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alstry (36.37)

Gold $3000

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19

February 11, 2009 – Comments (13)

Yep.... that is my call. 

And sooner than you may think.

Am I a gold nut......not a chance.......

But with so many worshiping the yellow metal.......the church of gold will likely shine......and $3000 may be conservative.

We could see a parabolic rise in the not too distant future.......

Do I have anything fundemental to back up my projection....NOT A SINGLE THING!!!!!!!

It's just Alstry is sitting at the table....and he is reading the eyes of the other players.....

My guess is that they are about to go All IN!!!!

13 Comments – Post Your Own

#1) On February 11, 2009 at 9:36 AM, REITDUDE (84.88) wrote:

...can't wait to see the debate this one starts.

 What about platinum?

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#2) On February 11, 2009 at 10:01 AM, EHoyle80 (< 20) wrote:

Most people are very bullish on gold, I read something very interesting in an article titled ‘The U.S. Dollar: Waiting to Tank Gold’s Run?’ – (http://seekingalpha.com/article/118999-the-u-s-dollar-waiting-to-tank-gold-s-run) – Matt McAbby says that those who bet against the U.S. dollar by buying gold play a dangerous game. He asserts that despite gold’s current giddy rise, historical data points to a continuing inverse relationship between the precious metal and the reserve currency – both cannot continue to prosper for long. Given that signs point to an even stronger U.S. dollar, watch out, as “The negative correlation has been delayed. But it will not be denied!”

Via Stock Research Portal (www.stockresearchportal.com)

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#3) On February 11, 2009 at 10:14 AM, djemonk (< 20) wrote:

I believe gold to be in a bubble.  I don't think we'll see $2000/oz before this one bursts and it comes back to earth.

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#4) On February 11, 2009 at 10:23 AM, alstry (36.37) wrote:

Let me make a couple Alstrynomic positions clear.....

1.  I don't think the dollar will get weaker....rather I think it will get stronger....much stronger against other currencies.

2.  I don't think hyperinflation is a concern right now....actually the opposite....massive deflation.

3. $3000 gold could be just a starting point.....we could easily see $5000 or higher

4. As far as America being Zimbabwe or something like that....very little chance....please see 2 above.

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#5) On February 11, 2009 at 10:24 AM, RainierMan (73.60) wrote:

Not sure if Alstry liking gold indicates a top or a new move up, but it's an interesting change.

Gold isn't about the dollar tanking, it's about worldwide uncertainty and fear and every country trying to trash their currency. That said, inflation might be another reason to be in gold eventually. Just not right now.

I do think knowing when to get out could be a challenge, but not getting too greedy should help. 

 

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#6) On February 11, 2009 at 10:42 AM, cbwang888 (25.58) wrote:

I thought you call gold bugs nuts last month and think gold with go down along with deflation. What make you change so fast and now calling gold for $5000?

It haven't even break the last high yet. 

I think gold can reach high $1000 to $2000 by the end of this year, though.

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#7) On February 11, 2009 at 10:51 AM, Jimmy2008 (< 20) wrote:

What about silver?

 

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#8) On February 11, 2009 at 10:58 AM, cmoney85 (< 20) wrote:

Anyone know what gold did during the great depression?  

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#9) On February 11, 2009 at 11:06 AM, XMFSinchiruna (27.10) wrote:

no comment. :)

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#10) On February 11, 2009 at 11:52 AM, djemonk (< 20) wrote:

Anyone know what gold did during the great depression?

I believe it got confiscated by the US government in April 1933.  

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#11) On February 12, 2009 at 3:46 AM, mliu01 (< 20) wrote:

LOL,

maybe to you, there is no fundmental reason for it. But for people like me, we saw fundmentals writing all over the wall when it was 500.

 

Silver and gold. Platinum sucks because of Palladium.You can do some research on those two.

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#12) On February 17, 2009 at 5:03 AM, shffl (< 20) wrote:

how does gold perform well in a deflationary state when dollars strenght is increasing?

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#13) On February 17, 2009 at 10:42 PM, tonylogan1 (28.27) wrote:

Seeing anyone call for Gold $3000 makes me feel ok that I shorted DGP this morning (after it ran up already).

I think too many people "know" it will test its previous highs at 1000, and are planning on selling right when it touches 1000. For this reason, I think it will not touch 1000, and instead it will see 800 before 1000.

I think when gold does break 1000, it is going to do it very fast, like a couple of $90-100+ rises in gold per day for a few days in a row. No idea how it ends, but I don't think this is the time (next 2-3 weeks) for the gold breakout.

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