Quote from: MatthewLM on September 25, 2011, 03:46:13 PM

The worst time to sell is on a dip. It's the best time to buy. Sensible to allow prices to stabilise though. Don't catch the falling knife as they say.

That depends on the market, and the extent of the dip. In a bull market like the one gold is in now, absolutely.

With the burst of demand on the latest massive price drop, I'd say the knife has fallen and it's time to pick up the goodies. Especially after so many dealers ran out of silver. Downside is limited while upside remains out of sight; we're still too far offshore to see land.

Quote from: MatthewLM on September 25, 2011, 06:38:29 PM

Bernanke obviously wants to destroy the stock market and cause havoc for the banks. The federal reserve wants another political drama but this time I guess they will just allow banks to fail. What will the US government do afterwards? Create a single nationalised bank?

Does he really want to destroy the markets? I'd say it's more realistic to assume the Fed is seeking to maintain overall stability, making concessions and sacrifices where necessary. Political drama serves as an effective smokescreen.

I understand your sentiment - it just goes a bit extreme, unless good ol' Ben really is a psychopath.

Quote from: BitcoinBug on September 25, 2011, 07:21:34 PM

I agree with Mish's explanation on silver (gold) drop:
- Fed did far less than expected
- Mutual fund redemptions
- Margin calls at hedge funds
- China growth story fading

+ higher margin requirements on PM

Agreed - those are big ones.

One major issue I have with Mish is that he dismisses readily apparent factors that have the whiff of collusion or conspiracy. He reminds me of an ostrich on these matters.

Add to the list: HFT and/or direct central/bullion bank management of precious metals.

Quote from: BitcoinBug on September 25, 2011, 07:21:34 PM

Cypherdoc "won" a battle, we'll see about winning the war.

With trading, perhaps. We seem to have different objectives, his being short-term profit and mine being accumulation. Any trading profit I make will be on an extended time basis. This week will be one of additional accumulation (options, shares & bullion).

Professional gold buyers, relaxed and waiting for the sellers to exhaust themselves:

Professional gold sellers, scaring the amateurs off with fake weapons and ammo:

Bitcoin seems to have reasserted its quasi-status as an equity currency with almost a predictive element toward equity markets. Not that I have any empirical data for any of that yet, but it certainly seems to move as equity markets do shortly before the big ones shift, and stabilize a bit earlier as well.