Could you post a reference to that recent poll's vote today? Tks...have been waiting for "the results" of the poll today, but couldn't find any internet reference to it!
I w#$%$nted to invest in some c#$%$ll options here, but even with this impressive percent#$%$ge g#$%$in, it's kind-of lousy. Problem #$%$s I see it, is you#$%$ h#$%$ve to h#$%$ve convincing $1,300 POG for this to re#$%$lly fly. If this is #$%$ short-cover r#$%$lly, then th#$%$t could be the re#$%$son for the slow-go here. There #$%$re so m#$%$ny doubter here, #$%$nd #$%$lthough I've been #$%$ long-term gold bull, even I got sh#$%$ken-out of th#$%$t l#$%$st thr#$%$shing, simply from looking #$%$t the long-term historic#$%$l POG ch#$%$rts, th#$%$t point to $1,100, $1,000, #$%$nd worst c#$%$se $700. But the kicker is th#$%$t the POG of Gold is bouncing be#$%$utifully off the '06, '09 bottoms, #$%$nd m#$%$ny, MANY of the miners #$%$re showing impressive #$%$nd huge volume off multi-month/ye#$%$r double-bottom lows. I'll tell you FEAR is your worst enemy, #$%$nd I'm kicking myself into the dirt for selling too soon here, for fe#$%$r of bre#$%$king-below into never-never l#$%$nd:$700-1,100! (Not this stock/option but #$%$nother gold pl#$%$y I'm been eng#$%$ged#$%$ Here, if I were buying str#$%$ight-up sh#$%$res, I wouldn't h#$%$ve so much fe#$%$r, but the c#$%$ll options on this thing m#$%$ke me nervous b#$%$ there's h#$%$rdly ANY ACTION/volume! You're #$%$lmost b#$%$sic#$%$lly buying them for being deep in the money ne#$%$r expir#$%$tion.
I would if I thought gold was undervalued, but the stock market's Fed-induced run could end soon enough, then what? Gold at $1,400, yeah, great short, but there's too much "funny-business" going-on, to feel comfortable shorting here at this level. If they really intend/can get it to $700, then yeah, great short, but we're not too, too far off Goldman's $1050, and that might be the best they can do, before, eventually, the Market runs-out of QE-run steam. It weird though, b/c with the 10-year down stuck around 2.35, and oil looking like $75 for sure, there seems to be a "deflationary bias", and that doesn't bode well for gold, unless it becomes a headline issue.
Still, can you imagine holding big short-gold positions if Switzerland approve their gold-standard referendum?
You'd like to thing so, but as you've "just witnessed this morning", there is big-big money, major Goldman/JP-Morgan naked-paper shorting going-on. It's Geo-political in nature too. We want the strongest dollar possible, to derail Russia, and now that we've handed-off the QE baton to Japan and Europe, the big-boys want to diminish gold to next to nothing, before the go long and pick-up people's discarded shares.
Ask your self this, what happened today around 10:am, once the Yahoo-Finance headline went-up, and the short-machines gained full power, and all heck broke lose, and we've back to "$700 gold talk again"! In the blink of an eye! The only, ONLY thing that can save gold now, imo, is the Swiss gold standard vote on the 30th of this month! Otherwise, we are up against principalities and powers, a long gold position doesn't have a chance against! All imo!
Notice how the $700 Yahoo-Finance Depression Headline went-up right when Goldman/J.P. Morgan turned-on their short-machines! This is too funny! And you thought the markets were fair-and-even! The more I see of this game, the more I want to NOT PARTICIPATE!
Larry 11 minutes ago
Wow, this is about the 5th anti-gold article on Yahoo since Sunday. Are they trying to scare the Swiss from voting for the gold referendum on the 30th or what? With such a small percentage of the US population even owning a single ounce of gold, they sure spend a lot of time reporting on the speculation that gold will supposedly go down in price. If this isn't an agenda they are trying to push then what is?
Ever wonder why Goldman's $1050 call seems so prescient of late? Ever wonder why the "financial press" feels so compelled to tell you, nearly every-day (looks at today's Yahoo Home Page, and see this: "With dollar on a tear, gold and silver rout far from over" - Reuters poll
Ever wonder why these articles are repeated, ad nauseum, every-single day, bar none! In fact, why does Gold seem to get so much press, if it's so "non-relevant" for today's "dollar action", Fed-policy, and other affective issues! One would think it would just "die into oblivion" and return to it's sub-$800 place! But for some reason (explained below), you'll see why there is this huge concerted effort to highlight and diminish gold's value, almost in some Machiavellian, sinister zeal to reassure folks that King Dollar is indeed king!
Thank Gold-i-man, aka Goldman-Sachs! They will get their $1050 gold, b/c that's where that's the level at which they set their machines!
A touch bit upset, no! If you can't be HAPPY now, you'll have a hard time being HAPPY later!
Au Revoir mi amor!
Damn, those G/S black-boxes are smok'in hot! But still not where I want it! LOWER PLEASE, while the economy is still HOT-HOT-HOT!
ps: How do you take $2,2730 gold and take it to $1050 in roughly two months? Watch what can be done when the machines are "so finely tuned"!
The problem as I see it right now, is that stocks aren't high enough, and gold's not low enough! So, bash-it-down, and talk-it-up! Economy is shinier and brighter than I've ever seen it in my life! Why would anyone want to one a worthless yellow metal under these boom-times with no inflation? Never mind Chine just infused their banks with $700-billion cash injection to keep things afloat, Europe's teetering on Recession, Vladamir is moving his rooks fast across the board, the real work-force participation rate is dismal here in Boom-town USA, dollar stores abound, people are working harder-and-harder for less-and-less, unless you got injected by Bernanke-Paulson-and Co. Millenials are swimming in debt up-to-their-ears, and actually paying for internships! Total US-debt is rock'in near $18-billion! But don't worry about the facts! We've got Baba and Facebook providing tons of jobs to workers the world over!
I predict this vibrant, booming economy will last until October 28th, 2014, that's when Yellen must deliver the news that, "sorry boys, we can't backstop you like before", the myth of $15-billion-more-a-month was just a litmus test to gauge the Markets. Things are too good for us to increase our balance-sheet beyond the $4-trillion we've already inflated your assets. But we probably won't raise rates until 2016! Let's see how "BOOMING" the Markets take that news!
Please keep sinking-sinking-and-sinking! Please oh please...I want CHEAP...not there yet, but waiting patiently! Do your job short-trolls PLEASE! Let's have a chorus of "lemmings, told-you-so's and other tasty refrains! I'm waiting!
It's not "the gold company" that's the problem, it's the GS-promise of 1050 gold eoy, and a booming stock market with absolutely zero inflation.(odd how the Market's can boom with dis-inflation, hay! Welcome to QE-effects and taper-tantrums!) You don't think they make those calls lightly and foolishly do you? You realize they have great power to pressure the gold Market? They are doing an excellent job of having Paper-Holders believing "all is well-and-dandy" in the financial world, and the end of QE will be seamless and smooth! Yet, when did the Market turn-on-a-dime? When one Fed mole mentioned that maybe QE wouldn't be ended so soon! That's when the Market's jerked some +300points in the blink-of-an-eye! They gave it all back the next day, then have proceeded to remain relatively calm, giving the appearance that, indeed, all is well, and Fed-paper is the Power and Place to Be! Let's see what happens during the Oct 28 pow-wow, and can you imagine if Yellen folds and lays-down an empty Fed hand, and takes the Market's crack away? Don't be FOOLED, imo! All is not so rosy and well, except for the Wall-Street elite. I know corporate stiffs that are suffering in this economy, yet both spouses are working at Fortune-500 companies, raising x3 children in private schools, and living in a nice neighborhood, but are essentially broke!
What should carry the Markets to record highs are "plenty of good paying jobs, with lots of participants, fueling the consumer-society"! Instead, we've taken the upper-middle-class, and turned them into working stiffs, hanging their hopes on retirement, if there is one, and if they aren't down-sized out of the program.
I'm not buying the GS/Fed cool-aide, and I see a double-top on the Dow and lots of pain to come! Gold will rebound when "the herd" finally disbelieves the QE-beneficiaries that keep shouting how good things are! Or until the masses grow-a-big-sack, and say, "enough's-enough"
Wow, wonder what will happen with a gaping hole? Goldman said "all is fine-and-well", as the Fed winds-down! What's "fine-and-well" with a 2.31% 10-year? Oil looking like it's headed to $75? Europe looking like recession? Japan-stagflated and China slowing? Never mind the noise, as Lawrence Kudlow says, "King dollar is here (funny how his Goldilocks economy came under socialist Obama, never a Republican admin.!) "Buy-buy-buy yesterday's dip"!~ What a joke!
Don't you find is just a smidgeon odd that the Market stars tanking in Oct? Small coincidence huh! I guess it just so-happens that the Fed won't be buying any more MBS's and such, and the time when the big-banks can play with Fed money is getting less free! I thought the banks were supposed to be lending-out that Fed money to consumers? Instead, what did they do with the $4.5 trillion? They loaned-it-out to Corporate America, so the uber-rich could get richer still, and the big-banks could lever-up their balance-sheets, and play with Fed-money, guaranteeing them a "non-losing proposition" by parking free money at the Fed, and by playing the stock market! That is, until October...and until the Fed won't be supporting the Market to such a degree! Now the Market will throw-a-tantrum, and force the Fed to extend the party, or else! Stay-tuned sheep-le, this is how we give-away the storehouse USA to the very forces that stole-your-house, and put you in bankruptcy! How come we didn't get rescued like all the other corporate entities? Not only did they get rescued, but that got free reign of the Fed's no-limit, guaranteed credit-card! Go figure!
One more tid-bit of note, you'll remember how Goldman placed their $1050 gold target against the backdrop of a "sound, robust, healed, stock-market", with a soaring dollar, Fed ready to slowly raise interest rates back to pre-crisis levels (yeah right, as if they'll be able to do that anytime soon!) cheap-gas for all, and corporate profits (a la more corporate buy-backing than consumer-driven, imo) coming-out the wazoo! Well, let's monitor how "soaring" the Market is and will be without Fed-bond-buying!
I hear you, and my sentiments exactly; Pro-traders have already said they expect a bounce from recent lows that they will short on the top, to achieve the Goldman-Fed target of $1050 eoy; We are simply "sheep-le", losing our homes to G/S, Bank-of-America, giving our hard-earned coin to Bluffet-and-Co. This is an un-real rigged-game, and naive American stock consumers like to think it's a "free-and-fair market". Just ask verteran bank compliance lawyer Carmen Segarra, former Federal Reserve bank examiner, about the relationship between Goldman-and-the-Fed. Might as well say, Goldman-is-the-Fed. (she secretly taped conversations among the Fed about Goldman, where it was weirdly heard obyFed-members saying to "go lightly on saying anything negative about Goldman, as we wouldn't want to upset them at all"; This after Loyd Blankfein lies before Congress about G/S's complicity in the CDS/CDO mortgage bank fraud, the fall-out we're still suffering through.
The only way this game doesn't go according to the Big-Bank-Fed-Bed's plans, is if the "no-more-asset-buying" scheme is met with outright Market turmoil, and the Fed is forced to taper-the-taper, and re-ignite more asset purchasing. This is a real possibility, and don't be so naive to believe there's no correlation between the Market's swoon of late, and asset purchases ending this month! And don't even mildly consider what actual rate increases would do!
We'll see, but I still contend there will be a big day of reckoning, when the Fed's $4.5 balance-sheet, will have to be accounted. Looks like it's already started!