gonna be some great buys everywhere once this congress fiasco is over. my positions havent been hit too hard.. well except for ZLCS.. gonna be holding that bag for a minute
I hope we can get some actual panic into the market, but I'm not so sure it will happen unless the politicians act completely wreckless. I guess wait and see if they can drag this thing on past the 17th and that would really get some people scared.
so robbie if gold is such a bad buy then why did IAG shoot up from $4.34 to $4.55 in a 15 minute window just now, it seems like some big buyers are buying into gold right now
Cool. So anyhow....back to my question....you do understand that the dollar has risen in value versus gold in the past year? I get the feeling that you didn't understand that before when you were loling at the dollar rising.
I took profit this morning on a BIDU short I had from a couple of days ago. Also this morning I went long the dow, the spy, the russells, xrt, and xlu. Went short INFY and VZ. All swing trades.
Robbie gold rose bc of 1)profit taking after a HUGE rise 2)weak hands selling gold isn't a bad investment, and at 31% off it's $1900/oz highs it is a great buy here. Would you advocate buying the S&P at an almost all time high and a 19x multiple or an asset that has a long history of having value. You do realize anything goes wrong:war,terrorist attack, anything and gold rises on fear right? There is more of a chance of something bad happening than good at this point. Some municipality whether it be chicago or san jose or some other big city will file bankruptcy soon and all of a sudden gold will be the talk again....think it won't happen? It happened in detroit this year. Why are the asians buying so much gold, 4 straight months topping 100 tonnes for china?!!? Follow the money is one of the big lessons i learned in life, and you need to learn that this sell off is nothing more than market manipulation by government and big banks You buy what you want, but gold is a steal here, it can't go much lower, the gold miners will stop mining and that will drive up the price. $1100-1300 is the mine price per oz, so much lower and there will be supply constraints. Yes ganja, more printing like yellen wants will make stocks rise, homes will rise, your dollar will weaken and thus gold will rise. Look to september 17 and the date we announced no tapering, gold soared 4% in one day.
Yellen isn't going to be "printing money" indefinitely. After this govt shutdown idiocy is over look for the Fed to being tapering.
you still havent answered my question on why the dollar rose? The dollar is utter garbage, it is backed by 17 trillion in debt and a 100 trillion in unfunded liabilities. It's backed by the good faith and credit of the US which by the way is such a joke that china and japan had to recently call the white house to warn them about not defaulting on the debt. The dollar rose bc every country on earth is being led by a mad man like shinzo abe in japan who are trying to weaken their own currency. So all these major currencies mired in debt and one of these nations debt bubble is going to pop soon whether it be us or Japan, and the markets will panic and gold will rise.
Nice pickup on those. I saw the DIA hit the 200 ma. I'm curious how we will trade on the SPY if we can get past the resistance at 166.30-ish.
o she's gonna start tapering? That's novel, I thought we've been talking about starting all year? When are you gonna give up the thought that what the government says is worthless and what it does is reality. They CANNOT taper, higher rates will crush the housing market, they will crush auto sales, and they will pull money out of the market and into savings and CDs so a big drop would occur there. The debt would become all that much pricier to service. The reality is there will absolutely no taper of anything meaningful, so what if they knock $10B off per month, that's a success? LOL so instead of the fed printing $85B x 12 or $1 trillion per year we print $75B per month x 12 or $900B in fake money annually? LMAO if we could have tapered don't you think we would have done it by now? They all keep kicking the can down the road because they don't want the bubble to burst on their watch. Don't you think bernanke knows this? That's why he didn't even want his new term, lol who doesn't wanna be the most powerful man in the world, head of the fed? O the reason you don't wanna run the fed is bc the whole house of cards is about to fall and you don't want to be the center of the blame wake up
My money is primarily invested in small business and the market. The S&P 500 with dividends reinvested has vastly outperformed gold over my lifetime. There is no debating that. Additionally, the dollar and gold are not highly correlated.
Wow you compared a half century of s and p data vs gold which has survived thousands of years. Hate to burst your bubble but the hyper growth of the us is behind us, look at the 20 year nikkei chart of Japan if you wanna see where we are headed with all this printing. I love how people like you throw out data like the past 50 years of American growth are going to be replicated moving forward. America and its markets are a ticking time bomb that are going to blow up with this debt bubble we are creating
We can go even further back and the outperformance gets even bigger. You don't seem to understand anything. I find it hard to believe you were in law school. We can use the FTSE from the UK if that makes you happy. This discussion is pointless. I'm completely done with you. Moving on.
Tell me Robbie where was the ftse 1000 years ago? Gold had value then and gold is up 500% since 1998 what's the Dow up since then? So don't act all pious you literally can't formulate your own ideology you sound like the talking heads on tv who are leading the sheep to slaughter by telling them America is recovering and the dollar is strengthening meanwhile our biggest bond holder in china is buying all the gold it can get its hands on so they can dump our treasuries,weaken the dollar, strengthen their new gold and effectively crush our economy without a war
ganja read this http://seekingalpha.com/article/1737512-greg-mccoach-says-keep-the-best-and-dump-the-rest Like I said my pick for gold is IAG bc it pays a 5.5% dividend which physical gold doesn't and it's trading at $4.50 and was $20 a year ago. I didn't let you down with HIMX did I? That doubled in a month, IAG has a simple business model, it costs $1100 to mine gold and they sell it, they sell 1,000,000 ounces a year about. So if gold goes up significantly they profit more. When gold was $1600/oz it was $16/share.....we're at $1300 now and it's $4.50/share.....its just market panic that sold it off, that's why ceo and cfo bought 100k shares recently over $6. All in all, insiders bought 477,000 shares last year. Well over $4.50. What would cause gold to rise? Government issues, war, more debt, more unemployment, bankruptcy from a major city/state/country/,a myriad of bad things. The way gold is priced right now you'd think everything was just perfect in this utopia we call earth. Dont listen to the media, they keep saying everything is ok, look around you, is everything ok? Is the economy booming or is the government doctoring numbers to make it seem that way? You're smart. here's another good read on how gold reacted during lehman crisis http://seekingalpha.com/article/1736432-u-s-technical-default-the-impact-on-gold
so gold is undervalued for sure these days.. that explains the increased interest in KGJI and the one day .50 pop it had.. still way undervalued compared to book value.. the Fed can taper and gold will either stay steady but it wont tank thats certain.
