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  #71  
Old 09-09-2011, 10:21 PM
jsy jsy is offline
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Originally Posted by Roborovskii View Post
I know, I have mentioned that on this same thread.
And I am actually heavier on silver compared to gold.
Then you might want to do some research into gold/silver ratios-- quite a bit of sound reasoning as well as controversy/confusion around that.

Quote:
Originally Posted by Roborovskii
Personally I do not put much weight on TA and charting in the mid-long term outlook. They are usually nothing but a self-fulfulling prophecy, due to the masses being herded around like sheep by patterns on a screen. Manipulators are also able to make use of these patterns to herd people off a cliff.

You will only see TA successes announced, but never TA predictions that failed. I can personally admit to you that many of my noobish TA have failed miserably At best, they have only 50% accuracy... which makes them rather redundant. Maybe I am just sucky at it

Oh, sorry--I had the impresson that it was Freeier who posted that...

But anyway, I think you're "sucky" at it because you're taking an "all or nothing" approach-- I mean, even the MSM analysts put out their predictions/recommendations as "subject to this" or "barring that".... any realistic modeling (like those for systems engineering) would give you a range of outcomes with each of their probabilities, NONE of which you are suppose to ignore.

Cos it's a simple matter of probability that anyone who uses TA as a "Price+Date" generator will always be wrong some of the time (without even knowing why).

Learn to think for yourself by apply the reasoning behind the TA (e.g. lines of support formed by previous buyers who won't sell any longer), and NOT the flawed/limited ("all other things being the same") model/application developed from it.... I mean, even Ben Bernanke's messed-up Fed Reserve policies has got some sound economic principles behind it (horribly mis-applied).
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Last edited by jsy; 09-09-2011 at 10:25 PM.
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  #72  
Old 10-09-2011, 10:33 AM
jsy jsy is offline
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Quote:
Quote:
Originally Posted by getiton
jsy, we = precious metal bugs
wrong about = that PMs will rise, silver to $100 by yr end, gold to $5000 by 2012.
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Originally Posted by jsy View Post
Huh? You mean there's actually a consensus on this amongst forummers in GCA?

I really hope you're joking this time-- cos you have a high change of getting "shafted" if your liquidity needs depends on your 90% PMs rising to those levels by 2012.
UPDATE: word is out that some Swiss names have been pummeling the EUR/USD-- line of support appears to have been broken and the trendline is down… IOW, the Swiss have successfully, though surreptitously, "pegged CHF to USD"-- by selling CHF for EUR to bring down the CHF and then selling the EUR they bought for USD in order to (bring down the EUR &) prop up USD.

I mean, they are devaluing the CHF by selling it off for EUR, and then devaluing the EUR by selling it off for USD-- thereby killing 2 birds with 1 stone (devaluing BOTH the EUR and CHF against USD).... It's so ingenious that not one of the Asian currencies (JPY, SGD, CNY) holding a peg to the USD ever thought of it-- they certainly live up to their reputations as the Master (manipulators?) of Finance!

So there are now at least 4 countries (CHF, JPY, SGD, CNY) propping up USD, all of whom have the reserves needed to do it. China was trying to switch to (buying/propping up) the EUR for a while, but with the Swiss "forcing" everyone back to the USD "safe haven".... the various “sides” to the currency wars are forming up to be: CHF (+ USD-pegged currencies) vs EUR (+ CNY?).


I know the general (gold bug) theory is that one less (CHF) safe haven means more buyers for gold-- but this means more ping-ponging in the short to medium term as people test the Swiss National Bank to see IF their resolve to trash the CHF is really "unlimited"... cos we already know that US Federal Reserve's resolve to trash their own dollar IS unlimited.

So the kind of quick/sudden appreciation in the prices of Precious Metals (traded in USD) that you're hoping for is unlikely-- unless all the USD-“pegged” currencies are ready/happy to go down with USD, or else break their “peg” to it… which they would only want to do SLOWLY, by diversifying their reserves). Meanwhile, I'll be busy ping-ponging to/from my bank.
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Last edited by jsy; 10-09-2011 at 10:39 AM.
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  #73  
Old 10-09-2011, 10:18 PM
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alor alor is offline
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Default the chart is ok, Swiss Franc is BROKEN

Quote:
Originally Posted by prana View Post
At the same time, it's worth looking at gold/silver price movements in other currencies. This is a good FOC chart from bullionvault.com
Current settings are USD, 6-hour chart. Looks great, price up all the way. Then try clicking CHF (Swiss franc) a very different picture emerges.

http://www.bullionvault.com/gold-price-chart.do


So at the end of the day, we should not get too carried away by price movements in mainstream charts which mostly use USD as a measure. It's a good guide but does not tell the whole story.

The collapse of the Swiss franc in minutes greatly surpassed the collapse of sterling seen on “Black Wednesday” in 1992, when the British pound fell by 2.7% against the German mark on one day.

This has resulted in the Swiss franc falling by nearly 10% against gold for the week – from CHF 1,484 per ounce to CHF 1,620 per ounce.

Global Currency Wars Sees Swiss Franc Devalue 8.5% Against Gold In Week

http://www.zerohedge.com/print/437503
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  #74  
Old 12-09-2011, 09:57 AM
freeier freeier is offline
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Quote:
Originally Posted by alor View Post
The collapse of the Swiss franc in minutes greatly surpassed the collapse of sterling seen on “Black Wednesday” in 1992, when the British pound fell by 2.7% against the German mark on one day.

This has resulted in the Swiss franc falling by nearly 10% against gold for the week – from CHF 1,484 per ounce to CHF 1,620 per ounce.

Global Currency Wars Sees Swiss Franc Devalue 8.5% Against Gold In Week

http://www.zerohedge.com/print/437503
The value of chf is declared to be at 120 per eur by the CBS. U can read that into the chart, or u can read it prior to the chart. But unless we are saying the next round of easing will kick in soon, then prior to the event and after the event it's more a dislocation which need to be accounted for.
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  #75  
Old 15-09-2011, 09:31 PM
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snipermaverick snipermaverick is offline
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Gold and silver prices dropped to below $1800 and $40 respectively already!
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  #76  
Old 15-09-2011, 09:55 PM
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coolmax coolmax is offline
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Up or Down... only matters if you trade.

if you lost faith in paper ... it doesn't matter anymore. Just keep stacking.
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  #77  
Old 20-09-2011, 10:50 AM
jsy jsy is offline
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Quote:
Originally Posted by coolmax View Post
Up or Down... only matters if you trade.
Which I do (through UOB's Gold Savings Account) -- amyone else bought the dip last Friday and sold the top this Monday?

I was quite sad when my old 14-inch laptop finally took her (yes, it's a "her"-- we eat and sleep together) last breath, but now I have got new 15.6 inch one-- HURRAY!

Come on Obama and Bernanke, give me another dip in Gold Spot and I'll be able to get a new 40-inch LED TV-- BWAHAHAHAH!
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  #78  
Old 20-09-2011, 12:00 PM
NiceCoin NiceCoin is offline
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Even though Prices for Gold and Silver had dropped, i had not gotten anything cheap for the fact that US dollar had strengthen against Sing dollar
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  #79  
Old 20-09-2011, 02:47 PM
javacoffee javacoffee is offline
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For silver, I am looking at $38.50 for support. If it breaks, it might dip further and this could present another window of opportunity to load up.

Then again, this is not a Free market.
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  #80  
Old 22-09-2011, 08:32 PM
mjay mjay is offline
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37.14! will we see 36++ or even 35++????
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