700-800 will take a shitton of work to get through if 800 don't hold
who knows maybe they setting us up for crash of everything and anything
this commodity smash a bit spooky if you thinking what massive deflation could do with the #1 world wide consumer in debt up to his eyeballs
who knows maybe they setting us up for crash of everything and anything
this commodity smash a bit spooky if you thinking what massive deflation could do with the #1 world wide consumer in debt up to his eyeballs
its called "painting the tape"
pretty smart strategy, it works well because the gold market is tiny
a lot of people follow charts, EW theory etc. - and by moving in at a major chart point and dumping paper (or in this case possibly IMF Gold)creates the desired effect, short term
X - I've followed KOG all day long since his thread began over there, seems to be sharp. He lost his ass about a month ago and stopped posting, since then I don't follow the thread
I did take a small GLD short position at 94, strickly as a hedge against long miner positions.....I may or may not cover tommorrow, in the meantime I have up the screen at apmex, been staring at it for an hour, an order for a $500 face value silver 90% bag and 10 kruggerands.
I'm having a hard time pulling the trigger but eeks last post may have pushed me over the edge, as always if I do buy it is only a fraction of what I'd like to accumulate this go-around
X, sounds like you have a good feel for KOG's thread, what is the consensus on a bottom? My sources are saying $800...but my gut is saying mid 7's....talk of the bull market being over is ridiculous.......
pretty smart strategy, it works well because the gold market is tiny
a lot of people follow charts, EW theory etc. - and by moving in at a major chart point and dumping paper (or in this case possibly IMF Gold)creates the desired effect, short term
X - I've followed KOG all day long since his thread began over there, seems to be sharp. He lost his ass about a month ago and stopped posting, since then I don't follow the thread
I did take a small GLD short position at 94, strickly as a hedge against long miner positions.....I may or may not cover tommorrow, in the meantime I have up the screen at apmex, been staring at it for an hour, an order for a $500 face value silver 90% bag and 10 kruggerands.
I'm having a hard time pulling the trigger but eeks last post may have pushed me over the edge, as always if I do buy it is only a fraction of what I'd like to accumulate this go-around
X, sounds like you have a good feel for KOG's thread, what is the consensus on a bottom? My sources are saying $800...but my gut is saying mid 7's....talk of the bull market being over is ridiculous.......
HONG KONG (MarketWatch) -- Japan's wholesale inflation rate surged to its highest level in 27 years in July, as companies raised prices to offset higher fuel and commodity input costs. Wholesale prices climbed 7.1% from a year earlier, accelerating from a 5.7% rise in June, the Bank of Japan said Tuesday.
Defaltion ending ?
Defaltion ending ?
i dunno jdog this is a whole new ballgame in this situation
previous years commodity game was rising with the debt party games working
now that banks are crippled for many years that game changes
as for how gold holds up in that situation is up for debate
but think the rest of um oil, copper, corn you name it their days are over for a few years or so
---------------
CS it's gonna be a mixed bag of things thrown at us all at once for right now as we undergoing the transition
the data is gonna lag the commodity prices moving down obviously
and prices you pay at the store for the finished products is gonna lag even more
the numbers you seeing now are in relation to the previous peaking prices in commodities
if deflation is coming you won't see CPI/PPI go negative in US till early 2009 unless they really keep pounding commodities and they don't bounce soon
previous years commodity game was rising with the debt party games working
now that banks are crippled for many years that game changes
as for how gold holds up in that situation is up for debate
but think the rest of um oil, copper, corn you name it their days are over for a few years or so
---------------
CS it's gonna be a mixed bag of things thrown at us all at once for right now as we undergoing the transition
the data is gonna lag the commodity prices moving down obviously
and prices you pay at the store for the finished products is gonna lag even more
the numbers you seeing now are in relation to the previous peaking prices in commodities
if deflation is coming you won't see CPI/PPI go negative in US till early 2009 unless they really keep pounding commodities and they don't bounce soon
yeah the banks really got a great supply of money right now
LMAO
no they chopping arms and legs off off their businesses to get cash
and no its not just money supply....its supply/demand
the previous worldwide commodity demand was based on our farse debt ridden consumption which in turn allowed many other worldwide markets to boom creating even more demand
now they on the path to price discovery for the new environment where american's can't get debt for quite some time
LMAO
no they chopping arms and legs off off their businesses to get cash
and no its not just money supply....its supply/demand
the previous worldwide commodity demand was based on our farse debt ridden consumption which in turn allowed many other worldwide markets to boom creating even more demand
now they on the path to price discovery for the new environment where american's can't get debt for quite some time
jdog how many people right now do you think in america can dig up a good supply of money if they needed to
i'm talking millions of dollars
not to mention companies as well like banks who are looking for capital anywhere they can.....
not many in the ranks of J6P which is a bulk of our population
their supply of money (or it increasing) is based on getting more credit...which is basically almost nil right now in comparison to recent past
i'm talking millions of dollars
not to mention companies as well like banks who are looking for capital anywhere they can.....
not many in the ranks of J6P which is a bulk of our population
their supply of money (or it increasing) is based on getting more credit...which is basically almost nil right now in comparison to recent past
the problem you also have with CPI/PPI jdog is its a measure of the economy as a whole
many things have been deflating the last several years due to cheap chinese production
flat screen tvs, laptops, ipods, cell phones, basically any tech gadget you can think of (i'm looking for a replacement cause i lost some earphones for an ipod touch.....can get some chinese made piece of crap for 5 dollars).....shirts and shoes at the bottom end of things non designer shit.....lot of deflation around in the "shit you don't need" category i always throw out there.....the cpi/ppi just takes all aspects of the economy into consideration
just take a look at walmart a few years ago vs. now you will see lower prices in alot of stuff (might be lower quality but that's not the point)
obviously things have been flying in the shit you need category but that's not the american economy as a whole
and alot of the "shit you don't need" about to get flushed outta the economy (already in progress)and with it many jobs will be lost
many things have been deflating the last several years due to cheap chinese production
flat screen tvs, laptops, ipods, cell phones, basically any tech gadget you can think of (i'm looking for a replacement cause i lost some earphones for an ipod touch.....can get some chinese made piece of crap for 5 dollars).....shirts and shoes at the bottom end of things non designer shit.....lot of deflation around in the "shit you don't need" category i always throw out there.....the cpi/ppi just takes all aspects of the economy into consideration
just take a look at walmart a few years ago vs. now you will see lower prices in alot of stuff (might be lower quality but that's not the point)
obviously things have been flying in the shit you need category but that's not the american economy as a whole
and alot of the "shit you don't need" about to get flushed outta the economy (already in progress)and with it many jobs will be lost
eek.
What should not go without notice is that you were the #1 gold basher here at rx starting at 400 and finally bought around 850-1k.
What also should not go without notice is that you posted that you finally bought gold somewhere around 850-950 earlier this year.
Nice job...this gem post you made here today will be fun to look at years from now.
eek, a casual member here reading your posts about this subject the past 3.5 years, instead of trading at it its highest ever range the past 12 months, would think gold is trading about the same price of a couple bus tokens.
Extreme volatility always seems to bring out pure emotions.
Cheapseats, do you have any other cheap shots to take at me regarding my call to take profits and dump fertilizer stocks in mid/late April? Glad I needed the money, for it looks like a lucky call now, eh?
Wish I would have been smart enough to step aside my precious metals holdings, as my portfolio has been shit for a while now, but shit happens.
Better days are coming, but as usual this pm bull ride is a wild ride.
jdog, your obama odds are still falling...got a pretty decent scalp available.
:chest:
What should not go without notice is that you were the #1 gold basher here at rx starting at 400 and finally bought around 850-1k.
What also should not go without notice is that you posted that you finally bought gold somewhere around 850-950 earlier this year.
Nice job...this gem post you made here today will be fun to look at years from now.
eek, a casual member here reading your posts about this subject the past 3.5 years, instead of trading at it its highest ever range the past 12 months, would think gold is trading about the same price of a couple bus tokens.
Extreme volatility always seems to bring out pure emotions.
Cheapseats, do you have any other cheap shots to take at me regarding my call to take profits and dump fertilizer stocks in mid/late April? Glad I needed the money, for it looks like a lucky call now, eh?
Wish I would have been smart enough to step aside my precious metals holdings, as my portfolio has been shit for a while now, but shit happens.
Better days are coming, but as usual this pm bull ride is a wild ride.
jdog, your obama odds are still falling...got a pretty decent scalp available.
:chest:
also CS speaking of PPI recently rising wages, more worker rights, more environmental standards etc....in china has really made cost of production go up on top of the screaming commodities
so might take some time for those numbers to show up the data worldwide
things are going from no volatility to extreme volatility in a short period of time
so going be alot of wild conflicting data
so might take some time for those numbers to show up the data worldwide
things are going from no volatility to extreme volatility in a short period of time
so going be alot of wild conflicting data
y the chinese government trying to control pollution for 2 weeks and throwing a multi billion dollar party
ope:not to mention all the commodity interests they dumped money into that might be about to crumble
recently agreed to 98% price hike in iron ore or something
think chinese government making bonehead decisions might make matters worse now that i think more about it
