Member Info for ElProfessor

Hi Rulocal,
Definitely looking like 'when' not 'if. The same could be said of CEY and 200.
Best wishes,
Prof

Gold currently through 1780. It is quarter end tonight. Read an interesting article a few days ago (can't remember whether but think it was either Kitco or KWN) that said if we close above 1772 then it breaks the highest quarterly close record. The article then looked at the previous few times gold had broken the quarterly close record and showed how each time POG had then taken off. Could we be about to see this?

Way more!

Goldgnome,
Thanks for the links and two very informative posts. It has only really occurred to me in the past few months that I have been looking at the price of gold through the wrong end of the telescope. Increasingly I am thinking of gold as constantly priced with the price of currencies increasing or decreasing relative to it. Your data on how much the euro has fallen in value since creation is therefore fascinating to me.
I know that thinking of the value of gold as a constant is partially flawed but I find it helps my thinking. In the context of massive QE it also shifts my thinking to the idea that stock prices are not really going up, it is the value of the currencies buying them that is falling; because it now takes more of a currency to buy the same stock the indices go up. Again riddled with flaws but I find it helps me think about where to invest.
Best wishes,
Prof

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the highest weekly finish for gold in dollars for 7+ years. Can anyone confirm or contradict that please.
Best wishes,
Prof

Mr Bond,
I agree 100% with all of that!
Prof

Evening Mr Bond,
Wouldn't have thought the stock market calls were anywhere near severe enough today to trigger extensive selling of gold and Cey to cover margin calls. My guess is that gold went down on nothing specific, just random statistical noise, and we got pulled down in line with that multiplied by the usual leveraging of c2.5 times.
Best wishes,
Prof

Hi Market,
Good to hear from you. Let us hope that we are indeed in new territory. There are certainly a lot of great signs.
Best wishes,
Prof

Biggles,
My pleasure.
Prof

Hi Biggles,
Difficult to know. There is a saying that 'in a crash you sell what you can rather than what you want'. In other words where investors have bought on margin and are massively exposed in a crash they will need to quickly raise cash to fund the margin calls. In that instance selling gold may well occur not because people feel gold is overvalued but because they can get a reasonable price for it and need to raise money.
Were we to see another crash I suspect we could see CEY dip in the short term but my expectation is that the dip would be short lived.
Unfortunately the above is just by guess. No one knows for sure.
Best wishes,
Prof

Hi ISA,
A profit is a profit and certainly better than a loss.
Good luck on your original investment.
Best wishes,
Prof

As per my note earlier, but updated for the end of the day, CEY SP has behaved very strange today. Between 10am and close at 4.30 it was pretty much stuck between 161.5 and 163 with most of it between 161.5 and 162.5. This despite gold moving up (and then down) a fair bit. Not sure what to make of it. Any thoughts anyone?
Yours, slightly confused ,
Prof.

Thanks Crocked but despite gold moving up sharply I am not making anything on this purchase at the moment.

Best wishes,
Prof

Mr Bond,

Thanks. I am surprised by the stability of the SP today and the unresponsiveness to an upward trend in gold.

Hoping for a late surge.
Prof

Hi Mr Bond,

This lot are in a SIPP so will be OK on tax. Will probably not hold too long but as I said yesterday not because of any lack of confidence in the company just a case of being over-concentrated. I am trying my hand at shorter term trading.

Best wises,
Prof

Unusually tight range of between 161.5 and 162.5 for most the day so far.

'US wakes up' not UK!

30k (20k then 10k) at average of 162.1 as gold looks to be on the move as the UK wakes up.
Will it be an afternoon where I metaphorically pat myself on the back for my insight or slap myself for my stupidity?

Hi Sotolo,
Thanks. I sold a further 20k just before the bell yesterday at 168 so only kept 30k of my disastrously timed 120k purchase (well 80k disastrously timed, the 40k at 147 was obviously good). Was trying to get back in for 30k at the 161/160 being shown if not quoted which would make my maths easy for working out I broke even. Gold holding nicely above 1730 this morning. If that holds I would expect CEY to recover a bit today although a pull back after yesterday's 7% rise is to be expected with gold not continuing up. Key will be whether the US open takes gold up like yesterday or down as it tended to do last week.
Am definitely feeling better for having taken 90k shares off there table yesterday. As I posted I was too concentrated even for my liking.
Keep smiling,
Prof

CEY significantly down but market not quoting to buy in any meaningful numbers at current price. Can not get a quote for above c2500. No problem at all if you put in for a quote to sell 10,000.