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mad_doctor
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« on: September 03, 2009, 11:48:11 AM » |
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... notice the rally in precious metals? Analysts are predicting a breakout any week now. They're predicting gold to hit $1200 - $1300 and silver to hit $20 - $25. Platinum, and palladium are expected to be included in the rally, but are less subject to manipulation by the Cartel, so there are different forces at work - who knows where they'll end up?
What do your foracular powers tell you?
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prytania3
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« Reply #1 on: September 03, 2009, 12:59:55 PM » |
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Well, it might go that high, but I think the Fed is going to have to come in and do something about the dollar.
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Clowns, I tell you. Clowns.
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mad_doctor
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« Reply #2 on: September 03, 2009, 02:36:14 PM » |
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So, what are you thinking? Will the Central Bank start selling off its reserves to pay for all the currency they're printing? I'm thinking they may have already reached their limit on that strategy.
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prytania3
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« Reply #3 on: September 03, 2009, 04:54:22 PM » |
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Raise rates?
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Clowns, I tell you. Clowns.
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mad_doctor
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« Reply #4 on: September 03, 2009, 09:33:55 PM » |
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That will do something about the dollar, alright. Perhaps I misunderstood your first intent... when you said the Fed needs to "do something about the dollar", you were talking about strengthening the dollar to obviate a safe-haven gold rush, or strengthening the dollar to keep it from going down the cr@pper?
The only strategy I see that will strengthen the dollar in all this mess is to roll back a few trillion of the spending they just approved. You don't think that raising rates in this market will only make things worse?
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mad_doctor
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« Reply #5 on: September 04, 2009, 12:14:39 PM » |
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The rally continues, after a down start for the trading day. The analysts predict that the prices are now experiencing some "downward pressure" from an invisible ceiling. Breaking the ceiling is a little like breaking the sound barrier - once they break through there is no more "downward pressure" and a sustained rally is possible.
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prytania3
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« Reply #6 on: September 04, 2009, 04:54:57 PM » |
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We'll see. I like to see things break resistance in cases like this, but I still think buying gold at these prices is risky business.
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Clowns, I tell you. Clowns.
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mad_doctor
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« Reply #7 on: September 04, 2009, 05:41:40 PM » |
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Aahh risk, schmisk... there's no such thing as a sure thing. Be diligent, do your research, and follow your heart... and don't forget to keep a close eye on the ticker afterwards...
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prytania3
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« Reply #8 on: September 04, 2009, 07:22:37 PM » |
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Only one problem: I have no interest in gold *at all.*
I still think going long the dollar is going to be the 2010 play.
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Clowns, I tell you. Clowns.
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parispundit
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« Reply #9 on: September 05, 2009, 02:34:34 PM » |
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Why should the Fed care how much gold a dollar will buy? Gold is no one's currency. As long as the exchange rates that matter are steady, the Fed will yawn.
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mad_doctor
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« Reply #10 on: September 05, 2009, 02:56:56 PM » |
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Why should the Fed care how much gold a dollar will buy? Gold is no one's currency. As long as the exchange rates that matter are steady, the Fed will yawn.
True, in one sense gold is nobody's currency, but in another sense, to quote a wise man, gold is the king of all currencies. If the Fed doesn't care about gold, why do they hoard it and manipulate its price? Why do people buy it when they fear a weak currency? IMHO, I think the Fed may be very concerned, as they were during the Great Depression, that people may start using gold as a "substitute currency", which is why they outlawed private ownership of gold. |
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prytania3
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« Reply #11 on: September 05, 2009, 05:19:44 PM » |
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And that little bit of history is always hung on Nixon. I realize he officially took us off the gold standard, but it was dead in the water by then, anyway.
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Clowns, I tell you. Clowns.
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mad_doctor
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« Reply #12 on: September 30, 2009, 03:03:40 PM » |
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After a brief sell-off last week following ginned-up economic news, metals have recovered. The break-out seems to be holding well. Gold is around 1005 - 1010, silver is around 16.60, palladium and platinum are following suit.
So, you're still thinking the market will break around Nov. 1? I have no reason either to doubt or support that, but based on fundamentals and dynamics I still believe the market will break downward in a major way some time this fall.
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prytania3
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« Reply #13 on: September 30, 2009, 05:46:12 PM » |
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After a brief sell-off last week following ginned-up economic news, metals have recovered. The break-out seems to be holding well. Gold is around 1005 - 1010, silver is around 16.60, palladium and platinum are following suit.
So, you're still thinking the market will break around Nov. 1? I have no reason either to doubt or support that, but based on fundamentals and dynamics I still believe the market will break downward in a major way some time this fall.
I'm out of the market right now as I owe the IRS a boatload of money, and I haven't been paying *that* much attention. I glanced at the charts and it looks like the market is going to go down a bit, but I think it'll hit over 10K before it goes down a lot and if it goes down a lot. The PPT will continue pumping I think. I am keeping my eye peeled for any Hindenburg omens, though. Not that they are all that definitive, but in this environment, if one appeared, it would be creepy. Sorry I can't be more specific, but I don't feel well tonight. |
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« Last Edit: September 30, 2009, 05:46:30 PM by prytania3 »
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Clowns, I tell you. Clowns.
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mad_doctor
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« Reply #14 on: November 03, 2009, 01:33:22 PM » |
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Gold's over $1080 today on a buying spree by India. If China joins the spree it could hit $1200 almost overnight. The Dollar continues to decline.
LMAO at the President's so-called "economic advisors" talking about their plans to increase exports, as if exports wouldn't go up all on their own when the Dollar declines. It's like one of us "planning" not to use our credit cards when they get canceled by the card company.
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