48 replies to this topic

[dougie]

or likely ONE more low later
http://scharts.co/1B3fuZb

[dougie]

i don't know if this is THE bottom but these prices are going to look attractive sometime in the next 24 months

http://scharts.co/YGnOul

[dharma]

a while back i read a piece by larry summers. (from memory) 2 things stuck in my mind 1 he advocated negative interest rates- well that really sticks it to savers , they lose money by having it in a bank. they actually can lose money. 2 institute an electronic currency. this is appealing to govts in this way there are no cash transactions(there is no cash) so all transactions are tax accountable. of course this will have a negative affect on the economy. and part of the idea is it will squelch china and russias efforts to build their gold reserves. of course this will require the acceptance of the populace. marty also things they will institute an electronic currency. he thinks that young people already do transactions on their i phones, so its not a stretch for them. of course the swiss referendum will have no chance of really being approved. much like scotland had no chance for independence. how will all of that affect the barbaric relic. money from a previous time and age? awaiting clues as to direction from the market. bearishness is pervasive. the dollar /yen seems to be topping out. the best laid plans of mice and men............. martys argument is its not about inflation/deflation. gold is protection against govt dharma

[dharma]

watching and waiting. still in a down trend until the market shows otherwise. too early to conclude this is the bottom. keeping my hands in my pockets.yen dollar looks better. shanghai new 3yr highs dharma

[dharma]

sentiment \ HGNSI unchanged yesterday at -21.9% MarketVane’s Bullish Consensus rose a point to 38% today DSI fell 2 points to 13%. still in the bearish camp gofo is in backwardation out to 3 months, which shows demand is strong for physical right now 1080 may be a magnet, there are several #s which come up for me in this area what i want to see is gold make a lower low and the miners not follow gold to new lows. 15.83 was the low for gdx in 08 so far we have held that low. we are trying to find a bottom. trying not to shoot myself in the foot dharma now oil prices remain under pressure . the saudis continue to display their displeasure @ russia for not allowing them to build a pipe through syria. there is currently one pipe and one supplier to europe and that is russia. one cold winters day a couple of years ago , putinc closed the pipe. w/the weather getting colder russia quietly holds the trump cards it reamins to be seen how that plays out. will they shut the pipe? will they accept payment in another currency besides dollars? all of these folks who view the world as static may wakeup one day to several surprises. this being one of them

[dharma]

An Indian finance ministry official said this morning that October imports were not 84- 88, but about 150 tons, exceeding the 143 in September. and this figure does not include smuggled gold , which would bring the figure to well over 200 tons in a month.the demand side is going to usher in the next bull, whenever that comes. and as the gann guy pointed out the longest bear in gold was 45 months. this one is 43 months , so we are long in the tooth there. i dont feel there is accurate reporting of chinese imports of gold. and the press reports gld is down to 720tons of gold , down 2 tons yesterday. the gld figures are close to meaningless. the demand is not going to come from here, it is going to come from the far east. the gld is just a means for the banksters(who run the gld) to get their hands on physical gold. when gld came out i actually read the prospectus, and my thought was , this is a good vehicle for shorting or hedging. gld is not entirely above board. 1180 is the ceiling right now. a rally above that can be meaningful, especially if 1200 is put in the rear view mirror. i have a cycle ending months end/beginning of december .it was calling for a low. keep in mind in all of this putin is the master chess player. he is being squeezed by lower oil prices. russia has little to no debt and they are resource rich. they have been aggressively adding to their reserves. the fact that most everyone is looking under 1k has piqued my interest. dharma

[dharma]

marty http://armstrongecon...ls-gold-stocks/
still looking for more damage
dharma

[dougie]

Intersting day. Yen down, VIX down, but silver and gold up massively in some sort of 3 or C... 1180 gone now presumably. this could run a bit more.

[dharma]

Intersting day.
Yen down, VIX down, but silver and gold up massively in some sort of 3 or C...
1180 gone now presumably.
this could run a bit more.

keep in mind
@the 1130 lows the short position was the largest in 15 yrs.
+the physical demand is there.
now 1200 is next resistance
dharma

[dharma]

http://www.zerohedge...wiss-gold-refer
dharma