Rick explains why he thinks short coverings are driving the market
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Best news I’ve heard. More worry… the better.
Gold will continue to climb that wall of worry.
Nothing has changed in 40 years. Only the players.
Who will do the same as all their previous predecessors
did over the last 40 years or more.
Quite entertaining if nothing else.
What has changed is that there are no position limits on short sales in the PM, but there are position limits on the long side. Couple that with the fact that the regulators, the Fed and a few big banks have conspired to cash the PM markets by defrauding the public on a massive scale never before seen in human history.
In short organized crime has orchestrated a completed takeover of the ‘free markets’, banking (on a global scale) and the FOREX which allows the flow of dirty money around the world at the speed of light. It was always there, but never so completely as now. Thus, much has change in the last 40 years, and all to the detriment of free markets and capital formation for start enterprises as envisioned by Adam Smith. More precisely, the ‘system’ went from bent to broke.
Conspiracies, manipulation and any other currupt story regarding central planners
has been part of the gold trade.
So nothing has changed. If it has, its only because a investor has not had 30 years
of experience in the gold trade.
I’ve heard the same arguments for precisely 30 years in live market participation.
So no, not 40 years but 3 decades is long enough. Thats for damn sure.
bj,
To a very large extent you are, of course, correct.
Not according to Mr. Martin Armstrong.
Experience is still the best teacher.
Gold pays no interest and capitol
gains taxes are higher as well.
Gold needs a crisis and rises well
in advance.
Unfortunately AL….way before you
or anyone else can realize it.
I have always known that Heavy.
Well, just checkin Big AL ….
makin sure I see eye to eye
with the boss.
btw…the forums here are
smokin hot today. Need to
keep this up.
EXCELLENT’E !!!!!!!!!!!!!!!
And, some of the players are still around today.
Forty years ago was 1974 as you are aware.
Interesting action in the price of gold subsequent to that time which eventually evolved into significantly lower prices starting in the 80’s.
That was a great commentary guys (Rick, Cory, Al). I really appreciated the viewpoints.
Thanks Bird!
Just got my first PM order for SBT.UN @ TSX filled since early June. This is tough. Unlike last year, the volatility is low and the downside is exhaust very quickly this year.
Short covering is giving some good gains but when the shorts have finally given up and fully covered the market could fall hard on profit taking.
Question for Rick regarding short covering. When you cover a short you have to buy the stock. Is this shown in the volume for that stock? The reason I ask is that the volume is low for PFE but the price has increased quite nicely. Thanks……