Mark - Not sure how gold correcting/crashing + miner to gold ratio plunging (which is what we would expect as the bear market continues) occludes bail-ins, govt. confiscation of private assets, etc.
Bitcoin still way, way, way up from $100 lows earlier this year.
Miners still decimated and going lower and gold still down huge in 2013.
Meanwhile, U.S. "stawks" still surging on bad news coming out every day, when in reality the economy is slowly recovering and we are entering a boom of unprecedented proportions which could last for years.
Funny how the market always takes off after the gloom and doomers like Faber, Jimmy Rogers, Stockman, et al proclaim some type of crash right around the corner.
The Big IF ! Iam entitled to a IF too.... If only Gold can go above 1262 and stay there a couple of days then we would have had a beatiful successful test of the July lows !! ( Ofcourse this then has to be confirmed with a new high over the high reached in 3Q )
Looks like gold is fighting hard like I assumed. No taper Wednesday, a pop, followed by a steady decline then a sharp swoon down into January for a final low. Just my humble prophecy (JMHP)
Looks like you are a follower of Prophet Edelson ( the big Jan swoon !); u could be right--IF..yes another IF...in next couple of months we break below 1180 then we could definitely go all the way down to low 1000's.
Re: QE Taper...I cannot imagine Uncle Ben ending his reign by starting to TAPER before Christmas and risking a crash ( then again may be he does not celebrate Christmas). Passing the bag ( stocking with COAL ?) to Aunt Yellen seems to be what is in store.
Edelson's forcasts are very similar to Armstrong's. I am braced for the final, capitulating, projectile vomiting, gut wrenching, sphincter contracting, falling to you knees and tearing your clothes big kahuna drop in price that everyone...and I mean everyone is predicting. But then again...there is always the possibility that we have seen the bottom. Stranger things have happened.
All I can say is that I have started to average into FSAGX ( in my 401K and into stocks like SA, IAG, KGC, HL and FSM. I am not smart enough, like some on this board, to pick tops and bottoms. As a famous wealthy investor once advised ( and I cannot remember his name) : let others get the top 20% and bottom 20% of each move- all I care about is the middle 60%.
Wow stock futures ramping huge again and GDX/GLD ratio is plunging to new lows again.
ReplyDeleteWhat else is new??
Stay in the system.
Mark - Not sure how gold correcting/crashing + miner to gold ratio plunging (which is what we would expect as the bear market continues) occludes bail-ins, govt. confiscation of private assets, etc.
DeleteWow wow wow - look at Bitcoin crashing, now down to the 800's from 1200.
ReplyDeleteBubble is popped and next stop will be $500. Look out down below.
Bitcoin still way, way, way up from $100 lows earlier this year.
ReplyDeleteMiners still decimated and going lower and gold still down huge in 2013.
Meanwhile, U.S. "stawks" still surging on bad news coming out every day, when in reality the economy is slowly recovering and we are entering a boom of unprecedented proportions which could last for years.
Funny how the market always takes off after the gloom and doomers like Faber, Jimmy Rogers, Stockman, et al proclaim some type of crash right around the corner.
The Big IF !
ReplyDeleteIam entitled to a IF too....
If only Gold can go above 1262 and stay there a couple of days then we would have had a beatiful successful test of the July lows !! ( Ofcourse this then has to be confirmed with a new high over the high reached in 3Q )
Looks like gold is fighting hard like I assumed. No taper Wednesday, a pop, followed by a steady decline then a sharp swoon down into January for a final low. Just my humble prophecy (JMHP)
ReplyDeleteLooks like you are a follower of Prophet Edelson ( the big Jan swoon !); u could be right--IF..yes another IF...in next couple of months we break below 1180 then we could definitely go all the way down to low 1000's.
DeleteRe: QE Taper...I cannot imagine Uncle Ben ending his reign by starting to TAPER before Christmas and risking a crash ( then again may be he does not celebrate Christmas). Passing the bag ( stocking with COAL ?) to Aunt Yellen seems to be what is in store.
Wolfwisdom
DeleteEdelson's forcasts are very similar to Armstrong's.
I am braced for the final, capitulating, projectile vomiting, gut wrenching, sphincter contracting, falling to you knees and tearing your clothes big kahuna drop in price that everyone...and I mean everyone is predicting.
But then again...there is always the possibility that we have seen the bottom.
Stranger things have happened.
All I can say is that I have started to average into FSAGX ( in my 401K and into stocks like SA, IAG, KGC, HL and FSM. I am not smart enough, like some on this board, to pick tops and bottoms. As a famous wealthy investor once advised ( and I cannot remember his name) : let others get the top 20% and bottom 20% of each move- all I care about is the middle 60%.
DeleteHello,
ReplyDeleteNo short on gold on my side. It's too neutral, major support area just under our feet. I'm still flat and waiting...zzzz....
http://www.kitcometals.com/
ReplyDeletehttp://www.kitco.com/charts/livesilver.html
It seems that the days that Ag is up markedly (2 1/2%), Copper goes along for the ride - but not as much.
They are tracking together ... sort of.
Gold Silver Ratio also contracting markedly.