tag:blogger.com,1999:blog-1708908742323002823.post8652026904624504859..comments2024-02-10T02:18:27.240-08:00Comments on Trader Dan's Market Views: Further Drawdowns in GLDTrader Danhttp://www.blogger.com/profile/05484363461047659198noreply@blogger.comBlogger67125tag:blogger.com,1999:blog-1708908742323002823.post-55130536472694895822014-05-05T05:51:28.158-07:002014-05-05T05:51:28.158-07:00Classy as always brassey, and by now we all know i...Classy as always brassey, and by now we all know it's 'sparks', but thanks for reminding us all every time you post, lol.<br />Angelohttps://www.blogger.com/profile/07067735191127041901noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-9887800635433489982014-05-05T05:46:35.527-07:002014-05-05T05:46:35.527-07:00Jasper, they are all on a 1 way street with stoppe...Jasper, they are all on a 1 way street with stopped clocks in their back pockets. We may go sideways between 1180-1550 for years, as they continue hashing over the same tired ideas of Russia, India, China; sparks Anonymoushttps://www.blogger.com/profile/15820220635483947518noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-22070237603762165512014-05-05T04:23:08.587-07:002014-05-05T04:23:08.587-07:00"A fanatic is one who can't change his mi..."A fanatic is one who can't change his mind and won't change the subject."<br /><br />I think in a year or two, some of the folks that still dont get it, will get it.<br /><br />Its sad how the "guru's" have been taking advantage of the naive, the pensioners, widows and orphans. <br /><br />Were 4 years into a bear market - does anyone really think the likes of Greyerz, Sinclair, Turk, etc dont recognise a bearmarket when they are in one?<br /><br />Seems like the only way these guys can make money is by screwing others.Jasperhttps://www.blogger.com/profile/03831704112998990130noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-16790098769117068742014-05-05T03:58:44.459-07:002014-05-05T03:58:44.459-07:00But I plan to be selling bits on rallies for years...But I plan to be selling bits on rallies for years to come.Eric Originalhttps://www.blogger.com/profile/09663512536878956249noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-38402105204529200162014-05-05T03:49:09.156-07:002014-05-05T03:49:09.156-07:00How often do you visit your psychiatrist, Angelo? ...How often do you visit your psychiatrist, Angelo? SparksAnonymoushttps://www.blogger.com/profile/15820220635483947518noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-18851470338952992212014-05-05T03:44:18.898-07:002014-05-05T03:44:18.898-07:00"physical gold around 20%"
yup, that..."physical gold around 20%"<br /><br />yup, that's about where I'm at too <br />Eric Originalhttps://www.blogger.com/profile/09663512536878956249noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-76127599002645022802014-05-05T01:18:49.074-07:002014-05-05T01:18:49.074-07:00And on that issue Hubert I see the $1310 - 1330 as...And on that issue Hubert I see the $1310 - 1330 as critical for gold, needs to hold there and want silver above & sustained $19.20 to indicate the bull is back in play. However a collapse is still possible and then a $15 for silver looms. Would love to recover some fiat cash value in my phys as Dan indicates pgm disciples crave, of course that's just natural.<br /><br />Angelo you are regurgitating arguments seen many times on this blog. However clearly trading is different to investing and if you are honest those who bought phys silver & gold at near the highs have oft been forced to remain investors or take massive losses as the price of the metals plummeted. As a 40% investor in mining shares my pension pot has plummeted in value these last three years. Fortunately I am young enough to not have to live off it, but had I been ten years older... Staying in blue chip was the right decision and fabulous wealth has been made on the back of Queasy Money for some who can now buy loads phys whilst it is here near the lows. <br /><br />Manipulators or not I am a sheep who has lost my fleece, but given time it will regrow. <br /><br />Lucky I have the time and I still have my stack, but yes I was suckered by the pgm guru's who were WRONG in their timing and always pumped the long end.. I know at least three investors personally, who were advised by a certain Maguire, who now are back to working in main street after losing their shirts in his service. <br /><br />For investors/preppers the best and most sensible resouce I have found is Peak Prosperity, a paid for subscription. <br /><br /><br />However Dan stands tall offering free trading insight and opinions on the market, almost daily and with clarity and logic. He is to be lauded for this even if I disagree with his view about manipulations and the value of the BLS . His posts would have benefitted me enormously had I found him earlier instead of Buying the Dip like a lemming.<br /><br />I am long phys but I now have my eyes wide open to the short side. One can throw darts at an image of Corzine and recall Cyprus but still short silver when it pops and on strength as it almost invariably retraces the move as it is in a bear market for now. Just keep those positions small and mind your stops!<br /><br />Good luck all.jasahttps://www.blogger.com/profile/17429683299210471381noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-36009427044827661782014-05-04T23:52:10.298-07:002014-05-04T23:52:10.298-07:00Trader Dan, you are talking about the all-in crowd...Trader Dan, you are talking about the all-in crowd, everything they own into precious metals, I don't think there were many analysts that ever suggested that kind of exposure, obviously there were some. One can like gold for fundamental reasons and still have exposure to other sectors. It's not all or nothing.<br /><br />There are very exciting things happening in technology for example, we don't have to be myopic in our world view because we may or may not value gold as something intrinsically valuable. <br /><br />Singular exposure, that's what your railing against, and I can agree with that sentiment, but who argued for 100% exposure? And are the people that aim for that type of exposure more akin to speculators than victims? Were they not aiming for da'moon?<br /><br />Old folks can be gamblers too, for sure! In fact 80% of the patrons at casino's are elderly folk, pure victims....<br /><br />That's not to say there weren't a few unfortunate victims, but the market produces victims all the time, remember 2008? It didn't matter what you owned. Many sold at the lows.<br /><br />I'm not emotionally seeking revenge of my losses, I have other exposure, I just can't understand the superiority complex of the short term traders, seeing as that a portion of my portfolio is swing trades. The gold crowd sucks, okay, they're down, great, let's kick them in the teeth, spit on them, much fun! The main contention is the price, one says gold is going up, the other says it's going down. One is currently right, the other is currently wrong.<br /><br />This whole thing with referring people to 'guru's', are you not a guru to your readership? I mean seriously Sprott invests in more than gold, why the need to be so divisive? Because he believes something you don't with regards to gold, and you have been right for a period of time?<br /><br />If you prefer negativity in your personal arrangement fine, but something to remember, companies don't get built by swing traders or day traders, they get built by investors and those with a stake..... and then eventually those same companies may get consumed by a hedge fund that will take over control of their very soul.....but that's another matter altogether!<br /><br />CheersAngelohttps://www.blogger.com/profile/07067735191127041901noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-28975223793436232572014-05-04T23:27:36.992-07:002014-05-04T23:27:36.992-07:00This comment has been removed by the author.Angelohttps://www.blogger.com/profile/07067735191127041901noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-84542196604712736312014-05-04T22:59:55.211-07:002014-05-04T22:59:55.211-07:00Most of all I hope that this forum will keep being...Most of all I hope that this forum will keep being one of the rare blogs of the webs where everyone can share one's various opinions, and not one of "one mind, one speech, one truth".<br /><br />Let's remember that this forum welcomes traders, investors, and newbies :)<br />Each of them have different reasons to invest in gold, and on different time scales.<br />There is not one truth.<br />Even manipulation is not a simple topic.<br />You can be right or wrong depending on the words you choose, the period you describe.<br />There are many variables.<br />For example I would disagree with Dan :) :) about the manipulation actions on gold from Fed happening only when gold goes up too fast.<br />If the Fed wants to avoid as long as possible for gold to become a rival to USD, then why would they avoid a cheap and easy occasion to keep its price down and further down in a bear / range market, if it means it will prevent gold from going higher a bit longer?<br />So I'd think that if the long term strategy is to destroy gold's credibility of a safe haven vs dollar, then short term tactics of "manipulating" gold down once in a while even now are part of the game.<br />It's my personal opinion, of course, don't get angry :)<br />But as Dan mentioned, Fed might also be wary and worried about gold prices going too low, too far, which would signal the return of deflation.<br />Who knows? Maybe tomorrow they will be supporting prices.<br /><br />The only thing I will retain from this is :<br />- it is not so important to know exactly what is happening in terms of manipulation.<br />- it is more important to admit that manipulation from great actors, whoever they are, whatever their motives, happened at some times in the gold market, which is a small market, vulnerable to such attacks. So, volatility is part of the game, because some actors can decide at any time to cap gold price, or support it, or whatever else, and we have no visibility about it except from what the charts are telling us.<br />- techincal analysis is working, yes it is!!, in a "manipulated" market, and it will help everybody, whathever their belief about manipulation, to make money instead of losing it.<br />- there are many valid reasons to own some physical gold. Dan is being called a gold bug basher by some, but he owns some phys. gold too. Did someone hear him with only half an ear?<br /><br /><br /><br /><br />Anonymoushttps://www.blogger.com/profile/00335835171576180359noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-37812143241100646382014-05-04T22:44:14.970-07:002014-05-04T22:44:14.970-07:00True Mark, but...
I won't stay in the system 1...True Mark, but...<br />I won't stay in the system 100%.<br />I prefer to trade and speculate with a good amount of my capital BUT keep the joker card of physical gold with around 20% of my net worth, which isn't so huge after all if the worst happens.<br />Because history taught us that the worst is always unpredictable.<br />In the times we live in, I will keep preaching for everybody to keep some real physical gold at hand.<br />You never know what tomorrow will be.<br />Call me a pessimist :)<br />Anonymoushttps://www.blogger.com/profile/00335835171576180359noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-29437836952578446642014-05-04T22:40:22.736-07:002014-05-04T22:40:22.736-07:00"If we were, we would all be retired from tra..."If we were, we would all be retired from trading and enjoying life on a S. Pacific island."<br /><br />Twice you mentioned it, so it's a real wish :)<br />I'll try to locate an affordable one for you, but south atlantic is not bad either, especially next to Parati, Brasil.<br />Here we go, you have a choice among 300 islands and I can be your broker.<br /><br />http://www.ipanema.com/pictours/paraty/paraty7.htm#axzz30ohgEVJM<br /><br />I must warn you though that you won't be neighbour to Jim in that case, who prefers an isolated small house somewhere in north Alaska.<br />Anonymoushttps://www.blogger.com/profile/00335835171576180359noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-80012228006309397342014-05-04T22:31:53.727-07:002014-05-04T22:31:53.727-07:00Hi Mike, I'm a bit underwater as I mentioned, ...Hi Mike, I'm a bit underwater as I mentioned, plus I usually shut up about things I know nothing about, which happens to be the case for the Indian PM at the moment.<br />Lately, I've only been monitoring a few charts, T.A based, plus Ukraine conflict because of the domino effect is worrying me there (once the Russian Army is involved and fights directly the Ukrainian one, next domino is the West supporting directly the Ukraininan army. And if it happens, then we are at the brink of a full scale war imho because there is no way Russia will loose troops and men every day because Ukrainian army receives continual reinforcements from Europe. Gotta break the supply lines. Blitzkrieg has always been a good tool. Europe is not ready for invasion. Just as the French declared war to Germany in 1939 but got invaded themselves and wiped out in less than a month.)Anonymoushttps://www.blogger.com/profile/00335835171576180359noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-13383932408552648552014-05-04T22:19:33.328-07:002014-05-04T22:19:33.328-07:00steve brassey;
Well said Steve. It is all about ...steve brassey;<br /><br /><br />Well said Steve. It is all about learning to read a chart in order to make wise investment decisions and finding those asset classes which are in favor and which are not.<br /><br />too many, even those who post on this blog, are married to their gold and will never sell it even after it breaks through chart support levels and falls into bear market territory. <br /><br />Eventually, we can hope that prices will recover to their previous levels and some of the money that they have lost will be regained but their is the story of the vast majority who never learn how to invest with a hard-nosed realism.<br /><br />Don't sweat their comments. IF these guys did not sell their gold shares when the chart broke down, they are sitting on massive losses and have lost opportunity cost because they did not rotate out of one sector and into another and therefore missed some excellent investment gains.<br /><br />It is more a case of sour grapes that you are reading instead of courageous investment value buying.<br /><br />Eventually, as time wears own, the price of the metals will rise and then they can all say how right they were all along. No one ever wants to admit that they made a bad investment choice because of pride, which is the enemy of all investors and traders. Try telling that to comfort the people in their 70's who are running out of years while they wait to recoup their huge losses. I know, I get their emails all the time. Theirs are the saddest stories you can ever read. Their financial lives have been ruined because they blindly followed their gurus like Sprott and others.<br /><br />There are some who have made an incredible amount of money investing in shale oil and companies that both drill and provide service to those firms. That is completely lost of the buy and hold forever gold mining share crowd.<br /><br />Let them vent - it helps them come to terms with their paper losses while they wait for the price to go back up so that they can break even again.Trader Danhttps://www.blogger.com/profile/05484363461047659198noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-61716864595325649552014-05-04T22:12:57.832-07:002014-05-04T22:12:57.832-07:00If silver does not move alongside gold than I woul...If silver does not move alongside gold than I would concede it's likely momentum from the Ukraine carrying gold right now, we'll see what silver has in store.Angelohttps://www.blogger.com/profile/07067735191127041901noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-89643869382097193242014-05-04T22:04:31.052-07:002014-05-04T22:04:31.052-07:00I like your avatar/icon Jim!
Cheers I like your avatar/icon Jim!<br /><br />Cheers Angelohttps://www.blogger.com/profile/07067735191127041901noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-38813225945556479552014-05-04T21:54:22.784-07:002014-05-04T21:54:22.784-07:00So the gold 'bear market' as you call it, ...So the gold 'bear market' as you call it, started the very day it lost the top, that's interesting. I saw gold over-shoot by a bit (which hurt the miners more than anything - it was bubbly), correct itself, move up again, correct and again move to it's historical norm (based on production costs), share prices were almost equal to the high, at which point gold was hammered down into no-man's land. We have experienced a lean winter ever since! Miners have been preyed upon, many smaller ones have kicked the bucket, their assets now being bought up for pennies on the dollar. <br /> <br />Take downs happen, they happen in every aspect of live that is predatory, it's reality. The blood was spilled, the assets (meat) is eaten cheap and once the process is complete (see Osisko) than the bull resumes for another round of profits on the way up, this time with hard asset exposure in the deepest sense. Win-Win for the predator. <br /> <br />We are in a hard asset phase of social/political/economic life where the kings and queens are - oil, gas, food, water, uranium, lithium, silver, platinum, rare earth’s, and so on. We are a finite planet, with a growing population, the math is elementary. In the next fifty years we'll be mining asteroids....<br /> <br />So brassey, you're a trend follower, with a bad attitude toward investors....nice. Investing is for champions, we pick winners, not momentum, we see reality in a product, not a price chart. You'll make some money.<br /> <br />CheersAngelohttps://www.blogger.com/profile/07067735191127041901noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-290645887150743762014-05-04T21:04:22.838-07:002014-05-04T21:04:22.838-07:00Angelo; Silver is now entering its 4th year of its...Angelo; Silver is now entering its 4th year of its bear mkt. Around Labor Day, Gold will also be entering its 4th year. In the meantime, if the trends change, I change. What Sprott and anyone else says has no value for me. Sparks Anonymoushttps://www.blogger.com/profile/15820220635483947518noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-33837268844088239212014-05-04T20:54:57.693-07:002014-05-04T20:54:57.693-07:00Angelo...that's their schtick. They are obsess...Angelo...that's their schtick. They are obsessed with KWN then they diss all over anyone who contributes to KWN's interviews. Meanwhile those people can buy and sell these twits with pocket change. Got It Righthttps://www.blogger.com/profile/03815963795997697678noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-40645945900544454222014-05-04T20:41:29.616-07:002014-05-04T20:41:29.616-07:00Sunday: 11.30 pm.
The jury is out for now; Gold i...Sunday: 11.30 pm.<br /><br />The jury is out for now; Gold is up $5.<br /><br />Re: all the emotional debates ( and yet very useless from a trading or ivnesting standpoint ) posted above, a basic fact whihc cannot be DEBATED: For every seller there has to be a BUYER. So who bought the 10 TONS of Gold which were liquidated from the GLD: ETF?<br />Unless this question can be answered, the trail ends for now....WolfWisdomhttps://www.blogger.com/profile/01035527970541910596noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-64650469390815387752014-05-04T19:59:34.636-07:002014-05-04T19:59:34.636-07:00Angelo,
Good comments and agreed!Angelo,<br /><br />Good comments and agreed!Anonymoushttps://www.blogger.com/profile/10366683894545649989noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-15367188329088728132014-05-04T19:39:12.438-07:002014-05-04T19:39:12.438-07:00brassey, Mark
Gold is up 500% since 2001, its bee...brassey, Mark<br /><br />Gold is up 500% since 2001, its been down from its higher range for just over 1.5 years. <br /><br />I have associates that invest and deal with Sprott and Rule, and all I can say is that you only wish you had the smarts these guys did. In ten years, never mind, in 3 years from now, they will be the one's laughing, but they will be graceful about it, they are gentlemen.<br /><br />Your vitriol and venom is a bane to the world, your anger gets you nowhere. Trust me in this, one day the egg may be on your face, and then you will remember this comment. For now you'll likely brush it off with some snide remark, but in my view you bring nothing of value except negativity. You might look into attempting to raise your vibration to a more refined level, it will actually help you in many ways, even with regards to investing.<br /><br />CheersAngelohttps://www.blogger.com/profile/07067735191127041901noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-62804910878067979152014-05-04T19:33:04.600-07:002014-05-04T19:33:04.600-07:00"What is the funniest thing of all, is that N..."What is the funniest thing of all, is that NONE of these 40-year veterans and acclaimed experts predicted the sharpest, fastest, steepest, longest gold bear market since the late 1990's."<br /><br />Ron Rosen called this current bear market in PM's before it hit.<br /><br />He wrote on May 10, 2011 : "A 50 % or $500 correction (or more) in gold bullion should cause the precious metal shares to have a vicious decline. "<br /><br />http://www.kitco.com/ind/rosen/may102011.html.<br /><br />Here is what he is calling for now:<br /><br />"2014 will be the year of the upside explosion in gold and silver. 2014 will also be the year the S&P tops and the stock markets endure a historic plunge...."<br /><br />Anonymoushttps://www.blogger.com/profile/18077553864525359791noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-91590212864668913252014-05-04T19:07:30.445-07:002014-05-04T19:07:30.445-07:00Brassey.
Don't forget the mysterious "Da...Brassey.<br /><br />Don't forget the mysterious "David P.", some guy Eric picked out of nowhere from Europe, who is now supposed to be the so called "eggspurt" on the gold market.<br /><br />After all the other guys like Bo Polny, Lars Lindstrom, and other guys who left the scene with total egg on their face.<br /><br />What is the funniest thing of all, is that NONE of these 40-year veterans and acclaimed experts predicted the sharpest, fastest, steepest, longest gold bear market since the late 1990's.<br /><br />Essentially, all those who clung onto their "words of wisdom" got Cramerized.Markhttps://www.blogger.com/profile/13068811838777958318noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-46082300419684133462014-05-04T15:33:13.686-07:002014-05-04T15:33:13.686-07:00 Here we go again at kwn with Rule now talking abo... Here we go again at kwn with Rule now talking about urainium; next up will be Russell and to cap it all off will be the Belvedere prognosticator; they all know that can not be accounted for on bad calls here, as these are very tiny mkts, but whan can I say? sparks Anonymoushttps://www.blogger.com/profile/15820220635483947518noreply@blogger.com