It could continue to get worse for the markets
Click download link to listen on this device: Download Show
Aida, sorry to have confused you—-sometimes I’ll be very specific and sometimes the charts I watch are very non-commited. In fact, if this market closes like it currently is acting, i would say we still have more work to do in gold. In other words, we’re very close to a current top and could now move some more down to sideways. I was really surprised by the current move we’ve seen since I expected more sideways move before a significant move. I expected a nice bounce in gold toward the end of October or soon thereafter. Let’s wait until the close today. I just don’t like how the PM stocks are currently acting. When I get a clear signal on a significant move, I’ll give you levels.
I THINK RICK IS CORRECT………………..BEAR DOW N……………
Just tell the people who are nervous about DJIA breaking 16,000 that this is “normal”, a “healthy correction”, that “it was time for a correction”, that a “new bull market is just around the corner”. Be as patronizing to them as they were to your gold spot price and gold stocks falling under government-directed manipulation. After all, turnabout is fair play. And former shrills being turned into the newest fodder is sweet revenge for someone already outside the system. Watch the system turn upon a new section of sheep to be fleeced, this time in the conventional markets.
Just don’t be bitter. 🙂
Oil just dropped below $80 a barrel. Imagine what would happen if the Dow Jones dropped by the same amount silver did from 2011 to today. Roughly a 65% drop.
Hello Doc,
When you say you think gold has further upside before a pullback, could you please be more precise with what the technicals are showing? The high today was 1249 – the 1250 resistance was too strong for now. What levels are you looking at?
Thanks so much.