re: Gold (took a small short position today on 5/25)

You can buy a 1 kilo bar for $42.5k+:

Tulving

Hell, get 5 or 6 of them while you are at it.

Some people trimmed their gold holdings and re-evaluated their portfolios when chaos broke out in Egypt. They realized they should have more exposure, especially over this weekend. The current jump in price was a result of some of this.

What I'd like to know is when would be a good time to jump in Egypt's stock market? It's down from about 7000 to 5300, and dropping. Of course their currency is dropping too. Finance shows are expecting a big drop Sun.

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I entered heavily into gold today...anything south of 1280 I'll be out

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What do you mean? What did you do exactly?

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What did you do exactly?

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gold Mutual fund and futures.

With GLD you don't get hit with the gold brokers 2-10% profit. With physical gold brokers usually buy at several percent under the spot price and sell at several percent over spot price.

With GLD you are just hit with the transaction costs, which should not be close to the cost when dealing with physical gold.

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With physical gold brokers usually buy at several percent under the spot price and sell at several percent over spot price.

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Right. That's actually the 'transaction cost' I was referring to.

Gold closed out the week at 1473 on the cash market, finally braking out of the trading range it's been in since roughly November. I've made a few additions on my initial position entered in January and will now wait out what I think is going to be a move to the 1700 level in the next 1-2 months. I personally think that 2000 / ounce is not out of the question.

I would imagine so.

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The 8 dollar a trade type firms?

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Why would you not be able to do this?

Hello, I'm curious about what event/events you see that would bring a large correction in PMs after a possible run up to ~ $1700?
I will go out on a limb and give you my take on what is going to happen (about like a coin toss, and not investment advice). Fed stops QE around the end of May or makes an announcement that they will not continue QE past June. After all, they cannot know what the effects of QE have been/will be until they step back from QE. Dollar strengthens, commodities take a hit, equities take a hit, treasuries strengthen, real estate continues to bump along going nowhere. But nothing has been solved from the 2008 melt down so the underlying problems that have been papered over are still in place. Wages remain stagnant, jobs remain stagnant as all the QE works it's way through the economy and shows up as more price increses in items needed to sustain life. Cessation of QE sees enormous amounts of money flow back into treasuries and the dollar is stronger for a time. After QE stops food/fuel, which are conveniently excluded from the CPI, continue to rise in price for some months, so continue to monitor the CRB index. What is missing from this picture? A driver for jobs. So we still have a jobless recovery (an oxymoron). Continue to monitor the per cent of people employed vs the people eligible for employment as this filters out some of the gov approved stats. The housing sector losing value has hit individual's percieved wealth hard and this has helped the CPI official numbers (equiv rent numbers). Meanwhile, real everyday needs have increased in price and is hammering disposable income of those at the low end. What next?
We are Japanese if you please. We are Japanese if you don't please. Not saying the outcome in the US will be identical but it might be similar; in Japan equities crashed followed by real estate crash followed by Japanese version of QE. JCB proceeded with QE and watched as equities gained. JCB stopped QE and watched as equities crashed. JCB resisted QE for about two years and then restarted it. Result? Japan has debt of 200% of GDP and equities and real estate still in the doldrums. Where now brown cow?
Cash now and short dated Ts when interest rates increase; and interest rates will increase when the Fed stops QE. I know, the dollar is taking a beating now but a stop to QE will strengthen it for a time and, not to worry, the Fed will telegraph it's return to QE, after it becomes obvious that the economy is floundering. That will be the time to return to equities and/or commodities. For those holding physical commodities; sit tight and ride it out. The Fed is the economy and there is little sense of fighting them with your dollars. Fighting them politically is another matter.
BTW, these are my honest personal opinions. I assume this forum is here to facilitate an exchange of ideas. If you consider this post to be a 'flame' then you are, in effect, seeking a quorum not a forum.