Cover that 152 GLD short yet cypher?

this thread was started 3/13

Bitcoin  5.40

Gold 1690.


today 6/5

Bitcoin 5.40   (even)

Gold 1618  (down ~4%)

BTC is almost up!!! (3 months after the call  )  Gold still hasn't collapsed.  BTC is slightly outperforming gold.


AAPL 562  (just a few more days)

GLD 157 (cypher is upside down on his short)

Changing the rules/terms to suit your position? Bankertician

Use caution or a new thread might be created, making this one irrelevant

General Comment: USDX: now @ 82.90.  Had trended down to sub-82.5, but shot up recently.

Another Score:  6/05/12
          year ago    now       delta mult
BTC     17.50        5.43      + 0.31
Gold    1545         1617      + 1.05

--------------------------
ref (for future updates):
http://bitcoincharts.com/charts/mtgoxUSD#czsg2011-06-01zeg2011-06-03ztgSzm1g10zm2g25zv  (change date)
http://www.kitco.com/charts/livegold.html  (hist cgi at bottom)
mult=now/year_ago

day           ya-btc  btc  mult    ya-Au  Au    mult
2012-06-05 17.50  5.43  0.31   1545  1617  1.05
2012-06-01  8.80  5.25  0.60    1542  1614  1.05
2012-05-25  7.30  5.15  0.71    1528  1574  1.03
2012-05-24  7.10  5.14  0.72    1514  1558  1.03
2012-05-23  7.10  5.13  0.72    1515  1562  1.03
2012-05-22  6.30  5.09  0.81    1512  1560  1.03
2012-05-21  5.90  5.10  0.86    1514  1590  1.05
2012-05-18  7.50  5.12  0.68    1497  1592  1.06    
2012-05-17  7.80  5.09  0.65    1480  1574  1.06            
2012-05-16  7.40  5.09  0.69    1495  1533  1.03
2012-05-15  6.80  5.03  0.74    1492  1545  1.04
2012-05-14  8.50  5.00  0.59    1495  1555  1.04
2012-05-12  5.40  4.95  0.92    1505  1580  1.05
2012-05-11  5.00  4.95  0.99    1505  1580  1.05
2012-05-10  3.82  4.90  1.28    1510  1593  1.05
2012-05-09  3.75  5.03  1.34    1510  1590  1.05
2012-05-08  3.64  5.03  1.38    1497  1605  1.07

what updates?

well excuse me for having to maintain strict accounting with the likes of you.  as i recall, you claimed you did alot of hedging with puts last summer when gold and silver took the initial dive.  but that's ok?

nice try on trying to make me look bad.

you're a piece of work.  those aren't my updates, they're silverbox's who freely admits he cherry picks.

so what's your point?  if it's that i lost money in the short term shorting GLD, wrong, b/c of the GDXJ long hedge.  

none of this changes my bearish position on gold, either.  pm's have had a nice counter trend bounce after which i'm betting they go down.  ok, so?

and your initial point was that hedging was somehow not playing by the rules.  what rules?  this is a forum.  you're lucky i've even bothered to share what i'm doing.  or perhaps i should be opaque like you?  and you in fact did buy puts on pm's last summer.  don't make me go back and find the quote.

edit:   maybe we ought to tally up silverbox's score on his gold miners and point to that as some sort of evidence?

The only point I was making is that comparing a single position with an aggregate holding is misleading. You responded to silverbox's update on GLD with a GLD/GDXJ combination (in response to whether you covered or not, which is all well and good - but you are upside down with GLD alone) - not a valid comparison without noting the disparity. A system with integrated graphics could be compared to one with a discrete GPU, but it wouldn't be meaningful without noting the contextual distinction.

Yes I'm splitting hairs here a bit over a semantic issue, but I'm glad you had a hedge in place. I'd be even more glad for you if you had physical metal

If you left the hedge on, you could've at least done well with the spread when the miners rise faster than gold

Jim Rickards says it best.


Once you start pulling the derivative thread, the whole illusory system comes unraveled...

Invest some of your bitcoin on GLBSE, then you can buy more without breaching 10k.

in the same vane, what are u guys doing with your bank savings accts that exceed the maximum covered by the FDIC?  i think the coverage limits are going to be taken down later this year, IIRC.