Oldtent Archives 2007 - 2008

Right on the mark. All the best.—-aggie.

Thanks for noticing buddy.  Pretty good ST call on those shooting stars last night too, eh?

Those always creep me out.

Lots of bearish h&s on most of the charts tonight.  Let see what tomorrow brings - maybe Ment’s promised land?

I just checked my HL puts and it looks like options expire on Dec 28th this year. 

That seems much later than normal.  Nice to come out green today.

http://finance.yahoo.com

on market summary just click asia

where’s the beef. lol… take two aspirin and get a good nights rest

its coming the golds and silver will be going up..

but many will be believing what they see,,, listen… the sound of the river

sometimes I would just like to reach through my computer and kiss you .have joyous merry christmas!

mindless .. and sound and fury signifying nothing .. a non -event.. made possible by the endless line of lemmings watching a tape for two weeks knowing whats coming… making bets.. exchanging kisses.. and then the markets shoved by inside forces and then the commentary to describe a movement of a small finger on a dead bodie politic.. .. it moved… twitch.. spit..,

“Let them fail; let everybody fail! I made my fortune when I had nothing to start with, by myself and my own ideas. Let other people do the same thing. If I lose everything in the collapse of our financial structure, I will start in at the beginning and build it up again.” Henry Ford
February 11, 1933

The quotation above refers to an important but little known fact about the Great Depression, namely the role of Henry Ford in forcing Washington to address the issue of bank insolvency.  The great inventor hated “the banksters” and was no less concerned about the safety of his money than today’s subprime shocked investors.  Not only did he reject President Herbert Hoover’s eleventh hour appeal to provide additional loans to support Detroit’s insolvent banks, but he threatened to “take his boys” into town that Tuesday following Lincoln’s birthday and withdraw some $60 million in cash deposits. 

http://us1.institutionalriskanalytics.com/pub/IRAMain.asp

In 1987, the dow dropped over 22% in one day, that would be down over 3000 dow point in one day now. Perspective? Deadeye

Thanks…………….if it hits .80 cents…I will be VERY wealthy <g>

The daily look shows a possible H&S bottom forming. There is also a smaller h&s bottom that formed the head. We have been backtesting the neckline of the smaller h&s at the .22 area.

The weekly look is showing the breakout form the falling wedge and the beginnings of the right shoulder formation. These bullish falling wedges can be frustrating sometimes as the rally can take longer than we think to fulfill the price objective, but they usually will. I think it may take alittle while for the breakout of the bigger H&S as we need to build out symmetry, equal or close to the left shoulder. The bigger look is showing a bullish rising channel that looks like it could be a halfway pattern, blue trendlines, to the upper black top rail. I have always like the symmetry that LNXGF exhibits. Someday it will play out in a big way IMHO.
All the best…Rambus

YEP! Down 1-2% across the board. Some things never change. Monkey See, Monkey Do.

finance.yahoo.com/intlindices?e=asia

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Aussie GOLD stocks…..mixed with a downward bias:

tinyurl.com/rb8sc

The Precious Metals…….a lot of noise, but GOLD is still above $800 at this hour:

www.gold-eagle.com/intra-daykit.html

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And the US $$$$…….

tinyurl.com/2voq5s

JBI

“…25 bp may hurt POG…..” soee

In the very short term, at the very least, you hit it right on the head. The other 25 basis points, I think, may come between today’s meeting and the next. “An emergency rate cut” is what the media will call it, I’m sure. But I think the crooks from the Fed already have it planned and probably already have the date set. They may even move it up a bit if the market were to drop another quick 1,000-1,500 points. We’ll see. But either way, I think GOLD is gearing up for an awesome and fabulous move UP.

JBI

As I’m pretty bad at any contests - here’s my take…

Producer - GFI - totally underated

Mid tier/royalty - Royal Gold - the real successor of Franco Nevada

Explorer/devoleper - XCL/NV and PMI Ghana - both haven’t payed the piper in Howe, Bay and Wall Street - that’s the other big plus next to their real assets.

Let’s see who perseveres in the long run -  not the pump and dumpsters I hope, though this is getting kind’a interesting as the mark to market is even affecting the untouchables … unsinkable - unthinkable! - biggest financial institutions of our globe … and I think these frauds as in GS, JPM and such should have been indicted years ago; Alas, too bad, these fraudulent whiz kids are running the show and in the case of GS they even mock the system as they seem to be in charge and totally inside the admin.

What a system! Run by cooks, close to crooks as the culprits even admit to sell shit to their own clients and are smart enough to short it in their clientzs face.

GS also has a history to forfeit their fund in 1929 and now we see the clan in the lead of another total meltdown in any and every  value - though not for GS - these smart operators of delusion will eventually hit a brick wall of illusion - notwithstanding their inside mode of todays admin … a very tricky mode between smarts and fraud!

In the final  analysis fraud  and inside knowledge seems to be the case - as GS has stipulated selling CDO’s to their best clients and shorting the toxic stuff right away. Wow, can you get more ethical than that?!

Now … is it the globalized world, which ìs in the best interest of 6.5 billion too many inhabitants on a resource restricted, or peak everything - except the idiocy of a bankrupt reserve currency - to accept pricing of this un- reality in day to day necessities, like food and energy being non core as too volatile.

Vile and totally … I’ll better end it here and get some ZZZZ’s

zee u later  frr

I just got around to reading your post from last night and could not agree more with the very fine points you make. I just continue to keep it simple, enjoying and trying to take advantage of the obvious trend that is in place.

This very simple monthly GOLD chart (as Rosen likes to use) says it all, imo. All the moving averages shown are properly aligned and screaming “We’re going higher!”

Best wishes!

JBI

PS - But I still enjoy reading his editorials.

Wish I had some great story to tell you as to why I bought it other than it having been in a virtual free fall.    The first time I owned it in a couple of years was when we got a break out on my charts around 7.50 in late March.  It ran to over 12.00 and I bought it purely as a trade.  I knew it was involved in Palladium, platinum.  I took a little over $4 out of it in about a month and sold it on a big gap up day. 

I am not sure exactly of the time line, I think it was after I got out of it, but Toyota/Honda/Nissan or someone came out and said they were working on a converter that would use 50% less palladium and then PAL came out with poor earnings - down it went. 

From a purely TRADING standpoint, with RSI under 20, ADX scraping the bottom and MACD as low as I have seen it in over 5 years, I put in a stink bid last week for 3.50 and thought it was only good for the day but found out today that I had put it in as GTC.   IF,  we get a bounce, then I look for it to try to get back to the $6.00 area. 

The share offering was just the final nail in the coffin to most PAL holders I guess and they voted with their feet. 

This is not a long term hold for me but purely a trade, so I am not lookin for anything more than a oversold rally - kinda like even the housing dogs bounced up hard the last week until today.   Have a good evening!