It might not be as bad as you might think for gold
Click download link to listen on this device: Download Show
james the lesser warning don’t read this
http://www.traderdannorcini.blogspot.ca/2014/11/the-west-greets-gold-with-more-selling.html
Rick, GOOD NEWS! Maybe the botton is in! Why? I saw 117500 GLD shares bought at 110.50 and the actual price was 109.63 on the pre-market. And than another BIG one, 159819 GLD shares at 110.51 (top price until now). What do think?
I share your thoughts Peter.
Do you want the free subscription? (alkorelin@gmail.com)
I all ready send you an e-mail. Thanks Al.
Got it Peter, thank you.
Axel Merk another goldbug you can toss under the bus, lol gee I wonder why he would write such a great article about Japan and how its effecting everything around the world and yet not show how gold has been trading off the yen for years…oh that’s right Merk has a gold fund, just another buy side salesmen
A . B . C . D . E ! https://www.youtube.com/watch?v=qlcWfZb8RpM
IMHO gold is going to $1080-1050 before it turns around. 1137 will not hold. Do not hold your breath. 3 bottom has been broken. 1137 is not enough of the down side for fall to stop. Expect lower targets. Mining stocks are signaling lower lows as they are leading this route.
Seems everybody thinks this way. Even the number are the same.
Stewie,
You could be right, but mid to long term, I am betting on the other side.
Do you want the free subscription? (alkorelin@gmail.com)
Big Al since you can’t get Armstrong on your show John also has called the action these past couple years to perfection towards $YEN anyone following his advice would be way up % wise with investments in Japanese equities and shorting gold as yen gold move together…goldbugs better hope John’s excellent work regarding the yen is about to be 100% Wrong! as he see’s much lower yen after todays BOJ announcement and that means a lot lower gold…who knows maybe he reads Armstrong, lol
Mauldin’s call for a much lower yen ties in perfectly with Armstrongs call for euro$ to parity…wonder if Draghi will but a stop to the euro$ decline Thurs or add it its devaluation keeping up with the BOJ Thurs could be a turning point or a pile point
I have grown tired of listening to people trying to predict what the PM market is going to do next. The only thing I am cetain of is that technical and fundamental analysis are of little use in a manipulated market, unless you want to day trade. I have been nibbling a bit but don’t think we have seen the final washout just yet. Just can’t believe how cheap some of the quality stocks are getting and the crazy thing is they could easily get cheaper. Waiting with interest for the Swiss vote!
I plan on holding no positions heading into that vote so if gold wants to hit $1080 beforehand that works for me, lol
I am with you Nigel, but I make it a point to listen to all opinions. (Well, almost all!)
Do you want the free subscription? (alkorelin@gmail.com)
Won’t stop at 1080 either
Al you used the words optimistic or pessimistic
No one should be optimistic or pessimistic, they are simply bullish or bearish.
You also said Rick said “a good possibility” this price action is bullish for gold.
He did not say that at all
Rick your hidden pivot target looks like it is going to break
$700 gold easily in the cards
Not true, off mike he was somewhat bullish!
LOL….$700 gold LMAO.
What’s next $250?
That’s opposite of to the moon talk. Wrong wrong wrong and wrong again
Miners are already trading at $250 value of gold in 2000, actually pre $250 in 1998. They will go lower but bottom is in sight. There alway won’t be $1000 gold in june of 2015. Route is now and ends at 1000ish level. From there it will shoot up to 1300 and stead to 2000.
I know I might be captain obvious here, but gold looks like it’s going to be a several day down run to the bottom. I think we get 6 or 7 days straight down now.
This could be the plunge to the actual ” bottom ”
Wow ( hope so )
Me too!
It’s very obvious it’s heading down and we are in capitulation for a while now. What people fail to see is the miners bottom first and then lead up and diverge. This is going to be a V explosive bottom. When it rips who ever is short is going to get it hard in the culo lol.
Charter, you might be right.
Let’s get it over with already wherever the bottom is
Like playing with dynamite. Oil should turn up 1st and a safer bet including the general market.
Well…………….remember Harvey Organ said that all of this would happen before the POP !!!!!!!!
“Somewhat bullish”
I guess thstmwouldcalso mean he is “somewhat bearish”
Stevie so you dont think $700 is a possibility?
It is happening right before your eyes
Anything is possible James, but Stevie doesn’t want to hear that scenario.
We are on the abyss. …just how far down we fall remains to be seen.
It’ll be fun to watch though from the sidelines.
Where are all the die hard gold Bulls?
HH is gone. His to the moon rah rah cheerleading is over
Matthew has been missing in action
Last I heard BIRDMAN had become bullish
People continue TO DIG THEIR HEELS IN AND DENY WHAT THEY ARE WITNESSING
Rampant Ra Ra pumping gold bulls are probably outside staring at the moon.
wondering why their physical & mining stock holdings are not visible on its surface.
but anyhoo…….
Sorry…but THAT was funny!
Rick your target so far is holding. That is your hidden pivot target of 1137..If she holds what a call. You combine this target with gary’s optimism of turning cycle any second now, and doc’s nibbling and i like the odds.
One thing that would indicate gold prices rallying is the advance of near term futures over longest dated futures, or a narrowing of spreads. The reason why is that call options in gold have to be under demand rather than puts, because gold prices have declined only too far for the balance of gold derivatives to remain in the money. That means the largest bullion players will have to be buying up long futures in the near term over the longest dated futures. They were caught by downside volatility which exceeds their own expectations. Their gold derivatives are basically out of the money on the downside.
(the following chart does not seem to update with the close and is a day behind)
http://quotes.ino.com/charting/index.html?s=NYMEX_GC.Z14_M19.E&t=l&a=0&w=1&v=dmax
once again Al love the way you introduced Rick as being very optimistic when in fact he wasn’t. I know your a per-ma gold bull but your interpretation of what your guests are about to say are quite different from what they actually say or have said,
BTW your target Rick was smashed below 1137 last night and yet gold is trading higher. I wouldn’t be surprised if Al congratulated today for being so accurate.
Your’ve got to convince the miners Rick as every bull likes to say miners lead so if HUI was 160+ odds are good, but the bounce off your low zone was just as oil popped off the Saudi pipeline explosion news.
YES, YES, YES!! and that’s what 95% of goldbugs don’t understand to even suggest THE bottom is in your call of taking out $1300 is bang on, not just $1150 or $1200 but $1300 !!!
good luck!