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Maybe just a tad better, it's going to take a little longer to get over the botched trade this morning, that was a pisser, I knew it was bs, but suckered into the pop. Nice little bounce here.
Hard to believe Dusty was sweet sixteen a week ago, now she's 26, maybe next week she'll start menopause. :)
Hey NY, Nuggie is now below my average cost back in November 2013 of $35.89 as you might remember.
The mutilaton continues, put a fork in it.
Hey NY, I got wiggled out of gold (short position) this morning when it made a push to 1317, then it tanked, I place a few scalps, but was so ticked off that they bamboozled me, I decided to call it a night. Looking for a bounce on gold with one eye watching the Sony Open tennis with the other. :)
It's that time again......
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She's definitely putting out for you, great trade NR!!
Yep, there're mothers, get em!
Headfaking slackjawed mothers.
I read a couple of articles that said the shorties are piling back into the miners, maybe if gold goes up big today, you can get a short squeeze, ka-ching! We'll see, it could be a headfake, we'll see how gold stands up to the numbers out at 8:30.
Morning Kap, it was a battle last night, but I think gold is going to win today, the Asian's brought it up, the European's kept it up and the American's knocked it down after it hit 1317. According to the techno wizards, if POG breaks through 1318, game on to 1330. I'm on the sidelines until the durable numbers report.
GOLD Forecast – March 26 2014
http://theforexchampionship.com/analysis/forex-forecasts/gold-forecast-march-26-2014/
International gold prices hit 6-week low on poor physical demand
http://www.goodreturns.in/news/2014/03/26/international-gold-prices-hit-6-week-low-on-poor-physical-demand-250967.html
Fun facts about goldGold has always fascinated people, due to its scarcity but also for some other characteristics, such as that it never oxidizes. Below you will find some less well-known facts about gold.
Compared to other metals, gold is much softer. One can beat 1 gram of gold to a 1 square meter sheet and light would shine through that sheet.
Very few chemicals can attack gold, so that’s why it keeps it shine even when buried for 1000’s of years.
A total of eighty-eight thousand tons of gold have been extracted from earth ever since. This means all the gold that has been dug up so far in history would, if melted, make a cube measuring approximately 25x25x25 meters.
75% of all gold ever produced has been extracted since 1910; much of the gold mined throughout history is still in circulation in one form or another.
Gold is very rare compared with diamonds.
Gold is one of the heaviest metals in the world. For example, it is 19,3 times as heavy as water. One cubic meter weights some 19.300 kilogram.
The biggest gold nugget that has ever been found weighed approximately 90 kilogram and was unearthed in Australia.
Out of one ounce of gold (app. 31 gram) one can make a wire almost 100 kilometer long.
The word Gold derives from the Old English word Gelo meaning yellow.
The world's oceans hold a vast amount of gold, but in very low concentrations (perhaps 1-2 parts per 10 billion, which means every cubic kilometer of water contains 10 to 20 kg of gold).
In 2008 China overtook South Africa as the world's largest gold producer, the first time since 1905 that South Africa has not been the largest.
Switzerland was the last country to tie its currency to gold; it backed 40% of its value until the Swiss joined the International Monetary Fund in 1999.
Although the price of some platinum group metals can be much higher, gold has long been considered the most desirable of precious metals and its value has been used as the standard for many currencies in history.
Absolutely pure gold is so soft that it can be moulded with the hands.
According to some, there’s enough gold in the Earth’s crust to cover the entire land surface knee-deep.
No one is completely sure where gold comes from. The relative average abundance in our Solar System appears higher than can be made in the early universe, in stars, and even in typical supernova explosions. Some astronomers now suggest that neutron-rich heavy elements such as gold might be most easily made in rare neutron-rich explosions such as the collision of neutron stars. Since neutron star collisions are also suggested as the origin of short duration gamma-ray bursts, if you own some gold it is possible that you have a souvenir from one of the most powerful explosions in the universe.
It is estimated that at the end of 2009 there was a total of 165,446 tonnes of gold dug up. That boils down to some 25 grams of gold per person on the planet. According to calculations the total amount of gold yet to be retrieved from the Earth is about 100,000 tons.
At price of $1205.5 an ounce, the value of all the gold in the world is $6,412,310,567,488 or $958 for each person on the planet.
$6,412,310,567,488 That's why it's the biggest game on the planet!!!!! SA
http://www.ecrresearch.com/fun-facts-about-gold
Five Reasons Gold Has Been Dropping and The Most Likely Reason of All is #5
http://www.24hgold.com/english/news-gold-silver-five-reasons-gold-has-been-dropping-and-the-most-likely-reason-of-all-is--5.aspx?article=5325048838H11690&redirect=false&contributor=Bill+Downey
Wednesday's Economic Events
Durable Goods Orders
8:30 AM ET
PMI Services Flash
9:45 AM ET
EIA Petroleum Status Report
10:30 AM ET
2-Yr FRN Auction
1:00 PM ET
5-Yr Note Auction
1:00 PM ET
Good stuff BT, thanks, this is great news for gold bulls because it alludes to gold being used as currency, we'll see more of this, but the initial reaction to this news is somewhat disappointing, possible due the lag in the reaction time as well as the comprehension level of most traders. Gold is like the Titanic, she's the biggest game in town, moves slow, but when she does, look out.
It's always nice to have something that leads, I used /SI when I play gold futures, I consider it a leading indicator, because it doesn't carry all the fluff and static of /GC.
Wow these juniors move, DUST is up .005 and JDST down .92, what are you using as a leading indicator, is there a tradable relationship between DUST and JDST, do they follow POG?
Hey Kap, I agree small shares are fun to gamble with, what is the antithesist of JUGS, ala DUST in relation to NUGT, or do they have one?
Hey man, can't blame you, as an honorary member of the AT&T reach out and touch them club, it's hard for me to turn down JUGS as well. :) Remember the trend is down right now, so you're bucking it, you might catch an up wave, but no confirmation of a reversal yet, today looks to me like a dead cat bounce, most likely unsustainable. Now if there is a catalyst, which would support a fundamental reason to buy, but it seems gold has lost its luster again, temporary perhaps, but seems the fear trade is off the table, econ numbers aren't helping either, long seems to me a crap shoot at best.
No disagreement from me today, now you just have to convince the psychopaths that drove the darn stuff up.
Today's action summed up.
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It's that time again!!!!
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Hey NY, I would suppose the professor is lovin it, and saying "whose your daddy now?".
Usually with these leveraged funds there are no margin calls, they just pull the plug and it's adios muchacho.
Surely the cavalry will come out this afternoon, or not.
Intestinal problems I suspect. :)
Something must have angered the trading gods.
No one's defending gold today, it's been abandoned, maybe some bottom fishers might show up, trick is finding the bottom. BVN, bucking it, just barely positive.
Yeah, like the stock of a company going bankrupt, what a beating.
Yep, for sure Kap, you would have been massacred. Well, the trend was down on that 5 minute chart I sent you, but I didn't think it was this down!! :)
Monday's Economic Events
Chicago Fed National Activity Index
8:30 AM ET
Jeremy Stein Speaks
9:00 AM ET
PMI Manufacturing Index Flash
9:45 AM ET
4-Week Bill Announcement
11:00 AM ET
3-Month Bill Auction
11:30 AM ET
6-Month Bill Auction
11:30 AM ET
Richard Fisher Speaks
1:45 PM ET
There also was a time when gold moved up lockstep with our rich uncle's debt. Yes, perception indeed.
Hey TW, why do you think the Fed has designs on raising interest, if you owed $17 Tn, would you want to pay higher interest? Yes, we know the Fed is an independent, privately owned institution, laugh, but if our rich uncle has to pay higher interest to support it's debt, would that be detrimental to our economy, higher taxes, less growth and less corporate profit, less tax revenue...
Morning J, it all depends on the price of gold as you already knew, there is also the possibility of the reduction in your principle through what some refer to as decay, attrition, or re-setting, however, as a previous holder, I did not experience this, but I only held for a couple of months. It sounds like to me the worst is behind you, if you were white knuckling it when NUGT was in the low twenties, that must have been total misery, you're better than halfway home, but yes, 60 is better than 45, but a loss is a loss, and if you have patience there is a possibility that NUGT will return to a semblance of its former glory. A technician was on CNBC the other day and predicted gold to go to1500 sometime this year, because the miners move higher percentage wise relevant to gold as a rule of thumb, then add the triple leverage factor, I'm guessing NUGT will then be trading close to your entry price if gold reaches his target. Will gold do the tankola back to 1188, let's hope not, but one thing I've learned trading the shiny stuff and studying its history, is anything is possible with that crazy metal. GL
SA
You must have up a couple of bucks this morning, yep I know how it goes with those twins, I've learned to take my money and run, they are hard to swing, even harder to daytrade. I'm guessing that gold will have a run EOD, I don't recall triple witching that influential in twin trading. I hope they didn't burn you too bad. :(
Hey Kap, I've never watched those juniors, do they trade different than the twins, this should have been a good day for the miners? I show Nuggie positive, but off her highs, must be triple witching, whacky mothers, gold is up today.
Those triple witching spikes took out your stop, I was hoping you would be in and out this morning or after hours sell as shorties take profits, darn. Sorry Kap. :(
Yep TM, no doubt that's where it eventually is headed and most likely above, but it's those diversions from the course that I worry about which can be like... ;)
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