Marketsurfer's bold gold proclamation

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Quote from thriftybob:

No, I think it should be left here till next April.... Let him be right or wrong. He picked the number and the date.

from a GATA post....

FreeMarket Gold & Money Report's James Turk noted: "Crude oil closed Friday at 4.429 grams of gold per barrel. Since the end of the Second World War, crude oil has been this expensive on only 33 days, or about 0.002% of the time. So clearly we are in the extreme tail-end of the bell-shaped curve, meaning that gold is extraordinarily cheap compared to crude.

"But here's the interesting point. All of these 33 previous days when crude oil cost more than 4.429 grams per barrel occurred in 2005. What's more, they occurred in a short period from the end of July to mid-September, which was another period of extreme price manipulation by the gold cartel. ..."

Turk is emphatically in the camp of those who feel that the present credit crisis has brought on more official attempts to manipulate gold.

Oil was 4.37 grams of gold per barrel on Friday. Quite possibly this extreme has caught the eye of important trading pools.
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Apologies, but whenever someone quotes GATA and the "gold cartel", the rest of the text is just drowned out by my laughing.
 
Quote from marketsurfer:

hi,

yes, in the long term--10 plus years--- should have clarified. fundmentally is the operative word.

Fundamentally, silver looks like a good long term investment, in the short term, it's a tough call.

"In my opinion, silver is definitely worth watching over the next several months for opportunities that may develop both on the long and short side. An interesting trading tactic would be to chart the gold and silver minis as a pair, watch for divergence then enter a trade in the hope that they will come back to the mean price within the time frame you set for the trade."


surf
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10 years? alright whatever...

short gold 50 oz @ 918
 
If you look at the technicals for oil, it broke a double top. I understand that once this happens, expect a move to twice the previous range. We are not yet there with oil...none the less, I'm short oil. Maybe a stupid move, but there you are. A parabolic move often goes on further than anyone expects, then I've observed that when it breaks, a downtrend seems to follow.

just my 2 cents
 
Quote from Ivanovich:

Apologies, but whenever someone quotes GATA and the "gold cartel", the rest of the text is just drowned out by my laughing.
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Not as hard as I laugh everytime marketsurfer posts his "$600 by april 09" call.
 
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