Monday Morning Technicals with Rick
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Thanks, Glenfidish. Check out , GDXJ targets below. The best place to keep apprised in real time, though, is to subscribe (free two week trial at: http://www.rickackerman.com/lp/RicksPicks/?utm_source=site&utm_medium=link&utm_campaign=free-trial) You can also access my Hidden Pivot targets via Twitter: @RickAckerman). I don’t hype a P&L record, but invite all to visit the chart room, where you can ask subscribers yourself about the accuracy of my forecasts.
BIG AL, Is time to Russia accept any currency to deal energy? For me, if Russia does that It’s gonna bee blood bath for dollar. What do you think?
See Jim Sinclair
https://www.youtube.com/watch?v=KXGPzDq45gM
The Russians always seem to have winter on their side and this time it is no different when The Europeans start to freeze and their industry caves Mother Russia will do what they have done in the past, survive.
I hadn’t herd the Isrealis attacked a Syrian base for the cia.
Anyone know any more about that?
I saw a story that one of Israel’s Syrian air raid’s was on a state-of-the-art electronic intelligence facility equipped by the Russians. Supposedly, “the West” was able to seize the equipment and take it back to Langley for retro-engineering. Her’s an account of the raids, which also reportedly destroyed some brand-new Russian SA-25 antimissile batteries: http://debka.com/article/24287/Mid-East-sources-Israel%E2%80%99s-air-strikes-hit-Russian-top-line-air-defense-missiles-sent-to-Syria-Hizballah
Russia a loose cannon? … lol ….
I think Russia is in better shape than you guys think.
http://www.acting-man.com/?p=34615
I couldn’t agree more, Mathew.
🙂
Russia did very well to diversify out of U.S. dollars and into gold. What they can do is employ the same economic strategies that are used in the west, such as QE, or flooding the money markets with treasury bills, if they want to avoid a default.
The Ruble gold chart serves as an example for what’s in store for gold prices, it merely came to Russian markets first. (preceded by the Rupee, of course)
A decline in the Ruble makes oil price declines moot.
http://www.kitco.com/gold_currency/index.html?currency=rub&timePeriod=10y&flag=gold&otherChart=no
Moot? Not for imports. On the export side, Russia has no exports other than energy.
The reason why I say this is moot, is because Russia is bound to take advantage of trading energy for Euros. With the decline of the Ruble, oil price decline or whatever effect they are presumed to have are likely to be overstated.
Sanctions are U.S. – centric and the U.S. is bound to be seen to be escalating tensions in the Ukraine, meaning Europeans, who are themselves experiencing deflation, will welcome Euro purchasing power for cheaper energy.
Nothing is being said about Russian banking as of yet, and how they are taking greater part in Euro affairs.
But here is a short article on the Russian economy:
Russia’s trade partners, all in Euros, not US dollars:
Uhhhh.. vodka !
BTW, the RSI on the $ CAD gold price just turned bullish:
Lots of good talk today — and Hidden Pivot targets — in the Rick’s Picks touts section and the chat room. FWIW, if GDXJ doesn’t hold 20.81 (my minimum downside projection for the near term), it could fall to as low as 17.80. A washout caused by tax selling seems likely in the remaining days of 2014, and either of these two Hidden Pivot targets could yield an opportune spot for tightly stopped, back-up-the-truck bottom-fishing.
Oil is being brought down and the other major asset that Russia owns is gold so that could also get attacked. Oil will turn when it gets too painful for OPEC.
Will be interesting to see how the oil prices start to affect all the oil firms here in Texas.
President Bush and his family used to be friends with the Saudi’s and if that is still the case I’m surprised
they let OPEC do what they are doing with oil prices as this will affect Texas in a huge way and I believe the Bush’s still reside in Dallas and Houston.
Bringing Russia to it’s knees will not be good as it will ripple through Europe and affect an already fragile union.
Astrologically speaking, the planets have cycled back to how things were back in around 1967 which explains all protests. This cycle of war will be with us for some time. But if you are a trader ,which I am, this makes for great volatility and today I bought precious metals GDX which was down over 6%.
It’s a good time to be either buying or trading gold stocks and etf’s at these prices.
Steve
Austin, Texas
Guys IMHO this has nothing more to do then market timing and cycles. Everything has its time and place and now it has clearly become precious metals moment. Forget the noise around us as it is only smoke.
Rick your pal nailed that hidden pivot at 1137! Please I keep asking you to have him give you his latest updates. Thank Rick. Love your hidden pivots. We need more free ones 🙂