Dow up 416 as stocks have best day in five years

reply to post by HimWhoHathAnEar

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What an odd world you must live in where everyone who doesn't agree with you is "spewing venom" - you are extremely rude. Can you post just ONE thing where you don't insult me? Is it possible for you - do you need to do it that badly?

As I said, if you can sell before the sheeple go crazy and drive the price down, good for you. I'm doing it to, as I have been since the MSM started instilling panic in the sheep.

I'm wondering why the "sheeple" that bought Gold during the last [2001] recession didn't get "slaughtered Your insight would be appreciated.



I take it you mean crash as opposed to correction (intermediate-term top).

Could you be a little more specific?

"crash down soon" isn't very definitive for someone expecting to trade-out near the top. Your specific exit strategy aside, I'm interested in knowing your terminal top - bottom price objectives? Thanks

I ain't worried about a recession, I've lived through quite of few of them....we survived those, we'd survive one now.....I'm worried about something a tad bit worse....this one just doesn't feel like a recession.
I've noticed that there seems to be more big collections of gold and silver up for auctions on ebay....kind of gives me the impression that at least some seem to think that these commodities have reached their peak. they might be right, who knows. they might have been just forced to sell to cover their losses in the other markets.
I'm watching the stock market now with interest. how low will it all go? barring a total collaspe of the economy, I think there will (probably are now), some pretty good buys in there amongst the disasters. who knows maybe I'll jump in and play a little when I think it's hit it's bottom. I still have an IRA option at work that I haven't put to use. Didn't want to waste mine or my boss's money when I knew the stock's values were all overly inflated.

[edit on 16-3-2008 by dawnstar]

Commodities bull markets "peak" in a frenzied blow-off characterized by runaway gaps. The 1980 Gold chart (Jan) is the textbook example of a terminal super-spike...they're dramatic , violent, quick...we're not there.

A rate cut on Tuesday will be Gold positive, but I wouldn't get sucked-in here. I'd wait for the next decent pull-back. FWIW, I have a near-term price objective around 1,100 - 1,150, followed by a 16% correction.

I think ebay can be a good place to sell precious metals...expensive place to buy them. Occasionally I check pricing/availability for 1oz BU Gold Eagles, 100oz JM Silver, and 1oz Sunshine Mint Silver rounds...I think these items are a pretty good tell. The recent wave of ebay activity was millennium-itus. I notice that availability for the items I watch, particularly 1oz BU Eagles has thinned-out a bit. Folks are paying as much as $60 over spot for those puppies (including shipping) means more buyers than sellers. A good coin shop should offer a spread closer to $30.

reply to post by OBE1

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Im in gold and will be in gold till at least the end of this year. Im short the market also. I am with you on the near term gold but I think we will hit those levels in less than a month with a large chunk coming after the fed cuts the full point that wall street wants him to cut. Somewhere along the lines there will be a correction I dont know if at 1100 or not but there will be one. I think by the end of the year we will be sitting gold $1400 at least.

reply to post by pacificwind

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The DOW is a BIG casino with FIGURES and NO MONEY, where COMMODITIES are sold on an Illusion of Promises and the Conjobs play with DIGITAL FIGURES instead of real money. At anytime your investments can be wiped out, with a flick of a signal, and maybe....just maybe, they will give you a used Diaper for supporting them with your "REAL MONEY"

Greenspook, is a MASTER COOK, he knows how to COOK BOOKS

BEnakkee is just a pimp, compared to Master Greenscam.

reply to post by mybigunit

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Right mybig. We could easily realize my near-term PO before EOM. Barring heavy-handed cartel shenanigans, or sudden upside surprises, I'd be a seller there, a buyer back at 924 - 966 (-16%).

Rate-cut = Dollar neg/Gold pos, but we'll have to see how much of that 75bp was discounted on Friday's 1,000 break.

In spite of big hits in general equities last week, PM's advanced. Miners on the launching pad....countdown!

GL!

from www.gold-eagle.com...

also and somewhat and related to latest development by the fed to push down short term rates and the possible conclusion is the whole article including this brief paragraph from

www.marketoracle.co.uk...



i suggest reading the second article (as well as first) in completion.

I wonder if the fed's can nationalize this banking mess and debase the currency fast enough, or wether the credit contraction is moving too fast despite their efforts, and perhaps just the big players get out before TSHTF. of course the shiit doesn't have to hit the fan just yet.

[edit on 16-3-2008 by cpdaman]