Richard Postma - The Doctor Is In – Fri 11 Jan, 2019

Is Doc Wrong On His Call For Gold $1,210?

Doc has been taking some slack for his call of gold dropping back to $1,200-$1,210. I let Doc weigh in on if he thinks this range is still in play. We also look at the longer term charts to assess the bottom that is being formed.

Doc on his gold to test $1,210 call
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Comments:
  1. On January 11, 2019 at 9:54 am,
    Wolfster says:

    Hey Cory. I replied already under yesterday’s comments but will paste it here as well so it’s fully understood what the issue is cuz I may have phrased it bad

    Thanks Cory. I should probably clarify by links I mean the kereport links. On my iPad I only have Jeff’s link from Wednesday that had 4 comments in its section but the link that was Chris’s that had 104 comments or so doesn’t even exist. Yet it’s there on my iPhone

  2. On January 11, 2019 at 10:04 am,
    spanky says:

    A true *trending* bull market should see the 20 WMA act as strong and consistent support IMO.

    It’s obvious to say that $gold will, at some point, come back down to test its 20 WMA. The million dollar question is, when? The cyclists will say that gold is on week 18 of an intermediate cycle that typically lasts 24-30 weeks. So if gold has topped (still an open question–a weekly swing high will likely mark the top since we are late in the cycle), we have 1-3 months of corrective action ahead of us before an intermediate low is put in.

    If you are a bull that believes we have begun a multiyear trending bull in gold and the miners, then “buy the dips.” You will likely never nail the absolute low, so just buy red days and be prepared for further weakness. It’s as simple as that.

  3. On January 11, 2019 at 10:37 am,
    Silverdollar says:

    FWIW, this article by Avi roughly supports Doc’s thoughts: http://news.goldseek.com/GoldSeek/1547216529.php
    Personally, I believe we won’t be going anywhere until the NY markets all cave in.

    • On January 11, 2019 at 1:22 pm,
      RICHARD/DOC says:

      I haven’t always agreed with AVI but I do with this recent article.

  4. On January 11, 2019 at 10:41 am,
    Silverdollar says:

    Listening to Doc talk about the ‘long term’ being a good thing that will be explosive the longer it takes we must remember, in the long term………..we’re all dead. Just sayin’

    • On January 11, 2019 at 1:21 pm,
      RICHARD/DOC says:

      Silver, this year should be the absolute bottom for PM stocks. Many will no longer move lower and will just trade in ranges whereas there are a few that still have their lows to make.

      • On January 12, 2019 at 8:18 am,
        Silverdollar says:

        Thanks Doc for the comeback. I enjoy what you have to say.

  5. On January 11, 2019 at 10:41 am,
    Dick Tracy says:

    Doc are you raining on our board again. Darn it, I wanted to see gold go much higher. I guess I will just have to stop levitating. LOL! DT

    • On January 11, 2019 at 1:23 pm,
      RICHARD/DOC says:

      DT, sorry, but our day will come.

  6. On January 11, 2019 at 12:18 pm,
    Max says:

    Doc, wrong ?

    Like the Doctor said, “i don´t think so”.
    I remember some years ago, Avi had some projections/EW Counts about something and Doc said, Avi better check his charts, and what happened ?

    Avi was wrong. That´s ok, nobody i right all the time…or maybe…

    Doc, how much for that crystal ball of yours ?

    People have called the Doctor out many times, don´t do that, you will get spanked.

    • On January 11, 2019 at 1:09 pm,
      RICHARD/DOC says:

      LOL. Thanks Max. As a physician you make a lot of diagnosis and have to be objective. Then you treat and write prescriptions. I look at technical analysis as a similar trade. You remain as objective as possible and let the charts do the talking. Rick Ackerman is successful since he does the same thing. You diagnose the trend of a chart by looking at your primary variables and then look at multiple other charts in a sector that help to add credence to the variables you’re watching. Then you give a prescription based on that. Sometimes a chart can be unfathomable at a particular point in time but it always ultimately gives it’s hand away. Kind of also like a game of Texas hold em where odds come into the picture as well.

      • On January 11, 2019 at 2:05 pm,
        Max says:

        Thanks Doc, you and Rick A. are top notch.

        Follow the charts, Always 🙂

  7. On January 11, 2019 at 1:11 pm,
    CFS says:

    I am not a chartist. What surprises me is how different charts can look in US dollars, compared with Canadian or Aussie Dollars.

    Also interesting is the incompatibility of “experts” predicting a dollar collapse with gold being flat. For, if the dollar were to collapse, where other than precious metals would the money go?
    Surely seeking haven in other currencies appears foolish.

  8. On January 11, 2019 at 1:37 pm,
    irishtony says:

    I may be out of my depth here.
    With whats going on in the the Us today with the dollar , if i was going to trade , i would go long the Ruble/Yuan , & short the dollar….+ buy gold .

  9. On January 11, 2019 at 2:22 pm,
    b says:

    Rogers has been saying that for some time now, trend wise anyway.

    It makes perfect sense, as the one belt/road is built the people along that road will gravitate to yuan and their home currency of course.
    Just so much easier.

    There wont be any need for dollars.

  10. On January 11, 2019 at 4:04 pm,
    Chartster says:

    Doc said about three years ago that gold would see a U-shaped recovery. If you look at the weekly charts and draw the line, it’s “exactly correct”.
    Great call, Doc.

  11. On January 11, 2019 at 4:31 pm,
    Matthew says:

    Well… technically, Doc, you were wrong. Gold was $50 or more lower when you said it was topping and would pull back to 1200-1210. You also thought the miners were topping when they were much lower. In addition, if I remember correctly, you thought gold was going lower when it hit 1160 in August.
    As for being “spot on” for the last several years, that’s wrong too. You were spot off repeatedly in 2016 and even told Al on Feb 5 that year that gold would soon head down and that you “will be shorting the gold market next week.”
    Doc, you were constantly bearish when you should have been bullish even though the miners were behaving completely bullishly. It is accurate to say that your 2016 calls were consistently wrong and more than one listener pointed it out (I was not one of them).

    On Feb 5, 2016, you said you intended to buy miners (for the first time in a long time) that spring at a lower price but GDX was 20% higher when spring arrived and 60% higher when it ended.
    http://schrts.co/5zWsj3

    I’m pointing this out for the sake of accuracy, not because I’m always right — which I absolutely am not.

  12. On January 11, 2019 at 9:51 pm,
    Scott says:

    Doc,

    Have you looked Wien’s track record? He’s an insider yet is only correct about 50 percent. Three years he’s said the 10 year would crack 4 percent and oil would break 80 bucks. He’s said a lot of other dumb things too. He seems to believe that Trump could very well start a war with Iran. His base would dump and that would be the end of Trump

  13. On January 12, 2019 at 11:31 am,
    Sammy says:

    Thanks Matthew!!! Love u r posts …

    • On January 14, 2019 at 3:34 pm,
      Matthew says:

      You’re welcome, Sammy, I appreciate that.

  14. On January 17, 2019 at 5:29 am,
    Max says:

    “It is difficult to make predictions, especially about the future”

    Your charts are very much appreciated, Matthew.