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11-02-2014, 08:22 AM
#6371
 Originally Posted by tosspot
Because there are many other people willing to own it and pay more for it, not sure if your ignorant or just a super pessimist but its pretty clear gold is in a short term uptrend and obviously depending on short term future macro events should go higher.
Yeah, you're right, millions of unsophisticated chinese peasants can't possibly be wrong.
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11-02-2014, 09:01 AM
#6372
I just posted this on HC & thought worth posting here for your consideration.
There seems to be a strong force in play protecting this $1275-80 area in gold. Timber (of HC) mentioned in a previous post that there may be a large option position in play that is being protected & I think he may well be on to something.
Option expiry for COMEX is tomorrow & it suggests to me this would be the expiry date as it would be too difficult to protect an option that had another or several months to run. However if its only for a few days & the position is big enough, its probably worth throwing ammo at to protect the strike price.
So if this theory is correct we should see the pressure released off gold as the option expires from memory at 9.30am NY time tomorrow.
Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision. 
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11-02-2014, 01:53 PM
#6373
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11-02-2014, 02:37 PM
#6374
Yes, a nice spike to 1285 USD. Now just about everyone will be bullish on Gold...except for Skol of course.
Skol - did you buy TRY when I recommended it to you at 75c? You never replied.
To foretell the future, one must first unlock the secrets of the past.
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11-02-2014, 04:53 PM
#6375
Originally Posted by Bobcat.
Yes, a nice spike to 1285 USD. Now just about everyone will be bullish on Gold...except for Skol of course.
Skol - did you buy TRY when I recommended it to you at 75c? You never replied.
No I didn't, I have enough exposure to precious metals and natural resources through the BT Natural Resources fund, but very well done, good profit for you there. Gold is sitting at the top of a bearish price channel, it's more than likely going downwards. After Janet Yellen's had her fireside chat reality might set in.
I bought some QBE instead.
Last edited by Skol; 11-02-2014 at 05:12 PM.
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11-02-2014, 08:39 PM
#6376
Originally Posted by Bobcat.
Yes, a nice spike to 1285 USD. Now just about everyone will be bullish on Gold...except for Skol of course.
Skol - did you buy TRY when I recommended it to you at 75c? You never replied.
Yes TRY been bit like skol pic of 747 near 100% move north since skol was bagging the stock lol
Last edited by JBmurc; 11-02-2014 at 08:41 PM.
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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11-02-2014, 09:22 PM
#6377
Originally Posted by JBmurc
Yes TRY been bit like skol pic of 747 near 100% move north since skol was bagging the stock lol
I don't recall bagging it. Did you buy it, or are you just big noting?
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11-02-2014, 11:09 PM
#6378
Member
from a month or two back...
Originally Posted by Skol
TRY looks deader than a dead dingos donger, but thanks for the offer.
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12-02-2014, 03:39 AM
#6379
Originally Posted by corran
from a month or two back...
Hardly bagging it, is it? And I did say 'thank you'. I bought QBE for $10.57 instead.
Looks like the goldbug prediction of a rout in stocks is all hot air, gold going down, DJIA up.
Last edited by Skol; 12-02-2014 at 03:47 AM.
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12-02-2014, 05:39 AM
#6380
Gold booming higher 1290 .. Has that gold short treating you blackcap
Be yet another big day for PM stocks
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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