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Go for broke time!!


Forrest Gump 9

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At the right time yet. I'm waiting for it to hit $299.

 

Yeh, I'd be a player at that too.

 

 

I actually don't HATE buying gold right now. Maybe I put too much into your thread title. "Go for broke time"

 

IF I were to buy Gold right now... I would probably think about Dollar Cost Averaging into it.

 

 

 

Edit: You can personally thank me for killing the precious metals market. I bought some coins and bullion a couple weeks ago. I typically stay out of that kind of investment, but I came across an unbelievable deal (especially on the silver). So OFCOARSE those markets would take a beat down soon after I dive in. It's like washing your car.... right before a surprise thunderstorm

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A little of both depending on the timing. You guys are putting doubts in me, but I'm still sticking with my gun. I'll bail if gold hit $999.

 

Im not hatin, ive always been a gold bear. I just dont understand how you can say 1700 is a good buy and 999 is your bail point. Sounds like you should be selling now. My theory is gold ran up to 1900 on reports of unlimited QE with that winding down gold should start to find a settling point. Hedge funds are unloading as fast as possible and yesterday was the largest drop ever, I dont see that as a positive or a buying opp. Inflation in general turned out to not be as bad as people first thought just like the debt ceiling. This is just my opinion though, I do not trade or hold gold at all.

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I would never buy gold, but I am pretty sure it has more room to fall, at least to the $1200 support level if not further.

 

http://finance.yahoo.com/news/gold-slide-flashes-warning-signs-061741392.html

 

So how fucked are we? I did a quick read on this article and it sounds like shit might be getting ugly again.

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Call me silly but if the shit really does hit the fan what is gold going to do for you. Seems to me that a useful skill or trade would be more beneficial in a situation like that. Skills like setting the points and dwell on a non electronic ignition or rebuilding and tuning a carburetor may come in handy. Also might be a good idea to obtain the materials to make a nice size steam engine, if the grid were to go down you can always make your own electricity by burning some wood and boiling some water.
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http://finance.yahoo.com/news/gold-slide-flashes-warning-signs-061741392.html

 

So how fucked are we? I did a quick read on this article and it sounds like shit might be getting ugly again.

 

I feel good about the equities markets. With the possibility of having to look at deflation this year along with unemployment staying up the Fed will continue buying up long term debt and prop the equities markets up.

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Call me silly but if the shit really does hit the fan what is gold going to do for you. Seems to me that a useful skill or trade would be more beneficial in a situation like that. Skills like setting the points and dwell on a non electronic ignition or rebuilding and tuning a carburetor may come in handy. Also might be a good idea to obtain the materials to make a nice size steam engine, if the grid were to go down you can always make your own electricity by burning some wood and boiling some water.

 

If shit hit he fan, do you think your paper money or credit cards worth anything. I'm not looking that far ahead, since I'm not one to try to survive the "shit hit the fan", but I'll take my chance with my golds. At least it is a universal currency so you can barter with people if needed.

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If shit hit he fan, do you think your paper money or credit cards worth anything. I'm not looking that far ahead, since I'm not one to try to survive the "shit hit the fan", but I'll take my chance with my golds. At least it is a universal currency so you can barter with people if needed.

 

Well no I dont think paper money or credit cards will be any good but I also dont see how gold will help. i.e. if you need some help from me and you offer me gold to pay for my services what good is that to me, it cant put food on my table, it cant provide warmth or shelter for my family unless there are others willing to trade my gold for their services but thats a gamble of my time and energy which in a situation like that I will most likely be trying to preserve.

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http://finance.yahoo.com/news/gold-slide-flashes-warning-signs-061741392.html

 

So how fucked are we? I did a quick read on this article and it sounds like shit might be getting ugly again.

 

English is my second language so my comprehension is not as good as you guys, but after reading that article solidified my faith in gold. If the stock market takes a dump tomorrow, gold goes up. If a war breaks out, gold goes up.

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This should help you sleep at night

 

http://skoptionstrading.squarespace.com/storage/short%20intraday%20long%20overnight%20vs%20gold.jpg?__SQUARESPACE_CACHEVERSION=1326600787282

 

"Back in August 2010, we presented an idea proposed by our friends at SK Options trading for a very simple trading strategy: being long gold in the overnight session, and shorting it during the day. At the time of writing, such a strategy would have returned $2.16 billion from a $100 million initial investment in 10 years, a 37.46% annualized return. Today, we provide a much needed follow up to this quite stunning divergence. As SK notes: "we have revisited the article and written an update. Not only does the discrepancy still exist but it has been actually increasing. That fund would now be worth $5.26B, way up from $2.16B when we last wrote about it - in other words an increase of 143% in just over a year. When we wrote about this in August 2010, the annualized return of the Long Overnight/Short Intraday gold index was 37.46% since the start of 2001. However if we measure from now the annualized return since 2001 is 43.24%, with the annualized return of the Long Overnight/Short Intraday gold index standing at roughly 64.4% since 2009." So for those who wish to layer on an additional alpha buffer on top of what is already the best performing asset of the past decade, the SK Options way just may be the strategy. As for the reasons for this gross arbitrage - who cares. Is it manipulation? is it the early Asian buying offset by London pool selling? It is largely irrelvant - the point is that this is "the divergence that keeps on giving" - kinda like a Stolper trade, or an inverse Tilson ETF, and until it doesn't, or until something dramatically changes in the precious metal market, it is likely that this trading pattern will continue for a long time."

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