Gold to have Epic Rise

Nice bounce today but Gold has been SMACKED for weeks/months.

pally what are getting into now ???

Note that those stocks you listed on the 6th, all but one are down, some down between 20-40%.

You still holding those?

You sound just like this guy I know.  100% invested in precious metals.  More or less every penny he has, he has in them.  Hopefully you'll be smarter than him and use this bounce as a chance to diversify a bit and pull some money out (I alreay spoke to him, and he is not).  Although, based on your post, I'm guessing the chances of that aren't likely.  Either way, best of luck to you, but keep in mind, so far, I (and the rest of us) only have to write checks to bail out "investors" with bad judgment in real estate and real estate related investments.  I don't think there is any lifeline for bad judgment in commodities

 

Wake,

Diversify into what?  This whole collapse was caused by this fiat money system.  With a gold standard there would be no derivatives, credit swaps, leveraging etc..  My biggest position isn't in gold but SF a financial sitting just below at an all time high so I'm already diversified some what.

Capper,

I've been in metals since 2002 so adding on Aug 6th will be a good move down the road AEM already up 20% GG, KGC, off but I sold calls.  QMM is easy money research their CEO Tom Patton and his track record with WTZ and you'll begin to understand besides I first bought at .18 in 2005. I've owned GG since GLG takeover which started with the WTZ takeobver I bought that stock under 2 in 2004 so I'll keep holding.  For the record I also just bought MDW, SA, SLV, SLW, more PAL, and SWC. 

You can all mock me but study the Great Depression and it's very clear things are shaping up the same way.

Nobody is mocking you, just the way you replied was less than classy, especially for this area of the site.

In the investments area most people dont need to or boast or rub things in to make a point, add that MOST of the positions you were bragging about AND gold were all lower than when you made the thread.

Please show some respect and check the cockiness at the door.

Let's recap.  You started this thread as a shot at Mikey and his call on gold's impending drop, which he was definately right about.  So now a month later you come back in here to point out that gold was up large today and pat yourself on the back.  Unfortunately for you, everyone in here is smart enough to do 5 minutes of research and see that your calls at the start of this thread are still looking less than stellar even with todays pop.

Worse than all of that, you accused somebody of being a tout. 

If you want to brag, go ahead, but personally I would have waited until my calls were actually somewhat profitable.

Jax,

Honestly I'm just having some fun on this MB sorry if I pissed you guys off.  I have seen both you and mikey make some good calls and I'll give credit where credit is due. At first I believed he was just a tout throwing enough predistions against a wall that some would stick but over time I see there is more to it and he is an extremely good trader. It would be nice if rather than just posting go long this short this; the two of you gave entry and exit points consistently as I believe I could make money piggy packing your plays.  As for my calls looking poor I guess it's relative to the rest of the market nice 10-12% pops today but with this market who knows what will happen tomorrow.  At the end of the day I guess there was an Epic decline and an Epic Rise and we're back where we started. You believe in trading I believe in buy and hold hopefully we all make money.

Why does Jim Cramer have to ruin my party every time?  First he throws his Gold 1600 party and Gold promptly sells off 30% and now he talks it up last night and the minute he opens his mouth theselloff begins.  On that news I sold in the money calls on half my holdings.  I probably should just sell everything; I hate that bastard!

Gold was doomed long before Cramer.  When it's all over TV, you know it's topped.  Just like all of the house flipping shows the last few years, once they popped up on every channel, the housing boom was over.  Every other commercial these days is a buy/sell gold commercial, it's peaked, it's over.

I was thinking those commercials were bullish in that there is big demand for physical.  We have a guy that runs commercials where I live named Good Old Tom; he's been fleecing people out of their gold and sterling silver for years.  Cramer on the other hand is the kiss of death; so you suggest I sell everything and move on?  If so where?

Txs

hey jax,

Believe me yet or are you still trading UYG?  Just wait for the run in the juniors it will make 99 Nasdaq look like a bear market.

 The gold market is so subject to manipulation by central banks it scares me, but then again, what market is not n ow made by the governments?

 I own gold, but would hate to see the day we witness it really skyrocket.I suspect gunpowder would be more valuable then than the metal...

Very true. Just remember the 3 B's..... Beans, Bullets, and Bullion.

Having a solid food prep foundation could be very important in the near future. "Store what you eat, eat what you store". You should have at least 6 months of food and water on hand. Also I recommend having 6 months of cash for living expenses on hand if possible.

Guns and ammo are the ultimate survival tool(s), especially in an urban setting. Fuck those who want to take our guns away.

You can't eat gold (or any other PM), but owning physical gold is a great way to preserve your wealth. It is also a good hedge against (hyper) inflation, even though at this point, I'm starting to give more credence to the Kondratieff Winter theory.

The PM paper traders can and probably will make more money with gold as a paper investment, but I am very happy and content with my holding of physical gold bullion (and silver) as a big insurance policy after the shit finally stops shooting off the fan propellers in 5- 20 years...???   Who knows how long this will last. Gold may drop to $500 or it may rise to $3000 or higher....none of us know, but I would rather own tangible assets than paper.

I can't tell you yet at what price I will sell some of my stash, but I hope to survive the shit storm and make decisions from there. My rant may sound radical, but I go by the theory of "I would rather have it and not need it, than need it and not have it."

As Chris Martenson has stated, "the next 20 years will be nothing like the previous 20 years."  I know this off topic, but here is Martenson's "crash course". Take your time and enjoy this course. I don't agree with everything stated in this course, but found it pretty informative.

https://www.chrismartenson.com/crashcourse