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Nice chart. So gold mining stocks have been in a 5 year bear market relative to the price of gold. As I see it there's more potential for a bigger percentage move in gold mining stocks than physical/ETF's.

Agree. very interesting

huitogoldratio11yearcha.png

 

But the fractal is not done yet. There's still one more small leg down to complete the old pattern

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gglllaaa.gif

 

 

So far the price action in gold looks remarkably similiar to what was seen in early 2008. Following that precedent, gold should bounce of 1080 odd here, go up to 1180 odd, before turning back down to revisit triple digit prices. This might also co-incide with a general sell-off in the markets [a few months out]. The big price rise in gold would then follow in the latter part of the year on a new spike.

 

Strong dollar today: 80.70

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It's quite difficult to know what to do. There is a lot of bearish reports on gold. The new high, as I see it is off the back of China being accused of hoarding (and not) and predominantly Greece falling out of the euro. The chinese released a statement saying that they are not hoarding and the french are offering support for greece. On top of that I have been reading about a European monetary fund which will presumably be there to support situations such as that that Greece is going through. So I think that Gold has momentary high here. So I will sell 60% of what I have and buy back in at lower support level.

 

Hopefully this goes well :)

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It's quite difficult to know what to do. There is a lot of bearish reports on gold. The new high, as I see it is off the back of China being accused of hoarding (and not) and predominantly Greece falling out of the euro. The chinese released a statement saying that they are not hoarding and the french are offering support for greece. On top of that I have been reading about a European monetary fund which will presumably be there to support situations such as that that Greece is going through. So I think that Gold has momentary high here. So I will sell 60% of what I have and buy back in at lower support level.

 

Hopefully this goes well :)

are you sure

 

where will the money come from

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are you sure

 

where will the money come from

 

I'm hoping to buy back in and make more money when they realise that there isn't any more money :) I just need the heads of states to keep talking positively long enough for gold to drop about 10% then I'll buy back in.

 

No, I am not sure. I actually don't know what I am doing at all. I am just trying to go with my gut for once. I still have some money in, so if I'm wrong I still make a little more.

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I'm hoping to buy back in and make more money when they realise that there isn't any more money :) I just need the heads of states to keep talking positively long enough for gold to drop about 10% then I'll buy back in.

 

No, I am not sure. I actually don't know what I am doing at all. I am just trying to go with my gut for once. I still have some money in, so if I'm wrong I still make a little more.

 

Since goldfinger isn't around just now (sob) I must reiterate his sage advice....

 

DON'T TRADE GOLD!

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gglllaaa.gif

 

 

So far the price action in gold looks remarkably similiar to what was seen in early 2008. Following that precedent, gold should bounce of 1080 odd here, go up to 1180 odd, before turning back down to revisit triple digit prices. This might also co-incide with a general sell-off in the markets [a few months out]. The big price rise in gold would then follow in the latter part of the year on a new spike.

 

Strong dollar today: 80.70

 

Hard to agree with you when I look at the 5 or 10yr charts....

 

Its looks parabolic to me.

 

 

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Hard to agree with you when I look at the 5 or 10yr charts....

 

Its looks parabolic to me.

Well, I expect the next five year chart will look parabolic also in a long term context... which is why I don't trade gold [silver is better]. The idea being to have a good core position but keep reserves for dips.

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Since goldfinger isn't around just now (sob) I must reiterate his sage advice....

 

DON'T TRADE GOLD!

 

It's probably true. In fact me selling should be a big buy indicater for everyone else :)

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I miss the way the Gold thread used to be. I just noticed a bit of a smackdown, and my first thought was to come here and enjoy some of the smackdown-related banter...

 

*watches tumbleweed roll by* :(

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I miss the way the Gold thread used to be. I just noticed a bit of a smackdown, and my first thought was to come here and enjoy some of the smackdown-related banter...

 

*watches tumbleweed roll by* :(

 

 

Me too - many good posters have found new homes after being hounded out...

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A faith-rattling dive from 16.00 hrs gmt.

 

Ahh, but it is Wednesday

 

and a few forgotten trillion aside it's all been good news.

 

Conclusion? - Cool social engineering is working well. What else matters?

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A faith-rattling dive from 16.00 hrs gmt.

 

Ahh, but it is Wednesday

 

and a few forgotten trillion aside it's all been good news.

 

Conclusion? - Cool social engineering is working well. What else matters?

 

You are so enigmatic - waving your rolling-pin around...suggestively! As far as I can see, the ups and downs of paper trading are really becoming irrelevant if you think the system is broken and cannot be repaired - only 'reset' then it seems that:

 

Get a stash

Hide the stash

Go fishing

 

Seems the way to go.

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You are so enigmatic - waving your rolling-pin around...suggestively! As far as I can see, the ups and downs of paper trading are really becoming irrelevant if you think the system is broken and cannot be repaired - only 'reset' then it seems that:

 

Get a stash

Hide the stash

Go fishing

 

Seems the way to go.

But don't use the ounce coins as sinkers. You might lose them if you get a big bite!

Then again, that's as good a reason as any to explain to TPTB why you don't have any of that metal you bought...... :D

 

sorry, went fishing.... cant remember the name of the loch exactly, but it was somewhere in Scotland....

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It's the American's manipulating the market. Have a read on the GATA website.

 

Why does all the volitile activity take place on the New York time scale?

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There's a 2% rule (from the previous day’s close) by the manipulators, if it goes over this it gets whacked and it it hits 2% it will never go over 1% the following day. If it doesn't touch this threshold they leave it alone ordinarily.

 

Yes I realised that but why so little during other times.

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There's a 2% rule (from the previous day’s close) by the manipulators, if it goes over this it gets whacked and it it hits 2% it will never go over 1% the following day. If it doesn't touch this threshold they leave it alone ordinarily.

 

Interesting that they don't seem to have the intelligence to change the time of the smack down or release it in small amounts throughout the day. Even I noticed the smack down today and I don't know very much about this topic at all. My question is: why are they so thick?

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Interesting that they don't seem to have the intelligence to change the time of the smack down or release it in small amounts throughout the day. Even I noticed the smack down today and I don't know very much about this topic at all. My question is: why are they so thick?

 

They're not - they just think we are :lol:

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Interesting that they don't seem to have the intelligence to change the time of the smack down or release it in small amounts throughout the day. Even I noticed the smack down today and I don't know very much about this topic at all. My question is: why are they so thick?

They don't need to hide their activities because nobody can touch them. And they don't do it outside NY hours because they like to spend the evenings sacrificing bab...err...playing golf.

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They don't need to hide their activities because nobody can touch them. And they don't do it outside NY hours because they like to spend the evenings sacrificing bab...err...playing golf.

 

Would it not have a better effect if people didn't know it was happening? They may be keeping the price down but if everyone knows it is a fake then do they not just see it as noise? The only advantage I can see is that some people will see gold as not going up as much, rely on the smack downs to continue and therefore keep in dollars/stocks to make a greater profit elsewhere until the smack downs stop - at which point they switch to gold and say thanks for keeping it cheap. Maybe it is something to do with boiling frogs but I haven't done enough research on this to know I am afraid.

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Would it not have a better effect if people didn't know it was happening? They may be keeping the price down but if everyone knows it is a fake then do they not just see it as noise? The only advantage I can see is that some people will see gold as not going up as much, rely on the smack downs to continue and therefore keep in dollars/stocks to make a greater profit elsewhere until the smack downs stop - at which point they switch to gold and say thanks for keeping it cheap. Maybe it is something to do with boiling frogs but I haven't done enough research on this to know I am afraid.

I think it was Goldfinger who showed that a day trader would on average have been playing with a market in gold which went down between the london and NY fixings if he was trading over the last 9 years of a bull market where the price has quadrupled+.

 

Also, here is a plot showing the smackdown in its full glory averaged ovewr 4 years...you can see the price ends higher than it starts over the full 24h, that accounts for the tiny bull market effect. Compared to the smackdowns, it's tiny!

 

speck062802a.gif

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