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Monday morning commentary on the markets and gold

October 6, 2014

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18 Comments
    Oct 06, 2014 06:48 AM

    I LOVE AND ENJOY AND LIKE DISS GOLD MARKET BUY BUY BUY ! DON’t CRY ! https://www.youtube.com/watch?v=WJNYSga0Czk

      Oct 06, 2014 06:42 AM

      “Buy, buy and don’t cry.” I think that will be my new bumpersticker, franky.

        Oct 06, 2014 06:46 AM

        YEEEEEEEEEEEEEEEEEEEEEE MAN ! GO !

          bj
          Oct 06, 2014 06:26 PM

          Good on ya franky.
          Just remember: In the city, they slip and slide; but in the country, they grip and ride.

    Oct 06, 2014 06:49 AM

    Thanks Gary – Everyone will be relieved to know I’m out for the rest of today. But had to tell you of the outstanding interview between Greg Hunter and Rob Kirby….anyone who is a truther stands to become a criminal. See below:

    http://usawatchdog.com/

      Oct 06, 2014 06:18 AM

      Relieved to know?

      Common Reverend, we are certainly not relieved to know that!

    Oct 06, 2014 06:50 AM

    “Vive Hong Kong libre!”—-Charles de G.

      Oct 06, 2014 06:19 AM

      This one wil be interesting Bonzo!

    The time period………that you refer AL, is the time of the day…that no one is awake, except the GLOBEX manipulators……………If, you notice gold took off when the Chinese woke up ……….

    Oct 06, 2014 06:46 AM

    Al…It looks to me like the dollar is the major factor in gold movements. Why not spend a little more time on discussing the dollar movement, both fundamental and technical.

      Oct 06, 2014 06:59 AM

      Fair enough Hokiejohn.

    Oct 06, 2014 06:06 PM

    Sold my loco from Friday purchases at a fat gain and then reloaded on the sharp quick dip and ended up with another nice gain at the close and holding. Gpro up 6.73 on short covering.

    Oct 06, 2014 06:33 PM

    HEAR ME NOW…

    I purposely have not posted since my bottom call on Friday September 19th.

    I have no time to get sidetracked or dragged into the usual debates.

    I decided I would only post when the next important market event happened, which was last night!

    I made it clear that the 1212.80 price level that was hit on that Friday (ALIBABA Friday)
    Was THE BOTTOM.

    I made it clear that following week would be vital, which it was.
    Truth be told so was the next week, and it was.

    Gold held 1212.80 all the way up to this Friday’s orchestrated non farm payroll take down.

    Sundays overnight take down was the FINAL CAPITULATION BEAR MARKET TRAP OVERSHOOT.

    I said before any of the talking heads started admitting it that the ALIBABA IPO was the final stock market blow off. This is precisely what has played out.

    Based on price, duration, sentiment we have our bottom!

    NOTHING IN THE LAST TWO WEEKS HAS CHANGED MY OPINION

    As they would say at the racetrack – Run, don’t walk to the window and bet with both hands!

    FONZIE DID INDEED JUMP THE SHARK!

    Here is the repeat of both posts I published on that fateful Friday September 19th…

    On September 19, 2014 at 9:20 am,
    James (the lesser) says:
    Did Fonzie jump the shark?
    Many of you may be familiar with this expression.
    For those of you who are not let me edify you.
    The phrase “Fonzie jumped the shark” refers to the classic sitcom “Happy Days”, when in season 5 Fonzie jumped over a shark on water skis. At that point the producers, actors and fans knew it was over. The show had run its course.
    The phrase became an idiom to describe not just a television show, but in a broader sense anything that starts to devolve, come to an end and break down or apart.
    So did Fonzie just jump the shark?
    Happy Days needed to resort to tricks and gimmicks, like Fonzie jumping a shark, to keep the viewers interested.
    Is Wall St. resorting to tricks and gimmicks as well?
    It seems to me that everyone is now on one side of the boat.
    Gary declares stocks are safe, just pick your stops and the skies the limit.
    Easy money.
    Today is the day for ALIBABA.
    THIS COULD JUST BE THE LAST AND BIGGEST TRICK OF ALL.
    At this point this is as good as it gets.
    We have reached the top of the mountain.
    The largest IPO in history
    $92.70 is the open.
    IT IS A BRAVE NEW WORLD
    OR
    DID FONZIE JUST JUMP THE SHARK?
    I will put the question to you and I will leave it with you.
    Now regarding this interview.
    Today’s action was not about SCOTLAND.
    This is all about ALIBABA.
    Gold does not follow silver.
    Sometimes silver leads gold, sometimes gold leads silver.
    But gold always plays the tune.
    I said silver could go all the way to $4
    I see no reason to change my mind.
    That does NOT mean it is. But it could.
    When the dollar was crashing several years ago super model Gisele Bundchen demanded she not get paid in the dollars. Almost over night the dollar bottomed and started its long move upwards. It was known as the “Bundchen Bottom”
    So was Al’s famous 5 to 10 bucks (Figuratively Speaking) statement the bottom?
    The NASDAQ has turned negative
    The S&P is flat.
    The DOW is losing its gains.
    Everyone has finally capitulated and expect stocks to reach to the sky.
    All that’s left is for the retail investor to come in and get slaughtered.
    Regarding gold – the deck has been swabbed. The carcasses have been swept overboard.
    SENTIMENT IS IN THE GUTTER
    NOW ITS TIME TO STAY OUT AND WAIT FOR THE TREND TO CHANGE ACCORDING TO AL
    But wait…gold is holding its critical level.
    Could it be the sellers are exhausted?
    Could it be that Janet Yellen, the FED, and ALIBABA could be the last trick Wall St. has up its sleeve?
    This is ALIBABA’s day. But OCTOBER IS RIGHT AROUND THE CORNER.
    I contend GOLD IS HOLDING A VERY CRITICAL LEVEL.
    I contend the BOTTOM COULD VERY WELL BE IN.
    I believe NEXT WEEK WILL BE VITAL.
    AL I BELIEVE LIKE GISELE BUNDCHEN YOU JUST CALLED THE BOTTOM!
    5 to 10 bucks figuratively speaking!

    This was my second post…

    On September 19, 2014 at 1:48 pm,
    James (the lesser) says:
    On Friday September 19th,2014 shortly after 12:30pm eastern standard time the GOLD MARKET BOTTOMED AT $1212.80

      Oct 06, 2014 06:28 PM

      How can you claim that gold bottomed on Sept. 19th when it was $30 lower at $1182 last night?

    Oct 06, 2014 06:20 PM

    Every time gold appears in negative context especially few time on main page on main stream media those in past made gold bottoms so expect that IMHO.