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We are starting out Monday with Rick Ackerman

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Bird, maybe you are right about downward movement in gold. We are, at least for the day, very cautious with our potential actions in this sector.

Discussion
15 Comments
    b
    May 09, 2016 09:50 AM

    Not a happy sign?
    I beg to disagree, a complete washout for PMs to me is a very happy thing.
    But then I figure after a good washout we get a bull.
    But, I could be wrong, I really dont know anything.

      May 09, 2016 09:07 AM

      Thanks for this link

    May 09, 2016 09:55 AM

    Thanks Al!

      May 09, 2016 09:05 AM

      If the 96% bulls in gold is accurate we have seen a top for at least a month or two. I cover the importance of watching the bullish consensus in Chapter 2.

      Nobody Knows Anything has gone to #1 in category in a month for a reason. When everyone wants to buy, the next trade will be a sale. When the small specs go all in on long positions, you are at a top. There is no magic to it and anyone can figure out for themselves.

      https://www.amazon.com/Nobody-Knows-Anything-Investing-Experts-ebook/dp/B01DS2RP9U

        May 09, 2016 09:11 AM

        Did not realize that you wrote this book. I did pick up your piece of fiction.

          May 09, 2016 09:14 AM

          I also did not realize that you wrote The Art of Peace. I will pick it up today. You need to stay in closer touch to keep us informed.

          Best to Barb.

      May 09, 2016 09:10 AM

      pleasure, Bird.

      May 09, 2016 09:22 PM

      +1
      I am happy to see that Jeff and Matthew agree. 🙂

    May 09, 2016 09:22 AM

    Looks like we struck a daily cycle low at 1262.10.
    Possible recovery? Good opportunity for a short swing trade into something quality like First Majestic, off 10%.

      May 09, 2016 09:31 AM

      My reading as a few minutes ago is for a continuation of this decline.

        May 09, 2016 09:17 AM

        Doc feels that you are correct. He predicts silver down to as low as $15.50.

          May 09, 2016 09:27 AM

          Thanks again, Al. This looks like it will be a rough few days for metals for sure.

    May 09, 2016 09:45 PM

    I’m expecting a drop in the dollar to 89-90 still. This drop in pm’s is a distraction.