OASIS FORUM Post by the Golden Rule. GoldTent Oasis is not responsible for content or accuracy of posts. DYODD.

Re Gold

Posted by Mr.Copper @ 16:15 on August 11, 2020  

I just got back from Costco. This is quite a nice dip start for people that were patient and waiting to buy in. Too bad for the people that procrastinated, and waited too long to pile in late and buy the highs.

My newsletter once described those people of having a secret unconscious desire to lose. They want in, but keep waiting and putting it off buying, until they are convinced its a bull market, finally plow in and succeed to “get it” good and hard. They are probably one selling out at a loss.

Could we be seeing people panic short buying?? Falling all over each other to borrow shares and sell them?? If we get a quick rebound? Those people (that like to get beat up)  will lose money fast and buy to cover their losses and create a short covering rally.

Some people just do NOT belong in our sand box. But the derivatives makes it possible.

This is why it’s important to have IRA accounts and have them approved for options trades

Posted by eeos @ 16:12 on August 11, 2020  

I look at options as insurance. You have to be careful with them but I’ve saved my a$$ hugely with them in the past

OUCH!! OMG!

Posted by diamondhead @ 16:10 on August 11, 2020  

I guess we all saw this coming, but man! Did anyone take some off the table last week? I don’t know why, I seem to have a mental block when it comes to selling… I hate to say it… maybe its just greed.   I was looking WPM and thinking “its 57, I should sell it, but I didn’t. Even the physical… when it was way down over the years… I would tell myself, “when, or if, it ever hits $2000, I am selling some… but did I? No!              I sure hope I don’t have to wait nine more long years…sigh!                        I hope everyone is ok. I celebrate 21 years of sobriety today! ALOHA!!             ps, we have yet to see a $100 up day, but we can now say we’ve seen over $100 down!

redneckokie1 @ 14:11 re Scruffy lived in Arkansas. Not Maddog from UK. Thank You.

Posted by Mr.Copper @ 15:59 on August 11, 2020  

I wonder what happened to good ole pup Scruffy. Woof Woof I used to call him.

Talk About Taking A Dump

Posted by commish @ 15:04 on August 11, 2020  

t24_gold_en_usoz_home_262_130

Buygold @ 14:47

Posted by ipso facto @ 15:02 on August 11, 2020  

Yep thank your stars we don’t buy gold or silver futures! The PM shares are volatile enough.

Buygold @14:47

Posted by Samb @ 15:01 on August 11, 2020  

No doubt that we have the overbought taken out. But, it’s a three step dance ya know. The second step is to get to oversold and the third step is to finally to take that out. We are not even close yet, imo.  Franco Nevada FNV is a lead indicator….not even close enough to open the cigar humidor as yet.

Maddog @ 14:29

Posted by ipso facto @ 15:00 on August 11, 2020  

Sure wish we’d taken that path here. A little bit of a gamble but it worked out well.

Gut check

Posted by Buygold @ 14:47 on August 11, 2020  

Is this the beginning of the late 70-80’s type volatility?

Pretty crazy move in silver but gold too. Play the futures and get crushed.

All overbought conditions have been relieved.
Now we see.

This is the scum making sure Nothing rivals the SM.

Posted by Maddog @ 14:39 on August 11, 2020  

This is what happens if u stray off the ‘bidden’ path.

Gold is just back testing it’s 10 year top of $1923.70

Posted by silverngold @ 14:30 on August 11, 2020  

We might fool around here for a bit but once the smoke clears, away we go again. IMO!

Bat Clap is over in Sweden a doctors view….

Posted by Maddog @ 14:29 on August 11, 2020  

This behind a paywall…so I have posted the whole thing…

I want to preface this article by stating that it is entirely anecdotal and based on my experience working as a doctor in the emergency room of one of the big hospitals in Stockholm, and on living as a citizen in Sweden. As many people know, Sweden is perhaps the country that has taken the most relaxed attitude towards the Covid pandemic. Unlike other countries, Sweden never went into complete lockdown. Non-essential businesses have remained open, people have continued to go to cafés and restaurants, children have remained in school, and very few people have bothered with face masks in public.

Covid hit Stockholm like a storm in mid-March. One day I was seeing people with appendicitis and kidney stones, the normal things you see in the emergency room. The next day all those patients were gone and the only thing coming into the hospital was Covid. Practically everyone who was tested had Covid, regardless of their presenting symptoms. People came in with a nosebleed and they had Covid. They came in with stomach pain and they had Covid.

Then, after a few months, all the Covid patients disappeared. It is now four months since the start of the pandemic, and I haven’t seen a single Covid patient in over a month. When I do test someone because they have a cough or a fever, the test invariably comes back negative. At the peak three months back, a hundred people were dying a day of Covid in Sweden, a country with a population of ten million. We are now down to around five people dying per day in the whole country, and that number continues to drop. Since people generally die around three weeks after infection, that suggests virtually no one is now being infected. If we assume around 0.5 per cent of those infected die (which I think is very generous, more on that later) that means three weeks back 1,000 people were getting infected per day in the whole country, which works out to a daily risk per person of getting infected of 1 in 10,000. And remember, the risk of dying is at the very most 1 in 200 if you actually do get infected. And that was three weeks ago. Basically, Covid is in all practical senses over and done with in Sweden. After four months.

In total Covid has killed under 6,000 people in a country of ten million. A country with an annual death rate of around 100,000 people. That makes Covid a mere blip in terms of its effect on mortality.

That is why it is nonsensical to compare Covid to other major pandemics, like the 1918 pandemic that killed tens of millions of people. Covid will never even come close to those numbers. And yet many countries have shut down their entire economies, stopped children going to school, and made large portions of their population unemployed in order to deal with this disease.

The media have been proclaiming that only a small percentage of the population have antibodies, and therefore it is impossible that herd immunity has developed. Well, if herd immunity hasn’t developed, where are all the sick people? Why has the rate of infection dropped so precipitously? Considering that most people in Sweden are leading their lives normally now, not socially distancing, not wearing masks, there should still be high rates of infection.

The reason we test for antibodies is because it is easy and cheap. Antibodies are in fact not the body’s main defence against virus infections. T-cells are. But T-cells are harder to measure than antibodies, so we don’t really do it clinically. It is quite possible to have T-cells that are specific for Covid and thereby make you immune to the disease, without having any antibodies. Personally, I think this is what has happened. Everybody who works in the emergency room where I work has had the antibody test. Very few actually have antibodies. This is in spite of being exposed to huge numbers of infected people, including at the beginning of the pandemic, before we realised how widespread Covid was, and when no one was wearing protective equipment.

I am not denying that Covid is awful for the people who do get really sick or for the families of the people who die, just as it is awful for the families of people who die of cancer, influenza, or an opioid overdose. But the size of the response in most of the world (not including Sweden) has been totally disproportionate to the size of the threat.

Sweden ripped the metaphorical band-aid off quickly and got the epidemic over and done with in a short amount of time, while the rest of the world has chosen to try to peel the band-aid off slowly. At present that means Sweden has one of the highest total death rates in the world. But Covid is over in Sweden. People have gone back to their normal lives and barely anyone is getting infected anymore. I am willing to bet that the countries that have shut down completely will see rates spike when they open up. If that is the case, then there won’t have been any point in shutting down in the first place, because all those countries are going to end up with the same number of dead at the end of the day anyway. Shutting down completely in order to decrease the total number of deaths only makes sense if you are willing to stay shut down until a vaccine is available. That could take years. No country is willing to wait that long.

Covid has at present killed less than 6,000 in Sweden. It is very unlikely that the number of dead will go above 7,000. In an average year 700 people die of influenza in Sweden. Does that mean Covid is ten times worse than influenza? No, because influenza has been around for centuries while Covid is completely new. In an average influenza year most people already have some level of immunity because they’ve been infected with a similar strain previously, or because they’re vaccinated. So it is quite possible, or in fact likely, that the case fatality rate for Covid is the same as for influenza, or only slightly higher, and that the entire difference we have seen is due to the complete lack of any immunity in the population at the start of this pandemic.

This conclusion makes sense of the Swedish fatality numbers – if we’ve reached a point where there is hardly any active infection going on anymore in Sweden, in spite of the fact that there is barely any social distancing happening, then that suggests at least 50 per cent of the population has been infected already and has developed immunity, which is five million people. This number is perfectly reasonable if we assume a reproductive number for the virus of two: If each person infects two new people within a five day period, and you start out with just one infected person in the country, then you will reach a point where several million are infected in just four months. If only 6,000 are dead out of five million infected, that works out to a case fatality rate of 0.12 per cent, roughly the same as regular old influenza, which no one is the least bit frightened of, and which we don’t shut down our societies for.

Silver sellers at $29.12.

Posted by redneckokie1 @ 14:11 on August 11, 2020  

I thought $29.12 might hold silver for a while. Good support at around $25.60 and then $24.00. They have to take profit somewhere.

Scruffy lived in Arkansas.

rno

Bills got a problem

Posted by Maddog @ 14:09 on August 11, 2020  

Summer flu has killed 5 times as many people as Bat Clap last week…928 vs 193…….in the UK.

Cretins are in Ludicrous Mode

Posted by ipso facto @ 14:04 on August 11, 2020  

Trying for a $100 down day.

Mr.Copper

Posted by Maddog @ 14:03 on August 11, 2020  

Scruffy was a poster on GE and here….he got the Big C after retiring and moving to I think Arizona, to play golf and travel……last I saw was him saying he might have the Big C beat…but nothing more was heard…so I guess he lost out….

the scum are the Fed/JPM/GS etc.

Cheers

nothing like freefall

Posted by eeos @ 13:10 on August 11, 2020  

just like the machines all ran the other direction at once, but no collusion involved. It’s just normal market forces at work

Maddog- yep

Posted by Buygold @ 13:10 on August 11, 2020  

No covering in the Crimex in the last hour, especially for silver.

Just hoping this correction will be short and violent.

Never know with pm’s.

We should know when the shares stop falling.

We’re in a scum Lockdown for PM’s

Posted by Maddog @ 13:01 on August 11, 2020  

Gold has dropped $ 90 today, in a straight line…any normal mkt would have had a decent bounce or 3 by now….we have just spent the last 4 hrs plus in a $ 18 range of the low….that just ain’t normal.

All Crimex now

Posted by Buygold @ 12:33 on August 11, 2020  

London did their job to provide cover for New York.

Will be interesting to see if the Crimex crooks decide to cover some positions here in the last hour NY is open.

Bought a little Alexco @ $2.66 and added some Wallbridge at $.68 earlier this am.

I’m probably early on both.

@Maddog, Looks Like They Woke Up :)

Posted by Mr.Copper @ 12:23 on August 11, 2020  

Were you at one time years ago, called yourself Scruffy? Or something like that? To me the scum are the ETF buyers, futures buyers, the algo computer trades etc. They buy and sell mostly nothing physical , just “voting” hunches and opinions, of the future price.  So in reality, the “opinions” make the price, until the “wrong” price gets so removed from reality, the trend changes.

In other words, the betters ran, or voted the Gold price up too high too soon, re over $2,000/oz. as they clicked away. Unfortunately, the Physical buyers have to PAY that price at the dealer. Same when its too low.

Treefrog @10:24

Posted by Samb @ 12:15 on August 11, 2020  

Many are counted as Covid deaths that are really from heart attacks, cancer, stroke and even motor vehicle accidents. So, I think that the numbers as provided are actually on the high side.

Luongo: Trump Won Re-Election This Weekend

Posted by ipso facto @ 11:58 on August 11, 2020  

Authored by Tom Luongo via Gold, Goats, ‘n Guns blog,

Trump Destroys Abusive Democrats In Stimulus Showdown
President Trump won re-election this weekend with his four executive orders.

We haven’t even reached the DNC convention in Milwaukee and it looks to me like this election season is over.

I know the polls keep trying to convince me that Joe Biden, most likely suffering from dementia, is leading President Trump but I just don’t buy it.

https://www.zerohedge.com/political/luongo-trump-won-re-election-weekend

I guess I should have bot those damn puts

Posted by eeos @ 11:56 on August 11, 2020  

$%&@@*@!! It’d be cool to be able to buy back my SLW cheaper than $40 where I sold part of my position a couple of months ago. I was too aggressive in my sell mentality and didn’t think it could go so big

This move knocked GLD out of overbought

Posted by Buygold @ 10:52 on August 11, 2020  

SLV still has an RSI around 68

Volume isn’t huge on either. HUI RSI in the 40’s now.

We’ll see how deeply oversold they’re going to try to take this.

« Newer PostsOlder Posts »
Go to Top

Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.