Doc’s opinions on Gold and on Theralase
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I certainly hope that a breakthrough, at least of sorts, will happen.
A relatively large test for GLD now.
Will strong support at 114.61 hold?
Hi Doc, you buying vix yet? Thanks in advance.
Funny you would ask—probably later this week. The next move down below the last intraday low.
Here’s part of Guiliani’s speech condemning the Islamic traitor in the Whitehouse.
https://www.youtube.com/watch?v=E0hUtumtQpA
At last a true American speaks out.
I actually listened to the entire speech on Sunday.
ENERGOLD DRILLING………..UP 10% TODAY………….anybody watching this stock…thanks J…………….
I noticed energold was top on kitco’s list.
Here’s the second part of Guiliani’s speech:
https://www.youtube.com/watch?v=HYBTv1Z0U18
thanks , I did see this on kitco, and was just wondering if anyone else might be following , thanks for the follow up……and I enjoyed the Guiliani segment……………..j.
Giuliani is pretty serious in his convictions re: the president isn’t he!
Yes, he is seems to be pretty serious…………I hope he is both serious and truthful
The latest thing the traitor Obama is pushing; the Trans-Pacific Treaty,
is an unconstitutional abomination.
Obama is not a moron, as suggested by Giuliani.
He is an Islamic-loving, American-hating Marxist, who is destroying the U.S. bit by bit.
Sorry, folks……that’s how I see it.
If it walks like a duck. If it talks like a duck; it IS a duck.
moron, without an American birth certificate, or at least a real one……………….lol
CFS…well said…unfortunate for the U.S…….
Same news ! The prime minister of GREECE IS A ATHEIST ! Sooo ! Cheating and lying is no problem !
And him wounds to talk to the POPE ! HAhaaaaa !
No hope for the people…………
He’s a marxist too.
could he be an M and M………………moron Marxist or a Muslim Marxist……..PBJTLong
It would not surprise me in the least that Golden Dawn will become popular enough in the near future and that they will form a government. Then they will have a Greece for the Greeks.
Interestingly, the gold price action today since the breakdown to $1190 is uncannily similar to a small scale version of the entire rally and correction since November 2014, real self-similar fractal stuff seen on the charts.
Gold also broke down today with respect to its recent rally uptrend channel and also broke down below $1198 to go back into its longer term downtrend as Gary Wagner on Kitco described last week
Yes, Gold did break down today below $1198, which violated Gary Wagner’s potential retracement level. That puts 1187 as the next turning point as Rick Ackerman forecast. 1180 is also a large support zone.
Great link to the article as well Silverbug Dave! Lots of interesting perspectives.
I thought about 2/3 of the way down that the article that referenced the $890 top in gold from 1980 would be the 61.8% retracement level from the 1999 target of $252.80 (from July 30th, 1999, and then intraday July 20th, and Aug 25th) – the 1920 most recent top from overnight trading Sept 5-6, 2011. $890 seem like it would be the final line in the sand if the correction was to get that bad and go to a 61.8% Fib retracement this spring/summer. That would be pretty severe, but still in the realm of possibility.
Jim Rogers uses the basic 50% retracement from 1920 @ $960.
I personally see the descending targets where a turn could happen at $1187, then $1180 in the near-term. If we go down further and bottom with the commodity complex this spring/summer, then $1137 will be tested, then $1044.70, then $993.20 as the lowest I think we’ll likely go. My final backstop just because $890 as the rationale and TA in that article is relatively sound, the old 1980 prior peak would carry a huge amount of weight in sentiment and for placing stop loss orders.
Interesting thoughts and thanks again for sharing the link Silverbug.
$891 happens to be the 233 month EMA.
Yes, there seems to be a few different factors that would point the $890 zone as very strong support. That still sounds like a really low gold target, because that is way below the cost of production, but possibly with the currency exchange and low oil prices some companies could still survive if that was just an parabolic move down and then a recovery back up over $1000+. Personally, I would be happier to see $1044.70 or at the worst $993.20 hold strong and then reverse at the low in the next few months.
It is also a possibility that the lows this summer in the miners may not go below their November 2014 lows, as the miners are dancing to the beat of their own drum. (and rightfully so, they are businesses, with things that can be a credit or a debit to their value depending on how they are managed and the quality of their projects).
I am confident that the miners (and silver) have bottomed. With the rising real price of gold over the last several months, I think smart money will continue to accumulate shares on dips.
For the short term – the July 30th 2010 trough of $1181.40 looks like an attractive entry point (unless gold bounces off 1187 really strong as Rick Ackerman targeted). I’m ready to go long this week.
I think today could very well have been the low for now. I hope so, because I just got what I call a “sell the rally” signal on gold that needs to be voided! Luckily, the technicals support a rise right now or very soon.
http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=1&mn=0&dy=0&id=p93359124274
Cheers, Shad. Actually the link was to an article that I wrote myself out of pure fascination for this annoying market!
I would agree with what you say about $890 as a final line in the sand because it would give a 35 year symmetry to the gold action.
My worst case scenario would be a decent but failed gold rally on the next dollar bear market probably between 2016-2024 and then final lows around the year 2030, as per the market action of 1980-1999 with the failed rally topping out in 1987. I don’t really expect this, because there is too much unfinished business from the bear markets of 2001 and 2008 and excessive debts worldwide.
This chart now has the floor of the current downtrend channel near $1182 so a bounce from $1182 would just be a possible bounce up within that channel. An upmove to $1220 is needed to get out of the downtrend:
http://1000gold.blogspot.co.uk/2015/02/progress-of-gold-chart-not-good-but-not.html
I just can not see these charts being effective or important when they are MANIPULATED…for the umpteenth time…………………SIDELINED Without a CHART…………………….PBTL..OOTB….OOMM…..
Why would you play a manipulated game? when you go to the casino do you play the game with the largest pay out and least likelihood of winning? Any gold investor who claims manipulation shows how stupid he is. Always bet with the house.
IF YOU gamble , you must be insane………….the odd are with the house……, considering manipulation awareness, lets you avoid stupidity……….lol
Marky couldn’t be more wrong. Manipulation equals opportunity not total control of the asset being manipulated.
good one…………………..:)
I do not think marky, wants to mess with the PROFESSOR……………………….lol
Peter Brandt would not agree with you. He described gold in his article ‘The History of Gold Charts Gold – The Ultimate Charting Market as and I quote:
“Gold is the purest of all markets to trade. This is probably because there are no real fundamentals in Gold. Nearly every ounce of Gold ever mined still exists. Gold is worth what the composite of all market participants think it is worth at any given time.”
His link is here:
http://www.scribd.com/doc/244612133/Chart-History-of-Gold-Market
its amazing this guy can see whats up for the next 9 months when i dont know what is going to happen tomorrow. what if russia gets out of hand or isis starts attacking our malls what if economy goes south fed cant raise rates or they would have already . and so on and so on. yet tghis wind bag can tell you whats going to happen in the next nine months
Please learn how to spell correctly gerard. Thank You
You might wonder how gold lease rates and bullion bank sales are being managed since there’s no published GOFO rate. Not the least of which states that are seeing negative rates have completely avoided any interest rate swaps that have anything to do with gold leasing. Just the same, a large, sudden decline on low volatility suggests that leasing is still in vogue:
The daily chart looks for Theralase looks good. I guess I should have bought it:
http://stockcharts.com/h-sc/ui?s=TLT.V&p=D&yr=0&mn=11&dy=22&id=p20789462612
Matthew , I wouldn’t be surprised if it pulls back again soon. If it does, it looks like the BBs may narrow considerably and I may add to my position then.
Thanks, Doc. I’m getting the feeling that it wants to go higher short term before it pulls back meaningfully even though it has been on a daily chart “sell the rally” signal since Jan. 30th. The weekly chart shows a strong “buy the dip signal” even though it looks like a “standard” MACD sell signal is coming soon.
You could be right. It wouldn’t surprise me at all.
Really glad that I did some time back!
Ex-Plunge Protection Team Whistleblower: “Governments Control Markets; There Is No Price Discovery Anymore”
One year after the great stock market crash in 1987, US President Ronald Reagan launched the “Working Group on Financial Markets.” Conspiracy theorists believe, however, that the real task of this committee is to protect against a renewed slump in the stock market. In the jargon of Wall Street, the working group is known as the “Plunge Protection Team.”
One glimpse at a few days during 2007/8 and it is clear that ‘someone’ with infinitely deep pockets was able to support markets on several critical days – though, of course, anyone proclaiming intervention was propagandized away as a conspiracy theory wonk. However, as Dr. Pippa Malmgren – a former member of the U.S. President’s Working Group on Financial Markets – it is not conspiracy theory, it is conspiracy fact: “there’s no price discovery anymore by the market…
Rick Rule likes palladium and platinum more than silver; Eric Sprott likes silver. I’m with Sprott. Rule also still thinks that we haven’t had capitulation in the juniors, but I think we have —in some more than others, of course. I don’t think he should be looking for a year 2000 style capitulation since that was the end of a long secular bear as well as a long cyclical bear.
http://sprottglobal.com/thoughts/articles/rick-rule-we-have-not-seen-capitulation-in-natural-resources-yet/
Agree, 20 years bear market in silver wiped out most primary silvers mines and made all of remaining ones money losers. It is also the time period in which western governments dumped nearly all of their silver inventory, around 10 billion ounces. It can not be repeated. In the next few years, base metal producers have to cut production due to grossly over producing their products. By-product silver will be less.
I do not think RULE is as sharp as Sprott…………jmho
although I do like platinum…………but, I do not see platinum in the same category as silver……………jmho
ANYBODY……following ………ROMARCO MINERIALS…………….thanks……………..j
got my reply…………thanks…………
Big announcement on fund raising by Theralase where shares issued “only in Canada”. 25% drop in US shares. What is going on?
Dave, this is typical action after a company announces its intention to raise money. They intend to issue between 9 million and 18 million shares at 44 cents for a potential 20%+ dilution to shareholders.
If you believe in the company, this is not a reason to sell. Management did right by shareholders to raise money now after a good rally. Had they done so last fall, far more shares would have had to be issued in order to raise the same amount of money. Imagine 20-40% dilution done at 20 – 25 cents.
Matthew:
Thanks. So it is not the exchange difference between US and Canadian, but the dilution. No plans to sell as the company appears to be the real deal.
Hopefully Theralase technology combined with early detection along the lines of Stanford breakthroughs ( http://www.eurekalert.org/pub_releases/2015-02/sumc-cdr021815.php ) will change the whole climate in cancer cures.