Loading ...Close below $1485 on December Comex gold confirms correction.
rno
Oh Well
Gold 1495.90
Silver 17.50
Message to the banksters.
Samb @ 17:41
Thanks for the reply. Sounds reasonable.
For me I guess I’ll just stand pat full long. You never know when some economic land mine will change all.
Plus it seems to me the metals did great in this last run up when the SM was falling. The PM shares were winners too at this time.
Cheers
Ipso @ 14:44
Yes, The shortest Int. Cycle that I can recall over so many years came in after only 7 weeks but, that was a one time outlier. Two months would bring us to early Nov…that would still be quite short in time for this downtrend to end. I don’t try to say how long in time or deep in price because then I would then only be guessing.
We have many options on how to play these corrective downtrends. You can simply stay with Buy and Hold because in a major Gold Bull you will eventually be rescued even if you had bought at the very top of the last cycle.
Far better would be to sell some and rebuy at the next Int. low providing you have some decent trend reversal signals. What I did was to buy DUST. Some prefer PUT options but, I prefer the 3x ETF’s as I am then not so concerned with time erosion. We might get off easy this cycle in terms of both time and price…Who knows? I just won’t assume the best happens.
I still see 10’s haveing triple bottom @ 1.5 %, on Monthly, it will take something big to knock it out, so more upside first.
Silver looking at lousy monthly close, as do many stox….Samb may well be right, we could take some time….
Usual save in the SM in last 30 mins, no doubt 100 k plus S&P futures long, thrown into scum bottom draw……
To the week just past
Good riddance!
Have a great weekend everyone!
Samb @ 14:44
Are you so convinced of this int. downturn that you are selling your PM shares?
COT Report
Silver pretty blah, but gold? Never seen the banksters go above 500K shorts since I’ve followed gold. I know they don’t ever have to cover, but God forbid if they ever did. Crazy stuff if it even matters.
Capt. – You too
Maddog – rates are coming back in with the SM falling out of bed, I’d like to see a much stronger close than we seem to be headed for right now. Futures might make it above $1500 – barely. Spot, unfortunately not.
Snore…been a few weeks now.
Intermediate Cycle Lows
Without mentioning names: It has become glaringly obvious that some posters on this board don’t have the foggiest notion of what an Int. cycle is or what it means to our PM investments. To Rah Rah it up and having proclaimed that this ICL will be over in 3 weeks ie., by Oct. 1st is simply ludicrous. It means that they don’t understand what an Int. trend is or that they refuse to acknowledge that we did enter the beginning of an Int. cycle decline in early Sept. These declines can cause a give back of 50% or more of the previous PM stock gains from the ICHigh which commenced in late May and ended in early Sept. The overall major cycle is confirmed bullish but, we will certainly have these major corrections all along the way up. To deny them is foolhardy.
Buygold @ 14:34
Ya it’s derivatives related crap.
Get rid of the derivatives and PM’s would fly.
Cheers – Have a good weekend
treefrog, Ipso, Captain, RNO
treefrog – you are definitely right about “conservative hands”. The major problems will be in the urban areas for the military when it comes to enforcing a Martial Law situation. I guess I meant that the military might even need “conservative” assistance. Urban areas in red states will easily be contained. Blue states will be a different story. JMHO
Ipso – Yes. Time for the Saudi’s to get out of their “Vietnam” aka Yemen. Back in the day, the Saudi’s were some of the laziest and least willing troops in the Middle East. They just don’t have the desire to fight. Who could blame them when the kingdom took care of most of their needs?
Capt., RNO – With you on a close above $1500 going into October but there seems to be a lot of pressure against it, although rates are coming back in. Some of the shares are trying to hold up. Might be an interesting last hour.
wow !!!!….summat is goosing the PM’s….the shares are in shock still.
Is this China tarrifs or more Dem madness.
treefrog @ 13:05
Yes if gold can close the month over $1500 that would be encouraging.
And if we follow up with a good showing in October, it could be a Merry Christmas indeed.
Cheers
Comex gold green close
I think I can……..I think I can……..I think I can……
rno
rno,
maybe a decent close?
it’s beginning to look a little better. if we close on a rising note, maybe monday will be positive.
Comex gold
Gold has turned up again on the 15 minute chart. Maybe we get a decent close.
rno
The IMF is warning that “global economies” will contract by $455 billion
IMF (international monetary fund) and Trump.
The IMF is warning that “global economies” will contract by $455 billion next year due to the ongoing trade conflict between the U.S., China, the EU and to a lesser extent, Japan.
President Trump will cost the “Global Economy” $455 billion…. because that money will be transferring back to the America First economy. That’s what happen as MAGAnomics reverses the IMF trade (wealth distribution) model.
China and the EU have devalued their currency in an effort to block the impacts from President Trump and the ‘America First’ trade policy. Because those currencies are pegged against the dollar, the resulting effect is a rising dollar value. In essence, the globalist IMF is now blaming President Trump for having a strong economy that forces international competition to devalue their currency.
In the bigger picture is why President Trump is the most trans-formative economic President in the last 75 years. The post-WWII Marshall Plan was set up to allow Europe and Asia to place tariffs on exported American industrial products.
Those tariffs were used by the EU and Japan to rebuild their infrastructure after a devastating war. However, there was never a built in mechanism to end the tariffs…. until President Trump came along and said: “it’s over”!
After about 20 years (+/-), say 1970 to be fair, the EU and Japan received enough money to rebuild. But instead of ending the one-way payment system, Asia and the EU sought to keep going and build their economies larger than the U.S. Additionally, the U.S. was carrying the cost of protecting the EU (via NATO) and Japan with our military. The EU and Japan didn’t need to spend a dime on defense because the U.S. essentially took over that role. But that military role, just like the tariffs, never ended. Again, until Trump.
The U.S. economy was the host for around 50 years of parasitic wealth ex-filtration, or as most would say “distribution”. The term *ex-filtration* better highlights that American citizens paid higher prices for stuff, and paid higher taxes within the overall economic scheme, than was needed.
President Trump is the first and only president who said: “enough”, and prior politicians who didn’t stop the process were “stupid” etc. etc. Obviously, he is 100% correct.
For the past 30 years the U.S. was a sucker to keep letting the process remain in place while we lost our manufacturing base to overseas incentives. The investment process from Wall Street (removal of Glass-Stegal) only made the process much more severe and faster. Wall Street was now investing in companies whose best bet (higher profit return) was to pour money overseas. This process created the “Rust Belt”, and damn near destroyed the aggregate manufacturing industry.
Unfortunately, putting ‘America First’ is now also against the interests of the multinationals on Wall Street; so President Trump has to fight adverse economic opponents on multiple fronts…. and their purchased mercenary army we know as DC politicians.
No-one, ever, could take on all these interests. Think about it… The EU, Asia, World Bank, International Monetary Fund, China, Russia, U.S. Chamber of Commerce, Iran, U.S. Congress, Democrats, U.S. Senate, Wall Street, the Big Club, Lobbyists, Hollywood, Corporate Media (foreign and domestic), and the ankle-biters in Never Trump…. All of these financial interests are aligned against Main Street USA and against President Trump.
Name one individual who could take them on simultaneously and still be winning, bigly.
They say he’s one man. They say they have him outnumbered. Yet somehow, as unreal as it seems, he’s the one who appears to have them surrounded.
Comment:
Their media keep nitpicking Trump about some stupid info. Who said it? Probably the same “guy” that said Sandam had weapons of mass destruction.
On a global scale it’s almost like Reagans “welfare to work fare” agenda when they thru millions off welfare rolls in the USA. Now many countries and global corporations see themselves losing their welfare benefits. 🙂 Good guys finish last. No more stupid Mr. Nice guy USA.
Have any China stocks.. probably not here
If you do watch out!
I saw the Dow wants to go down for now. Didn’t see this.. Bloomberg: American capital flows being restricted to China plus talk of delisting China stocks.
@The CoinGuy…back in your posts from 2011-2013 you did pretty good with XAU and HUI
But Gold only made it down to 1045, not 350 as you called for
SPX has been up ever since
-> Posted by TCG @ 21:52 pm on February 13, 2012
SPX 530(+10/-10)
HUI 78(+2/-2)
Gold 350, with possibility of 490(+30/-30) holding, but I’m doubtful. 350 Should be the spike.
drb2 @ 11:06
Assuming Comex/CME still honor their contracts moving forward…you are right.
Of course I’m hoping like heck silver doesn’t go back down to the range you cite.
If this is a bull market then at some point the trillions fleeing bonds, stocks, everything else should overwhelm the criminals running PM paper.
So I prefer staying long non-derivative based PM’s because at some point that distinction will mean something when empty promises come to light/become important again.
Cheers
Time for the Saudis to end this
Oil Tumbles On Report Saudis Agree To Partial Ceasefire With Yemen
https://www.zerohedge.com/geopolitical/oil-tumbles-report-saudis-agree-partial-ceasefire-yemen
@ Capt. Hook RE: your 9:29 post
what do you think of this strategy?
use the COMEX suppression against them using Silver Puts
- wait for waterfall decline (say to $15)
- sell COMEX Put under bottom price (say $13-14) with means & intent to take delivery
- collect premium ….or take delivery of $13-14 silver
seems much safer than buying mining stocks run by crooks