[truecougarblue]

I'm feeling pretty good about 640-650 range as a near term bottom. I do believe I'll start buying now.

[greenworm]

True enough, I had to break through alot of belief systems or (irrational exuberance) to accept the outcome and once I did I was the better. I have been on fire this week catching tops and bottoms on the gold mining stock wave. It was a nice ride. I see the action dying down a bit, once the big money players are no where in sight I will get back on the escalator.

[Chaparral]

$this->bbcode_second_pass_quote('truecougarblue', 'I')'m feeling pretty good about 640-650 range as a near term bottom. I do believe I'll start buying now.

[Chaparral]

$this->bbcode_second_pass_quote('o2ny', 'A')nybody like silver right now? Feels like it might be bottoming. Can't imagine it would go below 12.

[greenworm]

Google tells me that it looks like silver has got a lot of catching up to do. I was on the (sil) plunge when the Bolivia nationalization thingy broke out. I can't believe I cashed out too early, big mistake, I got it for a 2 bagger when I think it eventually was a 4 bagger. Better safe than sorry.

[truecougarblue]

$this->bbcode_second_pass_quote('Chaparral', '
')Are you thinking what im thinking?

2nd Fib at +/- 636 and a double bottom?

[o2ny]

$this->bbcode_second_pass_quote('Chaparral', '')$this->bbcode_second_pass_quote('o2ny', 'A')nybody like silver right now? Feels like it might be bottoming. Can't imagine it would go below 12.

[Dukat_Reloaded]

I feel that today will be a big dumping day, yes I could be wrong but I sense it, copper will drop big time, from that gold may drop somewhat, unfortuantly oil doesn't respond to metal dumps, I expect it to go lower but it will still remain above $70 I think. There is no reason why gold should fall any further, but being a metal it is linked to the base metals and regardless of oil prices it may drop lower.

[greenworm]

You are a profit! More figures about high inflation, it is like they are intentionally set up the sheep for slaughter. Despite the drop, many are not diving out of their original bottoms in the gold mining sector, I think it would have to hit $620/$610 to push them out. Let see if stubborness prevails.

[greenworm]

That was a nice recovery. Boing!

[drew]

He's not a 'profit', Greenworm,.... that's what he hopes to make!!

I don't know if he's a prophet either...

although all of us here sure try...

I prophesize that my profit will be at some other poor bastard's expense....




Drew

[greenworm]

Drew,

[Chaparral]

I had the same thoughts as Dukat. The lease rates inched up a notch on the 25th and we saw that sharp selloff this morning about an hour into NY trading. I guess us bargain hunters prevented gold from retesting the 630 mark? Heck, it didn't even touch the limit orders I set and it didn't even get to the point where I went long on my GC-Q06 earlier in the week.

DIE BEARS DIE!!

Regarding Mr Buffet's statements about the metals and energy being overbought and the grains being the only bargain, the COT commercials seem to disagree.

The commercial hedgers are going surprisingly long on copper and platinum and are heading towards the middle of the road in gold and silver. They have 5 year record net short positions in corn, Kansas red wheat and a one year record short positon in oats and Chicago white wheat. I am coppering (no pun intended) Mr Buffet's stated public opinion right now by being long in gold and silver and short in wheat and hedged in corn (short july & dec '06 while long in Dec '07).
mr
Maybe it's time for a public guru prognostication index (PGPI ?); when the public gurus like Buffet and Forbes say something is overvalued, it's time to buy and when they say to buy, it's time to sell.

[Dukat_Reloaded]

Accually Buffet called the top in technology boom, although afew years too early again.

[greenworm]

I went panning for gold this weekend and all I got was wet! Too bad, look at that chart, reminds me of the roller coaster special I watched this weekend.

[Chaparral]

Interesting to note that copper and silver headed in sharply opposite directions for the first few hours or so. Late last week, both gold and the USD were headed higher. I had a hunch I should have taken profits when SI-N06 was at the 13180 range. SI & GC have a habit of reversing direction an hour to an hour and a half or so into the NY session. I should have taken a look at copper and gotten the heck outta there. Now I'll have to wait six whole hours before silver is back up to 13300 range

I'm also hearing stories that silver inventories are down and gold deliveries for both investment AND jewelery are down. I don't know If i trust that news or not.

[Dukat_Reloaded]

Commodities getting hammered again. Silver was under 12, gold almost hit 620, back up at $630. Copper -5%, nickle -10% etc etc. Oil is the only strong commodity right now.

[BrazilianPO]

$this->bbcode_second_pass_quote('Dukat_Reloaded', 'C')ommodities getting hammered again. Silver was under 12, gold almost hit 620, back up at $630. Copper -5%, nickle -10% etc etc. Oil is the only strong commodity right now.

[kabu]

Converting your cash into bullion makes saving fun! I only wish I wasn't in debt when silver and gold was much cheaper. Alternatively, I wish I knew how much the two'd go up, when I was in debt.

[drew]

There sure is a lot of volatility this week-au back up to 650....

Drew