How the ECB announcement and the jobs number play into the markets
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JJ I hope if Gary nails this, lets say by tuesday the latest, you are the first poster to applaud his efforts lol.. You’ve been hard on him :(.
By the way how are those shorts doing? You have been shorting these past few days and these markets can move fairly quickly. Hui will move quick on the next move. Im ready either way.. Happy trading.
glenfidish, I’ll have no problem patting Gary on the back when what he suggests unfolds, he did call THE top back March 17th…I didn’t start shorting the sector till $1355 off that $1392 high.
I’ve added to my short position 4 times since and I’m very flexable to take my short position profits if overhead resistance is taken out by a close
HUI moves quick either way. I still find it odd that Rick A, Gary or Doc regardless of looking for lower gold at different times Gary from $1370+ level etc that none of them trade the short side and make money on the way down?
Certainly not putting their money behind their technical, or cycle opinions, are they?
Are you sure?
Nothing has changed. Just like I said yesterday and today, the bottom should come either Thursday evening or Friday morning.
Got it!
Looking forward to do an editorial with you perhaps Thursday p.m.?
Hoping you are on early on Friday with a report. Early for the east coasters is like noon. Birdman gets reports 3 days later
Mr. Goldman,
Look for us to be up and running no later that 10:30 eastern.
You kidding? I am up with the birds watching the premarket, Europe and Asia while you all sleep. I am ready to sleep by the time NY opens (because us bats need naps sometimes!)
Shhhhh…you’ll wake them all up.
If the ECB prints on Thursday we could see the Dollar rise against the Euro and that would surely see both gold and silver go down lower could it not?
It’s too late in the cycle for the euro to fall and the dollar to rise. It’s already priced in. They should do the opposite of what common sense tells you will happen. The same should happen in stocks. A good employment report is already priced in. So stocks should drop.
I’ll bow to your greater knowledge Gary. Looks like an interesting 48 hours to come both in PMs and in general stocks.
Interesting is probably an understatement, Bob. I put a lot more into the ECB announcement than I do in the U.S. employment report.
You know Gary, in this wonderful and logical world, I am not so sure!
Actually I agree with that assessment Gary. A lot has already been priced in by those who jumped to the front of the line. That is exactly how everyone else loses money by trying to get onto a trade that is already ending by the time they catch on to what is happening. I am getting prepared for the Euro to bounce now and the dollar to drop. As usual…..we shall see if I get punished for going with my instincts……until tomorrow boys!
Gut level feelings can be very important.
ECB easing has been getting baked into the Euro cake for the last three months, if not longer. The only people selling the Euro tomorrow will be the co-managers of the Antarctica Hedge Fund.
The rates in Canada are still falling this tells me that the bankers are losing control. Remember what happened in 1929 when the bankers pulled away their money and the market died, this time it will only be different in that the bankers will lose control from trying to sustain the endgame by perpetual money printing. Markets can’t be controlled but the crash that is coming will be caused by too much money printing instead of too little to late. The lesson here is you can’t make the market suit your conditions.
No, Machine Gun, you cannot make the market suite your particular conditions. (A free and effective market that is.)
Canada’s economy is slowing going down the drain. Here in Montreal things have come to a standstill. Houses are not moving, empty retail space, and mounting job losses. If oil goes down, you can kiss whatever is left of Canada’s economy goodbye. We certainly live in interesting times.
Yes we certainly do Chris!
I second that chris! Im in toronto and at this point in time no one is willing to sell there home because simple logic would have them paying much higher prices which they rather not. Majority or average citizen is up to there head in debt. I see it, hear about it and it’s all around me. People simply trying to cut here and there to sustain. It’s painful to see friends and family in that situation. Most people are using there credit cards/credit lines and re-mortgaging and using up there equity. Everyone was on the bandwagon while home prices were falling in the us, people were buying and buying up in canada. The canadian economy and more specifically the housing economy in canada is in a bubble from what i see. A few higher ticks in rates would kill 75-80% of people. It’s going to happen sooner or later. History always repeats itself.
Global Debt defaults will be the spark that ignites, not money printing, IMNSHO
Great and true point (in my opinion) Mr. Original!
Probably the biggest worry all right jj. That and the domino effect.
Yes, and those handy-dandy debt defaults will really get rolling as we move into 2nd-3rd quarter of 2015.
The deleveraging that must take place to correct malinvestments cannot be stopped. It will come to fruition either through acceptance or market and mother natures conquest.
One way or the other we get the defaults in the end because the unsolvable feedback loop of insolvency ensures these events are channeled to its rightful point. Strong boughts of inflation and deflation will be present, but in the end all you can hope for is you have a large enough rainy day fund/wealth still intact so you can start over.
From the Vancouver Investment Conference:
https://www.youtube.com/watch?v=8aDQgBjo9oM
Ed Steer.
jj one thing is for sure, global economys are all intertwined. Its not only getting expensive to live in North america but all around the world. EVeryone is printing at an alarming pace.
The chairman of the SGE, Xu Luodo, said on May 15, 2014, at the Fourth Commercial Bank Gold Investment Forum, that China net imported 1540 tonnes in 2013 and his exchange has nearly8000 institutional investors and 5 million individual investors. This explains very well where all the SGE withdrawals end up as explain on Jay Taylor’s show two weeks ago.. I haven’t come across any Western mainstream media outlet that reported on these statements from Xu, though numerous Chinese media have covered it.
Come on out Mr. Bond you’ve been outed.
Good thing or bad thing in your opinion Professor?
A bottom in gold? We have had a bottom in gold with a few bumps ever since the early 1990s. If the price of metals in terms of above ground bullion and or bullion coin is at the world economy divided by ounces of real metal then the price is at or near par. If below it is a bargain and if above keep an eye on the situation or take a profit if appropriate.
We are no where near being at par or 100 cents on the dollar for either metal and both metals are grossly under priced. The only way existing metal prices could be legit is if the economy, quantity of the official currencies and the value of other assets imploded and were sucked into a black hole. That has not happened yet and it will likely take armageddon and the end of life on earth as we know it to bring that about.
Hi-Ho Silver. Away!
Goldbugs. Here we go, boys, Here we go!
does look nice for a change………..
we’ll see what happens at open………….
Aren’t you just a ray of sunshine CFS, death, doom and gloom…..lol
Do you drink your finest champagne 1907 Heidseick while posting, lol
Its all about the close, the first tiny bullish step for gold is a close above $1252 and silver $19.05
If the US$ closes above 81.00 then 81.50 is the next resistance zone.
Well we’ll see what Mr Market does as to determine adding to my short positions as strength fades or not
Here’s my tip for today,jj, which matches your angelic image…..HALO
And, of course, what do angels bring? JOY
I was hoping for a pop in the HUI towards 211 or GDX 23.00 before adding to my short the miners position, but their limp!
Shit! Gary I bought a really big truck, what happened in 2 days that cooled your approach from Thurs load up the truck with gold the bottoms in?