Watch for the volatility in the conventional markets to pick up
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In my opinion Heavy, not quite yet.
Not quite yet? Big AL
Regarding the gold bear, it is dead.
Regarding this correction I agree not
quite yet but very limited downside now.
My indicator don’t lie. I do, but not my
indicator. …ha..haaaa..
There is a clear down trend unless you turn the charts upside down. It is headed to 1200 and after that it bounces up sharply or down sharply.
After this much damage when the turn comes it will be anything but explosive. It will be very timid and take time to gain momentum.
The June low there was plenty of damage and we rallied nicely.
If it is anemic …fine.
We will all find out by the holidays. Fair enough.
Doc, The dow/gold ratio closed at 13.71 today, just barely over your 13.65-13.70 range. Should the ratio continue to rise it should signal new highs in the conventional markets? If there is a significant “correction” coming the ratio should begin a big decline for that triple top. The ratio must be at a significant inflection point right now, correct? (Remember, you got me started with this ratio, haha, thanks.) The next few days should be interesting. 😉
Yes, Mike, we’re at that inflection point for that ratio. It could go either way and it could be the conventional market as a catalyst or gold continuing to be hammered or a combination of the 2. We’ll know for sure by the end of September.
off-topic, but very relevant to US society.
Her father must be so proud!
????
I don’t see the proof? I see you have an indicator, but where’s the proof.
Making things uppercase doesn’t make it true.
Keep repeating THE GOLD BEAR IS DEAD doesn’t make it so.
Keep at it though HH – we’ll get there!
The proof is there the gold equities lead gold down
3 years ago well before gold peaked.
Now we have the equities leading gold up by a wide
margin.
THATS IS PROOF!!!!!! Solid sworn evidence by Mr. Market.
Don’t ignore the facts. The truth should not enrage you but
give great confidence that gold is going higher.
My indicator has nothing to do with the evidence
regarding gold equities.
Unfortunately I can’t share that analysis on a public
forum. Thats entirely seperate from the gold equities
proof.
Buy the biggest IPO ever in the next 2 weeks and that will give you a few years worth of gold stock gains in a few weeks or months.
I don’t buy it. Or buy it.
Keep your stock tips.
If you had followed gopro when I mentioned it in the 30’s you would be at $69 today in less than 2 months. Loco is the next one which will take off to 50. I have been buying in the low 30’s.
Twitter was mentioned as a strong buy at 32 only about 2 months ago. It is now 52. GDX could take 5 years to give these type of gains. Keep on waiting.
Well good Paul.
Maybe in the short run. However, when all the dealing
is done over a few years we can look back and compare
notes.
My opinion those stocks are a crap shoot. Good luck
over the longer term. I don’t care about today.
Things change very rapidly in this business.
The trouble with investing now is how much time can you spend watching the markets and can you be nimble enough to get out if real trouble starts brewing like a pinch in the money supply. Guys like Doc know how to do this but most people find it impossible to do their own due diligence and will just but something based on a friend or relatives say so. That is okay if the market in general is rising but if it starts a protracted decline watch out, most are unprepared when it comes to exiting on time.
Dick, you’re totally correct. On this last move higher I pruned my positions considerably especially on stocks and ETFs that I knew would appreciably move lower. I kept only those stocks with minimal downside. Those also have come off but not to the degree of others. When this move down looks technically ready to reverse, I’ll start to purchase GDX, GDXJ and others again and add to the few stocks I still have. There’s no hurry since there is still some downturn evident.
That is a great point Machine Gun.
Sometimes it is hard for me to realize as I spend virtually all my time on this. Witness the present. I am supposed to be on vacation in very sunny central Oregon!
Does anyone remember the classic movie “Miracle on 34th Street?”
Little Natalie Wood, who is raised by a disillusioned, jaded, and cynical Maureen O’Hara, doesn’t believe in Santa Claus, or anything else.
Eventually with help from John Payne, the brilliant lawyer who proves Edmund Gwenn is indeed Santa Claus, Maureen O’Hara starts to have faith and believe.
Little Natalie Wood wants one thing more than anything – to get out of her crummy Manhattan apartment and get a house of her own.
She asks Edmund Gwenn if he can get it. He says he will try.
Come Christmas morning there is no house under the tree, not even a deed, or a letter.
Maureen O’Hara, who is now in love, and changed counsels her daughter if things don’t work out the first time you still have to believe.
On the way home young Natalie Wood sits in the back seat, and as if in a trance keeps repeating “I believe” “I believe” “I believe”
As they are driving they come across an unoccupied house, that has a cane in the corner of the room.
You know the rest.
If only things happen like they do in the movies.
THE GOLD MARKET IS GOING TO GO WHERE THE GOLD MARKET IS GOING TO GO
REPEATING THE BEAR IS DEAD, THE BEAR IS DEAD WONT STOP THAT.
PRETENDING WE KNOW WHERE IT IS GOING LONG TERM ALSO WONT MAKE IT HAPPEN.
Those who want to continue to believe in Santa Claus are welcome, but maybe it’s time to grow up.
James you forgot the reality in Miracle on 34th Street, Macy’s original float Santa was a drunk and the psychologists wife was a lush, sometimes the movies get it right, but like you suggest we have to recognize the truth when we see it.
Well then, you ignore all the facts and all the evidence.
THAT ENRAGES YOU !!!!!
NO, THE GOLD BEAR IS DEAD AND HAS BEEN SINCE
DECEMBER 2013.
Embrace it, find spiritual comfort and believe the truth.
You, of course make a valid point James.
I still maintain that even with all the B you know what going on out there certain economic concepts remain true. The time frames have been dramatically altered and that is what many do not realize.
Well, either Natalie wood or Natalie wouldn’t.
Funny James! But maybe it is the Easter Bunny or the Tooth Fairy we should really get nervous about. In this business it is all psychology and belief systems. I am just constantly amazed at the stuff people take as gospel and then start repeating. Repetition and loud voices are equal to proof right! Ha Ha Ha!!!! There is almost no critical thinking involved at all….just pure blind faith and a whole lot of hope.
On second thought….it is quite a lot like religion.
DT – good point! LOL!!
Per your request here it is in lower case.
The Gold Bear Is Dead !!!!
NOW BELIEVE IN THE TRUTH. the truth will set you free.
Thank you Mr King!
Your welcome and don’t forget to turn out the
lights on the gold bear.
Nothing wrong with being bullish at the bottom.
The negativity is so thick you can cut it with a knife.
OK….AL
Its just a correction and thats all. Ameteurs like to believe
everything goes straight up.
LOOK WHAT HAPPENED IN JUNE.
Same thing …AL or is it ….Mr. Negative.
I don’t know anymore but not taken in by it.
OFF TO THE POOR HOUSE….thats real nice !!!
Slaughtered with the herd….NO THANKS…keep your forum.
And adding four exclamation points won’t make it so either.
KJV 1611 The truth will MAKE you free.
Not set you free.
The truth makes you into a new creature.
The truth transforms you, not just sets you free.
It makes you free
Then FREE….yourself of the bondage your in with gold.
Your in bondage. You dwell, its an idol, it upsets you.
Etc.
Thats bondage. Just relax. Even if gold soars is it going
to change your life that much.
Sorry, if it is there is something else wrong in your life.
Money doesn’t cure everything.
In fact it destroys people. High suicide rate.
Makes people miserable and vicious. ..angry.
NEVER ENOUGH
FEAR NOT……………….KJV……….
Rebuke not an elder,but treat him as a father……………..1TIM 5:1………KJV
Why on earth do local police forces need 12,000 bayonets? Aren’t the hollow point bullets enough?
army surplus,,,, next they will be selling the latrine shovels ,so the states can dig themselves out of this mess, after the SHTF.
Or some place to bury the dead OOTB.
That is weird. As if stun grenades, tear gas, mace and pepper spray were not enough. Maybe they are expecting a whole lot of ISIL style intervention during the next riots on American streets. The police will just come and cut your guts open, chop off your head or pierce your heart. Because killing you is easier than taking you to jail. Less paperwork too.
It was the end of the dollar gold standard in 1971 that caused the inflation of the 1970’s, at which time Volker stepped in and raised interest rates to stop the inflation that he had caused to happen.
When will they stop playing in the sandbox and leave the economy alone, government meddling is the problem not the answer.
We must return to a gold backed currency nothing else works, it’s just that simple.
Won’t happen DT
We will see Skeeta, if China makes their move to back the Yuan, the other currencies will not have a choice and they are determined to be the next World Reserve Currency.
Disagree DT,
They won’t back the Yuan.
In the next crisis the world will again flee to the safety of the $US
On the eve of 9/11 we know our southern border is porous, but what about the northern border?
https://www.youtube.com/watch?v=ikV1906afbM
CFS, Be assured that we are better off with Stephen Harper protecting our mutual border, if Justin Trudeau gets in he doesn’t even have the wherewithal to have his residential doors locked when his wife and children are at home alone. About one month ago an intruder broke into their Ottawa home at night through their back door which was unlocked while he was away campaigning, it could have been a real disaster luckily nothing bad happened and I hope he got the message as stupid as this sounds.
DT, I suggest you look at the youtube video, and then perhaps comment.
CFS, I know that it probably covered what I was talking about but that situation infuriated me so much that I just had to get it out of my system.
Trudeau is not suited for the position of being our Prime Minister, he simply does not have the smarts to deal with the real world and as far as Harper goes I would have to agree with bb’s assessment. That only leaves the socialist NDP party and I think we can all agree on that one.
DT, remember Rothchild? I don’t care whos in power, as long as I control the money?
Something like that.
It doesn’t matter who is PM, except with Trudeu pot gets legalised.
To say it doesn’t matter who is in power is rather naive , for instance I believe that if you were calling the shots for our security the situation would not be as it is now. As for the pot issue I don’t believe it matters, at some point soon it will be legalized no matter who is in charge.
It might matter who runs things in the states, but I don’t think we are going to get rid of the banks.
Therefore I don’t see war for profit will be seen any differently for awhile.
Matter in Canada? Not so much I don’t think, we have the same bank and we do pretty much what we are told. I find most Canadians believe the American propaganda.
So, if the americans decide for nuclear war (for example) with Russia or anyone, my guess is most Canadians would be all for it.
Heck the phrase “it will be over before xmas” might actually be true next time. lol
Just a mention of security between the States and Canada.
I see the boarder as too big to actually restrict people that really want to cross.
How many tons of pot and coke cross daily?
And they have actually been trying to stop that for how long now?
I agree with Ron Paul, if we stop killing other peoples children, other people wouldn’t be planning to kill our children.
I just don’t see the states stopping and I don’t see Canada objecting.
Heck Canada is part of keeping back the evil Ruskies in Ukraine, supporting the guys that burn people alive,bomb schools and hospitals etc.
I just see Canada doing exactly as they are told for awhile yet.
This is nothing new.
The ease of travel between the 2 countries is one of the reasons I have felt the terrorists didn’t exist.
Anyone with access to the right chemicals could really hurt thru water supplies.
Only reason it hasn’t been done is there hasn’t been anyone “wacko” enough to do it.
Naustrodomus prophecised or predicted the New World would have some poisoning thru water supplies, maybe just logics and no special “seeing ability” was required
Course it was 1500? That’s awhile ago.
As for Harper, I cant stand him, his lips are attached to Obamas butt.
Santacruz came out with PEA.
Gold 1240 is broken. So much with the forecast. I said any forecast will be bullet magnet. Hope these forecasters shut up.
Lawrence never say never.. 1240 in my books is not broken unless we close below it.
With that being said lawrence i’ve been advocating lower price and targets for quite sometime. I can now smell 1220 around the corner. Triple bottom is still my call.
Hui 225 gap fill=check
hui 212 gap fill=In progress
Hope you are right. The lower the better. Time is running out.
Don’t you just love the Au, Ag take-down in London as of a morning?
They’ve run out of Pt, so can’t take that down anymore.
Getting low on Au and virtually out of Ag physical….
VIX is going up, so why isn’t UVXY going up faster?
Al, cory,
Is there a reason why the earliest post everyday is getting to me around noon? I wish you guys or i could get earlier post and start some conversation much earlier instead of me posting on previous day post.
glenfidish, The guys don’t start at the crack of dawn in Washington State…..can’t blame ’em. They do work weekends too.
Glenfidish, If you move to Hawaii your posts will start at 7 a.m.
I think he’s in Bermuda, can’t blame him. 😉
Just picked up more SGDM @ $22.03
I am concentrating on physical trust like Silver Bullion Trust and Central Fund of Canada. Sprott silver trust is good too but I will lose some on exchange rate.
I been buying SLV calls. I’ve got plenty of physical. Of the paper vehicles, PSLV is the way to go. I believe that the $CAD will be much higher at the next top AND you will get a hefty premium when you sell. At the last major high, the premium hit 32%. It dipped negative (discount to NAV) several times in 2013 (the last time was December) but has been in an uptrend this year and is currently 4.3% —more evidence that the lows are behind us.
My cash is in my RRSP account (401K equivalent in Canada). US $ is not allowed so for every trade on PSLV(or PHS.U in TSX) I have to pay 1.5% FX charge since it is priced in US $. I do have some PSLV is cash account. As I know, central fund and sprott has nearly all physicals stored in Royal Canadian mint and Scotia Bank. So I call them physical trust
I see; thanks.
lol, alright alright i forgot to put my thinking hat on. I getcha..
I have a stink bid in for SGDM at $20.1 GTC. Don’t know if it will get down there, but I’m hoping.
Then again I have a whole bunch of stink bids in……Every once in a while I pick something up.
What really bugs me though is when I have a bid in for several thousand of a low price stock and I get a partial fill of just a few stocks; an odd lot the trader wanted to dump. But if I limit the order to all or none, I get nothing.
I wonder if your brokerage is playing head games with you. “Don’t put in stink bids or we will fill only partial orders.” Pardon me for being cynical of the brokerage houses; I think they have a lot of info at their hands and some abuse it.
Off-topic; Still waiting for the sun to start melting the 20cm of snow on my roof!!!!!!!!!!! Yellowknife in the NWT has been warmer than Calgary for much of the summer but Calgary has had a nice summer. Anything would be better than last years floods.
Next week will warm up.
I have a new golf club to test…
Go to BC
Funny Dan, I’ve wondered about the same thing for a long time. I’ve had some fishy fills to say the least.
CFS – $20.10 is a long ways down. Even if it gets there, I think there will be a tradeable rally first.
This have been my way for the last two years. I found everytime I chase the price, it comes down immediately after I buy it. Almost someone is watching me. I have put in bids 4%, 8%, 12% below market. Some get filled.
I have had those exact same feelings and used to waste time yelling at my computer. My wife had to put up with some outrages claims that someone was watching me through a back door. Hence the cynicism.
I have an indicator thats bright green.
Toss Rick Rule, my colleagues and all analyst’s.
Like Doc. said it could turn anytime and it will be explosive.
We might test recent lows on the gold equities and break
them by about one percent.
Mr. Market has a little more work to do before the turn.
Flushing out all the momentum players, late participants
and ameteurs.
This will mark two brutal corrections since Dec. 2013.
If your selling then you are giving away your shares.
Gold equites lead the charge going up. They did the
same at the top 3 years ago leading gold down.
IF YOUR LOOKING FOR PROOF THERE IT IS. Gold is
currently in a soft bull market. Slow motion as this
is not a” V “recovery.
(comments will not nest below this level)
Don’t even try it with gold bear arguments.
THE GOLD BEAR IS DEAD.