By the way..a bit of topic ,but did you read about what Warren Buffet said about investing in Airlines?
Printable View
By the way..a bit of topic ,but did you read about what Warren Buffet said about investing in Airlines?
You had your chance to buy TRY at 92c yesterday, Skol, to sell above $1 within a week (perhaps as early as today)..but because of your cynicism, you chose instead to ridicule those accuratley forecasting a bounce-back, and so now you are out of the money.
$1.10 by the weekend is very much still a possibility.
Meanwhile, I see you favourite barometer SPDR Gold Trust is no longer selling gold (835.71 is unchanged from last week) - why would that be do you think ?
BC
I know all about Warren Buffett and I know all about airlines, currently the most profitable investment on the planet with one or 2 exceptions.
Chart: gold vs airlines. lol
Discretionary spending, but for how long? We all have to remember that the world is on the brink of financial collapse, right?
You're incorrigable, Skol. My gold stocks are up between 5% and a whopping 14% today...and you think this spike is an aberration?
End of debate. Gold has bounced of its bottom in such a convincing way that IMO its good to go all the way to hit 1,300USD sometime next week.
Before today, an average of 12% since October (up 5% this year). After 4 hrs into today, now only ~4% since October. Yes, today they've spiked that much (and you don't see that as bullish?!). At this rate, I'll be back into good profit with my gold stocks by the weekend. Some already are, and if my selling strategy holds up well, I can recover most if not all of my past 6 week's losses by early next week.
In hindsight, I should've seen from the charts that the low of 1260 on 15 Oct was a lower low than the 1280 low early August, and that soon after its rise to 1360 the Bears would again regain control...for a month or two anyhow.
http://www.kitco.com/news/2013-12-10/template_jimw.htm
Gold is now consolidating...which was to be expected -- it's done so before after a meteoric rise and several months of retrenchment. Check out its history over the past 40 years.
Meanwhile, the bears are hiding...
From Bloomberg about contrarian bets in 2014:
Not every beaten-up sector is attractive to contrarians. The price of gold has fallen 25 percent this year to $1,246 an ounce. Gold mining stocks are down 50 percent. Manager Rudolph Riad-Younes of RSQ International Equity Fund (RSQVX) isn't interested. He says the price of gold historically has traded between 10 percent to 15 percent above its cost of production, but today it is closer to 20 percent. Worse, Riad-Younes expects the cost of producing gold to decline in the next five years, further driving down prices.
http://www.bloomberg.com/news/2013-1...to-copper.html
Well as we can see from the start of the thread skol after three years of being wrong you finally got it in 2013 (even though you won last year on my massive call to see silver close higher than $50)....
2014 the final $100 bet you still walk the talk or think its best to run while you've finally got gold to finish lower than the start of the year ?