Here you go. I have no charts yet.

Al Kamego

That line just completely stopped the downward action. Amazing.

And now the buyers...

Now there's something you don't see too often. It bounced to the KZ, then right at 1:00 PM it dumps a bit off that. And the huge 1-min volume spikes that you usually see aren't there (there are still volume spikes, just not as big as usual, which has been the case, as it is on and off, the last three days now). These spikes don't usually produce any significant price change (I don't understand the mechanism for that at all). So, now we have less volume and a drop. Curious, but likely insignificant, since there was no pattern the last three days that I could see.

Seriously, folks. Study your options. Do your own due diligence. This one is only, really, for my well-to-do readers.

http://www.zerohedge.com/news/2013-03-06/guest-post-number-1-problem-when-owning-gold

And herein lies the ultimate truth, which translates to our entire life savings that we have in cash being stolen from us:

“The Bank never "goes broke." If the Bank runs out of money, the Banker may issue as much more as needed by writing on any ordinary paper.” – Monopoly Board Game - Rule Book, Third Paragraph of Section titled - The Bank…..


Here's where I saw that:

http://www.zerohedge.com/news/2013-03-06/guest-post-number-1-problem-when-owning-gold#comment-3306019

Okay, I won't go on and on like yesterday. You all get it. It's scary, but you better look over your options while you still can. Just my opinion.

yes, i know.....it's so improbable.....but the games are there to be played so you just never know, do you?

Let me make one comment here. I do not trust anyone, no less someone overseas. Even if you could get to your gold there, who's to say there will be a 'there' when you get there. So, for me, I wouldn't personally consider this option, except maybe for a small amount, and that's not so practical. But, I am not the be all end all for ideas. Everyone has to decide for themselves what they think is best for them.

The old saying is 'If you don't have it in hand, you don't really have it.' But, then the gub-er-mint makes you a felon if you don't turn it over to them for a handful of new paper dollars, and roving bands of 'Mad Max' psychos go house to house (or follow you home from the black market) and try to take it. No problem, you'll sit at your perch with all your guns and ammo, saying 'Let them come...'. Okay, and when they throw several Molotov cocktails on your roof in the middle of the night, what then? It's a no win game that you don't want to play.

Point is, if we get a total breakdown, I just don't know how to protect ourselves from that. Think it can't happen, think again. Look at when the Soviet Union broke up (or the LA riots right here at home), and that was child's play compared to what can happen if this thing goes. Those were tough people, too, we are marshmallows. Take away our beer, cigarettes, and American Idol and we are lost. Just think it all over and make sure you have some plans in place. Talk to others about all this. Please.

Originally posted by jimkane

Seriously, folks. Study your options. Do your own due diligence. This one is only, really, for my well-to-do readers.

http://www.zerohedge.com/news/2013-03-06/guest-post-number-1-problem-when-owning-gold

Notice a lot more posts of doom and gloom lately? That's not without reason... You know me, I don't do anything without a reason...

Let me lead in by saying that professional poker (especially no limit hold 'em) is the closest thing to trading I have seen. Many traders become poker players, and many poker players go on to trading. My trading skills, I feel, took a huge jump when I spent a few years studying these guys and the strategy of the game. Anyway, I think 'Rounders' with Matt Damon is the best trading movie ever, even though it's about poker. With that said...

I've got a funny little story that has to do with a point I was trying to make to my hedge fund student (the one described elsewhere) in one of our sessions. Understand, no claims here, just a hypothetical situation I'm discussing. Very active intraday traders would probably grasp this better than the intermediate-term traders.

I was explaining how sometimes I don't like how the market is trying to push us 'smart' traders around. Go ahead, play games with the suckers, give them the hose job and take all their money, that's the game. But don't start shoving me around, I'm not gonna take it. So, sometimes I get in this mood, and I'm just not going to take it. My strategy is to just outplay the market on that hand.

If I were to do this my tactics would change a bit. I'd adapt to what they were doing, just trying to outplay them. Not get shoved around. You go over the top of me, I'll come right back at you. I'm just going to outplay you this hand. Maybe this makes no sense, but if you are following me on this, you are saying 'Oh, I totally understand what you are getting at'.

So, I dug up the clip from 'Rounders' that describes this exact situation. It's so 'cool' that this, too, I think, has a near perfect analogy for my trading. The only thing that is different is most of the time when a player does this he is trying to 'train' the other player not to mess with him, and many times this works, whereas the market doesn't know you and learns nothing from what you do.

(This last statement isn't totally true. If you move any kind of money and start taking it out, the market will, indeed, adapt and try to stop you. I once knew a guy who figured out a 'glitch' in how NYSE did orders and started hammering the specialist for one particular stock. One day he did like 70% of the volume for the entire stock (70% of all trades that occurred he made the spread), replacing the specialist. He was raking in incredible sums.

I told him to go easy, take it out small day after day. He wanted to dominate. I said the specialist is going to study you, see how you are doing what you are doing, and stop you. He laughed. A few days later, whatever it was, the specialist changed some things, and he no longer could work his 'trick'. The market can see you, and adapt, if you are significant to it.)

So, on to the clip.

Yeah, Marcin and rat are crankin' out the charts. Good stuff, guys.