lol stock market

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Originally Posted by Wild Cobra

In the 70's, gold rose to above $800/oz. from below $50, just to fall to almost half it's peak in a very short time. It regained a value just over $700 in 1980 just to fall again to about $300. It averaged about $400 until 1996 and slowly dropped again to under $300. In 2000, it started a nominal rise through 2004, then started taking off like it did in the 70's.

It will crash at some point. Just no telling when.

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What's your point?

There's two things affecting gold prices: demand/supply and currency value.
The economy being shit/good affects the first factor, the currency printing press (aka inflation) affects the other.

So, yeah, when the economy recovers and/or the dollar appreciates, then gold will go down. Not crash, but progressively lose some of it's value.

It's completely different from a bubble.

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Originally Posted by ElNono

So, yeah, when the economy recovers and/or the dollar appreciates, then gold will go down. Not crash, but lose some of it's value.

It's completely different from a bubble.

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Well, we disagree. The moment that other large financial assets become more appealing for the future, large owners of gold will move it as fast as they can. This always has a dramatic effect on the market pulled from.

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Originally Posted by Wild Cobra

Well, we disagree. The moment that other large financial assets become more appealing for the future, large owners of gold will move it as fast as they can. This always has a dramatic effect on the market pulled from.

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Sure, and in order for that to happen certain economic indicators need to be a certain way (interest rates, etc). The gains due to inflation though are not going to come down. I'm not going to give you a lesson in economics, you can do the research yourself.

Point is, there's nothing 'artificial' with gold pricing that would put in under the definition of a 'bubble'.

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Originally Posted by ElNono

Point is, there's nothing 'artificial' with gold pricing that would put in under the definition of a 'bubble'.

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That depends.

How has it's value changed compared to other precious metals?

I haven't looked, but that would be an indicator to your statement.

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Originally Posted by Wild Cobra

That depends.
How has it's value changed compared to other precious metals?
I haven't looked, but that would be an indicator to your statement.

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The inflation rate part has changed consistently. The demand/supply part obviously changes differently for each individually. It's not that complicated, and there's nothing artificial about it.

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Originally Posted by ElNono

The inflation rate part has changed consistently. The demand/supply part obviously changes differently for each individually. It's not that complicated, and there's nothing artificial about it.

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I would think the commercialized aspect prodding people to buy gold makes it artificial. People are caught up in the hype, driving prices higher than natural. Just like the house flipping hype.

Just my opinion. Not going to waste time diving into more facts about it since I don't invest in gold.

Marketing for gold is a year-round occurrence at any given time. It's up to the investor to know when to put your money in it and when to take it away. Not much different than any other investment, tbh.

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Originally Posted by SnakeBoy

And I bought a 1000 shares of BoA Monday :depressed

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BAC sucks, at least buy WFC or JPM. :lol

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Originally Posted by Wild Cobra

There will be a lot of angry people when the gold bubble bursts.

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I have to agree with El Nono, the eventual decline in gold value won't be a sudden crash. The decline in gold value will be tied to economic recovery and that's not going to be a rapid process. Besides I just do gold stock so unloading it is just a click of the button away. Even the most conservative estimates now have gold reaching $2500 so I think I'm quite safe. Now there probably will be plenty of people (Beck listeners maybe) who have bought physical gold that will lose money because they've bought into the "gold is a currency and never loses it's value" sales pitch. They'll wait too long and then when they finally do try to sell they are going to be pissed to find that they can only get 85% spot price...if they're lucky.

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Originally Posted by SnakeBoy

I have to agree with El Nono, the eventual decline in gold value won't be a sudden crash. The decline in gold value will be tied to economic recovery and that's not going to be a rapid process. Besides I just do gold stock so unloading it is just a click of the button away. Even the most conservative estimates now have gold reaching $2500 so I think I'm quite safe. Now there probably will be plenty of people (Beck listeners maybe) who have bought physical gold that will lose money because they've bought into the "gold is a currency and never loses it's value" sales pitch. They'll wait too long and then when they finally do try to sell they are going to be pissed to find that they can only get 85% spot price...if they're lucky.

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Even in that case, it depends on what your objective is. If you're just trying to offset inflation, you'll most likely still be ahead even at 75% spot price.
If you're trying to actually make money off it, then sure, you have to be more careful when to switch.

The problem with gold stock vs physical gold is that it's much easier to actually have an actual bubble with the stock than it is to have a bubble with physical gold. That 'trading speed/convenience' cuts both ways. It's just a matter of knowing what the risks are, etc.

True but the risks depend on the type of gold stock. I just stick with the physical indexed ETF's like SPDR GoldShares. Although some think these funds are driving the explosion in gold price

http://etfdailynews.com/2010/06/22/i...ice-explosion/


My investment strategy with any stocks is don't get greedy, take the money and run and don't look back. So my gold fever will break long before everyone elses.

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Originally Posted by Venti Quattro

BAC sucks, at least buy WFC or JPM. :lol

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WFC & JPM are certainly more fundamentally sound. But, if you're looking to make a trader's play BAC has some attractiveness to it. They're more volatile and that volatility provides opportunity for those who can figure out when to jump on and off that roller coaster.

That being said, BAC is down another 3% in pre-market today, so caveat emptor. :)

down 80 points in 7 minutes :lol

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Originally Posted by cheguevara

down 80 points in 7 minutes :lol

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One of the better starts of the last two weeks. :)

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Originally Posted by SnakeBoy

True but the risks depend on the type of gold stock. I just stick with the physical indexed ETF's like SPDR GoldShares. Although some think these funds are driving the explosion in gold price

http://etfdailynews.com/2010/06/22/i...ice-explosion/


My investment strategy with any stocks is don't get greedy, take the money and run and don't look back. So my gold fever will break long before everyone elses.

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That's good. Gold futures is another thing to stay away from.

BOA likes Rick Perry



corrupt fucks...

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Originally Posted by Nbadan

BOA likes Rick Perry



corrupt fucks...

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That's right Propaganda Dan...

Move the slider of this video to 46:09. The guy approaches. Perry flat out ignores him and walks on.

Maybe it was staged by opponents, just to be used!

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Originally Posted by coyotes_geek

WFC & JPM are certainly more fundamentally sound. But, if you're looking to make a trader's play BAC has some attractiveness to it. They're more volatile and that volatility provides opportunity for those who can figure out when to jump on and off that roller coaster.

That being said, BAC is down another 3% in pre-market today, so caveat emptor. :)

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lol down 8% today

Someone here said buy gold some time ago....


tick tick tick

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Originally Posted by Venti Quattro

lol down 8% today

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Bought another 1000 shares today. Man I hope this works out.

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Originally Posted by SnakeBoy

Bought another 1000 shares today. Man I hope this works out.

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Get out of that, scrah. You are going to lose a lot of money. BAC has mightily sucked since they acquired ML, and at least that's just off the top of my head. Ya they're down by higher percentage points because BAC's stock valuation is low compared to JPM, WFC and C. And I mean very low. Their market cap is half of what it was a couple of months ago.

Did you see their 2Q earning release? :lol

BOA is only getting what they deserve. They racked up the percentage rate on their credit cards to insane rates right before the new credit card regulations came up, and I'm not surprised they're getting it in the ass. I had a 14% APR on a card from them, and it shoot up to 28% right before the new regulations. No missed payments, nothing.
Luckily I had little debt on it, paid it off and sent them packing. Fucking scammers.

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Originally Posted by Venti Quattro

Get out of that, scrah. You are going to lose a lot of money. BAC has mightily sucked since they acquired ML, and at least that's just off the top of my head. Ya they're down by higher percentage points because BAC's stock valuation is low compared to JPM, WFC and C. And I mean very low. Their market cap is half of what it was a couple of months ago.

Did you see their 2Q earning release? :lol

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I view my etrade account as gambling money ( i.e. nothing I can't afford to lose) so I can take the risk. Besides I could lose everything I have put on BofA and still be up on the original $ I put into the account. I'm betting time and Uncle Ben are on my side with BofA...we'll see. I wouldn't recommend anyone put their retirement $ on BofA.

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Originally Posted by ElNono

BOA is only getting what they deserve. They racked up the percentage rate on their credit cards to insane rates right before the new credit card regulations came up, and I'm not surprised they're getting it in the ass. I had a 14% APR on a card from them, and it shoot up to 28% right before the new regulations. No missed payments, nothing.
Luckily I had little debt on it, paid it off and sent them packing. Fucking scammers.

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They did the same to me. I had a card with a $50k limit that I only used for some autobill payments. Paid it off each month. They cut my credit limit in half and jacked the interest rate. Then my wife wanted to make a large purchase and I thought I would see if they would do a low interest loan secured with cash since all my accounts were with them. When I went to talk to them they just said we're not doing loans period. So I cancelled the cc and closed all my accounts with them. This was in '09 or early '10.

Edit - so I moved my business to Broadway Bank. Asked them about the loan and they said no problem and gave me the loan (unsecured) at just under 1 over prime.

:lmao BAC

:lmao down when all the stocks are going up