Interesting how so many people think Soros' recent surging interest in GOLD ETF's is in some way indicative of his concern for his own wealth preservation and worry that other investments are simply too risky.
It is nothing of the sort, its a setup. It is the very same reason why GLD was created in the first place; to serve as a pressure release valve whenever the interest in real gold became too much. Its a mechanism for dumping massive amounts of paper gold into the market in an attempt to supress the gold price.
Soros is simply helping his fiat currency masters. He knows how his recent comments that gold is in a bubble would be interpreted all the while adding to his massive investment in GLD.
This gold runup will end and do not be surprised if Soros fund surprisingly is timed to be selling at that precise moment the peak is formed.
The man's timing has always been impeccable, too impeccable if you ask me. Don't try following the insiders too long, there's a trap laid out for you if you play the paper gold game too long.
I still see gold falling below 1000 and DOW getting crushed far below 10K when it is all said and done, no matter how spectacular this run has been.
Friday, December 24, 2010
Gold and related
1/ Gold and silver move down, (1180 - 24), then spike to new highs (1650 - 55), in late April. Then Rangebound without even profit taking for some unexplained reason till late June. Then set at 6000 - 600 in August - see below.
Copper moves 25% higher on Chinese demands then drops dramatically at years end.
Calls for OPEC increases in supply will fall on deaf ears as the oil producers are buying PM's quietly.
China increase demand 0.5 mil/day.
Oil moves to $120/barrel by mid-summer even after the President opens up the reserves.
Oil drops back to $75 by years end after economy collapses and demand drops also.
{With the resigning of ME Oil contracts with China; WTI, Bakken, Alaskan NS and other US Oil will move to $180/barrel in mid-2011. Full blown depression then.}
2/ Gas and Food prices, (which experienced a 7% increase in 2010), move steadily higher at a 1%/month until July when they move to nearly 2%/month. The CPI lie is exposed, QE2 is fingered and the Bernank is let go in early August. (Timmy G had already resigned.)
Interest rates are increased progressively throughout the year starting in April.
House prices crash on higher mortage rates, ARM resets, and increased foreclosure supply.
3/ Foreign treasury buyers continue to pull out in increasing numbers.
Municipal Bond auctions are reported to be bought by the FED and no one else.
China exits US treasuries and leads the set up of a new reserve currency.
4/EU splits essentially north south in May. Ireland goes it alone right off the batt.
Then in August the Southern EU returns to individual nation status.
5/Fed reacts by increasing Dollar printing.
President Obama signs a Presidential order, (later known as the August surprise as a joke), setting price controls and fixing exchange rates and PM prices.
6/US Depression is now understood as having arrived.
7/CNBC program is cancelled.
Nader is let go.
Chinese led MARS MISSION 2022 is announced.
70% of democratic nations have replaced their leaders by end of 2012.
Copper moves 25% higher on Chinese demands then drops dramatically at years end.
Calls for OPEC increases in supply will fall on deaf ears as the oil producers are buying PM's quietly.
China increase demand 0.5 mil/day.
Oil moves to $120/barrel by mid-summer even after the President opens up the reserves.
Oil drops back to $75 by years end after economy collapses and demand drops also.
{With the resigning of ME Oil contracts with China; WTI, Bakken, Alaskan NS and other US Oil will move to $180/barrel in mid-2011. Full blown depression then.}
2/ Gas and Food prices, (which experienced a 7% increase in 2010), move steadily higher at a 1%/month until July when they move to nearly 2%/month. The CPI lie is exposed, QE2 is fingered and the Bernank is let go in early August. (Timmy G had already resigned.)
Interest rates are increased progressively throughout the year starting in April.
House prices crash on higher mortage rates, ARM resets, and increased foreclosure supply.
3/ Foreign treasury buyers continue to pull out in increasing numbers.
Municipal Bond auctions are reported to be bought by the FED and no one else.
China exits US treasuries and leads the set up of a new reserve currency.
4/EU splits essentially north south in May. Ireland goes it alone right off the batt.
Then in August the Southern EU returns to individual nation status.
5/Fed reacts by increasing Dollar printing.
President Obama signs a Presidential order, (later known as the August surprise as a joke), setting price controls and fixing exchange rates and PM prices.
6/US Depression is now understood as having arrived.
7/CNBC program is cancelled.
Nader is let go.
Chinese led MARS MISSION 2022 is announced.
70% of democratic nations have replaced their leaders by end of 2012.
BuyTheDips
So much for the IMF 304 tonnes gold sale, it was that giant sucking sound.
More likely Chinna just sucked it all up with barely a ripple in the gold market.
Barrick has put a floor in the POG by closing their hedge book.
But what a buying opportunity was created on the spike down early this morning.
This morning was a head fake in the PM's another buying opportunity as it climbs "the wall of worry."
Rince and Repeat
You just gota put da bears on i-g-n-o-r-e
"Ditto" and fade the $925 dipships
Once again just another beautiful buying opportunity
SRS really, really looks cheap
Rinse and Repeat
It appears the flag that is unraveling from the new high will give another buying opportunity at about the 1031 level
and then it is off to races
just pick the best of the breed and hang on for dear life
"The Best Bull Market Ever!"
The Ride of a Life Time
More likely Chinna just sucked it all up with barely a ripple in the gold market.
Barrick has put a floor in the POG by closing their hedge book.
But what a buying opportunity was created on the spike down early this morning.
This morning was a head fake in the PM's another buying opportunity as it climbs "the wall of worry."
Rince and Repeat
You just gota put da bears on i-g-n-o-r-e
"Ditto" and fade the $925 dipships
Once again just another beautiful buying opportunity
SRS really, really looks cheap
Rinse and Repeat
It appears the flag that is unraveling from the new high will give another buying opportunity at about the 1031 level
and then it is off to races
just pick the best of the breed and hang on for dear life
"The Best Bull Market Ever!"
The Ride of a Life Time
Sunday, December 19, 2010
Default Trading Gold
This thread is for those who trade gold/silver based on technical analysis and rational fundamentals. Everyone is welcome, but please keep your posts on topic.
If you believe in conspiracies, cabals, the imminent collapse of the US economy, etc. that is fine. There are plenty of threads available. Likewise, if you are a buy and hold investor, gold bug, perma-bear, or troll - there are plenty of threads for you too.
I would like to start with a discussion of our approaches to trading this market. I'll start.
I am by no means a big league trader. My goal is extract between $500-$1000 per week from this market. It is not how I make my living, rather, it is a hobby that helps to pay for other indulgences. My long term investments are in realestate and several businesses that I own.
My basic strategy is to buy at resistance and sell at support. I typically trade around a core position if I feel there is an intermediate term trend. Otherwise, I close positions often.
Right now I only trade futures. Specifically, Full Size Gold/Silver for core positions and minis for day/swing trading.
It is my hope that there are other "traders" on this forum who will join this thread for the purposes of sharing their thoughts, strategies, indicators etc.
My only motivation is to improve my skills. If you share this motivation I look forward to your posts.
If you believe in conspiracies, cabals, the imminent collapse of the US economy, etc. that is fine. There are plenty of threads available. Likewise, if you are a buy and hold investor, gold bug, perma-bear, or troll - there are plenty of threads for you too.
I would like to start with a discussion of our approaches to trading this market. I'll start.
I am by no means a big league trader. My goal is extract between $500-$1000 per week from this market. It is not how I make my living, rather, it is a hobby that helps to pay for other indulgences. My long term investments are in realestate and several businesses that I own.
My basic strategy is to buy at resistance and sell at support. I typically trade around a core position if I feel there is an intermediate term trend. Otherwise, I close positions often.
Right now I only trade futures. Specifically, Full Size Gold/Silver for core positions and minis for day/swing trading.
It is my hope that there are other "traders" on this forum who will join this thread for the purposes of sharing their thoughts, strategies, indicators etc.
My only motivation is to improve my skills. If you share this motivation I look forward to your posts.
Gold Holders... Get the Best of Both Worlds!
"Grandpa, how'd you get so rich?"
"Well son, intially I had invested in gold, but I noticed a drove of people holding silver wanting to exchange at 60 for gold, then 50, then 45, then 40, and 35 and so on down to 15"
"Grandpa, why would so many silvers holders exchange for gold?"
"...because they weren't very bright...so most of us gold holders acquired all their potential wealth too"
Sorry..can't stand the silver forum right now...getting breath of fresh air over here in gold forum. I'm going to start buying gold to spite their potential wealth and lack of knowledge thereof.
"Well son, intially I had invested in gold, but I noticed a drove of people holding silver wanting to exchange at 60 for gold, then 50, then 45, then 40, and 35 and so on down to 15"
"Grandpa, why would so many silvers holders exchange for gold?"
"...because they weren't very bright...so most of us gold holders acquired all their potential wealth too"
Sorry..can't stand the silver forum right now...getting breath of fresh air over here in gold forum. I'm going to start buying gold to spite their potential wealth and lack of knowledge thereof.
An hour with Jim Rickards and the once and future money
ear Friend of GATA and Gold:
Market intelligence analyst James G. Rickards of research firm Omnis Inc. made a long presentation to the "Rethinking the Future International Security Environment" conference held Dec. 7 in Washington by the Applied Physics Laboratory of Johns Hopkins University. The second half of Rickards' presentation elaborated on his recent incisive observations about gold, as expressed at King World News and elsewhere.
Rickards told the Johns Hopkins conference that he considers gold to be the secret economic weapon of the U.S. government, and he noted that devaluing currencies against gold in times of economic distress has been done frequently throughout history.
He said he expects the United States to avert the dollar's collapse by returning it to a gold standard or even to avert the collapse of currencies worldwide by sponsoring a new gold-backed international currency, with gold revalued to perhaps $4,000 per ounce under either scenario. During the question period at the end of his presentation Rickards asserted that the paper gold markets in New York and London have sold claims to far more gold than the sellers possess or likely can obtain and that those markets will crash and resort to cash settlement if enough buyers ever try to take delivery. Of course that has been one of GATA's main arguments lately.
Link to above...
http://news.goldseek.com/GATA/1292595937.php
Link to hour video of Rickards...
http://outerdnn.outer.jhuapl.edu/ret...tionVideo.aspx
Market intelligence analyst James G. Rickards of research firm Omnis Inc. made a long presentation to the "Rethinking the Future International Security Environment" conference held Dec. 7 in Washington by the Applied Physics Laboratory of Johns Hopkins University. The second half of Rickards' presentation elaborated on his recent incisive observations about gold, as expressed at King World News and elsewhere.
Rickards told the Johns Hopkins conference that he considers gold to be the secret economic weapon of the U.S. government, and he noted that devaluing currencies against gold in times of economic distress has been done frequently throughout history.
He said he expects the United States to avert the dollar's collapse by returning it to a gold standard or even to avert the collapse of currencies worldwide by sponsoring a new gold-backed international currency, with gold revalued to perhaps $4,000 per ounce under either scenario. During the question period at the end of his presentation Rickards asserted that the paper gold markets in New York and London have sold claims to far more gold than the sellers possess or likely can obtain and that those markets will crash and resort to cash settlement if enough buyers ever try to take delivery. Of course that has been one of GATA's main arguments lately.
Link to above...
http://news.goldseek.com/GATA/1292595937.php
Link to hour video of Rickards...
http://outerdnn.outer.jhuapl.edu/ret...tionVideo.aspx
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