Hawk's Gold ~ The Legend Continues!

[Zed]

Everyone's in shock...?

Nup! I'm working on my shopping list!

[the wave]

Nup! I'm working on my shopping list!

Wheres yur gonna be shopping? Whats on sale ? Mes like bargoones

[DHAWK]

Thanks for da charts Hawkeye, you da bomb man!

[scofield]

Yeah, it's time to do some shopping for the Year of the Wabbit

[bemac]

I was looking at a 5yr gold chart, and it's interesting to see how gold acted from middle 2007 and up. Looks like some people knew the economy was starting to stink. Things got shaky when the stink became more exposed, and gold had trouble all the way up to late 2008. Then it started a healthy path all the way into late 2010. If my hunch is correct, we'll see some more falling down, we're getting collateral damage from the rest of the economy. Wait for the stock market to take a big hit, then dump your FRN's for an under-priced gold. Just MHO.

[lunar]

Meet The Man Behind The Liquidating Hedge Fund That Blew Up The Gold Market

Submitted by Tyler Durden on 01/28/2011 10:31 -0500

Over the past several weeks there had been rumors that the reason for the precipitous drop in gold was primarily driven by a hedge fund liquidating its futures positions. This has now been confirmed: "Yeah, that was just me liquidating my spread position," Mr. Daniel Shak, [of SHK Asset Management] 51 years old, said in an interview. "I had a significant, fully margined position. The dollar amount of the gold liquidation was very small, it was just a lot of contracts." Of course in the extremely jittery gold market, the kind of persistent marginal gross selling of contracts was all that was needed to spook weak hands into a consistent dump of the precious metal, which as we pointed out was beyond overdone. Judging by this morning's jump in the PM complex, SHK's liquidation is now not only over but about to promptly reverse as daytrading momos realize they were duped by one single guy. Look for gold to resume its upward advance as investors realize that the gold dump was nothing more than an ongoing futures position liquidation.....


strange

[Eat Beef]

More brainsplittingly dumb rubbish from ZH. If one liquidates a spread, he must sell one contract and buy the other.

[lunar]

More brainsplittingly dumb rubbish from ZH. If one liquidates a spread, he must sell one contract and buy the other.

....actually the brainsplittingly dumb rubbish comes from ---> http://online.wsj.com/article/SB1000...818702014.html

this is scary: Al Jazeera English: Live Stream - http://english.aljazeera.net/watch_now/
Egypt protests

[Eat Beef]

I can't access the WSJ, but I don't care if it comes from the Pope.

Please explain how a SPREAD, which is by definition long one contract and short another, can affect the market. The article doesn't even mention if the spread was long or short the front month. If it were the latter, the spreader would have to BUY the front month to liquidate. Assuming he was long the front, he would sell it, but he would still have to BUY the back months.

The whole thing makes no sense. It is bread and circus for folks who don't understand spreading.

[lunar]

@Eat Beef
.....may be it's just to confuse people like me

...Spread trading often flies under the radar of regulators and exchanges, as it is regarded as involving little risk. Therefore, traders are able to use high leverage to command a big number of contracts with only little capital.
For example, with as little as $135, a trader can control a spread trade, which is nominally valued at more than $260,000 at today's price...

...While the drop in contracts didn't appear to hurt gold prices, it caused some panic in the market. Brokers said they fielded calls from clients worried that a big trader may be dumping holdings... Hoka

http://online.wsj.com/article_email/...DEyNDgyWj.html

[stefanmo]

Hey Hawkeye, I thought when a triangle breaks down, you draw a line parallel to the descending resistance line from the bottom of the triangle to get a descending support line? On log scale.

With your permission I will call this the "Scofield line".

[scofield]

LOL... you did it on a linear scale! I guess it probably works out about the same for such a small swing.

p.s. I learned this from the late Howard Katz. It should be named after him.

[Hawkeye]

sls .... very nice close .... now watch out for the volatility zig-zag type moves ...lol...all fun to watch ...fwiw this could be just a bounce before we head for that 50% retesting ...fwiw

[Hawkeye]

Hecla long term perspective ....

[Hawkeye]

PULP FICTION TIME ...I don't know ... really don't want to see it ... but gotta consider it ..fwiw

Maginot chart redux .....fwiw

[Hawkeye]

[the wave]

Hey Hawk checkout the big picture chart here; Looks like we are going to be making the bottom soon grab your board and ride the waves http://4.bp.blogspot.com/_H2DePAZe2g...ativedelta.PNG

[Hawkeye]

Hey Hawk checkout the big picture chart here; Looks like we are going to be making the bottom soon grab your board and ride the waves http://4.bp.blogspot.com/_H2DePAZe2g...ativedelta.PNG

Hey! .. thanks wavey! I really respect Jesse and I sure wish I had a french curve app. on my charts ...very powerful chit! I quess I'm a little concerned with the Dollar here if it can manage a rally from imbedded sto ...heck ... maybe it's time for the decoupling ....We...C

[Zed]

Still looking for a USDX pop to mark the Gold low. Short covering burns bright and fast leaving weakness.... IMO this will be utilized in Gold, no new money here yet, the bottom is not convincing enough. Still thinking first couple of weeks in Feb... look for indicator divergence and lows in copper. 2c JMO FWIW.

[Hawkeye]

[DrStrangelove]

From Max Keiser. He thinks we've found a gold bottom.



I'm inclined to agree, though I'll be watching this closely.

[Zed]

It has been a decent time length correction... looking for a divergence to set up, I think we might be building that now.

[Hawkeye]

Well it's not going down much either .....lotsa unrest inna wirld and the canary just sits there ...lol




Back and fill already!!! ...lol



It's now or never ....how about never ...lol

[SirTitan45]

Thank you for your contributions Hawkeye!

[bemac]

I certainly wouldn't mind gold continuing to correct a bit more. I have some FRN's that need to go bye-bye.

[lunar]

[lunar]

And just for the record, do not buy this coin! Believe it or not, it is priced at a post-Freegold price. Your break-even point on this coin is gold at $33,102.47 per ounce (after shipping and handling)! Funny that it says the price can only be guaranteed for 7 days. They must be anticipating Freegold at any moment. This video was posted on YouTube Jan. 13, 2010 and I saw the same commercial on TV last night. The only difference was they have cut the price in half while reducing the gold content by 55% to 14mg:




http://fofoa.blogspot.com/2011/02/forum-201.html

Hoka

[Hawkeye]

NiiiiAAAGarAA FALLS!!!! ....slowly I turn ...step by step ...inch by inch .....Pittsburgh?

[the wave]

[Hawkeye]

[Hawkeye]

Never mind ........ Congrats to da cheeseheads

[Hawkeye]

[mach]

Hawkeye,

Please provide your input about crude oil & Natural gas whenever you will get a chance...

Any idea where is Smaug ? He used to post at kitco but now he is missing from there too...

Thanks

[lunar]

.....interesting thanx Hoka

Monday, February 7, 2011

Concerning China and the Gold ETF

Eric King's sources are generally reliable and it would make sense for a buyer of large size to attempt to source their gold from one place. It all comes down to availability.

One thing about the report however is that it serves to reinforce the idea that Chinese demand for the metal is very strong. Keep in mind that China is a huge producer of gold and yet at that, apparently that supply is insufficient to keep up with their own internal demand. That speaks volumes.......

[Hawkeye]

We got a new higher high print ...which means more up is coming ...fwiw ...WE NEED A SCREAMER DAY!

[Hawkeye]

Hawkeye,

Please provide your input about crude oil & Natural gas whenever you will get a chance...

Any idea where is Smaug ? He used to post at kitco but now he is missing from there too...

Thanks

Hey It's TAX time ... Smaug will be back ..fwiw



The halloween jack is a real cool cat And he lives on top of manhattan chase The elevator’s broke, so he slides down a rope Onto the street below, oh tarzie, go man go!! ...LOL

[mach]

Thanks Hawkeye for the charts...

Excellent call on Silver too....

[wallywest]

We got a new higher high print ...which means more up is coming ...fwiw ...WE NEED A SCREAMER DAY!

It's almost like you knew what you were doing

[Hawkeye]

It's almost like you knew what you were doing

[bemac]

Guys, wait until they can't squeeze the CPI under 4.

[Hawkeye]

Guys, wait until they can't squeeze the CPI under 4.

LOL ....GOOD ONE bemac! ....LOL ....This thread is a "LOL" SAFE ZONE!!! Long live the LOL ...LMAO ...

[Hawkeye]

Swingin little sister is making all the right moves ...bull wise ...

[jbilprophet123]

This is da concern swinging clear overbght, gold not in the proper mood to match the gains. Swinging kind of keeping gold in bullish territory no strength of "own".
With USD dead cat bouncing at 77.5.
Most likly seems like another week or two of high consolidation of silver in order. or is it one or two days? with that super swinging strength.
The look of chart does not look like classic embedded situation at all.

With USD marking a top soon next week i dont think correction will be significant, just a last window to buy gold 1-2% cheaper and maybe silver 1-4%.
Waiting for next week to deploy remaining 50+% cash again into silver.

Great work Hawk Da Man, the best chartist ever to f;y in da cyber clouds..

[Zed]

This is da concern swinging clear overbght, gold not in the proper mood to match the gains. Swinging kind of keeping gold in bullish territory no strength of "own".

Yeah but ain't it?! Silver is looking soooooo strong when you look at golds action. What I would like to see here is a 200DMA test on gold and a new higher low in silver. That would be a setup from heaven!!!!

[lunar]

this has to be scary ...not directly about gold/silver, but may has some influence


Deep US-Saudi rift over Egypt: Abdullah stands by Mubarak, turns to Tehran
DEBKAfile Exclusive Report February 10, 2011, 4:31 PM (GMT+02:00)

The conversation between President Barack Obama and Saudi King Abdullah early Thursday, Feb. 10, was the most acerbic the US president has ever had with an Arab ruler, debkafile's Middle East sources report. They had a serious falling-out on the Egyptian crisis which so enraged the king that some US and Middle East sources reported he suffered a sudden heart attack. Rumors that he had died rocked the world financial and oil markets that morning and were denied by an adviser to the ruling family. Some Gulf sources say he has had heart attacks in the past......
...... According to British intelligence sources in London, the Saudi King pledged to make up the losses to Egypt if Washington cuts off military and economic aid to force Mubarak to resign. He would personally instruct the Saudi treasury to transfer to the embattled Egyptian ruler the exact amounts he needs for himself and his army to stand up to American pressure.

Through all the ups and downs of Saudi-US relations since the 1950s no Saudi ruler has ever threatened direct action against American policy.
A senior Saudi source told the London Times that "Mubarak and King Abdullah are not just allies, they are close friends, and the King is not about to see his friend cast aside and humiliated."

Indeed, our sources add, the king at the age of 87 is fearful that in the event of a situation developing in Saudi Arabia like the uprising in Egypt, Washington would dump him just like Mubarak.

debkafile's intelligence sources add that replacement aid for Egypt was not the only card in Abdullah's deck. He informed Obama that without waiting for events in Egypt to play out or America's response, he had ordered the process set in train for raising the level of Riyadh's diplomatic and military ties with Tehran. Invitations had gone out from Riyadh for Iranian delegations to visit the main Saudi cities.

Abdullah stressed he had more than one bone to pick with Obama. The king accused the US president of turning his back not only on Mubarak but on another beleaguered American ally, the former Lebanese Prime Minister Sa'ad Hariri, when he was toppled by Iran's surrogate Hizballah......

full story: http://debka.com/article/20650/

[bemac]

Obama: "Look, I've got my own problems."

Obama can't support Mubarak and not piss off his own supporters, who are already unhappy with him.

[Anakin]

this has to be scary ...not directly about gold/silver, but may has some influence


Deep US-Saudi rift over Egypt: Abdullah stands by Mubarak, turns to Tehran
DEBKAfile Exclusive Report February 10, 2011, 4:31 PM (GMT+02:00)

The conversation between President Barack Obama and Saudi King Abdullah early Thursday, Feb. 10, was the most acerbic the US president has ever had with an Arab ruler, debkafile's Middle East sources report. They had a serious falling-out on the Egyptian crisis which so enraged the king that some US and Middle East sources reported he suffered a sudden heart attack. Rumors that he had died rocked the world financial and oil markets that morning and were denied by an adviser to the ruling family. Some Gulf sources say he has had heart attacks in the past......
...... According to British intelligence sources in London, the Saudi King pledged to make up the losses to Egypt if Washington cuts off military and economic aid to force Mubarak to resign. He would personally instruct the Saudi treasury to transfer to the embattled Egyptian ruler the exact amounts he needs for himself and his army to stand up to American pressure.

Through all the ups and downs of Saudi-US relations since the 1950s no Saudi ruler has ever threatened direct action against American policy.
A senior Saudi source told the London Times that "Mubarak and King Abdullah are not just allies, they are close friends, and the King is not about to see his friend cast aside and humiliated."

Indeed, our sources add, the king at the age of 87 is fearful that in the event of a situation developing in Saudi Arabia like the uprising in Egypt, Washington would dump him just like Mubarak.

debkafile's intelligence sources add that replacement aid for Egypt was not the only card in Abdullah's deck. He informed Obama that without waiting for events in Egypt to play out or America's response, he had ordered the process set in train for raising the level of Riyadh's diplomatic and military ties with Tehran. Invitations had gone out from Riyadh for Iranian delegations to visit the main Saudi cities.

Abdullah stressed he had more than one bone to pick with Obama. The king accused the US president of turning his back not only on Mubarak but on another beleaguered American ally, the former Lebanese Prime Minister Sa'ad Hariri, when he was toppled by Iran's surrogate Hizballah......

full story: http://debka.com/article/20650/

Even if this is true, Saudi can't make up for American military support just with money. The Egyptian military would need the technical support of the US to keep its equipment combat effective.

[lunar]

Even if this is true, Saudi can't make up for American military support just with money. The Egyptian military would need the technical support of the US to keep its equipment combat effective.

...obviously you are right - so let's focus again on silver

[lunar]

Does the FEEEEELTH ….

-> Posted by Scruffy @ 9:06 am on February 14, 2011
.....get Valentines Day off?

[Zed]

Silver.... she is getting sick of big bros antics, this girl is gunna try and party without him!