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Old 03-24-2020, 04:51 PM
  #7601  
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Originally Posted by schoolsout1 View Post
If this is true, then hang the fvck on

ive talked about this happening for some time. Ow. The guy saying this has a ton of connections...not the “seedy” type, either. He’s a big player in the retail side if things
Good!
For the most part I am terrible with trading I am always a day late and a dollar short.
So since I can’t grasp most of this stuff sometimes I follow others.
I bought some Goro today when you mentioned it.
Was planning to buy more tomorrow with hopes it would drop a little more.
I have to get away from options that where I’m getting my a$$ kicked.

Last edited by cummins28; 03-24-2020 at 04:57 PM.
Old 03-24-2020, 04:57 PM
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Originally Posted by cummins28 View Post
Good. For the most part I am terrible with trading I am always a day late and a dollar short.
So since I can’t grasp most of this stuff sometimes I follow others.
I bought some Goro today when you mentioned it.
Was planning to buy more tomorrow with hopes it would drop a little more.
I have to get away from options that where I’m getting my a$$ kicked.
been getting my ass kicked with the miners and most everything else so buckle up! Lol

who knows if this is true, but this guy doesn’t go batshit like this that I’ve ever seen. Supposed to send an update on something tonight. I’ll share if I get it.
Old 03-24-2020, 05:00 PM
  #7603  
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The gold "shortage" is pretty well explained here, but I'm certain many will blame it on more nefarious reasons.

https://www.reuters.com/article/us-g...-idUSKBN21B2PT

https://www.bloomberg.com/news/artic...ur-decade-high
Old 03-24-2020, 05:01 PM
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Originally Posted by schoolsout1 View Post
been getting my ass kicked with the miners and most everything else so buckle up! Lol

who knows if this is true, but this guy doesn’t go batshit like this that I’ve ever seen. Supposed to send an update on something tonight. I’ll share if I get it.
Thanks.
I still feel like Goro is pretty cheap Right now and if goes lower I’ll add more. I need something more long term anyway.
Old 03-24-2020, 05:02 PM
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Originally Posted by cummins28 View Post
Thanks.
I still feel like Goro is pretty cheap Right now and if goes lower I’ll add more. I need something more long term anyway.
they may end up paying a sweet divvy at these prices. They have in the past.

Update just sent, but nothing major

(unedited draft -- have to finish up tomorrow)

Today is another historic day for gold and silver. We will be looking to at this moment in time as being historic. There is a perfect storm for the gold price, as I mentioned yesterday in my calls for gold $1,700 by Friday this week or next. Well I was wrong, it took less than 24 hours for gold futures to spike to that level before COMEX even opened. But as this spike occurred, the spot gold price started to seriously diverge with various providers quoting massively different spot gold prices. This is nothing I have witnessed before in my 25 years observing the market.

What does this mean?

Covid19 is a black swan event for the financial, debt markets. For many things actually (America's horrible obesity epidemic to the failure within the EU to work together through this crisis). There are MANY issues that are coming to the surface and this includes the vulnerability of exchanges from being to operate properly to price.

The supply chains have been severely impacted from the global quarantine. Normal trade and travel has interrupted the flow of metals and now you have a total breakdown in the global supply chains and with metals, the miners are being forced to close with the major Swiss refiners now too.

The sudden dash for physical, the GOLD RUSH into physical has or is emptying the gold vaults out very quickly now. Bullion dealers are being stripped and unable replenish except in the case of local markets perhaps where there is some exchange. This means local prices as well as scarcity switches the pricing sensitivity to an extreme level.

So what to be looking at now, will there be a failure in the futures markets? Is COMEX going to be called out for its fractional gold reserves? Will those existing gold inventories be suddenly sought after and raided? There certainly is only a fraction of the gold representing the outstanding contracts. The eligible gold or silver for delivery could quickly become a target and what good is a market that cannot deliver? What is the price of no inventory? Does it fail to function properly. How long will it take for things to “normalize” and flow more easily? Will there even be a trusted COMEX market left when the markets normalize.

Then the next question to also consider is if central banks reserves become constrained and CAPITAL CONTROLS start to be put up into place to stop the drain on foreign reserves... Where do you hide with a domestic currency that is quickly losing value versus the dollar? GOLD! THAT IS IF YOU CAN SOURCE IT!

Tomorrow I can write about gold miners, being the next best proxy for the gold price, when there is no physical left to get!
Old 03-24-2020, 05:03 PM
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Dont get cute. Start your studs.
Old 03-25-2020, 06:23 AM
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CME steps in and opens up shop...not very earth shattering, but seems odd in light of recent happenings.


https://www.cmegroup.com/media-room/...exibledel.html
Old 03-25-2020, 06:40 AM
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Going to have to switch to calls next down day. Can't compete with JPow anymore.
Old 03-25-2020, 07:13 AM
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Originally Posted by schoolsout1 View Post
CME steps in and opens up shop...not very earth shattering, but seems odd in light of recent happenings.


https://www.cmegroup.com/media-room/...exibledel.html
What’s”odd” about it? Isn’t there an issue with 400 ounces bars needing to be converted to 100 ounce bars?

Sounds like managers managing...
Old 03-25-2020, 07:23 AM
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Originally Posted by acteg View Post
Going to have to switch to calls next down day. Can't compete with JPow anymore.
Today might be it. Are you going in?
Old 03-25-2020, 07:23 AM
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COMEX couldn't handle that?
Old 03-25-2020, 07:43 AM
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Anyone notice the +40% rise in RDS & BP in less than a week?
Old 03-25-2020, 07:45 AM
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well my RCL position went from -42% to +1% in short order

bout get on that JNUG scalp

watching GORO, GOLD, KGC, & AUY
Old 03-25-2020, 07:58 AM
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Originally Posted by crazybeard View Post
Today might be it. Are you going in?
Bought some INDA puts at open but otherwise it looks like we're trading sideways today. I am expecting a down day tomorrow depending on the unemployment numbers, so I am expecting to get out of most of my puts tomorrow, and pick up some calls. I'll likely focus calls on bailout stocks or maybe just go SPY and ride the fake pumps.

I'll keep my REIT puts and INDA puts as a hedge and keep picking up long-term stocks.

​​​​
Old 03-25-2020, 08:28 AM
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& just like that +7% on JNUG in half an hour
Old 03-25-2020, 08:32 AM
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Anyone with an opinion on APO?
Old 03-25-2020, 08:42 AM
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Originally Posted by emudryj View Post
Anyone with an opinion on APO?
I own it along with BX and KKR.
Old 03-25-2020, 08:47 AM
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I also bought some Sept and January calls on EWG and EWI. Going to let those marinate for a bit .
Old 03-25-2020, 09:26 AM
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My port full of puts getting absolutely smoked.

Loosing faith in the possibility of having another big down day in the market.
Old 03-25-2020, 09:34 AM
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Originally Posted by aubv View Post
Anyone notice the +40% rise in RDS & BP in less than a week?
Yes, I sold out of BP on 3-12 at 21.60. Worried about dividend coverage.

Then I started my move to my old friend PSX on 3-17 buying on 3-17 at 46.5, then 42.19, then 42.

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