Debunking some of the gold chart myths

September 25, 2019

Jordan Roy-Byrne joins me to look at the gold and gold stock charts and debunk some of the myths being touted. We start with the head and shoulders pattern that a lot of people are pointing to as short term bearish for gold. We also balance out the bullish and bearish arguments that address just how extended the market is. Finally we wrap with a comment on the over all volatility in the precious metals currently.

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    Sep 25, 2019 25:42 PM

    Jordan’s comments about head and shoulders patterns are right on and I do not think that today’s action is the start of a big move down or a multi-month consolidation.
    The miners bullishly provided very little downside leverage to the metals today and nothing technically significant has happened.

    Sep 25, 2019 25:14 PM

    Jordan with the big move up in gold last couple months we are quite a bit above 200 day moving average and aren’t we do for an intermediate cycle correction before gold and miners can start next upside move?

      Sep 25, 2019 25:29 PM

      Martin Armstrong blew up a hedge fund. Then he ran a Ponzi scheme to hide it. Then he said the government was out to get him. Then he claimed he has a computer which can predict the future.

      Sounds legit.

      He has a cult following. I feel bad for those people.

        Sep 26, 2019 26:13 AM

        He has business people corporations and gov that will not admit they follow him. No ones perfect. How many people are following Tim? Zero I think.
        There will and can never be a gold standard. You cant even get yoir taxes lowered. The whole systems a sham. I use to talk to the 3 top hedge fund managers in Canada they all blew up…Glad I sold……

          Sep 26, 2019 26:24 AM

          We can talk about the mega things MA ACCURATELY HAS predicted….known him near 20 yrs NO ONE is even close Tim

      Sep 26, 2019 26:12 AM

      I’d like to know if Martin’s followers captured the huge gains in the gold/silver miners in 2016. Plenty of people bought his gold report in 2015 and based on the silence since, I don’t think it worked out very well.

        Sep 26, 2019 26:46 AM

        No they didn’t. They’ve been going on about $900 Gold forever. It was similar 20 years ago when they said Gold had to go to $170 or something before it bottomed.

    Sep 25, 2019 25:39 PM

    Gold bugs understand the cycles………and stupidity of it all…..
    Most do not understand gold……..and it bugs them……lol

    Sep 25, 2019 25:49 PM

    Fremont Cop Radios For Help After His Tesla Battery Dies During High Speed Chase

      Sep 25, 2019 25:47 PM

      As I was informed last year by a very knowledgeable source: In any given neighborhood, five or six people with electric cars trying to charge them at the same time can overload the grid. If electric cars are the future, it’s gonna take a helluva infrastructure upgrade to support them.

        Sep 26, 2019 26:19 AM

        By trade Im am engineer and have owned an electric for 4 years…while the cars are indeed impressive there will never be enough power / infrastructure to charge them all… and the saving the planet promo is crap.

      Sep 26, 2019 26:53 PM

      Hummm, any truth to this one…….
      And so does Martin Armstrong, a self-taught economist with a cult following who spent years behind bars for what the U.S. said was a $700 million Ponzi scheme and for allegedly hiding assets, including what may be those very same coins.

      Armstrong’s story is one of Wall Street’s more bizarre tales — and the newest chapter makes it even more absurd.

    Sep 27, 2019 27:07 AM

    And you believe news / gov or wall street?
    You didnt see The Big Short?

    Sep 27, 2019 27:38 PM

    MA called the big move is the in the DOW while others been calling for a crash for 5yrs! Gold down 15% from the peak….DOWs up about 150%…LOL Gold bugs…Im not a gambler. I sold 95% my metals near the top.