A bit of a late Tuesday Market Wrap
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Big Al and Cory go it alone. You are going to like what Cory has to say!
Agreed. By George… I think he’s got it!
Britain stays in my guess is gold drops.
If no Brexit I think the euro pops. That would be good for gold but gold will be fine either way.
I do agree with your feelings about gold, Mathew.
Very informative.
Just got this. I haven’t watched it yet.
Brexit. The movie: https://youtu.be/UTMxfAkxfQ0
Wow. I just watched the whole thing. A very stirring and thought provoking video.
Unfortunately, most British people will not even hear of it let alone watch it.
Bob UK – If everything goes to hell and hand-basket, maybe you can hide in here….
The world’s biggest bank just bought a ‘secret’ gold vault in London
Elena Holodny
http://www.businessinsider.com/china-icbc-buys-secret-gold-vault-london-2016-5
Thank you. One of the best daily wraps in a long time. Clear and straightforward chart commentary. Intelligent and thoughtful comments on other things. Less is more. Do it again.
Thanks for your comment that voting on Brexit is “courageous”. Yes, it is. And it hurts to read some Americans like Gary Wagner dismiss it smugly in one sentence as stupid. I thought that’s where you stood, Al. I must have misread or misheard something.
Individually, so many European countries have so much to give to each other. For example, the UK would be a happier place to live with a greater Italian and French influence in our daily lives and culture. And the Dutch and Scandinavian countries know how to just get on with their own affairs and not always be hankering after ‘global influence’.
It’s not about rejecting our neighbours. Just to hear LPG makes me feel part of Europe and you should have seen how deeply a lot of us felt when Paris was bombed. What’s not working is this ridiculous project to turn Western Europe, the old Soviet Empire and even Turkey into a single nation state. It’s crazy and it will end in tears.
And the elephant in the room does not even get a mention.
When the ADX reaches a high point and the gold/silver ratio is strongly inversely correlated, then you probably have an interim top in gold mining shares. Looking back, this time is very similar to 2005, when gold mining shares finally broke out, after moving average crossovers of the 13-week and the 34-week over the 89-week. The next Matterhorn peak to beat is 355.92 set in 2012:
Interesting chart. Any thoughts on when that might be? Huge volume in JDST today…
George Soros Buys $263 Million Stake in Barrick Gold
This should start bringing in the followers…..no hedgy wants to be left behind.
Man . . . Cory sounds great! He’s really turning into a top notch technician!