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The Nuances Of The Move Down In PMs

Cory
December 7, 2017

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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Discussion
33 Comments
    Dec 07, 2017 07:54 AM
      Tad
      Dec 07, 2017 07:41 PM

      Wow. People are gonna creamed aren’t they…

        Tad
        Dec 07, 2017 07:41 PM

        Get

        Dec 07, 2017 07:18 PM

        Looks like it to me…………

    Dec 07, 2017 07:07 AM

    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.

      Dec 07, 2017 07:34 AM

      yes you did……..

        Dec 07, 2017 07:45 AM

        Jerry:
        I’m getting better at this. Thank God!

          Dec 07, 2017 07:51 AM

          Hang in there…….Remember……I crowned you Bitcoin Guru for a reason……. 🙂

            Dec 07, 2017 07:53 AM

            all good, I might add

      Dec 10, 2017 10:58 PM

      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.

    CFS
    Dec 07, 2017 07:09 AM

    Merry Christmas and Happy Sloshing/Hodling.

    Dec 07, 2017 07:16 AM

    Forget GOLD! I am making MEGA BANK on BTC!!!

    b
    Dec 07, 2017 07:24 AM

    Business
    Another day, another record: Bitcoin juggernaut smashes $16,000
    Another day, another record: Bitcoin juggernaut smashes $16,000

      Dec 08, 2017 08:01 AM

      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.

    b
    Dec 07, 2017 07:32 AM

    oops, over 17k now, whens the blowoff gonna happen?

      Dec 07, 2017 07:39 AM

      b:
      There are 15 million millionaires around the world. There’s only going to be 21 million Bitcoins mined.

        CFS
        Dec 07, 2017 07:42 AM

        how do they know who’s a millionaire?

        Dec 07, 2017 07:02 AM

        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-

        Dec 07, 2017 07:03 PM

        JohnK

        Why don’t we just split them again for the 4th time?

          Dec 07, 2017 07:12 PM

          Bob:
          You see I took some profits. There’s money to made.
          You see I do listen to you.

            Dec 07, 2017 07:14 PM

            To bad I don’t read my posts before I post them .
            Money to be made.

    CFS
    Dec 07, 2017 07:40 AM

    When it blows the Comex up.

      Dec 07, 2017 07:43 AM

      When NASA,the Russians, the Chinese come clean about going to the moon.
      Oh wait, that will be just another spike in price.

    Dec 07, 2017 07:23 AM

    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.

      Dec 07, 2017 07:28 AM

      BB, now that makes sense.

    Dec 07, 2017 07:29 AM

    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
    Reply to this comment

    Dec 07, 2017 07:35 AM

    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!

    Dec 07, 2017 07:35 PM

    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.

    Dec 07, 2017 07:09 PM

    I am staying out and hoping GDX gets to the 15 to 17 area.

    Dec 08, 2017 08:01 AM

    Doc, what do you think of Pan Orient Energy POEFF? Is it a good buy at .98 going forward into 2018?