Avi focuses on the precious metals as a preview to the weekend show
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This segment was recorded yesterday. We will be having Avi back on the the weekend show to expand his thoughts on the markets.
These were some very interesting thoughts from Avi, and it makes sense. If gold does not bounce here on Friday, but does go down very soon and break through 1130, then it would be limited below that ($10-$20) and then PMs would rally very strongly and bring some renewed interest into the sector. He goes on to make the case that when everyone jumps on the bandwagon, then Gold would turn around an put in the major bottom.
So it sounds like whether we are putting in a short term bottom in PMs here in the 1244-1155 range, or whether we go down to break 1130 and put in new lows that there will be a nice counter-trend move and then the major lows will be put in.
If we do go down past 1130, I’d go in around $1065.
Sorry, that last sentence got a cut and pasted wrong after the comma. It should say:
“if we do go down past 1130, I’d make my first tier around $1111 because that’s cosmic : – ). In all seriousness, I’d look for for $1110-1112 as the short term bottom If that failed I’d go in around $1065.
Cory/Al,
Thanks for this interview. Useful to get Avi’s updated thoughts.
FWIW, I have some seriously itchy fingers today…
I keep thinking that if we have a snap on gold on the back of FOMC… then maybe some newsflow surrounding Greece will bring it right back up – hence making Avi’s eeeeeeeeeeevil scenario materializing. Fwiw as well, my thoughts just proves that I guess I read to many headline news 🙂 🙂 🙂
GL to all investing/trading, and thanks again Cory/Al for the interview follow-up
LPG
Can one of the Youtube experts post an Austin Powers Dr. Evil Laugh video?
Franky, where are ya buddy? We need a Dr. Evil clip.
YESSSSSS!!!! Dr Evil and the evil laugh. Fantistico!
Thanks Matthew, you made my day.
lol !
I thought about this as well Shad 🙂
Best,
LPG
Sorry, that last sentence got a cut and pasted wrong after the comma. It should say:
“if we do go down past 1130, I’d make my first tier around $1111 because that’s cosmic : – ). In all seriousness, I’d look for for $1110-1112 as the short term bottom If that failed I’d go in around $1065.
Cosmic…haha. I liked that. Hey Shad there is a total solar eclipse in parts of Europe on Friday. Keep your head down that day!
Funny Birdman : – )
Hey, I was being half serious. 🙂 Friday the 20th is also a New Moon. It is the Spring Equinox which means that the moon reaches lunar perigee, the closest point to earth during the year. So parts of Europe gets a total eclipse of the Sun the same day that spring arrives and during a New Moon.
Just to follow up a little. Here is quote from an article I linked. The coincidence of the three events I mentioned is unusually rare. “The equinox has long been celebrated as a time of beginning and renewal, by a number of historic cultures, and is linked to Easter and Passover”……but does it signify anything?
Well, we shall see soon enough. Only two days to go (for renewal that is).
Solar Eclipse, Supermoon and Spring Equinox.
3 Rare Celestial Events to Coincide on Friday 3/20/15
http://www.conspiracyclub.co/2015/03/17/solar-eclipse-supermoon-and-spring-equinox-3-rare-celestial-events-to-coincide-on-friday-32015/
Well I agree for thousands of years people of most cultures put a huge importance on Spring arriving and the Spring Equinox. That is a big part of what St. Patricks day and the pagan roots of the Easter celebration really signify is the coming of Sping. The March Hare is the Easter Bunny. Ishtar (Easter) used to be associtated with Queen Semiramis.
In other lands, she was called Eostre, Astarte, Ostera, and Eastre. Other names for Semiramis, the Mother Goddess include: Wife of Baal, Ashtaroth or Ashtoreth, and Queen of Heaven. The Mother goddess was frequently worshipped as the goddess of fertility – and as a sort of Mother Nature and goddess of Spring and sexual love and birth. She was also worshipped as a mediator between god and man.
The rabbit is well known as a sexual symbol of fertility. In various parts of the world, religions which developed from Babel also associate the rabbit with periodicity, both human and lunar (Egypt, China, etc.). As you may remember, the Mother Goddess Semiramis (Easter) is associated with the Moon. In other words, the Easter bunny symbolizes the Mother Goddess. Annual Spring time fertility rituals are associated worship of the Mother Goddess and Tammuz, the reincarnation of her husband Nimrod.
“The egg was a sacred symbol among the Babylonians. They believed an old fable about an egg of wondrous size which was supposed to have fallen from heaven into the Euphrates River. From this marvelous egg – according to the ancient story – the Goddess Astarte (Easter) [Semiramis], was hatched. And so the egg came to symbolize the Goddess Easter.”
The idea of a mystic egg spread from Babylon to many parts of the world.[12] In Rome, the mystic egg preceded processions in honor of the Mother Goddess Roman. The egg was part of the sacred ceremonies of the Mysteries of Bacchus. The Druids used the egg as their sacred emblem. In Northern Europe, China and Japan the eggs were colored for their sacred festivals.
The egg was also a symbol of fertility; Semiramis (Easter) was the goddess of Fertility. The Easter egg is a symbol of the pagan Mother Goddess, and it even bears one of her names.
So if we have a Supermoon near Easter and the Spring Equinox then we are right on course.
I’m in the mood for love after that post. Better go talk to my gal about it because I can’t let that day go by without a little romance.
A wise decision, and it is called Spring Fever….. many animals in my neighborhood are in the same mood.
Fwiw,
Looks like we are going to have a double reversal on the loonie today.
Best,
LPG
Yup, I have been waiting for this. If the Loonie turns up we should see many commodities also on the rise again. And that means a decline in US stock markets could be imminent.
For the record, I don’t think the Loonie has hit its final lows.
The chatter on commodities including gold will no doubt begin to pick up as this bottoming process in resources takes place. Here is another guys view on the CRB Index arriving at the 2009 lows. Six years plus was a long time back in market terms and it is worth considering that a potential bottom in commods is a signal to exit general equities. I won’t make that call but it is interesting that we appear to be topping in stock markets just as we are hitting long term lows in commodities and its probably foolish to ignore that kind of information.
Commodity Crash Points To A Bottom — From Short Side of Long
http://shortsideoflong.com/2015/03/commodity-crash-points-to-a-bottom/