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Julius- Thoughts on precious metals FFTA


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#51 TakeAStepBack

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Posted 28 February 2012 - 07:30 PM

Looks like you weren't the only seller, J. :one:

#52 MeOmYo

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Posted 28 February 2012 - 07:30 PM

Oh Shit, PF woke up.

#53 PeaceFrog

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Posted 28 February 2012 - 07:34 PM

Looks like you weren't the only seller, J. :one:


derp.

he said he was going to sell when it stopped going up.

#54 TakeAStepBack

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Posted 28 February 2012 - 07:35 PM

I still don't know what to make of palladium......

#55 PeaceFrog

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Posted 28 February 2012 - 07:38 PM

Oh Shit, PF woke up.


you're such a noob. I don't ever sleep.

#56 beerzrkr

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Posted 28 February 2012 - 07:40 PM

If it all blows up lead will be much more useful than anything else. It

#57 PeaceFrog

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Posted 28 February 2012 - 07:40 PM

Warren Buffet says if you buy anything it will be more valuable in 20 years.

I'm more interested in what Julius does. It's risky, but could be very profitable.

#58 TakeAStepBack

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Posted 28 February 2012 - 07:43 PM

Oh Shit, PF woke up.


PeaceFrog This user is on your Ignore List.



:lol:

#59 PeaceFrog

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Posted 28 February 2012 - 07:48 PM

too bad, too. I could tell you what a short sale is.

#60 TakeAStepBack

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Posted 28 February 2012 - 07:50 PM

[quote name='beerzrkr']If it all blows up lead will be much more useful than anything else. It

#61 Julius

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Posted 28 February 2012 - 07:51 PM

Silver and gold are both up today because of an expected European liquidity injection tomorrow (i.e. additional currency debasement). I fully expect to get back in after they sell the news.

#62 TakeAStepBack

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Posted 28 February 2012 - 07:55 PM

I was just about to say.....does that also mean greece finalized a deal (haven't checked the news)?

#63 PeaceFrog

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Posted 28 February 2012 - 07:56 PM

So Julius, do you rely more heavily on fundamentals? That's how it sounds to me... or do you rely on a little of both fundamentals and technicals?

#64 Julius

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Posted 28 February 2012 - 07:59 PM

So Julius, do you rely more heavily on fundamentals? That's how it sounds to me... or do you rely on a little of both fundamentals and technicals?


Fundamentals tell me *what* to buy/sell, technicals tell me *where* to buy/sell.

#65 beerzrkr

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Posted 28 February 2012 - 08:03 PM

Can you ellaborate on that?

I'm of the opinion that metals are good for the long term investment and can also be a good mode of exchange to have on hand (junk silver be a good choice) should "doomsday" occur economically.


just jokin. If doomsday does occur, lead will get you food, gold, silver, hell anything you want. Especially in places that had strict gun laws.

#66 PeaceFrog

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Posted 28 February 2012 - 08:04 PM

Fundamentals tell me *what* to buy/sell, technicals tell me *where* to buy/sell.


nice... thank you.

(seems like common sense now that you said it, but that's why you're a pro!)

#67 capt_morgan

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Posted 28 February 2012 - 08:06 PM

can i invest in uranium?

#68 TakeAStepBack

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Posted 28 February 2012 - 08:07 PM

just jokin. If doomsday does occur, lead will get you food, gold, silver, hell anything you want. Especially in places that had strict gun laws.


Wow, totally went over my head. :lol:

#69 PeaceFrog

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Posted 28 February 2012 - 08:07 PM

can i invest in uranium?


I'll give you some uranium if I can have a plot of Uranus.

#70 PeaceFrog

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Posted 28 February 2012 - 08:09 PM

Wow, totally went over my head. :lol:


that's so hard to believe :lmao:

#71 TakeAStepBack

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Posted 28 February 2012 - 08:12 PM

Silver and gold are both up today because of an expected European liquidity injection tomorrow (i.e. additional currency debasement). I fully expect to get back in after they sell the news.


WRAPUP 2-Irish vote, German court add euro zone uncertainty

Ireland to hold referendum on euro zone budget discipline pact

* German court sidelines fast-track panel on bailout funds

* Ruling may slow approval, crimp Merkel's scope to act

* EU seeks Spain explanation on deficit, not weighing leniency

* Portugal says won't seek extra EU funds

By Padraic Halpin and Eva Kuehnen

DUBLIN/KARLSRUHE, Germany, Feb 28 (Reuters) - A planned referendum in Ireland and a German court ruling cast new uncertainty on Tuesday over efforts to overcome the euro zone's debt crisis, just when a flood of central bank money appeared to be calming financial markets.

Ireland's prickly electorate, which has twice voted "No" to European Union treaties before reversing itself, will get another chance to keep Europe on tenterhooks with a referendum on a fiscal compact on budget discipline agreed last month.

"The Irish people will be asked for their authorisation in a referendum to ratify the European stability treaty," Prime Minister Enda Kenny told parliament after the state's top lawyer advised that on balance a plebiscite was necessary.

Kenny set no date for the vote in a country that received an EU/International Monetary Fund bailout in 2010 after suffering a shattering banking crisis. Public support for the EU has since fallen due to the unpopularity of harsh austerity measures.

EU diplomats tried to frame the treaty to avoid the need for a referendum, which Ireland has to hold on any major transfer of power to Brussels.

Given the Irish track record of anti-establishment votes on European issues, the campaign could unsettle markets even if the main establishment parties back the pact.

However, unlike full EU treaties this inter-governmental accord does not require unanimity. It enters into force once 12 countries have ratified it.

Germany's top court earlier overruled government efforts to push decisions on disbursing euro zone bailout funds through a special fast-track parliamentary panel meeting in secret.

That may limit Chancellor Angela Merkel's room for manoeuvre on future bailouts, which was already in doubt after a revolt by 17 lawmakers in her centre-right coalition against a second rescue package for Greece, approved on Monday.



:huh:

#72 Julius

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Posted 28 February 2012 - 08:13 PM

I was just about to say.....does that also mean greece finalized a deal (haven't checked the news)?


That's one of those things that used to matter but doesn't anymore. Europe is saved for now thanks to ECB liquidity injections that allow the banks to buy up more of that shitty sovereign debt.

#73 TakeAStepBack

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Posted 28 February 2012 - 08:14 PM

It must be a pain in the arse to be a short term trader in this current world financial climate.

Props to the pros.

I'm still gettin' my learn on in this game.

#74 TakeAStepBack

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Posted 28 February 2012 - 08:15 PM

That's one of those things that used to matter but doesn't anymore. Europe is saved for now thanks to ECB liquidity injections that allow the banks to buy up more of that shitty sovereign debt.


Thanksy.

#75 Julius

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Posted 28 February 2012 - 08:33 PM

The mainstream media doesn't report on things like ECB liquidity injections because it doesn't sell advertising! Plus unless you're me, it is terribly dull. What they report on is politics, not economics.

This is why I'm so adamant about having strong central banks, because they can act for the greater good without considering reelection when the (fucking useless, IMO) politicians make the news with all their unproductive squabbling.

#76 Julius

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Posted 28 February 2012 - 08:42 PM

A.K.A "End that thing none of us understand!!!!" :lol:

Sorry, couldn't resist.

#77 TakeAStepBack

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Posted 28 February 2012 - 08:44 PM

True dat.

Cept you know my thoughts on free markets and the incompatibility of those with central economic planning.

Since we're doin' it this way, might as well, might as well....

#78 TakeAStepBack

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Posted 28 February 2012 - 08:45 PM

Oh, I get how it works. But like you said, getting the low down is not put out there by the MSM. It's the old "man behind the cutain" deal.

#79 PeaceFrog

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Posted 29 February 2012 - 12:40 AM

It's beyond me how someone can know so little about the current economic system, yet be 100% committed to toppling the whole thing over on its head :loopeye:

never claimed to know it all myself, but I know enough to be a gradualist.

#80 MeOmYo

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Posted 29 February 2012 - 02:59 AM

It seems most things are beyond you.

#81 PeaceFrog

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Posted 29 February 2012 - 03:23 AM

that's an ironic statement coming from someone among the minority of Americans who thinks this country needs a revolution.

wouldn't that mean, logically, that most things are beyond you which is why you disagree with modern reality?

although, I do tend to agree with you. I'm not so arrogant as to think I've figured out the meaning of life including the one true way.

so you're right, most things are beyond me. You win the internet. Now go start a religion. You're already halfway there.

#82 Julius

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Posted 29 February 2012 - 03:36 PM

See what happened today? Eurozone announced more liquidity than expected, but everyone already expected them to so gold and silver are down. Sell the news muthafucka!

#83 TakeAStepBack

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Posted 29 February 2012 - 03:43 PM

I saw that....

ECB hands €529bn in emergency loans to European banks

[QUOTE]Second batch of three-year LTRO loans takes total lent to more than €1 trillion, as ECB seeks to stave off eurozone credit crunch


Europe's banks took up €529bn (

#84 TakeAStepBack

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Posted 29 February 2012 - 03:45 PM

See what happened today? Eurozone announced more liquidity than expected, but everyone already expected them to so gold and silver are down. Sell the news muthafucka!


I'm still trying to really get a grasp on how the CBs effect the commodity markets when they make moves. Since I've never been one to play the market it's a new thing for me.

It's still interesting and I do like gettin' my learn on.

#85 Julius

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Posted 29 February 2012 - 04:32 PM

My neighbors are wondering why there's this crazy guy screaming SELL SELL SELL!!!!!!!!!!! out his window today. :lol:

#86 Julius

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Posted 29 February 2012 - 05:12 PM

Bernanke's testimony today is a game-changer. Now I'm short silver. I know, I'm a ping-pong ball. :lol:

#87 TakeAStepBack

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Posted 29 February 2012 - 05:19 PM

You kinda have to be in this climate though, no?


I'll check to see what the wizard of Oz said too, thanks.

#88 Julius

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Posted 29 February 2012 - 05:55 PM

You kinda have to be in this climate though, no?


I'll check to see what the wizard of Oz said too, thanks.


In short, he said the economy is recovering just fine by itself and the fed is on hold for now. = stronger dollar, neutral for stocks, bad for metals. I'm down to 2% in gold for now.

#89 TakeAStepBack

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Posted 29 February 2012 - 06:01 PM

I watched his testimony. Seems he was saying that growth will be modest this year, brought up skewed UE percentages as being better, inflation is within the 2% barrier (I've heard more like ~3-4%, but irrelevant here of course), job creation continues to grow moderately.

Stocks were up when the commerce department released the 4th quarter growth revision and then Bernanke makes them tank in the negative....

I've got a lot to learn about playing the stock market.......

#90 Julius

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Posted 29 February 2012 - 07:20 PM

Good housing data, good consumer confidence data = I'm buying a copper miner this afternoon. They call it "Doctor Copper" because it advances ahead of economic recovery.

#91 TakeAStepBack

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Posted 29 February 2012 - 07:22 PM

Just curious, j. Where do you go for index pricing on gold and silver (or any other commodity index)?

Can you recommend some reading material, websites, etc.. on how to be an effective participant in the market? I'm specifically looking at commodities.

#92 Julius

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Posted 29 February 2012 - 07:28 PM

160 shares of FCX@ 42.72, just so I'm on the record.

#93 Julius

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Posted 29 February 2012 - 07:31 PM

Just curious, j. Where do you go for index pricing on gold and silver (or any other commodity index)?

Can you recommend some reading material, websites, etc.. on how to be an effective participant in the market? I'm specifically looking at commodities.


I'm running out to drive 200 miles round trip get my franken-stitches out in few but I'll think on it and get back to ya. :smile:

#94 TakeAStepBack

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Posted 29 February 2012 - 07:32 PM

Much appreciated. Good luck on teh drive and the stitching. :smile:

#95 PeaceFrog

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Posted 29 February 2012 - 07:57 PM

he doesn't even know what it means to short sell.

and yeah the stock market is unreal. I couldn't deal with it. I won a little and lost a little, but seemed to be just fumbling all the time and not making nearly enough as I could have, or losing more than I should have. It was more stressful than it was worth to me, but maybe I wasn't doing it right. I have a feeling that most people who try don't.

I know there's programs on Ameritrade now that supposedly help you out... haven't tried them, though.

If I had enough money, I might try options... seems like you could really do well with those... at least on paper when your real money isn't involved or it's just spending money... just takes money to make money.

When your rent money is on the line it's just too easy to chicken out.

The worst is being greedy and not selling when you should have. If you end up losing on a trade that was a winner, you know it's time to quit. Fear and greed are the only motivators in that game. (adrenalin junkie's delight)

I'm getting stressed just thinking about it.

#96 Julius

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Posted 01 March 2012 - 07:07 AM

I smell short term weakness. SHORT both silver and gold now, although long-term it's still going up.

#97 TakeAStepBack

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Posted 01 March 2012 - 02:24 PM

Definitely short term weakness. :jimy:

#98 PeaceFrog

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Posted 01 March 2012 - 06:03 PM

A "retracement" or "correction" in technical terms, right? People taking their profits.

I understand all this the moment right after it happens, which is a moment too late to make any money off it.

I can't short sell anything because I don't have enough money for a margin account.

#99 PeaceFrog

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Posted 09 March 2012 - 05:34 AM

Hey Julius!

The US Dollar is going up vs the Yen... seems to have been going strong for at least a month now and broke through a downtrending line that's been happening for about 10 years now.

What does it all mean?

PS... as a hobby I trade Forex microlots and made a few bucks! I'm on my way to retirement. (literally a few bucks as I trade only 1 microlot at a time... I'm conservative... I could have made a million bucks if I had more balls)

#100 PeaceFrog

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Posted 13 March 2012 - 04:45 AM

just bought the USD/JPY again. Had an entry order set and as soon as it went off went up 20 pips!

I'm still in, but that's great when you win like that right away. I had the perfect entry point I think... we'll see. (82.203 just a minute ago before it went up)