Gary’s cycles tell him that gold will reverse very shortly.
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Al, you have lost your confidence.Precious metal stocks are the lowest they have ever been based on metal prices. The time to buy is when people are running to church and and I am sure the churchs are overflowing
Well it certainly is not a Bear Trap here with Gold, it had its chance to produce a quick upsurge past $1272 to produce a classis Bear Trap.
Big trading money uses technical, “IF” gold does head towards $1180 that’s a Triple bottom in play, closing below that level will not only have longs liquidate but new shorts piling in….$1180 is a very, very key trading/action/reaction level
Be curious to see what you think of what Rick said, Original
Not going below 1180 naturaly. Does that mean were going to 1180 with this cycle low?
That would be a retest of Dec lows I think.
Lets hope it stays natural.
Yes, let’s do hope it stays natural. The question to me: “is that going to happen?”
Those evil manipulators at it again in gold, next level just under $1240 is coming into play…one support zone at a time is falling….June 2013 repeat??
Have a look for yourself
http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=1&mn=1&dy=0&id=p23402635848&a=352292553&listNum=1
Doesn’t do me much good jj, I don’t see what you guys do.
yes you do bb, its like those paintings with the hidden face in them once you see it, you’ll always see it.
probly a good description, but why do so many people see d ifferant faces?
Very few traders can remove their opinion/ego from what they think they see on the charts, no different then getting 10 economic anal’ysts together you’ll get 5 suggesting the economy is getting better and 5 suggesting its declining….all from the same data
Human nature is flawed to a T
Agree. Listened to Warren Buffett many time. He is very opinionated. He even hold his loosers for years. Human nature.
makes sense jj.
Yep, bb, we have to learn more about charting/technicals I guess!
CFS, excellent video as it talks about Gold, Silver and the best looking chart $PALL
http://allstarcharts.com/fox-business-gold-silver-palladium/
YES ALLLLLL DAY original ! https://www.youtube.com/watch?v=qS7nqwGt4-I
Franky,
Interesting that 5.3 million people watched that. Is that perhaps a comment on society?
Thanks Original,
I did watch it.
Big Al, your guest Peter Brandt looking great with his Silver call
So far Original although ag and au seem to be coming back a bit at this time.
Where’s bo polny?
No clue
What is a bo polny?
Love is when Al says the conventional markets aren’t doing well they are only up 60 points or so
Not sure just what numbers you are looking at cheche.
Looks like Gary’s blow off top stock market call a month ago combined with capitulation in gold is likely happening. fwiw
btw those of you trading NUGT are playing with fire. those 3x ETFs cannot be used for useful technical analysis and are merely gambling anyways.
Tenyear, Life is a gamble, I could get hit by a meteor while sun bathing beside my pool in my fav thong
Sold… I’m getting long NUGT on margin. Lmao. And I’m laying at the pool trading today.
Don’t boys day will tax your pool and pool water ! https://www.youtube.com/watch?v=E_1UN0AnAaU
If they consider it to be your place of business!
Here is a tip, best way to dry your thong is to use a salad spinner, prevents shrinkage from the dryer, enjoy!!
You got a pool AND a Dali in that cardboard box? How big is the box?
Thanks Joseph, that is a good one!
Comet not likely, but use of theralase for more probable carcinoma is possible.
jj, you sound like a Brit in speedos.
You calling me a Pub Pastry!
No, I’m not…. I just prefer wearing a Banana hammock…..fully clothed while trading though, just in case you were wondering. lol
I have an order for TSX PHS.U Sprott Physical Silver Trust. This order has been there for nearly half year. My order is 7.47 and the low now is 7.54. This fund refuses to follow COMEX. It is tough to buy this guy.
People holding this fund must be real silver believers.
Al this sight has been the most useless information and almost always wrong with your Gold and Silver and Stock predictions. Again more bullshit from KORELIN ECONOMICS REPORT…..Gold is not sold physically just a bunch of infinite paper contracts…..it will still be being manipulated until EVERYONE stops buying the paper contracts….of course the govt is one of the customers so that won`t happen until the govt collapses
Which is pretty much never going to happen. I hear flea markets make a killing though. All cash.
The Reo indicator! This guy pops up near every low to remind everyone what he thinks about this site. Like clockwork, when Reo just can’t take it anymore, the market turns.
Funny…you may just be right though!
Hey Bird!
I had a weekend biz in a flea market here in Florida and had to start using card swipe for charges. About 75 percent of my sales were charges/debits at that time. Since I am in a brick and mortar location now approx 90 percent of my sales are charges/debits. Only 10 percent CASH! I read your entry regarding going to a cashless society on one of the other articles. I have to agree with you.
Regards,
Jody D
Very cool Jody. This cashless thing is amazing. It’s just beep, beep, beep on your phone to the next guy by text and you are done. The cash is in his phone quick as a wink and he collects by going into the cell company agents office. But nobody really does. The money just recycles. So he turns around and spends it the same way. Your account goes up and down like a wallet and since virtually everything can be paid by text now your phone is basically your bank account. No cards, no swiping, no waiting. Just beep, beep, beep. One day all of us will be on this system. The only thing you need to know about the recipient of the payment is his or her phone number and that’s it.
Most people would disagree with you.
Naturally.
Hi guys,
What keeps in my gold stocks are the following:
1) Quality (growth without dilutive financings, proven management, track record)
2) Future prospects of the global financial system. I believe that THEY know that the days of the current system are numbered and are positioning themselves. The MSM portrayal of gold is nothing more than a smoke and mirrors show. In the long run the debt problem will come home to roost with devastating force. It seems inconceivable that it wouldn’t. Could be years though.
3) Most of all what keeps me in gold is the belief the paper market will eventually become irrelevant.
4) Hope dies last…
Why is the POG unable to recover in the face of all the bullish fundamentals which are constantly being touted? Is it not simply that supply IS IN FACT meeting demand? Now; we hear that global demand is exceeding mine supply, and everyone but Europeans and North Americans are scooping up gold.
Where is the supply coming from, then? The best answer appears to be that stolen gold is being supplied into the market. As the Bloomberger said, the gold shelves are bare. The German and Austrian gold can be assumed to have vanished along with other entities’ gold. The owners are not allowed to audit their own holdings, because “there isn’t enough space” in the building for visitors. This was actually one of the reasons for turning down the German request. The gold is gone, I say…
All this will eventually come out in the wash – when is anyone’s guess. This is why I’m still in gold stuff.
Something else: I have a small truckload of money coming my way in the way of an inheritance this summer and am struggling with a decision as to what to do with it. If prices plunge into the summer, I might get more gold stuff. There is always real estate, but Alberta has seen large price increases over the last couple of years and such booms have been followed by busts over the years.
Thoughts?
Hi Peter. Alberta seems to have large crowd of hard asset people including me. I guess people here have common sense. That might be why we are doing well even oil was low. We have little financial bubble economy here.I am glad I bought several houses and rental units here during the years.
Lawrence,
We Albertans have to be hardy on account of our brutal, interminal ever-lengthening winters. The ’80s and ’90s were a miserable time in Alberta. We had a “lost generation” then and I sure hope those kinds of days don’t ever return.
If you dont have enough paper ‘currency” to keep yourself afloat for say…six months or more…I would suggest you keep a nice stack available for that. That way you wont be forced to sell your gold or physical assets in case the market tries to wear you out and/or this vicious bear market last a lot longer than we could possibly think. Having no cushion is sorta like holding our PM’s on margin – which might force us to sell some when we absolutely dont want to. Prepare for a long-haul and hope for the best.
I agree good advice !
Your back!….
On May 29, 2014 at 2:07 pm,
original jj says:
San Diego Marc, you and I our on the same bus and I understand where your coming from and what your ultimate goal is converting gold gains into real estate assets, hey fantastic!
You stay on the Long Bus and I’m sure buy the dips, again to each their own. I’m getting on and off the bus depending on its direction, if its heading up I’m long, if its heading down I’m short.
We both have the same goals, just a different approach.
Armstrong has a target zone for $5000+ gold….eventually!
I have no clue where gold is headed opinion wise so I follow the trend in play on the charts, if gold is going to $1180 again producing a triple bottom great, if its going to test $1000, great or a complete 50% retracement off the 2011 high around $960, super…..heck if Rick A is correct and silver does trade much lower than what I see on my chart below $13 then $750-$800 gold is possible.
I make money on the way down and you going to buy even more oz for your money at ???? $$$$ whatever THE low happens to be.
From 2000-t0-2011 gold was a pure currency trade against the US$, the next big swing will be as Armstrong suggests a position against global idiotic governments, a lose of confidence in the powers at be…..its coming, just not yet and that’s not based on my opinion its based on what Mr Market prices gold today.
I spend a month every year in Carmel and plan on visiting San Diego one day, perhaps we can meet for a beer, I’ll buy, lol
Good Luck!
You quoting yourself again?
yes I learned how to copy and paste from Matthew, lol
You’re welcome, jj. Btw, what was Marty’s advice when I was getting ready for a quick doubling of my entire mining portfolio? I can’t remember 😉
On December 20, 2013 at 12:13 pm,
Matthew says:
I have to agree with Doc’s assessment. Any further downside right now will be brief.
I was a buyer today and got some orders filled in 11 miners.
Good luck to you Matthew….time will tell
Time has already told as my miners jumped an average of nearly 100% in Q1. (Position weighting and trading played a large role.)
I sold some gold recently at $1314 but I will be a buyer of select juniors next week.
So you two are related or something? Brothers? Evil Matthew and good Matthew maybe? I mean, who the hell quotes himself? Nobody does that.
I have been known to Bird. Pass the Idaho red!
Man, I need a drink and I will join you. Course I usually just talk to myself!
Marc, I agree with you. There is nothing worse than getting caught in your own personal liquidity squeeze. My plan has been for a long time, to use gains from the PM arena to into real estate, because it can generate cash flow on a monthly basis, which gold doesn’t. Still waiting. I will split the money and leave some as cash just to have ammo when needed and opportunity arises.
Just one thought – get an experienced and well qualified investment advisor unless you feel you can handle it yourself.
Hi Al,
Thanks for the thought, but I’ve never had an advisor, and I don’t intend to start now.
You might want to take this graphic into consideration, Peter:
http://4.bp.blogspot.com/-ByjscwMlC8Q/U4Yq_7AoirI/AAAAAAAAFfA/hKdaQKGBcuU/s1600/World3.jpg
I’m not saying it’s gospel. But it’s not so far-fetched either. Did everyone notice the massive writedown of the Monterey shale oil formation?
It was in this article at theburningplatform.com:
http://www.theburningplatform.com/2014/05/29/review-age-of-limits-2014/
Russia has been pulling back its troops from the Ukraine border this week. Is this the real reason why gold is falling?
Is it now falling to where it would have gone a few months ago if the Ukraine crisis had not started?
I personally think that the situation in Ukraine did/does play a role.
Lot of opinions out there. The daily opinions are important to me personally because I find the gyrations in the au markets to be interesting and certainly related to events both financial and political around the world.
Gary you will be well remembered for your call today, regardless of outcome. I hope you’re right.
He certainly will Proudcanuck.
As Doc said, “they both could be right” referring to both Gary’s and Rick’s comments.
I know everyone prepared for 1000 or even 900 Gold, but what about $15. Silver?
You are talking about 2006 level. Money supply is up 5 folds and cost is up several folds as well. Can producers accept this price and loose 35% for every once they produce? Possible but it is needed in all electonics and solar.
I guess if we really do deflate then crude will be falling quite a bit. Mine costs will decline. Workers will strike until mines close and then reopen without unions. Transport declines too as does equipment, chemicals and rents. Same as last depression.
Great update on todays action from Dan Norcini
http://www.traderdannorcini.blogspot.ca/2014/05/silver-loses-19-level-gold-has-few.html
jj have you covered 1/4 yet? HUI hanging above 200 and now is turned green for the close.. Just curious.
what a 180 degree turn today for miner!
For the miners or for gold itself?
Thanks for replying Big Al… gold is down but miners refuses to follow… yes?
Same with the ETF I want. Damn, it refuses to come down.
Yes, kind of but not really.
Interesting that Gold closed above Gary’s low target of 1251
Miners appear to have bounced a little bit – didn’t Gary say that miners might be the first indicator of an upswing?
“Using history as a guide, the gold/silver ratio could increase to around 90 on the developing contraction”
http://biiwii.com/wordpress/wp-content/uploads/2014/05/pe4.pdf
PIVOTAL EVENTS – MAY 22, 2014
INSTITUTIONAL ADVIS
The GDXJ/GDX/NUGT did an outside reversal? I’m thinking the miners are signalling a move off the bottom before the actual metals. Nice strong close.
The Markets TURNED? I guess I missed it..gold is back up to 1900 or 2000 where the gold bugs on this site have been calling for..hmm goin on 4 years….KEEP GUESSING BOYS your accuracy is AMAZING….
I prefer to call it wishful thinking that might turn out to be accurate. I will repeat again, I do not own gold in the hope is making a profit. There sre too many other ways to make a profit#
GOOD NEWS COCAINE IS GOOD FOR GDP ! http://www.bloomberg.com/news/2014-05-22/cocaine-sales-to-boost-italian-gdp-in-boon-for-budget.html