<img src=http://members.optusnet.com.au/alphawolfau/Caps_Lock.jpg> <img src=http://s43.photobucket.com/albums/e362/kp5insd/th_CapsLock.jpg> I COULD BE TYPING THE CURE FOR CANCER HERE BUT WHEN I WRITE LIKE THIS EVERYONE STILL AUTOMATICALLY ASSUMES IM A MORON AND THEY ARE PROBABLY RIGHT
<b>I</b> am bullish on gold. <b>Very</b> bullish. Since I'm pretty much always right, you should probably take this call seriously.
To bet FOR gold is to bet AGAINST the monetary system. The system is rigged. If you win the bet FOR gold, the system will not allow you to realize your win. Emergency Executive orders and so on. OTOH the dollar will lose 2-3% annually, but hand to mouth sheeples w/o wealth will earn 3-4% a year more and continue the trek as wage slaves. Gold is not a lifeboat on this Titanic. key memes: hoarding,corner the mkt,emergency,panic,collapse.
if the bet fails on those grounds, would the upside be a society prepared to meaningfully address its wreckless personal and public credit addiction? metal seems win win in that respect to one who values 1. our society and 2. our children to me, this admin's blatant, promiscuous abuse of fiscal and monetary policy demonstrate that it simply won't be fixed until they've broken it. personally i'd prefer to see the problem taken seriously before it's fatal and not just dumped on everyone's future. the sooner the better, like breaking an addict's credit card in half before they spend themselves and the whole household into permanent insolvency and indenture
About a 3 months ago I said I shorted Newmont when it was around $53 a share (1000 shares) Well that was the quickest $5000 bucks I ever made. Ah yes people laughed with their jokes about vaseline but I IT IS I WHO MADE MONEY (A little bit of money 'tis true) I would be shorting gold ETF's and/ or ANY gold stock even now because all technical resistance levels have been broken. Next resistance level is at $450 an ounce!
Rearden - Can you state why you are bullish? Any year end predictions? I know you "see the future." Thanks
I have nothing original to say about the bullish case for gold, that hasn't already been discussed to death elsewhere. It just <i>feels</i> right. Part of it is technical too- we've been hanging around near the May top for months now. If gold had put in a true long-term top, that wouldn't have been the case. The same goes for copper, btw.
Congrats on your trade. Just one interesting point i'd like to make. You said you were short at $53 made, 5 points, so you got out at $48. Looking at a chart that means you were probably in this trade for 3 months (correct me if I am wrong). You say it's the quickest $5000 you've ever made. You could have made the 5 G's quicker by working as a greeter at Wal-Mart working for $10.50 an hour.