Topic: Gold collapsing. Bitcoin UP. - page 1466. (Read 2032274 times)
got shorts on GG and SLW too now.
Well seeing as how gold just had a itty bitty rise..
this thread was started 3/13
Bitcoin 5.40
Gold 1690.
today 6/1
Bitcoin 5.25 (down ~3%)
Gold 1613 (down ~5%)
BTC still isn't up . Gold still hasn't collapsed. BTC is slightly outperforming gold.
AAPL 567 (only one week to go)
this thread was started 3/13
Bitcoin 5.40
Gold 1690.
today 6/1
Bitcoin 5.25 (down ~3%)
Gold 1613 (down ~5%)
BTC still isn't up . Gold still hasn't collapsed. BTC is slightly outperforming gold.
AAPL 567 (only one week to go)
the Apple bet doesn't look good for me but i still have a chance this coming week especially since we've broke down below the consolidation in stocks.
if the Mandarins don't want gold/silver to take off to the Moon and take over as the world's reserve currency, they're gonna have to let Apple crash to pull pm's back down after today's move. pretty please?
I still think gold will do relatively well in a deflationary environment. The time it does bad would be when over asset classes are undervalued and gold is overvalued and when the economic situation is stable.
I talked to someone from Gold Insight, the deal is a 10%-20% discount on gold doré bars from the London PM fix plus approximately $150 (£100) delivery charge with 6-12 months delivery time. Good deal if you can wait 6-12 months. Before I can consider this I need to think about how much cash I will need and what my earnings will be since I will almost certainly need cash before 12 months so I need to figure how much of the investments must be liquid in this time. Maybe I should actually try investing in bitcoin. What do people use to keep large amounts of bitcoins safe? Offline wallets using bitcoin Armory? Online Javascript wallets with offline back-up?
I talked to someone from Gold Insight, the deal is a 10%-20% discount on gold doré bars from the London PM fix plus approximately $150 (£100) delivery charge with 6-12 months delivery time. Good deal if you can wait 6-12 months. Before I can consider this I need to think about how much cash I will need and what my earnings will be since I will almost certainly need cash before 12 months so I need to figure how much of the investments must be liquid in this time. Maybe I should actually try investing in bitcoin. What do people use to keep large amounts of bitcoins safe? Offline wallets using bitcoin Armory? Online Javascript wallets with offline back-up?
amazing you don't have any Bitcoin after trolling me so long. Armory is definitely the way to go.
Quote
Also I hope gold goes back down a bit if I want to buy. I also need money to fall from the sky. That would make things easier. 
I'm assuming an additional digit goes before the decimal point? I respect you put your money where you mouth is, but I think you are insane.
I hope we are all wrong and gold goes sideways forever so we can all laugh.
Quote
well, me for one. i put on a huge GLD short at $152.17
I'm assuming an additional digit goes before the decimal point? I respect you put your money where you mouth is, but I think you are insane.
I hope we are all wrong and gold goes sideways forever so we can all laugh.
thank gaud i had a GDXJ long hedge on. just took it down. hope i don't regret that.
General Comment: USDX: now @ 82.70
Another Score: 6/01/12
year ago now delta mult
BTC 8.80 5.25 + 0.60
Gold 1542 1614 + 1.05
--------------------------
ref (for future updates):
http://bitcoincharts.com/charts/mtgoxUSD#czsg2011-06-01zeg2011-06-03ztgSzm1g10zm2g25zv (change date)
http://www.kitco.com/charts/livegold.html (hist cgi at bottom)
mult=now/year_ago
day ya-btc btc mult ya-Au Au mult
2012-06-01 8.80 5.25 0.60 1542 1614 1.05
2012-05-25 7.30 5.15 0.71 1528 1574 1.03
2012-05-24 7.10 5.14 0.72 1514 1558 1.03
2012-05-23 7.10 5.13 0.72 1515 1562 1.03
2012-05-22 6.30 5.09 0.81 1512 1560 1.03
2012-05-21 5.90 5.10 0.86 1514 1590 1.05
2012-05-18 7.50 5.12 0.68 1497 1592 1.06
2012-05-17 7.80 5.09 0.65 1480 1574 1.06
2012-05-16 7.40 5.09 0.69 1495 1533 1.03
2012-05-15 6.80 5.03 0.74 1492 1545 1.04
2012-05-14 8.50 5.00 0.59 1495 1555 1.04
2012-05-12 5.40 4.95 0.92 1505 1580 1.05
2012-05-11 5.00 4.95 0.99 1505 1580 1.05
2012-05-10 3.82 4.90 1.28 1510 1593 1.05
2012-05-09 3.75 5.03 1.34 1510 1590 1.05
2012-05-08 3.64 5.03 1.38 1497 1605 1.07
I really for the life of me can't understand how such price jumps or drops are possible. I mean WTF, who would be so stupid to just dump their assets and crash the price like that? I don't get it..
well, me for one. i put on a huge GLD short at $152.17
yes, you can put that one in the record too.
recorded!
You might regret this one
You cover yet??
actually no. i'm way in the green today with my stock shorts (Apple
) AND my subscribers know i had a GDXJ long hedge position on that i just sold (hope i don't regret that!).and then i added to my gold/silver shorts this AM, lol!
I still think gold will do relatively well in a deflationary environment. The time it does bad would be when over asset classes are undervalued and gold is overvalued and when the economic situation is stable.
I talked to someone from Gold Insight, the deal is a 10%-20% discount on gold doré bars from the London PM fix plus approximately $150 (£100) delivery charge with 6-12 months delivery time. Good deal if you can wait 6-12 months. Before I can consider this I need to think about how much cash I will need and what my earnings will be since I will almost certainly need cash before 12 months so I need to figure how much of the investments must be liquid in this time. Maybe I should actually try investing in bitcoin. What do people use to keep large amounts of bitcoins safe? Offline wallets using bitcoin Armory? Online Javascript wallets with offline back-up?
Also I hope gold goes back down a bit if I want to buy. I also need money to fall from the sky. That would make things easier.
I'm assuming an additional digit goes before the decimal point? I respect you put your money where you mouth is, but I think you are insane.
I hope we are all wrong and gold goes sideways forever so we can all laugh.
I talked to someone from Gold Insight, the deal is a 10%-20% discount on gold doré bars from the London PM fix plus approximately $150 (£100) delivery charge with 6-12 months delivery time. Good deal if you can wait 6-12 months. Before I can consider this I need to think about how much cash I will need and what my earnings will be since I will almost certainly need cash before 12 months so I need to figure how much of the investments must be liquid in this time. Maybe I should actually try investing in bitcoin. What do people use to keep large amounts of bitcoins safe? Offline wallets using bitcoin Armory? Online Javascript wallets with offline back-up?
Also I hope gold goes back down a bit if I want to buy. I also need money to fall from the sky. That would make things easier.
Quote
well, me for one. i put on a huge GLD short at $152.17
I'm assuming an additional digit goes before the decimal point? I respect you put your money where you mouth is, but I think you are insane.
I hope we are all wrong and gold goes sideways forever so we can all laugh.
Well seeing as how gold just had a itty bitty rise..
this thread was started 3/13
Bitcoin 5.40
Gold 1690.
today 6/1
Bitcoin 5.25 (down ~3%)
Gold 1613 (down ~5%)
BTC still isn't up . Gold still hasn't collapsed. BTC is slightly outperforming gold.
AAPL 567 (only one week to go)
this thread was started 3/13
Bitcoin 5.40
Gold 1690.
today 6/1
Bitcoin 5.25 (down ~3%)
Gold 1613 (down ~5%)
BTC still isn't up . Gold still hasn't collapsed. BTC is slightly outperforming gold.
AAPL 567 (only one week to go)
lol, the cherry picker
Well seeing as how gold just had a itty bitty rise..
this thread was started 3/13
Bitcoin 5.40
Gold 1690.
today 6/1
Bitcoin 5.25 (down ~3%)
Gold 1613 (down ~5%)
BTC still isn't up . Gold still hasn't collapsed. BTC is slightly outperforming gold.
AAPL 567 (only one week to go)
this thread was started 3/13
Bitcoin 5.40
Gold 1690.
today 6/1
Bitcoin 5.25 (down ~3%)
Gold 1613 (down ~5%)
BTC still isn't up . Gold still hasn't collapsed. BTC is slightly outperforming gold.
AAPL 567 (only one week to go)
I really for the life of me can't understand how such price jumps or drops are possible. I mean WTF, who would be so stupid to just dump their assets and crash the price like that? I don't get it..
well, me for one. i put on a huge GLD short at $152.17
yes, you can put that one in the record too.
recorded!
You might regret this one
You cover yet??
I suspect I'll be playing it safe vis-a-vis PMs and get the phyzzz while I can.
what's this phyzzz you keep talking about?miscreanity's bastardization of 'physical' as in physical bullion in hand. I liked it.
So central banks will stand idly by as economies crumble, financial systems catastrophically fail, and riots or potentially civil wars break out?
Which route destroys the central banks sooner: crushing deflation into guaranteed chaos or continued inflation toward an indeterminate breaking point (after which crushing deflation ensues)? Both destroy banks, but the latter delays the inevitable for a longer period than the former. Banks will not be suicidal; they'll try to survive in any way they can.
I like analogies. Imagine you've decided to climb a 100m vertical cliff. From the top there's a gradual descent on the other side to ground level. Half-way up, you're exhausted. Do you:
- A. Keep climbing no matter what, hoping that your body doesn't give out before reaching the top or;
- B. Give up and let go, falling to your death
I would not rule out the possibility that those who have the capability would deploy their 'golden parachute' and save their own asses on a personal level. The people who would be making these kinds of decisions on behalf of the rest of us are probably, as a group, as capable as any of arranging such an option.
deflation is winning. the best they can hope for is "managed deflation".
So central banks will stand idly by as economies crumble, financial systems catastrophically fail, and riots or potentially civil wars break out?
Which route destroys the central banks sooner: crushing deflation into guaranteed chaos or continued inflation toward an indeterminate breaking point (after which crushing deflation ensues)? Both destroy banks, but the latter delays the inevitable for a longer period than the former. Banks will not be suicidal; they'll try to survive in any way they can.
I like analogies. Imagine you've decided to climb a 100m vertical cliff. From the top there's a gradual descent on the other side to ground level. Half-way up, you're exhausted. Do you:
- A. Keep climbing no matter what, hoping that your body doesn't give out before reaching the top or;
- B. Give up and let go, falling to your death
I would not rule out the possibility that those who have the capability would deploy their 'golden parachute' and save their own asses on a personal level. The people who would be making these kinds of decisions on behalf of the rest of us are probably, as a group, as capable as any of arranging such an option.
Kaboom:
What an insane market this is.
What an insane market this is.
Godamnit! I only had days to go before wanting the do that USD->PM conversion. I figured I would not be so lucky. Maybe we could get just one more stomach churning plunge in PM's.
I had expected the USDX to need to drop more to produce an upward move in PM's at this scale. As I look just now, it's only dropped to 82.70. A lot of gold bugs might be very happy indeed when it gets back down into the mid 70's. Unless they, like I, wish to do some more accumulation that is.
oh, you'll get your chance. just make sure this isn't deflation we've entered into. might want to wait until its triple digits again.
I suspect I'll be playing it safe vis-a-vis PMs and get the phyzzz while I can. I may go ahead and sit on a little more cash than I would ordinarily as a hedge against deflation (and with the hope that it impacts valuations more or less as classical theory indicates...)
what's this phyzzz you keep talking about?
Kaboom:
What an insane market this is.
What an insane market this is.
Godamnit! I only had days to go before wanting the do that USD->PM conversion. I figured I would not be so lucky. Maybe we could get just one more stomach churning plunge in PM's.
I had expected the USDX to need to drop more to produce an upward move in PM's at this scale. As I look just now, it's only dropped to 82.70. A lot of gold bugs might be very happy indeed when it gets back down into the mid 70's. Unless they, like I, wish to do some more accumulation that is.
oh, you'll get your chance. just make sure this isn't deflation we've entered into. might want to wait until its triple digits again.
I suspect I'll be playing it safe vis-a-vis PMs and get the phyzzz while I can. I may go ahead and sit on a little more cash than I would ordinarily as a hedge against deflation (and with the hope that it impacts valuations more or less as classical theory indicates...)
Kaboom:
What an insane market this is.
What an insane market this is.
Godamnit! I only had days to go before wanting the do that USD->PM conversion. I figured I would not be so lucky. Maybe we could get just one more stomach churning plunge in PM's.
I had expected the USDX to need to drop more to produce an upward move in PM's at this scale. As I look just now, it's only dropped to 82.70. A lot of gold bugs might be very happy indeed when it gets back down into the mid 70's. Unless they, like I, wish to do some more accumulation that is.
oh, you'll get your chance. just make sure this isn't deflation we've entered into. might want to wait until its triple digits again.
Kaboom:
What an insane market this is.
What an insane market this is.
Godamnit! I only had days to go before wanting the do that USD->PM conversion. I figured I would not be so lucky. Maybe we could get just one more stomach churning plunge in PM's.
I had expected the USDX to need to drop more to produce an upward move in PM's at this scale. As I look just now, it's only dropped to 82.70. A lot of gold bugs might be very happy indeed when it gets back down into the mid 70's. Unless they, like I, wish to do some more accumulation that is.
SLW leading things back down.
Marc Faber is a local here in the place I used to live, Chaing Mai Thailand. He loves his gold, girls and beer:)
hahaha. yeah, he admits freely to that! ah, to be young again! oh wait...
3 weekly hammer in a row for PMs seems a bit more likely after that spike.
What conclusion should be drawn from back to back reversal candles?
What conclusion should be drawn from back to back reversal candles?
nothing
So it doesn't strengthen or weaken the reversal signal in your opinion? We continue to wait for a confirmation candle then...
In my mind the more times that 26.xx level in Silver and the 1520 level in gold is defended, the better the chance of a reversal, but I dont have a good reason for that. You could use the same logic to say that we have hit resistance at the 29 level in silver and the 1600 level in gold...
but you know i'm a cycles man.
3 weekly hammer in a row for PMs seems a bit more likely after that spike.
What conclusion should be drawn from back to back reversal candles?
What conclusion should be drawn from back to back reversal candles?
nothing
So it doesn't strengthen or weaken the reversal signal in your opinion? We continue to wait for a confirmation candle then...
In my mind the more times that 26.xx level in Silver and the 1520 level in gold is defended, the better the chance of a reversal, but I dont have a good reason for that. You could use the same logic to say that we have hit resistance at the 29 level in silver and the 1600 level in gold...
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