The Gold and Silver Thread

[Toro]

No offense but with the asset markets apeshit crazy isn't this the time to pull in horns and concentrate on not losing your ass?

I'm about 80% cash right now. This is a quick trade. Plus, if things are going to go haywire, they are more likely to do so on the downside than the upside.

I certainly agree with that last part but I am of the opinion that flight to safety is likely to mean higher values for Gold and USD, obviously you do not share that opinion could you tell me why? I do not like unpleasant surprises from data I overlooked and it sounds like you may have data that I did overlook.

Well, a flight to safety might mean a flight to gold, I don't know. If its a currency crisis, then you might see a flight to gold. But silver just got whacked, falling 35% a few months ago. That worries me. But I might change my mind and go long gold tomorrow, I don't know.

 

[Toro]

I changed my mind and covered my gold short for a small loss. But I also covered all my hedges, which were profitable, and now have a slight long on stocks.

 

[KissMy]

I have been in Gold, Corn & Cash since May 19th. I have stayed away from silver.

I own physical Gold which performs better than stocks such as Cameco that has & will continue to get hit as the world backs away from Nuclear Energy after Japan's meltdown.

We are just 28 days away from the Fed extending QE2 or starting QE3.

I have stayed long Gold, Corn & Cash since May 19th despite the rest of the commodities falling. Corn is going to set a new price record!

 

[Toro]

Monetary policy and rebalancing: Read this speech, then sell the dollar | The Economist

 

[Zander]

Monetary policy and rebalancing: Read this speech, then sell the dollar | The Economist

I am going long the dollar starting.....NOW!!!

 

[Toro]

Monetary policy and rebalancing: Read this speech, then sell the dollar | The Economist

I am going long the dollar starting.....NOW!!!

FTR The Economist predicts $5 oil in 1999!

Drowning in oil | The Economist
The next shock? | The Economist

 

[KissMy]

Monetary policy and rebalancing: Read this speech, then sell the dollar | The Economist

I am going long the dollar starting.....NOW!!!

Well it looks like the markets are going to actually be forced to call the Fed's bluff. An all cash position for the next week may be a good idea. Markets are going to drop until the government gives in.

 

[Truthmatters]

George Soros sells his gold - Telegraph

 

[KissMy]

George Soros sells his gold - Telegraph

This is months old dude. Everyone knows this. The Fed is testing the waters & it is going to get egg on its face. I am not taking a hit on this. I am going to cash.

 

[Toro]

Gee, maybe I covered too soon.

 

[KissMy]

The PPT will make sure the DOW does not close in the $11K range it is in today. They can't have that number in print all weekend. It will close over $12K today for sure.

 

[KissMy]

WOW! - They let the DOW close at $11,951.91 for the weekend headline. I can't believe they let that happen. It looked like the PPT jumped in twice between 2:00 & 3:00 & knocked the DOW way up to $12k. This is a shock. Are they really not going to rescue this market? 6 straight weeks of falling indexes, stocks & jobs. It looks like they are going to let a crisis happen to justify another rescue & perhaps shake people out of commodities in the process.

 

[KissMy]

Wow Gold is hanging in there & up a bit even as stocks & oil tumble. Gold has actually become a safe-haven for the risk off trader.

 

[Trajan]

Monetary policy and rebalancing: Read this speech, then sell the dollar | The Economist

I am going long the dollar starting.....NOW!!!

Oh so you watched the vid I posted? he was speaking of 15-18 months...but yo go ahead and park that big fella....

 

[Toro]

Wow Gold is hanging in there & up a bit even as stocks & oil tumble. Gold has actually become a safe-haven for the risk off trader.

I bought some gold about a week ago but my discipline forced me to blow it out off the open this morning at a loss

That's the story of my year. I'm have an awful year, down ~9% and getting chopped up in a trendless market. I'm dying a death of a thousand cuts as every time it looks like things start to go, they reverse violently, as gold did yesterday. I'm sure 90% of my trades have been wrong this year.

I looked at shorting silver earlier today, and should have. That probably means silver is going up next week!

 

[KissMy]

Wow Gold is hanging in there & up a bit even as stocks & oil tumble. Gold has actually become a safe-haven for the risk off trader.

I bought some gold about a week ago but my discipline forced me to blow it out off the open this morning at a loss

That's the story of my year. I'm have an awful year, down ~9% and getting chopped up in a trendless market. I'm dying a death of a thousand cuts as every time it looks like things start to go, they reverse violently, as gold did yesterday. I'm sure 90% of my trades have been wrong this year.

I looked at shorting silver earlier today, and should have. That probably means silver is going up next week!

I got my ass handed to me this week also. I have been short the GLD to offset the physical gold in my safe. I had this short on all the way up until just prior to market open on the day Bernanke ran his mouth. I got tired of watching my short lose my cash so I covered thinking maybe I was wrong. This left all the gold in my safe exposed. Gold shot up over $10 after I covered so I was feeling good when I left for the day. The next day I saw the price & went OMG!!! Then I was thinking I needed to wait for the last huge trade to clear before I shorted again so after that big drop I waited for a bounce to short again. Needless to say I waffled & still did not get my short back on. I wound up on the wrong side up & down. I am pissed.

 

[william the wie]

Wow Gold is hanging in there & up a bit even as stocks & oil tumble. Gold has actually become a safe-haven for the risk off trader.

I bought some gold about a week ago but my discipline forced me to blow it out off the open this morning at a loss

That's the story of my year. I'm have an awful year, down ~9% and getting chopped up in a trendless market. I'm dying a death of a thousand cuts as every time it looks like things start to go, they reverse violently, as gold did yesterday. I'm sure 90% of my trades have been wrong this year.

I looked at shorting silver earlier today, and should have. That probably means silver is going up next week!

try some 6-12 month black swan hedges with that strategy I discussed with you it may not be as profitable as what you are currently doing but with less stress. Not including the medical treatment costs for the stress on your P&L is a major error of personal accounting.

 

[Zander]

I am sitting tight- I liquidated the long bonds at 4.15 after a quick 10% gain since February. I do have a small position in Vanguards Healthcare Fund- but other than that, I am sitting in cash and short term treasuries.

 

[Toro]

I am sitting tight- I liquidated the long bonds at 4.15 after a quick 10% gain since February. I do have a small position in Vanguards Healthcare Fund- but other than that, I am sitting in cash and short term treasuries.

I'd have done better if I took your advice at the beginning of the year.

 

[Zander]

I am sitting tight- I liquidated the long bonds at 4.15 after a quick 10% gain since February. I do have a small position in Vanguards Healthcare Fund- but other than that, I am sitting in cash and short term treasuries.

I'd have done better if I took your advice at the beginning of the year.

You are too kind. I'd trust you with my money in a second Toro. You're just going through a rough patch. Trading is difficult, frustrating, and often gut wrenching. That is why Buy and Hold (or is it buy and pray?) is so popular.