37 replies to this topic

[dharma]

i have enough evidence , that i bought this am and finished by 8:30mst. i believe that we finished wave a this am and we are in b here in bull markets surprises are on the upside and i didnt like being out of slw , it went down $3+and i bought it back along w/several juniors i am trading here and think the ultimate low comes in august. the ensuing rally could challenge the highs as there are many irons in the gold fire. just a heads up dharma from rr My advice now is to put as much of your money as you’re comfortable with in bullion coins. Remember the simple phrase that’s been around through years of history – “There’s no fever like gold fever.” Fiat money is doomed. Act on it. one more I just finished Gregory Zuckerman’s book ,The Greatest Trader Ever. It’s the story of John Paulson and the $45 billion he made on the housing collapse, with $4 billion personally. Here’s an interesting excerpt from the last part of the book: “What’s Paulson doing now? “Paulson made a simple calculation. A supply of dollars has expanded by 120% over several months. That surely would lead to a drop in its value and an eventual surge in inflation. “ ‘With all this spending, we’re going to have massive inflation, ‘ Paulson told Hoine, arguing that all the major currencies were at risk other than the Chinese yuan. “ ‘What’s the only asset that will hold value? It’s got to be gold.’ “Paulson acknowledged that his was a straightforward argument, but he paid the critics little heed and proceeded to buy more than $1 billion of shares of gold miners, or 12% of his largest fund. He also purchased billions of dollars of gold investments to back new classes of his funds denominated in gold, and chose these classes for his own money. Betting against the dollar would be his new trade. “ ‘I couldn’t be more confident,’ Paulson said in the summer of 2009. ‘Three or four years from now people will ask why they didn’t buy gold earlier. Over time our currency will lose value and inflation will rise – that’s our future.’ as for me i do think fiat will be destroyed. but i really dont know if its inflation/deflation. sovereign debt is the issue for me. the rest, the debate continues

Edited by dharma, 07 July 2010 - 11:30 AM.

[stubaby]

dharma: The Hulbert Gold Newsletter Sentiment Index (HGNSI) is now registering 9.2%! stubaby

[goldswinger]

dharma:

The Hulbert Gold Newsletter Sentiment Index (HGNSI) is now registering 9.2%!

stubaby

Capitulation sale this AM, we likely test the highs but at least a good fibo retrace from the bottom.....


GS.

[dougie]

cant hat index go negative. folks are bailing

[dharma]

i have not ruled out one more new low, but my preferred is we bottomed yesterday. if that is the case i am looking for a move to near the highs. then a larger correction dharma

[dharma]

ok looks like yesterday could have been a 2 and today we broke through the 1200 (1198)rfesistance and we will try the upside. i am trading and now have buckled up. ngd looked juicy near 5 so i added some. after it took a haircut. dharma

[stubaby]

ok looks like yesterday could have been a 2 and today we broke through the 1200 (1198)rfesistance and we will try the upside. i am trading and now have buckled up. ngd looked juicy near 5 so i added some. after it took a haircut.
dharma

dharma:

I decided to add to my strongest holdings only the past couple of days - NEM, BVN, & GSS - for this move.


stubaby

[stocks]

as for me i do think fiat will be destroyed. but i really dont know if its inflation/deflation. sovereign debt is the issue for me.
the rest, the debate continues

Zulauf and Mogey --

the primary trend is deflation
the 30 yr bond bull ends in 2-3 quarters
we will not see a repeat of the year-by-year inflationary 70's
a banking crisis will see a massive dollar devaluation via 'currency reform' in one fell swoop

Felix Zulauf

http://kingworldnews...lix_Zulauf.html

commodities will not see new highs
3rd quarter 2010 starts the dollar bear, gold bull, stock bear into 2012
bond market collapse 2011-2012
survival of USA put to the test 2012

Richard Mogey

http://www.marketora...ticle17575.html

[dougie]

"a banking crisis will see a massive dollar devaluation via 'currency reform' in one fell swoop" this deserves a separate thread to discuss as I have been hearing about this increasingly would sure catch gold traders flat footed how likely is it? could it happen without warning: ie bank holiday then announce? What would happen to miners in this scenario? would the state confiscate as well ala 1930's?

[dharma]

so much to worry about , so little time!
chris whalen on cnbc- this guy knows what he is talking about. a rare quality
http://www.cnbc.com/id/38106456
a good day. i am looking to lighten back up over the next couple of days
but, as always the market will be my guide
dharma