Same. I manually updated my spreadsheet today as a forcing function to keep myself humble next time things are going gangbustersCortopassi wrote: ↑Tue Aug 11, 2020 3:49 pmI don't think my PP has seen such a large one day swing %-wise ever?
The GOLD scream room
Moderator: Global Moderator
Re: The GOLD scream room
-
- Executive Member
- Posts: 5994
- Joined: Wed Dec 31, 1969 6:00 pm
Re: The GOLD scream room
If portfolio volatility is a serious issue, I should be the one freaking out, but I'm not.mathjak107 wrote: ↑Tue Aug 11, 2020 5:00 pmI had cut my holdings in half about a week or two ago .......
I had a very uncomfortable feeling about all assets in the pp ......it was like investors were punch drunk .
I started to add some back today ...I couldn’t resist .....today was a killer drop on even the half that was left exceeding 35k ..to think if I didn’t cut back it would have been 70k is insane ..
I'm still way ahead for the year, which is good enough for me.
- Cortopassi
- Executive Member
- Posts: 3338
- Joined: Mon Feb 24, 2014 2:28 pm
- Location: https://www.jwst.nasa.gov/content/webbL ... sWebb.html
Re: The GOLD scream room
I have to slap myself but I actually took a look at GLD and SLV call options today. I have not looked at options for years.
Looks like the beating is continuing tonight. If it continues through morning, I may have to risk a few hundred on a couple 1-2 month out calls. I know I shouldn't, but I need to convince myself I still suck at timing options.
Looks like the beating is continuing tonight. If it continues through morning, I may have to risk a few hundred on a couple 1-2 month out calls. I know I shouldn't, but I need to convince myself I still suck at timing options.
- mathjak107
- Executive Member
- Posts: 4456
- Joined: Fri Jun 19, 2015 2:54 am
- Location: bayside queens ny
- Contact:
Re: The GOLD scream room
Libertarian666 wrote: ↑Tue Aug 11, 2020 7:28 pmIf portfolio volatility is a serious issue, I should be the one freaking out, but I'm not.mathjak107 wrote: ↑Tue Aug 11, 2020 5:00 pmI had cut my holdings in half about a week or two ago .......
I had a very uncomfortable feeling about all assets in the pp ......it was like investors were punch drunk .
I started to add some back today ...I couldn’t resist .....today was a killer drop on even the half that was left exceeding 35k ..to think if I didn’t cut back it would have been 70k is insane ..
I'm still way ahead for the year, which is good enough for me.
the reality is today volatility is greater on all investments ... things move fast and furious both up and down ....
especial;ly in the pp when assets can move together and act like very very high equity positions .
for a daily drop the fall yesterday in the pp is my 2nd biggest in dollars to date .
but because i had cut the position in half and it still fell so much it may actually now be on a dollars down vs dollars invested basis the worst drop i have had in one day . i think 52k was my worst day with the insight models
- buddtholomew
- Executive Member
- Posts: 2464
- Joined: Fri May 21, 2010 4:16 pm
Re: The GOLD scream room
Kitco site is down so don’t freak out.
Gold is up 1+% at the moment and Silver +2.4%
Gold is up 1+% at the moment and Silver +2.4%
- Ad Orientem
- Executive Member
- Posts: 3483
- Joined: Sun Aug 14, 2011 2:47 pm
- Location: Florida USA
- Contact:
Re: The GOLD scream room
MangoMan wrote: ↑Wed Aug 12, 2020 2:41 pmOkay, so I have an interesting dilemma: Dentists accumulate scrap metal during the course of business and I have held it waiting for higher metal prices. Now that gold and silver are way up, I sent in a bunch for processing. They have given me the choice of tomorrow's spot prices (8/13), or the spot pricing on the day the assaying is complete (approx 7-10 days from now). Any advice which I should choose?
I want my fillings back!
- dualstow
- Executive Member
- Posts: 14235
- Joined: Wed Oct 27, 2010 10:18 am
- Location: synagogue of Satan
- Contact:
Re: The GOLD scream room
RIP Daniel Kahneman | Happy Good Friday
- Ad Orientem
- Executive Member
- Posts: 3483
- Joined: Sun Aug 14, 2011 2:47 pm
- Location: Florida USA
- Contact:
Re: The GOLD scream room
MangoMan wrote: ↑Wed Aug 12, 2020 3:30 pmNo problem. But do you want them back tomorrow or 7-10 days from now?Ad Orientem wrote: ↑Wed Aug 12, 2020 3:03 pmMangoMan wrote: ↑Wed Aug 12, 2020 2:41 pmOkay, so I have an interesting dilemma: Dentists accumulate scrap metal during the course of business and I have held it waiting for higher metal prices. Now that gold and silver are way up, I sent in a bunch for processing. They have given me the choice of tomorrow's spot prices (8/13), or the spot pricing on the day the assaying is complete (approx 7-10 days from now). Any advice which I should choose?
I want my fillings back!
- Ad Orientem
- Executive Member
- Posts: 3483
- Joined: Sun Aug 14, 2011 2:47 pm
- Location: Florida USA
- Contact:
Re: The GOLD scream room
Looks like the hemorrhaging has slowed and gold may be getting support around $1900 and silver around $25.
- Cortopassi
- Executive Member
- Posts: 3338
- Joined: Mon Feb 24, 2014 2:28 pm
- Location: https://www.jwst.nasa.gov/content/webbL ... sWebb.html
Re: The GOLD scream room
Bird in the hand...tomorrow.MangoMan wrote: ↑Wed Aug 12, 2020 2:41 pmOkay, so I have an interesting dilemma: Dentists accumulate scrap metal during the course of business and I have held it waiting for higher metal prices. Now that gold and silver are way up, I sent in a bunch for processing. They have given me the choice of tomorrow's spot prices (8/13), or the spot pricing on the day the assaying is complete (approx 7-10 days from now). Any advice which I should choose?
- Cortopassi
- Executive Member
- Posts: 3338
- Joined: Mon Feb 24, 2014 2:28 pm
- Location: https://www.jwst.nasa.gov/content/webbL ... sWebb.html
Re: The GOLD scream room
You don't have to answer, but after a career (??) of collecting scraps, how many ounces are we talking? Just curious.MangoMan wrote: ↑Thu Aug 13, 2020 6:39 amAnd that is what I told them earlier this morning. Since gold futures are up.Cortopassi wrote: ↑Wed Aug 12, 2020 9:40 pmBird in the hand...tomorrow.MangoMan wrote: ↑Wed Aug 12, 2020 2:41 pmOkay, so I have an interesting dilemma: Dentists accumulate scrap metal during the course of business and I have held it waiting for higher metal prices. Now that gold and silver are way up, I sent in a bunch for processing. They have given me the choice of tomorrow's spot prices (8/13), or the spot pricing on the day the assaying is complete (approx 7-10 days from now). Any advice which I should choose?
-
- Executive Member
- Posts: 5994
- Joined: Wed Dec 31, 1969 6:00 pm
Re: The GOLD scream room
So they have two whole examples of when this theory would have predicted the gold price would go down, and that makes it a fact?Ugly_Bird wrote: ↑Thu Aug 20, 2020 12:48 pmHmmmm...
https://www.marketwatch.com/story/gold- ... yptr=yahoo
LOL.
- mathjak107
- Executive Member
- Posts: 4456
- Joined: Fri Jun 19, 2015 2:54 am
- Location: bayside queens ny
- Contact:
Re: The GOLD scream room
for what it's worth , an article today on gold from seeking alpha
https://seekingalpha.com/article/437000 ... ent=link-0
https://seekingalpha.com/article/437000 ... ent=link-0
- Ad Orientem
- Executive Member
- Posts: 3483
- Joined: Sun Aug 14, 2011 2:47 pm
- Location: Florida USA
- Contact:
Re: The GOLD scream room
Tough day across the board with everybody piling into cash. Gold and silver have both broken below support levels at $1900/oz and $25/oz. With much of Europe inching towards another lockdown, the major correction on Wall Street may not end soon.
Re: The GOLD scream room
Rising dollar is definitely putting the breaks on metals. I'm suspect that it will become a "major correction on Wall Street" though, as the scenario you listed should actually lead to a rally in U.S. assets (ie USD, stocks, and bonds) at the expense of the Euro, international assets, and metals. Of course, this could all just be a consolidation pullback for the Euro and metals, the USD was pretty oversold on the short term, and the Euro and metals have both been overbought in turn. A pullback in that trend could be a dip worth buying, especially if congress can finally agree on a fiscal stimulus package.
- Ad Orientem
- Executive Member
- Posts: 3483
- Joined: Sun Aug 14, 2011 2:47 pm
- Location: Florida USA
- Contact:
Re: The GOLD scream room
Thought I'd blow away some of the cobwebs from this unusually quiet thread. I note a nice bump in metals as people are anticipating more stimulus/debt/inflation with the likely change in administration. Also stocks and even bonds are all doing nicely today.
Re: The GOLD scream room
I’m wondering if I should focus acquiring silver. It’s still quite undervalued compared to gold.
- mathjak107
- Executive Member
- Posts: 4456
- Joined: Fri Jun 19, 2015 2:54 am
- Location: bayside queens ny
- Contact:
Re: The GOLD scream room
in a downturn , silver typically plunges with all other commodities ... 2008 saw gold up while silver plunged .
- Ad Orientem
- Executive Member
- Posts: 3483
- Joined: Sun Aug 14, 2011 2:47 pm
- Location: Florida USA
- Contact:
Re: The GOLD scream room
mathjak107 wrote: ↑Sun Nov 08, 2020 3:32 amin a downturn , silver typically plunges with all other commodities ... 2008 saw gold up while silver plunged .
Agreed. Silver is strictly VP stuff. I do have a small position that I acquired when when silver was trading under $15 but I don't consider that as part of the PP. And as a speculation, I would not be adding to that position right now.
- mathjak107
- Executive Member
- Posts: 4456
- Joined: Fri Jun 19, 2015 2:54 am
- Location: bayside queens ny
- Contact:
Re: The GOLD scream room
not a pretty day for gold or tlt . gld shows down almost 4% and TLT down 2% premarket.
Re: The GOLD scream room
I had a little cash I needed to put into gold, and this looks like as good of a morning as any to deploy that cash.mathjak107 wrote: ↑Mon Nov 09, 2020 7:43 amnot a pretty day for gold or tlt . gld shows down almost 4% and TLT down 2% premarket.
- Cortopassi
- Executive Member
- Posts: 3338
- Joined: Mon Feb 24, 2014 2:28 pm
- Location: https://www.jwst.nasa.gov/content/webbL ... sWebb.html
Re: The GOLD scream room
Well, this is where stocks take up the slack!
- mathjak107
- Executive Member
- Posts: 4456
- Joined: Fri Jun 19, 2015 2:54 am
- Location: bayside queens ny
- Contact:
Re: The GOLD scream room
exactly .
just a shame it isn't all gravy on a day like today , we have so few days like this .
just a shame it isn't all gravy on a day like today , we have so few days like this .
- Cortopassi
- Executive Member
- Posts: 3338
- Joined: Mon Feb 24, 2014 2:28 pm
- Location: https://www.jwst.nasa.gov/content/webbL ... sWebb.html
Re: The GOLD scream room
I can only imagine that it is a slight delay for gold. Not like Biden is going to turn off the money spigot.