Lower targets for gold that would still support a bull market
Rick Ackerman kicks off today with his updated targets for gold. As the metal continues down today we look to the lower targets in which the metal should get support. We also look at the big picture for the metal to determine what it would take to refute the bullish overall trend.
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They are not allowed to vote.
I heard an EU passport and proof of UK residence within the last year(e.g. 2 utility bills) was sufficient for voting registration at many UK locations to obtain a postal voting form.
All UK ex-pats that moved on to the continent, but were resistered to vote in the UK within the last decade can still vote.
Do you think a retiree living on one of the Costas is going to vote leave?
(There are over 3 million of those!)
No, that is, with all due respect, rubbish.
Listen to BBC 4 right now.
That’s radio 4, not TV.
What are you referring to?
If you are in the US, UK radio programs can be heard via:
http://www.internetradiouk.com/mobile/bbc-4/
And you might consider re-checking you facts and apologize for the rubbish comment.
I was referring to a “news night” commentary that has since ended.
I listen frequently to the BBC, and obtain information therefrom, which is usually, but not always correct……..One has, of course, to distinguish between propaganda, opinions, and actual fact!
You talk about listening to Radio 4 and then you say that you meant Newsnight. You do realise that one is a radio station and the other is a programme on the television?
I was going to ignore your ludicrous comment about 3 million Brits living in Spain – there are about 800,000 – and the EU passport stuff/residence stuff is just nonsense.
I was going to let that pass also but, hey, when you start demanding that people apologise to you, well, you can just… I won’t finish that out of respect to this site.
The EU Determined to Ensure BREXIT Will Not Succeed
I was actually referring to the number of ex-pats living abroad, not on the Costas. Sorry for that imprecision.
On looking at the requirement……living in/ registered to vote in UK WITHIN THE LAST 15 years (not decade) is correct.
And the program I was listening to was PM, with a discussion involving a newsnight program.
I thought it was newsnight……but it is hard when listening, as opposed to viewing, to know exact names.
The number of ex-pats living abroad exceeds 4 million, but that does not mean all were registered to vote within the last 15 years.
The number of British citizens born outside the UK is not known to me.
Max Keiser and his sidekick gal will do for me from the UK!
Interesting point about California!
Is the dollar slowly losing reserve status?
(With this affecting the index more than the price of gold?)
Funny that you referred to the Brexit as ‘Bre- X’ Al! No trouble in gold prices since the salient point is and has been the 50-day MA. Sunday night rally in the major Indeces carried over into Tuesday? Not unlike almost every week that the market the world over rallies.
I could have sworn that we corrected that. Oh well, just a silly old man am I!
Stewart Thomson gets it…
“Investors who use technical trading systems, COT reports, and other market timing theories to place large bets for or against gold will almost never beat the diligent value-oriented investor, and if they do, their victory will be very short-lived. The bottom line:
While the Dow has essentially gone nowhere, GDX is up about 20% from its 2013 low, 35% from its 2014 low, and 100% from its 2015 low!
Investors who want to build serious wealth that is retained must approach the market with intestinal fortitude and the search for value as their main weapons. Gold stocks offered stupendous value in 2013, 2014, 2015, and now in 2016, but the key question is, how many investors had the amount of intestinal fortitude required to take buy-side action?”
http://www.321gold.com/editorials/thomson_s/thomson_s_062116.html
I’ve been keeping tabs on this for the longest time now:
Interesting chart FranSix.
Slightly scary chart; look at the ADX and KST 😮
Both those indicators look top heavy and ready to reverse course in the near future.
I liked what Thomson thinks.
Thanks for posting.
Matthew, I have thoroughly enjoyed Stewart Thompson on Tuesdays on 321gold the last 10 years for his perpetual optimistic views as perspective but not always actionable insights. I’ll stick with my 6×24 monthly MAv charts as my premiere indicator. It jettisoned me from 60-70 % of my Au/Ag positions in 2013 and reinforced my re-entry back into the sector starting the last 1/3 of 2015. Also the Hirsch indicator- buy Nov., sell May offers another safe haven perspective in my tool chest.
Marty, I agree that his public comments are not actionable but his trading approach (like Rick’s) has nothing to do with his opinions.
There’s a lot of red on my screen today but my portfolio of more than a dozen juniors has managed to stay above the quadruple level that I first reached over a month ago – yet I am still all-in. Rebalancing (including closing positions and adding new ones) works very well.
With regards to S.T.,
For those who believe we are in a secular bull market in gold, he supports his readership in a way that makes them feel good about what they own. He helps to take the “fear mongering edge” off of the assorted messages out there. Gold does go up and down. And I don’t believe it’s time to “dump gold”, as someone said today. Hmmmmm.
Why dump when time frame does notmatter?
Same here, added a little ASM @ $2.06 today, would love to buy more in the $1.80s
Probably not many, Matthew!!
Nice buying opportunity, GMX.TO , down 12% today.
I really didn’t need more but have been a buyer today anyway.
Does not the recent funding with warrants guarantee that Globex price is capped to .55 Canadian for 18 months?
I guess I don’t understand why some people buy!
Have I missed something?
That very small financing doesn’t guarantee that at all. I think it’s much more likely that the shares will be three to five times that .55 Canadian in 18 months.
In the summer of 2012, I scooped up PPP warrants that went up seven fold in just a few months and they came from a financing that was far larger than the GMX one.
It would be hard to entice investors with warrants if they could count on them expiring without ever having gone “in the money.”
Sorry, the PPP warrants story was actually a bad example since they did not go into the money despite my huge gain (they did go positive later, however, but not for long).
Brexit and the effect of Cox’s death was just discussed on BBC world service.
http://www.internetradiouk.com/mobile/bbc-world-service/
More subtle anti-leave propaganda.
Tommy Mair saved the world.
Thanks to the Jo Cox assassination, which will go down as one of the most important ones of all time, the Brits will stay in the Euro Zone.
How sad this all is.
Whatever happened to the sun never sets on the British Empire.
We’ll the sun indeed did set.
Where are the nobles citizens that desired and demanded freedom above all else?
Give me liberty or give me death!
Now it is give me security and give me checks!
And it is a false security indeed.
The people caved to the fear mongers and propaganda.
Yes there might have been some short term growing pains, but in the long run it would have seemed as nothing.
Fear ruled the day.
What was it The Who sang?
But you’ve been told many times before
Messiahs pointed to the door
No one had the guts to leave the temple
I’m free, I’m free
And freedom tastes of reality
And so there it is.
Another opportunity to break away and get off this course of madness.
Instead the citizens will be happy to collect their little checks, fade quietly into the background and don’t make waves. Like puppets on a string.
Very sad indeed.
Where is Harrison Bergeron when we need him?
Hi James,
Sadly, your comment is spot on. They’re gonna cave. Nothing to see here, move along.
Hi John,
I think it’s been about a year since you last dropped by; hope all is well amigo.
Busy dude…I wish I could contribute more. Instead, I just come here and steal all your good research.
The Who, one of the best, if not the best!
Older, but interesting reading…
https://libertyblitzkrieg.com/2016/06/09/jill-stein-of-the-green-party-clinton-helped-create-trump/
Rush Limbaugh is raving LIBERTY today!
Calling Brits stupid if they don’t Brexit.
I wonder if the Brexit vote will fail because there have been so many “European immigrants” allowed to vote?
The US should take note, that this might imply permanent Democrat dominance in the US.
The latest motor-voter law in California allows illegals to vote.
(Not that that matters much, since California is locked Democrat, and likely to go bankrupt.)