Gold knocking at $1300 this evening...

I think the Fed raising rates is off the table, following the Brexit vote, for a considerable amount of time. The dollar already is strengthening against all currencies to a disturbing level.

 

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$1340-ish now... Silver finally cracked the $18 barrier earlier... now at $17.93. I almost don't want to sleep tonight in anticipation of what's going to happen here.

 

Hehehehehe......

Lovely bit o'limey news there eh, luv???

All it took was patience and to wait for the inevitable next world crisis - and the cards come tumbling down.

I believe most of the buying today was short covering.

Dow Jones fair value is showing a 670 point futures drop for the open.

Viva La Contrarion!

Time to start watching for an entry point back into the market - and to leverage a bit of metal mean while.

As crazy as it would make the market - I am now wondering just how much "paper gold" will be called on, which would put a nice premium on physical.

Now the question is, who will be designing the next generation of British currency, and where will I be able to order first year proofs?

I feel vindicated and rewarded for sticking to my plan.

 

I was thinking of moving my stocks into cash yesterday. Oh well. I'll have to think about it today, see if there's any strength in some recovery.

 

Your only option now is to stick-and-stay to make it pay

 

Market opens in a few minutes....

 

BRexit

 

depends if it is going to be a consistent drop day after day or if there's going to be some recovery. We'll see.

 

After all these years of talking about Grexit, the UK beat them to it.
Now I wonder about Greece, Spain and Italy. And France ?

 

currently at 1310 was up at ~1330 earlier...BUT Ag is up 21.5% last six months!

 

What goes up must come down!

 

Doesn't matter. We've now hit fresh yearly highs. Buyers will now step in. Also a lot of short covering going on and alot of scared money being transferred to pms. My guess is pm's will hover around where they opened this morning then have another big bump tonight in world markets

 

It was way down when everyone was complacent last summer.

Now we have the Brits declaring their independence, we have a lame duck president - and a very uncertain market and flat GDP.

It's very easy to say random quotes - but those that bought metals over the last year are solidly in the money today - and the future looks bright.

 

Fear and greed add to the heat. Fear is in the running, but tomorrow is anyone,s guess! I always try to be well diversified.

 

Tommorow is Saturday

You must be a bear. The bulls are lovin it

Think of it like this, the UK just sucker punched world markets. They're dazed. Now, how will they react, will they get up and punch back or run away with their tails between their legs. And in the longer term the tail (UK) will be wagging the dog (world markets) and how the UK handles it will set the tone. If they go back to Thatcherism style Reganomics the world will prosper and London will be a silicon valley type boomtown. So much uncertainty and markets hate that.

 

My mutual funds suffer and the gold shimmers...or is it the the other way around? I don,t think it really makes much difference to me, but others can make some good of it in these mood swings...I just ride the roller coaster and have fun.

 

So the Brits claimed independence from Germany, I mean the EU ...
sounds like 70 yrs ago all over except without explosions.

 

I bet there were some big trades that went bad when those results came in last night. Those movements were big enough to trigger margin calls all over the board. Serves em right for playing with fire.

 

I think yesterday's big run up was short coverings - and also a severe mis-read by the polling pundits in the media. Gold sunk to $1260 and the markets soared 230 points based on "public media" and a huge mis-read of the silent majority.

Familiar tunes...