Posted on 08/15/2008 2:31:23 AM PDT by dennisw
What a turn around. I saw predictions of this three months ago. Commodities down, bubble bursting
Oil going to $80 let's hope
(Excerpt) Read more at finance.yahoo.com ...
Hmmm. Maybe it’s time to start thinking about a Canadian vacation again.
Great news. USD = 0.53+ GBP!
Which you might think would be bad news for a British person, but not one who’s heavily dollar-invested. /unseemly gloat
High Activity Market Alert
The precious metals industry is experiencing a substantial surge in activity which may increase the possibility of logistical delays; including customer service response time, product processing (incoming and outgoing), and product transport/fulfillment.
Whats going on ?
My theory, for what it’s worth, is that Soros(democrats, pelosi, reid) were manipulating markets hoping that high gas prices would be blamed on the GOP and Bush, but that blew up in their faces, with more drilling becoming popular with the electorate. Now they are trying to take the pressure off Pelosi and Obama, but I think the drilling genie is out of the bottle with the avg. voter(they do not want $4 a gallon gas or to be dependent on the arbs and chavez).
All the ratil customers are trying to sell their penny-ante gold.
retail
So there is a lot of people selling Gold and Silver now because they expect the bubble is bursting ? So we are entering the Fear part of the curve ?
But also with the Russian invasion of Georgia the US Dollar looks good compared to Europe
So dollar rises against Euro and US Dollar rises against gold
USA looks like a safe haven compared to a Europe with no military
Compared to a Europe that has its energy supplies controlled by Russia
Any predictions on the gold and silver bottoms?
They don’t want to sell you the physical metal for those prices.
You’re an honorary Yankee Doodle Dandy!
must oil stop at $80? I’m hoping for $20.
I kinda figured that was part of it. So the high volume alert is just announcing that they paid too much for what they currently have in inventory to sell.
Well as prices have tanked recently, all the online vendors have removed their inventory, although from what I understand there is somewhat of an actual shortage. The mint has suspended sales of its Eagle program, unable to procure the blanks that the coins are minted. There is somewhat of a disconnect between the futures markets and the physical market, which by definition isn’t supposed to happen.
Looks to me that some serious profit taking is going on, probably to shore up some hedge funds or whatever. Commodities were a bright spot for investors until recently.
Thanks for the info. Will wait it out since I was thinking of buying, but was waiting for a good dip. For awhile there it did not look like it was ever coming. Guess I would have been caught in the Bull Trap anyway.
$20...? Be very careful what you wish for. Our major Petroleum Companys will be facing major loses as the crude price contraction continues. High cost of product vs lower sale price expectation.
Macro problem: Russo-Persian Oil Blockage is setting up. Russia is seizing the Georgian pipeline for total control of European supply. Iran is ready to close the straits of Hormuz and the Persian Gulf. This is a potential double whammy that will cause global chaos.
Certainly worth thinking about, if you can find any. eBay prices are still much higher than spot? People always say that eBay isn’t a “real” market for many things, but regardless I have noticed that prices tend to be “sticky” there.
I read on one of the threads yesterday that there was about $50 Billion moved from Russian markets to our markets on about Aug 5th or so.
That triggered computer selling of commodities because the dollar went up. Explaining why oil went down on the invasion of Georgia, and not up.
I don’t know what thread it was, I read too many yesterday :)
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