Author

Topic: Gold collapsing. Bitcoin UP. - page 1428. (Read 2032272 times)

legendary
Activity: 1764
Merit: 1002
July 31, 2012, 02:00:25 AM

If that makes you smile, you should hear me say it. Wink 
legendary
Activity: 1764
Merit: 1002
July 31, 2012, 01:47:36 AM
silverbox, how bout an update?  Wink
donator
Activity: 2772
Merit: 1019
July 31, 2012, 01:45:37 AM
The Daaash for Digital Caaash!

:-)
legendary
Activity: 1316
Merit: 1005
July 30, 2012, 06:34:36 PM
The Daaash for Digital Caaash!

Look at how small that rise looks now compared to two weeks ago. And on low, but rising volume! Smiley



I've got $11-12 as a danger zone for this week, with $14.80 as an immediate sell and $7.60 as a strong buy.

Also, we're on the 12th week in a row of gains; that's some healthy looking green...

Thanks, Pirate!
legendary
Activity: 1764
Merit: 1002
July 30, 2012, 06:11:37 PM
The Daaash for Digital Caaash!
legendary
Activity: 1764
Merit: 1002
July 30, 2012, 12:02:04 PM
you guys will be glad to hear that Friday i took down all my gold/silver/miner shorts in my brokerage acct for a large net cumulative gain.  however i did lose on the GLD short position if you insist on looking at that alone!  i still have DZZ and ZSL in other accts.  it doesn't mean i've gone bullish on gold, it just means i've lowered my short exposure for the time being to see what happens.  when all markets ramp on a side comment from Mario Draghi something is definitely up.

Woot! Wink



if i were you i'd get rid of those miners! Wink
legendary
Activity: 4760
Merit: 1283
July 30, 2012, 11:41:53 AM
I just stumbled in this bloomberg video where the first guy interviewed tells about a new kind of rearrangement of the currencies that the central bankers could decide, overnight, at closed markets.

Is this even possible?

What could happen in such a scenario?  Shocked

Probably the most likely next step actually.  Something which could be done without admitting total defeat of the EU idea.

Splitting the EU into N and S seems to me like it would just cause the same issues in two areas.  In other words, the stronger S countries would be pissed about the weaker S countries riding on their backs.  The populations may or may not appreciate what advantages (in having some flavor of Euro) may exist to the point where it would effectively mute desires to return to national currencies.  Such desires would likely be strongest among those countries who have a fair amount of gold.

As a US citizen the big question in my mind is whether it would cause continued distraction from the USD's structural issues, or serve to strengthen is as a 'stable' currency.  I could see either pressure winning out.  In the latter case I would expect more pressure to ease to lessen the stain of having a strong currency.  I see no near-term threat to our ability to export inflation.  Ongoing issue with the Euro are very helpful in allowing us to do so so the best outcome for us is that they find some more road to kick the can down.

legendary
Activity: 966
Merit: 1003
July 30, 2012, 08:07:52 AM
you guys will be glad to hear that Friday i took down all my gold/silver/miner shorts in my brokerage acct for a large net cumulative gain.  however i did lose on the GLD short position if you insist on looking at that alone!  i still have DZZ and ZSL in other accts.  it doesn't mean i've gone bullish on gold, it just means i've lowered my short exposure for the time being to see what happens.  when all markets ramp on a side comment from Mario Draghi something is definitely up.

Woot! Wink

hero member
Activity: 731
Merit: 503
Libertas a calumnia
July 30, 2012, 07:35:52 AM
I just stumbled in this bloomberg video where the first guy interviewed tells about a new kind of rearrangement of the currencies that the central bankers could decide, overnight, at closed markets.

Is this even possible?

What could happen in such a scenario?  Shocked
sr. member
Activity: 387
Merit: 250
July 30, 2012, 06:21:24 AM
Gold looks quite broken upwards in USD, in EUR not jet (test top and break support line? or break through?)
silver still has a few resistant lines but in EUR is a desicion situation (same like in june?)
left side gold, right side silver
USD:

EUR:

im thinking of buying gold and silver just to prepare for further prize movement cause corrections seem to end?
how possible is it that gold and silver break down?
how much do they correlate - will gold go up, silver crash?
legendary
Activity: 1316
Merit: 1005
July 30, 2012, 03:24:05 AM
I love your posts miscreanity.  Wink

 Grin

... i took down all my gold/silver/miner shorts in my brokerage acct for a large net cumulative gain.

...

when all markets ramp on a side comment from Mario Draghi something is definitely up.

Indeed. Praise for the corner-meister's profit skills Smiley
legendary
Activity: 1764
Merit: 1002
July 30, 2012, 12:02:13 AM
you guys will be glad to hear that Friday i took down all my gold/silver/miner shorts in my brokerage acct for a large net cumulative gain.  however i did lose on the GLD short position if you insist on looking at that alone!  i still have DZZ and ZSL in other accts.  it doesn't mean i've gone bullish on gold, it just means i've lowered my short exposure for the time being to see what happens.  when all markets ramp on a side comment from Mario Draghi something is definitely up.
legendary
Activity: 3388
Merit: 4775
diamond-handed zealot
July 29, 2012, 10:17:14 PM
It's almost like cypherdoc is the Bitcoin side that FOFOA dismisses, and FOFOA is the gold side that cypherdoc dismisses. Smiley


truth
legendary
Activity: 966
Merit: 1003
July 29, 2012, 10:07:21 PM
I love your posts miscreanity.  Wink
legendary
Activity: 1316
Merit: 1005
July 29, 2012, 06:09:14 PM
From an interview with FOFOA:

Quote
Most people who expect a catastrophic loss of confidence in the dollar seem to think it will begin in the financial markets, like a stock market crash or a Treasury auction failure or something like that. But I think it is more likely to come from where, as I like to say, the rubber meets the road. And here I'm talking about what connects the monetary world to the physical world: prices. I think these "worlds" are connected in two ways. The first is the general price level of goods and services and the second is the price of gold. If one of these two connections is broken by a failure to deliver the real-world items at the financial-system prices, then we suddenly have a real problem with the monetary side. So I think it will be a relatively quick and catastrophic event, but maybe not as dramatic as a major stock market crash. It will be confusing to most of the pundits as to what it really means, so it will take a little while for reality to sink in.

What happened with Bitcoin earlier this month is identical to the pattern in gold: a breakout move that starts to attract fresh interest from a wider demographic which is then muted through a sharp price drop. This keeps anyone who doesn't understand the underlying structure and fundamentals out of the game, allowing a continuing stable move toward appropriate valuation. In other words, price discovery is occurring in stages.

There's still a lack of recognition regarding the long term Bitcoin potential from the FO/FO/A camp, though. It's almost like cypherdoc is the Bitcoin side that FOFOA dismisses, and FOFOA is the gold side that cypherdoc dismisses. Smiley

As for Bitcoin's direction, the trading volume has tumbled to lows seen that preceded exchange price rises every time since the $5 level broke in May. Amateur and momentum traders are probably waiting for the a trigger rather than buying the dips. I'd say it's almost time to be ready for resumption of the measured, steady rise. Since the beginning of June, there's been a nearly perfect and stable 30-45 degree rise on the daily and weekly charts. With little sign of demand destruction aside from what happened during the spike above $9, the most likely direction is up.

Since early 2012, major volatility has subsided. So from late May, my gameplan has shifted to accumulation on daily declines in price (just like with gold) that are correlated with low volume, which all happen to have been weekends. Every time so far has been rewarded beautifully with an average cost now of about $5.85 per BTC from 11 signals over the past several weeks, including yesterday. Now that steady growth does seem to be the future course (with infrequent jumps in volatility), I think this strategy should run successfully for quite a while.

The following charts show the weekly and daily patterns:





Note that there was a sell trigger on the 21st and a buy on the 22nd at the daily level, but not the weekly.
legendary
Activity: 4760
Merit: 1283
July 27, 2012, 04:02:53 PM

Seemed pretty ho-hum to me frankly.  The usual droning on about how fucked up things are and will be.  No real actionable information.

Whenever I hear someone go on about how 'liberty' and 'democracy' are in danger I usually think to myself that that person is somewhat behind the ball.  My personal belief is that to the extent that these things still exist it is mostly just an aftertaste and a forgone conclusion that they will vanish.  The challenge will be to win them back at some point and it's not to early to start thinking about and setting up for that struggle (which is probably why I retain an interest in p2p crypto-currencies.)

legendary
Activity: 966
Merit: 1003
July 27, 2012, 02:36:29 PM


anxiety maybe? Wink

Naw, my plan was/is to wait till a few days before the next fomc and see where its at.  If I'm down over 25% before the Fed meets next week, I'll double down, if not, I'll just stand pat.

This rise in gold is most likley in anticpation of the FOMC next week, everyone is getting ready for Big Ben to pull that trigger.

What happens when they don't pull the trigger because the markets have been rising lately?

The markets pull back, and then rise again into the next FOMC..  I only give it about 30% chance that Ben will do anything at the meeting next week, its not one of the big meetings, September I think we have a 70+% chance to see QE action..
legendary
Activity: 1764
Merit: 1002
legendary
Activity: 1764
Merit: 1002
July 27, 2012, 11:48:32 AM


anxiety maybe? Wink

Naw, my plan was/is to wait till a few days before the next fomc and see where its at.  If I'm down over 25% before the Fed meets next week, I'll double down, if not, I'll just stand pat.

This rise in gold is most likley in anticpation of the FOMC next week, everyone is getting ready for Big Ben to pull that trigger.

What happens when they don't pull the trigger because the markets have been rising lately?

markets are trying to frontrun the frontrun.
legendary
Activity: 1904
Merit: 1002
July 27, 2012, 11:28:58 AM


anxiety maybe? Wink

Naw, my plan was/is to wait till a few days before the next fomc and see where its at.  If I'm down over 25% before the Fed meets next week, I'll double down, if not, I'll just stand pat.

This rise in gold is most likley in anticpation of the FOMC next week, everyone is getting ready for Big Ben to pull that trigger.

What happens when they don't pull the trigger because the markets have been rising lately?
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