tag:blogger.com,1999:blog-1708908742323002823.post4649190587788758140..comments2024-02-10T02:18:27.240-08:00Comments on Trader Dan's Market Views: Weekly Gold Chart and CommentsTrader Danhttp://www.blogger.com/profile/05484363461047659198noreply@blogger.comBlogger37125tag:blogger.com,1999:blog-1708908742323002823.post-29885446077222591472014-01-27T06:43:30.145-08:002014-01-27T06:43:30.145-08:00GLD and GDX imploding again as the Turkish Lira ro...GLD and GDX imploding again as the Turkish Lira rockets out of the hole as their central bank intervenes.<br /><br />Last night, Japanese 20-yr. bond yields crashed to 1.44%, as investors pile into paper come hell or high water during a crisis, regardless of 200% debt/gdp and largest trade deficit in world history.<br /><br />Nobody wants gold, because today each crisis is dealt with instantaneously by TPTB and the TBTF banks.<br /><br />Stay in the SystemMarkhttps://www.blogger.com/profile/13068811838777958318noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-69036902575215116692014-01-26T17:43:57.899-08:002014-01-26T17:43:57.899-08:00Thanks for the explanation, William.Thanks for the explanation, William.Abraxashttps://www.blogger.com/profile/17197404330070459811noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-4520886284685218972014-01-26T17:11:32.006-08:002014-01-26T17:11:32.006-08:00Dan; 2 items that you may want to convey to your r...Dan; 2 items that you may want to convey to your readers and they are, that the gold mkt is a tiny, tiny, tiny mkt compared to the debt mkts of the world, and secondly, what are they seeing when they are looking at the $? The only fiat currencies out there that have a short term shot at going higher vs. the $ are the Cable and the Euro, and if they ever did their homework they would see that Cable is now in about a 85 year bear mkt, and as far as the Euro goes, before it is all said and done, it will cease existing; I just do not know how they will roll it out or in or upside down, or whatever, but it is truly an experiment on its last legs, and that is all from sparksAnonymoushttps://www.blogger.com/profile/15820220635483947518noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-32647295183234417722014-01-26T16:43:02.561-08:002014-01-26T16:43:02.561-08:004 million oz coming on the offer any second now …....4 million oz coming on the offer any second now …. LOLAnonhttps://www.blogger.com/profile/01595034035769200702noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-20207476309465502452014-01-26T16:29:25.467-08:002014-01-26T16:29:25.467-08:00This comment has been removed by the author.The Prophet Elijahhttps://www.blogger.com/profile/04786387211895954719noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-41558478642503376762014-01-26T16:04:39.888-08:002014-01-26T16:04:39.888-08:00BTW, for all of you that state gold bugs to not cl...BTW, for all of you that state gold bugs to not claim manipulation when gold is going up:<br /><br />Jim Sinclair has repeatedly said it is manipulated up as well. He tends to be the object of most critics so I do want to point that out that he recognizes manipulation in both directions. And I would bet anything that he is right on that depending on the day or hour. Right now, I firmly believe the central banks, due to the fact they have never been in the current situation, do not know which way to manipulate in their best interest!!! Uncertainty will be ruling the near future. Natehttps://www.blogger.com/profile/02186209542645350484noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-62601850667666761662014-01-26T16:04:00.754-08:002014-01-26T16:04:00.754-08:00Mr Rickards, on his Twitter feed a while back, was...Mr Rickards, on his Twitter feed a while back, was asked by a follower why he was no longer appearing on KWN. Rickards was rather oblique, but indicated that he was available any time Eric King wanted to interview him. I assumed that Rickards somehow and some way had gotten under Mr King's collar.Williamhttps://www.blogger.com/profile/16524145768489319681noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-36218826437049969542014-01-26T15:03:59.296-08:002014-01-26T15:03:59.296-08:00"Only send $4.95 for shipping and handling!&q..."Only send $4.95 for shipping and handling!"<br /><br />For your readers in germany? I'll pay 10€ for shipping:-) of course<br /><br />Thanks Dan for your work<br /><br />Dakac<br />Anonymoushttps://www.blogger.com/profile/02534762828073841181noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-35576090098582763152014-01-26T11:17:57.356-08:002014-01-26T11:17:57.356-08:00Yes Mark.
With 20/20 hindsight I too know what I...Yes Mark. <br />With 20/20 hindsight I too know what I should have done. Your getting a little repetitive. Try finding another slant on the problem as many are ignoring you now. Mike Ehlerthttps://www.blogger.com/profile/03796788820435662856noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-32999064238455497732014-01-26T10:37:39.576-08:002014-01-26T10:37:39.576-08:00This comment has been removed by the author.Anonymoushttps://www.blogger.com/profile/00335835171576180359noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-74290067621051342512014-01-26T10:19:36.663-08:002014-01-26T10:19:36.663-08:00William,
Could you please elaborate on the treatm...William,<br /><br />Could you please elaborate on the treatment to Rickards? I was curious why he hasn't appeared there in a long time.Abraxashttps://www.blogger.com/profile/17197404330070459811noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-7441447617676244732014-01-26T10:15:29.676-08:002014-01-26T10:15:29.676-08:00SRV ES339;
Thanks for the comments.
I do not do...SRV ES339;<br /><br />Thanks for the comments. <br /><br />I do not doubt that there is some entity/entities trying to knock down the gold price at times during the recent year. What I dispute is the contention, either implied or outrightly stated that it is the bullion banks doing so at the behest of the feds.<br /><br />There is no reason to manipulate the gold price in the current environment in my view because two of the five main pillars necessary for gold to be in a bull market are not present, namely a sinking US Dollar and an overall rising trend in commodity prices.<br /><br />The DOllar has been firm and commodity prices have been moving lower, some making multi-year lows as a matter of fact. In that environment, gold lacks a catalyst to mount a SUSTAINED move higher.<br /><br />Hedge funds love to take advantage of low liquidity trading conditions to push markets around in the direction that they want it to move. There is nothing illegal about what they do; the problem is for us traders that it forces us to react.<br /><br />HEre is a major problem with the vast majority of people who tell us that every single sharp move lower in gold, whether it comes during thin trading conditions or not, is caused by the evil gold price manipulation forces - they simply do not trade other markets for a living and thus do not understand that this sort of thing HAPPENS ALL THE TIME in other markets.<br /><br />Not that I would relish the idea of making more work for myself than I already have, but I could easily produce charts of wheat, soybeans, hogs, etc that have exactly the same sort of either sharp drops lower or big ramps higher, during thin Asian session trading conditions.<br /><br />My take on the manipulation is very simple - the feds do not need to fight a FALLING GOLD PRICE. They view gold as competition to the US Dollar and thus, when the US Dollar was in a major bear market and commodities were soaring to the stratosphere, they were greatly concerned about what a sharply rising gold price would be signaling, namely a loss of confidence in the currency and a real fear of inflationary pressures as a result. During that time is when gold was being restrained on the upside by large bullion bank selling. <br /><br />The last two years it has been falling of its own weight as it is an environment, in the minds of most investors, in which inflation is non-existent. Since gold throws of ZERO yield, all gains must come from appreciation in price for investors who want to own it. When stocks are soaring and making 20+% returns on investment, who needs gold?<br /><br />Gold's day will come again as sentiment shifts. That is what we are trying to read here.Trader Danhttps://www.blogger.com/profile/05484363461047659198noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-47498876642394989342014-01-26T10:05:40.277-08:002014-01-26T10:05:40.277-08:00rlm;
I use 14 days but will tweak it at times to ...rlm;<br /><br />I use 14 days but will tweak it at times to see if I can optimize it a bit.<br /><br />Trader Danhttps://www.blogger.com/profile/05484363461047659198noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-71033365316427849722014-01-26T10:04:37.446-08:002014-01-26T10:04:37.446-08:00Jesse;
Yes, not much movement among traders up th...Jesse;<br /><br />Yes, not much movement among traders up through Tuesday of the past week although the COT did not catch the last three days. My guess is that there is indeed some fresh buying on the part of hedge funds but that buying is outnumbered by larger amounts of short covering from that same category.<br /><br />We'll get another peek next Friday.<br /><br />Thanks...Trader Danhttps://www.blogger.com/profile/05484363461047659198noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-25630247756995328982014-01-26T10:01:03.527-08:002014-01-26T10:01:03.527-08:00Dan,
Missed the "flash crash" debate an...Dan,<br /><br />Missed the "flash crash" debate and just reviewed some of your thoughts on it, and the general issues regarding manipulation.<br /><br />Apologies if you've covered this simple point before, but how do you explain the obvious daily patterns, and more importantly the regular waterfall like drops from wiping out the bid stack at times of low volume... resulting in max negative price affect?<br /><br />Note: My opinion is both sides are right... the banks do manipulate (my take on the above question), but the technicals play a huge role in market pricing (traders and bots... and the more in depth issues you presented ). SRV ES339https://www.blogger.com/profile/17955738173581128887noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-39840459969382059972014-01-26T09:33:16.770-08:002014-01-26T09:33:16.770-08:00@Mark
I hear the TBTF banks are taking requests f...@Mark<br /><br />I hear the TBTF banks are taking requests for custom "shearing patterns" on a FCFS basis at "askjamie.com"... but hurry, as it's a limited time offer.<br /><br />ur welcomeSRV ES339https://www.blogger.com/profile/17955738173581128887noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-4171786603404965622014-01-26T09:17:46.283-08:002014-01-26T09:17:46.283-08:00I hope that Dan doesn't get the Jim Rickards t...I hope that Dan doesn't get the Jim Rickards treatment from KWN. If so, Dan could easily find his own internet venue. Truth is not easily suppressed in this age of the Internet.Williamhttps://www.blogger.com/profile/16524145768489319681noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-19656836515515393432014-01-26T09:13:04.653-08:002014-01-26T09:13:04.653-08:00The usual suspects on KWN now predicting another h...The usual suspects on KWN now predicting another huge collapse, crash, etc. in 2014 and telling people to get out of the system.<br /><br />Except there's one thing.....<br /><br />The "Terrifying Collapse" has already happened.<br /><br />In the gold and silver mining sector.<br /><br />Anyone who got out of the system and went into gold lost huge last year.<br /><br />And those who stayed in the system, fully invested in the S & P 500, junk bonds, and muni-bonds are still way, way, way ahead of this time last year, even if we have a 15% correction this month in equities.Markhttps://www.blogger.com/profile/13068811838777958318noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-50550852089754136062014-01-26T07:50:29.601-08:002014-01-26T07:50:29.601-08:00So what you are suggesting is that there is more (...So what you are suggesting is that there is more ( short) fuel left in the tank to power this rocket up some more ? like may be to 1300 ?WolfWisdomhttps://www.blogger.com/profile/01035527970541910596noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-7725134778889149902014-01-26T02:04:28.090-08:002014-01-26T02:04:28.090-08:00Dan what time period are you using on the ADX, Tha...Dan what time period are you using on the ADX, Thanksrlmhttps://www.blogger.com/profile/12918742376497409998noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-78208816165850384202014-01-25T21:49:32.853-08:002014-01-25T21:49:32.853-08:00Too bad for kwn readers if you are not accessible ...Too bad for kwn readers if you are not accessible from there anymore, one way or another. I hope they'll keep interviewing you on a different format, at least.Anonymoushttps://www.blogger.com/profile/00335835171576180359noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-28018527220440773502014-01-25T20:02:46.903-08:002014-01-25T20:02:46.903-08:00Dan,
The COT report on Friday showed a measly red...Dan,<br /><br />The COT report on Friday showed a measly reduction in shorts by the large specs, and barely any gold longs added. So basically we are just seeing spurts of short covering again.<br /><br />Anonymoushttps://www.blogger.com/profile/11666493857513151534noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-75934225061632923992014-01-25T17:18:25.237-08:002014-01-25T17:18:25.237-08:00>>>Let the longer term charts guide your ...>>>Let the longer term charts guide your "big picture" view when you trade. If you are nimble and can move into and out of the market quickly, you can trade on much shorter time frame intervals.<<<<br /><br />Yeah, like Friday, flat, short, long. Not making a bunch of money but it's good practice to try to stay "in phase".<br />And I got your message, small bites.<br /><br />Thanks, Steins<br /><br /><br /> Steinshttps://www.blogger.com/profile/00942479731737741804noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-52385462456395967682014-01-25T15:47:33.672-08:002014-01-25T15:47:33.672-08:00I was just about to ask the same question! I list...I was just about to ask the same question! I listened every week, because what you said made sense (and $). I figured that you strayed too far from the up up up crowd. Thanks for being intellectually honest.Jackhttps://www.blogger.com/profile/07652840702889806910noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-671810809283138142014-01-25T14:08:49.002-08:002014-01-25T14:08:49.002-08:00Sounds like I've got myself a bargain!!! Can y...Sounds like I've got myself a bargain!!! Can you throw in a trading meditation yoga mat? The money's in the mail :-)Abraxashttps://www.blogger.com/profile/17197404330070459811noreply@blogger.com