Im sitting here watching the ticker tape, gold is dropping a dollar a minute.
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Im sitting here watching the ticker tape, gold is dropping a dollar a minute.
Tough day to be on a trading desk for sure.......I bet the margin calls are taking quite a few people out back of the wood shed today.....
I just quoted 800 lbs of mother boards 3 days ago. my condolences to Mario and the other big buyers.
Yep, it's nasty. I don't often give advice, but if there's one thing I learned trading stocks for 20 years, it's DON'T TRY TO CATCH A FALLING KNIFE!
It's a good way to lose a finger and/or fortune.
Yup.. if you have access to trade Gold on the Exchange.. seems like a great day to be "short"Quote:
Originally Posted by auminer
Looks like shades of the late 70's and early 80's when the Hunt brothers tried to corner the silver market on borrowed money. Too many people trying to play the gold market with borrowed money and futures contracts. another real estate type of bust maybe?
An interesting article about trying to manipulate a metals market.
http://www.rapidtrends.com/hunt-brot...-silver-story/
zakly....
You think that bad. We were planning 6 gaylords possible 12k of boards and 2 55 gal drums full of procs and memory this week, thursday or friday to Mario. I literally just watched the load go down in value about 7500 cash. And I was told that Ewasted price may go down again by the time I get it there Friday. Nothing I can do.....
Inflating things,tends to make them pop.
yep it's all relative.
I for one, can honestly say I think Gold was artificially high for too long.
fell ya there ozzy sitting on my biggest load even and might as well be crap 5k worth of it lost in the time it took me to tear down so now begins the waiting game as I will dump eveyrything into a losing horse and put it down before I lose the race and go home crying even if I have to wait as long as some of these boards have been sitting in peoples basements lol
This is why hording can bite you in the back side. I try to move my product as soon as I can even if I only make a few hundred $$ at a time. I do have some product that I now might have paid a little too much for but it's not that much. I'll just have to lower my prices and I'll recoup in about a month or less. I learned this lesson when I first started scrapping and I saved up over 300lbs of #1 copper and the price went up to 3.15# I held onto it and the next thing I knew the price fell to about 2.50# loss allmost 200.00.
I'm hangin on tomine till the prices bottom out!..:(
I'm staying hopeful that this is just a temporary drop. It might take awhile, but I'm sure it will come back. It's happened before.
On a side note, now is a good time to think about buying bullion while it's low.
Is that beef or chicken,,??Quote:
On a side note, now is a good time to think about buying bullion while it's low.