As I indicated, gold heading back towards $16.
Gold is only a short-term play. But very predictable.
I would not short NEM below $19, as you
suggested..but I will anytime over $20.
I look forward to
buying back NEM in $16's.
You should take
advantage of rallies to take profits.
``I do not think the United States should sell
its gold for a whole host of reasons.''
reason is that gold still represents the ultimate form
of payment in the world,'' he said. ``Gold is always
accepted ... and is perceived to be an element of
stability in the currency and in the ultimate value of a
So, please gather up all of the worthless yellow
metal you have around the house - wifey's chains,
rings, etc. - and send it to me! I will pay the postage
and help you get rid of it.
Gold is the only
exchange vehicle that has been used for commerce
consistantly for over 5000 years. Your arrogant condemnation
of gold is typical of current thinking in the
marketplace - any concept that wasn't invented in the last
few years is obsolete. Paper money is a useful tool
in the modern world - but put it in perspective -
have you ever read about what happened to Deutch Marcs
in the 30's????
Just read today's news - even
one of gold's greatest enemies, Robert Rubin,
admitted that it is the only reserve instrument that is
guaranteed to be accepted anywhere in the world.
to punish myself for not having bought yesterday
at a better
price, I bought today @ $19 3/8, I'm
using my profits from WAG.
At least I'm shoting for
$20 1/2, if that does not work, I'm
double at around $17. One thing is evident here,
won't stay put, I like volatility.
Are you crazy! This stock is going to drop to the
$8-$9 range. Gold is plummeting! Who needs gold
anymore? Most countries are getting rid of this stuff
about as fast as I got rid of my disco albums in the
late 70's. It is a useless commodity, some shiny stuff
someone said had some value a thousand years ago. You
heard it here first.... Gold prices will drop,
companies will cut back or sell. Get your resume ready!
This stock belongs on my tiolet paper roll in the
guest bathroom (Notice, I doesn't even deserve the
master bedroom.) Nothing but tough times ahead!
Haven't seen gold this low since last August. I
am neither long nor short now. Gold has plunged hard
and fast the past couple of weeks. I almost bought a
few thou yesterday when it sank to 18 1/4. Usually
when something plunged this fast there is a rebound.
I am surprised that NEM is still at 18 7/8 last
time gold was this low NEM was trading at 14. If gold
dips to $265 in the next couple of weeks I will go
long on some gold stocks. NEM,AEM, and maybe a dash of
I missed buying in the last time at 16 3/4 ( sat
at my desk and just looked at it). but I did go
short at 23 when the CB's announced sales over the next
three years. Probably won't cover now until it peuks
and dips into the low teens (watch the 10week MA)Be
carefull buying on dips but good luck.
Check USA today(5/20) (front page of
Moneyline)...lowest price of gold since 1979....hmmm
Was it your short covering which caused the
massive turn around in gold stocks? Nice of you to show
up by the way now that gold is struggling, but you
seem to be good luck (witness the rally!) I know gold
offers no great growth prospects long-term, but with it
at 20 year lows, underowned by mutual funds, (what
IF Fidelity Magellen put 5% in gold stocks as a
hedge?),something that wouldn't surprise me given the managers
Stansky's comment last week about the stock market being
overvalued; inflation and Asia coming back, wars, Y2K hype,
record gold sales, and CNBC and gold execs talking
publicly about gold's price being manipulated, if you hate
gold, stay out, but I think losers short it here!!