Warning to All Goldbugs

Discussion in 'Gold' started by leon1998, Oct 12, 2015.

  1. Silverpv

    Silverpv New Member

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    Waiting for a little deadcat bounce..
     
  2. leon1998

    leon1998 Member

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    I am afraid Commercials/Banksters are harvesting their short positions now; gold might stay flat @us$1140 for an extended period of time, until :p peeps believe gold finds support and pile on long position. Then Commercials will hit gold price again, sweeping through these peeps' stop loss. Very evil plan, isn't it :lol:

     
  3. Silverpv

    Silverpv New Member

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    Its typical.. same crap in the market.. let it go up until people are confident and short the hell out of it and take the carpet out from underneath everyone. Evil? or Capitalism at its best. They'll let it drift up a bit and then deny another attempt at breakout.
     
  4. leon1998

    leon1998 Member

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    Looks like lots of peeps bought physical past weekend; I am sure they got a good deal until now. :p

    Gold broke the support of US$1,140 and fell to US$1,134 now. Not a good sign for perma bulls. :D
     
  5. Silverpv

    Silverpv New Member

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    The low premiums on gold spooked me and I sold last week. If this lasts a few weeks, that's a bummer. Holidays are coming up so mostly I'll be selling. up until then and locking in some profits.
     
  6. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    Wasn't referring to you Ronnie 666...just a generalization. :)

    Yes...the cancer will eventually attack the head (US$). I'd agree with that but when?

    The can keeps getting kicked down the road, Congress approves of more debt and we are continually told that the USD is going to collapse. No one can predict when the USD will "collapse" even though we know the US is in debt to their eye-balls.

    So why can a country have so much debt, zeroe interest rates, a huge public service, a Federal Reserve owned by a civilian cartel of international bankers and a GDP that doesan't meet expenditure?

    Although Leon may be seen by some as a troll or a "Bear" he's made better calls than Peter Schiff as to where the price of metal is going short term.

    Long-term, I think Peter Schiff's views of how the US monetary system will tank will eventually come to fruition but Schiff's timing is aweful?

    Folk who already own gold don't have to charge in to buy, they can wait and see. I think owning gold is a no brainer for the lon-term. I see the AUD to USD loosing ground and of course gold in AUD is doing dandy as are selected 1oz Lunar gold coins.

    As a side note...I enjoy Leon's posts, they are more entertaining than my music posts which have been deleted.

    Best :)
     
  7. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    All USD doomsayers have been wrong. All predictions have failed. People confuse ideological fantasies with reality and fail to see what gives the USD strength. People furiously masturbate to Chinese and Russian anti-USD propaganda and then ejaculate their second hand opinions all over the Internet. The value of a US dollar measured against gold may certainly decline, but the idea of the USD and trust in it as a currency is as strong as ever.
     
  8. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

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    ^ I predict USD is going down and will be replaced by another nations currency, namely China's, and when that happens you owe me 1oz silver from our bet :p
     
  9. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    And if it doesn't I get an ounce of silver :)

    What if all currencies are eliminated? Who gets our silver?
     
  10. Ronnie 666

    Ronnie 666 Well-Known Member Silver Stacker

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    Holdfast keep the faith. When people are too scared to buy the dip and bulls get despondent then in reality you need to buy more. The system is due for a major cathartic event. Yes its is hard to time this and if you recall Peter Schiff was warning about housing for years prior to the collapse in 07. Yes the money printing and goosing the stock market has distracted the majority. Yet, in the face of rising stock prices, most big corporations are running at a loss and borrowing cash to pay dividends (BHP and IBM). They have printed and borrowed to support the banks and stock futures for what ? to sacrifice the real economy and destroy the small businessman. Governments will raise more and more tax (like ours) to fund their growing expenditure and support the non productive. Its going to end very badly - its just when not if. So.... sit tight in your silver lifeboat and wait. If you own physical - then nothing will happen to the number of oz you have. Just sit it out, the move is coming and honestly no one knows when. The hardest thing in any market real or fake is to sit on your hands and wait.
     
  11. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

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    They won't be if they do, we both keep our silver and use that to barter and buy stuff with :p
     
  12. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    The system is due for a major cathartic event.

    Keep the faith.

    The system has been due for a major cathartic event for somtime now but logic has no place in the market for physical gold or the share market.

    I see the USD gaining strength, I see platinum, Gold and silver going lower and I expect the AUd exchange rate to continue south.

    Sure...metal will do ok...but I think we will see lower prices well and truly before we see the USD plummet.

    As a side note:

    In fact...if we see an "anomaly" in the South China Sea and more ground troops (Special forces) in Syria we could be witness to a stronger USD (spike up) and a spike down for gold.

    Demand is strong for physical metal but I expect a fatque will set in.

    I'd say...lower prices for metal in USD and higher prices for metal in AUD.

    There's no reason to buy if you already own a few ounces...stack a bit of cash for a falling property market and any oversold stocks.

    And lastly...diversify in what you buy and never fall-in-love with metal. Protection of your capital in these times is the goal...we have all had plenty of time to prepare...Bernake gave us time and Yellen is no different.

    There will always be a time to hold, sell or buy. Imo...this is a very good time to hold.

    History is your friend.
     
  13. Ronnie 666

    Ronnie 666 Well-Known Member Silver Stacker

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    I look at these things from a historic view and at times of major price inflection, hardly anyone predicted the move. I would be worried if people were calling the bottom. Everyone expects lower prices. maybe they are wrong ?

    Holdfast, I do not see geopolitical events tied to gold or the $. The world has been in a catastrophic mess these past years and it has not impacted either gold nor the US$. The Fed has had the upper hand printing cash and supporting collapsing markets. Is that still true ? after the failure to raise rates. Also the real economy in all forms is collapsing. Big companies are taking pain and the Fed cannot continue with this sucking sound draining away liquidity. Gold's real moment in the sun will be when the Fed starts QE4. In the meanwhile, if gold can move up slowly and quietly without any reason, it will sound its true intentions of moving much higher. In the short term if gold can hold about $1130 and starts creeping up we will see a painful moments for the holders of short contracts in PM. If not we will have to wait a little longer.

    After many years in the PM space I can tell you with 100% certainty that no one can predict market moves especially these past years. If a trader gets it right then its only a matter of time before it goes wrong. Leon thinks he can predict lower prices based on the COT reports of commercials loaded up with short contracts. He may be right now but will he be right tomorrow or next week ?

    I leave you with a great quote from Jesse Livermore

    "The market does not beat them. They beat themselves, because though they have brains they cannot sit tight."
     
  14. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    "The market does not beat them. They beat themselves, because though they have brains they cannot sit tight."

    That's my point!

    Haven't I been saying that? :/
     
  15. SilverDJ

    SilverDJ Well-Known Member

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    [youtube]http://www.youtube.com/watch?v=Jj4nJ1YEAp4[/youtube]
     
  16. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

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    Maloney just put out a good video imo on gold and the USD. Another nail in the coffin for the USD?

    If this chart is true how can gold price not soon go rocketing up?

    [youtube]http://www.youtube.com/watch?v=sLcNy-MyME4[/youtube]
     
  17. Ronnie 666

    Ronnie 666 Well-Known Member Silver Stacker

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    Jesse Holdfast Livermore :D

    Thumbs up holdfast
     
  18. Ronnie 666

    Ronnie 666 Well-Known Member Silver Stacker

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    Because they are all reading Leon's post.
     
  19. leon1998

    leon1998 Member

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    It looks like GLD tested the upper edge of downtrend channel and headed down again. So funny that many perma bulls were excited about the "breakout", which didn't materialize. Perma Bulls have been wrong for three years and now they're desperate. I really hope your guys didn't listen to them and bought the breakout @ US$1,185 area.

    HEAD FAKE and then RUG PULLED. Deja Vu :p
     
  20. mr-dead

    mr-dead Member

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    How many times and in how many ways can you shout "I told you so"

    Like a kid in the playground.
     

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