Is the big money now positioned in the gold market?
Click download link to listen on this device: Download Show
THE HOLE MARKET IS MANUFACTURE 24 / 7 ALL MARKETS ! We live in a lai ! And day bilding a prison ! I agree Gary ! The elite have triljions day no need MONNEY ! the nam off the game is control ! thank’s Gary and Cory !
Good interview here guys. I like the breakdown of the volume and money flow in the ETFS and it is a good point that larger players are getting into the position.
Who falls for this stuff?…
http://finance.yahoo.com/blogs/talking-numbers/why-now-is-a-great-time-to-sell-gold-223319350.html
yahoo says it all……………………
Ditto about Yahoo…yes Matthew..who are these guys!..kinda like from the movie Butch Cassidy and the Sundance Kid..:)
As soon as I read the following quote from this guy I stopped.
“I can make an argument right now that U.S. equities are right now the ultimate safe-haven assetโ
Fascinating. I had no idea that such volumes of shares were being traded recently. What Gary says makes a lot of sense.
Lets hope what Gary says is correct.
I really don’t think the odds are good for another lower low, but if it does happen it would just mean the intermediate decline is stretching a little bit and the move off the bottom would be even more powerful than what we just experienced.
Gary you’re da boss! ๐
This week should be a shoving match between the bigger players, much like the previous week’s action, right up until the close on Friday, since we’re going into options expiry. I’m thinking that the last three years has been a demonstration of the effect of derivatives on the market, most auspiciously since December, 2011 for a three year term.
Chart of the day
http://blog.smartmoneytrackerpremium.com/2014/11/chart-day-35.html
thank you for putting up chart Gary. would you do more often please. it is very helpful. you the man. good day
I agree but have to add that such volume was made available to big players by weak hands throwing-in the towel. We’ve had massive capitulation that really started in January.
Although it’s nothing compared to the current action, Q1 volume dwarfed anything we had seen previously…
http://stockcharts.com/h-sc/ui?s=GDXJ&p=D&st=2013-06-06&en=2014-03-22&id=p34668546376&a=377127099
The miners have been in a decade long downtrend vs gold for a decade. They will now dramatically outperform gold again.
thank you for putting up chart Gary. would you do more often please. it is very helpful. you the man. good day
Japanese Yen descent is accelerating. It is near 118.5. Gold is breaking out in Japanese yen. I saw gold is green in Japanese yen but red in all other currencies. However, they have trouble capping gold price this week. Let’s see what willhappen when Yen breaks 120. If yen keeps going down and gold stay the same, Japanese may start to buy gold since they see gold going up in their currency.
The blue line in the following graph shows the gold in yen term
http://www.kitco.com/gold_currency/index.html?currency=jpy&timePeriod=6m&flag=gold&otherChart=no
based on the several sudden run ups we experienced, bullion banks have met their match, so they seem not able to make significant progress under 1180. They were likely stung by large buyer. Russian are definitely buying, and who else. Breaking yen pegging to gold might be game breaker.
I say this as a long suffering gold (and silver) bug– who is still holding positions. But I really don’t think that a final low in dollar gold can be seen until we see the top in the US dollar. A lot of goldbugs are ideologically committed to the idea that the dollar can only rise in a serious deflationary environment (which is, like in 2009 and 2010 a good thing for PMs), but if that does not happen I am afraid that these metals can move significantly lower.
Watching gold’s spot price these past 24 hours has been fascinating to say the least.
Im confident we go up tomorrow.
If anyone remembers what I said long ago then you would be in the money today. I said loud and clear we would rally first or second week of November! On or after elections. Here we are and no love? ๐ I nailed this rally. Matt nailed getting more profits out of it lol.
I also stated lower wti oil for as long as ive been here. Glen should be officially named 4th muskateer. No that honor goes to Bird or matt.
Yep, I remember your lower WTI Oil calls glenfidish.
You have mentioned it several times in the past in different conversations on here.
Yes, I remember too. Great call! …Ok, you can be the fourth musketeer. ๐
Well if gold doesn’t bottom lower than it has already this year,
Then I guess I’ll wear the moniker of one of the 3 stooges ๐
“Nyuk Nyuk Nyuk”
I’m still confident it will though.
Cheers.
WHERE ARE THE SHORTIES……………………………
BIG swing last nite…………..
Thanks matt!
Skeeta,
Thanks :)..
For the record skeeta to me we are headed higher in the short term. We are headed lower into the summer is my feeling or fall 2015.75 marty call.
IMO Gold won’t be on its lonesome if we get a final low late next year,
I think plenty of other commodities are all going to be in the same boat on the ride down.
If so, its going to continue to bleed many mining companies dry, as well as decimate many small mining local communities.
second line skeeta is towards longer term.
Glenfidish,
If your interested ?
I listened to Marin Katusa via podcast today on his views regarding resources / resource stocks & where they are heading, particularly oil.
If your interested in listening he was a guest on “Wall Street Unplugged” (Frank Curzio’s) latest podcast after splitting from Stansberry….I get it on itunes.
Cheers.
Thanks skeeta i will give him an ear. ๐
Evidence that Gary is spot on:
http://www.reuters.com/article/2014/11/20/gold-asia-volatility-idUSL3N0T907S20141120
Matt,
Looks like your dip below 27 on gdxj is coming.. Lets see if it reverses.
Close the gaps! close the gaps! Close the gaps! ๐ then rocket up ๐
No kidding! I’m ready to buy more calls when we get down there. I would like to see a move to at least 26.90.
Woo hoo.. closing the gap… ๐
Matt,
For what it’s worth im seeing an inverse head and shoulders forming since yesterday on hui..170/171 tap and up would be joyful. They never make things easy.
How will you play it when it gets there?
I buy common shares. That’s all i do. Have not looked into calls or options etc. I leave that to the pro’s. Maybe someday. I go in on tranches. 25% lots and continue to inject as it heads towards 50 DMA and continue if i breaches it. Then unload all at once. When i get that urge.
Thanks.
Did you notice that on the 60 min chart of the HUI, the market reversed when it only filled the gap down to the prior period high? The rest will get filled later. Trading opportunities…
Your one smart lad matt.. I noticed now lol. Let’s see if we touch bottom and reverse. Id really like to see gaps filled, maybe run them a little lower to trigger stops and then reverse up and break the 50 DMA towards closing. A man can dream right? :).
The miners have never been so cheap compared to gold. Gold is up more than 5 times when measured in senior miners just since 2006!
http://thefinancialtap.com/wp-content/uploads/2014/11/11-15-Gold-to-miners-ratio.png
Now that even most gold bugs have had it with the miners, opportunity is knocking.
got it. thank you.
Gary,
what are your thoughts today?
Here we go matt gaps about to get filled. Lets see if the computers reverse it on a dime or run it lower.
thanks for the follow up…………………………jootb