Peter Boockvar believes that the bottom is fundamentally in for gold.
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This is also Segment 6 for the Weekend Show, but we wanted you folks to hear it first.
Spinal Tap is calling the bottom as well (a little Friday night humour after a rough week) https://www.youtube.com/watch?v=J8yA2iLE15g
Joking aside, I found it interesting that silver was halted this morning for a short while (during an up move). Does anybody have any theories on that?
Means nothing at all.
Bobby, my bet is that it’ll be the same people who’ve said the bottom is in again & again & again & again……all the way down.
I thought we established that fundamentals do not matter during alogo central bank paper manipulation. Fundamentals are sh1t until technical price targets are reached that either satisfy corrupt bankers or physical market gets stretched to failure (backwardation) in physical deliveries and cartel steps aside. Please no fundamental nonsense until targets are reached.
Bravo,Stewie!!!
Matt we are in backwardation now in both gold and silver but i think we are going to go to washout phase like Rick Rule, Gary Savage and recently Jordan Byrne mentioned. I do not think we will hit 1000 on gold but i think gold may bottom at 1080-1100. We were 37-57 short of that. I would hate for this to bottom here. It’s too short from 1180 brake down to bottom out. We broken triangle.
Al, what do you think of 514.245 GLD shares bought in less then 1 minute, when the average of deals is about 20.000 shares? It´s very strange…
We are close to a bottom regarding time,, and far from it regarding price. Big wash should be next week. I did say this last week too.
The washout is coming ( bigger than most think )
Hope you’re right. I do not want wash in June of 2015. That would be f***** up.
Chartster,
I sure hope your right or there going to call you pony x2 lol
Yes gold can rally along with the dollar. It’s done it before it can do it again
Yes the dollar strength is all relative
Yes people should see gold in a different light as another currency
Where I disagree though is your statement about no opportunity cost to hold gold.
These last three years there has been a tremendous opportunity cost
If you compare it to other currencies than no, but if you compare it to stocks than you really lost out.
So what to make of today’s move?
I called 1212.80 as the bottom in terms of price and time
We clearly overshot that, although in the scheme of things not by much
Today’s rally was very powerful on really no news
The nfp report was a non event
The Swiss gold referandum I’m afraid will be a no vote
I don’t see any reason for the reversal.
Short covering yes
Physical demand yes
Many people are jumping in now rather than waiting for another $100 to $50 down leg
Don’t try to call the bottom just like don’t try to call the top
I always say the last 20% doesn’t mean anything
People are buying gold today like they have inside information
That comment is hilarious,
Silly & wrong…..but hilarious nonetheless James.
Thank you Al/Cory for putting this interview up early… what a great and generous host.. 🙂
Gold coins are selling out in Hong Kong.
http://katchum.blogspot.com/2014/11/day-16-19-high-purity-gold-coins-in.html
The bottom is in….Ive heard that before
Declaring a bottom in gold. Something that’s been going on for four years now…
Priceless……..
Very Expensive, too.
And for some FASCINATING comments on gold as a currency….from Mr Greenspan no less….watch
Sweeta you think my comment is silly and wrong.
I think you are very naive then.
The insiders get the information before the public does all the time.
If you do t know this you must be living under a rock.
Did you ever see what happens 5 minutes before the fed fomc minutes are released.
This was a high volume reversal on no news
If you think inside information is silly, wrong and hilarious you really need to wake up
James… that makes me think some parties even knew what BOJ would do on the days before its Halloween announcement.
James,
Whilst you & Bo Polny called ridiculous gold bottoms that gold has since plummeted through I’ll happily live under a rock any day of the week.
If silver falls all the way to 4 (your call) then you have more to lose than me (personally I dont believe it will go that low)
Bo only loses sucker gold subscribers…so what? He can go always go back to Chiropractory if necessary.
I am more than happy to be what you call naive & needing to wake up….I’m one who you called a gold troll before calling for possible 500 buck gold yourself ???…go figure ???
You, like Bo have already been wrong.
You both will be again.
Best wishes James…but ultimately you & Bo will be wrong again.
Insider information presently as you say is better than nothing more than a rally and & opportunity to sell.
You taunt Gary with flip flopping……you do exactly the same thing !!
You can’t have it both ways.
Have a good weekend.
dont buy bottom is in anymore… but Peter’s bottom is kinda weird as he said price can go lower but it’s a bottom.. 🙂
As someone here once said when you go looking for a bottom things can get pretty smelly.
Right in the nuts.
Who,s next to call the bottom?