RM's occasional market calls...

[Rearden Metal]

Adding more GLD puts right here.... GLD= $141.59, limits in in case it goes even higher...

 

[startraitor]

Rm and surf are two of the most openly flawed but sanest people on et. Refreshing. GL to both.

 

[Daal]

Quote from Rearden Metal:

Adding more GLD puts right here.... GLD= $141.59, limits in in case it goes even higher...

How would you gauge whether gold has bottomed? that panic had a lot of volume and a media frenzy, it seems that a lot of funds puked during that sell-off

 

[Josef K]

I've decided to get in on this, but with the Jun 138 puts.

 

[trickshot]

Seems like a huge mistake to me, the short sellers sold gold that they can never deliver in June, it was a highly speculative short that was unwound quickly, there is really no fundamental reason for gold to tank.

I'd be very surprised if gold made a new 52 wk low in the weeks ahead.

 

[Took2Summit]

Quote from trickshot:

Seems like a huge mistake to me, the short sellers sold gold that they can never deliver in June, it was a highly speculative short that was unwound quickly, there is really no fundamental reason for gold to tank.

I'd be very surprised if gold made a new 52 wk low in the weeks ahead.

gold doesnt have fundamentals lol.

 

[startraitor]

Quote from Took2Summit:

gold doesnt have fundamentals lol.

The best remedy for high prices is higher prices. I would wait till $1480-$1500 to position.

 

[trickshot]

Quote from Took2Summit:

gold doesnt have fundamentals lol.

Yes they do. Central banks hold them as reserves.

 

[Rearden Metal]

Quote from startraitor:

The best remedy for high prices is higher prices. I would wait till $1480-$1500 to position.

That's where I REALLY put on the size!

 

[Rearden Metal]

BSD never PMed me! Silver lining is now I won't feel as bad if our positions go to hell.