[NYCGP]

I have owned shares of HP for the last year. I can't help but laugh as I watch the stock tumble. They halt it. Release their earnings early and it drops another 3%. It's only money.

[BayMoWe335]

Originally Posted by NYCGP

I have owned shares of HP for the last year. I can't help but laugh as I watch the stock tumble. They halt it. Release their earnings early and it drops another 3%. It's only money.

Feel better my friend, I own it too...Although I only own it since about $38/share (last few months). Still has taken a beating.

[AngelinIsRich08]

GOOG is $504! It was $622 on July 27. Bac fell down to $7.01.

[AngelinIsRich08]

I'm thinking of doing a sell to open September or October put for GOOG at $555. It's automatic money. 1 contract gives you over $5000.

[Inspired]

Originally Posted by AngelinIsRich08

GOOG is $504! It was $622 on July 27. Bac fell down to $7.01.

Luckily I held off on GOOG @ $540

[ES_TRADER]

^^ Goog still not cheap @ 504.....350 is a buy

[johnnymu]

Looks like another great day to short

[NYCGP]

Originally Posted by johnnymu

Looks like another great day to short

Or invest in GLD.

[johnnymu]

Originally Posted by NYCGP

Or invest in GLD.

Buy low, sell high. Finish buying commodities in 07. Just enjoying the ride.

[AngelinIsRich08]

GLD's gonna drop like a bomb September.

[NYCGP]

Ran out of toilet paper this morning.. But no worries.. I have about a 100 shares of HPQ. That should last me through the end of the month.

[johnnymu]

Originally Posted by AngelinIsRich08

GLD's gonna drop like a bomb September.

How do you figure? Actually, if you look at history August has always been a slow month and Sept. has been an uptrend. Of course due to all the events happening this year its changed. Reason why sept. has been uptrend is because Asian and Indians starts buying gold up getting ready for Holidays and wedding. So I'm interested what are you basing your prediction on?

[AngelinIsRich08]

Because the investors are looking for a safe haven during this bearish and downtrend market. Once the market picks up gold will be sold in droves so investors causing it to fall. Now it may not go below $1500 but it definitely won't be reaching many more new highs unless the economy completely tanks. SLV has been going up nicely this week too but there might be sell-offs when it reaches $42/3.

[mact3333]

Hope longs acted on my warning the other night that the mkts looked like it was prime for selloff which we have now seen...downside target was 1100ish SPX...ES hit 1117 which is close enough to start accumulating longs slowly...cycle work says we bottom for int term either today or by ed of next week...no eed to act all at once but should accumulate slowly...also, the only true bull mkt right now is gold and silver...never ever lose your core position in the metals whether its pper metal or real metal.

Dont fall for the rah rah GOOG is cheap at 430, 550, 300 crap...stocks trade according to the mkts...you need to know the trend the actual mkts will trade...mkts dont trade on news over int and long term(but will respond on very short term basis)...mkts will do what they were meant to do and news other than QE2,3 etc will have minimal bearing.

Best strategy ihmo is to keep your base metal positions, the slowly accumulate long positions over the next week...but dont forget the rally we will see is a bear mkt rally and I dont think we will go much higher than 1230-1250ish level.

Lastly, I have called many short term and intermediate term bottoms and tops on here but I have very minimal participation on here...I truly am just talking to myself it would appear...unless I get some passive or active participation in this thread, I will stop posting and this thread will be allowed to die.

[johnnymu]

Originally Posted by AngelinIsRich08

Because the investors are looking for a safe haven during this bearish and downtrend market. Once the market picks up gold will be sold in droves so investors causing it to fall. Now it may not go below $1500 but it definitely won't be reaching many more new highs unless the economy completely tanks. SLV has been going up nicely this week too but there might be sell-offs when it reaches $42/3.

Do you really believe in what you're saying? Didn't you admit you're down in portfolio right now and making such a bold prediction?

kitco.com/gold.londonfix.html
Look at history and search sept. Beginning to end, see if its not an uptrend each year. I told you why already, ask yourself why the Koreans just started buying? Why chavez asking for his gold back? We all know what our president and fed is doing, so you really think gold will bomb all of a sudden? Ok goodluck to you cause I know what ilk doing, holding.

[AngelinIsRich08]

It'd be in an uptrend but what I'm selling is that it'll fall September enough to where it was a couple months ago. Gold has had quite a surge and looking through a day-traders perspective large surges are usually accompanied by dips because of sell-offs. Now with the economy being the way it is and countries buying it in heaps this dip might not be as severe but there will still be a dip.

[johnnymu]

Ok I predict 1900's by end of sept. Two month ago it was 1500's, ok ill hold you to it comeback to this prefiction end of next month. Hope you sell soon and buy next month, goodluck!

[NYCGP]

I have been listening to Gold Bubble talks since before it crossed $1000.00

[johnnymu]

I remember when gold was below $300 and people said it was too high. I wasn't convince until it reach $700 that I started investing, I still hear it everyday its too high. Oh well, Obama and fed has shown their incompetent so I'm going to enjoy this for another year at least.

[AngelinIsRich08]

I don't own gold but I have SLV (silver) ETF's. If gold hits $1900 that's a 6% increase from today's prices. SLV would move up 15% in that same time period. It's more volatile than gold but the returns are much better.

[johnnymu]

1900 is only 1.8% of today's high.
While back in April-May silver had went from $49+ to mid $30's was more than a 30% decline but gold only went from 1531-1490 so you really think silver effects gold?

[AngelinIsRich08]

Originally Posted by johnnymu

1900 is only 1.8% of today's high.
While back in April-May silver had went from $49 to mid $30's was more than a 30% decline but gold only went from 1531-1490 so you really think silver effects gold?

Wow, it's gone up. I was thinking it was still $1800. No they don't affect each other directly but both are considered precious metals so they follow the same trends.