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Morning N, I was wondering if those 2016 calls rise/fall exponentially with the current price of ABX, or kind of do their own thing, that being said, were they worth considerably more when the miners made the big upside push earlier this March?
Hey N, I would think that the POG holds the key for ABX's performance, forward looking, their debt seems excessive, yet apparently manageable at the present time. I don't care much their debt to income ratio, but they are flush cash right now. The big question is what is their cash burn and can it survive a downturn in gold prices. The good news is that they are considered by some to be one of the best of breeds in the mining sector. Hopefully you bought the calls on the cheap and are not out of the money, I remember from your prior posts that you have a knack for the options game and certainly know your stuff. Sorry, nothing new from my side of the camp on this one. ;)
CNBC is the lemmings choice for information because it epitomizes "mainstream media", heaven forbid anyone thinking about raining on their parade, I'd like to hear exactly what got deleted.
The Next Revolution in the World of Cryptocurrencies?
Why would this not replace the world's bloated fiat currencies looking forward?
http://www.prnewswire.com/news-releases/the-next-revolution-in-the-world-of-cryptocurrencies-252622471.html
http://www.bitcoinfeed.net/news/announcement-gbc-gold-backed-coin
COMEX Commercial Traders Covering Gold Shorts in a Hurry
http://www.gotgoldreport.com/2014/03/comex-commercial-traders-covering-gold-shorts-in-a-hurry.html
Former U.S. Mint Director Edmund C. Moy: Fed Tapering Makes Case for Gold as an Asset Class; Gold Due for Robust Gains
http://www.gold-eagle.com/former-us-mint-director-edmund-c-moy-fed-tapering-makes-case-gold-asset-class-gold-due-robust-gains
Weaker Gold Prices Seen For Next Week -- Survey Participants
http://www.forbes.com/sites/kitconews/2014/03/28/weaker-gold-prices-seen-for-next-week-survey-participants/
Our press thrives on sensationalism to drive revenue which in my opinion is as bad as state media censorship.
Gold: History shows the best time to buy is March
https://www.blanchardgold.com/investment-news/the-longview/gold-history-shows-the-best-time-to-buy-is-march/
Morning NY, I've been playing gold futures day and night, always with an eye on live streaming news and I haven't noticed any price movement of late on Ukraine goings on, so it appears to be a nonevent, that being said, maybe it's time for gold stand on its own merit, irrespective of the sensationalistic press. The most interesting events relevant to gold's price action for the week occurred on Friday when POG reacted to a .50 decline in consumer sentiment rocketing off the low, its resistance to incessant selling attacks and finally adding 2.00 on futures close. Lots of funky things were going on that affected POG this last week, most notably the expiration of the April futures contract, which, I may add really screwed up my trading schemes, mostly due to the competing contracts (April/June) algorithmic balancing, resulting in increased spread between bid and ask, crazy volatility and diminished volume. Thursday I gave my Itchyfinger a rest, bought before the close and used your Goldfinger method of holding, I realized a 4.5 gain, which should have been 8.0, but I got lazy and didn't ratchet my stops and got spanked by a 3.3 Fatfinger drop when POG hit 1299, mothers. I'm thinking next weeks pin action will be back to normal, which is certainly a contradiction of terms. I can't see any technical reason holding back a rise in gold to to the levels you forecast, which would be about a 30% retracement, so I think you're safe on your bet right now, only question I had was why you tossed ABX into the equation.
Two More Reasons to Be Bullish on Gold
http://www.dailygainsletter.com/precious-metals/two-more-reasons-to-be-bullish-on-gold/2908/
Ukraine crisis: Russia vows no invasion
http://www.bbc.com/news/world-europe-26799326
Gold prices sink to six-week low | Sky News Australia
http://www.skynews.com.au/businessnews/article.aspx?id=961938
Ukraine crisis: Putin and Obama discuss diplomatic plan
http://www.bbc.com/news/world-europe-26795627
Ukraine crisis: Putin and Obama discuss diplomatic plan
http://www.bbc.com/news/world-europe-26795627
I think this is what you're looking for N.
http://investorshub.advfn.com/GOLDBUGS-Gold-Spot-(FOREX-XAUUSDO)-COM-GC-Z14-3386/
Hey MT, 10,000 or 100,000 Russian troops on the border, depending if you listen to the Ukrainian thugs or our government's bs artists.
Okay fine, but my question is why Russian military helmets look like flower pots, they should do like the US and copy the German design. ;)
We'll, one thing is for certain, one should have an open mind, that being said, all bets should be on the table, including the possibility of further incursions by Russia, this could blow over in a day or escalate into the mother of all crises.
Seems like several are playing with JUGS these days, enjoy!
Long gold futures or Nuggie NY? Looks like 1293 held, they may attack AH, we shall see, fun and games with futures over at 5:15 pm est.
Tough to predict such things, but Russia would be wacko to invade, that's for sure.
Or the miners head back to the forties and gold follows, gold's rather lame right now in comparison to the miners.
Yep, crazy pop this morning on Sentiment Index - Level consensus 80.5 actual 80. Not much to base a rally on imo.
Hit a high of 1299 and now the big tankola on the US watch.
Friday's Economic Events
Personal Income and Outlays
8:30 AM ET
Consumer Sentiment
9:55 AM ET
Esther George Speaks
1:15 PM ET
Farm Prices
3:00 PM ET
Yep, lots of fuss involved in mining, the whole sector is undervalued, especially the shiny stuff. :)
Hey TM, right now I'm wondering if the darn stuff has a bottom. :)
Yeah, missed by a tad, I got in @ 1290.30 exited @ 1292.10, was expecting the shorties to sell it down, now looking to re-enter @ 1230 and see what happens AH, it (AH) was sure good to you last night, 7 pointeroos.
Old Chinese proverb say, "Never call a bottom before 3:00".
There goes my bottom, silver lead the charge down.
I'm calling a bottom of 1291.30, it's either right on or not. :)
Cause for celebration, mothers.
The shorties are relentless and fearless, I hope they get roasted, yep, I'm bullish as these levels.
It is obvious to me that the so called "frothiness" is coming out of both the equity and futures markets, but at $100 above a triple tested bottom, I'm having trouble believing that gold is frothy. Lunchtime games BTW.
NY are you out there in cyberland?
Manipulation is the concerted effort of individual(s) to excert influence in an effort to effectuate a desired result.
This just might be another good day sit back watch, it's wacko out there until the futures expiration nonsense subsides. It seems obvious the the bulls are outgunned by the bears today, at least for now, every pop is decimated, I'm sure most of the bulls are dazed and confused right now.
Silly thought perhaps, in gold we've made a 50% retracement from this rally's high (1398), 100 points, another 100 points will get us to near reversal bottom (1188). Low today was 1291, maybe this is an inflextion point and we will catapult to record highs, or not. BTW are we supposed to buy the dips or short the pops, or just sit there and watch the idiots in action? :)
Hey Kap, yipe, that video was shocking!!! :)
Well, lately I've adopted the urge to stab it in the neck, thanks for planting that thought. :)