narco

Technician John Bollinger: Gold Bull Market Has Ended

He would have said exactly the same at the tops in 06 and 08 based on those technical signals.

Which assets do you think dollars are appreciating against? As far as I see dollars and other fiat currencies are all devaluing as they have done for decades. Currently we are in a massive credit crisis which means things bought with credit are getting cheaper, physical stuff not bought with credit is appreciating against the dollar.

 

The only thing that is appreciating with the dollar is the amount of them in existence, it is the last thing I would want to hold for any amount of time.

 

Here is a long term monthly chart of the USDX. Stop talking about how it is appreciating, it isn't.

 

Looks like one of these.

Martin Armstrong sees it going over $5,000, Jim Sinclair's model suggest over $12,000

 

Yet you want to sell?

 

Either you are painfully unaware of the awful fundamentals of the US economy and the USD...or you know something I don't.

Everyone in the world has the same view as this right now and that is what worries me the most.

Those numbers above are probably right when the United States defaults on their debt. This is probably something that is going to take many years to play out.

I am looking at the daily candle on the gold price, it looks like it could be a hammer which could indicate a pull back. Be careful and manage your risk levels.

Yes a few concerns right now. The HUI now at March 2008 levels, hopefully not a double top and silver still short of the March 2008 high.

There are some bullion dealers that will buy at just under spot when the market is going up of course

Cheers, on the hunt now to see if I can find a reputable one nearby.

C.I.D. have a 'buy' price for every coin / bar they sell. Also, you have to send your items to Germany, so that won't be cheap (insured)

Yeah I fell out with CID a while ago and no longer deal with them.

Is there a thread about selling gold on here? I can't find one. I'm starting to look at offloading a few coins but obviously looking to get the best bang for buck as possible.

Ebay & Paypal fees are astronomical!

What would you sell it for [genuine question]? Sterling, dollars, Yen or property?

 

And would I be right in guessing you are now near 100% invested in bullion?

Going to move 50% of my gold stash into Dollars as I'm moving there. I also think the USD will be strong for quite a while during the next phase of the economic bear market.

I have around 80% of my wealth in precious metals. I've accumulated Dollars over the last few months.

Obviously that makes you a trader. The downside risk is not only price action, but generally parting with your physical position.

Not a trader, just cashing in on a few profits as I'm moving to the states in early 2011 and bought gold in the $600's... Also I'm not sure they will allow me to bring that many coins to the USA.

I'm still holding firm on the rest of my gold and silver position. I think this bull has many many years left.

That's a big call. Care to extrapolate?

I think we could get into the band probably somewhere roughly the £1275 - £1350 region between now and late spring 2010.

Gold could of course blast through that area or fall short of it but that is where I plan to exit.

I'll be watching the monthly RSI. 90 appears to be a significant topping area.

I'll be looking to offload half my phyiscal position if gold enters the top band on the monthly chart.

Scary!

 

Everybody should listen to this. Direct link to mp3 page:

http://libertyarchives.com/farlive/FS2_WED.MP3

He talks about them 'devaluing the dollar' but doesn't explain how they could even do that. The exchange value of the dollar is entirely controlled by the market, not the Fed or the US Government.

Of course they could intervene in the market but how exactly? The Fed is already backed into a corner in terms of a potential audit and the government is flat broke.

Why would you want to let the world know you intend to buy more gold? This report smells like a reverse Brown's bottom.

Let's hope this isn't the Brown top then.

M1 multiplier still locked in below 1

Monetary base off the charts.

CPI and RPI adjusted gold prices are nonsense. The best way to look at the historical gold price is to compare it to previous and current money supply figures.

Even if you compare M1 to Gold you'd be probably looking at something close to $10,000 per ounce.

Also I'm not too sure about Asia selling the rallies every single night. When gold rocketed in late 2007 into early 2008 the complete opposite happened.

Jim has been consistantly wrong about gold for the last 14 months. How many predictions has he made about gold being about to VAULT up?

Every trader in the world has now got their eye on this inverse head and shoulders.

Bob Prechter and his team expect this to fail. Let's see who is right. Although looking at the pattern it could even take another 5 or 6 months to play out.

Hmm reminds me of the Bear Sterns event where gold spike up to $1030 overnight. Something big has happened.

Nice good old fashioned cartel smackdown. Not seen one of these for a while.

Interesting find

 

http://cgi.ebay.co.uk/1kg-Silver-paper-wei...A1%7C240%3A1318

You think he got authority to use this quote?

“Protect yourself. Hyperinflationary depression is 100% Guaranteed” - Cgnao*

As much as that chart looks pretty I have to say it is inacurate due to the massive dollar depreciation over the last 35 years.

A CPI adjusted one might make more use or even a chart of gold against M3? I think Goldfinger might have one lying around.

You mean the dip from $1,500 to $1,350?

 

Yes, why not? Sell now, wait until it goes to $1,500, and then buy the dip at $1,350.

LOL

This chart is amazing. We are now closing in on testing 30 year lows on the CRB index! Currently 209.06

narco posted a pretty provocative chart today over in The Pound is Toast thread:

Eeek.

I guess the pound should be due a bounce before it gets the Icelandic style chop. No idea when or how long though.