The Nuances Of The Move Down In PMs
With the precious metals moving down again today and gold breaking the $1,260 support level we need to look at where this selloff could stop. Doc joins me to recap some levels he mentioned months ago in the $1,220 range. We also look to some of the other markets that can impact the metals. Unfortunately these sometimes correlated markets are not indicating that the metals should be selling off this week… except for Bitcoin which continues to skyrocket.
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Wow. People are gonna creamed aren’t they…
Get
Looks like it to me…………
Two weeks ago I posted can you smell the herd coming?
Bitcoin is still to small to cause any real damage.
The 800 lb Gorilla in the room is still the Conventional Stock Market.
yes you did……..
Jerry:
I’m getting better at this. Thank God!
Hang in there…….Remember……I crowned you Bitcoin Guru for a reason……. 🙂
all good, I might add
If Bitcoin is so small how can we smell herd be coming? It’s too small. It will be interesting if the market cap of Bitcoin gets over $1 trillion on this rally; that would be about $60k/coin.
Bitcoin can kill gold, silver and the PM mining industry because it’s an unknown quantity.
Merry Christmas and Happy Sloshing/Hodling.
Forget GOLD! I am making MEGA BANK on BTC!!!
Business
Another day, another record: Bitcoin juggernaut smashes $16,000
Another day, another record: Bitcoin juggernaut smashes $16,000
Bitcoin is supposed to go to $40,000 by mid-to-late 2018 by more than three analysts.
Even at $16,000/Bitcoin, that’s still an impressive return in less than 12 months.
oops, over 17k now, whens the blowoff gonna happen?
b:
There are 15 million millionaires around the world. There’s only going to be 21 million Bitcoins mined.
how do they know who’s a millionaire?
Entrepreneurial profit is not a “reward” granted by the customer to the supplier who served him better than the sluggish routinists; it is the result of the eagerness of the buyers to out bid others who are equally anxious to acquire a share of the limited supply. -LVM-
JohnK
Why don’t we just split them again for the 4th time?
Bob:
You see I took some profits. There’s money to made.
You see I do listen to you.
To bad I don’t read my posts before I post them .
Money to be made.
When it blows the Comex up.
When NASA,the Russians, the Chinese come clean about going to the moon.
Oh wait, that will be just another spike in price.
Doc, could you get the Rose Bowl and Cotton Bowl to switch teams? Makes more sense for USC-Buckeyes to play the Rose Bowl and for Sooners-Georgia to play in the Cotton Bowl.
BB, now that makes sense.
December 7, 2017 at 8:50 am,
OOTB Jerry says:
Oh, Boy the new Guru………Peter
Peter Brandt, a prominent trader and author, emphasized that given that an interim target at $14,800 has already been met, the price of bitcoin will likely surge to $18,800 in the near future.
Earlier this week, Brandt said that the price of bitcoin is expected to surpass $18,000 in 2018. In response, several investors and experts including John McAfee noted that the $18,000 mark will likely be surpassed by the year’s end. By the current price trend of bitcoin, unless a major price correction occurs, the price of bitcoin will be able to continue surging towards $18,000 throughout the upcoming weeks
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Bitcoin broke 19k and we got gold nerds whining about how gold is not at 5,000 yet. I own physical gold and silver, I also own 3x paper silver, and I own 3 x junior / senior miners. So why don’t we stop the whining and go where the money is? Whining doesn’t make bank. But Bitcoin DOES!
Bitcoin hits $26,000 in Zim babble land………
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On December 7, 2017 at 7:54 am,
OOTB Jerry says:
Here ya go
https://www.cryptocoinsnews.com/tech-glitch-affects-bitcoin-orders-in-zimbabwe/
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Doc seems very bearish. Now, basically warning months more of depression in prices for PMs. Not real helpful to a novice, except one shouldn’t buy until gold hits at least 1220.
I am staying out and hoping GDX gets to the 15 to 17 area.
Doc, what do you think of Pan Orient Energy POEFF? Is it a good buy at .98 going forward into 2018?
Chart worth a thousand words………..
https://i0.wp.com/northmantrader.com/wp-content/uploads/2017/12/google-search.jpg?ssl=1