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  • #14,461
  • Aug 23, 2012 7:00pm Aug 23, 2012 7:00pm
Quoting stewrigh
The other thing I like is confluence and a lot of things are coming together at the 95 level. Still not sure about the fundies tho especially given the correlation with the Aussie(which I'm currently short).
The Aussie is getting beat up due to the poor economic numbers out of China. The fact that the Chinese are willing to post underwhelming numbers probably means that China is currently burning to the ground.
  • #14,462
  • Aug 23, 2012 7:20pm Aug 23, 2012 7:20pm
Quoting clockwork71
The Aussie is getting beat up due to the poor economic numbers out of China. The fact that the Chinese are willing to post underwhelming numbers probably means that China is currently burning to the ground.
Well... that escalated quickly... LOL
  • #14,463
  • Aug 23, 2012 7:33pm Aug 23, 2012 7:33pm
That formation that's hit daily/weekly supply on AUD/JPY - is that compression?
  • #14,464
  • Aug 23, 2012 8:48pm Aug 23, 2012 8:48pm
Quoting clockwork71
The Aussie is getting beat up due to the poor economic numbers out of China. The fact that the Chinese are willing to post underwhelming numbers probably means that China is currently burning to the ground.
Also as I mentioned a week or so ago, there is a lot of pessimistic data coming from the mining sector here. BHP has now publicly reported to the market that it has scrapped a $US30 billion expansion project at Olympic Dam (uranium and copper). In the background they are cutting other projects as well (Iron Ore projects aka 'China projects'). There are lay off's in the resources industry here at the moment too.
I am holding my bearish outlook for AUD in the near to medium term and am not seeing these current moves as dips to buy.
On the bright side at least the 'panic' markets are performing nicely (Gold, CHF)
Lots of opportunities to capitalise on.
  • #14,465
  • Aug 24, 2012 12:13am Aug 24, 2012 12:13am
What I wanna know is who the hell is buying the Yoorow and why.
  • #14,466
  • Aug 24, 2012 12:41am Aug 24, 2012 12:41am
Quoting Venice
Well... that escalated quickly... LOL
Well......that was the short version of the story....
  • #14,467
  • Aug 24, 2012 12:42am Aug 24, 2012 12:42am
Quoting Rk33333
That formation that's hit daily/weekly supply on AUD/JPY - is that compression?
To be honest, I have never heard the term "compression." Anyone wanna help him out?
  • #14,468
  • Aug 24, 2012 12:43am Aug 24, 2012 12:43am
Quoting mypipbull
Also as I mentioned a week or so ago, there is a lot of pessimistic data coming from the mining sector here. BHP has now publicly reported to the market that it has scrapped a $US30 billion expansion project at Olympic Dam (uranium and copper). In the background they are cutting other projects as well (Iron Ore projects aka 'China projects'). There are lay off's in the resources industry here at the moment too.
I am holding my bearish outlook for AUD in the near to medium term and am not seeing these current moves as dips to buy.
On the bright side...
True on the dips.......Silver and gold both looking really good at this point.
  • #14,469
  • Aug 24, 2012 12:44am Aug 24, 2012 12:44am
Quoting stewrigh
What I wanna know is who the hell is buying the Yoorow and why.
It could be short covering. That's my thinking at least....
  • #14,470
  • Aug 24, 2012 1:43am Aug 24, 2012 1:43am
Talking abt Yoorow - interesting level on kiwi

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  • #14,471
  • Edited 3:09am Aug 24, 2012 2:05am | Edited 3:09am
Quoting clockwork71
To be honest, I have never heard the term "compression." Anyone wanna help him out?
Something Redsword11 used to talk about where price would zigzag, spiking through pockets of supply / demand. This allows price to move like a rocket.

http://www.forexfactory.com/showthre...74#post5117974
  • #14,472
  • Aug 24, 2012 3:00am Aug 24, 2012 3:00am
Quoting C-12
I certainly hope so. I own a fair amount of physical.
Hey C12, without getting too personal and getting off track from this thread I am interested to know a bit more about owning physical gold v paper gold.

I know the obvious difference but am just interested to know if you hold gold as coins or bars and do you have the intention of eventually 'cashing in' the physical gold?

I am interested in why people want to store wealth in things like coins, stamps, gems, art etc. Other than it being a tangible asset I just don't get it?

I cannot see us riding around on horseback paying for lodging and beer with gold coins?....although I would make a good "Blondie" (The Good, the Bad and the Ugly).

This is in no way meant to offend anyone who actually owns gold, I am simply interested in benefits of owning physical.

Thanks guys
  • #14,473
  • Aug 24, 2012 3:13am Aug 24, 2012 3:13am
Quoting mypipbull
This is in no way meant to offend anyone who actually owns gold, I am simply interested in benefits of owning physical.

Thanks guys
For me the primary reason for buying was that gold had started a long term bull market with a lot of upside potential.

The reason I chose coins over other forms was that in a very worst case scenario (currency collapse) coins would hold more weight over any other form. Although I am more of a deflationist in the short to medium term you never know how what can happen.

I see gold and silver as an insurance as well as a speculative asset.
  • #14,474
  • Aug 24, 2012 3:14am Aug 24, 2012 3:14am
Quoting mypipbull
Hey C12, without getting too personal and getting off track from this thread I am interested to know a bit more about owning physical gold v paper gold.

I know the obvious difference but am just interested to know if you hold gold as coins or bars and do you have the intention of eventually 'cashing in' the physical gold?

I am interested in why people want to store wealth in things like coins, stamps, gems, art etc. Other than it being a tangible asset I just don't get it?

I cannot see us riding around on horseback paying for lodging and beer...
The reason I buy physical is 2 fold.

1. I just like the stuff and stacking is therapeutic, only coins and junk silver.
2. If silver ever takes off you won't be able to buy it at any price.

I also trade it as well tho.
  • #14,475
  • Aug 24, 2012 3:54am Aug 24, 2012 3:54am
I can see some huge potential in this one, if the SNB get out of the way.

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  • #14,476
  • Aug 24, 2012 7:37am Aug 24, 2012 7:37am
Quoting mypipbull
Hey C12, without getting too personal and getting off track from this thread I am interested to know a bit more about owning physical gold v paper gold.

I know the obvious difference but am just interested to know if you hold gold as coins or bars and do you have the intention of eventually 'cashing in' the physical gold?

I am interested in why people want to store wealth in things like coins, stamps, gems, art etc. Other than it being a tangible asset I just don't get it?

I cannot see us riding around on horseback paying for lodging and beer...
Another way to look at it is if you have a stash of money where you gonna invest it - banks, stocks, treasuries???

At least with PM's you won't lose any capital and it will retain purchasing power.
  • #14,477
  • Aug 24, 2012 8:19am Aug 24, 2012 8:19am
Quoting Rk33333
That formation that's hit daily/weekly supply on AUD/JPY - is that compression?
I do not see a compression formation.

Normally, you expect to see an obvious slowdown in price (that is... it's fighting to move up). At the same time, you see spikes or tails on the candle bodies going downward clearing out the demand for the compression to finally kick in and fall hard.
  • #14,478
  • Aug 24, 2012 8:20am Aug 24, 2012 8:20am
Quoting stewrigh
What I wanna know is who the hell is buying the Yoorow and why.
Weekly is just completing a retrace to find more supply. We haven't even made an attempt at a HH yet. LOL.
  • #14,479
  • Aug 24, 2012 6:56pm Aug 24, 2012 6:56pm
Quoting stewrigh
The reason I buy physical is 2 fold.

1. I just like the stuff and stacking is therapeutic, only coins and junk silver.
2. If silver ever takes off you won't be able to buy it at any price.

I also trade it as well tho.
1. Scrooge McDuck
2. Why do you say that about silver?
  • #14,480
  • Aug 24, 2012 7:11pm Aug 24, 2012 7:11pm
Quoting C-12
For me the primary reason for buying was that gold had started a long term bull market with a lot of upside potential.

The reason I chose coins over other forms was that in a very worst case scenario (currency collapse) coins would hold more weight over any other form. Although I am more of a deflationist in the short to medium term you never know how what can happen.

I see gold and silver as an insurance as well as a speculative asset.
Thanks, fair point about the bull run....food for thought, thanks again
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