Post by
valueplaysonly on Oct 28, 2013 10:35pm
I sold at 6.50 also
Im looking for a re -test of 5.25. I think Alcoa breaks 10.50 in the next 4 weeks. I think also there will be run on gold soon. China and other big players know that America has made alot of enemies among its allies for spying on them. The high US dollar ( until lately ) has sabotaged South America and emerging markets by crushing commodity prices and making imports expensive. The quickest way for a pay back is for all of these parties to buy gold en masse .American banks hold little gold and with the uber quick rise in interest rates the last 6 months dampening profits, I dont think they are in a position to buy alot of gold as well. When Goldman lowers targets on gold its because Goldman is scared sh^^less they are caught on the wrong side of the trade and will be fleeced once a co-ordinated attack is in place. Read the tea leaves people!!!!!!!!!!!. All that eavesdropping was so that Washington and the Fed could use that info to devise monetary plicy in way to boost the USA at the expense of every body else. Guess what? Payback's a beyotch and Goldman, the Gartner Letter, and every pundit on CNBC who touts gold as going to 1050 will be fleeced. Even that old coot Buffett will be whipsawed because he does not believe in gold. When gold breaks 1450 there will be the first signs of panic. Look for the media to encourage to sell on the pop. Once it hits 1450 China, India and others will launch it from there. The result will a violent reversal back into commodities, gold, silver, copper, oil and gas.
Also, by the way Ted Cruz wife is a big wig in Goldman's Investment Banking division. Goldman has been bearish on metals and precious metals and has worked in co-ordination with the LME to drive down prices of base and precious metals, in particular ALUMINUM. Again , nary a peep on this from mainstream media. Im long on gold , IMG, K offer the best upside, AEM is the highest quality name to own in the space.
Looking forward to a return of 120 oil, 1800 gold, 4 dollar copper and me spitting my phlegm on a Manhattan side walk.