Exclusive Comments from Marc Chandler – Tue 13 Feb, 2018

There’s More To The Pickup In Inflation Data

Marc Chandler, Head Of Global Currency Strategy at Brown Brothers Harriman joins me today to relate the recent market volatility and potential pull back to 1987. We also look at the recent uptick in inflation data which Marc argues is more of a supply and demand issue but thinks true inflation will pick up in the 2nd half of this year.

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Comments:
  1. On February 13, 2018 at 7:43 am,
    Excelsior says:

    Thoughts On Gold

    by @Goldfinger on February 13, 2018

    “I read a lot of stuff on a daily basis. I probably read anything that is worthwhile to read on gold and there are no shortage of opinions as to “what must happen” before the next big move in gold etc. etc. Some guys are bearish saying that gold is about to crash, some guys say we need to have one more washout sell-off before the big breakout, others say gold is going to $5,000 next month. As usual everyone’s got an opinion but the reality is are any of these opinions valuable?”

    “Lets take a look at a 4-year chart of gold in USD terms:”

    Here are the facts:

    >Gold has made a series of higher lows since bottoming at $1045 in December 2015

    > Gold has consistently run into resistance above $1360, while pullbacks have found bottoms at higher levels

    > The most recent December low at $1238 now takes on added importance as a downside support level

    > Gold has a tendency to reach a Daily-RSI(14) of 30 or below during pullbacks before turning higher again. However, this doesn’t happen every time gold takes a dip and we have seen pullbacks end at an RSI of 35 or 40

    > $1300 is clearly the next downside level of significance, whereas, $1360 is the next upside level of significance (a strong move above $1360 would snap the apparent ‘double-top’ up at that level)

    “Those are the facts. All the other stuff you are reading is mostly made-up mumbo jumbo. Gold is generally quite constructive from a technical vantage point and it seems to me some further consolidation in the $1310-$1350 area would be healthy and set the stage for an eventual breakout move over $1360 (and eventually above $1400). ”

    https://ceo.ca/@goldfinger/thoughts-on-gold

    • On February 13, 2018 at 7:52 am,
      Excelsior says:

      That pretty much sums up what we’ve been saying on here for a while – Gold is in a constructive pattern of higher lows and testing those prior peaks.

      All the BS about one more washout, or Gold waterfalling down to new lows, or that it is still in a bear market is complete nonsense. Gold has never looked back once it put in the December 2015 low of $1045.40, and if anything Gold just needs one more push to get it to break out to a new high and bring in more money off the sidelines.

      I’d go one step further than Goldfinger did on the facts and point that Gold took out the 2017 peak of $1362.40 this year and closed a few dollars above that at $1365.40 in 2018. Gold is way closer to a new high than a new low. Nobody that can read a chart can dispute that.

      When/If Gold can take out the 2016 high of $1377.50 then it will put to rest for good this silly narrative about Gold not being in a Bull market or that it may dip down to lows. It’s definitely within range.

      http://schrts.co/4UAa4s

      • On February 13, 2018 at 8:10 am,
        GH says:

        Sums it up perfectly. Thanks, Ex, I enjoy Goldfinger’s posts.

        • On February 13, 2018 at 8:18 am,
          Excelsior says:

          Yes, he’s a sharp dude and he distilled the message we’ve covered on here many times very succinctly. Cheers!

          • On February 13, 2018 at 8:43 am,
            Matthew says:

            I’m sure he’s a smart dude but anyone who knows the basics knows (yes, “knows”, not “should know”) that gold “is generally quite constructive from a technical vantage point…”

          • On February 13, 2018 at 8:53 am,
            Excelsior says:

            Yeah he “knows” it, but posted that in response to a bunch of noise and opinions bubbling around the blogosphere.

            Sometimes it is nice to go back and restate the facts to knock out all the dire predictions.

          • On February 13, 2018 at 9:56 am,
            b says:

            You guys are obviously gold bugs

            Andy Hoffman: “I Sold Off ALL MY GOLD And When The Old People Die Off MY VIEW WILL DOMINATE”

            As soon as we are all dead Andy will undoubtedly be proven correct.

          • On February 13, 2018 at 10:02 am,
            Matthew says:

            Who’s Andy Hoffman?

          • On February 13, 2018 at 10:05 am,
            Matthew says:

            ?
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HT+7A/5Ozq8ek6amoRvQksTqWGRi2kQSbO9BqbLRmb0A3aQ6ZITk5yETCBCUJzP7RcmkW7R0yaOYgWlHeTEStf4ixpLQRdT/qU3EBUFpwemWfCBuz5Cr0ycTWcU3QzES0g3ATzUr/U0LQ9tFIIYJvE0HH3nGe9sezN0d7LYK/GAKEbhr6xpIR4nbCg+p9/WAnahUsS1A1OSRqYqURiylsBU0NPPEc4UkEk3WctU0y4wY2zsRctN/Nr60AVQl2vOMmLQElrevse/pHSVSTLQ11wDTGr792UFbCkkEaHOvStBAuakMCQTk4qHGO+C+ylhIVm7e6wz0XwLFenThHlYHT7jLrHGwePKGFM67sG4wKSdiWLvpyZN4pcKI1LZcftGkbH2WJNAlgkJ6l89+sVDsLYCqYZzVTROpLupuIp1jVLOhJvGhSsJ6M0c8mtcs8txpEiXLpEeQLirh08JOYGR1I9GiYIlIP8A4e6ruj/dKO7NHL0idJlgj1hW0LLfTQstJvIOihhyOB3GG7FP7xN5mUPCtOihiIxSBLh1o8I8YwIIeAXae3LZNmkfzpxug/kT+JZ4DzaDFttIlpKjAzYNjJUq0L+ZVE7kvXqfQQX9GfsR2Vs9EiUiVLDJQG3k5k6klyeMS49HoQSzwqPR6Myvdt9pmTZF3X7yY0tDYgroVcgSYMyCyQTkkelYqfaqd3tsssgYGY54JHi8jFh2ypRSiWiilrSHGSR4lK5AHyid9q11Ds60uoy0FiPnVkgcTS9oOZ0MJVmlplfwwV3FXgouoqWXF4q/Ga+2ib/wqVR03mqAokpfF7vyu9XZ4mFMM2msr7WBUixzVTf5075s2BLAcAIz2yzyQxOWWD4RofxbqmYgZpQRyUSfpGVWSf8AL7f3SOkVO1oBDCmYJO9j+EUJ3xOskxn8TYZA6wHkKFx9CcDWuof20ErJOceIVphzi/yDCBXyaEzKpHnxx/SOrH0+n61hKqimfv6Ri0XsE3coFPlLcTjwpFwsyrirhwU5R/uTyxG47opXY2UO5lGqSEgYesXRUkLQyh4hUEYgjBQ96iOdF9O2uXeAS/ixQdCPbdYVYrRfFQyhRQ0MQbLae+QfwzZZZQ0UM+B+scTaGWiaPlX4VjRY9tyERttDEDp0gS5omgsFslYyJ/Crjl0ggDDdqk30FOo88oQdjhhiwTryA+IoeIoYemGkZgXaib8wJdxpBpCWAAwEDJUt5z6CChLYwQ12PQ2FE4Yan6CPd3V3PDLyhByIdvtyZaFqJ+WlATU4Cg3jrEjuhv6n7xX9qHvZwkpohFVNmo/p6wUyAUqaDbBPdxKkzVDV1GWhGOt4xcpVn8aZhOCbqRxZyejdYF7T2eJiziFKSbrFiLqkFFR/UlLitHg7IN5KSaUBbe0TPVW9Ho9Ho4YtDKfiOL1oCfbRkJllC1y/yqUno4jYe2nitwGNPQRlvaiy3LUrIK8XPAxSoIWRfhbh0+0GLCksa5huDDjvgBYC6eEHLAqhwy+sXPRTd/0c86fSJGySTaJaU1JU9K0bDdWITivKDXYaTftYLgXUkvoaCu8DKNTGr2GzJSPERez0G6CEtIGHkYas1jQwu1iSiW0ctpRLdZzeE1BAWKF6BSTilRHkcjxiHMSSFhmTMGGaJoqN1aVwpvg0tAIIOBiAvwqTez8CnzzQrjiOcTVSubPnTFy0qoktUM56uwPWJyUbyfe6GLNZ7hKR8pqN2oj0mYyynn92hgpMqRdmKDkBXiABzwV9Dzh1UihF5Vd+HCkdtFClWhY8FU9Wh6EIVlleNRCiwoxA9QImKS+MMWHAnUmJBgjPR5RaOwlQeFkGZbmlqmHAOw35RF2PYyhF9T31uok74emSXU54NClry/aJ0doW0Z4QZalKIKlhKUjec/ecHUBhAJUmWqZLHdOb4IIDXSnxOWplBi0WtCGCixLkDM3Q5bgIMYafhL4x4KiDtjasuzylzFnAFhmTkAItLO7Wb+0JiskIPmS30ig9vJLTJauI61+kW7YM1U1U2acZy2HCAPxKktdbJQHkqKUr+zz4W+0HNnqdOUVyxL6wdsRYMMouNTKZjZbgCdWd25xYewS3takZ5ebxXHYE5gOOVPfCH+zu1FWe0CakFRYhs66b6QZeGNzsqlSjUcgXprBOXa0HNuNIz/YfbWyzfBMmmSp6kgC9p4i7cGi6d/KAxcby7xzTU9U5IxI6xC2igTkXUu4IIUBgQQc20iDM2zJR8oERJvajIBozTaxS0K/ERyjypIvBRJce6xVBtycr5Q/X6Q/KVal5NxjNpZppSQQTRo4q0JH4hAeVs6Yfm9T6RMlbMAxA45xglSpqAGCsIdSsHAw2iyJEPBIEYOgRy9Aq37XSksCKYl4hHbgNE13wbOqMTIiTkl84kWSWosVBuP2iUoABzB6fESxIU7kMPMwjaNqloLqZ89W0gdtjtOmX4ZbKVFZ/xEyYSpT/AE5Q446N7WKZ2nSAEpSQwZzu35RW+0lrM6TNLUSKE4l9BpC04gJSH5H9InI2Uru1GYsBNVLJqT7Dxeh1A3s7YglSRlLlgn+5WHkPOKp8S0tKfO+PWL32ckq7lcxQN6ZWuISAyX5CKP8AFINJH9w9RC35UOxTDlFgsZYVis2M/WD1nVTAne7QwlqwrrrDWzwe/lNSuO+vQYRy9Qe8zCLBM/jyf7xXicfOClo1js1mWnvFykvUKpgobocE50sl7gokNVtK5QvZwTeWFDN2dn90ixbP2eH7xY/tTi0S2w3ZvZ6bNqfCnfFksXZuUjEvEkWokMMIT/iuA974NptqdKsstOCRDt4DSBptT5w/KS9SYwSe/fAPCu81x0gRtPb1ms6T3k5Cf6QReioT+2FotajL2fIUoYGYQQkbyo09YNmY2rttTbcuSl1qA4mKJtHtrNtCu7syFLy8IJPM5RLsPw+VMV3lvnmYrG4g05nP0i47NsEmzpuSwEitAz8CRi2EHZ6n9qTsrs3bJqnmkIGisByxUekXiwbKlSQDir8yvoMByhVp2klA9+kCrRapsygSQPP9IZGttTdobbTLwq2JxitWy3Wm00S6UdH4/aC9m2Uo1PSjc9YLyLGE4typCnelXsHZlRqqvHCC8rYKQKv1eCcy0gUTA+ZtFyyfEr/sHE58IW3Sv+HpRgAOjwxN2ffxUw0GHN8YWiXMNSeJNOgyEcnTwkM/nCCVShLl3XejZRlHxSLyhuI9Y0O3bRFaxmXxKn3pb/1D1jKkUexqrB+yGmMVyymog3Z5lIqE6DTk/vk8Q1ruqvaEHoXiUo4U1+n2iFaMOMaqbNsBSaK16QdNrbInQDCM17G7bPdJBNR4Ty/SLajayRl74RAsGEzJijVgMgMuecPS7EhIvTFMMamKvbu1E3CVLD6qP3MDpWyLTazetFoUE/llkAecGmWbavbix2bwy2mTMkpqX5QOTN2tb/lH+GlHNbgtuSKnm0dkHZ+zw4SgL1otZPFyYgJ7UWq3TO7sqFolD55zUAGIScFL3ZZ6QNJ+hrZ3Y+xSljv1qtc/FlVA33RQB8zFtlzLoCUJCUjBKQB55chAfYsmVKTdSgJJqok3lqOq1Ekk+Q3QdksR+tI0TlUVS1qoGSN2J4mOos51PGJzDKOhD6Qp2idykVMOoTuh90pqSB5QK2l2qs0nGYknQGMwkSs4CkIVZ1nE+Y+0Ua3/ABNlhxLQVGAFp7W260FpYuDmSOkZXzWmWpMpIPeTABmHFeJgJbe2FkleGWAo+UUNWzJqvFaJqzuvNDK58iS91IJ1x6qMP/TMYtFq7XTpmAuJ6QHt3aQIxVePvKKptHtCTQFtyWHUwJTtCzjxTTMnf/HKPdp/1zT4j/pA4wfR0tdm27OtCymUgqYOrJKBmqYo0SG184pvabbRnLuBQUlP4hgo6h8oc2n2hnT5YkJCZNnBcSJIuofVZ+aYreomK8pBBY4xpWqVZzWC9nBZn98hAeQIK2Y01i4E3FuXvziHPOPSHnz97ojTD+m6MpI2FtESZjKPhXjuIwi2y7ehQpLnTB/QZaR/9lqjOrTEOYqAbake00mSC1jSFazrTLJ6IvekBdp/ESasMlEpP9pUrzN30ihPHHiRtZrCZ1smAFTJ/ERSm6NG2ZZUS0BCASBQByPLCM37M7UMsEBEsvioggjpjFtRbFqxW+4UHlAuLjYbbcNabnf0g3L7SSkjxLA4mMwtE0NR33ExA7q9UueJjSi4ytMtvxGkooh1nBkhx5CBM3tptCdSRZ1JGqiwgDs23Jlt40p4wXsnaPvFplSVidNU7IQASWqafUw9DWiTsnado/nT0yk8SfSjw7J7E2dNZ1pUvViBE5Oytpzi3cd0nNU1STTciWok8C0SpfYpBraJs+dqkKMlD7gjxnhejNv+we0Tdl2UOQDpeV+sCbZ21BF2zSFqGV1Bu9TTnWNEsHZazorLsciX/UUAzDxUt1dTBFdjQn8KelI3Y3GGz5m0J5pLKQd31P2jlk7E2ucoXlHzMbLMINABBrY9kASVEVMGj9Kl2P7BSZAvLAUogguIBdq+w8grVNlywkv4xlxaNXliAG3JLpURi0VEfV2yuR2RGkCu1PZdSbMbQlNZa7qm/Kz16PF52TtLxFCh4HIB0OA5PFttWykKs0yWA/egBb5cBlGVa+ZpBrBayikQLRZFSpq5Sgypailjuw6hjzghZ8IqMc9tDS4UTHiPP6xlB1oTECYILT0vECeiCioRjkOLTCGgSfsc+4oGD42gtFLh3RX7AQJqCrC8l+Dxocoi7dUhwo0UPzAMR0IMGlYvdldj2q1z0oKRLlsVKWqrJ3JGJJoziL1bfh/JStAVaJpFxSlJTdSFVSAAwvJFdYOdlbMUSkPRTB+Ue2ha3tU1L/LLlim9Sv8A8xvBu2q9K7GWCryAoioKlKU/G9BtHZSyJSJtnkolTkspC0hilQwHA4HjHrzKalRu9Yn7HtHhKdDCOxTZW0u9lpmMxwUPyrFFDrE7vhFcfubQSPkn14TAMeY9IJTp8Ap61WsCA1utRNI7PnY1iEFXlYYQtIk2KS7UMWiSi6kCBWyrO9TBZZygFpJNIFWwXgXzEEZit8B58ypOnWFoq0iy3L0sgDxEjfpBOwbWuKKV1ChXjq0M2wg+IYjBq+kC7PMadeUKVf6YQqV74sdnheFvlMULVdmEYP8AhJGRy5bopFmFI1XaKyEqlCsuaGN5rtX/AA1DuccaRlNrsxlrUh2unyhlLii/L7++kefEijwlP29I6rDmfpGUbX5axFmp+kSzgngfUQ2n5TxEYB0xEMLREyfieMMTM+cAR2jXOwcrvkIUuoIS4NQLrXS+uI3MIyWNn+E3/Ry/8w+pgnrNLsEtminrtL260DelPRz/ALou8r6xnkr/APoWj/M+ggy9bEftMc2fOaaRg491hy0D3yMQ1/zUcTGYc21IvyLw+ZBCgTi4MMptV6WFDMCJ8z+Sr+yAOxT/AAh7zjbT+DrMC+MSNmybxoKRHEGbF76QsKWdISIUtQOceSKCI8/5myaCh6Ymru/OkC7am6ohhVsvvBX7wG2wfH1g2YhWuXhAq3Sa0xZxvaC1s+UcoG7WLWcqFCAWIxFTgYbdKgXaFp7sLUwSHBJLM4LHqCIzztJapMya4mJNKkHPlFc2tbZilEKmLUHNCon1MRbKHd4Zdterp//Z

          • On February 13, 2018 at 10:10 am,
            Excelsior says:

            haha! I love the Andy Kaufman in a straightjacket…… “Thank you very much….”

          • On February 13, 2018 at 10:15 am,
            Excelsior says:

            When the central banks quit buying Gold as money then the paradigm will change. Until that changes then it will remain a store of value.

            If the central banks all start holding their own cryptos or something along those lines, then that would be a new threat, but at this point Gold is money.

            I’m actually far less infatuated with Gold and far more interested in the resource and energy extractive businesses, for their volatility and crazy price swings.

            However, if the poop hits the fan (like what we saw 2 weeks ago, and most assets were collapsing – stocks, bonds, cryptos, you name it…. Gold held steady). In that environment whatever companies have the most Gold or Silver locked up in the vault of the Earth will have intrinsic value. It’s a pretty simple concept really.

          • On February 13, 2018 at 10:32 am,
            Matthew says:

            One need not be infatuated with gold to be seen as infatuated by those who don’t understand it.

            It doesn’t matter if the central banks quit buying gold. Gold doesn’t get one bit of its legitimacy as a store of value from central banks.

            I’m not sure what Hoffman’s view of gold is, but if it’s what I think it is, he’s an idiot.

          • On February 13, 2018 at 10:47 am,
            OOTB Jerry says:

            Andy Hoffman , use to work for Miles Franklin…..went out on his own, or got fired for promoting bitcoin….

          • On February 13, 2018 at 10:49 am,
            GH says:

            Hoffman was very gold-positive, and wrote (writes?) prolifically for Miles Franklin, a precious metals dealer.

            Nothing against Andy, seems like a fine guy, but highly emotional. He adopted the moniker Ranting Andy for a while. I think he got burned in PM stocks, and became dedicated strictly to physical metal and to exposing the manipulations in the market and unsoundness of the whole system. Sounds like he’s moved on to a new phase…

          • On February 13, 2018 at 10:54 am,
            OOTB Jerry says:

            Concerning Andy Hoffman……I use to enjoy his rants…….reminded me of ….well, Myself….:)

          • On February 13, 2018 at 11:09 am,
            b says:

            https://youtu.be/MowW9jLcKwg 7 mins.

            andy hoffman, he was a gold pumper for years. Has had a crypto epiphany

            Not sure if you guys heard, Russia has their own cypto ruble now.
            Dont know how fast they are bringing it into use tho, slowly I would think.

            Personally, I think its obvious that every gov in the world is going to go 100% digital.

            If we get some kind of discovery that there is more gold in the world than we need, as in we already have a 70 year supply, or its held as diamonds are, that could cause the end of just about all retail demand.

            He could be right.

          • On February 13, 2018 at 11:25 am,
            Matthew says:

            Gold isn’t copper, b. The greater the above ground supply, the better it will be as a store of value.

          • On February 13, 2018 at 12:36 pm,
            b says:

            Now thats dif from the way I see it Mat.

            That was sure true 100 years ago, but surely people after using feathers,sea shells,tin,silver and now digits, will realize it doesnt matter what we use as currency.

            People just need to agree to accept it.

            Should people, the “common” people decide on digits, digits it will be.
            If they are led by the evil zionists or not.
            People really do have sheepy qualities. lol

            I still have my metal tho.

          • On February 13, 2018 at 12:46 pm,
            Robert Moriarty says:

            Ex:

            Speaking of facts, when I wrote about 12 commodities on Jan 26 and said they were showing extremes of emotion and given the upcoming full moon, we could reasonably expect turns. Gold was a DSI of 91 on Jan 24.

            All 12 turned. I know of nothing more accurate than simply a direct measure of sentiment. The DSI for gold right now is 70 and you don’t get those kinds of numbers at a bottom I am going to respectfully submit to both you and Ex who you know I have the utmost respect for, don’t be shocked with a drop in gold and silver. I’d like to see both below 10.

            Being wrong doesn’t mean you are wrong, it sometimes mean you are human.

          • On February 13, 2018 at 1:07 pm,
            Excelsior says:

            Hi Bob M. – Yes I remember your article in late Jan about the super blue blood moon and how full moons (especially super moons) often marks a turn in markets…. and it did across the board. A very good call sir.

            As for the sentiment readings and the DSI, no argument from me there, and it is a helpful tool. However, that doesn’t mean if the DSI falls from 70 to 10 that Gold has to make new all time lows or even take out the most recent higher low of $1238.30. I’d prefer to see that level hold in any pullback, but as long as $1045.40 doesn’t get taken out we’re still set up then nothing I wrote up above will have been negated.

            Please let us know when the sentiment readings are at their lows again, because coming out of that turn will be the move where Gold takes out the $1377.50 2016 peak.

            Cheers!

          • On February 13, 2018 at 1:16 pm,
            Excelsior says:

            Really I’d like to see the 233 day MA hold (currently around $1282 as first support on any pullback in the metals). That $1280-$1290 congestion zone has been in play a number of times, so if the metals are going to be under pressure I’d like to see that level hold, but again would prefer to see a “higher low” put in Gold above the prior one at $1238.30.

            Again out of that bottoming process (like when the sentiment is low DSI of 10-20) then the succeeding move higher will be the one to take out the prior 2016 high. As many have mentioned this may take until the 2nd half of the year to play out.

            Sentiment can drop during sideways grinding action, and if we see frustrating channeling gradually lower around PDAC and the summer doldrums then it will likely be the catalyst to mark the next turn back up. Just my outlook, but I always take thing one level at a time (always within the backdrop of seasonality patterns).

          • On February 13, 2018 at 1:17 pm,
            Matthew says:

            Robert, there is a potential H&S top setting up in gold that targets the December 14 gap way down in the 1250 area…

            http://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=1&mn=0&dy=13&id=p17061022626&a=571125288

            I confess, I do not think it will get there.

          • On February 13, 2018 at 9:03 pm,
            Robert Moriarty says:

            Ex/Matthew:

            Of course I will notify you should gold go down to a DSI or 10 or below. And you make the exceptionally valid point that one more washout would set the stage for a rocket higher. So by my saying I think gold might go down now is not saying we will have a new low but that it would cleanse the market of permabulls and ready the market for a massive move higher in time.

            It will be interesting to see because Matthew and Ex are an order of magnitude higher than I am in charting. I’m not smart enough to understand them so I had to find something else that might work.

  2. On February 13, 2018 at 7:48 am,
    Silverdollar says:

    +1. A few words; logical; balanced thoughts. Good piece. Thanks.

    • On February 13, 2018 at 8:04 am,
      Silverdollar says:

      Above comments were to Ex. Mr. Chandler’s comments are far too technical for me to comment on……….

      • On February 13, 2018 at 8:15 am,
        Excelsior says:

        Thanks Silverdollar. Goldfinger is a very sharp technician with a balanced view on how they fit in the fundamental environment. Sometimes though, it is best to boil away all the noise and just look at the chart.

        We’ve had so many dim-witted comments for 2 years now about how the metals are weak or still in a bear or getting ready for a major washout to new lows since the clear MAJOR bottom in Dec of 2015. It is so exhausting to read the idiots like Dent clamoring for $900 Gold $600 Gold, $400 Gold, and also tiring reading about $5,000 – $10,000 Gold.

        Just look at the freakin’ chart and it is as clear as day that Gold has never even come close to going back and breaking below the $1045.40 low in Dec 2015, and since then had an epic break out through multiple layers of overhead resistance in prior peaks/troughs, and through key Moving Averages.

        It has put in a huge rounded bottom or saucer bottom and we know what happens when those get to the right hand side – a huge move upwards.

        There is no arguing with the fact that Gold has put in a series of higher lows which is perfectly bullish for this kind of a protracted pattern, and as mentioned above, Gold just took out the 2017 peak already this year in 2018.

        When I saw Goldfinger post that today, and it encapsulated the same arguments we’ve made on here over and over and over again for all the doubting dimwits, then it seemed worth posting so people can here the same thing again from someone with a knack for cutting right to the chase.

        It likely won’t stop the negative nancies from coming out of the woodwork at the first sign of any weakness, but maybe after looking at the charts long enough the light bulb will eventually go off in some of their minds. [that is probably wishful thinking though 🙂 ]

        Ever Upward!

  3. On February 13, 2018 at 8:25 am,
    Silverdollar says:

    Of a more economic nature, this article from Wolf Street posits on the possibility of four (4) rate increases this year: Can’t see it happening but sometimes my eyesight is challenged: https://wolfstreet.com/2018/02/12/four-rate-hikes-in-2018-as-us-national-debt-will-spike/

  4. On February 13, 2018 at 8:35 am,
    Excelsior says:

    Cryptocurrency startup LoopX evaporates from the web, along with $4.5 million of its investor’s money

    The Next Web – 2 hrs ago

    http://www.businessinsider.com/cryptocurrency-startup-loopx-vanishes-with-millions-investor-money-2018-2

    • On February 13, 2018 at 8:35 am,
      Excelsior says:

      more fraudulent ICOs……. what a surprise…. 😮

  5. On February 13, 2018 at 8:42 am,
    Silverdollar says:

    Anybody here read Stewart Thompson besides Matthew? http://www.321gold.com/editorials/thomson_s/thomson_s_021318.html

    • On February 13, 2018 at 10:10 am,
      b says:

      Nobody Knows Anything…is a good book.

    • On February 13, 2018 at 10:49 am,
      Matthew says:

      Stewart is absolutely right that investors “should be emotionally positive and focused more on gold stocks than bullion.”

      • On February 13, 2018 at 11:20 am,
        b says:

        Is that a case of a broken clock?
        In 2014 he didnt get too much of anything correct.

        I could post his record but its kinda longish.

        Nobody Knows Anything is infinitely superior to Mr Thompson.

        But heck, ya cant blame anyone for makin a living.

        • On February 13, 2018 at 11:48 am,
          Matthew says:

          Stewart isn’t the greatest with short term calls but the average guy is bad trader anyway so the bigger picture focus makes the most sense for most people. Stewart has that right and I can tell you this, buying weakness and selling strength using Stewart’s “pyramid generator” means not having to worry about wrong opinions. AND buying weakness throughout the bear market while staying big-picture bullish would have saved a lot of dumb money from permanent losses. Since dumb money doesn’t play uptrends OR downtrends correctly, it would have been better served by sticking with bulls like Eric King and Stewart than most of the bears (who looked so smart and serious -for awhile).

          The bears completely blew it in late 2015/early 2016 and most of the wannabe bulls did too. It was the very bullish “buy weakness” guys who made big money. It’s going to be the same this time. Everyone wants to buy low but almost no one does. Then, almost everyone goes into denial when the bull move gets going. Some even short it! None learn their lesson.

        • On February 13, 2018 at 11:49 am,
          Matthew says:

          B, with Stewart’s methods, you could be makin a living, too.

  6. On February 13, 2018 at 8:49 am,
    Excelsior says:

    Eat your heart out Technicians and Chart lovers….. as Rambus has quite a detailed post that covers the TA on a number of sectors:

    ____________________________________________________________________

    Weekend Report-The Topping Process Begins. The Bubble Finds its Pin.

    February 11, 2018, 5:49 am by Plunger

    https://rambus1.com/2018/02/11/weekend-report-the-topping-process-begins-the-bubble-finds-its-pin/

  7. On February 13, 2018 at 8:55 am,
    Matthew says:

    The dollar is a sell on the very short term charts and doesn’t look buoyant at all:

    (2hr)
    http://stockcharts.com/h-sc/ui?s=UUP&p=120&yr=0&mn=3&dy=9&id=p13791527929&a=576312048

  8. On February 13, 2018 at 9:01 am,
    Excelsior says:

    India’s Oil Consumption Grows at Fastest Pace in 14 Months

    By Saket Sundria and Dhwani Pandya – February 12, 2018,

    “Diesel usage expanded 14.5 percent, gasoline grew 15.6 percent”

    https://www.bloomberg.com/news/articles/2018-02-12/india-s-oil-consumption-grows-at-fastest-pace-in-14-months

    • On February 13, 2018 at 9:14 am,
      Silverdollar says:

      This doesn’t bode well for the air Indians breathe. Besides the trucking industry which is massive, they have a few hundred million two-cycle engines running the poor man’s taxies.

      • On February 13, 2018 at 10:08 am,
        Excelsior says:

        Agreed. This is why Electric Buses and eBikes are getting so big in China and Thailand, and this will likely spread into India as well – strictly on air quality concerns.

        It is also why they need solid base load energy that is not belching toxins into the air, and thus India’s plan to build a fleet of nuclear reactors.

  9. On February 13, 2018 at 9:42 am,
    Matthew says:

    FYI to the stock market bugs, the S&P is up roughly 50% in the last two years while GDXJ is up 100% (despite being down 36% from its 2016 high).

    http://stockcharts.com/h-sc/ui?s=GDXJ&p=W&yr=3&mn=0&dy=9&id=p19752937778

  10. On February 13, 2018 at 10:49 am,
    OOTB Jerry says:

    Rhodium ..,,,,$1660…..over $100 in a couple of months…

  11. On February 13, 2018 at 10:52 am,
    OOTB Jerry says:

    Abby Cohen……Goldman sakers………says we are in a BEAR MARKET…

  12. On February 13, 2018 at 6:46 pm,
    johnnygeneric says:

    I shorted the VIX and made a lot of money.