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GameStop Corp. Message Board

  • unseennc unseennc Jan 29, 2008 9:05 AM Flag

    O/T anyone having problems with Scottrade site?

    seems like its down

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    • yeah but heard some addtional news tonight. says central banks are done selling gold into the market. Also a lot of people are short gold. this could give a quick sharp short squeeze. With the Fed cut/short squeeze and lack of supply gold may see a blow off top in the next week or two. A 10-20% % quick move up will be a good sell signal since this will signal the shorts finally giving up oon their shorts.

      Bottom line I think there are safer ways to make money at the moment. huge upside and huge downside potential. I wonder if a chicken option stratgey might be a good idea. Buy in the money calls and out of the money puts or the opposite..hmmmm have to look into that one. Wonder what the premiums are.

    • The inability to buy GLD puts is unfortunate. That would seem to be a good trade. Going with the miners should also work though. Gold can go up forever. It's definitely due for a correction.

    • yeah $1.12. Not sure last time the options did not follow the price. since the stock is down to 18.50 (last time I looked) i would say at least $1.80 possibly $2.00 maybe more. depends on the rest of the market too. I smell a selloff before the FED meeting. possibly a down opening of about 50.00pts on the dow and a slow selloff until the earnings. Don't see much reason for buyers to come out of the woodwork until about 1:00pm. Low volume is great for bears.

    • yeah thinking of it but they don't have options I believe. Will probably more than likely buy puts on NEM. people forget that all markets are auctions and thus are ultimatly controlled by supply and demand. doesn't really matter how far the dollar sinks if there is a huge glut of gold on the market the price will fall regardless of the underlying stories. This was shown in recent selloff of the market. It was a buyers strike more than anythinng esp last tues. Fear causes that, over supply causes that and taxes cause that among others. I think supply is going to balloon with gold. All those that bought it at $300.00 will not buy more at $900.00.

    • I'll be watching SBUX for sure. If we get a run up, I might have to short it.

      Any ideas on what the YHOO puts will be going for tomorrow? I am guess you bought them for like $1.10.

    • Sounds like an informative piece. I've been thinking about shorting gold for a while now. If it hits $1000, I'll definitely pull the trigger. Are you thinking of shorting the GLD?

    • Yeah there is that hope trumps facts for a time. If the numbers are real bad which after MCD, Hersey's etc they should be then it should sell off. but it will be like yahoo at the close I think.

    • In a nutshell. India buys about 30% of the gold on the market. Most of this is for weddings. gold is big for weddings in India. Well with the runup of the price of gold tthat demand has dried up and now women are using other types of jewerly like diamonds etc. And there was more. the housewives are trading in their gold at these price levels. Signs of a top? Sounds like the 1980's with people lined up atround the block to trade their gold. While the story for gold is the same and the mines in south Africa being off line the price of gold has stayed about the same level for the last couple of days. when the Fed cuts Gold will be fully priced into the present circumstances. goldminers are not rallying into the increase of the gold price. Traders say that the miners will catch up but what if gold catches up to the miners? Looks like a short setting up for gold. People thinking it's going to 1000. they thought the same about oil. while it eventually got there it retraced first.

    • They said SBUX could get a mulligan this time around because of the new CEO. That's the only thing that worries me.

    • Tech is tough right now, although stocks like CSCO and EMC look pretty cheap right now. I almost bought EMC at $15 last night after VMW caused a 10% drop, but couldn't bring myself to do it before earnings. EMC could be a good short term trade.

      I didn't catch the gold story. Was it good?

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