Seeking Alpha

Gold slumps to six-month lows, teeters near $1,200/oz.

  • Seems the Fed taper wasn't priced in to gold prices after all, as spot gold tumbles briefly below $1,200/oz. to six-month lows, and the leading gold miners ETF (GDX) slides to new 52-week lows.
  • A few minutes ago, gold (GLD) -2.6% to $1,202.80/oz., silver (SLV) -4.2% to $19.20.
  • The taper is "another sign of increasing normalization for the world economy," Macquarie analyst Matthew Turner says. "Gold's insurance function is less desirable in that environment."
  • Commerzbank’s commodity strategists argue the selling is overdone: "The fact that money will remain extremely 'cheap' for a long time yet should in fact have lent support to the gold price rather than it coming under pressure" due to the impending end to QE.
  • Precious metals ETFs: IAU, AGQ, PHYS, SIVR, USLV, ZSL, SGOL, UGL, DGP, GLL, DZZ, UGLD, DGL, DBS, DSLV, DGZ, AGOL, GLDI, DGLD, SLVO, TBAR, USV, UBG.
  • Miner ETFs: GDXJ, NUGT, DUST, SIL, GLDX, SLVP, GGGG, RING, SILJ, PSAU, JNUG, JDST.
Comments (62)
  • And unfortunately for those who own gold, it will break the 12 month low too. My next article will explain why (and I sell gold for a living but am offering some good recommendations for those who own GLD or SLV or mining stocks in my next article).

     

    My last article said there would probably be a $10 billion taper from the Fed to save credibility. http://bit.ly/1hQLYcT

     

    Quote: "Is there a chance the Fed may do a token taper to make the market think they still have control of the situation? Sure. Especially if the stock market is out of control and interest rates are low enough. But it won’t be much at all. Probably like the $10 billion that the market thought the Fed would do last time they met."

     

    They will do more QE next year. You can bank on it. Bernake wanted to go out on top and make sure there was no talk of gold during family gatherings at Christmas. All hail the stock market!

     

    Sold some DUST I bought yesterday. And I have told clients (those that ask) to hold off on buying. My articles speak for themselves.
    19 Dec 2013, 09:45 AM Reply Like
  • Doug, do you have a rough target for the bottom? The general consensus I'm seeing is Avi's 98 in GLD, or about $1,000.
    19 Dec 2013, 10:02 AM Reply Like
  • Not really Agbug...it would surprise me for a one or two day dip below $1,000 at all. It's a psychological point that Market Makers (especially Banking ones) would love to break the back of gold bulls.

     

    That sharp move down, similar to today is what I think we'll see. Today was sharp, but percentage wise not that sharp. I would like to see a bounce up before the final smack down. We might get that in January, but my next article will predict some more selling to year end (the same thing my August article predicted): http://bit.ly/15AYcRs (although the dollar hasn't got stronger, it has stayed above the 80 mark on the index, thanks mostly to a weaker Yen).
    19 Dec 2013, 10:47 AM Reply Like
  • Doug,
    do you see a difference or more risk by currently holding GLD rather than physical?
    Do you see PM prices are worse or higher during 2014?
    19 Dec 2013, 12:56 PM Reply Like
  • User, I have always been an advocate of physical over GLD or SLV because if you can store at home somewhere, fees eat away at the ETFs. The cost to buy and sell is only 1% with my company, but every year you have fees that will add up on the ETFs.

     

    I view ETFs as good for trading only. The metals are not insured which is another red flag, especially when you have the likes of JP Morgan as custodian (SLV). GLD has HSBC as custodian, and they too are heavily invested in the Derivatives market, but not as heavily as JP Morgan.

     

    As far as where PM prices are going short term, I still see down, although we sure are due for a bounce. My next article deals with tax loss selling but have been waiting forever from replies from Deloitte before writing. I do see higher prices in 2014. I see a bottoming within 6 months, but that is subject to change if I see different data. There is a reason however I am in seclusion right now and writing my next book, "Illusions of Wealth" due out hopefully in a couple months. Lots of hard work to do and data to decipher.
    19 Dec 2013, 01:26 PM Reply Like
  • 'The taper is "another sign of increasing normalization for the world economy," Macquarie analyst Matthew Turner says. "Gold's insurance function is less desirable in that environment."' - WRONG! Define "normalization." Combine the entitlement crisis in all developed nations due to aging demographics and the trial balloon of Cyprus stealing 10% of its bank customers' assets in the blink of an eye. Physical ownership of precious metals is insurance against such theft. Confiscation of electronic assets to some degree will occur well before gold is confiscated again. The probability of electronic asset confiscation is 100%. So the next question is to ask how much will the government get away with? 10% of it? 20%? Whatever the figure, that should be the minimum percent of your asset classes you should put in precious metals - silver, gold, and platinum.
    19 Dec 2013, 09:50 AM Reply Like
  • precious metals arent being treated very preciously.
    19 Dec 2013, 09:56 AM Reply Like
  • what taper?
    http://bit.ly/1cCLscT
    19 Dec 2013, 10:53 AM Reply Like
  • GOLD investors are effectively down 56% relative to S&P 500 in 2013. Gold down 30% and S&P 500 up 26%. Worst investment idea ever !
    19 Dec 2013, 11:16 AM Reply Like
  • And people who invested in the Nasdaq at the top in 2000 are still down 20% from 13 years ago.

     

    See I too an cherry pick specific time periods of return in order to justify my point....
    19 Dec 2013, 03:38 PM Reply Like
  • According to University of Pennsylvania finance professor Jeremy Siegel in his seminal book Stocks for the Long Run, here's what a dollar invested in various things would have grown to, from 1802 to 2001. (Amounts have been adjusted for inflation.)

     

    Stocks: $599,605
    Bonds: $952
    Bills: $304
    Gold: $0.98
    Did you catch that? Over 200 years, you would have lost two cents of your dollar if you had invested in gold.
    19 Dec 2013, 11:17 AM Reply Like
  • fiwiki, you do realize the price of gold was fixed here in the U.S. for about 70 years, and you do realize that many stocks that were in the Dow are no longer around? This is hardly an apples to apples comparison.

     

    A fair comparison would be 1971 or 1975 forward where citizens were allowed to purchase physical gold beyond $100 (from 1934 to 1975 U.S. citizens could not purchase more than $100 worth of gold...wonder why?).

     

    Also 1934 FDR devalued the dollar by 60% when they raised the price of gold from $20 an ounce to $34 an ounce. Great deal for those who had to turn their $20 gold pieces into the government for their $20 FRN's they subsequently devalued eh?

     

    The Fed was only around for 21 years when they did that. The FRN's, without a relationship to gold have only been around for 32 years. In that time, how much National Debt have we accumulated? When there are no restraints on Congress, this is what the Government can do to money.

     

    Gold is simply insurance for what's to come. Unless of course you believe that the same people who didn't see the 2008 financial crisis coming have somehow fixed the currency and economy. If you do believe that, I direct you to the Fed's balance sheet.
    19 Dec 2013, 11:57 AM Reply Like
  • Why would you adjust for inflation when doing a comparison like that? The point of investing in gold is often to hedge for inflation.
    23 Dec 2013, 02:18 PM Reply Like
  • one dollar of Gold today buys the same basic one dollar basket of goods as it did in 1900. Gold is not an inflation hedge it's a " dooms day" hedge.
    23 Dec 2013, 04:38 PM Reply Like
  • And an Asset that isn't someone else's liability !
    From the movie 'TRADING PLACES' Directed by the late great Aaron Russo !
    Billy Ray Valentine :" No thanks, guys, I already had breakfast this morning".
    Mortimer Duke: "This is not a meal, Valentine. We are here to try to explain to you what is we do here"
    . Randolph Duke: "We are 'commodities brokers', William. Now, what are commodities? Commodities are agricultural products... like coffee that you had for breakfast... wheat, which is used to make bread... pork bellies, which is used to make bacon, which you might find in a 'bacon and lettuce and tomato' sandwich."
    Randolph: " And then there are other commodities, like frozen orange juice... and gold. Though, of course, gold doesn't grow on trees like oranges. Clear so far?"
    Billy Ray: "Yeah" .
    Randolph Duke: "Good, William! Now, some of our clients are speculating that the price of gold will rise in the future. And we have other clients who are speculating that the price of gold will fall. They place their orders with us, and we buy or sell their gold for them."
    Mortimer Duke: "Tell him the good part."
    Randolph Duke: "The good part, William, is that, no matter whether our clients make money or lose money, Duke & Duke get the commissions."

     

    Mortimer Duke:" Well? What do you think, Valentine? "

     

    Billy Ray: " Sounds to me like you guys are a couple of bookies"

     

    Randolph Duke:" I told you he'd understand."
    23 Dec 2013, 06:21 PM Reply Like
  • So are Ammo, food, water, and fuel
    23 Dec 2013, 06:23 PM Reply Like
  • fiwiki,

     

    gold maintains purchasing power over time. How is that a dooms day hedge? lol

     

    Inflation/deflation is a side show.
    23 Dec 2013, 08:29 PM Reply Like
  • Central banks don't hoard ammo, food water and fuel.
    23 Dec 2013, 08:29 PM Reply Like
  • Are you a bank ?
    23 Dec 2013, 10:53 PM Reply Like
  • "According to University of Pennsylvania finance professor Jeremy Siegel in his seminal book Stocks for the Long Run, "

     

    I think most of us here have not expressed that 100% or even 50% of our assets are in precious metals.

     

    I disagree with Dr. Siegel's value on gold. I say it's more like 8% average annual gain, which would put it at somewhere above $400,000.

     

    I do agree that stocks are the best investment. The ultimate personal finance decision anyone can make would be to invest EARLY and OFTEN. A job during high school? Put the leftover money toward your initial investment in a stock index fund. Go to a community college for two years and spend your junior and senior year in a 4 year public university. When you work, fully invest in a Roth 401k and a Roth IRA. Any leftover money should go to buy precious metals bullion.
    23 Dec 2013, 11:41 PM Reply Like
  • Am I a bank? Well, kind of...I created my own currency with the permission of Congress to compete with Federal Reserve Notes; The barackazillion - Google it.
    24 Dec 2013, 09:45 AM Reply Like
  • Then off to the market and attempt to spend some gold……. See how that works out for ya. Gold is definitely money, but a crappy form of money.
    24 Dec 2013, 10:20 AM Reply Like
  • fiwiki, are Euro's a crappy form of money? Can I take them to the market to spend?

     

    Gold is exchangeable for the "scrip of the day" throughout the history of mankind.

     

    Federal Reserve Notes have 42 years of existence without a relationship to gold and we have $17 trillion of debt to show for it.

     

    A 1964 Roosevelt dime can be exchanged into $1.40 of the scrip of the day today and can still get you a $1 candy bar and more.

     

    A 1965 Roosevelt dime could buy you a candy bar then, but maybe a couple of Reagan's jelly beans today.

     

    The end. Merry Christmas as I really don't have much more to discuss in making my points concerning the value of gold and silver in one's portfolio and the destruction of purchasing power by Congress and the Fed. You obviously see it differently and I wish you the best.
    24 Dec 2013, 11:30 AM Reply Like
  • It's the best savings plan ever,at least in this life and in this world. It was good enough for Jesus and it's good enough for me :)
    24 Dec 2013, 12:19 PM Reply Like
  • are Euro's a crappy form of money? *******WHAT ?

     

    Gold is exchangeable for the "scrip of the day" throughout the history of mankind.****** Oh so you can't just take that gold coin/ bullion/ necklace to the cashier.

     

    Federal Reserve Notes have 42 years of existence without a relationship to gold and we have $17 trillion of debt to show for it**** It's not what we use for money, it's obviously who controls it is the problem. One of the key reasons we went of the gold standard was to pay for Veitnam. There is no way to grow a global economy with a fixed currency. It can't be done !
    24 Dec 2013, 01:04 PM Reply Like
  • fiwiki,

     

    You claimed above "Then off to the market and attempt to spend some gold……. See how that works out for ya. Gold is definitely money, but a crappy form of money."

     

    Can you take your Euro to the market and spend it? NO.

     

    But "is the Euro a crappy form of money?" NO

     

    Get it?

     

    You can exchange your "gold coin/bullion/necklace" the same way you have to go somewhere to exchange your Euro's/Pounds/Yen. People will be happy to give you Federal Reserve Notes for this exchange.

     

    I agree with your last statement and no where have I ever said we need to return to a gold standard.

     

    I think we can bury this conversation now.
    24 Dec 2013, 01:15 PM Reply Like
  • Can you take your Euro to the market and spend it? NO.******** Straw man much ? …..You can in Europe.
    If that's the rules of this little tete-e-tete, then you could sell your car and take the cash to the market……Jeezus
    24 Dec 2013, 01:24 PM Reply Like
  • you started it with your nonsensical "can't take gold to the market" comment fiwiki. You assume a person who owns gold would do it and mock it thinking its a reason not to buy gold. Silly.

     

    Your last sentence jumped the shark.

     

    Good day.
    24 Dec 2013, 01:26 PM Reply Like
  • OK, how about pawn your guitar, or 9mm…… ? HHMMM I don't ASSUME anything. A gold dollar buys about the same basket of goods that it did 100 years ago. Gold is not a very good form of money, nor is the gold standard a very good monetary system. If it was we'd still use both! Bu bye !
    24 Dec 2013, 01:46 PM Reply Like
  • Or grow wars .So Ron Paul has been 100% accurate about using Fiat because of it's usefulness in financing wars. Thanks for that reminder. It also reminds me that Gold is the real way to store wealth.
    24 Dec 2013, 02:11 PM Reply Like
  • fiwiki,

     

    Can a Federal Reserve Note "buy about the same basket of goods that it did 100 years ago?" Let me help you here; Federal Reserve notes are not a very good form of money.

     

    You made the case for me.

     

    And we still use both. Both Federal Reserve Notes and One Ounce American Eagles are "legal tender."

     

    Good day.
    24 Dec 2013, 02:15 PM Reply Like
  • Doug ,I exchanged cash for Gold while the banks were closed. Seemed to be better than paper at the time. Especially those pesky negotiable instruments :)
    24 Dec 2013, 02:16 PM Reply Like
  • Allows them the ability to expand and pay for military presence throughout the world (what really backs Federal Reserve Notes some may say). Merry Christmas CoinsK.
    24 Dec 2013, 02:16 PM Reply Like
  • Merry Christmas to you too Doug ! And to further that thought ,does anyone ever talk about fiat 401k plans ? They are really IOU's as well ,and what's even worse that few people think about is that the TAXES due are yet to be added up. So the 401k plan that my wife has with about $225,000 can be taxed at a ridiculous rate by the time they figure how to pay for more government with her savings. Just makes me want to run and sell all the precious metals I can to put it into a paper retirement. Not really .
    24 Dec 2013, 02:23 PM Reply Like
  • And there it is , you change the story line once again……. first you couldn't take Euros to the market,,,,,,,yes you can,,,,,,,, now it's American Eagles are legal tender…….. Number first , Sparky American Eagles are not gold….number next, if you have any go to the local Sac n Scoot and spend them. See if you get more than their face value…..
    24 Dec 2013, 02:47 PM Reply Like
  • fiwiki,

     

    you will never make it in a court of law. Stick with the "issue" as I have. I quoted you word for word and countered each of your points.

     

    I pay more than spot for American Eagles. I'll buy all you have at over spot. Silver and Gold. Silver and Gold.

     

    Merry Christmas.
    24 Dec 2013, 03:09 PM Reply Like
  • I would submit that if they are worth only face value... Then we have to ask , how much would the Income/Capital gains tax be on 1000 of them ? The door swings both ways on that deal.
    24 Dec 2013, 03:20 PM Reply Like
  • Stick with the "issue"******* Is that an attempt at humor ? Like I said take you Silver Eagles to the store. Tell me how much over face value you got for them.
    24 Dec 2013, 05:15 PM Reply Like
  • The "issue" was that I pointed out to you is you can't take Euro's (like gold) to the store either. It doesn't mean that Euro's (like gold) should not be diversified into. But Euro's (like gold) can be taken to an exchange and traded into Federal Reserve Notes and used at the store.

     

    That's sticking to the issue, and it is not humor. My guess is you haven't taken a Business Law class before. My other guess, since you use terms like "bu bye" is you're quite young. Perhaps a college student? Since you don't use your real name, I don't know what I am dealing with. So I will give you the last word and be done.
    24 Dec 2013, 05:24 PM Reply Like
  • That is the issue ,taking your car to a flea market and selling it as a coffee table is a similar strawdog. Really it is the wrong analogy you are using IMHO.
    24 Dec 2013, 05:30 PM Reply Like
  • fiwiki, you do realize the price of gold was fixed here in the U.S. for about 70 years, and you do realize that many stocks that were in the Dow are no longer around? This is hardly an apples to apples comparison. ******* You do realize that none of that matters in the long run as gold hasn't been fixed since 1973 and the investing in the S&P no load index discounts any stocks that come and go.

     

    Also 1934 FDR devalued the dollar by 60% ******** He also confiscated all personal gold coinage.
    19 Dec 2013, 12:23 PM Reply Like
  • I'm not sure if fiwiki is agreeing with Doug or not. Personally I don't think any comparison back to 1802 is relevant.
    19 Dec 2013, 01:04 PM Reply Like
  • Fiwki, you're not understanding what gold being fixed to the dollar means. It means that for most of that time period the rate of return of gold, in terms of dollars, was zero, since it was fixed. Even if the purchasing power of gold went up 10 fold, it was still fixed in dollar terms so viewing the rate of return in dollar would still equal 0% even though its worth much more.That is what Doug is saying and why your comparison doesnt make any sense.

     

    Also since we were on a gold standard, gold and the dollar were synonymous with each other, hence the old saying about the dollar "being as good as gold." So this means you could do something then you cant do today, basically get interest on your gold. You could convert and deposit gold in the bank, get 10, 20, or 30 years of compounded interest on your dollars, then re-convert it back into gold guaranteed at any time in that period for the EXACT SAME exchange rate, but now getting much more of it since you have way more dollars now, but gold is still 20$ an oz, the same when you put it in. You can't do this today with the same long-term guaranteed rate for gold since it's freely traded and you have no clue what the rate will be when you want to redeem. This fact here is why all those comparisons like Siegel's are meaningless. He doesn't take this into account.
    19 Dec 2013, 03:59 PM Reply Like
  • Also since we were on a gold standard, gold and the dollar were synonymous with each other, hence the old saying about the dollar "being as good as gold." So this means you could do something then you cant do today, basically get interest on your gold.******* Do n't insult me. I have no problem " understanding"….. What you apparently can't understand is that You can not have a global commerce with a limited/fixed monetary base, cant cant cant cant cant. It is a gold bugs pipe dream. Look at all the problems simply fixing exchage rates causes, can you imagine, having a gold backed currency, it would be total chaos. How about a salt water backed currency? makes more sense. It's not the medium that is used for money that is the problem but who controls it !
    19 Dec 2013, 11:25 PM Reply Like
  • fiwiki,

     

    Not replying for th3decider but will offer my 2 cents since I was the first to reply to you.

     

    Who said anything about wanting a gold standard? I never have once in all my writings or in the book I wrote. And we already have a salt backed currency...the Federal Reserve Notes since they left the gold standard and allowed the salt based saliva from Congress and the Fed salivating with the zero constraints that have led to an unprecedented $17 trillion of debt with no ending in sight (unfunded liabilities) and only larger and larger budget deficits from one President to the next.

     

    It's not about gold as a standard, although it is a good hedge for this debt issue. It's about an unhinged Congress and complicit Fed who don't have our own best interest at heart. Do you disagree with that?
    20 Dec 2013, 09:05 AM Reply Like
  • Who said anything about wanting a gold standard?…………ou could convert and deposit gold in the bank, get 10, 20, or 30 years of compounded ******** To me this implies that you believe we were better off on a gold standard as it requires gold to be accepted as money, does it not ? But as I pointed out, it's not necessarily what we consider as money, but who controls it that is the fly in the ointment, so yes we can agree to that.
    20 Dec 2013, 04:42 PM Reply Like
  • fiwiki, there were constraints with the gold standard pre-1971 as we had a Congress that lived within its means. Gold was the constraint pre-1971. After 1971, the constraints left the system (gold standard) and Congressional spending via Fed funding is indeed the "fly in the ointment."

     

    This doesn't imply that I am for the gold standard, and I can see how you might read it that way, but alternatively there needs to be control of congressional spending by severe penalties to their careers. In the Old West days, some would call this hanging by a tree.

     

    Concur?
    21 Dec 2013, 12:43 PM Reply Like
  • we had a Congress that lived within its means. ………Prior to 1971 the economy wasn't global, and all the promises made to the Baby boom generation were just that " promises". However, now that 7 billion people have awakened to what 700 million, give or take, wake to every day and generally take for granted, we as the most entitled country on the planet, are arguably the least sustainable.
    21 Dec 2013, 03:15 PM Reply Like
  • "He [FDR] also confiscated all personal gold coinage"

     

    Correction: "He also confiscated all KNOWN personal gold coinage." Not the gold coins that were accidentally dumped into the lake when tens of thousands of fishermen and sportsmen were rowing them in their canoes across the lake and all their boats capsized the day before the edict.
    21 Dec 2013, 07:44 PM Reply Like
  • Not the gold coins that were accidentally dumped into the lake >>> So is there a point to your subjective tale ?
    21 Dec 2013, 11:12 PM Reply Like
  • The point is that you were wrong to say FDR had all gold coinage confiscated. Do you really think everyone who had gold coins turned them into the thugs in Washington (or the agents of the thugs - the banks)?
    22 Dec 2013, 01:24 PM Reply Like
  • yet again, is there a point ? When prohibition was enacted, nobody stopped drinking either, but you did risk some jail time.
    22 Dec 2013, 06:07 PM Reply Like
  • fiwiki,

     

    Your comment was misleading to begin with as you said, "He also confiscated all personal gold coinage."

     

    Citizens at the time could keep $100 of gold. Anything above that they were supposed to turn in or risk fine/imprisonment. In a day where communication was not as good as it is today, I imagine some did not get the message whether they liked government or not.

     

    Of course today, most would tell the govt. to take a hike if they were asked to turn it in, or turn it into jewelry or something. But the govt. is not stupid enough to try this (at least not with the 2nd amendment still intact). Much easier for them to go after what they have control of; tax qualified plans (IRA's and 401k's), via their strong arm the IRS.
    23 Dec 2013, 09:18 AM Reply Like
  • Why go after IRA's and 401K's? Much like that old gangster response "Because that's where the money is" - agreed.
    23 Dec 2013, 09:35 AM Reply Like
  • haha Agbug...agreed...they have "control" too! Remember the 20% they automatically have the IRS take from those who want out before 59 1/2? In addition to the 10% penalty of course. Just a sample of their power.
    23 Dec 2013, 10:30 AM Reply Like
  • My point is/was, as Agbug points out, below……" Just a sample of their power." Something that we have all been witness to, since Fdr was elected and the Democrats controlled Congress for 44 consecutive years. Reagan saw the last real leader and understood the overreach of government, but even he didn't have the power to stop the mostly Democrats congress that continued to spend hugh money and grow the government.
    23 Dec 2013, 12:44 PM Reply Like
  • "Also 1934 FDR devalued the dollar by 60% ******** He also confiscated all personal gold coinage."

     

    Not exactly.The rest of the story,Numismatics where NOT confiscated,and most people couldn't afford them. It was an inside deal for FDR and his friends that helped put him in a position of power . He gave them the deal of a lifetime. Own Gold at a "fixed Price" then they really "Fixed" the price. FDR "Federal Deficit Roosevelt"
    23 Dec 2013, 08:50 PM Reply Like
  • Doug, I agree. Electronic assets are the low hanging fruit. Of course the IRS knows all the brokerage accounts, stock mutual fund accounts, 401ks, IRAs, and bank accounts. They get the 1099 forms from the investment firms.

     

    Cyprus stole 10% of everyone's account on certain minimum amounts. If you were a very good saver, you were punished by such theft. This was a trial balloon and it was pulled off well with no bloodshed. No revolution.

     

    On the other hand government would have to go door to door and violate far more of the bill of rights just to get to our precious metals, our fine collectible liquor, ammo, guns, and other tangible small things that hold value. If they do confiscate precious metals - it will only be AFTER they confiscate a big chunk of our electronic assets.
    23 Dec 2013, 10:17 PM Reply Like
  • The taper is a joke - the march toward insolvency continues. Watch the interest on bonds, it's rising. China isn't buying so who is going to purchase that debt. Gold is insurance and I can't think of a better time for it. As the price goes down China will binge on whatever gold is left as cities across the U.S. go bankrupt. Interesting times.
    19 Dec 2013, 03:47 PM Reply Like
  • Silver makes more sense. It has many more uses than gold. Ahmen.
    19 Dec 2013, 04:29 PM Reply Like
  • "Silver makes more sense. It has many more uses than gold. Ahmen" Did you just chant a prayer from the book of Psalms?
    21 Dec 2013, 07:41 PM Reply Like
  • Trading is about pricing and right now prices are down and appears to be trending that way. Some manipulation may occur to accommodate big holders but I think the handwriting is on the wall. Trade very carefully for now and think ahead, events happen.
    20 Dec 2013, 07:43 PM Reply Like
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