Posted: Tue May 23, 2006 11:46 am Post subject: Re: Oil, Gold, Copper will all fall this week.
Oil is up, but let us not forget the inventory numbers on gas are coming out tomorrow. All the economic news I have seen thus far indicates a build up in gas inventories. Who'd thunkit with gas be $3 and change.
Joined: Dec 25, 2004 Posts: 446 Location: Salem, MA
Posted: Tue May 23, 2006 12:52 pm Post subject: Re: Oil, Gold, Copper will all fall this week.
greenworm wrote:
Plays your bets: reversal at $670 or will it reach for the sky?
Kissinger is one evil bastard, Nixon wasn't called tricky dick for nothing, he tricked everyone to use the $, you wonder if they have a plan B when no one wants the $ no longer, hmm.
this IS plan A... one world fiat currency, one world government with the UN at the center. global state-capitalism. just ask the Fabian Socialists... but that is a discussion for another time methinks.
seems steady at $673... will probably drop again tomorrow... _________________ UNLESS
Posted: Tue May 23, 2006 4:01 pm Post subject: Re: Oil, Gold, Copper will all fall this week.
Green_achers,
It means there are winners and there are losers. Could be people taking profits from a nice two day run, could mean people are edgy about the news that gas inventories actually built up for a change(unconfirmed, but I think I saw this on cnbc), the market is a form of chaos theory, sometimes it makes no sense(I like this answer!)
I told myself I wouldn't buy anymore after $400, it is too pricey for my taste. I had a gold/silver bug friend when I was growing up and he literally forced me to buy coins when it bottomed out into the $200's. And that is why I call him my friend! I love the graph above, love it.
Looks like it stalled at 666, that always gives me the creeps, looks to be wanting to head north, bummer, back to work. Gold mining stocks aren't plummeting in after hours, I'll guess I'll have to wait until the morning to start the game over. $2000 on the upside and $800 on the downside, now I remember why I do this.
Posted: Tue May 23, 2006 8:30 pm Post subject: Re: Oil, Gold, Copper will all fall this week.
I was expecting today more of a rise from gold today only because of the amazing rise in base metals, copper was up almost 10% along with all the other bases. _________________
Man's like a candle in a candlestick,
Made up of tallow and a little wick;
Posted: Wed May 24, 2006 9:24 am Post subject: Re: Oil, Gold, Copper will all fall this week.
Gold down $30, looks like I maybe correct with gold again, ie below $640. Bad call on the copper and oil thou. I just can't believe with oil above $70 gold is declining. _________________
Man's like a candle in a candlestick,
Made up of tallow and a little wick;
Posted: Wed May 24, 2006 8:57 pm Post subject: Re: Oil, Gold, Copper will all fall this week.
Man, I just got off the phone with a gold bug, he is freakin' out, he is screaming "Fundamentals, fundamentals". I told him to chill out, yes, the fundamentals are still strong, after all, they got us to $730, but you have to consider one thing. Fundamentals don't matter worth a dime when the big boys cash out. Simple supply/demand, how much did Buffet sell? Factor in suicidal Indian traders, late comers, people who are plain freakin' out and you get the tidal wave that we have seen. When the major brokerage firms are getting ready to short it in the $700's do you really think core inflation numbers, high crude prices, horrible durable goods numbers or the kitchen sink really matters at that point, you can't compete against that, go with it and collect the measley scraps that they allow us to have.
BTW, Dukat_Reloaded great thread, many a lesson is learned here.
Posted: Thu May 25, 2006 8:16 am Post subject: Re: Oil, Gold, Copper will all fall this week.
drew, yeah could be a hard correction. I did mention the best way to play it is not to buy all at once, if it drops buy alittle, drops again buy alittle bit more and so on. The kind of stocks you really want to be buying are gold jounior companies, ones that are constantly adding more mineable gold to their total reserves. ie they have a 10 million oz reserve, but every few months they annouce they found more high grade ore and brings their total reserves to 12 million oz and so on. _________________
Man's like a candle in a candlestick,
Made up of tallow and a little wick;
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All the economic news I have seen thus far indicates a build up in gas inventories. Who'd thunkit with gas be $3 and change.
