|
PureBytes Links
Trading Reference Links
|
I follow no one but myself. I listen to others to get the prevailing opinion and psychology of the market. Lets see, my
commodity account is up over 75% this year so far and that is not on a small account. Others do better but I'm satisfied.
Bob Doeden
===========================================================
ramon p slupsky wrote:
> do you follow marty armstrong of the princeton economic institute? If not let me know and I'll write you direct about what
> he says about gold. I value his outlook. PEI manages about 2.5 TRILLION in assets.
>
> ramon
>
> Robert Doeden wrote:
>
> > ------------------------------------------------------------------------
> >
> > Subject: Re: Wednesday's market action
> > Date: Wed, 29 Oct 1997 17:54:35 -0600
> > From: Robert Doeden <bdoeden@xxxxxxxxxxxx>
> > Organization: MindSpring Enterprises, Inc
> > To: Greatelto@xxxxxxx
> > References: <971029104742_396579238@xxxxxxxxxxxxxxxxxxxx>
> >
> > Re: my gold comment. I trade futures because it is a fast way to make a lot of
> > money. I've personally gone from very little to a lot by buying that which no
> > one wants. Tell me of something that most want less than gold. I can't think
> > of an investment that is further out of favor. So I buy a couple of contracts
> > and watch the action. If I'm wrong and have to sell I lose maybe $3,000 max.
> > These days my accounts go up or down 25-50,000 every day. So $3,000 doesn't
> > amount to much. But if my feel starts to look Ok I add some more contracts. On
> > a move back into the 330's I will make $15,000 on a small 10 lot position.
> > That is worth the risk. Sometimes I'm right, sometimes wrong. But I don't see
> > many sure things and you have to take a chance. I find that there is a lot less
> > risk buying that which no one wants than that which everyone wants because of
> > the obvious. The sentiment of those which want something badly can change on a
> > dime and then you are looking at air pockets. I don't believe in that momentum
> > bs where you buy something because its doubled and there will be another fool
> > around the corner. I do believe in looking for that which no one wants and then
> > waiting until it shows signs of life. My weakness is that I'm usually early and
> > that is why I start with a small position and add later.
> >
> > By now I've put you to sleep so I'll quit.
> >
> > Bob Doeden
> >
> > Greatelto@xxxxxxx wrote:
> >
> > > Bob Doeden wrote....
> > >
> > > >I hope no one is fooled by the action of the market today.
> > > It was completely programed by the financial powers who run
> > > this country and executed by CNBC.<
> > >
> > > You have got to be kidding!!
> > >
> > > > At the very least I'm going to wait to
> > > see if there is a test of the low. If I'm wrong and this
> > > keeps going I'll miss a few points but I would rather be
> > > safe than sorry.<
> > >
> > > Should be part of the normal course of events.
> > >
> > > >Saw a metals analyst from one of the major
> > > firms (maybe Morgan Stanley, not sure) who talked in favor
> > > of gold yesterday. He basically said the current price is
> > > below the average cost of production so there should be a
> > > spate of mergers among the producers and a shutdown of high
> > > cost mines which will reduce the supply<
> > >
> > > Why not buy a low cost producer? It should be noted that the Swiss now want
> > > to sell gold. Who is next?
> > >
> > > Jerry
|