thats my take, of coure it has to get there ha ha. that level says all systems go
rgld
Started by
gannman
, Apr 01 2014 07:28 PM
5 replies to this topic
#1
gannman
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Posted 01 April 2014 - 07:28 PM
feeling mellow with the yellow metal
#2
Russ
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Posted 01 April 2014 - 11:53 PM
Armstrong.... "We closed Friday below the Weekly Bearish at 1309 and now we are testing the next Weekly bearish at 1280. After that we show 1240 and thereafter new lows once again. The tree has to be shaken. Just as in the stock market, when we forecast that it was turning back in 2011 and NEW HIGHS would be seen, that seemed like a novel concept that Barron’s mentioned in passing. Nevertheless, all the way up the talking heads were talking it down. That is why it kept going because the MAJORITY must ALWAYS be wrong. That is the fuel that makes the markets move.
We see a low ideally forming temporarily as early as tomorrow. If gold bounces into a marginal high next week on the 9th, then lookout below thereafter. The 2014 Metals Report will be out shortly with the long-term forecasts."
rgld may go down until about april 21 , which is interesting because that is when the porter stansberry group says china will drop a bombshell on the usa regarding debt and gold.
Edited by Russ, 02 April 2014 - 12:02 AM.
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#3
gannman
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Posted 02 April 2014 - 12:56 AM
tx, yup it either rallies here or it could go into the abyss.
feeling mellow with the yellow metal
#6
Lee48
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Posted 02 April 2014 - 07:31 PM
Yeah, he can work them chart patterns with a good dose of humor. He probably could have used gdx instead of a single gold minor.
On the stk market over valuation side. It's looking pretty extended. I guess that's the kinda bubbles we see when the Fed is just slowly cutting back on the printing press instead of actually raising rates like in normal times.
http://blog.kimblech...ehighsmar31.jpg
It should be quite a bubble by the time this one pops. I'm looking at shorting biotechs using bis after this little market rally is done. ibb is still very weak in it's water fall as the S&P makes new highs.
http://blog.kimblech...atternmar29.jpg
Sorry, that's another subject.
On the stk market over valuation side. It's looking pretty extended. I guess that's the kinda bubbles we see when the Fed is just slowly cutting back on the printing press instead of actually raising rates like in normal times.
http://blog.kimblech...ehighsmar31.jpg
It should be quite a bubble by the time this one pops. I'm looking at shorting biotechs using bis after this little market rally is done. ibb is still very weak in it's water fall as the S&P makes new highs.
http://blog.kimblech...atternmar29.jpg
Sorry, that's another subject.
