Traders are almost all in on the US dollar
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Gold looks superb on the monthly chart.
http://stockcharts.com/h-sc/ui?s=$GOLD&p=M&yr=15&mn=0&dy=0&id=p11544197167&a=366074617&listNum=1
I think the miners are going higher before there is a meaningful and more protracted reaction.
http://stockcharts.com/h-sc/ui?s=$SPTGD&p=W&yr=5&mn=3&dy=0&id=p83343429129&a=374056948
The HUI is trying to get through the 233 day EMA:
http://stockcharts.com/h-sc/ui?s=$HUI&p=D&yr=1&mn=1&dy=0&id=p67195374390&a=370482078&listNum=1
Very strong. +3 Matt.
So, dollar goes down, gold goes up right?
not always…………….
No, only if they lose control for a few days, or purposely want a rally. Many times dollar is plunging and they manage to hold control.
Gold priced in the 30 year T-Bond is up 5% in 3 weeks and is probably marking the end of the cyclical bear, in my opinion.
http://stockcharts.com/h-sc/ui?s=$GOLD:$USB&p=M&yr=15&mn=11&dy=30&id=p37758522369&a=371809762
I have most of my cash in US and exchanged from CDN quite some time back. I bought back into GDX today as I just don’t see any major correction and a small one happened early this am at $1279 around 7:20 am. The market is having trouble getting through the 50 day. Some good news in my family: my daughter finishing her BSC here in Ontario received offers for multiple day interviews at Harvard and Stanford for the PHD Bio-sciences program. We have our fingers crossed. I should have been in gdx from around $18 (that was my plan but I hesitated) instead of the sidelines as many have suggested.
Always nice to hear good news, good luck to you and your daughter.(and family)
Be careful, this is when they get you. I’ve been trading gold for years now and know their tricks well.
Paul , Hi….A bit of advice , talk Her out of going to Harvard or Stanford , She will just become part of the machine..(Matrix ) think about looking further afield ..Far East , Europe .
We don’t want to send her too far and her education would be free here.
Gary,
You were spot on. This is a parabolic last gasp on dollar.
By the way what was that gap on dollar? Matt ,BDC ?
Was he spot on with his euro call you jumped on yesterday and the day before. NOT!
Do you have an objective bone in your body?
Plus , he’s looking at the wrong currencies. Look at the yen and the Swiss.The two other safe haven plays.
Gold, the USD, Yen and Swiss are the safe haven plays.
Gary’s tools don’t work in this environment.
Chris,
Firstly I don’t trade currency nor did I jump on anything 🙁
Im just agreeing with gary on dollar tapping 94 and possibly turning. It tapped 94 and looks to be headed to close that gap bdc has talked about.
I have used Gary’s cycle work in the past with fundamentals/charts/etc and it has helped. To each there own. 🙂
Matt,
We are capped today at 1304/1305 on gold
We are capped at 210 HUI
I believe we get the scenario number #3 that I posted on docs heading yesterday.
Back to back days and I expect that all gaps including gdxj fill by today or tomorrow.
Noticing a head and shoulders on gold targeting that 1283/1285 region. I mentioned yesterday that I could see it go as low as 1279 give or take and shoot up.
Lets see.
We already hit 1279 early this am.
I have the lowest 1280? Can someone else confirm?
If so that was overnight and I expect it to happen open market here. Gaps need to fill..I prefer now then after. Indicators are heating up want to cool them a tad 🙂
I have 200 floor for hui and if broken 194 would be a nice retest.
Gary, are you still viewing this rally in gold as a counter-trend rally?
Until it makes a higher intermediate high the burden of proof lies with the bulls.
Gold priced in barrels of oil seems to have a date with 33.
http://stockcharts.com/h-sc/ui?s=$GOLD:$WTIC&p=M&st=1981-09-07&en=today&id=p61642187752&a=366698528
By this measure, gold is up 350% (4.5x) since 2008.
Is this suggesting Oil to 33? sorry for confusion 🙁
This suggests 1oz of gold will be worth 33 barrels —a 27 year high (it is currently at a 21 year high). Don’t hesitate to ask in the future, too. Pricing assets in other assets can be confusing.
Matthew any opinions on oil? I’m thinking about buying the etf.
It is extremely oversold when priced in either dollars or gold —even on the monthly chart, which has only happened 3 or 4 times in 30 years. Priced in dollars, oil hasn’t been this oversold even once since 1986. So you’re looking at an opportunity to buy that doesn’t come often. Having said that, you might consider buying some now and then buying on weakness for the next few months just in case it does eventually retest support in the mid to low thirties. If you intend to hold the position for a year or more, I consider the current price to be a very low risk entry.
If anyone disagrees, I hope they’ll give you their opinion too.
Thanks I noticed that along with many other things is your forte.
+1
Matthew this would be a long term hold for me at least a few years. Thanks
Victor5 -That makes the current level very appealing, in my opinion.
The large 2003 $US index gap is between 94.40 and 94.73.
This was 11-12 weeks in duration: nearly an entire quarter.
There is a much smaller gap around 100 (about 3 weeks long).
The big one must be filled — the little maybe not.
BDC,
Thanks
Has anyone else confirmed these gaps BDC keeps talking about and want to jump in as to thoughts?
If we can close the week near 1320, gold could see 1380 quickly.
http://stockcharts.com/h-sc/ui?s=$GOLD&p=W&yr=5&mn=6&dy=0&id=p33569941396&a=353190773
If that happens do you see it holding for the month? We discussed this the other day when I said it may sound crazy for some but we can have a monthly close above 1350 for this month.
Since the last trading day is next Friday, yes, a close above 1350 is far from a long shot.
Thanks!
Not that it’s going to happen in january but always good to have another similar mind and a very intellectual one to be on par.
How sure are you that it won’t happen in January? Can you share the odds you put on it?
Thanks!
Well put it this way, if we close those gaps tomorrow and turn up or close above 1320 by tuesday, then the odds I put are 68% 🙂
Hmmm… and what if we don’t fill those gaps; what then? 41%? 24%?
Fwiw, I place the odd at 73% in favor even without any gap-fills. 😉
Matt,
That is why I said also if we close 1320ish give or take then yes 🙂
68 vs 73 I like them odds..
Long term=In
Short term=have not sold
Some may call me crazy but i ride bulls 🙂
Matt I think I asked you before what retrace number would you like “If” we get to 1350-1400?
1200?1220?1250?1275?(The one id be leaning on) etc etc
I would like to see 1268 hold. New bull markets are very good at leaving people behind, so I’m not ruling out a Swiss franc-like move. There certainly exists enough trapped shorts who thought or still think that gold is in a secular bear. There are also a lot of sidelined bulls who will keep waiting for a pullback. If this is the start of a new bull, fortune favors the bold. Err in favor of the bull and it will rescue you from your timing mistakes. The risk is being out, not in (again *IF* this is it).
http://stockcharts.com/h-sc/ui?s=$GOLD&p=W&yr=4&mn=9&dy=0&id=p74725893032&a=386006694
Matt,
Thanks for the chart.
The first green arrow on your chart gives a summer top pf 1600-1650.. This is the scenario im giving a possibility to if “this is it” on the uptrend. I believe that there is shot it could go as high as 1800 into summer but that seems far fetched. You just never know. LPG Matt’s chart is what I was kinda referring to on my other post. Super cycle bull.
Baby steps at a time. We need to deal with overhead resistance at 1306..
The market structure is ripe for a move that even surprises you and me (the weekly chart in particular). Putting the predictions aside, the technicals and sentiment indicators are supportive of more upside —even MUCH more.
Now for the BUT. The more I look at everything, the more it looks to me like we might want to exit our trading positions in seniors and/or the larger, more liquid juniors on a HUI move to about 220. We may not have to stay out for long, but the pullback could be sharper and deeper than many expect. So 7-11% upside on the HUI and I will be taking some action.
Dude,
You must be reading my manual lol.
HaHa I have 220 target as well. Me guts tells me tomorrow we dip get that gdxj gap of matts and explode higher. Looking for gold overnight to fall to 1279/1285 and as low as 1272 but not break it. The former is what I much prefer. If it happens I will let the viewers know before end of day what I do with trading positions.
Good update Matt!
By the way, Fridays seem to always have long white candle stick tails. Im hoping for this on the weekly.
Glenfidish,
Noted your comment re: Matthew’s chart and what you meant re: summer top @ 1800 and super cycle bull. Thanks.
Now I gotta say that IIIIFFFFF we get to 1800 by the summer, it will definitely be “summertime love”… Ohhh boy(s)…. –> Which makes me think of this song:
https://www.youtube.com/watch?v=CYpYi9bLloE
Bringing back memories 🙂
Best to all, and GL investing/trading.
LPG
LPG,
lol she had a hard time keeping the bazookas in her swim top. I had a hard time concentrating 🙂
cheers..
No bazookas here 🙁 , but…
https://www.youtube.com/watch?v=F8anzIw79lE
Purchased a small part of my XOP position back on the sharp dip today.
Interesting. Mark Bunting on BNN just said that silver is now officially in a bull market as it has risen 20% from its’ lows and has had its’ strongest start to a year since 1983. I would feel more comfortable about gold investing if it had a tenth of the uses silver has.
I think Greece will pull the plug, they will never be able to pay off their debt. They don’t have anything to lose but The ECB does. I expect an announcement from The European Central Bank offering them cash just before the vote and warning The Greek retirees they will lose their benefits if Greece votes to leave.
the youth have already lost…………….the retirees need to suck it up….and get the heck away from the EU…….
In the US, something like 50% of young adults under the age
of 25 live with their parents, and 30% of those under 30 do.
This from a usually reliable source,
but so stunning, it’s hard to believe.
I think you are correct…..on the stats…………….j……..
It makes you wonder on the need for additional housing starts……..real estate is going to be in a pickle of a mess……………..jmho………………….j
All the extra real estate agents are going to have to reduce their commission scales back from 6-7%…….dog eat dog…………………………..j
BDC, The ECB is like the grand pater, they see Greece as their children and the more you try to control others the more likely they are too leave home as soon as they get the chance. If they would only give into them without imposing conditions they would never leave home. I learned that from my own children.
If they can do the samething for food, they will be much more fit. :->
Hello DT,
Me think if Greece gets out, then it’s “ST pain, LT gain” for the Euro.
But I will highlight one part of your comment: “they will never be able to pay off their debt” -> some countries are likely in the same situation in other continents… and by that, I mean countries much much larger in size and population than Greece…
My 2 cts.
Best to you,
LPG
Gold (SGOL) priced in miners is a sell in my book but the uptrend line is still very much intact. Notice the support being provided by the 55 MAs.
http://stockcharts.com/h-sc/ui?s=SGOL:$HUI&p=W&yr=7&mn=0&dy=0&id=p81690787640&a=385975732
I’ve been on record of saying 1350-1550 conservative gold price for the year.
Does anyone in here not including the bears think it’s possible of what stewie talked about with a powerful supercycle in miners/metals in the next four months targeting 1800 give or take by summer?
Remember many have have and are still 100% committed to lower guaranteed gold bottom in summer. What if the scenario is completely different?
Im going to give it a very low percentage chance but im going to remain open minded to it. I would think that in that scenario we would correct in october/first quarter 2016 to 1600 or so setting up the stage for 2016 and beyond to break all time high.
Hey, maybe I have an opinion too, Glen! Why can’t the bears play along?
Bird,
Im not trying to disrespect bears but I know what the comments will be. That it will not happen and one is dreaming. Im just playing with charts and looking for others insights. If you want to play along that’s fine. You have made it very clear where it is headed short term at least.
Gold is now up about 80 bucks since Bird said it was going down.
Bird is a retired banker, sometimes he reminds me of Mr. Potter in a wonderful life.
He’s nothin’ but a scurvy little spider, eh? 😉
https://www.youtube.com/watch?v=QzX5cGKN6Eg
Refresh my memory Matthew. Which comment is that?
PS….gold is going down buddy.
Hello Glenfidish,
Personally, I have no idea about this 1800 for the next 4mths.
But the way I’d look at it, from a FUNDAMENTAL standpoint, is that to me, for this to occur, there would need to be a serious dislocation in some markets/asset classes somewhere else.
Put it in other words: if someone says to me ” gold @ 1800 within 4mths”, then he’d have to “explain to me” where/what are the “other” moving parts.
Unless this target is based purely on technicals, and then, it’s a different discussion altogether – which does not require fundamentals backing.
My 2cts.
LPG
LPG,
Thanks for jumping in on discussion. I agree that if that were to happen there would have to be a breakdown of big proportions in another sector or asset class. Could it be that equities have topped? That we may not get that 5100 Gary is predicting?
What if this sell off in equities continues to be slow and painful and then when you think the turn is coming the sell offs comes at 1000 points per day?
Its just speculation at this point from my side but im not ruling out something bigger. I believe the commodities and gold/silver itself has been way over extended on drop. If my theory of longer then expected down for metals holds true, then the up has to move much faster and “May” catch everyone by surprise.
My thoughts of the day 🙂
Interesting thoughts Glen.
Question to you:
If we were in Jan 2014 and gold had made a move from the low of Dec-end 2013, would you think the same way as you do now ?
Best to you,
LPG
LPG,
Im sorry but that question can’t be answered as I base my predictions/calculations/trends off of many other indicators. It’s not soley based on yearly gold closes etc.
Actually I could answer it. NO I would not 🙂
Not sure how long you have been following the show but many of the guys in here like Matt,j,tracey,cory,al,doc,bird, doc fan etc know that i’ve looked for all the stars to align for quite sometime.
The stars that im referring to was many indicators/ratios that needed to come together including cycles. They have all come together and maybe one hand full is almost there.
For example wti oil 35-40 was not an overnight thought. This glen had a good feeling going far back that in order for the bull to resume, wti/crb needed to head south and far. These thoughts were from 2 years ago or more.
gold/silver ratio
us dollar
euro
loonie
So my feeling today is based off of all the indicators and this last qe from ero + us qe coming soon with extended low rates is what I had in mind years ago and here we are. Im being very truthful in my answer to you. Im not a crystal ball reader and maybe I end up being wrong, but one thing is for sure, I’ve exhausted every avenue I could including each and every miner I hold and there cycles dating a far length back and I couldn’t feel more sure then that. I’ve put the work now let’s see. The low is in. I stand by that call.
Hope this helps
Glen
Glenfidish,
I’ve read your answer to my question. All noted and clear.
That was an honest question as I wanted to understand where your perspective was coming from.
I’ve been following the show since Q1 last year – I’m a rookie you know 🙂
Best to you and thanks all the details.
LPG
Lol, yeah sure you’re a rookie.
This fact isn’t getting enough mention. Gold was EUR 920 in early November, and today it’s EUR 1145. That’s a respectable 20% increase, and we aren’t done yet.
The Euro has had more than a 20% decline versus the dollar too. Same difference and you did not have to pay premiums nor would you face a tax on the gains in gold.
Not sure what charts you are looking at, but according to the ones I looked at, the move has been from 1.247 in November 2014 to 1.137 as of today. That’s not a 20% decline of the EUR against the dollar. It’s far less than that. The fact is that Gold in EUR has risen not just due to the decline in the EUR against the dollar, but also because it has gone up in nominal US dollar “value.”
I think Bird is measuring from its 2014 high. That would put the euro down more than 19%.
Indeed I was measuring from the high.
Oh I see. You made a non-sequitur comment.
Hello Birdman,
I wished to add a few words of comment on what you just mentioned about the premium to pay when buying gold, and the tax on gains…
1) Re: the premiums to pay
If I wanna buy stocks, I have to pay brokerage fees – I even have to pay to have live data feed.
If I wanna exchange currencies, I pay a commission to the currency exchange place.
If I wanna buy a house, I have to pay a notary.
If I wanna have a bank account to put my cash, it is not rare that I have to pay an annual fee for this account.
If I wanna get money with my credit card in a country where it is not domiciled and therefore get other currencies, I will likely pay a fee.
So the point i’m trying to make here is that when buying various types of assets, one has, typically, one way or another, to pay some sort of fees. It is not uncommon. It even seems to be the rule, although I suspect we might find exceptions to the “rule”.
Where I live, I pay about 0.6% premium above spot for acquiring gold, which I don’t believe is expensive for acquiring the hard asset. Obviously, some people might think that I have no sense of reality and 0.6% IS expensive !
I would then just highlight that if I go to exchange money in a currency house, typically, I’ll end up being squeeze by AT LEAT 2%. If I want to get a sarcastic perspective, I will say that these >=2% is my cost to basically prefer one currency/paper to another currency/paper 🙂 [or plastic if I exchange to/from Aussie dollar 🙂 ]
2) Re: tax gains
Tax gains vary across countries, across asset types, and across time. That’s part of investing, isn’t it?
In some countries, there is even no tax on capital gains ! Again, that’s part of investing ( domiciliation is part of the investment process, be it a chosen domiciliation or a non-chosen one when the investor has no choice).
I suspect that you and I would agree that one has to look at potential after-tax returns on investments to be able to make choices between various asset allocation options. That’s part of investing. Finally, I would ad, as Kyle Bass quite rightfully says, that one has to look at the REAL rate of return of the investment, and not its nominal rate of return (for an illustration, let’s think about those invested in the Venezuela stock exchange and the type of returns they’ve had over the past say…2 yrs).
So to summarise and conclude.
A) to me, paying a fee/premium is part of the investing process when changing assets from one form to another (and even for changing asset within an asset class: I think about the reshuffling of an equity portfolio, which will translate into brokerage fees within the equities asset class)
B) tax on gains have to be considered… as in any investment. That’s part of the investment process
C) by not deploying cash into other forms of asset, one generates no gain (nor losses) HENCE doesn’t have to pay taxes on gains… BUT one might be losing purchasing power due to inflation (I’m talking the real one here, not the CPI fed to us by our various governments and whose definition over the past 30 yrs has changed I don’t know how many times).
Conclusion:
Given the points I’ve mentioned above, personally if I generate 20% return on something in the space of a few months… I don’t really mind paying some sort of tax on it. That’s part of the investment process.
And personally, I would prefer investing and make 20% pre-tax vs. staying long cash and generate no return (I’m not even mentioning the small loss of purchasing power to simplify matters).Maybe I’m stupid… but that’s how I see things.
Best to you, and GL to all investing/trading.
LPG
Birdman,
After a second thought, something else crossed my mind – and maybe that was your initial thought. So maybe I didn’t exactly grasp the meaning of your comment about tax gain and premium in the first place.
If you changed EUR for USD and converted back now, you’d be sitting on a 20% gain. That’s before transaction fees.
ASSUMING you pay 2% each way if YOU GO AT A CURRENCY EXCHANGE, that’s 4% for both ways so your effective return is, ball park, 16%. Then, MAYBE, it is tax free.
If you convert online via a broker, your fees might be much less, but depending where you are domiciled, maybe your FX gains will be taxable.
Where I live, I pay 0.6% each way for buying/selling gold so that’ 1.2% return. Then there are applicable taxes (or not). So that’s 18.8% return, pre-tax.
So maybe you intended to say that one was better off short the EUR vs.the USD and then convert it back. But to me, 1) that’s hindsight and 2) the difference in pre-tax returns between the 2 types of transactions are NOT tremendous…
So then, it becomes a matter of what are the applicable taxes, and as I mentioned in my previous post, that’s part of the investment process.
Best to you,
LPG
You are correct on the second post LPG. In fact I called the turn in the US/Euro trade almost to the day and exactly to the number although I don’t know if you were here at that time. At that point I bought USD which was quite fortuitous and has indeed worked better than had I bought gold. Part of the reason though is that precious metals are not an option for me where I live and can neither be imported (couriered) nor taken out of the country. They are available locally at exorbitant premiums I refuse to pay. I could have bought online through one of the physical gold firms and had them store it on my behalf in another country but it was more hassle that I wanted. Basically I just don’t like the aspects of physical metals anymore but that is more a personal thing. For me its got to be very liquid and accessible online in a format I like or I lose interest.
It’s called a gold ETF.
Hi Jane, can you elaborate on your warning? I sold my miners yesterday as the oscillators look fairly stretched on the daily charts, so I’m expecting a pullback soon. Longer term I share Matthew’s fixation on the massive volume that may have marked the bottom in GDXJ late last year. I’m no seasoned trader though…
I sold a very small amount of my GDXJ (2%) and SGDM (5%), but I think I’ll get a chance to sell higher very soon. The oscillators are stretched, but note that the MACD would have to climb another 50 to 100% to reach the readings of 2011-12. If a pullback has already started, I do not think it will last long.
Daily chart MACD that is.
I sold some CEF.A in TSX.
Sold another 1/4 of my Jan 2016 SLV calls as silver couldn’t break 18.50s today.
Same resistance as yday.
Keeping 1/4.
GL to all investing/trading.
LPG
That’s prudent and professional, LPG, I hope people are paying attention and learning.
+1 🙂
Hi Gary,
The USD Index is at 94.40. Does that exceeding of your target invalidate your T-1 pattern target?
Into the major gap now (94.50 @ 4:14 pm et).
It closes at 94.73 (small one around 100). This
may need a weekly closed gap to be complete.
Great Call by the way! You have been making a point of that for quite sometime.
Now BDC 94.73 to 100 is a far stretch.. What odds do you put on it closing and how long if it does?
Thanks and keep us always updated on gaps.
Thank you for the compliment.
I’m going to develop a ratio comparing the large
gap to the small one. This will give much better
insight into whether the small one could possibly
be considered a ‘sucker gap’ (the final gap never
to fill, which occurs often in securities).
That is a brilliant idea and im sure most in here would be really blessed to have your thoughts on that. I think most in here including myself would want to know that answer if the bigger 100 needs to close.
Thanks and keep up your great work.
“Never to fill” in the above should be modified
as “not to fill for a long long time, if at all.”
The ratio of large (94.40-94.73) July-September
2003 gap to the small (101.81-101.92) March-April
one is approximately 10:1. The financial effect
of the smaller gap is relatively nil. Considering
that it is over 7 points higher, the possibility
that it may not fill is realistic.
The question is: “When will the large gap fill?”
If not immediately, as is often the case in ‘first
tries’, it could be that the dollar will weaken
for awhile, even though it has entered the large
gap already.
FWIW
BDC,
Noted! Thank you
It’s not a line in the sand. It just needed to reach at least 94. We are now in the target zone and 30 days into the euro daily cycle. The bottom could come at anytime.
Thanks Gary.
Thanks Gary
Best,
LPG
This is what I posted earlier in the day and im sticking with it.
Matt,
We are capped today at 1304/1305 on gold
We are capped at 210 HUI
I believe we get the scenario number #3 that I posted on docs heading yesterday.
Back to back days and I expect that all gaps including gdxj fill by today or tomorrow.
Noticing a head and shoulders on gold targeting that 1283/1285 region. I mentioned yesterday that I could see it go as low as 1279 give or take and shoot up.
Lets see.
lpg, You mention a live data feed.
Maybe I don’t know what your referring to, I have live prices for gold silver plat,and palladium. Doesn’t cost anything, live prices for stocks etfs etc are on my trading site.
What is a live data feed you have to pay for?
He’s probably talking about a Bloomberg terminal @ $20-$30,000/year.
lol Matthew ! 🙂
$30k/yr is on the high side no ?
Best,
LPG
LPG,
Matt rolls with the big boys! Have you not hear yet HEHEHE.
Hey, I wasn’t TOO far off. $24,000 for one terminal in 2013 (I don’t know what they cost now.)
http://qz.com/84961/this-is-how-much-a-bloomberg-terminal-costs/
Matthew,
$24k and you want me to pay $30k ?!?!?!
You want to charge me an extra 25% ?!?!?! That’s ON THE HIGH SIDE ! 🙂 🙂 🙂
Boy…..looking forward to Glen’s $1800 gold this summer so I can pay those bills ! 🙂 🙂 🙂
Best,
LPG
I know…. times are tough man, I don’t know what I was thinking.
…Do think you can forgive me? 😐
Matthew,
I’ll say it for the record:
“You are forgiven”. 🙂
LPG
🙂
I just saw the post you were referring to. I don’t think he was talking about the Bloomberg after all. I have to pay for market data too. If I remember correctly, he uses the same broker that I do.
Hello bb,
No worries. Maybe I wasn’t clear.
Quote:
“If I wanna buy stocks, I have to pay brokerage fees – I even have to pay to have live data feed.”
What I meant is that if I want to have live data feed for STOCKS, I have to pay.
If I wanna have live pricing on Nasdaq, NYSE, AMEX, OTCBB, Pinksheet, TSX, TSX-V… I have to pay for it. This is what I meant.
As yourself, I don’t pay to have access to live pricing on some commodities. But again, I was refering to STOCKS here.
Apologies if I might have confused you. Hope this is now clarified.
Best to you, and GL investing/trading.
LPG
thx lpg, you trade more than I do, lots I don’t know about.
You guys must get more than I do I guess, I just get oil currencies and metal.
bb,
I guess that it all depends on what one wants/needs in terms of live pricing, and then it’s about if the data is free or requires a subscription fee – and of course, ultimately if one is ok for with paying the subscription fee.
It’s “a la carte” so to speak…
Best to you,
LPG
Lots I don’t get, copper,graphite,tungston ,wheat etc
All gold tards kneel before the master http://armstrongeconomics.com/2015/01/22/can-gold-continue-to-rise/
Don’t think so. I think I’ll leave the kneeling to you troll tards. Don’t forget you’re knee pads 😉 .
Are you upset because your idol didn’t get into gold/silver or the miners at the low?
oops, the Savage gets yet another top-tick $USD call, WRONG. ho-hum
obviously currency top-ticking is not your forte, particularly the $USD
The long-term $US index data I’ve got shows
a 50% retracement, from the March 2008 low,
to be 100.185.
The only remaining gap in the data available
to me is between 101.81 and 101.92. Making
this simply 101.865, the difference between
filling the final gap and the 50% retracement
is approximately 1.68 and considering current
happenings, this is nil; however, it suggests
some resistance in this region.
The Greek vote may be used as window dressing
for whatever tactical or strategic move which
the banksters have in mind. A near certainty
is that for them to do anything good for the
common folks, and to do it correctly, would
be akin to a ‘two-headed black swan’ event.
We “live in interesting times.”
From the more recent 2001 high of 121.02,
the 50% retracement is at 95.86, and this
could be thought of as the beginning region
of stiffening resistance to upside moves.
BDC,
Does the 94.78 I believe gap need to be closed on a weekly?monthly?
Same with your 95 and 100..Weekly or monthly?
Thanks in advance.
Howdy Glen,
My thinking is that the weekly is more important
for long term analysis than either monthly or any
longer duration, e.g. so much is too often lost in
in monthly charting (but it is useful).
Yes, although the large gap is effectively closed,
I will await the weekend for proof positive. The
pre-market high was 95.48, followed by 94.97
at 9:31am (‘real time’).
I agree, BDC. All are useful but the weekly chart is most important to me, too.
BDC,
Thank you for that summary. It’s great to have your views on board..
keep us update.
Thanks
Told you all to short these metals. Back to new lows soon.
Yes you did, and anyone that took your advice lost money. You also said to short GDX when it was lower.
Let me count all the times you said gold would go higher but instead it declined. You should not throw rocks in a glass house Matthew. Criticism of others does not look good on you.
You won’t find one instance in which I told anyone to go short or go long for a short term move. Not ONE. There’s a big difference between saying “I THINK gold could go to such and such by the end of the year…” and “Go short GDX and buy oil now.”
I share what I THINK and, UNLIKE YOU, I share some of what I actually do.
Tom’s comment warrants criticism. He was wrong with his call and now he’s taking a victory lap!
Example: This is what I said hours before silver bottomed at 14.15…
“I don’t believe the low will take as long as Gary thinks since I don’t think the vote surprised any big or smart money. The scared little guys will sell most of what they are going to all in one day.”
And…
“Based on weekly and monthly closing prices, I think Friday was the low for silver. Could December 1st mark the absolute low?”
http://stockcharts.com/h-sc/ui?s=$SILVER&p=D&yr=1&mn=0&dy=0&id=p78918671856&a=378548449
I was right on all counts but notice that I said “I think?”
We all know what you are trying to convey when you say “I think” so your feeble excuse is just a slippery way to try and get off the hook after the fact.
How can I get “off the hook” when I make my actions public?! I told everyone just yesterday that I only sold a tiny amount of GDXJ and SGDM. So what do you think that means for me today? Let me help you, it means paper losses ya two bit delusional troll!
Lot’s of room to go higher here:
http://stockcharts.com/h-sc/ui?s=$BPGDM&p=W&yr=7&mn=0&dy=0&id=p28046751388&a=384167210&listNum=1