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Unless Bushy, your real name is Bruce Ikemizu, in which case I stand by statement of you being a classic hindsight analyst
No idea what you’re on about Bushy- have you been on the sauce?
Markets are useful, if anything because a high share price, make cheaper for share holders to rise more cash.
On commodities indeed is a bit different because commodities are the lively hood of many people across the world.
Now I suppose someone will come up with the question on, what define a commodity.
Sorry Steve, if you're still asking that then there's a knowledge gap that I just can't be bothered to fill.
That said... I sold but that doesn't mean I'll be right though, we'll just have to see how it plays out.
Remember gold is a currency, ergo watch the dollar for additional confluence.
Funny how they didn't say earlier today "there will be a necessary drop..." more "hindsight", after the event analyst comments lol (and to think they paid for this nonsense :-).
Hi Dun,
I agree China never said it wanted to dominate, it did however want to be treated on equal terms as the USA and UK.
Andrew Maguire follows the avalanche of sanctioned de-dollarisation moves triggered by the pivotal meeting between Xi Jinping and Putin, accelerating the implementation of a gold-based currency.
https://kinesis.money/live-from-the-vault/gold-army-emerges-from-the-trojan-horse-comex-caught-sleeping/
'Necessary' Drop in Gold Price to $2000 'a Correction, Not Reversal'
Monday, 4/17/2023 14:42
GOLD PRICES rallied but fell back again Monday in London, slipping below $2000 per ounce amid what analysts called a 'necessary' correction after speculators in Comex derivatives took profit and the giant GLD gold ETF shrank in size for the first week in 5, says Atsuko Whitehouse at BullionVault.
https://www.bullionvault.com/gold-news/gold-price-041720231
Mr Bond's comment was spot on, the market is all about creating trades for the sake of it because that's how they make their money!
Just have a read the comments of the "Spaf" peddlers in the statement on the above link!
Why don't they just be honest and say that the market or commodities, or whatever is up or down because we need to shuffle the indices just to keep ourselves in the business of conning the rest of the world that we are doing something useful for our over bloated and unjustifiable pay packets!
Thanks Bushy- I'm just questioning why no chartist posted at about 10:00 on Friday when the SP was ~114.5, but waited until this morning, that's all.
I posted my rationale for my exit at the time on Friday when the SP was ~112.5 on Friday @13:53.
As I say- I like to see rationale at THE point in time...
Hi goldgnome
There is no history of China wanting world dominance. It's trading prowess pre-dates the Romans, extending throughout Asia and west to Europe. If you read Menzies book 1421, you will see it appears they went round Africa and possibly further, with a view to trade world-wide. Probably as you say, to acquire the food and materials required by a large and growing population. But China was a proud, orderly and inventive nation. Until the Europeans arrived in the 19th century, with all their weaponry and forced concessions which started as trading ports but then expanded to transferring their factories, religious and political practices. Christian converts often won property disputes over local peasants as local officials were either bribed or persuaded not to upset foreign powers. This led to the breakdown of Chinese society and the Boxer rebellion as depicted in the film 55 days at Peking. The weak Chinese Government disowned the Boxers but secretly backed them. The Chinese were shamed by the Western Governments, which included the US, and have probably been years planning to how regain the prominence in the world they once had. The US as you say, handed this to them on a plate when Nixon agreed that the two countries should be allowed to trade. The Americans probably viewed the Chinese as backward, and saw only the agreement as one-way trade. But the Chinese knew that greed had surpassed 19th century Christian values and played the West. They were years behind technically, but made the transfer of IP a pre-requisite to manufacturing locally. They built their exports quickly by devaluing their currency, but got away with it by buying US debt. They still send their people to universities in the West, many more now as post-grads, to determine what we are working on for the future. All will be transmitted back to China, but our Government is happy as it depends on China for much university funding. They convinced the west that they would move to the same kind of democratic system, but all the above development, had been centrally planned. Now China has caught up, it has proved that central planning, or autocracy, is the correct system. South America, most of Africa and even part of South-east Asia consist of former colonies, and as such sent raw materials back to the colonial powers. China will not colonise these countries, but will want to ensure that they get priority for these materials. They will give a fair price and will adapt to local requirements to do so. To achieve that, they will have to be as strong or stronger than the West militarily, have to offer a different currency from a different economic system, not inflict their own laws, but rather accept those that exist, and certainly not propound democracy.
Personally I believe that they need, and have planned for a gold-backed currency.
Steve...Fridays was a bearish all engulfing full body. Text book sell signal for a reversal after a directional run. Watch where we close today if it's lower than Fridays close then that usually serves as confirmation.
No worries Lucky- posts aren't as good as face-to-face chat :-)- I am not trying to be difficult, simply like to understand where people come from, this is how I learn.
Steve
my apologies I should have added the RSI of POG day chart made a sell signal.
My view remains to wait- gold dropped Friday due to the reasons I posted before I exited Friday. Additionally, due to FED Guv, Waller, stating more tightening required, more than markets think... 25bps remains on for 3rd May. Some think may not be enough, but I'm more dovish, than this and think inflation will continue to drop faster than FED think... time will tell, and with more FED chat this week from people, will wait and see... FED remain hawkish at mo, which makes me remain on the sidelines until others leak info, amongst other data out this week.
Of course, I'm not pretending to impose my will on anyone either- take or leave it, but I just provide info, and back it with why I think this. People can ignore it, or read it, but at least they know why I say what I say- that's all :-).
Precisely my point- you both have not said why- so how can anyone rationalise it or take anything from it- I said Man City won't win the title, John down the road said the same- and this is of no use to anyone.
If John down the road and I both added "this is because I have just come from the training ground and Haaland, Grealish, Mahrez, Debryne all have a mystery illness and will be in quarantine for the next 6months"... then this info would provide a rationale as to why John and I think this :-)
BushyTailed said the same.
I can not explain things that my self can't fully understand....
No worries, but why not just state your technical analysis and view- it's you that says "sell signal"... I would like to know why YOU interpret this way that's all.
Steve
I am not pretending to impose my will on anyone, and I understand you rationale regarding following tech or not.
Many information on technical analyses can be found for free online....
Dropped due to unexpected ,New York FED Empire State figures Hit eight month high .
To be expected, after all they do need to keep the dollar high and bond market busy. ;-)
Next months figures will be again ,to suit themselves.
Whatever it takes.
Although I do, I still like to understand the rationale behind it- for example "sell signal" didn't state due to technical analysis- it just said "sell signal".
If your technical analysis says "sell signal" I would like to understand on what basis- else anyone reading it just has to take your view without understanding the basis for your view.
I understand some may disregard technical analyses outright, but POG future day chart is making a sell signal.
astro999
it seem you was right.
But more importantly what made you think that?
Based on what?
I prefer to to see people's rationale- not just sell signal, 96.5p etc :-), also why would you buy @96.5 if the SP dropped to it?
EG gold will retrace to "n" due to "y" by "h", the UK indices will drop to "X" due to "z" by "h", CEY will drop to "F" due to "g" by "h" etc etc... At the moment, no data released has made me alter by position since I posted early Friday pm.
GLA
Let's see if I get another chance at 96.5p Steve ;-P
Where were the sell signals at 10:00 on Friday when the SP was ~1.149?
There are no sell signals, just economic data (in the absence of company specific data) that drives gold and the SP.