Still time to buy gold imo. - Page 167 - Economics -- Two Plus Two Poker Forums

I was wondering if anyone would be so kind as to explain a few terms for me? I'll post the term, and if I think I know what it is, I'll post.

Correction: where the price of something is fluxuating higher (and possibly lower???) to where it actually should be, and it corrects to it's actual price?

bulllish: no idea

resistance: where something is rising in price and is peaking?

shorts/shorting: j2sooted explained this to me, but I can't remember. I was drunk and high and we were at his place in Austin. ... it's where ... you expect something to rise in price and you purchase it before it does???? Or wait, no. It's where you expect something to drop in value and you sell it before it does?

If there's any terms you think I missed that I wouldn't know what they were, please to be feeling free to educate me.

ty ty

Bullish- favorable for upward price movements. Bearish is the opposite (a bull market rises, bear market stagnates or falls).

Resistance- a price level that acts as a buffer. The price (it could be rising or falling) will hit a level and briefly reverse, then hit the same level again, briefly reverse etc. This level is resistance. Its a kind of psychological barrier where the price is now either high enough to induce selling or low enough to induce some buying.

08-09-2011 , 08:52 AM

#4152

LirvA

banned

Join Date: Sep 2007 Posts: 43,574

tyvm, I greatly appreciate it.

08-09-2011 , 09:40 AM

#4153

tolbiny

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Join Date: Mar 2004 Posts: 10,448

Ok. Markets opened up noticeably but gold is up 2% from yesterday's close as well while silver is getting pummeled. I'm straddling silver up and S&P down in options ahead of the Fed today. Big announcement of QE3 should boost silver in the near term but no announcement could kill the markets.

Since I already have s&p puts just have to buy some SLV calls. Still going to hold my 1 GLD call left.

08-09-2011 , 03:18 PM

#4154

ErikTheDread

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Quote:

Originally Posted by Sholar

Gold-plated tungsten, though.

There have been rumors about this maybe happening, but I've yet to see a reputable citation of an occurrence.

08-09-2011 , 03:22 PM

#4155

shermanash

adept

Join Date: Aug 2005 Posts: 1,079

still time to buy until at LEAST mid-2013 imo
Fed to Keep Interest Rates at Record Lows at Least Through Mid-2013

Quote:

The Fed left its target for the federal funds rate in a range of zero to 0.25 percent, where it’s been since December 2008. It said it will maintain its policy of reinvesting maturing securities without saying for how long.
The vote was 7-3. Richard Fisher, president of the Dallas Fed, Charles Plosser of Philadelphia and Narayana Kocherlakota of the Minneapolis Fed all dissented. It was the first time under Bernanke that three FOMC members dissented.

08-09-2011 , 03:27 PM

#4156

ErikTheDread

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Join Date: Nov 2006 Posts: 9,124

Quote:

Originally Posted by Low Key

If I actually knew *how* to short sell, I would have made quite a few bucks a few years back, but sadly, I just knew what it was.

It used to be that brokers wouldn't let you do short sales unless you were already a fairly savvy investor with a large account. But the internet pretty much blew that away and anybody can be a daytrader now (many threads about daytrading here, caveat emptor).

But there are now a bunch of short/bear mutual funds that let you invest in a way that somewhat mirrors shorting.

08-09-2011 , 04:25 PM

#4157

LirvA

banned

Join Date: Sep 2007 Posts: 43,574

Quote:

Originally Posted by shermanash

still time to buy until at LEAST mid-2013 imo
Fed to Keep Interest Rates at Record Lows at Least Through Mid-2013

confused cat. does that mean no QE3 AORN?

SORRY, PHONE JUST GOT STUCK ON ALL CAPS

FUJDHGDFUYDFHYYUDFYH

08-09-2011 , 05:08 PM

#4158

NameOnTheCake

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not necessarily

08-09-2011 , 08:37 PM

#4159

LirvA

banned

Join Date: Sep 2007 Posts: 43,574

Just bought 3 x 1 gram bullion bars on ebay for $208.99/$69.66 a piece with free shipping, plus $4.18 back in ebay bucks.

Same Istanbul Turkey refinery, uncirculated.

I has five grams of gold in the mail! woot woot!

I'M SHORTING THE DOLLAR YOU GUISE!!! AMIDOINITRITE???

08-09-2011 , 09:18 PM

#4160

ianlippert

Pooh-Bah

Join Date: Apr 2005 Posts: 4,960

Is it worth buying gold on eBay? I know nothing about buying gold but it seems like there would be a big markup or something. How much over spot did you get it for?

08-09-2011 , 09:21 PM

#4161

ianlippert

Pooh-Bah

Join Date: Apr 2005 Posts: 4,960

My rough calculations suggest that the markup is about $8. Are there cheaper ways to buy gold?

08-09-2011 , 09:29 PM

#4162

LirvA

banned

Join Date: Sep 2007 Posts: 43,574

Probably but I'm a newb so idk. It's probably a high markup but I don't really care, it will be worth it in the long run. Easily.

Setting aside mark ups/premiums, I do think it's good to buy gold (or anything) on ebay via paypal because of the buyer protection, and also if you get ebay bucks that's basically like rakeback.

08-09-2011 , 10:26 PM

#4163

JDalla

Total Boar

Join Date: Nov 2004 Posts: 15,537

this seems exciting. I admittedly only know about gold through this thread and a couple others/links from 2p2, but I did stock up 4 times, at 1050, at 1400, 1608 and 1648, and I'm now well aquipped to survive dollar doomsday.

Thanks everyone

08-10-2011 , 12:37 AM

#4164

ninconvert

grinder

Join Date: May 2007 Posts: 436

Guys what do you think about this kind of analysis? http://peterlbrandt.com/three-chart-...ns-and-eurusd/

I know nothing about trading / investing but I've been reading fooled by randomness / black swan and it's made me wary of people predicting stocks based on just looking at a single chart... am I being totally clueless and is lots of money made simply by staring at gold charts and guessing if it's going to go up or down based on the line previously?

08-10-2011 , 01:44 AM

#4165

Fermion5

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Marc Faber says we are overdue for a gold correction.

08-10-2011 , 02:06 AM

#4166

TomVeil

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I would agree with that, but a correction down to where it would still be higher than 3 months ago

08-10-2011 , 02:09 AM

#4167

Fermion5

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Quote:

Originally Posted by TomVeil

I would agree with that, but a correction down to where it would still be higher than 3 months ago

that's generally what happens in a bull market =)

08-10-2011 , 02:24 AM

#4168

Shoe

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Is gold really more valuable than platinum? Is there more value in platinum now?

08-10-2011 , 02:31 AM

#4169

ZeroPointMachine

old hand

Join Date: Jul 2005 Posts: 1,816

Quote:

Originally Posted by ninconvert

http://en.wikipedia.org/wiki/Technical_analysis

Technical Analysis is considered a powerful tool by many investors(both large and small), and as useful as astrology by many others. IMO it is a form of self-fulfilling group think. If enough people(with enough money behind them) believe that "the 200 day moving average will probably act as a support level" and buy X when the price drops to that point, then it can become a support level. It is sort of irrational, but that doesn't mean it doesn't work.

If all the sorority sisters believe in astrology and the astrology charts say that Leo girls should be looking for Sagittarius guys(me), the first thing I want to know when I get to the party is where the Leos are. A game doesn't have to be rational to be exploitable.

08-10-2011 , 10:49 AM

#4170

TomCollins

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Technical analysis applied to poker:

08-10-2011 , 11:23 AM

#4171

TomCollins

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Quote:

Originally Posted by Shoe

Is gold really more valuable than platinum? Is there more value in platinum now?

Platinum is more highly used in industry, and a drop in production would cause a drop in the value of platinum. Unless it somehow monetizes.

08-10-2011 , 11:35 AM

#4172

shredhead84

grinder

Join Date: May 2010 Posts: 587

Gold is a useless metal, but I am very bullish long term. Short term I think it has to deflate a bit maybe to $1400 or so before picking up steam again. Analysts say it might go as high as $2500/oz before any pullback. The Euro banks are getting clobbered and investors are looking to put their money in a safe place, treasuries are garbage as far as ROI, Bank of New York charging deposit fees for FDIC protection. Investors are getting desperate looking for somewhere to put their money and turning to gold.