Gary’s Wednesday Take on Gold
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Very accurate observation from Gary of the repeated failed take-downs attempts on gold.
It’s been about 3 weeks that these attempts fail… ball park since the last bottom on gold.
Very encouraging price action, IMHO.
Best to all.
Both spike highs and spike lows are a regular occurrence that is easily verifiable by looking at any chart. Go ahead….look at one now to satisfy your interest if you are not aware of it. Gary’s idea is interesting and adds spice to the drama but it lacks a real foundation. He is speculating for the listeners who want to hear something optimistic along the lines of “the manipulators are getting worn down and failing in their efforts to crush gold”. The funniest part was when he suggested that a White Night is waiting in the wings to force the manipulators to take losses. Good grief.
Bird, has anyone been more accurate? You perhaps?
Some times yes. Many times actually…… but usually on the down side. Nobody hands out Brownie prizes on this site for guys betting against gold. We are all considered traitors.
People here are smarter than the average bear so I think that if logic pointed in that direction they would.
Gotta tell you Bird, again I think that we are all a lot smarter than that!
lol very true
Gary’s absolutely right about the “White Night(sic)”. It’s “Knight” by the way, but I digress. Gary stole the idea from me after I’d been pointing out for nearly two months how the “Backstop Boyz” ( my name for them ) have been showing up ever since late December last year to stop the “smash jobs” of the CrimNakes. It’s a titanic war going on, no doubt, and the ebb-and-flow are still extant. The a-b-c correction is still unfolding here, with the “b”-wave now nearly complete with a 5th-wave failure forming here in the final phase of the “b”-wave. Next will come the “c”-wave and a target of $1224, along with the anguish and heartbreak of the bulls. But then it really WILL be “over”.
Yes of course…it is indeed Knights….spellcheck does that automatically.
I don’t think this game will be over soon.
MAD,
It ain’t going to happen. The yearly cycle low is confirmed and coil reversals don’t reverse again.
Dallas I guess you answered my question from previous. I asked if you if this was still a “B” wave. Now you have confirmed that it is and your still on board. Are you currently shorting? or have you taken any profits off table?
Thanks
White Night or White Knight?
And to you, LPG!
Gary, I think it is more than 1 white knight, because there are multiple purchases, not a single purchase.
Whereas the knockdown is a single big block.
Potential for takedown will exist until option expiry on Friday.
Probably correct. Maybe several buyers.
Yeah….must be collusion eh Gary?
Thanks Gary………….sounds good to me……………
THANKS ………….GARY S………
Why couldn’t it be 1 purchaser? If someone dumps 5000 contracts at once it, would not make sense for the buyer to likewise buy 5000 contracts at once. The buyer would buy in smaller increments to prevent the price from rocketing right back to where it was before. They want to buy it back at the lower price for as long as they can.
That is certainly an interesting point, Ken!
Thats how the manipulator has made out OK on this in the past. Sell a huge order to knock it down, then buy it back over a longer timespan so the price doesn’t rise. But now somebody else is buying it back quicker. The manipulator is making less or possibly losing money.
SGE definitely interesting….
Metalor Technologies, a Switzerland based company specialising in metallurgy and management of precious metals, will officially open its Singapore gold refinery in Singapore on the 26th of June.
Speaking at the LBMA Singapore Market Forum, Chairman of Metalor Technologies, Scott Morrison outlined the key rationale for investment in the refinery as having a lack of globally-oriented LBMA good delivery refinery in S.E Asia, a large deficit in gold supply in the region and having a strategic location here between the wold’s two largest gold consuming countries, China and India.
The new Metalor Singapore facility has been operational since May this year, occupying 2,600 square metres of the Jurong Industrial area and will be able to refine two tonnes of 999.9 kilo bars per week.
The refined gold bars will be able to support the physically delivery of the newly-launched SGX gold kilobar contract announced at the forum today.
During the first two segments of the immediately upcoming weekend show, Bron reports from that conference. Very interesting to me!
GO WHITE KNIGHTS! Beat those manipulators!
Come on Sooze…he is just making stuff up!
Gary, last night’s attack was 5000 contracts. Don’t you feel that if “they” are desperate enough that the next time could be 10000, or 100000 contracts until “they” get what they want. What’s a few million if the next time could be 10’s of million profit.
One can bet bigger and bigger but that means your losses are bigger and bigger.
kinda like roulette when I lose i have the bad habit of doubling down on the next one. Good grief! Good thing I hit the casino once a year if that.
Since Franky is absent….Here’s to absent friends, he would have posted this, I’m sure.
https://www.youtube.com/watch?v=Otw4D-rAnOw
What happened to “Franky”? He cinch the chin-strap on his tin-foil hat too tight and cut off the last bit of circulation to his brain?
MAN….Franky knows more about the gold market than you could learn
in several life times.
Not that you care but he hasn’t gotten taken in by Elliott Wave snake oil.
Unlike yourself.
You’re “Franky”s Mother, too? Aren’t you just toooooooooo precious? And busy, I might add.
No, but I’m still your Big Daddy.
Maybe consider a new handle.
“Man”…is not the word for you.
How about. …WeaselBehindARock.
This is fun….nothin like a…… Whippin Boy.
All the useless gutless cowardly characteristics.
Lot of people swear by it!
You may be selling him a bit short!
Gotta love spiders!
I love your humble diplomacy Al 😉 much appreciated (especially in a world of me me im right listen to meeee lol)
Many thanks Jay. That crowd always looses and so do those who listen and believe them!
Why does the option to take gold down only exist till Friday? Options expirary? How would that affect it – powers that be taking out all the prices that people have options on?
Historically dealers with big money in the market optimize their profits by manipulating the market so that many options expire worthless. This happens most months.
Currently the dealers have sold more call options than put options, so they profit if the price is manipulated downwards. If they have sold more put options than call options the price would be manipulated upwards. If we are not close to expiry dates dealer have little motive to manipulate.
On the other hand the Federal Reserve tries to maintain the price of the dollar, which is inverse to gold price. There are times when the Fed sees a breakout upwards in gold, when it will intervene and drive the price down. This is usually done by selling physical gold.
Thanks CFS. So the next 48 hours should be interesting. We could see another try to smash the price down and will then be able to see what the buy response is.
Gary previously stated there was no manipulation in the gold price. There is always manipulation in just about every commodity and the Fed is involved through its agent banks.
I think Gary said manipulation is irrelevant to his cycle theory, not no manipulation, but I could be wrong.
I’ve always said there is short term manipulation, especially around options expiration and FOMC meetings.
What I said was previous to 2013 I didn’t see any evidence of long term manipulation. It just looked like a normal bull market from 2002 to 2013, with normal corrective moves.
In 2013 something changed. At that point there was clear evidence of manipulation as an artificial bear market in gold was created. In a natural bear market supply would come back into the market. A bear market = too much supply and too little demand. That’s not what happened though. During the bear last year huge amounts of physical where taken off the market. A clear sign that price was artificially lower than it should have been.
Ya…and who took all that physical off the market.
YOURS TRUELY……JIM ROGERS
Next time you think you are listening to a sheep …baaa..baaaa
But under all that sheeps clothing is a …WOLF.
Jimmy would love to buy more cheap gold.
Oh no…golds going down. Uh huh
Heard the minions to sell or stay out.
Right now I don’t care…wheat is a major buy
GOLD IS GOING TO…….EXPLODE !!!!!!!!!!!!!!!!!!!!!!!!
Larry Edelson is right on target…..he knows his business too.
Like Rick Rule…..but I see everyone has a short memory.
Anyone who goes against Rick in resources is a real
PINHEAD. They keep doing it though.
Short short memories !!!!!! They hear him but listen to their
own failed analysis.
You going to his conference in Vancouver later in July?
We will be there along with Doc.
Big Al…..if gold hits 2000 in late July we can have the
2000 GOLD EVENT…right there in Vancouver.
Only thing missing would be the native girls.
Anyway, back to business seriously soon I plan
on pluggin in at least $100K into junior start ups.
Like True Gold and some of your sponsors as an
example. Hold them for 5 years. Stick them in a
drawer and don’t want to know what their trading
for. If things go the way I think 100 times on that
investment. Might even do $200K as greedy as I
am. Thats $20M. just to top things off on what I
will make from the rest of my holdings.
THATS THE PLAN…..
My interests right now is gearing up for the 100 to 1
play. My knowledge regarding these small juniors is
bad. But probably will subcribe to these experts you
know in that field. Brett and Eric I believe.
Cook and Coffin have pretty good track records.
Thanks Big AL….
Gotta get busy finding the best explorers out there or mini juniors.
A few new subscriptions will be something I must do. I have no
idea or expertise making those decisions. That field is highly specialized.
Reason why money is lost buying these companies investors must
pay for the best analyst’s to avoid the pitfalls. Thats what I’m doing avoiding
any pitfalls. Otherwise, its very dangerous investing and foolish.
So your waiting before putting in more $ ?
I find that rather funny…
…its exactly what I…bird…& original jj have said all along !!!!
Yet you took us all to task for those comments ?
Talk about the pot calling the kettle black…ha ha ha !!!
I’m all in. These start ups juniors have a long ways to go and
some are less now than Dec. 2013.
My juniors like New Gold and SWC for example are up substantially.
GDXJ …….I have no more buying to do. Never waited for nothing.
Now I’m eyeing the cheap start ups.
Also for your information. …..
I would never be so foolish as to listen to you or anyone else
on this board. This is amateur hour here proven over and over
again.
Yep…each of us has to go with our own gut feel & risk tolerance.
We’re all going to make money on gold…its only the timing that separates some of us.
Cheers.
Skeeta. …..cheers ?..?
You called me a …pot
Just so you know I’m not black either.
But I do have a ghetto mentality.
Because I am being nice to you right now
Remember that for next time.
Cheers and be cooooool.
The dollar is now making it’s fifth attempt to close below the June fifth pivot (the intraday low after the ECB cut rates and went to negative deposit rates.