294 replies to this topic

[gismeu]

Hi, it seems to me that when it looks like a Greek 'positive' solution is achieved (i.e. no default), PMs are up and when a solution is in jeapardy, then PMs are down. To me that is confusing! I would have thought if Greece defaults, then PMs would go up. Where am I wrong in my thinking? Thanks, gis

[johngeorge]

gismeu "it seems to me that when it looks like a Greek 'positive' solution is achieved (i.e. no default), PMs are up and when a solution is in jeapardy, then PMs are down. To me that is confusing! I would have thought if Greece defaults, then PMs would go up. Where am I wrong in my thinking?" My understanding is that when the Greece solution is in jeopardy the need for instant liquidity arises. Since gold is the most liquid asset it is sold. Hope that makes some sense in this crazy world. Best to you.

[tria]

Hi,

it seems to me that when it looks like a Greek 'positive' solution is achieved (i.e. no default),
PMs are up and when a solution is in jeapardy, then PMs are down.

To me that is confusing! I would have thought if Greece defaults,
then PMs would go up.

Where am I wrong in my thinking?

Thanks, gis

Hi gismeu,

It is the Euro falling, if my Country defaults, that hinders the PMs prices from rising in USD terms, in the short run.

-tria

[dharma]

the market is the ultimate price decider. my 2c - if greece defaults , alot of banks are going to be in trouble- which will be gold bullish-maybe not @1st. if the settlement is reached it means they printed the money- gold bullish. maybe its the glasses that i am wearing the gdx down 8 straight days, causing very little price damage. ganns 7-10 day rule has made me $$$over the years. its a good one to have in your bag of tricks. i have action the next 4market days, i will not pretend to know how it shakes out. the market does look pretty sold out to me. i realize that fiats are assets, however i dont want to stock up on them. so when gold/silver/miners go on sale , i add. lets see how this shakes out dharma

[tria]

the market is the ultimate price decider.
my 2c - if greece defaults , alot of banks are going to be in trouble- which will be gold bullish-maybe not @1st. if the settlement is reached it means they printed the money- gold bullish. maybe its the glasses that i am wearing

the gdx down 8 straight days, causing very little price damage. ganns 7-10 day rule has made me $$$over the years. its a good one to have in your bag of tricks. i have action the next 4market days, i will not pretend to know how it shakes out. the market does look pretty sold out to me. i realize that fiats are assets, however i dont want to stock up on them. so when gold/silver/miners go on sale , i add.
lets see how this shakes out
dharma

dharma:

SLV has 41K Feb 33 calls outstanding
GLD has 22K Feb 170 calls outstanding

These are big numbers and I think the corresponding price levels of $34.00 in Silver and $1,750 in Gold will be vigorously defended up to this Friday’s options expiration.
Leasing rates for Silver are approaching the danger level and SLV volume put/call ratio is at a dangerous level.
On the other hand everybody and their mother are waiting to buy Gold near 1,692-1685. It could/will happen but when is the question.

-tria

[dougie]

IMO it is not about Greece per se it is about spain and Italy If Greece can get massive write offs, the others will line up and the printing presses need to roll greece defaulting is the path to deflation

[dharma]

the market is the ultimate price decider.
my 2c - if greece defaults , alot of banks are going to be in trouble- which will be gold bullish-maybe not @1st. if the settlement is reached it means they printed the money- gold bullish. maybe its the glasses that i am wearing

the gdx down 8 straight days, causing very little price damage. ganns 7-10 day rule has made me $$$over the years. its a good one to have in your bag of tricks. i have action the next 4market days, i will not pretend to know how it shakes out. the market does look pretty sold out to me. i realize that fiats are assets, however i dont want to stock up on them. so when gold/silver/miners go on sale , i add.
lets see how this shakes out
dharma

dharma:

SLV has 41K Feb 33 calls outstanding
GLD has 22K Feb 170 calls outstanding

These are big numbers and I think the corresponding price levels of $34.00 in Silver and $1,750 in Gold will be vigorously defended up to this Friday’s options expiration.
Leasing rates for Silver are approaching the danger level and SLV volume put/call ratio is at a dangerous level.
On the other hand everybody and their mother are waiting to buy Gold near 1,692-1685. It could/will happen but when is the question.

-tria

hi tria, yes i am watching all that you mention. the silver lease rates are a warning, will all of those licking their chops @1680 be accommodated?
my mo remains the same, buy weakness. bull climb a wall of worry. my question is who is the leasing agent for the silver? no cbs, to my knowledge, have silver? the exchanges are leveraged beyond rationality? so who is leasing the silver
dharma

[tria]

Impasse in Athens. The latest rumor is that the austerity measures should be discussed and signed after the Greek elections. How Greece avoids an uncontrolled default in March, is being planned now. -tria unsure.gif

[dougie]

i hope they go the default route and soon MArch 16th?

[dharma]

i hope they go the default route and soon
MArch 16th?

why do you hope for that?
dharma