BTFD, yo

wanna take bets this is not the beginning of the end?

Are people thinking of buying at these levels or waiting for a another correction to pounce?

Either a very funny level or a real lol.

If only this goon had money and was up for a bet. We could both place money into an escrow account. I would do it for any amount.

I love how when there is a big short term dip everyone comes in here declaring the end of the bubble. This time last year gold was at $1274, we are now at about $1812, thats a 42% increase year over year.

tldr: BTFD

Personally I'm holding out for a correction to 1500 but will probably start buying again in the low 1600s. Wish me luck.

What you fail to realize is that if gold would crash fairly hard that would be a pretty excellent sign economic wise in the opinion of many people who hold gold.

Why do you assume people who buy gold don't work, lol. Most people who hold gold in here do so because they don't want the money they earn to be eroded by inflation.

I doubt anyone invests in gold only. I mostly use it to hedge against currency fluctuations.

I'm back into my SPY OOTM Put/GLD OOTM Call straddle early this morning.

Judging from his posting history, it's not sarcasm, he's just an uninformed dollar bug. I'm guessing he had a bit too much to drink or something and let the jealousy slip through, since usually the resentment over people being right itt on gold is kept contained.

Talk about ignorant though, gold has a minor correction after making a big move in the last month and is still sitting at $1800+, meanwhile you've got people like this guy still sitting around with all the signs staring him in the face for why to be bullish on gold, yet instead would prefer to close his eyes to reality so he can fist pump short term volatility.

AC has the best levels imo.

http://fofoa.blogspot.com/2011/05/re...est-money.html

I still think this is one of the best FOFOA Articles and as a re-read it today I noticed that it had something in it that I stated a long time ago possibly itt.

True.

While I am making a ton on Gold, I'd rather see my stock portfolio and home value solidify.

nothing to see here, barbarous relic

Central banks return as gold buyers

hey europe, how are those sovereign debt purchases working out for ya?

I am in concurrence with your logic here, as I believe gold prices as well as the the stock index will be quite volatile here in the short run. I'm assuming that you are selecting multiple expiry dates and multiple out of the money positions with your straddle. Would you care to elaborate on your exact position? If not, I have not yet read the book(s) that you and others recommended to me. Will these books give me a strategy of pricing that allows me to make a proper bet regarding the best expiry dates and the best out of money positions to take mathematically to maximize return given certain assumptions?

QF depressing

Maybe the gollems are right, time is cylindrical

bonk. I thought we were supposed to go up when the economy collapses :P Gonna go buy some more silver tomorrow

My options plays are with small amounts of money and it doesn't make sense to spread myself that thin (occasionally I am buying 1 contract in each direction and spreading is impossible).

The books will help you understand how to calculate optimal pricing strategies but these strategies are more like the icing than the actual cake. They are designed to maximize profit but they won't turn losing trades into winning trades. The primary lesson in options is to understand the concept that you are profiting from the size, frequency and direction of moves. It is way more important to understand how these relate to each other than anything else, IMO.

€ Gold prices stay relatively stable - maybe there is something to euro-freegold??? But I don't think so the Euro is a ghost.

There are fewer dollars going around buying dollars then, so the price will drop. When they problem is "solved" with adding more dollars, then the price will go back up.

fair enough.

I've read some speculation that gold will probably come down to ~1400 before the next big bounce, which I guess would put silver in the 28-30$ range. anyone agree/disagree or have strong feelings either way? I want to buy the dip but falling knives and all that jazz

Thank you.

Despite today's falls, still time to buy gold imo.

Buy the ****ing dip!

The two valid reasons in my opinion to own gold are as a hedge against inflation and as a doomsday currency crash reserve.

Considering its pretty evident we are in a deflationary period near to mid term and the dollar is rallying hard with no other obvious safe haven currency I don't see any reason to be bullish on gold.

There is a tail chance event in which a gold backed currency is introduced which would send Au soaring. The chance of a large QE program looks pretty remote right about now and I cant see congress passing it in any near term especially with the republicans on the deficit cutting witch hunt.

I'm short gold since yesterdays FOMC and I think it has a couple hundred $ downside over the next few months. Even if another QE were to be introduced it wont have much of an effect on inflation. It'll mostly end up on bank balance sheets to make up for credit contraction.