4036 replies to this topic

[senorBS]

 

 

 

 

well seems like he is well hedged

 

agree with his analysis, key is how low this very likely wave 5 of C goes, will be watching for Aussie XGD to probably bottom first as it lead the way lower and has bottomed first at prior key lows

 

Senor

 

 

Good suggestion. This is Newcrest, largest gold miner in Australia. They trade a day ahead of US so they missed Friday's massacre in US, but you can make a case that it finished 5-waves down.

 

Thx for bringing Newcrest to my attention, it closed last week almost a full point BELOW ITS 2020 crash low! I will do some due diligence on it, but it may be one I start slowly accumulating

 

Senor
 

 

[dougie]

 

 

 

 

At the risk of stating the obvious, the Fed is sucking dollars out of the global financial system and the shortage of dollars is causing the USD to go parabolic. Not something I want to stand in front of.

"Yup, the 40 year cycle turn is plain as day in that Monthly 200 MA...

 

Those that keep calling for the demise of the dollar imminently will continue to do so, and continue to be wrong...

 

The 6 other currencies are so much worse off."

 

Marty Armstrong has said for many years that the US dollar would go up as Capital fled Europe from the coming debt crisis (they are going to default on the debt created since WWII which will start in 2023 into 2024, this will be followed by WWIII which the political elite want as a diversion from the growing civil unrest after the social programs and pension collapse. Schwab's 'you will own nothing and be happy' is giving the elite permission to default while pretending it is for the people who will also need to get used to zee bugs for dinner. Armstrong predicted the unfolding crisis at least 3 decades ago and like a dying body the outer extremities die off first and finally the core (the USA) dies last which will happen later this decade. His latest interview is well worth listening to... https://www.armstron...-a-nato-vassal/

 

My US dollar chart has good projections for a major high in late 2023, however he thinks Gold will also start to move up after the Nov. elections, the stock markets and gold will bottom towards the end of the year he says, my projections for the SP500 are for it to bottom around early Dec. The dollar index chart's signal is anchored on the 2020 covid crash which gives it great power. 

 

 

 

nice work Russ.

How low do you think gold will go into December?

 

Thanks Dougie,  1500 area as Armstrong said is the next support since Gold has now broken previous lows looks possible, my main signal now is for SP500 to go down into early Dec. (could also be late Nov)  so it looks like it's going to keep crashing down and gold will go down with it but my signal is for SPX not gold.  King dollar is the money magnet now.  If Gold gets to 1500 and then goes up to 6000 by 2024 that will be a hell of a springboard as the world heads into hell and nothing can be done to stop it. As the late British Prime Minister Margaret Thatcher said to Armstrong... "it's just time", her sense of cycles.   

 

thanks. 1500 would see the miners a bit lower no doubt though perhaps not the train wreck some are expecting meaining one will need to be nimble and be able to endure max pain

[dougie]

 

 

 

 

well seems like he is well hedged

 

agree with his analysis, key is how low this very likely wave 5 of C goes, will be watching for Aussie XGD to probably bottom first as it lead the way lower and has bottomed first at prior key lows

 

Senor

 

 

Good suggestion. This is Newcrest, largest gold miner in Australia. They trade a day ahead of US so they missed Friday's massacre in US, but you can make a case that it finished 5-waves down.
 

 

that is already a 45% haircut...

wow.

[dougie]

anyone seen the chart of Credit Suiise?

Implications cant be all rosy

 

https://www.tradingv...com/x/pNupcAOQ/

[dougie]

Is the USD monthly in a 5 of 3?

[dougie]

seems to me GOld is going DOwn for another 10 weeks or so.

hanging on will be hard for gold bulls

[dougie]

inflation? Risk? Plenty

gold: whacked.

 

gang get real here

[dougie]

only one counterpoint to this is the COMMS

they are as low on shorts as they have been in a long time

 

but COT doesnt time

[dougie]

i dont think anyone called to be shrt here in some time...

[dougie]

one thing positive is that gold in some curreniceis is near ATHS;

GBP for one