who out there plays the stock market?
#21
08-14-2008, 12:03 AM
Ok gentlemen, NoBrakes was closest with his description of the chart I posted. It was an indexed trending analysis chart for various commodities with an arbitrary date and value set at zero. It is a tool for investing. You guys have seen consumer price indexes and such right ... they evaluate more than the intrinsic value of sumthin at market price.
So lets keep it simple.
ummmm, not lately. This months actual gold & silver price charts
Hmm see a pattern.
Take a look at this 6-month chart for silver. Notice about 6 months ago it was almost at $21/oz and it had a "level of support" at about $16/oz for quite some time, but that barrier was broken and is now down to almost $14/oz and appears to be still falling .....not good if you bought 6 months ago, that works out to a 35% loss of capital.
Just sayin....do what you want with your money. But if you guys would like to be objective, post facts and not get emotional...this could be a fun thread and perhaps we could make some money.
So lets keep it simple.
Hmm see a pattern.
Take a look at this 6-month chart for silver. Notice about 6 months ago it was almost at $21/oz and it had a "level of support" at about $16/oz for quite some time, but that barrier was broken and is now down to almost $14/oz and appears to be still falling .....not good if you bought 6 months ago, that works out to a 35% loss of capital.
Just sayin....do what you want with your money. But if you guys would like to be objective, post facts and not get emotional...this could be a fun thread and perhaps we could make some money.
#23
08-15-2008, 02:47 AM
Keeping emotions out of the mix is a whole lot easier said than done and was no doubt part of my problem. There would be times where I would do everything right to the best of my ability and still get my *** handed to me. I enjoyed investing in the FOREX just looking at those charts brings back a lot of good memories but I haven't really missed it since I have stopped either.
#24
08-15-2008, 11:38 PM
True dat.....money, politics & religion, always gets people all rilled up.
But back on topic.
Gold & Silver fell a lot today and the dollar is FINALLY getting stronger.
Gold plummets amid stronger dollar, oil decline
By STEVENSON JACOBS – 2 hours ago
NEW YORK (AP) — Gold, which scorched into the record books earlier this year, has suddenly gone cold.
Prices for the precious metal — which touched $1,000 an ounce for the first time in March — have plunged in recent weeks, and on Friday tumbled below $800 for the first time since late last year. It has been a sharp reversal for a bellwether of the commodities boom that only months ago seemed poised to soar to uncharted heights.
"All of the sudden, it seems like the bottom fell out," said David Beahm, a vice president at New Orleans-based gold dealer Blanchard and Co., who nonetheless believes the metal's decline is overblown and that prices will go up again later this year.
The dramatic sell-off — gold has slashed more than $100 off its prices since Aug. 1 — comes amid a host of bearish factors that have dented the metal's safe-haven appeal: The once-limping dollar is strengthening against its rivals, crude oil is easing from record levels and signs suggest the worst may be over for the flagging U.S. economy.
"It's very difficult to make a bullish argument for gold," said Rob Kurzatkowski, a futures analyst with OptionsXpress in Chicago. "There's just too many factors going against it at this point for traders to get really enthused about it."
Gold's drop Friday came as the dollar surged again, responding this time to the Federal Reserve's report of higher-than-expected industrial output for July. The greenback's rally comes as a slowdown among European economies weighs down the 15-nation euro, which bought $1.4672 in trading Friday, down from $1.4811 late Thursday.
The healthier dollar led traders to unload gold contracts Friday, with December futures slipping $22.40 to settle at $792.10 an ounce on the New York Mercantile Exchange. Prices earlier dipped more than $35 to $777.70, the lowest since Oct. 26, and 25 percent off the all-time trading high of $1,033.39 reached March 17.
Silver also made a stunning drop Friday, losing as much as 14 percent during the day. Silver for December delivery shed $1.43 to settle at $12.93 on the Nymex, its lowest close since almost a year ago.
Other commodities have also been battered lately, driven lower as falling oil prices prompt investors to dump positions in hard assets. In the past two months alone, platinum has lost 33 percent, silver 25 percent and copper 9 percent.
Still, gold's spiral seems to have taken even veteran market observers by surprise. Jon Nadler, an analyst with Kitco Bullion Dealers Montreal, said Friday's free-fall was characterized by a "magnitude and viciousness of which was frightening."
"You can almost call it quits for the bull market," he said. "A lot of money has left."
But some analysts say it's too soon to bid goodbye to gold.
For one thing, demand for physical gold, such as jewelry, coins and bullion, typically falls off in the summer months and then picks up again toward the end of the year, especially in big gold-buying countries like India.
"As we move out of the summer months, gold could recoup and move above $900 again, but it's going to be difficult," said Michael Widmer, director of metals research at Lehman Brothers in London.
Others say gold's steep price drop could attract new buyers into the market who missed the metal's record-setting rise earlier this year.
"Gold is on sale right now," said Beahm of Blanchard and Co., which is predicting the metal to jump to around $1,150 by the end of the year. "This is a very steep discount and now is probably a safe time to get in at a lower price than just a couple of weeks ago."
However, some consumers say gold prices need to come down even more before they pull out their wallets.
During a visit to Manhattan's famed Diamond District, Nadine Digiulio, who owns a transportation company in Peabody, Mass., said she would "definitely" be more interested in buying gold jewelry if the price goes down.
But her daughter, Lisa Digiulio was not even remotely interested.
"I'm affected by the price of gas right now so I'm not in the market for gold," she said.
Others seem unfazed by high prices.
Also in the Diamond District, Thelma Kondell, from New Jersey, who works in billing, bought an $800 platinum ring for her wedding and may be in the market for more pieces.
"It's a big rip off. Prices are just ridiculous," she said. "But I still buy it, I'm looking right now."
Associated Press writer Mae Anderson contributed to this report from New York.
But back on topic.
Gold & Silver fell a lot today and the dollar is FINALLY getting stronger.
Gold plummets amid stronger dollar, oil decline
By STEVENSON JACOBS – 2 hours ago
NEW YORK (AP) — Gold, which scorched into the record books earlier this year, has suddenly gone cold.
Prices for the precious metal — which touched $1,000 an ounce for the first time in March — have plunged in recent weeks, and on Friday tumbled below $800 for the first time since late last year. It has been a sharp reversal for a bellwether of the commodities boom that only months ago seemed poised to soar to uncharted heights.
"All of the sudden, it seems like the bottom fell out," said David Beahm, a vice president at New Orleans-based gold dealer Blanchard and Co., who nonetheless believes the metal's decline is overblown and that prices will go up again later this year.
The dramatic sell-off — gold has slashed more than $100 off its prices since Aug. 1 — comes amid a host of bearish factors that have dented the metal's safe-haven appeal: The once-limping dollar is strengthening against its rivals, crude oil is easing from record levels and signs suggest the worst may be over for the flagging U.S. economy.
"It's very difficult to make a bullish argument for gold," said Rob Kurzatkowski, a futures analyst with OptionsXpress in Chicago. "There's just too many factors going against it at this point for traders to get really enthused about it."
Gold's drop Friday came as the dollar surged again, responding this time to the Federal Reserve's report of higher-than-expected industrial output for July. The greenback's rally comes as a slowdown among European economies weighs down the 15-nation euro, which bought $1.4672 in trading Friday, down from $1.4811 late Thursday.
The healthier dollar led traders to unload gold contracts Friday, with December futures slipping $22.40 to settle at $792.10 an ounce on the New York Mercantile Exchange. Prices earlier dipped more than $35 to $777.70, the lowest since Oct. 26, and 25 percent off the all-time trading high of $1,033.39 reached March 17.
Silver also made a stunning drop Friday, losing as much as 14 percent during the day. Silver for December delivery shed $1.43 to settle at $12.93 on the Nymex, its lowest close since almost a year ago.
Other commodities have also been battered lately, driven lower as falling oil prices prompt investors to dump positions in hard assets. In the past two months alone, platinum has lost 33 percent, silver 25 percent and copper 9 percent.
Still, gold's spiral seems to have taken even veteran market observers by surprise. Jon Nadler, an analyst with Kitco Bullion Dealers Montreal, said Friday's free-fall was characterized by a "magnitude and viciousness of which was frightening."
"You can almost call it quits for the bull market," he said. "A lot of money has left."
But some analysts say it's too soon to bid goodbye to gold.
For one thing, demand for physical gold, such as jewelry, coins and bullion, typically falls off in the summer months and then picks up again toward the end of the year, especially in big gold-buying countries like India.
"As we move out of the summer months, gold could recoup and move above $900 again, but it's going to be difficult," said Michael Widmer, director of metals research at Lehman Brothers in London.
Others say gold's steep price drop could attract new buyers into the market who missed the metal's record-setting rise earlier this year.
"Gold is on sale right now," said Beahm of Blanchard and Co., which is predicting the metal to jump to around $1,150 by the end of the year. "This is a very steep discount and now is probably a safe time to get in at a lower price than just a couple of weeks ago."
However, some consumers say gold prices need to come down even more before they pull out their wallets.
During a visit to Manhattan's famed Diamond District, Nadine Digiulio, who owns a transportation company in Peabody, Mass., said she would "definitely" be more interested in buying gold jewelry if the price goes down.
But her daughter, Lisa Digiulio was not even remotely interested.
"I'm affected by the price of gas right now so I'm not in the market for gold," she said.
Others seem unfazed by high prices.
Also in the Diamond District, Thelma Kondell, from New Jersey, who works in billing, bought an $800 platinum ring for her wedding and may be in the market for more pieces.
"It's a big rip off. Prices are just ridiculous," she said. "But I still buy it, I'm looking right now."
Associated Press writer Mae Anderson contributed to this report from New York.
#25
11-21-2008, 06:12 PM
I buy a lot of gas stock every time I fill up...lol, j/k, but on a serious note my friend has been investing in silver since it was like 5 dollars a ounce now its like 16 dollars an ounce he made like 20k in buying something that will never lose value. I wish I would have listened to him then, cause now its hard to swallow buying it at 15-18 an ounce, but when the economy crashes it will sore to never before seen numbers. So if I where you I would invest in silver or gold, more so silver than gold just because how much gold is and the fact that silver is a depleting product.
Again its not to late, to invest in gold or silver b4 they are unavailable to the public. Take a look at the market its not going to recover. We have about 6 months to a year to get ready for another great depression, no wait a super depression.
#26
11-22-2008, 12:05 AM
Bro you really think it's really gonna get that bad....I started shorting in October, you can make money in a declining market.
I think we are close to a bottom and have mostly been sitting on my cash....way to volatile for me. If it gets much lower there are going to be some Awesome deals on real estate.....gonna be a great time to buy a house...IF you have cash, a job and good credit.
#27
11-22-2008, 02:30 PM
I buy a lot of gas stock every time I fill up...lol, j/k, but on a serious note my friend has been investing in silver since it was like 5 dollars a ounce now its like 16 dollars an ounce he made like 20k in buying something that will never lose value. I wish I would have listened to him then, cause now its hard to swallow buying it at 15-18 an ounce, but when the economy crashes it will sore to never before seen numbers. So if I where you I would invest in silver or gold, more so silver than gold just because how much gold is and the fact that silver is a depleting product.
For you...
http://www.youtube.com/watch?v=T28rt...eature=related
Mike
#28
11-23-2008, 02:35 AM
Its kinda like ridding a bike, you dress for accident not the occasion, or how ever it goes. Anyways if it doesn't go that bad, then hey I have decorations for my Christmas tree. But if it does and our dollar isn't worth the paper its printed on, it would be good to have a few pieces of what our money is suppose to be backed by. Your not blind, you see how many small and major business's are on the brink of disaster and many more that already went under. Unless we come up with some type of production to pull us through (and I mean major production) we will see a full economic collapse. How are you going to make money when its worth nothing. I wont rant anymore about whats going on in the world, not just America. Its just that with everything going on it makes me angry. I wish you where right about being at the bottom now, but I think this is just the beginning. I'm sorry if this post sounds weird or like I subject jumped, but I've been racking my brain over this; and everyone that knows me knows it doesn't take much... lol anyways bro I do hope and pray that we will see a clearing and we can get back on track until then good luck and wishes to all.
Last edited by lemac; 11-23-2008 at 02:48 AM. Reason: I can't spell right
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