GOLD down almost $90 in the last few sessions?

John Kane= seriously ouch dude

Fishhead and his farmland=seriously LOL

Binions= just pops his head when GOLD is up..LOL

With equities,stocks, and commodities down across the board, is that considered "deflation" (talking about today only)? Or is it just what happens when the dollar rallies?

"GOLD down almost $90 in the last few sessions?

John Kane= seriously ouch dude

Fishhead and his farmland=seriously LOL"

If you bought Gold a year ago you killed the guy who bought SPUs

Don't know if I qualify as a fanatical bug, but I'm still bullish longterm. In fact, I predicted in one of these threads that we would pull back to ~$900 before ultimately going much higher.

I'm definitely not a gold bug right now, however, this post addresses what- the occurrences of one or two days, without any strategic indicators motivating the price movement?

It wouldn't surprise me one bit to see metals correct, but I would be equally 'unshocked' if they rallied (I'm about 50/50 on metals, which is why I don't have a dime in them at this time)

I bought gold a year ago in my ira and I am pretty happy

I would expect no less from a guy with Gild in his name

No......a GOLD BUG just chirps about their precious metal when its rising.They are usually gloom and doomers .....with the world is coming to an end mentality.Over many years ....they appear whenever the equity markets are skiddish/economy is weak or is reccesionary

People who are NOT "only long GOLD" and open to other investment vehicles/ideas are not BUGS as far as I am concerned

GL,
Stephen

Yes....for the most part that is the perseption

i dont believe you are being serious here. this has been widely expected since around $800. not many want to try and time it because it's just kept rising. it's till up 40% in the last 12 months.

i feel sorry for the guys who have invested in index funds this decade so far. over 8 years in the dow and they'd of gotten 6%. not annually, that's in total.

it could drop to mid $800s i think and the rebound. but it could equally fire up past $1000 in the next few weeks.

gl

john

John

I didnt actually mean to single you out(thats why I posted the sad face above).I was reffering to the GOLD BUGS that chip like birds with their doom and gloom scenerios...and ONLY come out when their metal is UP

GL,
Stephen

You will find that most metals bugs are always screaming to buy, no matter what the market conditions are.

John Kane, what a moron

You say it's good to be in gold and not to time it cause it's going up but feel sorry for guys who didn't time the stock market cause of the less than stellar returns of the last 8 years, well if you started investing in 1990 you'd be up 350% or about 20% per year your pick and choosing of the facts is not a proper justification of your idiotic arguments.

yo stephen,

my reply was a bit snappy sorry, i was in a rush to post so didnt properly re-read it.

jim sinclairs makes a few points today:

he is typically calm, but here he appears a bit more emotional.

gl

john

lols i like picking and choosing. makes me feel better

i dont care about what happened to index funds in the 90s. i dont really care about what happened to them in the 00s so far. just with a 'global downturn' as everyone is calling it, i think being a gold investor in these current conditions is better than being a index fund investor. i know this wasnt the issue off the bat, but we cant starting bashing gold because of a bad day. bad 8 years...then i think it's fair to start bashing.

Stephen, did you ever consider that maybe the chicken came before the egg here? That the people "chirping" when gold is going up might be chirping the right things about the economy and why gold is moving? Or do you just assume there is no method to the madness regarding gold's movement and therefore any discussion of it must necessarily be mindless chirping?

The gold market is pretty thin, and is thus subject to short sharp corrections. This is nothing new and doesn't change anything about gold being in a long term bull market.

i really don't see what the big deal is here.

seems trivial that gold fell due to fed's action relative to expectations. even the statement issued by the fed indicated things that could be interpreted as bad for gold (i.e. "we are eying long term inflation") ...that said, there were good things for gold too: 2 board memebers dissented and thoughtt hat a smaller cut was warranted due to rising inflation. bernanke was not able to gerenate a unanimous decision.

the 2 dissentors felt that if L-T inflation expectations come unhinged, there is going to be a massive impact on the economy and there would be very little the fed could do other than raise short rates to try to get inflation back "under control" and bring down long rates in that panic scenario.

clearly we see indicators of sentiment building in terms of long term inflation, however, the actual inflation expectations appear to still be anchored for the moment.

but i'm just shocked i guess that gold falls for reasons it would normally fall for and immediately it is supposed to spark a simialar trend in reverse?

Barron

Mr. Now is actively taking in a few even-money bets that the price of ETF "GLD" is higher than the March 19 close as of the GLD close on September 19 2008, 6 months hence.

Payment to winner of this bet is by PokerStars transfer no later than September 22 at 12 noon.

PM Mr. Now if you are willing to take the short side of this long bet, according to the above terms. Name the maximum amount you are willing to wager.

PMs sent to Mr. Now by the deadline, Friday March 21 are valid. PMs taking the short side by the deadline can expect a response in writing from Mr. Now on or before Monday, March 24.

I think stephens trying to point out that everyone talking on and on about gold believe its above buying dips and waiting for good price points. They seem to think the ideal strategy is buying gold at whatever price you can get it so long as its below some huge arbitrary and irrelevant number like $3000

ALawPoker

I dont know how old you are or how familiar you are with the GOLD BUG mentality going back 35+ years.But I have been around the block and back listening to their constant rhetoric/babble/chirping about its oppurtunistic value as an investment.When GOLD peaked at $800 an ounce around 1980...these gold bugs,pawn shops,"sell your jewelry for big $$$ stores",etc..were calling for gold to go to $1500...$2000..even higher.It proceeded to PLUMMET over the next 20yrs back to $200 an ounce and flounder around in no-mans land proving to be a horrendous investment.Most of them were no-where to be found during that time on any outspoken basis

However the last few years since their 'new' party started again...they once again came out of the wood work...crying everything from the probablility of a monetary system collapse...the next depression is coming.....GOLD going to $3000 ....cash is toilet paper...etc.Their reguvinated outcries were heard everywhere

Yet GOLD(esp. inflation adjusted) has been one of the WORST "investments" these last 30 yrs bar none.My comment today after GOLD tumbled the last few sessions is not ness. due to this recent fall....but the fact that these "sky is falling" nits seem to disappear and only CHIRP when prices are rising

They are usually in hiding during falling times.I dont care about its relationship to the economy/falling greenback/oil or our trade deficit.Nor the fact it has only gotten back to 25 yr old prices.That wasnt the purpose of my post.Since most of them have NO idea why/how GOLD is related to prices in current economice environments anyway.... I always wonder why they never seem to defend gold for any other reason than on a pure dollar comparison.
I am not at all debating GOLD's rise.....I am calling out the ignorance of many of its defenders who have no clue as to why.

What is your point by the way........and please dont tell me YOU are one of them?

GL,
Stephen

TY Art.....this post was NOT about me implying GOLD is going back to $300.And I am also not disputing its in bull market mode as well.

I am saying where are the defenders/chirpers with the BUY BUY BUY mentality at any price?

GEEEZE....you GOLD dudes are sensitive

LOL....you sound like one of characters in the film Reservoir Dogs.

"Wheres those GOLD bugs now?"

Sitting in their basements next to their pile of gold with their shotguns ready in case the the government tries to come and take their gold.

Think of the Simpsons episode in which Homer hoarded a pile of sugar:

Last I checked, Mish's blog is still up.