62 replies to this topic

[tria]

Sold 1/4th of my Gold and Silver position @ $1203.80 & $16.41 respectively. Money management decision. The rest will go most probably near the end of next week. -tria

[tria]

Sold 1/4th of my Gold and Silver position @ $1203.80 & $16.41 respectively.
Money management decision.

The rest will go most probably near the end of next week.

-tria

Add that some elementary and quick EW counting on my part (that may or may not be correct) suggests a small pull back.

-tria

[tria]

Initial indications (and I emphasize the word initial) suggest more strength next week/towards the end of June. BTW, Monday evening/night (GMT hours) may prove very important for any compromised resolution to the Grexit saga No 4. Have a pleasant weekend, -tria

[dasein]

Greece also produces Gold and has very skilled jewelry makers - with a low markup if you buy there. Like HK, Thai etc you buy 22--24K. georgeous stuff. Honey has gotten expensive, greek yogurt is made in all countries so it isnt really a direct export. Olive oil is teriffic - Kalamata - more robust than N Italian ones IMO. dried fruit/fish, Greek wine, pistacios? ships? they export a lot of labor too.

[tria]

[quote name='dasein' date='Jun 19 2015, 09:02 PM' post='723939']
Greece also produces Gold and has very skilled jewelry makers - with a low markup if you buy there. Like HK, Thai etc you buy 22--24K. georgeous stuff.

Honey has gotten expensive, greek yogurt is made in all countries so it isnt really a direct export. Olive oil is teriffic - Kalamata - more robust than N Italian ones IMO. dried fruit/fish, Greek wine, pistacios? ships?

they export a lot of labor too.
[/quote
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Greece also exports a lot of Greek Brain Power. Find me an Ivy League University in the US or in Europe without the presence of top Greek Professors or Researchers and you get a bag of pistacios from me.

Famous Pistacios from the island of Aigina, not enough production even to satisfy the local mkt as far as I know.

Fresh fish, not enough to meet local demand, especially during the 9 month high tourist season.
Frozen fish from Fisheries, yes plenty.

Gold and very skilled jewelry makers, yes plenty.

The best honey in Greece comes from “Thyme” (Thimari in Greek), by far the best honey in the world and a favorite among honey connoisseurs. Expensive yes but worth dying for.
Combined with Greek yogurt that sells like mad in Germany and in the UK is a nice and healthy breakfast to start your day.

-tria

Edited by tria, 19 June 2015 - 01:57 PM.

[punter]

Thanks Dasein, Tria, for the interesting ideas! Sounds very much like the biblical land of milk and honey. One wonder how Greece got stuck in such a mess. Tria - your gold strategy mainly based on EW? Does you strategy tell you that the bounce is temporary? have a good weekend, cheers.

Edited by punter, 20 June 2015 - 02:51 AM.

[punter]

Greece also produces Gold and has very skilled jewelry makers - with a low markup if you buy there. Like HK, Thai etc you buy 22--24K. georgeous stuff.

Ah... you certainly know the region. Asians like pure gold, unlike the 14 or 18k jewellery found in western markets. I am surprise greece deals with 24k jewellery. thanks for sharing.

[tria]

Thanks Dasein, Tria, for the interesting ideas! Sounds very much like the biblical land of milk and honey. One wonder how Greece got stuck in such a mess.


Tria - your gold strategy mainly based on EW? Does you strategy tell you that the bounce is temporary? have a good weekend, cheers.

Punter,

Many reasons.

The Greek society
Greece got stuck in this mess by being a paying mainly with cash society into being a paying with credit on borrowed money when we joined the Eurozone and interest rates dropped dramatically and cheap loans were offered to the country by the Eurozone and to the population by the banks. My credit cards limits from the Banks were raising my limit about 3 times per annum and were given to me even without asking for them. I had Euro 150,000 credit available within 5 years just from credit cards. Consumer loans were given as well to buy a flat, to buy cars, to go on holiday, to refurbish your house, to get married or to pay for your children education etc., without any serious due diligence from the Banks. Even prostitudes or junkies were getting credit cards or home loans. The Banks were almost begging us to get preapproved loans, no questions asked. This is the reason the population has defalted on many loans.

Now about the country.
Huge military spendind (about 200 Billions) due to our everlasting differences with our "friendly" neighbour, Turkey as an excuse, and the huge associated bribes payed to many corrupt politicians and political parties to get the lucrative and overcharged contracts from the German, French, Russian and US military manufacturers. Greece for example paid twice as much for a submarine than Portugal paid. One Defence Minister has been in jail for the last 3 years and hope he stays there for a long time. I hope many more will be charged for their crimes against their country.
Excessive power by the trade unions demanding and getting fat salaries (since the politicians were eating "fat" as well) and in general big problems with bribes, corruption and bureaucracy.
The cost of organizing the Olympic games in 2004 as usual, was twice as originally planned, thanks to the excessive security demands by the International Olympic Committee (due to terrorist scare attacks although we never had one) and the associated overcharging and bribes for the facilities to be ready on time.
I could go on and on but I gave you a general idea.

My Gold strategy is a balancing act (I am a Libra) of many indicators and when the scale tips a lot to one side, I make up my mind. EW counting plays a very small part in this process and mainly use it for ST decision making.

Pls note that although I studied Naval Architecture and Marine Engineering in the UK and in the US, I never practiced it, apart from when doing my compulsory 32-months military service (thanks to the Cyprus-Turkey crisis at the time). Whilst waiting for an opportunity to buy a ship with a friend, I decided to park my depreciating $$$ in Gold. That was the beginning of my love affair with trading and became interested in technical analysis, since I hate gambling.

-tria

[tria]

Punter, Should add, it is very easy to say long term Gold will go up, as easy as that one day I will be gone for ever. Probably not temporary but with many ups and downs. I think 2016/2017-2020 could be for investing. For now I prefer to trade it, stay flexible and be ready to change my mind at any time. -tria

[punter]

Punter,

Should add, it is very easy to say long term Gold will go up, as easy as that one day I will be gone for ever. Probably not temporary but with many ups and downs. I think 2016/2017-2020 could be for investing. For now I prefer to trade it, stay flexible and be ready to change my mind at any time.

-tria

Thanks for sharing your thoughts. I hope your country will come out of the crisis stronger. It happened to my region 3-4 times over the last half century for various reasons. But each time, the affected countries bounced back stronger and wiser. Guess we can only learn from pain and mistakes.

I observed your trading decisions and thought you might be operating on both short and longer term analysis. Just one system trader (me) pinging another system trader (you) .

I also used deviation approach but probably on different type of market data. interesting that we can often arrive at the same decisions. Agree with the long term view on gold.

cheers.