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CEO.CA members discuss high-risk penny stocks which can lose their entire value. Only risk what you can afford to lose.
@Samson@Goldfinger re 1,300 t of $gold flowed into $china in 2016. This is a complicated issue. Firstly, over 60% of China's gold consumption comes from the jewellery sector. Currently this industry does not need as much gold as before because retailers are shifting the strategy from volume in the past to margins. In the past they sell alot of 24k gold (low margin). Now they are pushing high margin products like gems and 18k. Secondly, in order to protect the yuan exchange rate, the PBOC 'suggested' the banks to import less gold. China is very likely to import less gold in 2017 vs 2016, as the import quota will be likely less this year.
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@F6@GOldfinger China was ridiculed in the press when they stated their goal was to obtain 3000 tonnes, and they're nowhere near that now, after years of trying.
But the banking sector in the west is so corrupt that they may actually sell all of thier central bank gold in order to supress the price, which is the only way that the Chinese central bank can achieve their goal.
Banks themselves don't have any gold, or store any, and haven't for a very long time. ETFs are being drained of their gold by unit holders taking delivery, it may happen that China may seize their citizen's gold to depeg from the dollar and peg the Yuan to the gold price, or a weight of gold.
@Goldfinger$Trump doesn't want a 'strong' dollar, he knows that a weaker currency will give him the only free lunch he can get in terms of the economy. Anybody betting on a strong USD here will be disappointed and there is no way the $Fed is hiking 4 times this year. Write that down. $gold
@Goldfinger@Highheat I knew you would comment. My thoughts on manipulation and conspiracy in markets are nuanced. And yeah by the dictionary definition of the word manipulation, every CB is a manipulator, some much more than others.
@HighheatThe biggest problem with fiat money is the it allows the counterfeiter to print enough money to manipulate every market. Case in point @Goldfinger pointing out there are a billion ounces of paper silver at the COMEX now. Until markets are allowed to clear and be free you can forget MAGA it's that simple.
@GoldfingerFor such modest price action I have rarely seen so much skepticism and in some cases outright bearishness on a sector as I am experiencing on $gold miners currently. Sure this range has been frustrating and messy but if we remove all of our thoughts and biases and simply focus on price, it has been a normal and healthy consolidation: http://cdn.ceo.ca/1cdq6b5-GDX_Daily_3.30.2017.png+
I am BULLISH, not crazy long on leverage bullish, but I think prices climb the wall of worry and steadily move higher over the coming weeks. $GDX
@Goldfinger@david It's the difference between wanting to be right vs. being effective and profitable. I don't care much about being right and when I notice that being right is starting to creep into my thinking I do my best to snap out of it. Most market participants don't get this distinction.
@Goldfinger@david In case you didn't notice we have some biased chatters on this forum ;) Not exactly the most objective crowd. I do believe the $Fed will raise 1-2 more times this year, and I also believe that economic growth will continue to undershoot the Fed's relatively optimistic forecasts. Secular headwinds facing the U.S. and other developed economies are pernicious and actually growing stronger over time.
@Goldfinger@david Booom!! Hit the nail on the head. We can sit on here all day chatting about theories and make up all kinds of stuff, and at the end of the day none of it matters until it makes prices move. I'd rather be on the profitable side of the trade than be right or look right in front of others.
@Goldfinger@Highheat Ackman "stuck to his guns" with $VRX and he's still sticking to his guns with $HLF short trade despite significant evidence arising contrary to his thesis. Conviction is dangerous.
@GoldfingerYou don't see this very often, both the 50-week and 200-week averages at exactly the same level to the penny despite much different trajectories: http://cdn.ceo.ca/1cdqnp8-Silver_Weekly_3.30.2017.png+$Silver
Also what if I told you the dollar index would be back above 100, yields would be higher, and stocks would be rallying 7 days in a row, how would silver be performing this week? Well it's still up 2% for the week despite all that.
@Goldfinger"We are buying up shares as fast as we can" ~ $LULU CEO
The company has a $100 million stock buyback in place which was announced in December 2016. In theory LULU could have completed its entire buyback allotment during today's trading session.