Tuesday Morning with Rick
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Will the strong U.S. dollar movement continue?
Matty,
How we doing with your UUP call?
OOPS.
https://www.google.com/webhp?sourceid=chrome-instant&rlz=1C1CHWA_deUS631US631&ion=1&espv=2&ie=UTF-8#q=uup%20chart
There is no oops, silly Booby. Did I say it would go down today? No.
Btw, how’s that president you voted for doing? You’re just brilliant aren’t ya? lol!
What?? Obama is doing great!
Unless your talking about another country.
You think breaking all his campaign promises and being worse than Bush makes him great?
Woops! Never mind, I forgot who I was talking to.
My sentiments exactly!
Yes, I said sell the RALLIES. What do you think today was? The weekly chart is still a sell despite recent action.
If you don’t want “personal attacks” don’t make things personal in the first place!!!
That was for Bobby!
One more more thing BOBBY, you completely got it wrong with this assertion: “you actually said to sell both the daily and weekly and you were wrong on both…”
That is not what I said. This is what I did say “…rallies should be sold, in my opinion.”
I pointed out that the daily and weekly charts were on technical sell signals to support my case. Just because there’s a sell signal on a given chart does not mean that right now is the time to sell. That’s why I did NOT say “sell now.”
First of all, I voted for Ron Paul. Second, I do not appreciate the constant personal attacks on me. I ask al to BAN YOU FROM THIS SITE!
See the transcript…you actually said to sell both the daily and weekly and you were wrong on both…
On September 17, 2015 at 11:57 am,
Matthew says:
Dollar rallies should be sold, in my opinion.
http://schrts.co/bd3ex0
Reply to this comment
On September 17, 2015 at 12:37 pm,
Bobby says:
-1 totally disagree.
Reply to this comment
On September 17, 2015 at 1:14 pm,
Matthew says:
The daily and weekly charts are sells and the monthly ain’t pretty either. Just the facts.
On September 17, 2015 at 11:57 am,
Matthew says:
Dollar rallies should be sold, in my opinion.
http://schrts.co/bd3ex0
Reply to this comment
On September 17, 2015 at 12:37 pm,
Bobby says:
-1 totally disagree.
Reply to this comment
On September 17, 2015 at 1:14 pm,
Matthew says:
The daily and weekly charts are sells and the monthly ain’t pretty either. Just the facts.
First of all, I voted for Ron Paul. Second, I do not appreciate the constant personal attacks on me. I ask al to BAN YOU FROM THIS SITE!
See the transcript…you actually said to sell both the daily and weekly and you were wrong on both…
On September 17, 2015 at 11:57 am,
Matthew says:
Dollar rallies should be sold, in my opinion.
Reply to this comment
On September 17, 2015 at 12:37 pm,
Bobby says:
-1 totally disagree.
Reply to this comment
On September 17, 2015 at 1:14 pm,
Matthew says:
The daily and weekly charts are sells and the monthly ain’t pretty either. Just the facts.
On September 17, 2015 at 11:57 am,
Matthew says:
Dollar rallies should be sold, in my opinion.
Reply to this comment
On September 17, 2015 at 12:37 pm,
Bobby says:
-1 totally disagree.
Reply to this comment
On September 17, 2015 at 1:14 pm,
Matthew says:
The daily and weekly charts are sells and the monthly ain’t pretty either. Just the facts
I also voted for Dr. Paul.
We all need to calm down a bit.
Man, if I took everything personally I would not be able to sleep at night!
For the record Bobby, you are a very important contributor. I learned a long time ago that I am better off if I simply act like a seal!
If you guys voted for Ron Paul your votes may not have been counted.
imo, Mathew throws insults more than anyone.
Not that anyone cares of course.
Your awesome analysis never lets you down, does it? Why don’t you read Bobby’s first reply again and tell me if his attitude was called for. He’s been doing that for years now; I simply respond in kind and possibly times two. The aggressor deserves more than he dishes out.
Oh, I didn’t know they had indexes starting with ! instead of $ on stockcharts.
Anyway, great chart. It topped as gold topped in late 2011 strangely enough.
Re: Matt’s Pring’s inflation/deflation measures:
If you change the URL to yr=28 you get the whole index since 1990
http://stockcharts.com/h-sc/ui?s=!PRII%3A!PRDI&p=W&yr=28&mn=2&dy=0&id=p56634055419&a=419350935
and it looks scary. Highs in 1990, 2008 and 2011 (progressively slightly lower) and right now far lower than any time in last 25 years even than 2008/2009.
its great to suggest higher US rates will create the bottom in gold lets face it these past 4 years everything else that was to propel gold higher has failed from Asian demand to China as the big buyer etc, etc oh and QE was to create hyperinflation in the US and crash the US$ remember, not!
So to those now linging up behind the latest spin for higher gold its really simple take out these levels and then you maybe correct, of course you need the feds to start the rate hike cycle FIRST….golds hurdles:
First close above $1142 then $1169 then $1188 then $1205 then $1232 then the bulls can focus on attacking major resistance at $1300 anything short of that and the past 4 years repeats again, SELL RALLIES and get SHORT
I have to agree JJ, I believe we need to finish the cycle down first below $1000.00 and a “possible” low of $750.00 before we make any runs for new highs.
I agree too jj. This latest incarnation of what will make gold soar (rising interest rates) is just as worthless a thesis of the prior 100 non starters that made absolutely zero difference to golds price going back up. The gold bulls just never tire of coming up with new ideas though. They hang onto every last straw swirling around the drain hole like its a damn life raft.
What will they come up with next?
By the way….the Shemita did not work out so good to send gold to da moon!
Shemita was jewish…….and only the jews need a sign……….
Maybe gold went up in shekels?
Ha! Maybe it did.
In fact, I even have a chart to prove you are correct bb. It’s gold priced in Shekels.
http://goldpricedata.com/en/gold-prices-in-israel.php
Kind of did not work out for much of anything other than it made someone a lot of money!
Of course you have to agree with someone, Booby, you’re incapable of doing your own analysis.
Now come on, Matthew!
Actually, can be hard to read a post from Mathew without an insult in it.
Seems that way sometimes anyway.
Your heroes and you provoke every bit of it. You could not possibly see that, of course.
Matthew thinks he is smarter than everyone who comes here.
Wrong as usual.
Rick A, Gold…
Thanks for the link, Original
Quilts have patterns………..or at least some of them. When investing in quilts, make sure you buy from a reputable dealer. Most quilts are sold by grandmas without teeth.
Quilts, will be a better purchase than gold , before cold weather hits……jmho
Investment advise should never be taken lightly, but, light colored quilts sell best.
11 aug, 108.1?Gold dips bellow 109. 70? Is Rick mixing gold and the price of something else?
GLD maybe? I never look at GLD.
Rick, be nice if you didnt mix prices, I would need to go to gld and figure the gold price at that point to figure what your saying.
Just me maybe.
Thanks for what you do, by the way, excellent commentary.
….if gold (gcz5) dips below $1097.7…..
That is his C coordinate for the impulse leg higher to potential target $1186.1.
If gold takes out C ($1097.7) the pattern is broken.
thx MJ, but I dont watch (I assume gld), wouldnt it be easier just to state dollar amounts?
Not a big deal, but thx.
Not gld; December futures contract.
Excellent, that makes my point, thx Mathew
Defending the zero bound has been the aggravating distraction of the big banks on Wall St. since the debt ceiling debate. Rates have popped in and out of the negative since that time, and as central bank’s eventually fail to keep stock markets levitating or defending the value of the currency, the banks, try as they might with the tools they have at hand, are not bigger than the market, and will be obliged to drop the effort.
You wanna know where Canadian bank profits were coming from, aside from the housing bubble? Collapsing oil stock prices, and everyone’s favourite punching bag, gold mining stock.
One mean mean reversion is coming.
Good thoughts today from Rick A on the hidden pivots he is looking at in gold.
Nice interview Big Al & Cory.
Pring’s inflation/deflation measures suggest that inflation is due for at least a rally.
http://schrts.co/u1p8xj