tag:blogger.com,1999:blog-1708908742323002823.post7674054434650646773..comments2024-02-10T02:18:27.240-08:00Comments on Trader Dan's Market Views: Gold Snowballing LowerTrader Danhttp://www.blogger.com/profile/05484363461047659198noreply@blogger.comBlogger30125tag:blogger.com,1999:blog-1708908742323002823.post-1287467627436053582013-06-28T11:23:42.558-07:002013-06-28T11:23:42.558-07:00Be careful everyone..we have all seen these one da...Be careful everyone..we have all seen these one day rallies before.<br /><br />Listen to what Dan saysAnonymoushttps://www.blogger.com/profile/12484142363488637120noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-20314108247280104032013-06-28T11:14:29.434-07:002013-06-28T11:14:29.434-07:00It's another trap. They did the same thing at ...It's another trap. They did the same thing at 1410. Set a nice little trap. Some shorts in London covered before the weekend. Don't bite. willydoghttps://www.blogger.com/profile/16716849781430555079noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-16109683769856639412013-06-28T10:36:47.967-07:002013-06-28T10:36:47.967-07:00With Corzine ready to go into cuffs, maybe JPM and...With Corzine ready to go into cuffs, maybe JPM and Blythe Masters will be next. That sure would start the fire if they default can the CFTC could actually do something other than allow citizens to get raped by these people. MF Global Crime Scene, next crime scene...COMEXWhite Wolfhttps://www.blogger.com/profile/13965194184809848345noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-78750381228626997452013-06-28T10:35:10.622-07:002013-06-28T10:35:10.622-07:00Might just rally the 32%, up quite a bit today. Le...Might just rally the 32%, up quite a bit today. Lets see how it unfolds Mark.White Wolfhttps://www.blogger.com/profile/13965194184809848345noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-49010092303942646162013-06-28T10:33:40.479-07:002013-06-28T10:33:40.479-07:00Looks like it is indeed FACT not FICTIONLooks like it is indeed FACT not FICTIONWhite Wolfhttps://www.blogger.com/profile/13965194184809848345noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-85417458868283333252013-06-28T10:32:24.844-07:002013-06-28T10:32:24.844-07:00My mining stocks up 8.5% today. Looks like Sincla...My mining stocks up 8.5% today. Looks like Sinclair, Dave in Denver, and the rest just could be CORRECT!!!!!!!!!!!!1White Wolfhttps://www.blogger.com/profile/13965194184809848345noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-17111946450792281362013-06-28T09:52:15.083-07:002013-06-28T09:52:15.083-07:00whoops..I mean soul!!whoops..I mean soul!!Anonymoushttps://www.blogger.com/profile/12484142363488637120noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-67793012420973635252013-06-28T09:48:33.787-07:002013-06-28T09:48:33.787-07:00Another thing to keep in mind everyone and I belie...Another thing to keep in mind everyone and I believe this to be true.<br /><br />For years it has been standard practise on Wall Street to seek out and hire Sociopaths. <br />These same entities have control of the US government and the military that goes with it.<br /> As Jim Sinclair has stated "they would put their Mother in a microwave if they could make a profit doing it"<br /><br />Make fun of the Hoss Cartwright ten gallon tin foil hat that I wear but I really do fear how this will all end.Anonymoushttps://www.blogger.com/profile/12484142363488637120noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-9696842220312987692013-06-28T09:28:09.580-07:002013-06-28T09:28:09.580-07:00I agree Mark
Bernanke once famously said that he ...I agree Mark<br /><br />Bernanke once famously said that he has a printing press and he intends to use it.<br />We are witnessing the unlimited power of having that ability.<br />At this time I cannot see how the DOW could possibly have any meaningful correction.<br />If the economy worsens they will print and the DOW will rally.<br />If the economy gets better...the DOW will rally.<br /><br />In the meantime the FED prints unlimited amounts to short commodities or anything that remotely threatens Wall Street.<br /><br />If there were only 1 bushel of wheat left on the entire planet, Goldman would short it..and get away with it!<br /><br />This will all end very very badly..but by then the banksters will own all of your gold, farmland, mines..your Sole!Anonymoushttps://www.blogger.com/profile/12484142363488637120noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-58685675593716503652013-06-28T09:16:47.540-07:002013-06-28T09:16:47.540-07:00Hey Preditor 1976
No doubt you are correct. I liq...Hey Preditor 1976<br /><br />No doubt you are correct. I liquidated a chunk of my position before it went negative.<br />Takes a key stroke to get back in.<br />Never sold a single ounce of my physical though.<br /><br />Patience will be key at this point...I mean patience that most people cannot fathom.<br />Dan is correct that this will be no V bottom without a black swan type event.<br />For the moment Gold is the most repulsed, reviled, hated, scorned and avoid at all costs asset on the planet.<br />This is a good thing, I will be able to get some on sale.Anonymoushttps://www.blogger.com/profile/12484142363488637120noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-4015162230727478712013-06-28T09:14:49.156-07:002013-06-28T09:14:49.156-07:00Well, now that gold is way oversold, Bernanke is n...Well, now that gold is way oversold, Bernanke is now attacking the grains, as DBA is plunging to new lows for the move.<br /><br />It is simply amazing how Bernanke has single-handedly crashed the CRB index and has completely obliterated any hope of inflation expectations, such that Yellen is now free to use QE whenever it is necessary in the future.<br /><br />If fact, if the S & P 500 drops below 1,500, or if unemployment starts crawling back up, I'm sure another "program" will be announced immediately by the FOMC, supported by Draghi and Uncle Abe.<br /><br />That will create another temporary inflationary "crack up boom", which will take the S & P 500 over 2,000 for sure, and the CRB Index won't be a danger since it will have to rally 35% just to get back to where it was in 2012.<br /><br />And gold would have to rally SIXTY PERCENT before it gets back to $1,900!!!<br /><br />Heck, if we just have a 25% rally in the CRB Index from here, the speculative juices will be flying so high, any jawbone effort from Yellen could quash inflation expectations in a matter of hours.<br /><br />By that time the Federal Reserve balance sheet would have doubled from today's levels, and will be piling on to our national debt at a rate of $2 trillion per year.<br /><br />But markets won't care because there won't be any inflation, and the next round of QE will cause another buying panic into bonds as Bill Gross's "Bond Vigilantes" have now turned into "Fed Frontrunning PigMen", LOL!!<br /><br />Simply the most brilliant Central Banking tactics ever employed.Markhttps://www.blogger.com/profile/13068811838777958318noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-13153757215514359392013-06-28T07:40:52.923-07:002013-06-28T07:40:52.923-07:00Here comes the bullion banks finally with some ris...Here comes the bullion banks finally with some risk management. They most certainly don't want the bottom to come in a week. They want to see it linger for a long time at depressed levels. willydoghttps://www.blogger.com/profile/16716849781430555079noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-4459973550905285692013-06-28T06:52:42.197-07:002013-06-28T06:52:42.197-07:00And note,
I invest more heavily in silver then go...And note,<br /><br />I invest more heavily in silver then gold. <br /><br />Cheer guy...<br /><br />Hope you have great weekendPreditor1976https://www.blogger.com/profile/13949210660675876231noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-30459416704247986982013-06-28T06:48:20.617-07:002013-06-28T06:48:20.617-07:00Arnie-
One of the things that Trader Dan has poin...Arnie- <br />One of the things that Trader Dan has pointed out is that gold is part of the bull market in commodities (the bull market in gold pretty well coincides with w/ the bull market in gold)--so the fact that lumber, copper, etc. have been flagging is telling. Also note that one of Jim Sinclair's pillars for 1650 gold is the bull market for commodities. (Currency debasement should be affecting the price of all commodities, right?). <br /><br />I don't think the answer is that central bankers are right (Even the recent BIS report stated as much as QE is just kicking the can) or have one at all. They are obviously soiled-pants scared that interest rates are going up, that asset bubbles are threatening to take down the financial system and yet the word of the day is deflation. <br />This isn't good for gold in the short-medium term, but it's not nec. illogical. <br /><br />I loved Trader Dan's post on the HUI: from the other day: The market is right, and maybe the are not interpreting the message correctly. <br /><br />MDLGTOhttps://www.blogger.com/profile/06636563285000423292noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-54198659461963480082013-06-28T06:46:27.126-07:002013-06-28T06:46:27.126-07:00Is this a consiracy theory?
- I'm a bankster
...Is this a consiracy theory?<br /><br />- I'm a bankster<br />- Crime pays (as long as the toll is lower than the crime)<br />- Comex is the tool of paper price manipulation<br />- Paper price manipulation will come to an end, because Comex stocks are being depleted quickly (i.e 100% margin market = 100% cash market, i.e paper = physical)<br />- Then as a bankster, what the hell do I need Comex for after manipulation is not possible? Why would I bother increasing margins to 100% to keep it alive/afloat?<br />- Why would I not choose rather to end Comex like HKmex ended, that is : I short infinity of contracts. Prices plummet. I make a profit. I buy physical gold, and more physical gold. Then I declare Comex default. I compensate the contracts with cash settlements. Hahahaha. The bulls are doomed. I made the money both ways. The day after, gold prices go up 30% and are traded through new exchange places such as Russia and China (currently being set up).<br /><br />Is it just science fiction?Anonymoushttps://www.blogger.com/profile/00335835171576180359noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-18524796487190848152013-06-28T06:43:51.727-07:002013-06-28T06:43:51.727-07:00I have never being so bullish in gold since 2008.....I have never being so bullish in gold since 2008...,<br /><br />I am not trying to get the floor.... But as a value investor am happy with my investment...<br /><br />Not to worry.. I am not planning to cash out next week...<br /><br />I am going to vacation .. Turn off my computer and relax....<br /><br /><br />I am all in and note that I am not leveraging position... So no liquidation for my position.<br /><br />"Gold is money and nothing else" was a statement made by J.P. Morgan to the US Congress in 1913Preditor1976https://www.blogger.com/profile/13949210660675876231noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-72732820262823810982013-06-28T06:34:12.055-07:002013-06-28T06:34:12.055-07:00yep, the fundamentals are (or used to be) there.
...yep, the fundamentals are (or used to be) there.<br /><br />Dan is right when he refers to it as snowballing. Only a black swan type event could ever get it going again.<br />Also right about Embry, I don't even waste my time reading what he has to say.<br />Keep in mind him and Sprott are behind some of the largest PM funds in the world. I can't imagine they have many investors left at this point.<br />Time to move on and do what Bernanke wants us to...buy the DOW. It looks like it is in a Bull market that has a couple more years in it.Anonymoushttps://www.blogger.com/profile/12484142363488637120noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-40563829824932542562013-06-28T06:03:53.731-07:002013-06-28T06:03:53.731-07:00Hubert Du Haut,
Agree with you. Be careful about w...Hubert Du Haut,<br />Agree with you. Be careful about who you decide to listen to. <br />Jim Rogers and Dan Norcini are both very good in my opinion. Followed them for a while and believe them to be great commentators, and guide us into making good decisions.<br />When you here comments like, silver is going to skyrocket, gold to the moon, $10,000 gold, gold will NOT go below 1520 (or whatever figure they give), 100 silver by end year, etc etc---be careful, be suspicious.Anonymoushttps://www.blogger.com/profile/10366683894545649989noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-53040169639190325432013-06-28T05:47:42.339-07:002013-06-28T05:47:42.339-07:00The one market that is supposed to benefit from cu...The one market that is supposed to benefit from currency devaluation , which is what QE is, is gold. And it is crashing. Throw logic out the door.arniehttps://www.blogger.com/profile/17597016551120682781noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-26270456074500542202013-06-28T05:44:42.678-07:002013-06-28T05:44:42.678-07:00debts and deficits won't be the end of fiat. C...debts and deficits won't be the end of fiat. Class warfare and inflation will. Those with inflatable assets who can deal with inflation, and those without. <br /><br />Seventy six percent of Americans live paycheck to paycheck. willydoghttps://www.blogger.com/profile/16716849781430555079noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-39016052423242849592013-06-28T00:29:18.820-07:002013-06-28T00:29:18.820-07:00Hi Dean,
imho Monty is right. It could take more ...Hi Dean,<br /><br />imho Monty is right. It could take more than one year.<br />On a yearly time unit, gold was up for 12 uninterrupted years.<br />12 higher tops.<br />This calls for a pause, on the same time unit, i.e YEAR.<br />So I'd forget about 1900 $ in 2013 and actually I'd love to see gold under 1600 $ (close of 2012) in 2013, because at last we would have the expected pause (well, we are in the middle of a terrible correction here, so we do have it).<br /><br />Also, bull markets usually go up slower than bear markets go down. Fear is a stronger - faster emotion than greed. In 3 months, we lost as much as 1 year of previous gains.<br />After such a collapse, it is quite unlikely to V-bottom anyway.<br />I think buying now can be only :<br />- long term investment<br />- very short term, targeting 50-100 $ moves up max.<br /><br />I'm disappointed by John Embry's statement :<br />“What’s going on right now in gold and silver is preposterous. The gold price has been driven down roughly $600 from its peak in August of 2011. But if you really examine what’s unfolded in that ensuing period, there isn’t anything that would justify the gold price going down to any extent, let alone $600".<br />If gold went ahead of itself, it was due to a major correction.<br />Jim Rogers was right to wait for it. Point.<br /><br />These "experts" are dangerous, because not only they don't seem to understand the dynamics of futures markets, but when proved wrong, they don't admit they were, they'll put it in the nasty manipulators. <br />I don't say there is no manipulation.<br />But I think manipulation is here to start the move and amplify it. It is not the main engine of the downtrend.<br />Anonymoushttps://www.blogger.com/profile/00335835171576180359noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-90038775981597218122013-06-27T23:35:30.756-07:002013-06-27T23:35:30.756-07:00Answer to Nate:
Yes, my friends and family would ...Answer to Nate:<br /><br />Yes, my friends and family would be so rich and powerful it would make you puke.<br /><br />As much as we loath to admit it, Bernanke has printed the US to prosperity. The US is in economic recovery. Forget this shadow stat nonsense and all the KWN tabloid style rubbish.<br /><br />Anyway....just read Monty Guilds latest. He is now saying it could be many years before we see anywhere near the 2011 highs again. <br />The fact that many were burying and hiding bullion almost seems comical now. At this point you could leave a gold coin laying around anywhere and I doubt anyone would bother with it.<br /><br />I hate to say it but shorting Gold for the last 2 years has been an easy money maker..this is not going to change anytime soon.<br />I have given up guessing where the bottom might be, I did foolishly buy some at 1380 or so thinking I was getting a good deal...ha ha ha ha!<br /><br />I might buy again when it hits $800..maybe<br /><br />Anonymoushttps://www.blogger.com/profile/12484142363488637120noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-39222359553049666392013-06-27T23:04:29.413-07:002013-06-27T23:04:29.413-07:00Dear all,
I've just bought a bit of gold as 1...Dear all,<br /><br />I've just bought a bit of gold as 1200$ exactly.<br />When a write "a bit", I mean that I'm using CFDs and one CFD contract is worth 1200 $ on gold, so nothing like future markets and over-leveraging here.<br />Reasons :<br />- on the chart below, I think that the Fibo retracements of the 750-1940 upwards move are playing an active role in the downtrend. I saw this configuration several times when I used to do intraday in other markets. Levels are like a stairway. You go down step by step, and bounce back up checking if the previous level is now a resistance, and that's exactly what happened until now, so I'm trying to play the 1200 fibo level.<br />- just under 1200, in the 1130-1150 area, I see a convergence of strong supports (mlh inf of andrew's fork, Fibo retracement of 300-1940, etc...) and I think that there is a strong chance that the market will bounce there and retrace at least to 1200 $, should 1200 $ not hold right now. If the market bounces now, I'll have my stop loss quickly put just under the recent lows. If it doesn't, it has a fair chance to bounce back to 1200$ and give me a chance to get out if I choose to at break even, depending on the signals I'll read.<br />- this starts to be an interesting level to buy on the long term, as we are nearing most production costs for gold. So buying a little now for the long term should the market decide to krach directly down to 1000 $ is not totally hopeless.<br /><br />By no means am I buying strongly now. It's a small, speculative muy in order to get back in progressively into the market which is starting to look quite oversold.<br />T.A is helping me chose here (to Hubert) : 1200 is a fibo level, and just under is an area which I think will be likely to generate at least a bounce back towards 1200 if 1200 doesn't hold now (1130-1150).<br />Let's see if it happens or not. T.A gives an edge on probabilities, no more, and certainly no absolute certitude (which is why I don't like analysts who forecast that this WILL happen, especially based on time and cycles...)<br /><br />http://s8.postimg.org/6yaa4cp6d/gld.jpg<br /><br />Anonymoushttps://www.blogger.com/profile/00335835171576180359noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-8011988044246675952013-06-27T21:20:13.076-07:002013-06-27T21:20:13.076-07:00Pretty soon we will hear the real reason for the g...Pretty soon we will hear the real reason for the gold crash.<br /><br />My guess is that a major commodity fund blew up.<br /><br />The real shocker is that the price decline in the PM's was greater than the housing crash in 2009, or even the 1987 Dow crash.<br /><br />Who would have know that when "This Is It!" was hollered about in 2011, it was a signal to short gold and PM stocks for one of the fastest bear markets ever.<br /><br />Most likely the result of forced liquidation by a major player getting vaporized.Markhttps://www.blogger.com/profile/13068811838777958318noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-75242302577413702222013-06-27T21:11:45.281-07:002013-06-27T21:11:45.281-07:00Interesting analysis by Citi's FX Technicals:
...Interesting analysis by Citi's FX Technicals:<br /><br />http://www.zerohedge.com/news/2013-06-27/citi-are-gold-and-silver-finding-bottomAbQKhttps://www.blogger.com/profile/11917289220436441429noreply@blogger.com