Wednesday, September 08, 2010

Gold and Silver - new record today?

Strong action indicates we may see a couple of new records today, even thought both are a bit overbought...

Excellent read: Gold Entering a Virtuous Circle

GOLD






SILVER



8 Comments:

At 9/08/2010 7:57 AM, Blogger BxCapricorn said...

Continuing to buy short silver via ZSL. Trying to press my average down below $28 today. Wish me luck.

 
At 9/08/2010 9:00 AM, Blogger BxCapricorn said...

Randy, over on Clusterstock, there have been fascinating stories about the real estate Ponzi scheme going on in China. Currently, there are 64 million unoccupied homes in China. I can only imagine that the World's second largest economy, built on exports and real estate, is about to follow our example, and implode all over itself. You would think that Chinese banks learned from what happened here, but they seen destined to repeat it.

 
At 9/08/2010 9:13 AM, Blogger BxCapricorn said...

Here's a link

http://www.businessinsider.com/there-are-now-enough-vacant-properties-in-china-to-house-over-half-of-america-2010-9

The usual players...

 
At 9/10/2010 2:19 AM, Anonymous jacky said...

lovely graphs i must say. I have no idea what they mean, but i guess it is something to do with the value of silver and gold! But i do love the graphs from a simple aesthetic point of view!! lol!

 
At 9/10/2010 8:37 AM, Blogger BxCapricorn said...

More research on the Chinese property bubble and unoccupied homes revealed...

http://www.businessinsider.com/what-happens-to-us-if-china-blow-up-2009-11

Which, although written almost a year ago, does fit in with Elliott wave theorists like Prechter...perfectly. Bankers pull the plug on the real estate market over there and it's domino number one...

 
At 9/10/2010 1:49 PM, Blogger tenax_technologies said...

Very nice graphs i must say.

web application development

 
At 9/14/2010 6:47 PM, Blogger BxCapricorn said...

This trade continues to befuddle yours truly. I realize that the prop desks of many high profile banks have closed, but if you think they've gone for good, you're dreaming. They've gone private and assumed other names, and aren't going to be pulled back by some mainstream banking operations personnel. As I write this, silver is at $20.52, and tomorrow may see a new high for silver. I've been shorting silver since $19.60 and anything below $19.85 gets a profit. We'll see how this pans out.

I don't see how silver, allowed to skyrocket, is going to find favor with the tech industry, and silver may have experienced the perfect storm: the Yen being allowed to rise due to the recent election results in Japan, the dollar backing down to the support line, and the closing of prop desks. No segue...

Tea-party win in the GOP primary in Delaware was unbelievable, so we'll see how the other six contests pan out. I wish the TP actually had a broad, focused platform of ideas...we'll see.

 
At 9/14/2010 7:48 PM, Blogger BxCapricorn said...

Well, that didn't take long

http://www.bloomberg.com/news/2010-09-15/japan-intervenes-for-first-time-since-2004-as-yen-surge-threatens-recovery.html

Looks like the Yen getting stronger threatened the export economy of Japan. Who'd have thunk? Cue dollar rally.

 

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