Tuesday and The Doctor Is In saying don’t discount tapering.
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I am probably as optimistic about gold as I am about the Dawgs this coming year which I think will be incredible assuming the Cougs quarterback goes to the pros!
Ready set life off!
2014 should be a big year for stocks!
My Nuskin (NUS) which I still havent sold continues to amaze. Just broke out again and shouls hit $140 soon
All systems go
Ben and co. did it! I salute you Don Ben.
Gold totally broken
NUS is extremely overbought on the weekly and even the monthly chart. Sure, it could easily see $140 (its P&F price objective is $167, btw), but there are negative technical divergences that urge caution. I think it could see $60/share in 2014 no problem.
And that is what makes the world a very interesting place. Divergence of opinion!
I simply cannot agree with that about gold!
Matthew – there is a time and a place for technicals and then there is a time and place for fundamentals, and then there is a time and a place when you have an edge over the crowd. Ive been in this since $30.
Ackmen and his herbalife short is screwed and nuskin is along for the ride as well.
great product too! my wife adores it!
That’s funny stuff James. There is always a place for technicals. Interpretations vary, but the technical action has has a story to tell.
The “edge” you think you have over the crowd is going to hurt you. Remember when you stated that it was not too late to buy bitcoin (when it was about $1200)? Such confidence always comes at a top.
If you were in NUS at $30, why not take your 4-bagger and be happy; or at least remove your initial capital plus enough to cover taxes? Just a thought.
Book value for NUS is $12 and change. Value is what matters, not how great the product is or whether or not your wife loves it.
Don’t give your gains back.
Looking at that chart, I would certainly lighten up!
Heres my wrap up….im the last gold bull out of the pen tripping over my hind legs.
TO ALL GOLD BEARS…….THE SHORTING TRADING RULE
TIME IS NOT ON YOUR SIDE . Last bear out please turn out the lights
Heavy, in my opinion it again all depends on why a person is in in the first place. (Little play on words)
Fudamentals and technicals are just fine in a market that is free. With the manipulated PM market that we are witnessing, I think Ted Butler is right when he says that JPM will decide when the move will come.
I have always thought that this point was a valid one. Talking with Rick; however, he seems to be able to work through it.
Doc, I think the banks are more worried about themselves than to our country or anyone in it. Only after they throw grandma and grandpa under the bus to save their own skins will they dump bonds and buy gold to preserve their capital. Until then, the fleecing of the lambs will continue.
Don’t know about grandma and grandpa, but self preservation certainly is in the game.
Matthew – I was recommending bitcoin in the $250 area as well.
After it hit $1200, for the second time, it did come back down to about $500, but then went all the way back to almost $1000 again before this recent sell off. So there was plenty of opportunity to make money.
Adn yes I know its not about my wife loving it.
and yes value matters, that is what I have been preaching for months on this site.
most people dont get it though
I gotta tell you man, I simply do not see any fundamental value in bitcoin.
You’ve been preaching that value matters? NUS is trading at 10 times book while the S&P 500 is trading at 2.6 times book.
Some of the miners I’m buying are trading at .2 times book and Newmont (NEM) is trading at 1x book. The risk is not where you think it is.
Al, obviously I have a huge position in gold and not bitcoin. But I do see so,e value in bitcoin. It has a minimal transaction fee, so it is a very good payment system. Also it is a deflationary currency. They can only mine 22 million, and even though it can go out to the 6 decimal place,there will only be so many made. Not to mention a fair % of them will be destroyed due to hard ware failure, loss of password…is the bubble over? Not sure.vit could be, but then again if the $ collapses people might go for gold, and a fair enough % of them might go for bitcoin as well. Sometimes you have to know when to take a shot. If you are ahead at the track sometimes you can loosen up and go for a flyer,while someone else who is in the hole has to play it too cautious. Speculating isn’t always the technicals, it’s an art as well as a science
James, can u recommend a site to follow the daily, hourly, price of Bitcoin. Thank you..in advance!!
Yeh, but what guarantee does anyone have that it will stay straight?
Yes mtgox.com is one of the largest bitcoin exchanges out there. They have the real time bitcoin quote. Right now it is $690 a coin. It’s come down off its high but still way up overall.
Everyone is waiting for the Fed as though they actually help the economy and have any real control over it. Stock prices and gold/silver are about all they can control.
http://www.safehaven.com/article/32150/gold-money-velocity-takes-centre-stage
If they want to lower the dollars value they need to let gold rise…simple
The major gold stocks are doing well ahead of the Fed -gg, nem. Traders appear to be positioning for a move and giving the middle finger to the Fed.
Excellent analysis by all. Deflating our currency historically is only a short time fix in the current race to the bottom as exemplified by Japan and other countries like us..
How this this affect the future price of PM’s I believe is fairly predictable unless China totally tanks which I don’t think will happen. If interested, see my comment on yesterday’s forum subject “Handing us gold on a solver platter” which was posted by Cory. Long term, I remain optimistic on the PM’s.