Two important sides of the energy scenario.
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Rick your $58 target for crude coincides with David’s Gurwitz of Charles Nenner Research. Gurwtz’ next target for gold is $1244.
Rev,
Notice how david quickly stated he had a stop at 1190 for gold. They are two smart lads I give you that.
Rick,
Have you talked lately with that friend of yours that has told you about that hidden pivot at 1137 lately? Would love if you could share his latest thoughts as to final low or does he think it can now be broken? A man who had that target is a man who knows a little something.
Al please ask rick this question.
Simple oil chart (extended) from over 3 years ago. Note the uptrend line :
http://2.bp.blogspot.com/-qNZi6dtiZr4/Tf2lDvtEIpI/AAAAAAAAANM/AjwClhk7Udk/s1600/OIL-20110617-MonthlyN.jpg
Deflationary pressure is gonna choke the POG.
Not at all Don. We are talking of gold as a function of money. It is money itself that will be coming into doubt as the sovereigns begin to default and alternatives will be sought. We are in the terminal days of the largest credit bubble the world has ever known. Debts are indeed unrepayable and that is leading to our deflationary outcomes. The flip side is precious metals have a place in investment portfolios when the creditors come home to roost. Even a small shift in capital back into metals and the prices will be lifted anew. So deflation will benefit gold and silver at the expense of currencies that are being devalued. Just look at how much gold has gained this past year in ruble terms as one example. Gold has in fact seen growth in most currencies and so its appeal is again going to be on the rise.
Bird, I think you got up this morning and took a pill that said ” Today will be your day”. It’s about time!
Ha ha ha good one machine gun
My month long internet holiday woke me up, DT. With no access to any charts or chatter I had plenty of time to think. My conclusion is the bear market is finished.
Bird,
I appreciate hearing from you again.
The Best to You and Yours!!
Jody D
Well cheers to all. I have thrown off the bear suit this month. Feeling downright perky about golds prospects actually. Silver was the trigger for me. When it went below 15 dollars I just concluded that was the bottom and could stop focusing on the downside anymore. There could well be a lot of sideways trading in store for next year though. I guess it all depends on how spooked the market gets once the defaults begin and a few dominoes begin to fall.
Housing won’t turn around. This is the start of the decline of the US empire.
The great crash of 1929 did not start “The Great Depression” that was well underway before it imploded, I agree with Rick Ackerman.