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When you wish upon a star…makes no difference who you are…la-la-la!

Posted by Richard640 @ 22:15 on June 14, 2019  

We have learnt from a mistake made early in 2016 when we called the end to the strong rally in progress then off the lows of the giant complex Head-and-Shoulders pattern too early due to high Commercial short and Large Sec long positions.

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A key point to make at this juncture is that the latest COTs for gold looked bearish because there was an explosion in Commercial short and Large Spec long positions to an at least 1-year peak, which many are taking to mean that gold will fail again at the big resistance at the upper boundary of its huge base pattern. But what may instead happen this time is that gold breaks out anyway, perhaps after backing off a little first, and rockets higher, with positions ballooning to well off the scale levels, which would hardly be surprising since if gold breaks out above $1400 a huge number of investors and traders will come down off the fence and pile in. When they have reached wild extremes on a spike, then we will see a correction or at least a consolidation before the next upwave starts. We have learnt from a mistake made early in 2016 when we called the end to the strong rally in progress then off the lows of the giant complex Head-and-Shoulders pattern too early due to high Commercial short and Large Sec long positions.

https://tinyurl.com/y3cpoq3c

ipso & King

Posted by aggie @ 21:12 on June 14, 2019  

Thanks for the welcome. No, was not in sugar.

dbbaba

Posted by ipso facto @ 19:38 on June 14, 2019  

Welcome back!

FYI-COTs–as of Tuesdays close-horrific!-so how did G&S do as well as they did?-even today gold ended green.

Posted by Richard640 @ 18:44 on June 14, 2019  

 

Losing their effect??

The Commitment of Traders Report

Silver

*The large specs increased their long positions by 8,572 contracts and decreased their shorts by 2,531 contracts.

*The commercials increased their longs by 3,438 and increased their shorts by 16,340 contracts.

*The small specs increased their longs by 1,400 contracts and reduced their shorts by 399 contracts.

The commercials are now net short 25,191 contracts, as of last Tuesday.

Gold

*The large specs increased their long positions by 9,637 contracts and reduced their shorts by 18,486 contracts.

*The commercials increased their longs by 5,202 contracts and increased their shorts by 34,653 contracts.

*The small specs decreased their longs by 2,608 contracts and reduced their shorts by 3,936 contracts.

The commercials are net short 202,027 contracts.

Dbbaba–yeah, that was a good one–were u in on the sugar trade, too?

Posted by Richard640 @ 18:33 on June 14, 2019  

This is another reason gold is not going to just dry up and blow away

Posted by Richard640 @ 18:31 on June 14, 2019  

-this was on yesterdays WSJ front page-I call it a kind of “Magazine cover indicator”

How Washington Learned to Love Debt and Deficits

Political support for taming federal debt has melted away, and the U.S. is testing just how much it can borrow

William Hoagland has engaged in nearly every Washington budget-deficit battle for four decades. A longtime analyst and onetime senior Republican congressional budget aide, he brought a sensibility learned growing up on an Indiana farm: You’ve got to balance the books over time.

He feels like a voice in the wilderness now.

The theories about debt and deficits and whether they matter—once widely shared in Washington, on Wall Street and in academia—have fundamentally changed.

Thanks folks

Posted by Portugeezer @ 16:24 on June 14, 2019  

Goldie, Gillian and I went to The Rock of Gibraltar and got married on Tuesday.

Together 35 years.

The pictures were taken in the Gibraltar Yacht Harbour.

No news about my health, yet.

Good luck to all; let’s hope THIS IS IT!!!  Rich

King Richard

Posted by aggie @ 16:17 on June 14, 2019  

Have been here and never left gold.  Will never forget your tip on gold options, if I remember right $600.

Bought 20 and road. Thanks again King.

Deer79, & COT’s

Posted by Buygold @ 16:08 on June 14, 2019  

Deer79 – They can and do hit this stuff whenever they want. Today was obvious, HUI got up near two previous highs with an RSI over 70 and it was obviously toast. gold hits the nice round number of $1350 and toast as well.

As for “King Richard” he’s a good trader and I have little doubt that he was tits short for the obvious.

COT’s are even worse if that is possible, so look out below. Back to $1280 is my guess, war of any kind, whether trade or real is always bad for pm’s.

https://cftc.gov/dea/futures/deacmxlf.htm

 

dbbaba–long time no see–where ya been? Just lurking?

Posted by Richard640 @ 15:47 on June 14, 2019  

deer79

Posted by Maddog @ 14:46 on June 14, 2019  

They had to come in today, or the whole world will be looking at the Gold breakout..and that just can’t be allowed with all the debt that is out there and the SM at near record Hi’s. The mirage must be maintained or the people will wake up and wonder what the hell the idiots have done.

This week in the UK our dead duck PM, Treason May has enacted a policy into law that says the UK will be Carbon neutral by 2050, there was no parliamentary discussion allowed, she just issued the edict and parliament agreed, even her own Chancellor thinks it’s mad and said it will cost at least £ 1 Trillion, close down all our heavy industry, force all home owners to use only electric power, only electric vehicles, no more diesel lorries etc etc….

In a sane world our stock mkt should have collapsed…but tks to the rig it barely blinked …

Good to still see you King Richard.

Posted by aggie @ 14:23 on June 14, 2019  

I’m back for the new run in gold.

Posted by aggie @ 14:22 on June 14, 2019  

Test

Posted by aggie @ 14:20 on June 14, 2019  

Mr Cooper 11:25?

Posted by goldielocks @ 13:46 on June 14, 2019  

lol Can’t lose right now with dollar hedge. Esp if Gold can break through 1350.

Deer–yeah, what is fundamentally different from 9 hrs ago at 4.am?

Posted by Richard640 @ 13:32 on June 14, 2019  

The alibi today is maybe the FED WON’T cut rates…but they may have to…so we won’t call gold totally out of the picture=

It’s shaping up to be Albert Edwards‘ year, if not decade and century.
Three years after the stock of global debt with negative yields hit an all time high just above $12 trillion, the NIRP trap is back, and the amount of sovereign debt sporting a negative yield is just shy of all time highs, hitting $11.7 trillion today according to Bloomberg, nearly double where where it was just last September.
Of course, that this is taking place with the S&P500 just a few percent off all time highs is the reason why traders are having nightmares – this does not happen when everything is hunky dory in the economy, and in fact it is an indication that risk assets are overinflated only for one reason: expectations that the Fed will step in and “rescue” risk assets.
today we learned that Morgan Stanley’s Business Conditions Index has fallen dramatically.  In fact, according to CNBC the sudden drop in the index was “the largest one-month decline on record”…
A reading of the economy from Morgan Stanley is signaling “June gloom.”
Morgan Stanley’s Business Conditions Index, which captures turning points in the economy, fell by 32 points in June, to a level of 13 from a level of 45 in May. This drop is the largest one-month decline on record and the lowest level since December 2008 during the financial crisis, according to the firm.
Not even during the last recession did we witness a monthly decline of that magnitude.
The speed at which the global economy is now deteriorating is breathtaking, and the crisis that so many thought had passed us by could actually be right on the doorstep.

It just never ends

Posted by deer79 @ 13:11 on June 14, 2019  

It still seems the crooks can snap their fingers and take the price of the metals wherever they want.

Whoa! Just saw gold up 7.20–turned my head, literally 30 seconds, and it was up 2.10

Posted by Richard640 @ 13:07 on June 14, 2019  

Gold is safely under 1350 now–the emergency is over…

Mr Copper–thanks for pointing that out-I hadn’t noticed-yesterday the $ was barely up but today it’s up .531

Posted by Richard640 @ 12:49 on June 14, 2019  

so for gold to have any gain is unusual…but how long can gold buck a strong dollar and a deluge of comex selling? Silver has had a 25 cent reversal…Wow! They sure “prettied it up” from 9 hrs ago…what has really changed in the case for gold…nothing!

G&S may be in trouble…

Gold-Stock Upleg Mounting

Posted by ipso facto @ 12:29 on June 14, 2019  

The gold miners’ stocks have surged powerfully over the past few weeks, challenging upleg highs. Traders started returning to this small contrarian sector as gold blasted back above the psychologically-crucial $1300 line. While such early-summer strength is atypical, gold miners’ technicals, sentiment, and fundamentals all support more gains to come. Gold stocks need to mean revert to much-higher price levels.

http://news.goldseek.com/Zealllc/1560532953.php

FYI: US Dollar and Gold Going Up Together, Past Three Days,

Posted by Mr.Copper @ 11:25 on June 14, 2019  

Figure that one out. Either one of the two is lying, or both are good to hold with what’s been going on, trying to happen naturally, that TPTB are trying to avoid. A deflationary collapse. In a DEFLATION, money gains value. Gold and Dollars are money.

Stocks bonds and real estate, have gradually been used as a replacement of real “money” as Gold and Silver was weaned out as money after and since the 1913 Federal Reserve Act. So if the past 1913 to 2008 era is in reverse, things can get very interesting.

If stocks bonds and real estate (money replacement) start dropping in value, it would be like the 1929 crash when millions of people lost money that was not FDIC insured.

US Dollar, 3 days up with Gold:

https://finviz.com/futures_charts.ashx?t=CURRENCIES&p=d1

Gold:

https://finviz.com/futures_charts.ashx?t=METALS&p=d1

Portugeezer

Posted by goldielocks @ 10:41 on June 14, 2019  

Is that a recent photo? If it is congratulations.

Poll Results … not much irrational exuberance here

Posted by ipso facto @ 10:04 on June 14, 2019  

What will the price of gold be by the end of June?

$1340-$1350 (22%, 10 Votes)

over $1360 (22%, 10 Votes)

Under $1280 (11%, 5 Votes)

$1280-$1290 (9%, 4 Votes)

$1300-$1310 (7%, 3 Votes)

$1320-$1330 (7%, 3 Votes)

$1330-$1340 (7%, 3 Votes)

$1350-$1360 (7%, 3 Votes)

$1290-$1300 (4%, 2 Votes)

$1310-$1320 (4%, 2 Votes)

Total Voters: 45

Not so fast!! I, too, was thinking a contract dump might hit between 8:30 and 9:30

Posted by Richard640 @ 9:56 on June 14, 2019  

But that’s just too bad…if gold can recover and end the day near the highs or beyond, then we will really know if the buyer interest is strong enough to overpower the fixers…if it isn’t then we’ll know that gold isn’t ready…

IPSO FACTO is right and this is a great sign…the crimex crimminals may have sold the futures but the buyers of PM paper aren’t selling…prices are at or near the highs of the day…

ALSO stocks are finally starting to roll over…if they fall hard, then gold will still be in play for today…finally, after being up a lot even on days the DOW was down, the trannies are down 93

https://finance.yahoo.com/quote/%5EDJT?ltr=1

Maddog @ 8:44

Posted by ipso facto @ 9:46 on June 14, 2019  

Oh the humanity!

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.