A new trade was placed in the stellaconcepts trading thread for anyone who missed it early this morning... Time to get out the fiat and do some exchange.... Current Spot Prices: Silver: $US28.48 Gold: $US1573 Trade Two: BUY 2oz Gold: $3146+1.5% Premium ($3193.19) 10kg of Silver: $9156.32+4% Premium ($9522.24) Total Consideration $12,715.43 Portfolio: Cash On Hand: $32,637.59 Gold Oz: 3 Silver Oz: 417.95 Reasoning: Fed made clear that policy will be very easy for some time (Like we didnt know already wink The market has been concerned the fed wanted to ease up on their easing program, however made clear overnight that policy would remain very easy. This little nugget found on bloomberg as well. Boston Fed President Eric Rosengren said today "this discussion does not do justice to the policy trade-offs" of the Fed's large-scale asset purchases, referring to a paper written by four economists, including Frederic Mishkin, a former Fed governor and co-author with Chairman Ben S. Bernanke. Fed Governor Jerome Powell dismissed a suggestion policy makers won't act to curb inflation.
No doubt they'll try to introduce/enforce a new global currency. I hope they'll fail, as it'll be a very sad world to live in. However do you think you'll be able to exchange your AUD/USD 1:1 to NWD (New World Dollar)? I'd say you'll be lucky to do 10:1. Then yeah silver price of NWD $20 is possible. Howzat?
It's possible cartoon head, but I doubt that their new currency could destroy the value of silver like that... It's too inherently precious and is running out.
I hope not. Lots of things can affect price this week, with Italian election result (TUE), affect of UK losing AAA last week, UK-China Yuan Deal (cutting out need to use US$) etc.
As you all may have seen, there has been a new trade made in the StellaConcepts trading challenge. You may also be interested to know I've made a significant paper long on gold right now that should the price rise Ill convert to a non-leveraged physical position.
Have a look at the trading thread. I am not using (nor does the challenge allow) for paper trades to be made. I've simply 'bought' 10 ounces of gold as far as the challenge is concerned. In real life, I've bought paper right now, but will convert to physical (additionally, I have bought *some* physical gold today, but not 10oz). As for something being a *no brainer* as you say, unfortunately in markets NOTHING is a no-brainer until its retrospectively applied. Finally, you say you want me to pick tops? Sorry if you thought I ever pretended to think I can do that. I've never stated I have. I am the first to admit that the sell at the top of silver was simply a risk/reward question and nothing about claiming the top of the market. I was also selling in the 40's and even mid 20's. Picking tops and bottoms are for mugs... judging risk verses reward relatively accurately is what makes good trading over the long term. picking extremes in markets is for mugs and almost always results in losses in the long term.
Something I came across while doing some study that some might like to read, quite a few standout's that seem to repeat over time. 99 Market Wisdoms http://www.zerohedge.com/news/2013-02-22/99-market-wisdoms
All very wise words, and my pursuit of these philosophies has paid off handsomely. Notably, of all 99 market wisdoms listed, not one mention of fundamentals. Awesome: "The market is the sum total of the wisdom ... and the ignorance...of all of those who deal in it; and we dare not argue with the market's wisdom." And this is gold: "Never, under any circumstance add to a losing position.... ever! Nothing more need be said; to do otherwise will eventually and absolutely lead to ruin!" ^^ this is referring to averaging down.
10. To trade successfully, think like a fundamentalist; trade like a technician. It is imperative that we understand the fundamentals driving a trade, but also that we understand the market's technicals. When we do, then, and only then, can we or should we, trade. # 100, the whole market is FUNDAMENTALLY F@rked and there is no way out.
hey Stella This trading thread of yours has rekindled my interest in following your silver update videos again - especially now that ive opened my mind up to the possibilities of technical analysis. only problem is i cant find any of your "silver update" videos on your youtube channel.... so how come youve ditched them? Great debate on christianity/evolution etc vs Rawdog by the way .... I enjoyed it immensely... but i'm more interested now in your opinions on silver!!!
I had to take them down for a job i had last year.... and now if i put them back people think i just uploaded them and freak out..... i probably wont be doing many silver updates at all from now... unless it gets to $23.50ish and then I will get back on the tubes and start pounding the table!
