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« Gold: Load Up On Any Weakness | Main | Sri Lanka Boosting Gold Reserves »
Monday
Nov092009

Gold Up in Hong Kong

Gold Chart 09 Nov 09.JPG

A good start to the week as gold rose slightly in Australia and carried on moving higher in Hong Kong. Hopefully this move can gain some traction and follow through to London and then blow the pants off the shorters in New York City.

If the precious metals can maintain some momentum here then both the core holdings and the Options plays should show signs of good improvements. We are still gunning for two months of tremendous progress despite the detractors, the worriers and those who still recommend keeping a miserly 5% of your portfolio in gold and silver. We have some cash in the trading account but not much as we are just about all in and this is the only arena worth investing in, in our very humble opinion.

Yes we are confident to the pint of being cavalier as we have often written so you know our position.

As we wrote recently “Prepare for fireworks in the precious metals arena as the sparklers have been lit and the rockets are approaching the launch pad.”

Have a good one and stay calm.

Got a comment – then fire it in.

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Reader Comments (10)

Indeed, keep 5% of your own assets in PM's.......AT YOUR OWN PERIL!
sjm

November 9, 2009 | Unregistered CommenterSnakeman

Snakeman, I am trying to figure out if your are pro or con PMs ....

November 9, 2009 | Unregistered CommenterTJ

I should clarify ... when you say 'AT YOUR OWN PERIL...' are you syaing that to the PM bulls or the fiat currency bulls? That is my question ...

November 9, 2009 | Unregistered CommenterTJ

SJM , ..Are you having pm-s ...the way obammanation , is going ...you might not hold on to your burger flipping JOB !

November 10, 2009 | Unregistered CommenterBONBON

Burger-flippin job.LOL..Had a good laugh on that one with 2 B.S.'s and a doctorate from a major U, and I own my own business...I create my own inventory and lots of it... it;s doing well...the boys here know I'm a gold bull...so yeah, 5% of your assets in physical metal is 5% more than 99% of people with none...I got into physical in 2005 and think I;ll stick around a while...trust me, ya'll don't need to worry about me in the least...
The Snake Breeder

November 10, 2009 | Unregistered CommenterSnakeman

SJM, good move.

I, too, am in physical gold (and silver) since 2003 ... my wife pressed for it - best advice I took ....

November 10, 2009 | Unregistered CommenterTJ

TJ...Since 2003 was very forward-thinking, congrats...yes as Jason Hommel likes to say: Physical is Power, Paper is Slavery...IS THERE ANY DOUBT BY LATE 2009?? Since most Americans have less than 100K Assets, 5% is less than $5k...that's a good start in physical...it's a question of how much FREEDOM you'll want in the future...regards...Snakeman

November 10, 2009 | Unregistered CommenterSnakeman

I agree ... I remember telling people what I think they should invest in, and that it was good to invest in any of the PMs ... and I was just happy at the time with certificates, ETFs, anything that was PM related. It wasn't until I did more research from some informative websites and newsletters that physical holding of PMs is our safest bet.

Regardless, the responses I got from people were anywhere from confusion to outright disbelief, since you cannot 'eat' gold or silver. Whatever ...

Some still ask me to this day if I am a holder of PMs ... why wouldn't I be, is my answer to them.

On a sidenote, about 3 to 4 years ago, I was telling people that a massive downturn, if not depression, was coming. As well, I stated that the social status of the current industrialized/westernized/1st world countries would be challenged - again, the responses were anywhere from confusion to outright rebuttal. I had to remind these people that this isn't exactly something that I wanted, but was also realistic. I unfortunately still see North America becoming pretty close to 2nd World region.

I also told a couple of family members over a year ago, that definitely by fall 2009 one of the Detroit 3 would file for bankruptcy - hmmm ... Chrysler AND GM beat me by 6 months. My relative told me at the time I said that that 'there is no way the public/gov't would let that happen'. The debate started because he asked me of my opinion on one of these companies' products - I gave him my honest opinion.

It's too bad I don't see a shining light any time soon for North America, and I am still very worried about the general public, since it is them I feel most sorry for ...

November 10, 2009 | Unregistered CommenterTJ

Sure enough, the vast majority of Americans just can't fathom our world economic dominance is coming to a rapid end, thanks to Wall Street and our politicians...if you don't protect YOURSELF, don't expect "them" to do it for you...physical gold and especially silver (because of its greater ease of liquidity) will allow you to weather the COMING TSUNAMI...unfortunately it will be too late for the vast majority of Americans...they rely on mass media, which is a sad joke...Snakeman

November 10, 2009 | Unregistered CommenterSnakeman

Snake man , Do not get all coiled up . my comment was directed at another poster !...hold the real ''stuff'''no paper etf`s ....strong and long GOLD - SILVER !

November 11, 2009 | Unregistered CommenterBONBON

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