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Outflows from the GLD hit $1B in January and have accelerated in February, now summing to $3.1B...

Outflows from the GLD hit $1B in January and have accelerated in February, now summing to $3.1B YTD. Bulls may take heart - the last time the GLD suffered outflows was mid-summer 2012, just ahead of a big rally in gold prices. AUM in GLD was $72B at January's end.
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Comments (27)
  • Macro Investor
    , contributor
    Comments (8782) | Send Message
     
    So Paulson is still holding. hmmm.
    22 Feb 2013, 09:39 AM Reply Like
  • filipo
    , contributor
    Comments (4194) | Send Message
     
    Macro,
    Out of curiosity.
    Why do you want his shirt ?
    Is he right ?
    (Forgive my laziness, I could google him up)
    22 Feb 2013, 10:32 AM Reply Like
  • Macro Investor
    , contributor
    Comments (8782) | Send Message
     
    I just find it distasteful that someone made money from the housing market crash.
    22 Feb 2013, 10:38 AM Reply Like
  • Willy Graves
    , contributor
    Comments (87) | Send Message
     
    Oh, come on. If more people had been doing what he was doing the bubble would never have gotten as severe as it did.
    22 Feb 2013, 11:31 AM Reply Like
  • filipo
    , contributor
    Comments (4194) | Send Message
     
    Macro,
    I don't know the details, but did he aggravate the situation, like betting on a downsize ?
    I don't want to be disgraceful, but didn't GS do that too ? Often against his own clients ? Sell CDO's and in the same time short the housing market ?

     

    Not that I'm a mining-lover (on the contrary), but aren't you harming US gold miners (the US are the 4th largest gold producers) as well by driving up DUST ? Lots of US miners will get unemployed due to the low gold price.
    In markets, some gain, some loose.

     

    I heard McCain had some 9 houses that he built on speculation before the crash. I understand McCain is very right wing. So Paulson did a wrong thing by slashing McCain's speculation ?
    22 Feb 2013, 11:43 AM Reply Like
  • Macro Investor
    , contributor
    Comments (8782) | Send Message
     
    filipo, You read up what Paulson did. And yes, GS aided him. I wouldn't mind if all gold mining is stopped. Consider the environmental implications. I plan to short defense stocks too after sequester.
    22 Feb 2013, 12:47 PM Reply Like
  • Macro Investor
    , contributor
    Comments (8782) | Send Message
     
    Sure Willy.
    22 Feb 2013, 12:47 PM Reply Like
  • jaych79
    , contributor
    Comments (504) | Send Message
     
    It's one thing to bet on a collapse. It's another to do everything in your power to make sure that collapse happens. That is what Paulson and Soros did. That is distasteful.
    22 Feb 2013, 01:35 PM Reply Like
  • Macro Investor
    , contributor
    Comments (8782) | Send Message
     
    Exactly, jay.

     

    Like I said, this gold price drop? Couldn't have happened to a nicer guy.
    22 Feb 2013, 01:41 PM Reply Like
  • filipo
    , contributor
    Comments (4194) | Send Message
     
    Well, it appears he found a powerful friend: Berlusconi.
    If Italy looks ugly, Europe looks ugly, the world looks ugly.
    25 Feb 2013, 11:12 PM Reply Like
  • Macro Investor
    , contributor
    Comments (8782) | Send Message
     
    Fear trades don't last.
    28 Feb 2013, 05:09 PM Reply Like
  • filipo
    , contributor
    Comments (4194) | Send Message
     
    Macro,
    Yes, I saw that yesterday and today.
    Amazing, isn't it.
    I took some profits today. God knows what happens tomorrow.
    I still have some doubts on that sequester issue.
    I don't trust the republicans. They might prefer let the Titanic drawn.
    28 Feb 2013, 05:34 PM Reply Like
  • Macro Investor
    , contributor
    Comments (8782) | Send Message
     
    I think the sequester is coming unfortunately. Republicans believe by hurting the economy that way they will win elections in 2014. Well, I think they will lose the Congress in 2014 if they keep up their reputation as the party of no who won't help the President at all in trying to revive the economy.
    28 Feb 2013, 05:36 PM Reply Like
  • filipo
    , contributor
    Comments (4194) | Send Message
     
    Macro,
    I'm afraid so too.
    That's why I liquidated large part of my pf last week and yesterday. Next days I'll be looking out for some bargains.
    I reckon you did the same.
    1 Mar 2013, 03:56 AM Reply Like
  • Macro Investor
    , contributor
    Comments (8782) | Send Message
     
    I raised money last week and bought calls Wednesday and Thursday.
    1 Mar 2013, 10:50 AM Reply Like
  • filipo
    , contributor
    Comments (4194) | Send Message
     
    Macro,
    Excellent, although maybe a bit premature on the calls, depending on what you bought.
    I bought heavily today. There was slaughter on EZ markets. Already now, at markets' closing time, I could sell again with average profit of 3%. I prefer to wait a bit more:
    http://seekingalpha.co...
    1 Mar 2013, 11:27 AM Reply Like
  • Christopher Wallace
    , contributor
    Comments (1206) | Send Message
     
    Another technical sign that it is starting to bottom.
    22 Feb 2013, 09:53 AM Reply Like
  • Macro Investor
    , contributor
    Comments (8782) | Send Message
     
    Well-rounded bottom?
    22 Feb 2013, 09:54 AM Reply Like
  • Stephen Aniston
    , contributor
    Comments (3173) | Send Message
     
    We are not even at 147 yet. Which is the 52-week low in case your memory is short.
    22 Feb 2013, 10:31 AM Reply Like
  • EWHeid
    , contributor
    Comment (1) | Send Message
     
    While I believe the long term is bullish for the precious metals; it appears it will still go further down before getting back up. Gold and Silver bottomed three times respectively at around $1,530 and 26.10. These levels certainly define a strong support levels. Commercial buying has dropped, but COT levels still indicate further room to go south. The million dollar question is, will previous support level hold for a fourth time? If not, nothing would seem holding back silver for a plunge to a $14.00 - 15.00 range.
    22 Feb 2013, 11:51 AM Reply Like
  • minecanary
    , contributor
    Comments (716) | Send Message
     
    I can't wait until the Chinese get their version of the CME up and running. The commies will show our slackers how to really deep thrust an investor...and even make it look good in the stats.
    22 Feb 2013, 12:14 PM Reply Like
  • Macro Investor
    , contributor
    Comments (8782) | Send Message
     
    Only the commies can take on the socialists in the USA, eh?
    22 Feb 2013, 12:55 PM Reply Like
  • Stephen Aniston
    , contributor
    Comments (3173) | Send Message
     
    Takes one to beat one!
    22 Feb 2013, 02:36 PM Reply Like
  • minecanary
    , contributor
    Comments (716) | Send Message
     
    I think they are really just getting tired of all the converting they have to do...I mean now they have to steal the peasants land, build some unneeded office space w/gov't loans to further GDP. Then you have to pilfer those funds through your family tied corporations, convert them to gold, and sneak them (and yourself) to a cooperating country. Now, they can just build up an investor base, Corzine the company, and be sitting w/metals free and clear.
    23 Feb 2013, 11:11 AM Reply Like
  • Macro Investor
    , contributor
    Comments (8782) | Send Message
     
    You should send an urgent fax to the Chinese Consulate. They may not know what they are supposed to do.
    23 Feb 2013, 02:06 PM Reply Like
  • fayrweather
    , contributor
    Comments (99) | Send Message
     
    hmmm, sounds like a good time to start dollar cost averaging in…… start to get in while the others are getting nervous. Always to the best approach.
    22 Feb 2013, 02:34 PM Reply Like
  • whaddyamean?
    , contributor
    Comments (513) | Send Message
     
    Thank you, Bernard Baruch.
    23 Feb 2013, 10:03 AM Reply Like
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