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cbwang888 (25.80)

Buy this gold dip

Recs

16

December 14, 2011 – Comments (21) | RELATED TICKERS: UUP , GLD , SLV


Gold @ $1580/oz recovered $20+/oz after massive selling @ LME trading hours. All of the sudden gold is not a safe haven and USD is? Future traders are taking the FOMC meeting as a trading opportunity and it happened last time after Fed's operation twist. Silver dropped from $42 to $26 in 3 days !!!

 

Central banks oversea will be buying gold as US debts is also in its insolvency even though it has no problem borrow more (with the Fed's buying).

 

EU is now dealing with its pain, even though the problem is difficulty in execution. Lots of criticisms but at least it is  trying to deal with their issues.

US is now encouraged by the market to borrow more with stupid low yield rates on T-bonds. It is a crowed trade and it will eventually become a bigger problem than sovereign debt crisis in EU zone. Silver $26 ~ $28 is a buy, too ...

21 Comments – Post Your Own

#1) On December 14, 2011 at 1:48 PM, outoffocus (24.47) wrote:

Agreed...

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#2) On December 14, 2011 at 1:59 PM, whereaminow (75.43) wrote:

Concur

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#3) On December 14, 2011 at 3:26 PM, Valyooo (99.79) wrote:

Gold just broke below the 200 ma, which it has not done in a very long time...i dont like the short term

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#4) On December 14, 2011 at 3:40 PM, centsornoncents (21.52) wrote:

I agree with Val, UUP looked like it had hit a double top signalling a short while the S&P and GLD had both a bullish flag pattern signalling upside. But today all have broken out to the opposite direction meaning that the short term (or the rest of December) is looking very ugly indeed.

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#5) On December 14, 2011 at 4:07 PM, XMFSinchiruna (28.57) wrote:

I'm not a fan of the ahort-term picture either. I'm clinging to my small cash position in hopes of finding some even deeper bargains in the days and/or weeks to come. I dabbled in a couple of purchases but nothing major.

But some bargains are just screaming out:

AEM below $40!

CPFXF below $1

CDY below $1

RBY below $3.40

etc.

Stay the course, Fools ... this period of weakness remains a temporary reversal within the unbroken long-term bullish trend. As I recall saying repeatedly during 2008, a loss is only a loss when you sell it. :)

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#6) On December 14, 2011 at 4:21 PM, whereaminow (75.43) wrote:

Agree 100% with sinch.  I fired some bullets today, just a few. Not the whole clip.  If it keeps sliding, I'll keep firing until I empty the clip. (Don't worry for me, it's not my only clip =D)

David

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#7) On December 14, 2011 at 4:38 PM, motleyanimal (97.57) wrote:

The only bright spot in my portfolio today was CROCF.PK.  An interesting buyout situation is developing which is worth looking into.

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#8) On December 14, 2011 at 5:21 PM, Valyooo (99.79) wrote:

I sold some gold and bought some SLW

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#9) On December 14, 2011 at 5:26 PM, cbwang888 (25.80) wrote:

The bottom of gold and silver seems to depend on how they decouple from euro crisis, the risk on or risk off crazy trading. Everything other than USD and T-bonds are risky, the maret want people to believe. That may be so for short term but definitely not for longer term ... 

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#10) On December 14, 2011 at 5:28 PM, Frankydontfailme (27.37) wrote:

RSI below 30 http://stockcharts.com/h-sc/ui?s=%24gold

and touching the uptrend line http://stockcharts.com/h-sc/ui

Quite oversold. 

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#11) On December 14, 2011 at 6:01 PM, motleyanimal (97.57) wrote:

There has been a steady stream of commodity gurus on CNBC today, most of them predicting a $1450 to $1470 bottom. Some even as low as $1350. Fear mongering at it's finest.

So don't touch gold. You'll get cooties!

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#12) On December 14, 2011 at 7:07 PM, buffalonate (96.81) wrote:

The only way Europe survives is to print money or to balance their budgets.  Printing money is the far more likely outcome.  The U.S. will be printing money for years because our politicians won't balance the budget either.  Long term I think gold goes higher and I am not a gold bug.  Inflation is inevitable.  I am buying if it goes below $1500.  If it goes lower I will buy more. 

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#13) On December 14, 2011 at 8:33 PM, cbwang888 (25.80) wrote:

US Fed print money to buy junks from FRE/FNM, MBS, lending to banks and T-bonds.

ECB cannot do that because every country in EU want free stuffs for nothing. Do they buy debts based on each country's GDP or what? Technically, it is quite hard to implement ...

 

 

 

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#14) On December 14, 2011 at 10:25 PM, motleyanimal (97.57) wrote:

http://www.commodityonline.com/news/ubs-on-gold-prepare-for-explosive-moves-in-2012-44243-3-1.html

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#15) On December 15, 2011 at 12:15 AM, SN3165 (< 20) wrote:

Stay the course, Fools ... this period of weakness remains a temporary reversal within the unbroken long-term bullish trend. As I recall saying repeatedly during 2008, a loss is only a loss when you sell it. :)"

Yup. I know you all know this, but I just want to hammer this point home.. many of these gold/silver miners are still VERY profitable with a $1500 gold price and silver miners with a $20-25 silver price.cash flows in tact. 

the explorers and non-operators may be a different story, I don't know. Mosthopefully have the cash to ride through this storm.

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#16) On December 15, 2011 at 12:22 AM, SN3165 (< 20) wrote:

Id like to add to the list of undervalued ridiculousness, Sandstorm Metals and Energy at .35 cents. They have cash flow guarentees in place (and have cash) worth checking out. Also impact silver got hit pretty hard.

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#17) On December 15, 2011 at 1:54 AM, SN3165 (< 20) wrote:

Add to the list: Pilot Gold at less than a Buck. Last time I checked they had something like $20 million in cash. Putting together a short list of these could make for a great post

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#18) On December 15, 2011 at 8:14 AM, johnybottom (< 20) wrote:

Just an added note, weak silver prices will actually HELP Primero Resources. With their current contracts in place they are paying tax on the spot price of silver while selling it at a hedged price. Ideally this will lower their tax expense.

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#19) On December 15, 2011 at 11:49 AM, SN3165 (< 20) wrote:

Zone     Indicated ounces     Inferred ounces     Number of Holes Included     Number of Holes Pending 147     43,820     351,910     86     59 Contact     72,890     107,510     169     36 TOTAL     116,710     459,420     255     95

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#20) On December 15, 2011 at 11:50 AM, SN3165 (< 20) wrote:

Brigus Increases Black Fox Complex Resource by More Than 50% in Initial NI 43-101 on 147 and Contact Zones

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#21) On December 21, 2011 at 11:44 PM, SLTFATF (< 20) wrote:

I was trying to decide whether to sell some of my silver bullion today.  Twice I decided to pull the trigger and sell.  Both times, as soon as I mentally made the decision to sell, my dog started barking at me.  So I didn't sell.  Yes, indeed, I am allocating my assets based upon a deep belief in canine psychic powers.

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