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emerging wave 3


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#631 Smithy

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Posted 17 March 2018 - 07:18 PM

There's those 5 waves down from 1330 I talked about. Thanks Jabat.

 

The Aussie dollar is plunging - not helpful to the gold bulls.



#632 dharma

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Posted 18 March 2018 - 11:42 AM

i think that much more important than what ever the fed says is the mar 26 event in china

 

 

i am looking for a lot higher prices and for a sustained rally.  that requires some major fundamental 

 

change imo. what is happening in china has the potential to do this. a wave 3 will start at sometime

 

whenever it starts it is ok with me . this whole 19 months of trading has been a correction. that means 

 

an impulse is coming when it  is endedde

agree , for me this is the main event, not the fed. although each tightening has caused a rally in gold. 

china buys 8 million barrels a day of oil.  about 6 million of which is bought on spot market , the other 2million barrels a day is on contracts w/russia.  so that will be roughly 6 million barrels a day bought , exchanged for yuan , and then gold. think of how much gold will be changed hands and bought on the open market. its clear that there is nt that much gold around. so the price will have to rise to sell oil for gold. if you have follwed greshams law, ie good money drives bad money out of circulation. then its fairly clear what the long term implications of this will be.  lets take a trip back in time for a moment. nixon closed the gold window in 71 , the usa was starting to import more oil and Degalle was exchanging dollars for gold.  then sec kissinger went to the saudis and proposed what is now called the petro dollar. the saudis would receive dollars , and protection for payment. and the saudis would then take those dollars and buy us bonds. thus the dollar became king, undisputed #1 fiat currency where it has remained until march 26, then we see what happens.  gold for oil.  gold is being placed at the center of the financial world . there is no larger trading in a commodity, oil is the biggest and most used.   

since the beginning of time  not that much gold has been mined. it is rare.  now its being placed at a center of the financial universe. the implications are vast. not going to take the time to get into all of that.  but bottom line=oil for gold the price of gold will rise. we will see how long it takes the market to put the dots together.  6 million barrels of day china consumes on the spot market.  its why i believe china/russia displayed their new hyper sonic missile systems.  letting the world know they are capable of defending themselves.  this new exchange is a game changer. 

dharma  



#633 Smithy

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Posted 18 March 2018 - 12:04 PM

Dharma, thanks for that. You picked up on any upcoming dates from Hadik?



#634 gannman

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Posted 18 March 2018 - 12:17 PM

i also think we are close to a constitutional crisis in the u.s. 

 

trump is going to fire mueller and that will trigger it 


feeling mellow with the yellow metal


#635 gannman

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Posted 18 March 2018 - 09:47 PM

hmm looking at the daily macd on the dollar if it cant turn positive the dollar is vulnerable imho 

 

to a considerable drop . something to watch 


feeling mellow with the yellow metal


#636 senorBS

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Posted 19 March 2018 - 08:48 AM

added on weakness this mornin, now about 25% long, as always DYODD

 

Senor



#637 Smithy

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Posted 19 March 2018 - 10:13 AM

Hmmm.... 1307 overnight low a candidate for a double bottom?

I've been expecting a decline into FOMC.



#638 dharma

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Posted 19 March 2018 - 10:17 AM

the pattern has been gold declines into the fed meeting, the fed raises rates and then gold rallies, doesnt mean this is set in stone or this pattern will continue.  BUT this is what happened in the past.  hard to fathom that folks are still dumping miners at these valuations  but they are

in retrospect these will be buys of a generation. anyhow,  not long now.  fed and then on the 26th shanghai starts oil for yuan for gold

dharma



#639 senorBS

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Posted 19 March 2018 - 10:50 AM

HL buying KLDX IMO VERY cheaply, bot HL at 3.42, will add more if it goes below 3.38 previous low, as always DYODD, I like today's action and gave added more, now 30% long, continues to look to me like an UGLY BOTTOM at right side of 4-5 yr basing pattern, we see

 

Senor


Edited by senorBS, 19 March 2018 - 10:50 AM.


#640 senorBS

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Posted 19 March 2018 - 11:00 AM

Dow down over 300 pts, miners up in general and not far off session highs - possible change in that correlation or one-day wonder? we see

 

Senor