Comments on: Video ~ 10/11/08 http://www.focalequity.com/2008/10/11/video-101108/ The Focal Point for All Traders Fri, 03 Sep 2010 10:54:23 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: pmesdjian http://www.focalequity.com/2008/10/11/video-101108/comment-page-1/#comment-5049 pmesdjian Mon, 13 Oct 2008 03:08:04 +0000 http://www.stocktock.com/?p=6451#comment-5049 Dan, Gold has been selling off recently due to central banks around the world selling their gold holdings. I can't speak in regards to industrial or consumer demands for the metal. I do believe the worst of this historic panic is not offer. As more banks and other global corporations go bankrupt, I expect gold to go even higher. Investors will dump stocks and buy gold. If you chart gold against any currency, stock index or commmodity (i.e. crude, copper, S&P 500, etc) it's held up very well. I'm not a gold bug but the technicals are very strong. Pete Dan,

Gold has been selling off recently due to central banks around the world selling their gold holdings.

I can’t speak in regards to industrial or consumer demands for the metal. I do believe the worst of this historic panic is not offer. As more banks and other global corporations go bankrupt, I expect gold to go even higher. Investors will dump stocks and buy gold. If you chart gold against any currency, stock index or commmodity (i.e. crude, copper, S&P 500, etc) it’s held up very well.

I’m not a gold bug but the technicals are very strong.

Pete

]]> By: Dan http://www.focalequity.com/2008/10/11/video-101108/comment-page-1/#comment-5042 Dan Sun, 12 Oct 2008 23:56:30 +0000 http://www.stocktock.com/?p=6451#comment-5042 Can you offer some insight on the recent weakness in gold during this historic panic? Also, my concerns about a decrease in industrial and consumer demand for the metal? Can you offer some insight on the recent weakness in gold during this historic panic? Also, my concerns about a decrease in industrial and consumer demand for the metal?

]]> By: Goldshorter http://www.focalequity.com/2008/10/11/video-101108/comment-page-1/#comment-5039 Goldshorter Sun, 12 Oct 2008 21:40:12 +0000 http://www.stocktock.com/?p=6451#comment-5039 sure it will, but just not yet sure it will, but just not yet

]]> By: pmesdjian http://www.focalequity.com/2008/10/11/video-101108/comment-page-1/#comment-5038 pmesdjian Sun, 12 Oct 2008 20:25:16 +0000 http://www.stocktock.com/?p=6451#comment-5038 Gold is in a screaming bull market. Not everyone has recognized it yet. Most of you are looking at gold in USD terms. Why don't you just pull up a chart of gold against EUR or AUD or even CAD. Gold will go higher against all currencies including the USD. Pete Gold is in a screaming bull market. Not everyone has recognized it yet. Most of you are looking at gold in USD terms.

Why don’t you just pull up a chart of gold against EUR or AUD or even CAD.

Gold will go higher against all currencies including the USD.

Pete

]]> By: Goldshorter http://www.focalequity.com/2008/10/11/video-101108/comment-page-1/#comment-5036 Goldshorter Sun, 12 Oct 2008 18:31:38 +0000 http://www.stocktock.com/?p=6451#comment-5036 Why are the technicals great on gold? Just bouncing off a trendline, doesn't indicate we are due for an iteration in the channel. It could very well break down tomorrow. Also the long-term uptrend you are referring to is from 2006 or so, The "true" uptrend started in 2000 or thereof. That uptrend line is still around 600. Why are the technicals great on gold? Just bouncing off a trendline, doesn’t indicate we are due for an iteration in the channel. It could very well break down tomorrow.

Also the long-term uptrend you are referring to is from 2006 or so, The “true” uptrend started in 2000 or thereof. That uptrend line is still around 600.

]]> By: Craig http://www.focalequity.com/2008/10/11/video-101108/comment-page-1/#comment-5035 Craig Sun, 12 Oct 2008 15:14:22 +0000 http://www.stocktock.com/?p=6451#comment-5035 My bullishness of gold is based largely on the technicals. It is the only commodity that has held its long-term uptrend (correct me if I'm wrong). I am not one of those doom and gloom guys that thinks we will actually go back to the gold standard. But I keep an open mind. My bullishness of gold is based largely on the technicals. It is the only commodity that has held its long-term uptrend (correct me if I’m wrong). I am not one of those doom and gloom guys that thinks we will actually go back to the gold standard. But I keep an open mind.

]]> By: msgtb http://www.focalequity.com/2008/10/11/video-101108/comment-page-1/#comment-5034 msgtb Sun, 12 Oct 2008 15:02:24 +0000 http://www.stocktock.com/?p=6451#comment-5034 Remember folks the world used to be on the gold standard. If the fiat system fails the only trading currency would be gold. It would be the world currency with countries paper becoming worthless. Just a possibility but if the world financial system fails please name a better candidate. Good Luck to us all Dave Remember folks the world used to be on the gold standard. If the fiat system fails the only trading currency would be gold. It would be the world currency with countries paper becoming worthless. Just a possibility but if the world financial system fails please name a better candidate.

Good Luck to us all

Dave

]]> By: Dan http://www.focalequity.com/2008/10/11/video-101108/comment-page-1/#comment-5032 Dan Sun, 12 Oct 2008 07:19:50 +0000 http://www.stocktock.com/?p=6451#comment-5032 Another point. Ge mentioned it is starting to see some signs of life in the commercial paper market. And another risk to a long gold position: how much of the demand for gold is related to declining industrial uses and consumer demand for jewlry and other products that will be curtailed with tighter credit? Another point. Ge mentioned it is starting to see some signs of life in the commercial paper market.

And another risk to a long gold position: how much of the demand for gold is related to declining industrial uses and consumer demand for jewlry and other products that will be curtailed with tighter credit?

]]> By: Dan http://www.focalequity.com/2008/10/11/video-101108/comment-page-1/#comment-5030 Dan Sun, 12 Oct 2008 05:52:44 +0000 http://www.stocktock.com/?p=6451#comment-5030 Daneric, I keep posting the same thing. Not sure why Craig is so bullish on Gold. IMO it has downside risk to 3-400 an oz easy. How do you value an asset that provides no cash flows and has a holding cost (security)? Answer - you can't. Gold, will revert to its mean at some point, and like I have posted before, where are the new highs during this historic market panic? Answer -- smart money has bought (the end of the world) rumor and is now selling the news and buying stocks as people panic out of them. Fear and volume reached historic highs on Friday but the prices moved little, to me that means there were some very serious buyers getting in. The whole LEH CDS auction nightmare turned out to be pretty orderly didn't it? Interest rates got cut. A leading indicator of home sales went up. panic selling leads to panic buying - a rally from here could be enormous, while we know what the downside could look like because we have been watching it every day. If we have another big move down monday just sell and take the hit, but when the real rally comes it will be so violent that one will be unable to even get a fill. Daneric, I keep posting the same thing. Not sure why Craig is so bullish on Gold. IMO it has downside risk to 3-400 an oz easy. How do you value an asset that provides no cash flows and has a holding cost (security)? Answer – you can’t. Gold, will revert to its mean at some point, and like I have posted before, where are the new highs during this historic market panic? Answer — smart money has bought (the end of the world) rumor and is now selling the news and buying stocks as people panic out of them.

Fear and volume reached historic highs on Friday but the prices moved little, to me that means there were some very serious buyers getting in. The whole LEH CDS auction nightmare turned out to be pretty orderly didn’t it? Interest rates got cut. A leading indicator of home sales went up. panic selling leads to panic buying – a rally from here could be enormous, while we know what the downside could look like because we have been watching it every day. If we have another big move down monday just sell and take the hit, but when the real rally comes it will be so violent that one will be unable to even get a fill.

]]> By: daneric40 http://www.focalequity.com/2008/10/11/video-101108/comment-page-1/#comment-5025 daneric40 Sun, 12 Oct 2008 03:42:18 +0000 http://www.stocktock.com/?p=6451#comment-5025 I don't like Gold. Here we are in the worst of all possible financial situations in the world fiat monetray systems yet gold sits 10% of its highs from earlier in the year. It is bearish divergeance if I ever saw. Deflation is killing even gold. Cash is needed, gold positions are unwound As much as the financial system is going to hell in a handbasket, gold will not be the replacement anytime soon, particularly paper gold. Waves point down for gold. I see gold heading back to its original trendline. $600 oz within 12 months. Also Vix has finished its wave 3 up move it appears. Wave 4 correction will coincide with market wave iv correction. Then a spike to a new high is likely with new market low withing 2 weeks. Then a nice rally.... I don’t like Gold. Here we are in the worst of all possible financial situations in the world fiat monetray systems yet gold sits 10% of its highs from earlier in the year.

It is bearish divergeance if I ever saw.

Deflation is killing even gold. Cash is needed, gold positions are unwound

As much as the financial system is going to hell in a handbasket, gold will not be the replacement anytime soon, particularly paper gold.

Waves point down for gold.

I see gold heading back to its original trendline. $600 oz within 12 months.

Also Vix has finished its wave 3 up move it appears. Wave 4 correction will coincide with market wave iv correction. Then a spike to a new high is likely with new market low withing 2 weeks. Then a nice rally….

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