OK people, what is happening next

[roostercogburn]

As far as prices? Should we buy now? Do you think it is gonna drop further? Should we even buy more?
My wife and I have now have 32 ounces. We have an average buy price of $645 per ounce. We are new into the gold buying, but are we too new? Did we buy too late in this run? Should we sell off now and wait to buy at reduced prices?
Maybe we are just a little nervous. We do not need the money we have spent on the gold. We just would like to maximize our margin.
And not seeing much discussion here about anything recently. Figure we may as well get one started.

[delkulara]

Aloha roostercogburn

you shot off questions like an automatic,think of John Wayne as Rooster Cogburn instead,his main tool is the Single Action Army Revolver always on his hip!
It was closest to him,he used others,but this was his bread and butter.If I remember right he even had Hepburn shoot the gatlin it was so foreign to him.

Automatics are full of flaws & bring bears claws in the case of gold.They are quick, but not as steady or dependable as a revolver in the long run.

What I mean by this is a clip,is spring loaded.or hand cranked in the gatlin.
And in the case of gold, a clip is driven by the lips of those in the stock pits as they scheme crank and/or panic.Speculation type buys and sells are always subject to a slip,as corrections attempt to grip,but in reality it is a mere drip within the TRUE demand stream of the worlds needed gold.

A revolver is the true re'solver.
Its spinning action always comes back up on its way around.
When it does,it is empty and needs a refill.

What I am getting at is I see the sell off happening currently being based on the speculation of intrest rates going up.This makes the dollar stronger thus bonds
are looking good to many,so many people are pulling out of "all markets" early and holding the buck in the bank,waiting untill the feds predicted hike of the interest rates at the end of the month to reinvest in bonds and other futures.Today shows this by the whole market system dropping and not seeing a reinvestment only a pull out.Gold is being hit hard as those that drove the price up are now sitting still waiting to buy back in to some degree at a price cheaper than it was when they manipulated it upwards.

I see it like this ,the manipulators caused a panic to buy,so many like you jumped on the wagon,this drove the price up and when it got above 700 the manipulators pulled out with big profits.They now have caused a panic to sell and are driving the gold price down so they can buy it back cheaper than it was a the begining of it all.IMO These types are not bears/omnivores or bulls/ruminants.THEY ARE SHARKS TRYING TO cause FEAR to get people like you (fresh on the wagon)to sell in panic that the price is dropping.

IMO
You bought at $645 per ounce.I would hold that as your balance point.
To buy anymore as it went above 700 you saw that it was going to mess up the scale you set up,so you backed off.
A WISE! move.
I shall not say when to buy more,but at anytime gold is below your $645 point,
You come out ahead of your balance point.

IMO
If you have more money to play with for the medium to long term and want to invest more in gold.
You might want to buy now or wait & see if it goes lower before the feds do "whatever they do" at the end of the month.
IMO it would not be wise to sell now and rebuy,as you have 2 POUNDS of gold!
and to sell any now would be a loss,as you indicate the 2 pounds was "not needed" indicating to me it is a long term investment & in my opinion in the medium to long term GOLD SHALL RISE! above your original investment.

I see what is currently happening is the sharks driving the price down so that India buys more than they would have this year if the price stayed at 700 and above.Indias HUGE buying season is just around the corner.If India can buy cheap they buy more! & it helps to drive the price back up 4 all.

I see all this, because so many anylists stated they could see gold going down to as low as 500 but the same guys stated that it had the possibility of going to 800 to 1000 by years end.NO ONE KNOWs,but they are manipulators and speculators and guide many as the advise and play with others money,the more trades = the more money they make.

Personaly I think 2 pounds is great nest "egg".that is a lot of gold to hold.
And the wise do not place all there eggs in one basket!
I do not know your age & or if you invest in stocks(I dont I am a small fish,I just like to wear gold,and live on a small fixed income)But if you look at nano gold and the things on the brink of public use(within 10 rears)in medicine and high technology nano gold is at the forefront of all nano technology.
IMO nano gold shall be the modern motherload.& the best part is these companies stocks are dirt cheap and most are not on the mainstream market indexes YET! and definantly deserve a look into these companies prospectuses & portfolios.IMO many these nano gold companies stocks have no way to go but up,as long as there nitch's science in nano gold is "close to complete product" and are at the get it into the hands of people stage.
Nano gold is great place to keep ones eye on IMO.

Peace and Aloha
& follow your instincts & not JUST what I or others say.
Just as "THE DUKE" was not a follower and pulled his own ropes & made decisions based on gut heart & mind for the benifit of all he touched.

[roostercogburn]

Thanks for the post! Looks like we are the only two in here at all.
What a drop today! We may buy a few ounces more at the end of the week if prices stay down.

[delkulara]

Thanks for the post!

You are very welcome.

Looks like we are the only two in here at all.

It looks to me like we are not the only ones here.
This thread has been looked at 135 times!

***come on some of you LQQKer'S,please contribute a little here and there,
as I for one would like to see this forum stay around & grow,
and with so many readers I would think those that browse enjoy what they read,
PLEASE add nugget of wisdom and/or a Q once in a while***

What a drop today!

YES IT WAS!
That just shows my point that it was caused by panic caused by SHARKs and once they have fed and filled there pockets again,things shall stablize & rise slowly safely & surely.

I personaly think those at the fed,have intensionaly caused this panic by releasing so much speculation about interest rates,before they make them a reality.

It is a known fact that our current trading system is going thru unprecedented change,as the worlds markets are opening up and U.S. indexes are merging with europes,that combined with internet trading creats a HUGE herd, making the hunt harder for the predators/sharks more & more every day.

IMO I see it as,some of the old boy network at the top,caused this panic to fill there pockets as the world heads into the uncharted waters that the merging markets of stock trading are going into.
A small pool has let them feed in a frenzy whenever they wished to,and an open ocean makes it harder for them to hunt/manipulate prices.


It should be great for everyone on a global scale,by evening the trading field.

Those shark types fear an even full field of healthy animals,showing that predators fear a large herd as they could get stomped on while trying to feed.

Peace and Aloha and Thank you for stiring my mind into action.

[tapasrec]

Originally Posted by roostercogburn

Thanks for the post! Looks like we are the only two in here at all.
What a drop today! We may buy a few ounces more at the end of the week if prices stay down.

Dunno whats going on? Some experts are saying its a 30% correction in the market and as such prices might go down. But today it came down a little and the shot up again by few dollars. But expect that it might go down for few more days before becoming stable.This is based up upon gut feeling rather than research. Do post on if you get some information. I am also looking out for few more buys.

[jadayu]

Too jumpy either way for comfort.

It is supposed to go down after the artists left the scene with the loot. But again the darned thing is going up with jerks and jolts.

Confusing