A focus on gold and the US dollar
We chat with Doc about the move in gold today and if he thinks it will continue. The US dollar is then discussed in terms of supporting a gold if it moves down.
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Franky, any link. I did not see it.
Doc, thanks again for telling me last month that TGD could go as low as .20 when it was @.27. After it closed @.20 I bought it Tue. or Wed. morning @.213 and it’s been up to .258 so far. I wish I knew how you knew it would drop to .20. You also said SLW would drop to 10 or lower. So far it hasn’t gone below 11. Do you still think it will drop to 10?
BB; here’s the scoop on SLW—-it looks like we may get a bounce here however October will tell the story on SLW like it will on a number of these stocks. The odds are that SLW still has further to fall. I mentioned to you about how TGD looked like it would bounce and it did. I notice it came off it’s high and that may have been the bounce. TGD is not going to break out anytime soon as are the majority of PM stocks. I believe that December to July of next year will be the premiere time to purchase many of these stocks.
Even if TGD goes down to .10 later this year, anyone who buys it @ .20 is going to be smiling when gold goes to 2K and TGD is at $3.
Can you give a cast iron guarantee that gold is going to 2K? Just asking 🙂
Doc,
Thanks for the perspective on the dollar. I thought to my self this morning, man I hope Doc comments on the dollar today (-: you did, and it lines up with what I’m thinking.
The dollar 20 folks just won’t give it up..
Chartster, the long term move on the dollar is still in doubt. However, I can tell you that if the dollar bulls want it to head up to their 110-120 area, they’re going to have to wait for awhile.
Hey DOC! Have you checked out the 1 year and 1 month charts on the S&P? I am know chart expert but every time it tries to climb it gets smacked back down. I think we are going to retest the lows or go even lower. What do you think?
Jason, I believe the first 3 days of trading next week are going to be critical for the conventional markets on its’ next short term move. I still believe we’re in the beginnings of a bear market that could unfold over months. Of course, that’s what good bear markets do. I’ll tell you one thing; those who recently talked about the S&P reaching 2100 by the end of the year are probably smoking some very funny stuff.
Thanks Doc. By the way, in 2014 I made 390% returns trading stocks that deal with smoking funny stuff. 🙂
Wow!
Its turning into big business.
Off topic:
My tender for Sprott acquisition of Silver Bullion Trust has been executed. I am not sure what it means. Does it mean that the transaction has gone through? Anybody shed any light? The trading is extremely thin for SBT.UN in the last little while.