"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat

Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput

Trader Dan's free work will soon be available at www.traderdan.biz

Tuesday, August 6, 2013

Gold Continues under Pressure in Asian trading

Once again, just like we have been seeing recently, gold is coming under selling pressure as it moves a bit further into the Asian trading session. I find this rather disconcerting if one is a bull because Asia has tended to be the region of the globe where gold has been rather buoyant. If the market is losing sponsorship from this region of the world where physical demand is key, it bodes poorly for the metal's prospects in the West in particular.

During the N. American trading session today, gold moved down towards the bottom of the range I have noted on the chart. That is near $1280. It managed to bounce higher as buyers entered down at that level and kept the range trade alive. However, here in the Asian session, the sellers are back out in force and have taken it down through the bottom of the range below $1280. It is imperative that the bulls take this market back above that level or the bears are going to target another $20 drop in the metal into the next region of support on the chart near $1260.

I am also viewing the ADX line ( dark purple) which is slowly flattening out and looks like it is trying to rise again. If it does, and this is not a done deal yet, it will signify the RESUMPTION of the EXISTING DOWNTREND. In other words, the -DMI has not crossed below the +DMI through this entire bounce higher indicating that the bears still regained control of the market, even though it had made a significant recovery off the spike low at $1180. The downtrend, as a result, had been interrupted but is very close to being resumed again.

If that occurs, you will see intensifying sell pressure on the metal as the specs pile on the short side. Meanwhile, the bullion banks will be more than likely moving onto the net long side of this market.

Just like it has been doing of late, the HUI, the mining shares, are simply sucking the life out of the metal's prospects. No one wants to be an aggressive buyer of gold when they can see the gold mining shares going nowhere but further down. To witness a 6% plunge in that index in one day is unnerving to all but the most deep-pocketed, long standing gold bulls. The gap area that had initially been serving as overhead resistance has now been completely closed from the top side moving down meaning it has failed to serve as chart support. That would indicate that the next gap on the chart, ( the red rectangle zone ) will more than likely be tested soon.


  1. good letter; steve in sparks

  2. As a long term bull, this correction/downtrend has been draining to say the least in every sense of the word...especially mentally. To make matters worse, when people come out calling bottoms, inspire excitement, then down it (gold & silver) goes again...sigh!

  3. As obnoxious as it is to read those that celebrate gold bull's pain here, we have to admit that the gold bull predictors have been woefully accurate. Never have I seen a group get it so right over ten years and then get nothing right. It scares one to see such a dry two year stretch. I think we have to consider something has changed, yet the other side makes less sense.

    As Dan says gold dropping in Asia is a serious concern.

  4. "If the market is losing sponsorship from this region of the world where physical demand is key..."
    Damn, I wouldn't have expected that either.

    Thanks a lot for all those updated.
    I added some of your indicators to my toolbox.
    Here is a link towards an interesting point of view about gold :

    I like Eric's blog as well because he seems to go very deep into intermarket interpretation, and uses a lot of indicators I don't, which seem quite reliable (such as juniors to majors gold miners ratio). Also because I like how he explains simply that, to anticipate a trend reversal, one may check if the market is polarized, concentrated, and then in addition start a technical trigger. I like this trilogy.
    Anyhow, as you can see, he also speaks about patience.
    Also, he underlines that the lows are whether met already, whether they will be met on the next move which will probably then be a capitulation. I tend to agree.

    I for now may be less active on this blog.
    I recently wanted to try to demonstrate that T.A was a very useful tool for trading décisions, even in "manipulated" market, if it was used with a sound money management.
    Using T.A and money management, you will be less nervous about gold's price or value. You will focus on its movements, because it is from volatility and trend that a trader makes his money, not from the price itself.
    Why should you care after all, if gold is Worth 500 or 5000 tomorrow? You should care about where it is heading afterwards, because that's what matters between losing or winning money.

    As a recap of my posts on this blog which you can find in the history of previous posts, I used T.A during last 4 months :
    - I sold some of my long positions at 1539 when we broke the mlh inf of the last pitchfork, still hoping that 1480 may hold.
    - I sold the remaining of my long position at 1469 ovn when 1480 broke.
    - Fibonacci retracements levels helped anticipate that 1490 would be a strong resistance on the way up.
    - the sale levels and a triangle formation helped anticipate that a break of 1355 area would be very dangerous for the last 1320 low and would probably generate more downward action.
    - I bought at 1200 because we reached a fibonacci retracement and I hoped to see a bounce, plus my risk reward ratio was very good at that time, because of a short term support under 1190. My target was a mere 1300, and I actually took half of my profits at 1250 when I saw that 1260 was acting as a resistance.
    - I sold the rest of my position at 1300, and I am out since 1348 acts as a resistance.

    So, TA helped me protect my long term position, and helped me make a small aggressive speculative move on the upwards correction, short-term.
    I'm not a good trader, but my simple system still allows me to make a little profit regularly, so that's all that matters, in addition to the fact that I just like trading and AT :)
    Most of my conclusions were exactly the same as Dan's, which comforted me in my decision making.
    Keep following Dan's advices, and you'll stay out of trouble.
    What more can one ask for?

    P.S : my AT is quite simple. I'm using a few ma, ema, channels, horizontal supports and résistances, basic japanese candlestick figures, same with TA, and some signals on indicators other than prices, such as volume, MACD, RSI. I was shown by Gilles Leclerc, another good trader, that an efficient figure to be watched is the 123 MACD. Watch the extension / propagation lines formed by joining the tops / bottoms of the MACD 9 19 6. If you see a double divergence with the prices, you have a signal to buy or sell if it is confirmed on the smaller time unit. It doesn't happen very often, but when it does, it has a very high success rate.

    Have a nice day all, and keep your spirits up for the long term :)

  5. “Small investors throughout China now find themselves stuck with depreciated gold assets as vendors tighten their purse strings, many of which are conducting trade-only deals. A woman surnamed Liu was shocked to discover that the gold beads she had purchased for 390 yuan ($63.61) a gram at a Hong Kong market back in April were now only worth 264 yuan a gram at Beijing's Caishikou Department Store on July 24, reported the People's Daily.” – ECNS News, August 6, 2013.

  6. you know, something occurred to me when listening to the 12 year bull mkt guys, and that is that we had about a 8 year bull mkt in the 70's, followed by 20 years of sideways, and now you never hear about the fact that we are now 3 years into either a cyclical or maybe secular bear mkt for the gold; and then, when we talk about bubbles, of course everyone is on the side of the bonds being in the biggest bubble of all time, right? sorry, but I do not want to get in bed with Gross and Buffett; that is all, steve in sparks

    1. It will be two years in Sept since gold corrected.

    2. Hubert Du Haut ( and kris);

      Hubert - glad to see that you will continue to contribute your fine posts. I know the readers genuinely enjoy reading your perspectives as do I.

      Yes, I have as much issue with those who consistently call for long term bottoms as I did with those who were constantly calling for tops some years ago just because we had a build in the hedge fund category on the long side every time the COT report came out, as if they had some esoteric knowledge that the rest of us mere mortals did not possess. All they did was to scare people out of their long gold positions based on nothing but an opinion. No technical chart reason was given. It was more like this: "The hedge funds are really net long this market in a big way so that means it has to crash". Meanwhile the hedge funds just kept getting long and getting longer all the while the market climbed higher. Like I said back then - no one knows how large a long position the hedge funds can build before the market finally tops - no one!

      As I stated in my reply to kris, calling for tops and bottoms serves no one any useful purpose, and I should add here - if it is not substantiated by SOLID TECHNICAL ANALYSIS. Also, anyone who makes a call in public should expect to be criticized for it in public if the call turns out to be wrong ( just don't call their character into question ). I have no problems with that as that is fair game. After all, if you are going to "boldly go where no man has gone before" and declare something unequivocally certain and sure, then you had best offer a chart reason for so doing. If you miss it, you miss it - fess up and say so.

      That is why I hold to my advice for many who keep doing this. STOP IT. It is also why I keep telling the readers - let the price action of the market only guide you. This is the response I offered to those who kept saying that gold was in backwardation and therefore had to rise. All of the sharpest traders on the planet can see the board and understand these things. If the market rises, it rise and confirms that this is an important development. If it does not rise, it means that the market is not concerned about it. The market has the final say so for traders. Period!

  7. I will miss your helpful posts Hubert.

    1. @concord : won't be gone, just less active and posting less detailed TA ;)

      On jsmineset :
      "US embassy closures used to bolster case for NSA surveillance programs."
      Welcome to the real world, Neo :)

      @Dan, true all what you said about participants at KWN. Nevertheless, why do we have to cope with this kind of sentence in nearly every and each written interviews?
      "All signs are that we’re at a major turning point for the metal right here."
      I mean, I understand that this kind of mantra statement may be a bit unnerving to some gold bugs by now.
      It's a bit like a last chart I saw recently, with comment that it was showing a "sort of misshapen heand & shoulder bottom pattern".
      I've been following many analysts as well, some very famous ones with subscription letters and all, and my feeling is that more often than not, they have a biais and use TA as a proof of what they wish to see.
      They sometimes don't seem to be objective, and it's not disrespectful to mention that.
      You are one of the only authors I know who keeps neutral and objective about the price variations, and that's a fact. No offense meant to other analysts here.

    2. This comment has been removed by the author.

    3. Well said, Hubert Du Haut!
      "I've been following many analysts as well, some very famous ones with subscription letters and all, and my feeling is that more often than not, they have a bias and use TA as a proof of what they wish to see.
      They sometimes don't seem to be objective, and it's not disrespectful to mention that.
      You are one of the only authors I know who keeps neutral and objective about the price variations, and that's a fact. No offense meant to other analysts here."
      Completely agree with you! Also, look forward to your comments as much as, Dan's so just wanted to say thanks! ;-D

    4. Hubert Du Haut and kris ( PART 2) continued:

      Also, I think it would be much more beneficial if those who were calling for bottoms would make certain that they let the readers know that they are not traders and not offering market timing advice but are rather writing to long term oriented investors who are long term bullish gold and acquiring the physical metal.

      There is a world of difference between buying gold bullion without any leverage and rushing into the futures market ( or the miners for that reason or GLD ) and taking a LEVERAGED POSITION where a drop of $40 - $60 can easily take out most small undercapitalized would-be gold traders.

      If I buy a gold coin, let's say at $1300 and the price drops to $1260 or even $1200 for that matter, okay, I am out $100. I can live with that even though I would obviously wished I had waited. But I can always then buy another gold coin ( or two or three or ten or whatever) and get it cheaper.

      On the other hand, if that is something I did with a futures contract, I would more than likely have seen my hoped-for future as a professional trader go up in smoke if I was just blindly following someone's call.

      In other words, if gold drops down into the cost of production area price wise, and I am a long term bull, the downside risk for a PHYSICAL METAL buyer with a long term horizon are limited. Now, it may not go higher for a while but if I have concerns about the stability of the monetary system, that will not concern me other than the fact that I will lose out on other opportunities that I might have to put my money to work for me. However, those buying gold are buying it as insurance and can generally live with that.

      It is when people get these things mixed up that they get into trouble. If you are buying gold because you are looking for a QUICK PROFIT on a big move higher, then you are no longer buying it for insurance but have become, whether you want to realize it or not, a speculator.

  8. Right now it is War. Bullion Banks such as GS, JPM are fighting with the Fed to keep the $ Hegemony. They do not care whether Bullion Banks, Mining Companies, or whomever survive. It is about their survival. The system. I view this like the Matrix now. I also happen to believe that the US has lost this war and the worldwide GS bankers are here to control and manipulate both sentiment as well manipulate currencies, commodities to suck the wealth out of all markets. You might now believe people like Ann Barnhardt even but she has it correct as well. Nothing matters to these people but their position in life. To them stock price means confidence regardless of real value. Gold is a competing currency and can be utilized by China, Russia. They do not want Americans to understand how badly the country is falling due to our loss of manufacturing and value of our currency visa vie World markets. It also means they will attempt to undermine the Chinese peoples attachment to Gold, India's Peoples attachment to Gold. It helps them maintain control. So the ride will get even rougher as I thought that they would not attempt to manipulate this badly. I believe Jim S. will still be correct in the long run. I want to see how the physical metal ends up on the Comex by month end. US regualatory agencies are doing nothing to investigate all the Banking Shenanigans. They cannot without exposing the Derivatives and Mark to Market shenanigans and destroying the value on the Bank Balance Sheets which would then destroy confidence and wipe out the US domination of the FED, including the Bullion Bankers. We will see what happens here, but I am in the belief the Bullion Banks do not have the metal inventories and will not allow an audit. It is the REAL PAPER TIGER. Deceitt abounds. If you hold physical metal you will win in the end. Mining shares may or may not win, depending on what companies, because the Bankers will own them on the equity side or they will simply shut, or sell for less than the NAV compared to the paper price. I am glad I reduced holdings in them to a tolerable amount. I do not think they can drive the HUI to a 50% of todays value regardless and if that is the case, I still have most holdings in cash and MM. What I fear is the Banks will attempt to steal MM and Cash down the road. So cash outside the system and next to my Kimber 1911 is safer than in the Bank.

  9. These people just do not care about anything or anyone and even Nations of people as long as they are in control and hold the REAL MONEY whatever that is after the currency exchange system comes out of the other side. It is really that simple. I am not fearful as I have cash outside the system. I do still have a small bet on some domestic, Canadian Miners in a Mutual fund. That may just disappear if the Broker disappears. Oppenheimer and just recently I understood this more when the SEC fined them. What will they do if they cannot keep paying those fines? Raid Customer accounts? Who the heck knows about the very system anymore, but again we are all converting in dollars, which are devalued and hard assets we eat, we store, we burn in our cars. That is the point of what JIM is talking about and Dan understands well.

  10. The Matrix game continues. How low can the paper price go. Lets all do the Limbo.

  11. First Post. Bullion Banks are not fighting against the FED they are working in conjunction with the FED, and the US govt, Treasury, SEC, CFTC, etc. They are all in it for Control!!! Sorry if that was confusing. Like the comedian in the 70's and 80's said George Carlin, It is a club and WE ARE NOT IN IT. They do not give a rats ass about anyone but the club members.

  12. White Wolf,
    I agree with you.
    We are in my opinion at the point of no return. America is done. How long it will take for this story to be over? No idea. I once thought that the American people would react to all the BS...But I guess I was wrong. When a people can only see life through their TV screens you know they are already dead. The Obama administration, with his incoherent foreign AND domestic policies is incapable of changing the future!

    Dan, how do you explain the fact that the market is lower because of the "tapering" noise while both the USD and the 10Y are down? Does it make sense? Should we not see them UP?

    Thank you again for the time you spend on your blog.

    1. Hubert,
      I just saw something from Art Cashin saying that some issues going forward with Abenomimcs(Nikkei down over 4%) and the Bank of Japan are driving the dollar down. He mentioned that other than that the tapering talk would normally be pushing the dollar up.

      Gold seems just slightly effected.

    2. More Baffling Data and covert displays.. Hubert..

  13. Wow, commodity indexes of every stripe keep collapsing to new 52-week lows.

    Yes, stocks are at record highs which benefit the top 1%.

    If Bernanke/Yellen fail to increase stimulus from $85 billion a month to $185 billion a month in order to improve job growth and small business loan growth...

    Given the deflationary backdrop.....

    In order to help the little guy,...

    They should be both fired for gross incompetence and dereliction of duty.

    Despite the fact that the top 1% crowd continues to laud Bernanke as the "Greatest Central Banker" of all time.

  14. I know I am a bit of a "conspiracy theorist". Here is my latest. My ability to make income has been greatly hampered in the last 5 years. I have found it very difficult to go along for the ride on the stock market due to my negative bias on growth, earnings, manipulation, QE, and yet, today, of all days I think I have found a way back in, and it will be to do battle with the Banks!!! I am going to work my butt off to take from them everything I can in a fair full fight.
    Then after hearing I may be able to get in I read Jesse, whom I may have some difference, I have a very strong and basic similarity. That is a belief in something much bigger than myself. His humility towards many things has always amazed me. Another strong similarity must be our taste in music. These combined factors have given me some HOPE. I have faith, but it has been somewhat eroded over the last 5 years. Anyhow, I really do enjoy this site. I think Dan is one of the best down to earth people on the net. I also enjoy Jessee, and Jim. Guys, I am feeling something. No, I am not going long big and risking any more of my hard earned money. But there is this feeling that it will be soon. Hubert, Dan, Jim, Jessee, Dave, you guys are truly the best. Without this site I may have lost everything and as Dan has noted several times, not had a pot to pee in. I have sometimes done the wrong thing and lash out. It is difficult these days. Jessee if you read comments, two other people I used to listen to a lot were Jessee Colin Young and Jackson Browne. But the songs Jessee has on his site somehow reminded me that I need music for my soul as well.

    1. White Wolf;
      Jesse is a class act.

    2. White Wolf,
      " I am going to work my butt off to take from them everything I can in a FAIR full fight.".

      I say BRAVO but after analysing this world around us for years, I would say that in today's society the survivors will be the streetwise guys. Fairness is not "au gout du jour". What is now missing, in order to change the rules imposed on us by a gang of thieves, is an understanding by the zombies that the worse is yet to come and the only way to get out of this tragedy is by acting ALL together.

      You want "to take from them everything you can?" Ask your friends to stop paying the credit cards, the mortgages, all the loans.... Then the fight becomes "fair" and the banks/elite... will stop acting as gods. NO violence necessary, just the wisdom to understand what is needed and ACT on it.

      Dan, I hope this comment is acceptable to you. IF NOT remove it and I will understand.

    3. What I was referring to was not "violence". Fairness in the small business loan category. The Banks rely on their "all knowing" statement analysis, ratio analysis, cash flow, leverage, character, conditions, capacity, and/as well as wrapping up lessee's or debtors with undue covenants which can actually kill a growing company. If any of these covenants are violated, they charge large fees, pull loan lines, start foreclosure procedures, etc. which will then sometimes start at creditor run and potentially put an end to a business when in reality there is no reason to start the run. Independent Finance companies certainly look at the same data, but will rely on collateral more intensely. Instead of sealing off the life blood of company and managing their business they let the companys manage their business and lend against all the C's but may structure deals differently. They will certainly foreclose on the collateral but they do not tie up all the assets including needed working capital. It is a much safer alternative for company's who are in this type of environment. Survival is the largest word in the English Dictionary. Sorry if I was insinuating a real physical fight. That will only occur when the constitution is completely destroyed. As far as your other suggestions, I am working on a lot of them as well. Start with Family, friends!!!!

    4. Just to be clear: I never thought you were insinuating a real physical fight. I just wanted to make sure Dan do not think I am advocating violence on his blog. IF I were I would have started my own website.

      As for Family/friends, I am working hard educating them and I sometimes I get a "Mona Lisa" kind of smile from some of them...But at least they have been warned...

    5. Dan,
      No question Jessee is a CLASS ACT!!! He prints without fees, takes a position and stands behind it. Very rare. He also is unafraid to show and speak of faith!! Even more rare in the secular driven world today. I probably should have stated my differences were minimal to my shared similarities. That would have been much more correct.

  15. just a word to the wise in case you all are getting these 60 year cycle predictions calling for commods in general to bottom between now and Oct, and that the only thing no good is the $ and the bonds, but what do I know because the Yen rally from last Friday has cut me up pretty good; that is all, steve in sparks

    1. Steve;

      The Yen rally is definitely odd to say the least... looks to me like Plosser got some folks spooked and introduced a bunch of confusion into the Fed Taper mix. That had the bonds, the currencies and the equities all making some strange moves. Lot of short covering in the Yen as that trade has been pretty crowded and it looks as if the move to the sidelines by some bigger funds tripped the technical levels and the algorithms into buying. That is the only thing I can figure.

  16. for the life of me, I daily look at the Baltic Dry Index charts and am fascinated at the ongoing 5 year disconnect we are seeing; platinum and oil topped 5 years ago, and copper, silver and gold 3 years ago, give or take a few months here and there; take care and that is all; steve in sparks

    1. Dan; Yes you probably have as good an explanation as anybody on these currencies, as the action has shifted there and away from pm; I see them at 1.06, 7 and 1.10 as it is all pretty obvious at this point how they blow every chart point out on big days and so forth, but since everyone is now a chartist, I just have to believe that fundamentalist thinking will win out in the long run, and that Bass is right; I stay bearish and re-sell on proper signals ; take care, steve in sparks

    2. Steve,
      I have watched the oil chart for the last 5 years myself and it is just oscillating. A fund I had availability to invest in I have been in and out. It is a very strange phenomenon. The fund has oscillated between $2.95 and $3.40 per share. I know that is a decent spread if you can time it, but like I believe they will not allow very much spec anymore and make it very difficult if impossible. Between the media, inventory releases damn near impossible. I know that JPM and GS with their control of the trucking and warehousing portion on aluminum you know they have been pushing that market in their favor for sometime. Just makes me wonder what the heck they are attempting to do with the Comex and Gold. Good Luck and I hope you guys eventually rid yourselves of Reid.

  17. Steve just fyi gold topped less than two years ago.

  18. Concord; I know that; Labor Day begins the third year; steve in sparks

  19. Steve,
    23 months is not three years to me. Whatever works for you though.

    1. This comment has been removed by the author.

    2. I've seen how that works. Some people develop the habit of denigrating others for what they consider to be embellishments, exaggerations and even outright lies, however the same rules never apply to them.

  20. Then after hearing I may be able to get in I read Jesse, whom I may have some difference, I have a very strong and basic similarity. That is a belief in something much bigger than myself. His humility towards many things has always amazed meCheap LOL Boost
    elo boosting service

    1. Wow9,
      You have people in and people out.
      YOU are definitely out!

  21. Hi all,

    Thanks for all your answers.
    I'm not enough of a specialist to have a "gut feel" about what's going to happen within the next 2-3 years.
    But I'm trying to connect the dots between the people I know who are more knowledgeable about this than I am.

    I think most of those people are agreeing more or less about the following :

    - to look for a quick profit in gold now, with a kind of "V" bottom (based on backwardation, Armageddon tomorrow, COT reports, Comex stock inventory depleting...) may prove very frustrating.
    - Confidence in the monetary system is key. Everything can settle in cash until confidence cracks.
    - The problem is that it is impossible to predict when the crack will happen. But it may happen only in 2014. Or 2015. Or 2016.

    Once more : gold is for protection against the worst, i.e a sudden loss of confidence in fiat currency. Impatient gold bugs are likely going to eat their hat in between if they hope every day for the beginning of the bounce, "the last exponential / parabolic upwards phase of the bull rallye", etc... It may happen. But it may not happen before 2015, if that. Long-term investment is...long-term :) a tautology to remember that patience is the key.

  22. China's late night stick save. Copper imports explode!!!
    I am now awaiting on wisdom from Dan on the copper story. Another doozy. It is getting real deep around the world and am taking a very long position in Wheel Barrows!! We might need them when reality sinks back in after the liquidity spicket continues. Silver Skyrockets. Gold along for the ride. China gold imports also jumped.
    Very interesting indeed. Very little reality all game.

  23. Hubert du Haut,
    Yes long term is...long term. However what has been going on for many years now is the fall of the almighty dollar and the reborn of both China and Russia. So what was "long term" a few years ago could be near (next 2/3 years) or short (6 to 12 months)term today.

    The USA is losing a lot of its worldwide connection. More and more countries are openly defying its authority. This leads to weakness in both the economic and monetary fronts. This is where, in my opinion, the fall will come from.

    So I agree with you "patience is the key" but for many stakeholders the patience is getting thin and the breakthrough could come any time soon.

    1. Hubert,
      I replied to your suggestions in your above statement. I wanted to clarify Fight.

  24. So, they are making the copper look like a successful 22 month double bottom and the next objective is 3.40; amazing; steve in sparks

  25. Hot off the Press..Tesla..from Market Watch this morning.

    "The company posted an adjusted profit of 20 cents a share for the second quarter and revenue that surged to $405.1 million from $26.7 million." Barbara Kollmeyer

    I would really like to see these financials. I mean that is one heck of a jump in profit. I am not living in California or the Western Portion of the US. Do you guys see this many Tesla's out there to command this type of profit jump???

  26. Tesla and Groupon are up 400% in 6 months.

    I've never seen a stock market with so much wealth building capability, as long as you avoided mining, metals, and coal stocks.

    1. I am still wondering Mark, it is still based on Hopium at this point. I mean manufacturing sales are recognized at shipment to dealer. Again, how many units are sold and will their be enough charging stations to supply them to be able to utilize them as a day in day out driver. Also, their current avg sales price is $65K to $100K, I am sure not buying one and I would say average Joe Sixpack is not either. They stipulate that they will be able to produce a model at $35K in the near future. Just like rates will not rise, GDP will skyrocket, and the unemployment rate is going lower. NOT!!! Also, they are being produced in none other than the NETHERLANDS. Another great American Labor boosting product.

    2. Mark you cherry pick the best performing stocks. Do you own them? What is the point if you don't actually own them.

  27. Looks like we not have LIFTOFF!!! Gold and silver shooting.

    Concorde I hope you are still hanging on the rocket. Maybe, just maybe you will get a ride back to your original position. I am really rooting for you.

    The Fed put in one graph..

    1. Thank you White Wolf. I would love that. It is the miners that I have too much of.

  28. Wait,,
    Just announced GDP skyrockets on "revised" backdated method approved by the FED. The method indicates that all the money spent on writing economic forecasts by main street media forecasters will be included in the new and improved GDP method. We considered this after consulting with Paul Krugman who demonstrated that the main street media has been lauded with super forecasting skills not found in solid analytical data. Stay tuned we may have to further revise GDP upwards with additional increases in order to baffle conservative analysts. This need may arise due to China's continued "hoarding" of assets they may need after they tear down newly built low cost labor skyscrapers. We also have learned that GS and JPM have now invested in a fleet of warehouses and trucks that will drive around commodities and move inventory to locations unknown in order to disguise inventories and confuse the most astute analysts. This way they can drive markets up and down in their favor, thus stealing individual investors hard earned money. Stay tuned for more hot off the press updates.

  29. the 30 year is where it is; steve in sparks

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