| Author |
 Replies: 5,643 / Views: 459,866 |
|
|
|
Valued Member
United States
410 Posts |
BBC is currently running the fake tweet story in their "Top Stories" section. It is sad but I find that the BBC does a better job of covering news in the US than our local news outlets. That is if you want real news, not who was voted off on American Idol or what some celebrity has been up to.
|
|
Bedrock of the Community
13014 Posts |
Some of the channels do a better job then others here, local news though is basically TMZ mixed in with the most depressing things you can possibly find. Clinical depression would probably go down at least 10 percent if people stopped watching local news
|
|
Pillar of the Community
United States
2168 Posts |
It seems all week PM have been pretty flat. Has anyone found more stable premiums or more availible?
|
|
Pillar of the Community
 United States
3789 Posts |
this morning gold is attempting to go into the gap. How far it goes, we;ll have to see. Whether this is a retracement or the start of something else we will have to see, but a retracement wouldn't be anything new. Look to see if it eventually fills the gap, again looking for it to fill 143.43 in the coming days. (refer to GLD as the proxy to KISS).
Silver, is acting weaker, acting with a slow grind down then a bounce. See if this continues, it continues to be weaker of the two.
So, as always, be patient and allow the moves to play out with time. Don't feel that the train is leaving either. I don't see any big volume coming into the move in gold either.
|
|
Valued Member
United Kingdom
90 Posts |
If lets say the overall downtrend did continue and the price of gold was driven to sub-$1000. I wonder how long that could actually last, given the impact it would start to have on mining. I know the markets dont really care about the real physical world, what with paper gold and all that, but at some point something would have to snap right?.
|
|
Pillar of the Community
United States
3789 Posts |
All I can say is the miners are stuck to the price of gold where ever it goes. So, I would suppose, as they have in the past, the miners start to drop projects, close mines, cut back etc. It is pretty clear that's what will happen as demonstrated by the price action in the mining stocks, going forward their growth in production is going to go down as the market is discounting that via the share prices.
Its any ones guess where prices end up, and where they bounce etc. I would say, barring some unforeseen events, gold and silver go lower, find a floor and chop around and do nothing for a period of time. Then again, after yesterday and seeing how gold was ignored and didn't act as a safe haven on the hoax yesterday.... I highly doubt that even would help gold at this point.
|
|
Pillar of the Community
United Kingdom
616 Posts |
|
|
Pillar of the Community
United States
3789 Posts |
Hey Star-
I like it,, in the sense of the concept. But there's a couple things that I don't like that I wouldn't trade or use it-
1- very low volume, no liquidity. What this means is it will be very difficult to get an accurate price on the bid and ask for starters. That also means almost no one is using it.
2- This is a relatively new product, wait and see if the market comes around it to use it and see if it can really do what CS says it can. At this point we don't know. I see this all the time, products come to market, good ideas but execution is horrible.
3- Being an ETN, the tax libility puts you at a lower product right away, thats a good thing because if you have profits, you give less away in taxes.
So I would stay away, tho the concept is nice in the sense they are trying to give you the whole ball of wax with the covered calls.
I might add, you could write covered calls or strangles with SLV and just do the same. Just a thought.
|
|
Valued Member
United States
329 Posts |
I'm up nicely on my gold bull ETF. More than paid for my vacation. Sometimes its best to take a position walk away and enjoy life.
|
|
Pillar of the Community
United States
3789 Posts |
Friends-
just a quick note for today, using GLD and SLV as our proxies for everyone keeping track at home
SLV coming into the gap, this morning it attempted to go into it, it has come down a bit. Keep an eye to see if it can get over first over 23.10 and hold that in order to push higher.
GLD it continues to move into the gap, again we are looking to see it punch into the lower end of that gap 143.43, watch and see what happens.
No one is surprised by these retracements, they happen. What we don't see if heavy volume of buying, therefore the conviction is suspect and more price action will be necessary.
and yes, despite this weeks moves, gold and silver continue to be a strong downtrend, nothing has changed.
|
|
Pillar of the Community
United States
5870 Posts |
Quote:
What we don't see if heavy volume of buying Well, you would see heavy volume of buying if dealers actually had silver in stock and hadn't raised their premiums high enough to obliterate any savings that would have come as a result of the drop... [You're probably just talking about paper trading, though. Still it's awfully frustrating to be prepared to buy and find nothing available at the lower price.] BTW, last time I checked gold was at $1455 and silver was at $24. Edited by barryg
04/25/2013 11:18 am
|
|
Valued Member
Canada
78 Posts |
Yup you keep saying things are not bad in Europe and a recovery is taking place...
"In other overnight news, Spain's unemployment rate rose to a record high of 27.2% in the first quarter. It was also reported that Spain's gross domestic product contracted at an annual rate of 2% in the first quarter."
Good lord...27.2%...sure it is only Spain...but Germany the key engine is struggling alot lately...matter of time before Europe has to cut rates again, as recovery that Yup describes in Europe does not exist.
|
|
Pillar of the Community
United States
3789 Posts |
Yes Barry, as I stated for the home gamers, I am referring to GLD and SLV.
and I know I will upset many of you, but no matter how hard you all try to discredit the futures market, it is that market that calls the shots and determines prices and is of importance, without it there's no market.
It is very sad to see the public fall into thinking that all that matters is the physical product. I just hope everyone doesn't fall into this trap.
As I have said repeatedly, gold and silver are not seeing real heavy volume buying in this retracement. Volume is key to any asset class moving up, or moving down, it is what gives us confirmation.
|
|
Pillar of the Community
United States
2168 Posts |
Some of the problem with purchasing physical PM was due to supply issues. Premiums are high as well. I did check with my local shop yesterday 15 percent over spot for 90percent so not too bad. Less than many online places. And he had availability. Who knows really. No crystal ball yet! Look what happened with the stock market with the false news. Turns out computer sales! Certain words in the news and kamoom
|
|
Pillar of the Community
United States
5870 Posts |
Quote:
Yes Barry, as I stated for the home gamers, I am referring to GLD and SLV. I guess I'm just wondering how many people on this forum even have the knowledge and wherewithal to be trading in GLD and SLV in the first place and how relevant your comments are to those of us who purely buy and sell physical PM? Earlier, you kept saying that now was the time to sell, sell, sell instead of continuing to buy the dips. But after many pages of confusion and argument you finally mentioned that you were talking about "selling short" GLD and SLV, which is apparently very different from actually selling off physical gold and silver (which it certainly seemed like you were talking about). I wouldn't have the faintest clue how to sell short GLD and SLV, to be honest, and perhaps I could have made a fortune taking your advice if I did. But the one thing I do know is how glad I am that I continued buying physical gold and silver as prices dropped recently (especially since there are no bargains to be found now that prices have apparently bottomed out and started to rise again). Again, I no longer think you are just blowing hot air the way that I admittedly did at the beginning, but I still question how relevant your advice is if it only applies to GLD and SLV. |
| |
Replies: 5,643 / Views: 459,866 |
First Page
Previous Page
Posted 04/23/2013 9:35 pm
