the only thrashing round here is the one I'm giving you in this comp Skol---DOW up 197 TSX up 103 bring on monday any selling in NAV will be matched in buying IMHO it will hold 20c
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So would Skol end up here JB?
Two things about you JB that I didn't know: OGC is your favourite Goldie? and that you also apply EWT to the gold price.
Have no fears with OGC, Skol, it has readjusted after 10% of all shares being purchased by major funds indexes, and should now track gold until further news releases bump it up.
Found this longer-term look at stocks and commodities, something in here for all sides.
Didn't know you had a crystal ball JB.
Here's a couple of paras. from my books here, I'm sure even you'll be able to spot the similarities.
"All speculative manias are characterized by ever-widening acceptance. In every case we studied, the seeds of a market mania are planted by the wealthy and by professional investors. (In this case, Schiff, Rogers, Faber, Chanos et.al). It was only after the masses jumped in and tried to emulate the market maker that prices seemed to really rocket beyond any semblance of fair value."
and
"It is impossible to forecast the top in a speculative mania, just as it is impossible to predict a top or bottom in normal markets. In a mania investors lose the ability to think rationally. Any attempt to forecast a price peak can be deadly. All manias are characterized by prices that, in retrospect, are irrational. Prices, having risen wildly, can keep doing so, doubling, tripling, or more."
You don't need a crystal ball to see GOLD in a massive bull trend --the Yanks looking at starting the next stage of Q.E soon enough will add fuel to the fire of the large gold/silver bull trend of the honest currency--
Japan
The yuan issue is also further complicated by Japan’s first unilateral yen intervention in six years-- estimated at more than 2 trillion yen ($23.32 billion). Japanese officials already indicated the government will continue the yen intervention if necessary. And judging from its last intervention in 2004--Y35+ trillion in 15 months—Japan’s got a long way to go.
U.S. lawmakers conspicuously didn’t address this new act of Japan during last week’s congressional hearing. In light of recent heightened tensions between China and Japan, giving Japan a free pass to intervene would only infuriate Beijing. That means zero chance for China to even consider curtailing such activity, if just for the sake of “saving face
so even though both have massive Debts to GDP they can afford to buy billion's of their own dollars an bonds it's like using one credit card to pay the other maxed out one down ..
Here's something from todays Yahoo Finance.
Meanwhile, gold continues its decade-long rally, hitting an intraday high of of $1,301.60 per ounce early Friday. As with Treasuries, gold continues to defy its skeptics. If recent bubbles in dot.coms and housing are any indication, gold probably hasn't peaked yet, but any asset that "can't lose" typically does -- in a big way.
Hi Fellas.
Not trying to burst anyones bubble :p here but take a good look at this.
The price of Gold in 4 major currencies
Gold went up on Friday in only one. Guess which one.
Bit like climbing a ladder in an elevator thats going down I reckon.
By the way I have no interest in the POG or trading it. Just an observation
The bottom line in Green is the Aussie Dollar and probably the most relevant to us here down under.
Stepping back a bit from all the noise.
In Aussie Dollars again ( this time in blue US dollar in Green ) It actually peaked in Feb 09
Theres no doubting that its been a winner over the last decade though.
Seems to me that Goldies are really FOREX traders :huh::lol: No matter which currency you value your gold in you are always using a moving target as your reference which in almost all scientific or engineering fields would be considered useless or unreliable data at best.
Nice charts there Strat, a different look at it.
If you believe the goldbugs, gold is a currency all on its own, so how do you measure it, what's it worth?
If the ultimate meltdown arrives as JB and goldbugs reckon, it could be something like "I'll give you an ounce of gold and you give me your 3 year old steer."
http://en.wikipedia.org/wiki/Barter
Barter will happen if it all hits the fan. Not gold and silver...
Hi Skol.
If I was a gold bug I would be more interested in how everything else is doin than whether there is a bubble or not.
This chart is interesting to me too. Notice how Gold and the ASX parted company when the GFC hit.
Safe port in a storm?
If we dont get a double dip with the GFC I can see the POG moving inversely to everything else till some level of equilibrium is found even if the bubble doesnt pop.