http://finance.yahoo.com/echarts?s=...n;ohlcvalues=0;logscale=off;source=undefined;
Soon possibly , or still downside swoon ?
Soon possibly , or still downside swoon ?
ECON Gold steadying & NUGT ready to run up.??
- Thread starter 2x2
- Start date
Hfcomms
EN66iq
Soros Reports Over $239mm In Gold Positions, Buys $25mm In Call Options On Juniors
May 16, 2013 | By Tekoa Da Silva
n a 13-F release issued by the SEC after market close yesterday, it was reported that Soros Fund Management LLC, founded and chaired by billionaire financier George Soros, significantly increased its gold related holdings, most notably, through the purchase of over $25 million dollars worth of call options on the GDXJ Junior Gold Miners index.
This stunning move by one of the world’s top performing hedge funds, suggests a powerful surge ahead for gold equities. It should be noted, that in the forty years prior to 2010, the Soros Fund averaged a 20% annual rate of return.
A breakdown of the 13-F data indicates that during the first quarter, the Soros Fund:
1. Maintained a $32mm stake in individual miners.
2. Added a staggering 1.1 million shares of GDX to its holdings, at a reported price of $37.84 per share. Total Soros Fund GDX holdings now stand at 2.666 million shares, at a reported value of over $100,000,000.
3. Reduced it’s long position in the GDXJ Junior Miners Index fund, from 1.998 million shares to 1.2 million shares—only to turn around, and purchase 1.510 million call options on the same index, at a reported value of $25,200,000.
4. Lastly, the fund reduced its stake in the GLD gold fund from 600k shares to 530k shares, for a total reported value of $82,000,000.
In summary, as of May 15th, 2013, Soros Fund Management LLC reported owning over $239.2 million in gold related positioning, with over $25 million dedicated to call options on junior mining stocks.
—
Bottom Line: While debate continues as to how far gold and gold equities will continue to drop, the Soros Fund is lightening up on physical gold in exchange for gold mining equities and call options on the extremely volatile junior mining stocks.
There couldn’t be any stronger indication by the fund as to its beliefs about the timing of this bottom (outside of selling everything and going all-in on call options of course).
It remains to be seen whether these positions will end up in the green or not, but with a forty year track record of 20% annual returns, I’ll be betting on the Soros Fund.
—
To view the entire Q1 2013 13-F filing as reported by Soros Fund Management LLC, visit: SEC.gov
Enjoy the article? Please support the site by sharing this URL page link with friends, family, and your favorite chat forum.
Thanks,
Tekoa Da Silva
Bull Market Thinking
http://bullmarketthinking.com/soros...sitions-buys-25mm-in-call-options-on-juniors/
May 16, 2013 | By Tekoa Da Silva
n a 13-F release issued by the SEC after market close yesterday, it was reported that Soros Fund Management LLC, founded and chaired by billionaire financier George Soros, significantly increased its gold related holdings, most notably, through the purchase of over $25 million dollars worth of call options on the GDXJ Junior Gold Miners index.
This stunning move by one of the world’s top performing hedge funds, suggests a powerful surge ahead for gold equities. It should be noted, that in the forty years prior to 2010, the Soros Fund averaged a 20% annual rate of return.
A breakdown of the 13-F data indicates that during the first quarter, the Soros Fund:
1. Maintained a $32mm stake in individual miners.
2. Added a staggering 1.1 million shares of GDX to its holdings, at a reported price of $37.84 per share. Total Soros Fund GDX holdings now stand at 2.666 million shares, at a reported value of over $100,000,000.
3. Reduced it’s long position in the GDXJ Junior Miners Index fund, from 1.998 million shares to 1.2 million shares—only to turn around, and purchase 1.510 million call options on the same index, at a reported value of $25,200,000.
4. Lastly, the fund reduced its stake in the GLD gold fund from 600k shares to 530k shares, for a total reported value of $82,000,000.
In summary, as of May 15th, 2013, Soros Fund Management LLC reported owning over $239.2 million in gold related positioning, with over $25 million dedicated to call options on junior mining stocks.
—
Bottom Line: While debate continues as to how far gold and gold equities will continue to drop, the Soros Fund is lightening up on physical gold in exchange for gold mining equities and call options on the extremely volatile junior mining stocks.
There couldn’t be any stronger indication by the fund as to its beliefs about the timing of this bottom (outside of selling everything and going all-in on call options of course).
It remains to be seen whether these positions will end up in the green or not, but with a forty year track record of 20% annual returns, I’ll be betting on the Soros Fund.
—
To view the entire Q1 2013 13-F filing as reported by Soros Fund Management LLC, visit: SEC.gov
Enjoy the article? Please support the site by sharing this URL page link with friends, family, and your favorite chat forum.
Thanks,
Tekoa Da Silva
Bull Market Thinking
http://bullmarketthinking.com/soros...sitions-buys-25mm-in-call-options-on-juniors/
YEP !!! 6000 shs. @ $8.29
http://finance.yahoo.com/echarts?s=...n;ohlcvalues=0;logscale=off;source=undefined;
http://finance.yahoo.com/echarts?s=...n;ohlcvalues=0;logscale=off;source=undefined;
imaginative
keep your eye on the ball
Those who can indulge themselves in such doings appear to have been on what's politely called a "search & destroy" mission the past month or so regarding gold and its derivatives.
All the while they may be preparing to make a small (or large?) fortune when they next drive the price of PMs up, up & away...
Hang on to your PM holdings - physical or paper - things may be VERY different come Fall. Those who profit greatly from such moves have to mark things up if they want
to gain from the bargain basement prices they're currently picking up PMs at.
JMHO - no guarantees - ymmv - and almost certainly will
All the while they may be preparing to make a small (or large?) fortune when they next drive the price of PMs up, up & away...
Hang on to your PM holdings - physical or paper - things may be VERY different come Fall. Those who profit greatly from such moves have to mark things up if they want
to gain from the bargain basement prices they're currently picking up PMs at.
JMHO - no guarantees - ymmv - and almost certainly will
Today,Tue.5/21/2013. Looks like NUGT should open gap down. Watch for the stop raiders to take out the $9.30 or so stops. I know ,a good sized drop from $9.80, but if Gold recovers, eh,,eh,,eh,,nothing like taking out the weak hands and getting in on the cheap. Again it will depend on what Gold does. Prefill all exit points ,hedges , stops,,,etc,,,etc,,. Trade smart,,quick and WATCH the time/price ratio and money flows. Remember the # rule of trading. Also watch for any news that can derail it all. Big money is getting into this play,look at the vol. jump.Anyways, good luck and have fun make profits.
Search & destroy a.k.a. Stop raiders,, been sayin' that for years, also the no. 1 trading rule,,, entry pts. & exit pts.
http://www.kitco.com/market/
http://finance.yahoo.com/echarts?s=...on;ohlcvalues=0;logscale=off;source=undefined
Search & destroy a.k.a. Stop raiders,, been sayin' that for years, also the no. 1 trading rule,,, entry pts. & exit pts.
http://www.kitco.com/market/
http://finance.yahoo.com/echarts?s=...on;ohlcvalues=0;logscale=off;source=undefined
NUGT performing as predicted. Opened gap down @ $8.94 easily taking out the weak stops down to $8.57, then turned up as gold did.
Limit Buy Order filled @ $8.74 by 6000 shs. NUGT playing the YO-YO to shake out weak players. NUGT building a sharp, choppy up channel with tight time-price ratios on high volume. Play this close to the vest.
Limit Buy Order filled @ $8.74 by 6000 shs. NUGT playing the YO-YO to shake out weak players. NUGT building a sharp, choppy up channel with tight time-price ratios on high volume. Play this close to the vest.
Trivium Pursuit
Has No Life - Lives on TB
2x2, what's your mid-term expectation for nugt, if you don't mind sharing?
Hfcomms
EN66iq
I never had the money, expertise or nerves to do day trading. I've been buying heavily discounted M&A mining companies with good P/E and that are trading around a 70% discount from last years high. I've made a little bit by selling some on the spikes and buying on the pullbacks but that is about as far as I go. I don't understand the intricacies enough to do more than that. So I'm pretty much buying these miners as cheap as I can and will hold on for the adrenaline to kick in.
DANG !!! Well , can't complain ,my stops did what they were supposed to do. Got stopped out at $9.31. $0.57 cents @ 6000 shs. ain't to awful bad.
T.P. said; 2x2, what's your mid-term expectation for nugt, if you don't mind sharing?
Not sure what you're asking?? can you be more specific ?? I'm not trying to be smart a&&, just not sure.
T.P. said; 2x2, what's your mid-term expectation for nugt, if you don't mind sharing?
Not sure what you're asking?? can you be more specific ?? I'm not trying to be smart a&&, just not sure.
Trivium Pursuit
Has No Life - Lives on TB
over a few months. should have been more specific. You're not a smart&&&, you've made money in days...
Trivium Pursuit says;
over a few months. should have been more specific. You're not a smart&&&, you've made money in days...
Will get back to you tomorrow. Thank you,2x2
Check out this 6 Month chart of NUGT & compare to Gold's slide. You can get an idea of how I'm trading this ETF.
http://finance.yahoo.com/echarts?s=...n;ohlcvalues=0;logscale=off;source=undefined;
http://www.kitco.com/charts/popup/au0182nyb.html
over a few months. should have been more specific. You're not a smart&&&, you've made money in days...
Will get back to you tomorrow. Thank you,2x2
Check out this 6 Month chart of NUGT & compare to Gold's slide. You can get an idea of how I'm trading this ETF.
http://finance.yahoo.com/echarts?s=...n;ohlcvalues=0;logscale=off;source=undefined;
http://www.kitco.com/charts/popup/au0182nyb.html
Today,WED. 5/22/2013. Looks like NUGT should open gap UP & run up on a tight price/time ratio & large vol.Watch the tic spread ,,money flow,, etc.. Again the price of gold overnight should be the main factor in run direction. If gold is up before markets open,you might, if your quick, do a MARKET ORDER to get in quick, but be ready to exit or hedge, also quick.
Bernanke to speak around 10:AM about QE easing or to continue on.
My PERSONAL take on why gold dropped is that it was/is a money rotation move. Cash out some gold and put it in stocks,,,, YMMV. If Ben cuts back on QE,I "think" gold will Come back in price and take NUGT up with it. If not,, gold may drop some more along with NUGT. Either way if you're playing this market you need to put aside your prejudice's (sp ) about Gold,, stocks,, money,, etc., and ride the flow. Most of us can't influence the markets one way or the other, so all we can do is jump in or out, long or short as the situation changes. This can be dangerous for the under financed or newbie trader. They usually trade with "scared" money and can't afford the inevitable setbacks that can and will happen.Combine this with "ego" and you have a very bad mix, destined for failure. YOU are going to be wrong, a lot of the time. Accept it and learn, move on.
Anyways, here we go again, an hour to go, good luck.
Bernanke to speak around 10:AM about QE easing or to continue on.
My PERSONAL take on why gold dropped is that it was/is a money rotation move. Cash out some gold and put it in stocks,,,, YMMV. If Ben cuts back on QE,I "think" gold will Come back in price and take NUGT up with it. If not,, gold may drop some more along with NUGT. Either way if you're playing this market you need to put aside your prejudice's (sp ) about Gold,, stocks,, money,, etc., and ride the flow. Most of us can't influence the markets one way or the other, so all we can do is jump in or out, long or short as the situation changes. This can be dangerous for the under financed or newbie trader. They usually trade with "scared" money and can't afford the inevitable setbacks that can and will happen.Combine this with "ego" and you have a very bad mix, destined for failure. YOU are going to be wrong, a lot of the time. Accept it and learn, move on.
Anyways, here we go again, an hour to go, good luck.
Anyone notice the negative stories about Gold on Monday (& following days) EVEN AS GOLD WAS CLIMBING IN PRICE?
On Monday it seemed that the higher Gold prices went, the more the negative Gold articles were posted - on Yahoo, anyway.
Today's (CNBC) article is about Gold prices rising for years based on a 'misunderstanding' - posted just as Gold is about to gap up at open.
Read the article and judge for yourself - but at first blush there doesn't appear to much 'there' there in the story.
No tinfoil - but some powerful forces seem determined to keep stomping on Gold prices.
All JMHO - ymmv
On Monday it seemed that the higher Gold prices went, the more the negative Gold articles were posted - on Yahoo, anyway.
Today's (CNBC) article is about Gold prices rising for years based on a 'misunderstanding' - posted just as Gold is about to gap up at open.
Read the article and judge for yourself - but at first blush there doesn't appear to much 'there' there in the story.
No tinfoil - but some powerful forces seem determined to keep stomping on Gold prices.
All JMHO - ymmv
Last edited:
Hfcomms
EN66iq
I've read most of the downers on gold and even Denninger had a rant on gold today which isn't surprising. The press is down on gold for the most part because of not so subtle instructions from on high imo. Many of the bloggers and so called 'experts' on gold and silver see them only as commodities and not as real money store of value. They will never understand the inherent function of the metals if they see them only as commodities and will certainly never understand them if they only consider the paper market. They rarely if ever comment on the dearth of physical metal available for delivery and almost never cover that people can't even get allocated physical metals that they pay the bullion banks to store for them. They certainly don't learn from history of fiat currency and the role of real money for the past six thousand years of human history. This was an opinion piece today to the contrary....
Silver To Soar A Stunning 400% & Gold $1,500 In 10 Months
With continued uncertainty in the gold and silver markets, today a 56-year market veteran told King World News that silver will advance 400% from current levels and gold will soar $1,500 in less than a year. He also added predictions regarding longer-term price objectives.
Here is what 56-year market veteran Ron Rosen had to say: “The HUI and gold have have had three major buying opportunities since the bull market started roughly 12 years ago. Each one has led to huge profits and we are now at the fourth bottom which will produce the greatest amount of profits since the bull market began.
So we’ve hit the bottom and now we are headed higher, and there is no limit as to how high gold and silver can go from here. Looking back, this will be seen as the greatest opportunity of all if someone has the guts to get in the market now....
“KWN readers have to understand that you only see these types of opportunities every three years or so and they don’t last long. This is the fourth opportunity over a 13-year period, and it’s been like clockwork. Gold and the gold complex have had the purist bull market of any complex I’ve ever seen in my 56 years in this business.
This next leg of the gold bull market will see two important milestones in terms of price. The first move will take gold to $2,800 in the next 12 months. So we are talking about a roughly $1,500 move for gold in a short period of time. The full advance of this particular leg will see gold hit $3,700 in just over two years. This means the price of gold will close to triple during that time frame.
This will be the biggest move in gold. It will be the biggest in term of the price advance and also in terms of the percentage of the advance. So it will be the largest since the bull market started. This move that is coming in gold, contrary to expectations and bearish announcements from Wall Street firms, will be absolutely stunning.”
Rosen had this to say regarding silver: “I call silver a ‘cantankerous metal.’ It follows gold, but it will scare the hell out of you in doing so. Gold won’t scare you but silver will. But even though silver will scare the hell out of people, it will also perform magnificently if you have the guts to hold on to it.
The bottom in silver just took place and it will have a large advance along the same timelines as gold, but the trip in between will be like flying in an airplane and hitting an air pocket. It will take your breath away. Silver should advance to $92 in about 10 months.
So you are talking about a 400% advance in that metal in less than a year. Past that you are looking at a $130 price for silver as gold hits $3,700. This means silver will advance 600% as gold roughly triples in price. So silver will have an enormous move, but it will give you a heart attack because of the way it will trade during that massive advance. Silver will outperform gold, but you will have to be able to stomach the gyrations if you want to take advantage of the massive price rise.”
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/5/22_Silver_To_Soar_A_Stunning_400_%26_Gold_$1,500_In_10_Months.html
The the trillions of dollars of unfunded liabilities and central banks around the world printing debt money fiat paper backed by nothing I can't argue with the premise of the article.
Silver To Soar A Stunning 400% & Gold $1,500 In 10 Months
With continued uncertainty in the gold and silver markets, today a 56-year market veteran told King World News that silver will advance 400% from current levels and gold will soar $1,500 in less than a year. He also added predictions regarding longer-term price objectives.
Here is what 56-year market veteran Ron Rosen had to say: “The HUI and gold have have had three major buying opportunities since the bull market started roughly 12 years ago. Each one has led to huge profits and we are now at the fourth bottom which will produce the greatest amount of profits since the bull market began.
So we’ve hit the bottom and now we are headed higher, and there is no limit as to how high gold and silver can go from here. Looking back, this will be seen as the greatest opportunity of all if someone has the guts to get in the market now....
“KWN readers have to understand that you only see these types of opportunities every three years or so and they don’t last long. This is the fourth opportunity over a 13-year period, and it’s been like clockwork. Gold and the gold complex have had the purist bull market of any complex I’ve ever seen in my 56 years in this business.
This next leg of the gold bull market will see two important milestones in terms of price. The first move will take gold to $2,800 in the next 12 months. So we are talking about a roughly $1,500 move for gold in a short period of time. The full advance of this particular leg will see gold hit $3,700 in just over two years. This means the price of gold will close to triple during that time frame.
This will be the biggest move in gold. It will be the biggest in term of the price advance and also in terms of the percentage of the advance. So it will be the largest since the bull market started. This move that is coming in gold, contrary to expectations and bearish announcements from Wall Street firms, will be absolutely stunning.”
Rosen had this to say regarding silver: “I call silver a ‘cantankerous metal.’ It follows gold, but it will scare the hell out of you in doing so. Gold won’t scare you but silver will. But even though silver will scare the hell out of people, it will also perform magnificently if you have the guts to hold on to it.
The bottom in silver just took place and it will have a large advance along the same timelines as gold, but the trip in between will be like flying in an airplane and hitting an air pocket. It will take your breath away. Silver should advance to $92 in about 10 months.
So you are talking about a 400% advance in that metal in less than a year. Past that you are looking at a $130 price for silver as gold hits $3,700. This means silver will advance 600% as gold roughly triples in price. So silver will have an enormous move, but it will give you a heart attack because of the way it will trade during that massive advance. Silver will outperform gold, but you will have to be able to stomach the gyrations if you want to take advantage of the massive price rise.”
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/5/22_Silver_To_Soar_A_Stunning_400_%26_Gold_$1,500_In_10_Months.html
The the trillions of dollars of unfunded liabilities and central banks around the world printing debt money fiat paper backed by nothing I can't argue with the premise of the article.
They got their hands full today, excusing away this pop up...
Got God, Grub, Guns & Gold?
Panic Early, Beat the Rush!
- Shane
But the spike up got stomped back down pretty quickly - just another fun day in a completely unmanipulated PM market.
Bubble Head
Has No Life - Lives on TB
So how long can they keep stomping on the spike? Somewhere along the line they are going to miss the stomp.
Snipe Hunter
Veteran Member
Untill some country decides they have had enough of the bankers & US governments price fixing & manipulation & starts a war
It can keep going as long as TPTB can convince the markets that rising quantities of fiat paper currency is somehow more valuable than the immutable value
of a precious metal that's been considered real money for thousands of years....and that the continuing INcrease in that fiat paper has no effect or even
an INverse effect on PMs.
Nice trick, and they've gotten away with it - so far.
Those who know far more about such matters have suggested that this Fall (after Sept) may see the PM market improve markedly.
As always, no guarantees, jmho and ymmv...and be careful out there.
. Does the "Don't ask,, Don't tell" rule apply to me?? Got whipsawed pretty good today that my one account hit the "Free ride" rule and I did not want to risk my margin accounts to margin calls. Lost a little over $350.00 plus round trip commissions. Bernanke's testimony and the minutes that were released later in the day seemed to conflict and confuse everybody. It's still my opinion that money is being rotated out of gold and into the markets and NUGT will follow the price of gold. Could be wrong, but this horse is still pulling the load. As the Fed starts to slow the debt buying, I'm betting then the price of gold will rise.
The powers that can move the markets will try to hide their intentions and befuddle and scare the little guys.
The powers that can move the markets will try to hide their intentions and befuddle and scare the little guys.
U.S. Stock Futures
S&P -15.20 / -0.92%
Level 1,640.40
Fair Value 1,653.59
Difference -13.19
Data as of 8:20am ET
Nasdaq -26.50 / -0.88%
Level 2,974.50
Fair Value 2,998.54
Difference -24.04
Data as of 8:20am ET
Dow -113.00 / -0.74%
Level 15,207.00
Data as of 8:20am ET
MARKETS looking to open gap down, NUGT looking to open gap up. Might be a barn burner today. Bad econ news SHOULD drive money into gold. Gold up over $21.00 at this time. 8:50AM.
S&P -15.20 / -0.92%
Level 1,640.40
Fair Value 1,653.59
Difference -13.19
Data as of 8:20am ET
Nasdaq -26.50 / -0.88%
Level 2,974.50
Fair Value 2,998.54
Difference -24.04
Data as of 8:20am ET
Dow -113.00 / -0.74%
Level 15,207.00
Data as of 8:20am ET
MARKETS looking to open gap down, NUGT looking to open gap up. Might be a barn burner today. Bad econ news SHOULD drive money into gold. Gold up over $21.00 at this time. 8:50AM.