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 Replies: 5,643 / Views: 460,353 |
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Pillar of the Community
United Kingdom
548 Posts |
When you people talk about the premiums over spot it would be more helpful if you expressed those premiums as a percentage over spot.
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Valued Member
United States
329 Posts |
I like gold right now because people are so bearish. I don't like stocks anymore because people are bullish. They are wrong. They have to be wrong or the system stops functioning.
But with each new high I sell some stocks and with each new low I buy some gold. Life is good and these are still the good times. Enjoy it while it lasts.
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Pillar of the Community
 United States
3789 Posts |
@stewart
My answer to your question regarding silver would be first-
Where is the proof, in documented legal paper work, that JPM Morgan is short silver?
Secondly, who are the ones raising these issues? What vested interests do they have. Could it be they are talking their book?
Finally, I don't seem to follow your point in regards to the futures market, if I am understanding you, you are saying that each contract for all sorts of commodities implies manipulation?
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Pillar of the Community
United States
2189 Posts |
@Yup..you have previously stated that gold and silver continue to chop, but fail to fill the 4/15 gap and continue to meet resistance. Does the current gold price @ 1414. mean that it broke through the first gap and now we wait and see if it meets resistance say @ 1450?
I am trying to figure out what tells me the chopping is over and if gold has a chance now that it appears to be off and running...a little.
what's your thoughts?
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Pillar of the Community
United States
3789 Posts |
just a quick up date- using our proxie for gold, GLD watch it closely.
As you can see, it is going into the gap. Lets see now far far. So far no attempt has been made to push it down as it going into this gap.
more later
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Pillar of the Community
Mexico
1304 Posts |
yup, thank you for your dedication to this thread!
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Pillar of the Community
United States
3789 Posts |
@RK55 give me a sec and I'll be back to answer your question got a couple of other trades moving
@harrison- not a problem, my whole plan was to stay with this. I have no agenda, I don't care if they go up or down, I am looking for the trend and price action.
be back
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Pillar of the Community
United States
3789 Posts |
Ok,
yes RK, we are going up into that gap. Right now we are entering the lower end of it. Thus far, twice it has been smacked down swiftly, today tho, thus far, that hasn't happened, so we are entering the gap.
Next up is filling the gap. thats going to be crucial. Using GLD as our proxy, closing that gap brings us to 143.43. So we need to see if they can close that gap from 4/12.
I would also note its interesting how gold is doing much more than silver,,, not even an attempt to fill the gap on the part of silver thus far.
Whenever we see chop or range bound trading, it means the market has a lot of indecision, it is waiting on more info before deciding its next big more. However, as I have stated, the longer the range, the more chop, the more explosive the move. Seeing that we are challenging the gap, there's a good chance we can see higher prices. Whats key to the action today is tomorrow,,,, we will we need follow through.
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Bedrock of the Community
13014 Posts |
Quote:
When you people talk about the premiums over spot it would be more helpful if you expressed those premiums as a percentage over spot. Percentages are misleading for premiums. Whether silver is 5 dollars or 50 dollars its still costs the mint the same 1-2 dollars to mint it. At 5 dollar spot its a 40 percent premium and at the current 23ish spot its a about a 10 percent premium yet the charge has been the exact same the whole time. They may work better for gold silver though not so much |
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Pillar of the Community
United States
3789 Posts |
Yea I was thinking the same about that... because I see some silver and gold proof coins say 5% over spot, some 10%.... so its all over the place.
Still, this is the BEST environment for picking up nice high end coins for my collection, I mean I am having a BLAST!.. and yes, some coins fell from where I bought but, I also some recuperate quickly also. Pretty interesting. reminds me of trading almost lol
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Pillar of the Community
United States
3789 Posts |
OK lets wrap up the action for today-
So we got some action. gold made an attempt to fill that gap, push a bit beyond it and settled pretty darn close to the lower end of that gap. IT was smacked down hard.
What are we looking for then?
A- a continued push tomorrow into the gap
B- gold just being flat and starting to chop around this area.
c- the sellers once again step in and push it down
That's our choices on gold. Tomorrow will give us more to go on, if you want higher prices you will want to see gold hold here and or move into that gap.
Silver, it has a lot of work to do going forward. No gap fill, no nothing. Simple as that.
our proxies
GLD- higher high and higher low over yesterday
SLV- higher high and higher low over yesterday
Keep in mind, both metals are STILL in downtrends. Also, with this move from gold, as a trader, I really really really would like to see heavy volume in come with this move to validate it. That's not to say it cant do it but the higher the volume, the better.
Keep your eyeballs glued tomorrow the price, should be rather telling tomorrow.
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Pillar of the Community
United States
3789 Posts |
Happy Friday everyone!
Well...after coming into the lower end of the gap, gold is giving it up again today and backing off again. Not what you want to see for higher prices.
Again, we have trend line resistance that is very strong, but that makes sense, seeing that the selling that happened on those days was with very heavy volume, indicating a mass exodus by the institutionals and funds. This is really only the way we can get higher, is by the market shifting its money back into this area, which it isn't and wont as I have been saying for months if you have been following my thread.
Now it is still early in the day and things could change but thus far, gold and silver still cant garner enough buyers to push it above that gap.
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Pillar of the Community
United States
4337 Posts |
Quote:
This is really only the way we can get higher, is by the market shifting its money back into this area, which it isn't and wont as I have been saying for months if you have been following my thread. When Bernake stops pumping $85bn per month, month in and month out, of his fake paper into the market and lets the stock market stand on its own, at that point IMO, is when you see the shift back towards PMs. It's a bit of a ride ahead of us but $1400 OZt Gold and $21/$22 OZt Silver are the new wading points in the pool based on all I read and see. They'll hang around that line until the shift occurs. But when it shifts and investor sentiment into the stock market declines, oh boy  Happy Days will be here again! BUY NOW!! |
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Bedrock of the Community
13014 Posts |
Why they spot pumping out money interest rates will return to banks and bonds creating a new competition. While the market in general is inflated, not everything is. Some stocks will fall when that happens but the strong ones will stand on their own leaving a place where more money can be made. In fact some stronger stocks can still be argued to be under valued right now which would be a good place to look for the hedge fund types when the others top out
The big money went into PMs because they werent sure if there was going to be bigger crash or not. That type of uncertainty needs to return to get the money flowing back in.
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Pillar of the Community
United States
1590 Posts |
Have I missed something? Haven't all the experts, pundents, and guys selling root beer been saying that QE is the sole, or at least majority, catalyst for great rise in PM prices?/
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Replies: 5,643 / Views: 460,353 |
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Posted 05/30/2013 09:06 am
