Tuesday’s thoughts on gold from Gary
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Gary –
You say you do not know how Rick does what he does but you make assumptions about Ricks interpretations of when his hidden pivots are going to be breached and or reached. You point to flaws in other analysis – you should stick to your work, which is also flawed as we have witnessed in your many to da moon calls etc. but always with caveats.
I am sure if Rick had time to listen to your point of view about his methods/analysis, he would have more to say on his own behalf.
Just my opinion.
I’m actually amazed at how accurate Rick is at picking his targets. I’ve just noticed that at intermediate turns his system seems to be designed to assume that once a target is hit then the next will get taken out. At intermediate turns though I think is the point where the system needs to reverse and instead of looking for lower targets it’s time to start looking for higher targets.
Gary this is what I posted on friday june 6 in response to jj’s debate with you.
JJ don’t look so far ahead as it really becomes hypothetical. Your a good chart guy there is no denying but things can swing the other way in seconds. Haven’t we all seen it?
Gold/hui/xau etc has not broken down thus far. There is a reason why i told you to give gary until Tuesday. Maybe my chart can see something yours doesn’t lol. Are we not all here to make money and help one another?
Richard and gary iv’e stated already that I bought 1/3 of a truck load back a week or so ago nailing a good bottom on iamgold at 3.32.. My portfolio is doing quite nice. I really think many will miss this ride. I use all your expertise “gary and doc included” and my charting/experience/intuition and mostly gut feeling to make my final decisions. Im sleeping quite nice as I have the long and trading portfolios working all the time.
I think a great system would be to use cycles to spot the timing band for major turns combined with Ricks system to stay on the trend until it’s time for an intermediate trend change.
I do not want to say much more on this but cycles also fail as we have seen and you can have extended daily cycles and extended cycles……no perfect system, never will be and if there was, one certainly wouldn’t be on a radio show every day (they would be doing more important things like fishing, going for walks etc..get the picture).
As I have poitned out I said next bottom for Gold between June 16th-August 16th, made that call almost 4 months ago (go check archives). Here we are a week away and we will be lower in the coming weeks according to my work.
Regards,
No doubt about it. Cycles fail just like everything else. I was actually giving Rick a compliment. His system is amazingly good at what it’s used for. I’m contemplating having his house bugged so I can discover his secret 🙂
All I’m saying is that I think cycles are a better tool for spotting the major trend changes. His system is excellent for riding the trend once a cycle low or high has been established.
Gary – Rick is great at what he does and from the many years I have listened to the guru’s only Rick gives precise targets and from a trading perspective – this is what is beneficial.
I find that most others provide the follwing types of analysis – “well if XXXXXX asset does not go up, it will go down and we’ll see if we get a bottom and if it fails then we will see but ultimatley we are going much higher because of all the money printing”
Not much thought process for the above analysis.:)
Gary, You have a fan here! I think you out of all the guest followed by doc have been the most accurate for at least two months since my arrival. Had anyone listened to you in the last moth or so they would be up on the miners. I believe you have nailed it my friend.
PG
You seem a bit angry about Gary’s call? We know about you call regarding the long trends (cycle) you are following because you posted it everyday ,sometimes multiple times per day, on your posts. Also calling for the fall of the market.
I agree with your time frame as it coincides with the release of July earnings and a GDP report that I suspect will disappoint. Regardless, Gary is stating his opinion as you are for if either of you were reporting fact on cycles/trends that were that predictable why would you be here instead fishing or going for walks.
Lets hope the turn come soon. I suspect Gary feels strongly on his predictions since as far as I Know he is making a big call here and he has subscribers and a site to consider. I assume he didn’t predict a likely bottom without some serious thought
Lets hope you’re both right.
Goldman
Not angry – you are reading too much into this, I like you and others am stating my opinion. I have never talked about cycles, I follow the facts and certain conditions must be met before the next events can take place. This has never changed and as I have pointed out “it is no tdifferent this time” and I have backed this up with data from over 100 years of market activity.
Chill out and enjoy the show.
Chill out? Lol
You are a funny man.
Have your facts and conditions happened in the past or is this all new theory with your “work”? If they have happened then its a trend/cycle. Of course if your just restating another theory then you really haven’t done any “work ”
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WOW Goldman – you have issues – good luck and I wish you all the best ….LOL
Yeah. That’s it. I have issues. Lol
Why don’t you reference your theory on the market AGAIN for the 100 th time
Everyone is listening
It’s “in the archives” in case you need a reference : )
Major Bradley turn…. Mbtd’s. etc. etc…
Goldman – Give it a break man, you will see Gold bottom within the time frame that I provided and that is my origianl work – time for your meds and the rubber room, really LOL er.
Like I said. I hope you’re right. I expect you and Gary both are.
Now go take a nap. Life Must be tough for you being so cranky and opinionated
Be good
If Gary is right, 12-15 weeks stair step move up from here puts us into Sept. Sept is the best month on average for gold to move up so this should be very interesting. Does the phrase “when it’s too good to be true, it usually is” come across your mind.
More than once DGHH!
The whole tone and tenor of trading made a sea shift last Thursday afternoon, and now that shift is accelerating.
If indeed gold moves back up next 12 weeks , I assume GDX would be a good move..
The Middle East is imploding. The Syrian war has spread out into large parts of Iraq. Mosul, a city of 2 million, is now controlled by Al Qaeda. What has been seen as a Syrian civil war is actually a wider inter-Muslim war of Shiites and Sunnis – who have hated each other for over 1,000 years.
I digress.
The Middle East is going up in flames. In Mosul the bad guys have got their hands on hundreds of millions of dollars worth of US military hardware and can now do serious damage to Assad in Syria and to the whole of Iraq. This could quickly spread to the Gulf States, Jordan, Saudi, Lebanon and Iran. It is a right mess.
These are my thoughts tonight when I think of gold and silver… and perhaps should also be thinking of oil and, if you have such a stomach, also shares in arms companies.
I know none of the above is anything to do with technicals but I think it is going to have a big affect soon on world markets. You know something, Putin was right. He warned us a few years back that opposing Assad, as evil as he is, was preferable to backing the so-called Syrian rebels who were really Al Qaeda Westerner haters. But then, in the mid 1990s, he warned the West about the rise of fundamentalism Islam and most Western leaders and intelligence chiefs just laughed.
Sorry, I digressed again.
The Middle East could be involved in a major war within weeks if not days.
Hi Bob, from what I understand that war has been raging a few years now. Nobody other than Celente and gang have recognised they are connected and the same group right across north Africa to Iraq Afganistan and Pakistan.
Promoted of course by the americans to destabalise the region for whatever reasons their twisted minds imagine.
The intention is a nation from Morroco to Iraq, including Isreal.
Its the extremists guys goal, forget if that’s Sunni or Shiite. The ones that cut your head off for being a woman etc.
RT reported today some gains in Iraq, but peace treaties are being made in Mali, which are the same guys.
Funny, Qatar pays them too. Well,not funny ha ha. But Qatar figures they could build a pipeline thru Syria, like they have a chance of controlling them. That is funny ha ha.
You mention oil, to me, the value of Russian oil should become even more obvious.
I just cant see Europe going too far with the American desire for sanctions on Russia.
You also mention that war spreading to Iran, My guess is we underestimate Iran big time. I think Iran would squash them like a bug.
Shiite Iran might now feel the urge to come to the help of Shiite Iraq which has lost a third of the country and Mosul to Sunni Al Qaeda lot… but if Iran steps in, which is probably likely, then we are going to see further involvement, allegedly, of Saudi Arabia and other Sunni Gulf States… which, once again, would put the US and UK in the position of backing oil-rich Saudi even though, allegedly, Saudi is backing the Sunnis fighting in Syria and who have supposedly taken Mosul. What a mess eh – all down to religion… and, worse, down to two sects of the same religion arguing over which one of them is the ‘true’ chosen sect.
Sorry to go on about this here – I am not one of those ZH types. Honest. I just think that this is relevant to the conversation about gold prices. In the Ukraine reason and MAD seems to be winning out and both sides appear to be backing down… but there is simply no reasoning with some of the religious nutjobs in the Middle East.
Gold may go up a bit more,
but then in a couple of weeks, it will go down again,
and drop to around 122x 😉
I’ve seen this before. Technical Analysis is predicting lower prices. Rick’s ability using hidden pivots/targets are as good as it gets for low risk entries. But, even he would say today on the hourly chart, (GCQ4) is impulsive by looking to the left on the breakdown from the coil. And by using his “camouflage” method one could look for an entry long on a smaller time frame chart. But his downside hp/targets would still be active until the “C” coordinate is taken out.
There are many good traders that are short and even more that are on the sidelines because of TA. The dealers are aware of this…….stranding the small specs at the doc before takeoff gives them a warped sense of pleasure. The degenerates know they have made it very difficult for a seasoned trader to pull the trigger here to go long.
Gary has made a NICE call here with limited risk…….for big profits. All is well.
Thanks Gary…has the volume met your expectation…ex. NUGT