Gary Savage is back and we are chatting gold and oil
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GARY you called it right……………TA can not be used in a manipulated market..
Jerry,
Are you and Gary one and the same!
and Mr. A. says you a good TA can get it right 100% of the time…I can’t figure that ouit
Sorry Seabhac, I don’t understand your comment. Please help me out.
Just a short time ago…. Ackerman stated and I quote
“A good technical analyst can get it right (and these were his words”100% of the time” Period
At the time I left a comment on the blog
Thanks.
I have to say that he has been pretty accurate. Don’t you think so?
Paul Coghlan of Coghlan Capital would say that you can use technical analysis in any market and he does.
I was going to say that he uses Andrews pitchfork analysis and Trident analysis with the ABCD and Point P stuff as does Rick. His calls are often superb as are Ricks, partly because they are sometimes based on the same principles I guess. Rick’s fantastic gold call of 1250.50 (that actually went to 1251 [only 50 cents out on a $100+ negative move 😉 ]
Perhaps manipulation can simply only move the price up and down to predetermined support or resistance that is already ordained by the general buying and selling pressures in the market.
I also get a little fed up with the manipulation guys when they kept saying that manipulation can only change the short term moves and cannot alter the secular bull trend. Then as the bull trend became a bear, i.e. once the major trend was changed from up to down they blamed it all on manipulation again, completely contrary to what they had been saying for 10 years!
Gary,
How low do we go on this daily cycle low? 1280? 1240?
Besides cycles what other indicator are you following closely for a turn on gold/miners when we do hit that cycle/ Do you prefer the weekly or daily chart?
Thanks
hope you get better
Cycles aren’t any good for picking targets. I just watch for a swing that occurs int the timing band for the cycle low. Where ever it occurs that’s the buy signal.
Gary,
Wishing you a prompt recovery after your knee operation.
All the best.
YES GARY A GOOD RECOVERY MAN ! SONE YOU WILL !!!!!!!!! https://www.youtube.com/watch?v=87sbQ7wAmVM
Speedy recovery Gary. I am sure you know that when you start PT it’s “no pain, no gain”. Be tough………..
Watch silver. That’s the key.
Silver will lead this game up. It is going critical, in supply, I believe, this month.
Beginning to get evidence China is the buyer.
I always believed that silver would drag gold higher. These next two months are critical for silver. And somebody is buying boatloads of it. It could be China and Russia, even the rest of the BRIC countries.
Check out the silver which CHINA did on a lend lease…….and now wants it back…..article I think was at zerohedge….., about a month ago?
because China is energy dependent, they have embarked on a massive solar generation effort. they will consume all over ground known stockpiles and, in theory, about two times world production annually for the next 11 years.
That is only achievable by driving up the price so that large amounts of scrap become available. Here comes grandma’s sterling silver, but how high will the price have to go to get out the amount of scrap needed? I really don’t know.
But if the dollar goes down a bit, which I believe is probable, then 3 digit silver is possible within a few years. The fundamentals, in no way shape or form predict lower silver prices and only chartists and morons would sell at the current price, making brokers happy, but losing in the long run.
Very interesting point, Professor
BUY SILVER.
Completely agree re: silver.
I’m in Sonoma now, out of the 101% humidity of Indiana. Gorgeous weather here.
Go to the grocery store on the corner of the square in Healdsburg and have a great glass of red!
You forget, I have not enough sight to drive, and using Public transport, I never imbibe. (Unless on sleeper trains, cruise ships etc. on a multi-day journey.)
At least you haven’t cut it out completely>
Seriously Professor, stay safe.
DITTO….SILVER IS BY FAR, THE CHEAPEST, BEST VALUE PLAY FOR PROFIT IN THIS DECADE…I know, I know the admiral E. Sprott says that……I BELIEVE IT!! MY BIGGEST HOLDING….PHYSICAL SILVER….they can have SOME of it for TRIPLE DIGITS.
Ok, on our way to $1224 later this month. As I predicted, and was right ( yet again ) the NFP number this morning was perhaps the BIGGEST “Big Lie” to come out of D.C. in years, maybe ever. This was necessary to get the Dollar Index back over 80 and maybe, just maybe, make a run up close to 81. That will bait THAT trap. Also, as I predicted, the Dow is now over 17,000 and they’ll probably levitate it there long enough for the S&P to t/f 2000, making for great “big figure” psychology. Hold on, everybody, just a little more pain and then comes the pleasure.
I believe the employment statistics approximately accurate, however, the way in which they are presented is devious. The way the press picks up a stupid headline number just show that : a )the press has a bias towards the democratic party, and
b) They are not true economists/just plain stupid.
Pamela on BNN this morning was glowing with the news of 280k + jobs. She tempered her enthusiasm a little by the end of the show.
All jobs are not the same. e.g. If you increase part-time jobs by 500K and lose 220K full-time jobs, you still get 280K new jobs, but it may not represent a good expanding economy.
Yep, yep and definitely yep!
MAN….here’s my predictions.
If we don’t get to 1224 even your peanut butter and jelly sandwiches
WON’T SAVE YOU.
Maybe some other narrative because this one’s gettin old.
Copy and paste..copy and paste
Wash, rinse…repeat. Give it a rest…..BOY !!!!!!!!!
many chartists live in the short term. That’s their choice; nothing wrong with that. They’re making a few bucks along the way.
The lazy way is to take a few years fundamental approach, and enjoy smelling the roses and quaffing the odd flagon along the route, in moderation, of course. Less strain on the nerves, giving one a longer life in which to enjoy the bounty of one’s investments.
Thanks for the bit of sanity, Professor
Actually, Mario Draghi was speaking early today MAD and the Euro dropped as he spoke while the dollar rose. I am not sure if the jobs report played such a big role as the currency traders were all focused on the ECB.
Very important not to shake consumer confidence, Dallas!
Gary will make a speedy recovery.
Oh..no……he’s no daisy. …….he’s no daisy at all.
ya, speedy recovery Gary.
Take it easy Gary – let your body heal after the surgery and for it to get used to your new knee. No pain, no gain is a load of boll*x – be good to yourself.
Sometimes it is a bit of boil*x, Bob!
Best wishes for a full knee recovery Gary.
Knee rehab can be a b!tch to go through (been there done that)…but its important to follow it through to completion to regain full mobility.
…in the meantime soak it up & order other family members to go play fetch for you.
Cheers.
battle at 1322………….