Are we entering the bankruptcy phase for gold?
Gary kicks off today with his comments on gold. After breaking the trend line earlier today Gary feels that we are moving into the bankruptcy phase which will result in the best time to buy gold and gold stocks in a long time… possibly ever.
Click download link to listen on this device: Download Show
First resistance area for the US$ index is taking place now
http://stockcharts.com/h-sc/ui?s=$USD&p=D&yr=0&mn=5&dy=0&id=p64740680843&a=409776590&listNum=1
Your intermediate bicycle is wobbly. Are you sure your bottom is not wrinkly?
So we have Rick A calling for $800 gold and Gary a bloodbath is coming phase. I guess I’ll sit back and watch B.M. toss rocks at these guys because he’s the real gold expert, should be good for a few giggles
Weekly gold, lower highs, lower lows = bear market for 3+ years
http://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=3&mn=3&dy=0&id=p11397198457&listNum=1&a=409956100
ojj:
Of course you know that at bottoms in anything the vast majority of people are calling for lower prices. At major tops for anything the vast majority of people are calling for higher prices. That’s how we know we are at a top or bottom.
Rick Ackerman has an opinion that gold will go down to $800. Birdman has a similar opinion, Gary thinks it will go much lower. They have all the right in the world to that opinion. It doesn’t even matter if they are wrong. The vast majority are going to be wrong at every turn. That’s what contrarians are looking for, what is the consensus view?
My “OPINION” is that we bottomed in early November. I said so and described exactly what could happen in advance. In the middle of November I wrote another piece and gave more facts as to why I thought it was a bottom. I put it in writing so those such as you could stand by and throw rocks even though I, too, have all the right in the world to an opinion.
Now I really hate to point it out but it is a fact that so far I am right and they are wrong. That may change but it hasn’t in 6 months.
We have had the longest bear market in the last 30 years. One day it will end and most of the pundits will be wrong. A few will get it right. I nailed it on April 25 of 2011 an I may well have nailed it in November of 2014. Not that you could ever admit you are dead wrong again.
That’s a real nice story Bob, this is what I traded off, imagine that we were both right
How’s that very old, extremely wrong Dow crashing call I hate to point out working for you Bob, and your telling me I can’t read a chart, well your blind, blinded by your ego/opinion
http://stockcharts.com/h-sc/ui?s=%24INDU&p=D&yr=6&mn=5&dy=0&id=p61030174385&listNum=1&a=409708180
Too bad you didn’t follow Marty’s advice
Try to open your mind and be like a trader just following the trend and the capital flows. The market is always right – it cannot be wrong. Only we are wrong for when the market does something we did not anticipate our analysis is at fault – not the market.
ojj: You are a trader. I am not. You wouldn’t understand the difference, you don’t even understand the difference between Martin Armstrong being a goldbug in action yet badmouthing goldbugs. I badmouth gold permabulls but I know the difference and neither you nor he does.
Gold is going to be part of the new financial system. The dollar will be a worthless rag by then.
Trade away and keep your head in the sand. Or wherever you stick it.
Bob, seriously man lets cut the crap, yes I’m a trader so I rarely ever get caught with my feet flat but of course it happens especially in these crazy times, small losses.
I’ve made fantastic gains realizing US equities have been in a bull market for years, you have not, yet you have the stupidity, ignorance to tell me my heads up my A**
You should be the poster guru for the best example of having your opinion keep you away from great gains, sad, really sad Bob
The poster guru, what not to do
Try to open your mind and be like a trader just following the trend and the capital flows. The market is always right – it cannot be wrong. Only we are wrong for when the market does something we did not anticipate our analysis is at fault – not the market.
ojj:
I neither buy nor sell the dow. Why would I care what it does or what you do? You seem determined to criticize everyone who invests differently than you. That’s pretty stupid. If you are right 51% of the time you are doing far better than average. But you want to demand that everyone trade exactly the way you do. Life doesn’t work that way.
I’m doing fine, I bought gold at $260 and silver at $4. I’ve been trading longer than you and never lost money on silver or gold. In 2011 I was selling to beat the band.
Bob…don’t waste your time on ojj…it’s like trying to educate a brick wall…I appreciate and value your opinion on gold….we still disagree when it comes to Israel but in time that may get ironed out too….regards…
Actually I think the metals are about to enter a bankruptcy phase, not a bloodbath phase. A bloodbath phase is defined as the last 5-7 days of an intermediate decline.
My best guess is roughly 1000.
Might explain the M&A activity and mine sell offs to raise capital. Here is a story on Barrick.
So you think you’re a big deal? — Mineweb.com May 27th 2015
http://www.mineweb.com/regions/canada/analysis-so-you-think-youre-a-big-deal/
Allied Nevada was the canary in the coal mine. The first of many.
Just a contrarian view.
“In the interest of telling the whole story, I must point out it’s incredibly reductive to compare the monetary policies of the late 1970s and the Internet bubble to the current environment. Though some never believe in the phrase “this time is different,” fighting through a global financial crisis with the help of quantitative easing around the world is indeed a new chapter in central banking — and inherently different.
But taking into account those caveats, there is historical evidence of gold rising significantly even as rates rise and the dollar moves higher. Why not this time, indeed.”
http://www.marketwatch.com/story/gold-can-glitter-if-stocks-hit-the-rocks-2015-05-28?page=1
Gabriel don’t think its a contrarian view at all, yes rates can rise which will of course but a bid under the US$ as the central bank of Europe and Japan devalue their currency with QE and as the $ rises so can the US equities, just look at the last run the index had to 160+ and 120 the US equities ran higher as well….gold who knows, nobody and that’s why watching the chart will signal if in fact gold will rise with the $ and interest rates, time will tell and the chart will confirm it
Good luck
Everybody are expecting lower low in gold. That’s why i say it is a contrarian view.
But look at this chart:
https://www.dropbox.com/s/gnyjpzzfpr1anih/GLD-UUP.jpg?dl=0
good luck to you
JJ,
do you still own shares of Bitcoin ?
never owned bitcoin, sorry
shares? you must have meant bitGold, yes my Vegas account is still holding 1000sh at $4.21
Sorry, I meant BitGold.
Reading for you:
http://seekingalpha.com/instablog/1309921-roy-sebag/4042506-roy-sebag-and-josh-crumb-view-on-bullionvault
Thanks, can’t apply indicators to a 10 day old chart, lol so reading the market spin is all we have
ojj:
Would this be from the person you claim is some kind of permanently optimistic, always touting the metals, hyperinflation nutcase sounds like? I wrote it in May of 2011.
So as I said on April 25, 2011,
Parabolic charts mark tops and brutal declines.
A record high bullish consensus marks tops
This time is never different, silver “GURUS” or not
For those buying the Sprott Silver trust on April 25, you are down 44% in ten days. Silver is the most dangerous commodity to invest in and if you love the climbs, you will hate the waterfall declines. Silver is the best short in commodities again.
For those who think buying silver is an act of patriotism, you are down a mere 30% in a week from the top at $50. Wasn’t it Samuel Johnson that said, “Patriotism is the last refuge of a scoundrel?” He got it exactly right. I know of only one valid reason to buy gold or silver and that’s to make a profit. But what do I know; I was just the guy warning 6 weeks ago that silver was getting frothy?
Of course, if you were buying silver to take down JP Morgan, you had another silly reason to own something. Did you really think you could outspend Jamie Dimon? A good friend of mine, Puru Saxena was mocked by someone having a cartoon made with his name on it showing he had his head up his ass for daring to predict a bloodbath in silver. I guess we all know just who it was that had their heads up their asses.
Silver is a commodity. It shares some monetary aspects with gold but like gold, it is not money for now. Maybe it will be someday. But when all the cheerleader idiots out there try to turn it into some kind of weird cult or religion like the Nasdaq in March of 2000 or Real Estate in 2006, you know it’s time for money to move from weak hands into strong hands. When the bozos writing about silver start talking about how silver is moving into strong hands at $50, you know it has to be a full moon and either the world has lost its mind or they have. If buying silver at $50 is the act of strong hands, doesn’t that make buying silver at $4 the act of weak hands. Sorry guys but you have life in a blender.
The market got so stupid that people were paying Eric Sprott $60.50 an ounce for paper silver on April 25th and he was busy selling his paper silver and buying physical silver. Now he has a loss on both. I suppose him selling silver makes him a “Traitor” as well because we are no longer able to express an opinion about silver without the thought police slandering us.
When the village idiot starts touting anything, dump it.
I think traders with bearish sentiment have the floor and are just engaged in fighting the tape with no positive outcome as far as gold prices in $U.S. are concerned.
Can see a low volatility melt up in store:
Just got back from a nice vacation in Seattle/Portland, and see the markets are just as bi-polar as when I left a week ago.
While I was traveling Scorpio Mining changed it’s name to Americas Silver Corp.
Good to hear from you Shad. I was wondering where you have been. I love the Portland area. We used to drive down there just to walk the dogs in the summer. You know….the motorhome thing. Nice spot to camp out and friendly as just about anywhere you might go.
Yes, it was a great trip and my lady and I ate like champions, in both Seattle and Portland, saw great Japanese and Chinese gardens, hung out on the river in Portland, the Puget Sound & Lake Washington in Seattle, majestic wooded areas in both places, and the mountains in WA. We had our fair share of night-life as well 🙂
Now, back to staring at computer monitors…….living the dream….. 🙂
The monitors are making me cross-eyed the last few daze. My mind feels a little loopy too but I am still sick and the meds keep me sleepy. Good to hear your trip was a good one though. One of the things I really miss from back home is all the great restaurants and cultural foods. Over here its kind of the same thing day in and day out. Man, I really miss Thai and Chinese cuisine….Indian too. Guess I have to make it all myself from scratch.
Yep, we had Thai several times, Indian, Greek, Moroccan, Italian, French, Chinese, paired with numerous local wines, beers, coffees, and teas. Delicious!
Hope you get to feeling better soon, you’ve had a hard time shaking that bug, but just consider it an upgrade for your immune system. Cheers.
Suppose so. This is week three now and my wife just caught it too. She is miserable and arguing with me the last two days but I know its not personal. She just feels crappy…sounds like you and your gal had a great time. Are you married?
We’ve been living together for 15 years and dated on and off for 3 years before that, but not “officially” married. Hope you and your wife getting to feeling better, and if she’s coming at you hard remember to “Duck & Dodge”. You make eye contact, shake your head up and down (aka you’re actively listening) and then dodge the comment without trying to be Mr Fix It. Easier said than done : – )
market anthropology may 26
Tuesday, May 26, 2015
Currencies at a Crossroads
With the final sessions of trading on deck for May – and following a week in which the US dollar index rallied over 3 percent, the USDX arrives at another potential crossroad: Continue heading north above milepost 100 or get back on a reflationary road to the southeast.
Technically speaking, considering the relative performance extreme reached in March, we remain in the later camp and continue to contrast the 1985 secular pivot as a roadmap through the prospective turn.
To date, the bounce has taken place proximate to where momentum in the historic pattern alluded, with the 1985 market retracing 50 percent of the initial downside pivot.
Through Tuesday’s close, the USDX has retraced 61.8% of the current move.
Euro weakness – the largest currency component (57.6%) of the USDX, has resurfaced as a resolution in Greece remains elusive, as time runs out for the troubled nation to avoid a possible default and make the first of four payments in June to the IMF next Friday.
Recently, there’s been talk of allowing Greece and its creditors more time to negotiate a final funding arrangement without default, by allowing Greece to bundle the four payments together at the end of June. However, this extension will only be feasible if there is credible confidence communicated to the markets that both parties were working towards a tangible and realistic resolution.
All things considered and as described in previous notes, we believe at the end of the day it’s overwhelmingly in the best interest of the EU and its strongest economy – e.g. Germany, to compromise with Greece and avoid a fracture in the monetary union. Considering the election results in Spain this weekend that echoed Greece’s sharp pivot to the left last year – and the reality that there is no firewall tall or broad enough to contain contagion if a larger member state such as Spain would look to follow suit – we expect the gamesman and brinkman-ships to set sail towards calmer and more considerate seas.
As such, we will be looking for early strength to be sold in the back half of this week as markets set their sights on June.
On a tangential currency slope and making up the second largest weight of the USDX (13.7%), the yen also remains at an important crossroad: Break long-term support – or find traction and strengthen from the correlation extreme extended with the Nikkei over the past two years.
On Tuesday, the yen traded below long-term support as the US dollar broadly strengthen against all 16 major currencies. While certainly not a vote of confidence towards our own expectations that the yen will strengthen from the correlation extreme with the Nikkei; from a relative performance perspective, the yen remains stretched by more than 2 standard deviations below its 45-year trend (h/t: Will Slaughter) – and completing what we perceive to be an inverse resolution of the correlation extreme witnessed during the financial crisis (see below).
In view of this, we continue to favor a position in the yen, predominantly as a hedge of equity exposure to Japan. Similar to the resolution of the correlation extreme between the yen and the Nikkei in Q1 2009, it wouldn’t surprise us if the previous outperforming asset (yen 2009/Nikkei 2015) initially underperforms as the markets transition to a new positive correlation relationship.
The yen has audibled from the 1998 comparative trend, by breaking back below at the vertex of the descending range it remained in over the past 5 months. Our biased suspicion is that the short-term breakdown in the yen and breakout in the closely followed USD/JPY exchange rate will be ephemeral, as those late to the party buyers of the breakout will add fuel to the prospective reversal. This brings to mind the old technical market adage – from false moves come fast moves.
That said, gold and the precious metals sector has closely followed the trend breaks in the yen over the past four years, with the three month rally recently turning down last week with continuation through Tuesday’s close.
Should the yen continue to decline below long-term support, it would strengthen the expectation that new lows in gold and the broader precious metals sector were forthcoming.
at 7:47 PM
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All you need to do is look at Coal and Iron Ore to see how long it takes major mine closures and production ramp downs to occur given persistent low commodity prices. Gold and Silver are lag about a year behind in the bear cycle so I am guessing we wont see the major widespread closures and ramp downs until late this year and early next. Not to say the price of gold and silver cant start building at the same time. Closures and production ramp downs are already being planned for implementation and will occur no matter what happend. The only exception is if we see a major MAJOR black swan but even that will likely crush gold and silver temporarily. Oil is not a good proxy as it is much simpler to reduce or shut down production (literally turning a valve and terminating contractor). Shut downs are coming and in a big way. Gold miners (not all) but most are bleeding badly and out of band aids.
The breakdown Gary speaks of in the pm’s index HUI example, $GDM as well
Bloodbath will test 100 perhaps, have no idea as 160 will have to fail first, one support zone at a time, a death of a 1000 cuts
You must have on a massive short position Gary for your subscribers backing up your bloodbath call, good luck that will make you and your followers a lot of % gains if your correct
http://stockcharts.com/h-sc/ui?s=$HUI&p=D&yr=0&mn=8&dy=0&id=p41303883621&a=409959133&listNum=1
I rarely short. It’s hard to. Make money on the short side. Markets go down differently than they go up.
Got to love those Fed lovers while the price of gold is up Y/O/Y in every major currency. Averaged 10% return on capital EVERY YEAR since the year 2000 in EVERY MAJOR CURRENCY seems to be lost on these Fed devotees:
http://goldprice.org/
Yes but you could have said that in 1982.
Any bounce since September 2011 should have been an opportunity to get out of the way of the gold downtrend!
Gary sounds like he is looking for a stock market move similar to the 1987 crash.
Have not heard Gary sound so negative on gold in a long time. The chart does look weighted more heavily towards eventual declines below 1150 but its a long time coming as it dipsy-doodles above and below the 1200 price level. I think what we are looking for now is signs that a decisive change in direction has arrived but I don’t see it as too imminent yet.
I’m not saying this just to disagree with you Bird but I’ve heard Gary suggest the bankruptcy phase is about to take place a couple times this past year and its actually turned out to be another pop zone for gold, lets face it until gold has a weekly close below $1157 its lowest weekly close this March suggesting a major fall is premature, although all my indicators have had short positions in gold since May 19th $1220 level and none are turning positive to remove cover shorts, yet
Agree.
It’s always been later this year when gold moves down into it’s 8 year cycle low. Folks are confusing a bloodbath phase with a bankruptcy phase.
A bankruptcy phase is a long drawn out process where many overleveraged compnaies go out of business. We saw that for the general economy in 2008 and 2009. We are just starting that phase for gold miners with Allied Nevada being the canary in the coal mine.
A bloodbath phase is the final 5-7 days of an intermediate decline.
Weird thing is, is that the creditors are still keeping the mine operational so all Allied Nevada is for now is an example of a poorly managed company or poorly timed development. The mine is still in operation and deemed feasible by those in control.
http://www.mineweb.com/news/gold/harmony-in-talks-to-cut-over-3000-jobs-num/
Here is the first major closure on the horizon. Finally!!! Many to follow.
so, Gary if someone already bought some of the junior mining stocks are you saying sell them at a loss and wait to re-purchase? What about short positions on the general market should they be held?
Ron,
You can always looked to hedge your mining shares by using the GDX or GDXJ etfs. If you are concerned about them going down and don’t want to sell them, you can buy yourself some protection by purchasing GDX or GDXJ put options, preferably LEAPs.
Not investment or trading advice, but just a traders opinion.
Good points Mark Alan.
Thanks Shad.
I just hate to see people take a risk that is unnecessary. If one were to sell their shares now at a potential loss, how would they feel if Gary’s call turns out to be wrong and the shares begin pushing higher? Hedging will keep you in the game and reduce your risk. That’s what smart investing is all about…at least that is what I was told one 🙂
stay frosty
Agreed…..better to hedge and reduce risk without trying to be the hero. Well said.
Ron,
You can not short the general stock market because of the threat of Fed intervention.
$GNX index at a key level, turn or continue to break down?
http://stockcharts.com/h-sc/ui?s=$GNX&p=D&yr=0&mn=5&dy=0&id=p72975827360&a=409963248&listNum=1
Gary can imagine how high this will go if your correct with your bloodbath phase, to da moon!
Buy signal May 18th with 25% gains to date, its digesting the move for now, bolt higher or roll over I have no idea, watching the indicators, where are you in at?
http://stockcharts.com/h-sc/ui?s=DUST&p=D&yr=0&mn=0&dy=10&id=p51772918145&listNum=1&a=409963998
Japanese Yen Breaks Down — Short Side of Long
http://shortsideoflong.com/2015/05/japanese-yen-breaks-down/
It all started in 2007 Birdman yen/gold I tried to bring it to everyones attention here a long time ago but I was peeed on especially by the chart expert himself Matthew, too funny, these so called experts will never ever learn.
Gold/yen rose together in 2007 and rolled over together in 2011 still attached at the hip, until its not
Try to open your mind and be like a trader just following the trend and the capital flows. The market is always right – it cannot be wrong. Only we are wrong for when the market does something we did not anticipate our analysis is at fault – not the market.
You were here is 2007? I had no idea you have been around this site so long.
the trend began in 2007 over a year ago I tried to highlight the gold yen relationship at yet the resident chart expert who’s opinion is never wrong about anything would not post a chart showing the relationship, Instead I was pisssed on, which highlights exactly what Armstrong points out
The market is always right – it cannot be wrong. Only we are wrong for when the market does something we did not anticipate our analysis is at fault – not the market.
JJ, if you don’t mind me butting in a little here, Matthew has done some pretty good charting and brought some good ideas to the table. Too many times to list. Maybe he just doesn’t want to answer you right now but I would cut him some slack because (despite my arguments with him!) I still consider him a very pretty bright guy. Same as you. Peace brother. Lets try to get along.
Good points Birdman. I actually weigh everything Matthew (WMK) says very heavily and think he is a really sharp guy, and offers many good links, perspectives, and I learn from him all the time. Birdman I always take time to read your thoughts or daily editorials and the same goes for Original JJ, but I don’t always comment. You 3 are all incredibly sharp, all make good points, and are much more savvy than the average investors.
It is fine to disagree with others, but when people get huffy, start the name calling, or go on personal vendettas it doesn’t serve others or yourselves.
Let’s stay classy San Diego:
Thanks Birdman.
JJ — I have never knocked your trading approach. It’s you and your know-it-all way that I knock. If you’re not smart enough to understand why your comments piss people off, then any digs at your intelligence are deserved.
Thanks Shad. Right back at you man. This is a tremendous group here. I rarely miss a day or a post unless I can’t get a connection. Everyone has an area of specialty and I always find it helpful. We all have blind spots that other guys help fill.
Absolutely!
Not at all Bird, Matt just has a real hate on especially for me because of my approach an approach that works for me for 40 years, yet he pisses all over my approach and attacks me with name calling and like you highlights I’m not an English expert, who the F cares its not a friggen spelling B trading these markets is it!! how flippen shallow is that, I could give a rats A** if the brightest guy in the room was a simpleton if he made me money who the H am I to put him down, and I have the ego
He had no interest in showing all here with one of his charts of gold/yen when I was pointing it out and that tells me/everyone here a lot about his integrity
I really understand jj. We all blow a fuse from time to time. Good work rarely gets recognition on blog sites though. Even if you are the best it few will say so and tell you. Anyway, about your writing….I can read it a lot better now that I am getting used to your style. No sweat. Just speak your mind.
I took a small position in NUGT yesterday as a hedge against my JDST position which I am in deep! Come on gold rise! Come on gold crash! lol Either way = $$$ for me.
You’re a wild man Jason. I love it. Just don’t get your NUGTs crushed : – )
Jason,
Good move on your part buying JDST. I hope I didn’t mis the move. Prolly buying that tomorrow.
I thought we were going to get a bounce today. I’m hoping the PMs start heading south tomorrow. Sure looks like the dollar is going to move up next week…
To 99 and change is my best bet. We shall see as we get closer to its top.
Fun with numbers.
OK…I just came across a chart called the CASS Ocean freight index of container exports from the USA. And guess what?…..well it bottomed at .665!
Now that might be amusing to some people here because that’s about as close to .666 as you can get and it reminds one of the S&P decline during the GFC. But is it a bottom and does it tell us anything we need to know?
You be the judge.
Wolf on Wall Street — Ocean freight index of container exports from the USA
http://wolfstreet.com/wp-content/uploads/2015/05/US-Freight-Index-exports-2010_2015-04.png
Who was on this site for a while that was constantly posting the Baltic Dry Index numbers? That used to crack me up, because while it hasn’t really been a reliable indicator of anything, I loved the daily countdown….Was it Mark?
Nope…..it was MARK CAPS LOCK
Where’s MARK at lately? I enjoyed his computer system alerts on the gold market.
Gold Bulls take note!!! Short term traders take note!
Direxion Asset Management is Closing it’s 3X Leveraged Gold ETF
————————
That’s all she wrote guys. It’s over. Time to close out positions in the 3X Direxion ETF if you are still in the game. Read the article first though so you know what is going on.
Direxion Asset Management Closing 3X Leveraged Gold ETF — PR Newswire May 26 2015
http://www.prnewswire.com/news-releases/direxion-asset-management-closing-3x-leveraged-gold-etf-300089009.html
Yes, there are just too many ETFs and (BAR) has already changed its name once (from GLDL previously), when it wasn’t attracting investment interest in 2014.
Gold investors prefer the physical bullion or GLD, and tend to be longer term holders, so a leveraged ETF didn’t make as much sense as it does in the miners, because generally those are for shorter-term trading.
Investors in mining companies have a different investing disposition than those that invest in just the metal itself; so the GDX leveraged ETFs (NUGT/DUST), and the GDXJ leveraged ETFs (JNUG/JDST) make more sense, and are quite liquid.
I also really like the weighting and portfolio in the Sprott EFTS (SGDM/SGDJ).
For Jr. and Mid-Tier Silver Miners I really like the ETF (SILJ).
Must be due to lack of interest. Volume today for BAR was 7,000 shares while its rival NUGT traded 46,000,000 shares. (6,500ish to 1) Wow.
Scratch that comment; it does NOT compete with NUGT. Duh… 🙁
Still extremely illiquid though!
Yeah, I think it was like a 3x spot price of the Gold futures market, and again, most gold investors are more long term and don’t do the speculative investing, like the mining investors are more apt to do.
When it was GLDL (prior to being BAR) it had the same disinterest from the investing community.
Wow is right. Thanks Matthew, I had not even looked at volume.
Never ignore Volume, Bird. It’s an indicator all its own.
The crash in new mine investment in Australia is now being felt around the world. This article notes the decline is now roughly 90% with more reductions coming this year. But of course the answer to falling investment and lower supply is going to be higher prices later on. I think its worth the wait but we must be patient to see how it plays out.
Turn out the lights: Australia Calls Commodity Spending Boom End — MineWeb.com
http://www.mineweb.com/regions/australasia/turn-out-the-lights-australia-calls-commodity-spending-boom-end/
Rick Ackerman – Are Treasuries the Buy of the Century?
http://financialsurvivalnetwork.com/2015/05/rick-ackerman-are-treasuries-the-buy-of-the-century/
Here’s what I think is in store over the next several days.
http://blog.smartmoneytrackerpremium.com/2015/05/chart-of-the-day-77.html
thanks Gary u da man.
Good charts Gary. That’s the general direction I expect things to play out as well.
Here’s a good interview from Palisade with Jordan Roy-Byrne on the path he see’s for Gold over the next few months and the end of the Gold bear playing out.
Great Panther Completes Acquisition of Cangold
May 27, 2015
Shares are potentially unlimited and potentially worthless. The metal in hand is what ultimately matters.
I see Gary you posted a similar chart at your web-site, weekly close is the key
Those that don’t have an open mind don’t bother looking
http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&yr=0&mn=4&dy=0&id=p05031353926&a=409808860&listNum=1