explain myself died with the most popular thread on here and it's most prolific postsers. I will be back.. hard figures and facts are 13 week t-bill yield hit 20bps today. Liquidity trap and depression surely to follow. CBs are impotent in teh face of this Quote Link to comment Share on other sites More sharing options...
sell2rent Posted March 20, 2008 Share Posted March 20, 2008 (edited) I have PHAG ETF and it has obviously taken quite a hammering, but I only have about £22k in it. I have been reluctant to add to my gold position with all the recent hype. However, I did buy at 938, 920 and 910 since last night and then sold at 924 for a £300 profit. However, I was nervous doing so and didn't enjoy the experience this time - at times I was down over £800. I think I'll hold the ETF for now as that was bought at about 870. I thought the signal to sell gold might be when I was getting a proper real return on my savings accounts which hold the majority of the sell to rent fund. That hasn't happened yet. I am waiting for the next index linked certificates to be issued, that might save me from risking too much on vulnerable commodities. Edited March 20, 2008 by sell2rent Quote Link to comment Share on other sites More sharing options...
Guest Bart of Darkness Posted March 20, 2008 Share Posted March 20, 2008 No Bart, $20,000 per atom. RB's "plan" is almost too ridiculous to measure. Ouch!! Not even the most ardent goldbug would expect gold to reach infinity Trillion dollars an ounce. Sorry RB, but ye canna change the laws of physics. Quote Link to comment Share on other sites More sharing options...
headmelter Posted March 20, 2008 Share Posted March 20, 2008 How did I get to the thread about nuclear physics. Quote Link to comment Share on other sites More sharing options...
piece of paper Posted March 20, 2008 Share Posted March 20, 2008 How did I get to the thread about nuclear physics. I was on a thread recently that the Mods moved whilst I was reading it. I emerged on a different part of the site. My only comfort was that their omnipotence is limited to HPC. p-o-p Quote Link to comment Share on other sites More sharing options...
Guest Bart of Darkness Posted March 20, 2008 Share Posted March 20, 2008 Yes. I dread to mention this in front of RB, but there are some realistic ways to extract massive amounts of gold from seawater and asteroids using mature nanotechnology - I'd heard of asteroids with lots of gold in them, which as you say, could be exploited using nanotechnology, but I'd not heard of getting gold from seawater before. Quote Link to comment Share on other sites More sharing options...
Ologhai Jones Posted March 20, 2008 Share Posted March 20, 2008 I'd heard of asteroids with lots of gold in them, which as you say, could be exploited using nanotechnology, but I'd not heard of getting gold from seawater before. It's true! Apparently, you can also get fish from seawater. Sound crazy, but there it is. Quote Link to comment Share on other sites More sharing options...
domo Posted March 20, 2008 Share Posted March 20, 2008 Mods, move this thread to the quantum physics subforum please. Quote Link to comment Share on other sites More sharing options...
Guest Bart of Darkness Posted March 20, 2008 Share Posted March 20, 2008 It's true!Apparently, you can also get fish from seawater. Sound crazy, but there it is. Goldfish? (I'll get me coat.) Quote Link to comment Share on other sites More sharing options...
headmelter Posted March 20, 2008 Share Posted March 20, 2008 Your user name guided you. My two favourite physics lessons.... http://www.youtube.com/watch?v=qsPb8e7USqI...feature=related http://www.youtube.com/watch?v=dToNQD-Aqsg...feature=related Quote Link to comment Share on other sites More sharing options...
agb41 Posted March 20, 2008 Share Posted March 20, 2008 (edited) Another thing I dread to mention. It is possible to simulate electron shells using quantum dots, to make simulated gold (or anything else) for industrial uses. But it wouldn't be a simulation that would fool anything other than another atom, so simulated gold couldn't be used as money. (It would need to be powered all the time, for example. It would also be the wrong weight.) See Hacking Matter (link) for details. Totally untrue. While you can certainly make 10s of nanometre sized quantum dot, it is totally impossible to simulate individual Gold atoms which are of a size the order 1/10 nanometer, simply because that is the size of the building blocks that make quantum dots (atomic size). Whatever made would not "need to be powered" to have such characteristics anyway. Quantum dots are damned useful, but it's like saying a rectangular house made out of cubic bricks can be used like a rectangular brick - yes, but on a totally, totally different scale. Edited March 20, 2008 by agb41 Quote Link to comment Share on other sites More sharing options...
carseller Posted March 20, 2008 Share Posted March 20, 2008 I moved half of my gold earlier today and now I moved half of it over to the DUG ETF, ultrashort oil and gas , well, I hope that is a lucky shot http://www.proshares.com/funds/dug.html?Cu...Quote+and+Chart I am planning to move the other half over to http://www.proshares.com/funds/skf.html?Cu...e%20and%20Chart Utrashort financial , but I think it will move down to around 100, before there is a good buying opportunity, it is good to buy now, but I think these financial stocks could rally some more first. It could be good now, but it usually take some time after the rate cuts, for the trouble to become overwhelming again. So therefore tomorrow or Monday could be a great day to buy it. Quote Link to comment Share on other sites More sharing options...
right_freds_dead Posted March 20, 2008 Share Posted March 20, 2008 i moved my gold too. i took it out. spread it on the duvet and admired it for a while. then i moved it back in the safe. (knowingly). next stop $19000 per oz.... Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted March 20, 2008 Share Posted March 20, 2008 I do sincerely hope those who tried to totally ridicule me when I said we would see $850 before we see $1050, when it was rising to $1000, eat their words. Quote Link to comment Share on other sites More sharing options...
right_freds_dead Posted March 20, 2008 Share Posted March 20, 2008 why didnt you tell me that on monday ? Quote Link to comment Share on other sites More sharing options...
foft Posted March 20, 2008 Share Posted March 20, 2008 I know Gold is volatile, but it surprised me how straight the fall was - managed to take almost 80-90% of the fall thinking we'd get some rebounds (I bought at 1005, 969, 920...) -> almost 50% trading capital gone (I missed 927->1020 - got back in at 1005...!). For anyone thinking of trying CFDs just a reminder to take care... Also doesn't appear to be related to any market event that I'm aware of - other than being overbought and the FED splitting the cut into two days? What kind of cut were people expecting? 2%?? I'm just hoping the house I want to buy is falling faster than my crap investment abilities! I'm allegedly smart, but sometimes I wonder if I really am... Feeling pretty stupid at the moment. Quote Link to comment Share on other sites More sharing options...
Errol Posted March 20, 2008 Share Posted March 20, 2008 I do sincerely hope those who tried to totally ridicule me when I said we would see $850 before we see $1050, when it was rising to $1000, eat their words. Why would anyone have ridiculed you? Sounds perfectly reasonable to me. No market goes up in a straight line and gold's meteoric rise was has been unnerving for months (and I'm a huge goldbug). Quote Link to comment Share on other sites More sharing options...
R K Posted March 20, 2008 Share Posted March 20, 2008 (edited) I know Gold is volatile, but it surprised me how straight the fall was - managed to take almost 80-90% of the fall thinking we'd get some rebounds (I bought at 1005, 969, 920...) -> almost 50% trading capital gone (I missed 927->1020 - got back in at 1005...!). For anyone thinking of trying CFDs just a reminder to take care... Also doesn't appear to be related to any market event that I'm aware of - other than being overbought and the FED splitting the cut into two days? What kind of cut were people expecting? 2%??I'm just hoping the house I want to buy is falling faster than my crap investment abilities! I'm allegedly smart, but sometimes I wonder if I really am... Feeling pretty stupid at the moment. I'm sorry to hear you have lost money. If I may suggest some areas to consider? You appear to be over-leveraged with either no stops or they're too far away for your level of risk. Movements of that size are always possible in both directions so you need to either use stops or opposing purchases to peg any loss. The market was also very overbought as you say. Not just glod but Euro was stretched v USD and ECB members had spelled this out over the last two weeks. Ditto yen. The rise has been mostly on air so was aching to correct. (others will argue it has been fundamentals - they're wrong). The moral is I think to exercise extreme caution buying into very overbought rallies. There are always better opportunities. Edited March 20, 2008 by Red Kharma Quote Link to comment Share on other sites More sharing options...
oracle Posted March 20, 2008 Share Posted March 20, 2008 I do sincerely hope those who tried to totally ridicule me when I said we would see $850 before we see $1050, when it was rising to $1000, eat their words. good short term call FP,but we ain't done yet. This is a classic bear trap. the last year we have gone from $640 to $1030....390 bucks up. 61.8% fib retracement would give back to $880 ish.Perfectly healthy.$850 is going to be MEGA support. Worst case we get a flush-out to $845 and then BOOOOOOOOOM,maybe even within a couple of weeks. but we are also in EW iv...that means we could get the big bang up to $1200+ by early summer if elliott wave v does what it should....I'd be tempted to book some profits there. Quote Link to comment Share on other sites More sharing options...
uro_who Posted March 21, 2008 Share Posted March 21, 2008 good short term call FP,but we ain't done yet.This is a classic bear trap. the last year we have gone from $640 to $1030....390 bucks up. 61.8% fib retracement would give back to $880 ish.Perfectly healthy.$850 is going to be MEGA support. Worst case we get a flush-out to $845 and then BOOOOOOOOOM,maybe even within a couple of weeks. but we are also in EW iv...that means we could get the big bang up to $1200+ by early summer if elliott wave v does what it should....I'd be tempted to book some profits there. I bought at $750 & $800. Thought about selling 66% of holdings at 1030 but daily charts and weekly weren't as overbought as in the past. I thought I'd wait for the US interest rate decision to bring out a few more dollars and bang! Still got out with a healthy profit. Way above the 30% of a trend that represents a good trade. I also agree on the supports on the way down. I have 887 and several more minor and half of the planet are thinking of $850. If it drops significantly below $900 then I thnik we'll see $850. As for the fundementals, some return of dollar weakness this pm. Economic indicators from the US were terrible today and will worsen. If these are matched with falling dollar and increasing US CPI then I think there's still plenty of room for $1050 and $1200 and $1500. But there's nothing on the charts to indicate that the climb back up again will be Tuesday. Currently therefore making some money on shorting, with stops set better than break-even. To the OP never spreadbet or CFD without stops. THe commonest schooby error is to place a position with the expectation of making 5 clicks, deciding that all you need to do is make it £50 per tick and a new ferrari will be yours. Then set the stops lovely and low so that you don't succumb to market noise. Sit back and watch yourself £5000 down by tea time. Only trade with an expectation of a decent move, set your stops tight as you dare (better to be stopped out and re-entera couple of times than lose a huge chunk in one go that makes you so depressed you can't face taking a new position, only to watch your prediction come true). And move your stops to a no loss position ASAP. Then keep moving the stops up as you go. Ok I know, its the classical try to win more than you lose. Sorry if I'm teaching my grandmother to suck eggs. Just relate to your story because I've done it myself. As for not related to a market event. The market event was 70% of gold traders thinking the same as me but being quicker on the sell button and workng out that the collapse was so huge that having a sixth sense that the bottom of the channel at $950 (which has been in place since October) wasn't going to hold. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted March 21, 2008 Share Posted March 21, 2008 Reminds me of all the people at Cisco who bought shares when they fell from 102 bucks to 90, then to 80, then to 70, 60, 50, 40. At which point people I know began taking out loans and remortgaging their homes to buy in the 30s and 20s. Shares went down to about 10 bucks eventually. They were convinced the shares would not only go back up to 102 but would go even higher forever onwards and upwards. Have they? Quote Link to comment Share on other sites More sharing options...
Guest muttley Posted March 21, 2008 Share Posted March 21, 2008 Oh dear. It turns out that gold is just another investment, and not a winning lottery ticket after all. Quote Link to comment Share on other sites More sharing options...
bob monkhouse Posted March 21, 2008 Share Posted March 21, 2008 why didnt you tell me that on monday ? Did you whack it on your visa Gold card? [applause] Thanks, folks, im here all week. Quote Link to comment Share on other sites More sharing options...
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