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Down Under Randoms


  • Gold looks like it may test $400 later today, especially the last hour on Comex.

  • Some people will do anything!

  • At 11am N.Y. time, Gold 200DMA currently sits at $402, 50DMA at $400, the 200- hourly comes in at 406.45, and the 200 - 15 minute comes in at $407, the 5 minute is at $407.25

  • Greenspan acknowledges that Social Security and Medicare are big funding issues going forward, but has no answers. An aging population expecting comfortable retirements funded by a shrinking tax base. This will be huge in coming years.

  • Make up your own mind

  • The Argentine Central Bank gold purchase is BIG news, yet not mentioned in any mainstream press I have seen. Russia is also mumbling about reserve diversification. Others are sure to follow, IMO.

  • Oil sub $40 is on the cards and I think IF it does get there it will be a short lived visit.

  • Prof Fleckenstein ended his Bloomberg interview with a great line that I can't quite remember (sorry mate)... did anyone catch it properly, as I certainly related to what it was, but for the life of me I can't remember exactly.

  • Who needs a dietician?

  • Any sport that isn't decided by a definitive score, measure or time shouldn't be in the Olympics.

  • Golden Star Resources (GSS:AMEX) short position dropped from 14 million shares to about 3 million in a week or so.

  • The USA-Australia women's basketball gold medal game will be huge tomorrow and I reckon Aussies by 3. Seriously.

  • Am off to the Hunter Valley. 3 hours north-west from Sydney. Wine and Horse country and am attending stallion parades at Coolmore and Woodlands. Nice, and for those that care.

  • Gold below $400 looks likely heading into the last hour. The physical market is closed for a few days and physical buyers should be happy on Monday.

  • Silver is hanging tough around the $6.60 level and I would've thought may have been sub $6.50 mimicking the gold move.

  • Be careful of the Friday final hour on Comex.
position in gold, silver, gss

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