Hawk's Gold ~ The Legend Continues!

[British Sovereign]

Ohh, please don't say rice. I went long 14.60ish and got stopped out THE DAY it took off.

I've been crying every time I saw it since then! Congrats to you on the trade, I'm waiting for a place to short!

EDIT, it was 14.47

I sold my rice futures last week for a small fortune. I closed out gold 1600 options expiring today. Holding the in the money Dec Gold, Dec Silver and Dollar Dec Puts. I too would have been stopped out of Rice, but I never put stops in until a limit down day. Rice is a wild ride, but a long term easy money bet. The decrease in volatility makes me apprehensive about trading today.

[Unca Walt]

I need convincing it is safe.

I just googled them "Flying Inflatable Boats", you can buy them off the rack... yikes!

http://www.flyinginflatableboats.com/indexa.html

As an Instrument Rated Pilot, I can tell you they are NOT. The damn' things don't even have ailerons. Wazzat mean, ya say?

That means if some air rises up under your RIGHT wing, there is no control even built into this thing that will allow you to lift the LEFT wing and level the aircraft.

This means a little gust can turn you upside down (an attitude in which that contraption will NOT fly) and... guess what?

THERE IS NO CONTROL BUILT INTO THE THING TO GET YOU BACK OVER.

So... down you go.

The only time I would get on one of those things is to escape from a POW camp or something.

[DrStrangelove]

Gold is showing real strength if it can maintain $1610+ through option expiry on Thursday.
I think it will. $1750+ by years end is in the cards. JMHO.

[StateofJefferson]

Gold is showing real strength if it can maintain $1610+ through option expiry on Thursday.
I think it will. $1750+ by years end is in the cards. JMHO.

That options expiration was today at 1:30pm EST

[DrStrangelove]

That options expiration was today at 1:30pm EST

Oops. My bad. Going on memory from a couple weeks back. Thanks.

[Goldhedge]

I need convincing it is safe.

They really are safe, if you keep them on the water....

[Zed]

They really are safe, if you keep them on the water....

uh-huh....!

[British Sovereign]

Gold is showing real strength if it can maintain $1610+ through option expiry on Thursday.
I think it will. $1750+ by years end is in the cards. JMHO.

LTO for AUG gold was the 26th. FN for gold futures is 29th.

[RichG]

As an Instrument Rated Pilot, I can tell you they are NOT. ....
he only time I would get on one of those things is to escape from a POW camp or something.

I am a private pilot also, and could not agree with you more. Every time I see one of these things, or the ultra-lights in flight I watch in horror at the recklessness of the pilots as they maneuver their crafts without the slightest regard of aeronautical knowledge. This flying boat-kite is an accident waiting to happen. I am surprised he lasted as long as he did. It seems that he has been flying this craft for some time now. It would have to be an extreme circumstance for me to pilot one of these things... let alone take a passenger. You want to fly a kite with an engine..... get behind the stick of a J3 Cub. At least they have all the controls.

[Hawkeye]

The way I see it ..the thing should only be flown at heights that won't kill you if it decides to fall from the sky but that prolly wouldn't be as much fun then ....thinky

[fewferfev]

Here's a take on the Dow to gold ...

http://smartmoneytracker.blogspot.com/

[lunar]

...what to do ---> or --->

[3Putt]

The way I see it ..the thing should only be flown at heights that won't kill you if it decides to fall from the sky but that prolly wouldn't be as much fun then ....thinky

Just read this one their website

The Flying Inflatable has a rigid hull inflatable
and a 36' Ultralight Wing. It is powered by a water cooled, 582cc, two
stroke Rotax engine. Simple and reliable, these engines are proven power
plants for ultralights. This crazy craft can fly to heights of 10,000 feet,
and features two passenger seating. And, if you're the adventurous type
you can even turn the engine off, and glide like a bird to a nice soft
landing on the water.

10,000 feet, yikes

[Unca Walt]

Just read this one their website



10,000 feet, yikes

Just think about standing on top of a telephone pole (wozzat? 50 feet?) Now fall off. Screw 10,000 feet.

Sorta like "Unsafe at any speed"...

[Hawkeye]

DEAL OR NO DEAL Goldeeze is still winning ..... 1650 is the next nut to crack



Unka Bucky is crawling across da floor lookin for his next fix .....

[lunar]

....................................

[lunar]

..............
......

[British Sovereign]

Sorry mates, it's time. I'm selling my contracts. The metal is in deep storage for the end of times.

[Hawkeye]

[Goldhedge]

WHOOT! WHOOOOOOOT!

that's the opposite of the submarine sound AHOOOGA! AHOOOOOOOGA!

when they yell "DIVE! DIVE!"

[Hawkeye]

WHOOT! WHOOOOOOOT!

that's the opposite of the submarine sound AHOOOGA! AHOOOOOOOGA!

when they yell "DIVE! DIVE!"

Did you just kill my thread?

[Hawkeye]

Example two is now with the break-out up ....fwiw

[LToro]

Thanks for all your hard work through the years Hawk!

[Goldhedge]

Did you just kill my thread?

?? Gold is up $1.30 tonight....

[lunar]

bigdad06 ...interesting



...and here is the article ---> http://dont-tread-on.me/the-rothschi...tile-exchange/

after reading the whole story...interesting - but a little conflicting anyway he says buy silver

[Shine on]

Well, we can't let this become a ghost thread now can we? Anybody still breathing?
In my minds eye, I picture the technicians of this thread saying "Ah scr** it!, I'll know more after the market closes this week."
The bullion-only guys are working on their self-control " I won't say I told you so."
And the rest of us are just a little numb. My account took a drubbing. The breadth was impressive. Even contrary minded stocks like TYHEE joined the slide.
I am not expecting another 2008 here. I actually have some cash in my account that I was hoping to deploy after a little correction in the miners, and with that, set myself for the ride into next year.
If the momentum and volume of the decline in these miners eases tomorrow, then I am considering buying some shares come Monday.
Please tell me if I am nuts. No- wait, I know that already. Tell me what you think of my plan.
Thank you Hawk for the info you share on this thread.

[Hawkeye]

Ah screw it .....

[Hawkeye]

Lower high is inna bag ....fwiw .....welcome to the Abomination of Desolation or is it ...obamanation

[lunar]

....silver and gold

[jbilprophet123]

S&P Downgrade of US credit rating and how that will affect gold price lot of discussions around that over the weekend. All know one thing it will be big positive for gold.
I think it is more like all knew one thing US debt ceiling agreement will be negative for gold, while bond market to start with have never shown any doubt on that front.

Interesting times .. What is opinion here? Everyone knows what the us credit condition really is.
Will one rating really make a difference?

[StateofJefferson]

One area that will be immediately affected by the downgrade are the institutions such as pension funds, foundations etc. that are regulated by their own charters that say they can only purchase AAA rated bonds. Now what happens?

[C&L 1911]

One area that will be immediately affected by the downgrade are the institutions such as pension funds, foundations etc. that are regulated by their own charters that say they can only purchase AAA rated bonds. Now what happens?

They change their regulations to allow AA rated bonds? Because it's the right thing to do to save us from the meltdown?

[Unca Walt]

IMO (and if I wuz runnin' a pension fund or whatever)... switch to PM's. FAST. Like... today.

The stock market will take an enormous poop on Monday.

[jbilprophet123]

One area that will be immediately affected by the downgrade are the institutions such as pension funds, foundations etc. that are regulated by their own charters that say they can only purchase AAA rated bonds. Now what happens?

Correct. So lot of safest investment must sell those bonds and raise cash.

[1] Cash coming out of bond market goes to stocks they say and lift stock market.

[2] Lower rating of bonds = higher yield => higher interest rates or effect equal to increasing interest rates.. which is surely bad for gold.

[3] As was happening lower confidence on USD means usd going down and gold positive.

Well there i stop thinking surely
[1] is not happening because this is bad for stock markets.
[2] must be something wrong, lower rating can not equate in gold price down no way so we have

[4] Lower confidence in fiat means gold higher.

All in all totally confused about gold direction how it will affect. Markets it must be real bad but what about [1].

So go with first gut reaction bad bad thingy us rating down so gold must go up!!

Well SJ, anyonw please reply point by point thanks.

[Goldhedge]

Hawk, how about a chart on POT...sitting on support...? tia

[StateofJefferson]

Jbilprophet123:

To respond to you point by point would be meaningless because I do not know what will happen in the short term. C&L 1911 may be right and some institutions will change their buying criteria from AAA to AA. But this coming week has the potential to be the most volatile that any of us have seen over the past 10 years. It would not surprise me to see $1500 USD Gold or $1750 USD Gold. I am a pretty steady Eddy and do not make big moves in or out of the PM market. I feel comfortable is saying by the end of the year, I expect to see $1,850 +/- USD Gold. Silver I have given up predicting. We are in a slow motion crash right now. There is no turning back and most of our friends have ignored our advice to prepare. I think the volatility we are now starting to experience will bury good traders hopefully not you and others who share their charts. It is time to batten down the hatches.

[jbilprophet123]

Jbilprophet123:

To respond to you point by point would be meaningless because I do not know what will happen in the short term. C&L 1911 may be right and some institutions will change their buying criteria from AAA to AA. But this coming week has the potential to be the most volatile that any of us have seen over the past 10 years. It would not surprise me to see $1500 USD Gold or $1750 USD Gold. I am a pretty steady Eddy and do not make big moves in or out of the PM market. I feel comfortable is saying by the end of the year, I expect to see $1,850 +/- USD Gold. Silver I have given up predicting. We are in a slow motion crash right now. There is no turning back and most of our friends have ignored our advice to prepare. I think the volatility we are now starting to experience will bury good traders hopefully not you and others who share their charts. It is time to batten down the hatches.

Yes. My opinion also about,
>> It would not surprise me to see $1500 USD Gold or $1750 USD Gold.
instead it is,
>>It would not surprise me to see $1500 USD Gold AND $1750 USD Gold.
1750 happens first. The 100$ swing may finally be here.
Something like from 1663 to 1695 on Monday. 1695 to 1775 on Tuesday closing at 1720.
And 2000 point dow crash in rest of week for gold to end 1530s..

It will satisfy pure adrenaline junky in me even sitting on sidelines

Thanks SJ for concern. My first promise to myself is never again if a repeat of 2008 was to happen will i be caught with 100% long miner portfolio and I am serious. No crash of any variety will kill me. Ofcourse possibly at the cost of loosing huge upside.
And i am kind of hoping for crash of similar nature within a month.
So that i can increase my physical as much as by 100% with increments of 1/3 for every 10% down from top of POG that will be reached this week or next..

It is my trading stock portfolio that i am unwilling to "invest" into gold miners cause imvho the risk level or investment market conditions are above my tolerance levels..

Time has come to increase physical safty % allocation to a much higher number

[lunar]

[Aussie]

They change their regulations to allow AA rated bonds? Because it's the right thing to do to save us from the meltdown?

Aren't we forgetting that it's only a downgrade from S&P - it's not universal. There are two other major ratings agencies that have NOT downgraded the US and have both indicated they won't, therefore bondholders can legitimately claim that they are still holding AAA assets as rated by Moody's and Fitch. I'm not sure that this is going to have as big an effect as everyone here thinks. We shouldn't forget that there is no where else for any governments and major corporations to go to park their cash other than US Treasuries. Does anyone think that Apple has it's $72B cash hoard sitting with Bank of America or Wells Fargo . . ?

[Artificial Sheep]

Aren't we forgetting that it's only a downgrade from S&P - it's not universal. There are two other major ratings agencies that have NOT downgraded the US and have both indicated they won't, therefore bondholders can legitimately claim that they are still holding AAA assets as rated by Moody's and Fitch. I'm not sure that this is going to have as big an effect as everyone here thinks. We shouldn't forget that there is no where else for any governments and major corporations to go to park their cash other than US Treasuries. Does anyone think that Apple has it's $72B cash hoard sitting with Bank of America or Wells Fargo . . ?

Yes good point. Martin Armstrong just released a paper on this very subject. He's fairly critical of the downgrade.
http://www.martinarmstrong.org/files...08-06-2011.pdf

[StateofJefferson]

I guess we are getting a partial answer here to the downgrade. Gold up $29 USD in the first three minutes.

[Hawkeye]

[jbilprophet123]

Well Hawk da Man,
What is the story that goes along with this kind of chart action?
What I feel is this chart shows what should not have happened.. or one last
thrust up which can carry swift to new peaks but does not last long..

A test of breakout from 1720-40 or whatever higher number to 1660 is inevitable and it is at that test if it holds or breaks into the channel that determines the trading action.

Is this storyline on right path?
Oh Master Hawk please provide commentary..

[British Sovereign]

Gaps must be filled. I'm buying out of the money puts.

JS has been extremely interesting lately. His Greenspan speak says that gold is going to be volatile until 1764 and not to be on margin unless you're Goldman, manipulation will be rampant. Years ago JS commented that $1650 would be the baseline for gold. He said the price would probably overshoot the target and then fall back to the baseline. He's now saying $1764 is the point of loss of fiat currency confidence. These are were OUR gains will be made.

Be looking and listening where the next opportunity will be made. I hope it's not buying into the new Soylent Green project. I've owned a position in gold/silver since August 2005, I'm now holding $1 million in metal. There's always a next investment.

[lunar]

in CHF ...not very amusing

[Hawkeye]

Well Hawk da Man,
What is the story that goes along with this kind of chart action?
What I feel is this chart shows what should not have happened.. or one last
thrust up which can carry swift to new peaks but does not last long..

A test of breakout from 1720-40 or whatever higher number to 1660 is inevitable and it is at that test if it holds or breaks into the channel that determines the trading action.

Is this storyline on right path?
Oh Master Hawk please provide commentary..

Jbil ....anytime we get a break-out it's worth noting that as a sign of strength, and with that we must look at all the indicators. STO is still giving us a sign to stay long in some fashion but you can bet I'M TAKING SOME OFF THE TABLE at these levels I've always been a fan of trying to read the charts in a way that gives me more

This thing here is looking like catchin a hot knife thru butter ...fwiw

[Hawkeye]

Hawk, how about a chart on POT...sitting on support...? tia

Sorry I missed this .....this thing is very tradable as you can see ....sto is imbedded though so don't go all in just yet ...fwiw

[bemac]

POT is always good to own.

[Hawkeye]

Dow Jones plummets 634 points

[jbilprophet123]

POT is always good to own.

Specially in times like this...


Whoosh lol Hawk

Dow scenario goes to whoosh whoosh 8800 to bounce and whoosh again to 8300 and makes a nice cramping house in that zone to breakout either ways .. Humm not good too negative ..

Ok FOMC is here and Fed will save the markets again Wednesday!! Yes better
But how will they do that humm humm

Whoosh whoosh and poof time..