Note-to-self...gold sucks in the summers.

[muh_roads]

Next year, get the hell out of gold/silver the 1st week of July. Get back in after August I suppose?

Physical I don't really care about, but my 401K, 50% of which is Oppenheimer Gold & Special Minerals is getting destroyed right now. man this sucks...lol

I should've been listening more to Rogers about the dollar rally.

 

[acptulsa]

Next year, get the hell out of gold/silver the 1st week of July. Get back in after August I suppose?

man this sucks...lol

Physical I don't really care about, but my 401K, 50% of which is Oppenheimer Gold & Special Minerals is getting destroyed right now.

I should've been listening more to Rogers about the dollar rally.

Don't buy when it's high and don't worry about it. There are a lot of things right now more worrisome than the gold price. A volatile summer usually leads to a fall correction, and if this fall proves no exception you'll love your gold again...

 

[JoshLowry]

Well, it will be fun for you to watch it go back up.

 

[muh_roads]

Don't buy when it's high and don't worry about it. There are a lot of things right now more worrisome than the gold price. A volatile summer usually leads to a fall correction, and if this fall proves no exception you'll love your gold again...

Yup, I am a failure when it comes to mastering the highs and lows...you see a rally and it is always too tempting to jump on board. The majority of my physical is 890 gold and 17 silver...although I did buy just a little more at 970 gold and 19 silver. Kinda pissed about that smaller purchase a couple weeks back.

I'm still kicking myself for not getting in just a few years ago when it was 300. It's frustrating because I knew the dubya years would be a spending disaster. No speculation there. I just didn't understand inflation and monetary policy enough to know how to profit from it.

grr.

 

[rrcamp]

Amen... I'm getting killed; I bought a ton of gold miners right before this rally... Logically I know it doesn't matter - I'm in this for the long term... I'll see where I'm at after 1, 2, 3 years...

It just sucks seeing that big red number regardless

 

[muh_roads]

When Jim Sinclair calls these rallies a "black box barf day"...WTH is he talking about when he says that?

 

[Mister Grieves]

N/M

 

[acptulsa]

When Jim Sinclair calls these rallies a "black box barf day"...WTH is he talking about when he says that?

Automatic sell/buy orders, perhaps? Don't know, just a guess. Don't watch him.

 

[jonahtrainer]

Next year, get the hell out of gold/silver the 1st week of July. Get back in after August I suppose?

Physical I don't really care about, but my 401K, 50% of which is Oppenheimer Gold & Special Minerals is getting destroyed right now. man this sucks...lol

I should've been listening more to Rogers about the dollar rally.

Here is an article on Gold seasonality. Summer is usually weak and it starts to heat up around mid-August with the real action in November.

The Black Boxes are algorithms that automate the trading. The automated orders first got notice in the crash of 87.

 

[muh_roads]

Here is an article on Gold seasonality. Summer is usually weak and it starts to heat up around mid-August with the real action in November.

The Black Boxes are algorithms that automate the trading. The automated orders first got notice in the crash of 87.

Thanks for the article.

And the explanation on a black box. Reminds me of those infomercials that want to sell you software to predict when to bail out and when to buy back in. Seemed so gimmicky.

 

[pmbug]

Cheer up! War is breaking out in the Balkans.

 

[noxagol]

Cheer up! War is breaking out in the Balkans.

Really?

 

[youngbuck]

Yes, Russia just invaded Georgia, and had two of its fighters shot down. Forces are braced for combat against Russian forces in Georgia and southern Ossetia.

Note: Georgia is on its way to becoming a NATO member, is has had the support of the US/UK in the past. Also note that Georgia is on the border of Iran.

 

[acptulsa]

Note: Georgia is on its way to becoming a NATO member, is has had the support of the US/UK in the past. Also note that Georgia is on the border of Iran.

Make that very close to northern Iran. Otherwise, yes, afraid so...

 

[noxagol]

Well shit.

 

[theoakman]

if you are holding gold, I sure hope it's for the long haul and not for short term profits. Sure, it's great to watch your stuff go up when you buy it. But we are holding this stuff for years. This pullback in gold is great. Back in March, I was kicking myself in the head because I couldn't get in on gold around $850. Now I can. In fact, I'm preying gold stays down for another year so I can get that much more of it.

 

[Perry]

Next year, get the hell out of gold/silver the 1st week of July. Get back in after August I suppose?

Physical I don't really care about, but my 401K, 50% of which is Oppenheimer Gold & Special Minerals is getting destroyed right now. man this sucks...lol

I should've been listening more to Rogers about the dollar rally.

Are you in this for the short term? If not then stop complaining and back away from the trigger. Do your DD ahead of time and if market conditions don't change stick to your guns. A rally that is based on nothing does not change your due diligence.
Decide if you are an investor or a trader.
If you are confused about this you may get hurt.

 

[muh_roads]

Are you in this for the short term?

Well certaintly not anymore...lol

No I planned on holding for at least another year...the prospect of $1200-$1600 sounded interesting. I should probably just claw and scrape and make as much as I can so what I have in PM can just stay in there for many years. It would just be nice to know I can cash out when needed in case of a personal emergency, and right now I definitely can't cash out. The constant large red numbers is just a bit frustrating at the moment. I just don't wanna see some pullback to $600 and it takes 5 years to get back to what we're at now. That shouldn't happen but this little tick in the back of my head keeps telling me I should worry and the dollar is going to get manipulated a lot more.

I should probably just not even look at kitco for a while and come back in September-October, heh.

 

[tpreitzel]

The dollar rallies against ... ? <snicker> Actually, the dollar always tends to rally right before an important election. Strange days indeed. I simply can't wait to see the Federal Reserve System axed and replaced with nothing, i.e. NO central bank especially one consisting of a private cartel. Don't worry too much. About the latter part of November, the price of oil will be up, up, up and away, and the value of the dollar down, down, down into the ground! I simply laugh that the dollar would rally against ANYTHING as long the the money supply keeps expanding to fight illegal wars and subsidize "entitlements". "Oh, it's those greedy oil executives and those rangy Arabs who are the source of our problems", shriek the politicians while knowing full well that the skyrocketing price of fuel and other commodities relative to the dollar has little to do with supply and everything to do with the spendthrift ways of those same politicians. However, it's easier and safer for politicians to point the finger at Arabs when they should be pointing the finger (you pick) at themselves. Someone's pulling our chain... again.

 

[voytechs]

All central banks purchase each other currencies, especially the dollar. So when Euro drops and dollar gains, the EU central bank just bought a bunch of dollars off the open market. A little country like Poland holds $88B, now that dollar has risen probably a lot more. This is one the par with its entire GDP. Of course all the central banks just print the money, so its all inflation. That is what people mean that US #1 export is inflation, central banks prop up the dollar by inflating their currencies.

The thing is, that most central banks can't keep up pace with our feds inflation which is at 18% this year (see shadow statistics website). The dollar has been in danger for some time. A few weeks ago EU central bank raised its rates .25, but a few hours later issued a statement saying they would raise rates again. This was key. There was a real threat that there could be a run on the dollar or at minimum the dollar loosing its reserve currency status. That is what prompted their statement and retraction of the policy. Looks like the banks are taking steps to prop up the dollar, at the expense of everyone else, as it was getting too close to falling off the cliff.