Have we seen a double bottom in the U.S. dollar?
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Gary; Seriously dude. You can point out a double bottom in the $USD but can’t see the blatantly obvious double bottom in gold?
There was no conviction after that double bottom was hit though. When gold stalled out below 1400 in March a lot of us had to reconsider our positions. Even I had been feeling bullish up until that point. Much more likely is we get a retest of the 1200 lows now.
What a load of nonsense. The double bottom is in. Once again I point out that every technical indicator is currently pointing up. Stochastics, relative strength, MACD and the current gold price is trending higher. Higher prices will continue!
Time will tell if it is nonsense or it is right, JTC.
Yes Gary. A double bottom in the dollar. The dollar is a buy right now. Glad to see you have finally come around to joining my camp. The Euro should continue to fall as remarks from the ECB’s Mario Draghi strengthen the markets belief that he will indeed introduce QE soon.
Euro down against dollar after Draghi remarks… Investing.com
http://www.nasdaq.com/article/forex-euro-down-against-dollar-after-draghi-remarks-cm343908
From that article….
“A strengthening of the exchange rate requires further monetary stimulus. That is an important dimension for our price stability,” said Mr Draghi. The comments came at a news conference on Saturday, during meetings of the International Monetary Fund.
Personally I would be very surprised if this lifts gold. On the contrary it is going to act like a sedative on buyers at least for the interim because it has introduced the possibility that gold is not the slam-dunk bet some are anticipating.
Didn’t you go long the Dow last Wednesday and you said you had a 1% stop loss? So when you got stopped out on Friday when the stock market plunged even though you had a 1% loss I thought I heard you say you made a small profit on that trade.
How do you make a small profit if your 1% loss get hit? Did anyone else notice that or is just me?
Maybe I didn’t hear you correctly.
Maybe you missed it. When Eric/Hal/B asked that same question on Wednesday I said I had moved my stop up to break even. By the time the Q’s had given back half of Wednesday gains on Thursday I went ahead and took profits and got out with a marginal gain.
Here is the exact quote from Wed. comment section.
“I’m saying we have strong hand status after yesterdays rally and we can now move our stop up to break even and not worry about a meaningless wiggle knocking us out of the trade.
If the market reverses all of yesterdays rally then I’m going to be wrong about a daily cycle low occurring on Tuesday and we will stop out at break even. No harm no foul.
If I’m right and Thursday was a daily cycle bottom then we now have a brand new 35-40 day cycle ahead of us. And if I right about a final bubble phase this trade will turn into a huge winner over the next 2 months.”
Check Friday’s discussion: http://www.kereport.com/2014/04/11/week-comments-gary/
Discussion start pretty at the beginning of the page with:
‘Eric says:
Cool from “decent profit” to “small profit” to “marginal little profit”. LMFAO. 🙂
Your broker must be a happy camper.’
Short version:
Gary made a profit of 0.01% and calls it a decent one! That guy can’t be beaten! 🙂
The dollar getting stronger seems doubtful. Maybe a very short term manipulation but overall I think this puppy is falling. Inflation is the big F5 tornado across the field moving towards the US Economy house. Grandma Yellen baking cookies in the ground shelter
Yellen already shorted into a weak economy. Oh, she can’t do it again? Gary, what are you talking about?
Yellen is not Bernanke. Yellen is a 5’3” midget and doesn’t know how to manipulate the markets. She’s too frigging stupid.
Not that I understand anything special, but I think if people wanted gold due to Ukraine it would be shooting higher.
We have seen events that “should” have caused gold to rise in the past and it dropped.
So, to me it looks like the fed and cartels are still in complete control.
My money, with doc,gary,bird.
Wouldn’t be the first time Ive taken “lumps” lol
WE NO HAVE FREE MARKETS MAN ! I AGREE WHIT YOU ! GOLD IS MUCH TO LOW SOO BUY !
If it weren’t for Cory I wouldn’t listen to that Gary Savage aka Toby Connor crap any more. Hard to listen to that guy.
ha ha !
Biden………..is just going on a vacation………..
Question Gary………….
DO YOU follow the 250 YEAR CYCLE.?
As far as I know no one lives for 250 years so I’m not sure why there would be a 250 year cycle.
Thanks for the reply……You might want to figure out what it is , and how it applies,,,because it does apply. I is a cycle……and since you like cycles I thought you could apply to your thoughts…….short term………respectfully,,,,,,,,,,,,,,,jerry
“I”….sould be It……, plus I left out …it…..”you could apply it to”…..sorry.
Take it away GARY ! YOU FRIND BIL AL ! https://www.youtube.com/watch?v=Qy-Y3HJNU_s