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+1 last bull et al

 

You sound like the politicians when oil was at $140, speculators are to blame. It's just people protecting their wealth ahead of the surge in prices expected in September. Think you are wrong expecting a drop is more likely than a rise. As I was saying earlier support is at $940 and resistance at around $965.

 

I think we will see a strong move through $1000 in September, on our way to a target of around $1400. Could happen as soon as next week, if the FED are forced to announce which banks got the money, as the court ruled this week.

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You sound like the politicians when oil was at $140, speculators are to blame. It's just people protecting their wealth ahead of the surge in prices expected in September. Think you are wrong expecting a drop is more likely than a rise. As I was saying earlier support is at $940 and resistance at around $965.

 

I think we will see a strong move through $1000 in September, on our way to a target of around $1400. Could happen as soon as next week, if the FED are forced to announce which banks got the money, as the court ruled this week.

 

gold-2.jpg

Looking at that chart brings to mind an idea I have been toying with lately. Take those two converging lines and carry them through so you have an X pattern.... with its axis remaining on the slight incline of course [roughly represented by the 50 MDA]. Carry through also the volatility in the price, so it is very stable at the beginning and becomes more unstable and volatile as the lines diverge.

 

The decreasing volatility in the first section of the X would represent the volatility in gold as the market tried to price it and then its stability as it was effectively monetized as a currency post QE. The increasing volatility in the second section would represent the increasing volatility of currencies not gold itself. The apparent volaltiity will be in the price as the value of currencies wax and wane as capital flows between them and the market tries to find some new level for currencies. This volatility will represent the market's attempt to price other currencies [with which gold happens to be priced]. At some point we would price gold in the stablest currency which might be Yen... or who knows, perhaps SDRs.

 

Massive volatility in gold might not be seen again until currencies start to get into trouble which could be a year away.

 

Notice the lower extended line on a slight decline [second section of the x pattern] would put an approximate floor of 900 under gold while the upper line [previously the lower line] on the incline would put in a higher ceiling of between 1000 and 2000 depending on how far out you drew the line [it would be a rough mirror image of the first section] The price could become hugely volatile once again, between the diverging lines, but this time reflecting currency crises.

 

X.gif

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Turn the chart into a jpg and then use a photo programme to mirror and then flip it?

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I'll be interested to hear what Bob Hoye has to say later today on his Friday wrap-up on Howe Street.

 

Interview is up and here:

 

hoye 28 aug

 

"The rebound is done."

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It means that the anticipated rally, the "tradeable rally" that Bob predicted last autumn/winter, has happened and is ending.

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It means that the anticipated rally, the "tradeable rally" that Bob predicted last autumn/winter, has happened and is ending.

 

Wondering what is happening in gold market. Dr Bubb you were looking to buy gold in a downturn, do you see any change in your approach to gold now?

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It means that the anticipated rally, the "tradeable rally" that Bob predicted last autumn/winter, has happened and is ending.

 

Yeah right!

 

Coz paper is back in fashion?

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Gold?

imo gold will remain strong in any sell-off in the markets. QE and currency concerns has put a good floor underneath it. Siver is much more likely to go on a ride.

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The "tradable rally" refers to stock markets.

 

He seems to anticipate a rerun of last autumn's deleveraging.

 

He also expects silver to drop a lot like last autumn.

 

Exactly. Thanks.

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Hey guys, could anyone provide me with links to the threads where PM ETFs get discussed, i.e. why you shouldn't really invest with them? ;)

 

Cheers.

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nice........

 

xin_45207061420256402205610.jpg

A staff shows the commemorative gold and silver bullions marking the 60th anniversary of the founding of the People's Republic of China, on July 14, 2009. The commemorative bullions, which are issued by China Banknote Printing and Minting Corporation and distributed solely by China Golddeal Investment Co., Ltd, will be initially sold at the Beijing Caibai Shopping Mall on July 23, 2009. The products are divided into two series: the "Long Teng" ("Dragon Flying") and the "Feng Wu" ("Phoenix Dancing"). (Xinhua Photo)

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Hey guys, could anyone provide me with links to the threads where PM ETFs get discussed, i.e. why you shouldn't really invest with them? ;)

 

Cheers.

Any comments?

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Any comments?

From what I remember there isn't a specific thread, the ETF comment has been mixed into others.

 

 

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Any comments?

I did have a look for CGNAO's old comments on the gold thread on HPC, but it's 730 odd pages and the search function is rubbish...

I'm sure he called paper gold 'fools gold', and I've got a feeling it was like december 2007 or thereabouts.

I mean we do know the administrators of the COMEX warehouses are the bullion banks (HSBC, JPM etc..) so I guess they loan it out to shorters, or short with it themselves.. in effect they use your gold against you.

 

There's also this PDF (pirates of the COMEX).

 

You could also see GATA.

 

Or the short history of the gold cartel below (sorry, word document)

 

Also some compelling evidence here:

silver etf isnt 100 percent real

 

 

PIRATES_OF_THE_COMEX.pdf

A_Short_History_of_the_Gold_Cartel.doc

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I did have a look for CGNAO's old comments ...

Cheers! I guess I'll also look up James Turk's stuff, and Jim Sinclair's. Maybe Ted Butler. :)

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Cheers! I guess I'll also look up James Turk's stuff, and Jim Sinclair's. Maybe Ted Butler. :)

 

Yep, guess if you scan through GATA, 321gold, etc. you should find a lot to read on the topic pretty fast.

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Wondering what is happening in gold market. Dr Bubb you were looking to buy gold in a downturn, do you see any change in your approach to gold now?

 

I bought just two Gold coins, which was merely as a trial run.

 

I am still waiting.

 

If the Dollar starts a rally, it could be trouble for Gold

 

aa3d.gif

 

This long triangle is going to break very soon.*

 

Seasonally speaking, it should go higher.

But we never got much of a dip in July/August, so gold could be tired.

 

Falling stocks may hurt gold again this year, as they did last year

== ==

 

*Note:

Such triangles often finish with a brief "false break", and then

a major move in the opposite direction

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*Note:

Such triangles often finish with a brief "false break", and then

a major move in the opposite direction

 

For information

 

WYCKOFF said:

 

Spring , shakeouts Test usually accur late within the trading range and allow the maket

and its dominant playes to make a definitive test of available supply befor a markup campaign will unfold.

 

 

 

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