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Perhaps a slight change in Rick’s attitude (short term) on gold?

Big Al
July 31, 2015

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Rick is, at this point, agreeing with Gary regarding short term trading possibilities with the gold sector.

Discussion
19 Comments
    Jul 31, 2015 31:16 AM

    Definitely a tradeable rally Rick. I agree 100% and am targeting Monday as the start. But I could be nuts. Who the hell knows eh? The charts just look to me like they are about to turn positive on GDX and GDXJ.

      Jul 31, 2015 31:44 AM

      Charts will give a better indication early next week.Technical indicators are still bearish for gold which suggest that a lower low is possible next week.

        Jul 31, 2015 31:16 PM

        The CRB Index looks like it may be doing a double bottom just over the 200 dollar mark as of Friday. If that turns out to be correct then we will have a bullish outlook in the coming weeks for the commodity sector in general and a weak dollar will ensue. I would expect gold to finally see its bounce as the consolidation period below 1100 dollars may be at an end. While the final bottom for gold may be far from yet realized I suspect miners and metals will now rally.

      Jul 31, 2015 31:36 PM

      A Bird Listener – In a comment you made just 20 minutes earlier, you were bearish. Which is it? Or do we have to wait until next week to find out? 😮

      On July 31, 2015 at 9:56 am,
      A Listener says:

      GDXJ has lost 55% in a year……GDX yearly performance is a loss of 49%. I think for my money I will stick with the bears…

        Jul 31, 2015 31:08 PM

        Bearish for the past 4 years. Leaning bullish for Monday. Is that so hard to figure out Mr Genius?

          Jul 31, 2015 31:30 PM

          At 9:56 this morning the Birdman Listener said: “I think for my money I will stick with the bears…”
          At 10:56 this morning the Birdman Listener said: “The charts just look to me like they are about to turn positive…”

          Just having fun with your flip-flopping, that’s all.

            Jul 31, 2015 31:45 PM

            Man, I just love your sense of humour. You are pretending you don’t know the difference between a day-trade and a falling pricetrend. But we know you are a lot smarter than that Matthew.

            Nice try though!

      Aug 02, 2015 02:52 PM

      I agree that there will be a tradeable rally, but I think Bob UK had a good point about China’s PMI numbers on Tuesday potentially affecting commodities one way or another. In addition, the dollar has been a little stronger than I’ve been expecting, and I think this may be due to a flight to safety with the USD with the crashing Chinese markets, Greek stock markets falling after opening for the first time in 5 weeks, and the struggling emerging markets. I do think the USD will head down to 94 in the next month or so, and that commodities will pop in August.

        Aug 03, 2015 03:49 PM

        In the next month or so? You really think so? I personally believe that right now the “flight to safety” of the U.S.$ is a very strong sentiment.

    Jul 31, 2015 31:28 AM

    Biiwii on “the Martin Armstrong elephant in the room”.

    I find Biiwii almost as ambiguous as Armstrong – but his grammar wins the prize.
    Have read this 3 times and still couldn’t produce a proper summary if called to do so.

    http://biiwii.com/wordpress/2015/07/31/armstrong-phenomenon/

      Jul 31, 2015 31:59 AM

      Thanks, that was interesting. For trustworthiness, Biiwii wins in my opinion, too.

      Jul 31, 2015 31:04 PM

      QUESTION………IRWIN & Matthew …….how long have you guys been following this Biiwii……………..thanks………………………………………………….jootb..ffm

        Jul 31, 2015 31:23 PM

        I’ve been reading But-It-Is-What-It-Is for a year or so. Haven’t kept track of his hits and misses, but when he makes a wrong call, he says so – from what I can tell.

          Jul 31, 2015 31:37 PM

          Many years for me, but never as a subscriber. He knows his stuff in my opinion.

      Aug 02, 2015 02:48 PM

      Interesting article. I’ve never hear of biiwii before so thanks for posting it Irwin.

    CFS
    Jul 31, 2015 31:42 AM

    http://globaleconomicanalysis.blogspot.com/

    It was the NON-Greece bailout occurring that caused movement in Euro and thus also the US Dollar index.

    Jul 31, 2015 31:15 PM

    If PM prices are determined by investment banksters using derivatives, how can you possibly predict the future based on a flawed history?

    Jul 31, 2015 31:46 PM

    MAY BE…….is the key word AL………CNBC IS BS.

    Jul 31, 2015 31:51 PM

    The one thing missing for some time now for assessing the bullion markets are gold lease rates. The other one I would choose is the propensity for backwardation in gold prices:

    http://quotes.ino.com/charting/index.html?s=NYMEX_GC.U15_M21.E&v=dmax&t=l&a=0&w=1