23 replies to this topic

[SevenOfEleven]

He is a [edited by moderator]. I hope the dollar fries him.

scott

Harsh and uncalled for unless pro-choice has some link to gold that I'm unaware of and even then a better choice of words can be used to express such an opinion and it's a discussion that just doesn't belong here.

[TechSkeptic]

I agree that abortion discussion is inflammatory and off-topic. Aside from that, there is also the question of whether it is unpatriotic to short one's national currency (or one's country's stock market for that matter). In my opinion, a legal (non-naked) short, like any other legal type of trading, is neither patriotic nor unpatriotic. It's simply trading. Every open short position must eventually be covered, and is therefore a source of support to the market. I am certain that Mr. Buffett has the resources to cover his dollar shorts, whether he gains or loses, so I see nothing wrong with it, per se. (On the other hand, if it's true that he's front-running his trades to the unsuspecting public to deliberately move the market in his favor, that's another matter entirely, which if not illegal, is certainly unethical.) For that matter, one could argue that bidding up stocks to the point of being in a bubble is unpatriotic because of the ensuing crash risk. However, again I would say that this is simply trading. Just my 2c, TechSkeptic

[TomD]

Mixing patriotism and trading is hilarious since trading is the most non-productuve self-centered way of making money i don't know how many gold sites have articles where the authours yak about how great islamic fundamentalist are ... then you have kudlow et al saying to buy stock as a patiotic duty now more to the point does anyone recall how many tons the producer bought last year in covering their hedges?

[SevenOfEleven]

now more to the point does anyone recall how many tons the producer bought last year in covering their hedges?

What'rya trying to do, get back on topic or something? The nerve!

[skott]

hey all you that were buying the gold stocks..... still holding on? scott

[mss]

HUI never met my points as posted above, and repeated yesterday on the FF board.

[SevenOfEleven]

hey all you that were buying the gold stocks..... still holding on?

scott

I entered 50% long last Friday on physical (I usually play physical rather than stocks) because we're right about in the middle of a 20wk cycle but dumped at break even Tuesday because I wasn't comfortable wholesale bid dropping and, I've been watching a large divergence on the monthly dollar chart that I feel made it a kind of risky entry point to begin with. Figured I'd rather wait for a better entry than lose sleep over the next 10wks waiting to see if the cycle pans out or is overtaken by larger cyclical activity.

Sitting on 33% Palladium since 200 (paid a 25/oz dollar premi so really I'm sitting at 225) and very pleased with it.

-Seven

[PMILLY]

skott, I am still waiting and indicated that my entry point depended on my indicators. I never got a buy, and now the charts look bad on the decline this morning. Still on the sidelines trying to be patient for a good set up either way. Pmilly

[stockbucks_coffee]

bought back the 4 SA stocks yesterday. expected the 2 day pullback to be over and get a rally today But sold 4 silver stocks this morning as the xau/hui fell but held on to the 6 gold stocks. currently up to 2/3 of the profit i have since buying last wednesday. will see how the day is before closing it out if no more up movement.

[rono]

Howdy all, Another novice but have been playing the metals for quite a while and collecting coins for almost 50 years. As a qualifier, I'm not much of a technician, but more of a fundamentalist by nature. As for investing strategy, I'm basically a momentum investor in the mold of Gary whom I've known from the internet for years. Throughout this entire bull run in gold, I've been pariticapting - gleefully - but have continued to focus my attention on silver and the other metals in lieu of gold. Yeah, I've played and will continue to play gold, but see the serious upside action in silver, etc. For those of us that lived thru capitalized on the great bull of the late 70's, you will recall that gold topped around 800 and silver around 50. Note the ratio of 16/1. Well, not 6 months ago, the ratio was 80/1 and right now it's 56/1 and dropping like a hot rock. Historically, at least for the known history of mankind, the ratio has been 15-20/1. With this knowledge in hand, I've been playing the sector since it started to move. And it's been fun [read: profitable in a multiple orgasmic way]. BUT, when and where I could, I've sought out silver plays and funds that were diversified precious metals funds - rather than pure play gold. Over the past couple of years, whenever I had stock double up, I bled the profits and put them in long term blue chip dividend payers. I've since changed my tactics a bit and want to ride my winners longer. Anyway, last week I passed 100% on my CDE and doubled up. This week I've tripled up on a small play in WHT. My stock leaders, in order, are CDE (silver), SRLM (silver), SWC (platinum), PAAS (silver), MNMM (mixed), WHT (mixed gold, silver, copper). I still own a bit of rydex RYPMX, but very little. MY only gold stock is DROOY. I also have positions in copper FCX and iron RIO. I see the dollar as continuing to drop, and the POG tied hand and foot. The recent strength in the dollar is due to intervention and is spitting into the wind of fundamentals [read: deficit, private debt, money supply, trade balance]. The attractive places for money right now are commodities, emerging mkt countries that export commodities, some blue chip dividend players, particularly in a taxable account, non-gold precious metal miners, asia, and cash. Otherwise, the risk simply outweighs the potential gain. best, rono