If we were to move the discussion over to Deutsche Bank and their $50t in notional value derivatives book, I’d tell you there is much to fear. But the whole idea that the Fed, ECB and BOJ will all of a sudden stop propping up markets, in favor of tight monetary policy is so absurd — it borders on the delusional. I don’t know how these people are able to carry on these discussions on the teevee. I wouldn’t be able to do it for more than a minute, without having a Tourette’s style cursing outburst — accompanied by extreme acts of violence.
Gold is a buy here, even though it looks horrendous. The technicals are dreadful. The sellers are piling in and the shorts are vigorous. It has been a losing position of mine, almost immediately after buying them. But I am sticking with them, as part of an asset allocation programme, because it’s my belief that central banks cannot stop demeaning themselves or the monetary base without causing massive dislocations in the marketplace.
In other words, if they hiked rates and the ECB ceased their QE programmes, the markets would get fucked so hard and so fast, the losses I’d endure in GLD would be readily offset by both my bond and FCX short positions — with ease.
Timing bottoms is another ridiculous adventure, so don’t expect a hooker with cocaine at your front door tomorrow morning.
Here’s the predictive oscillator in Exodus. New lows. It’s worth noting, GLD isn’t oversold yet on out 12 mo algorithm so far. And, today’s drop in GLD was the 13th largest since 2009. Looking back, it reminded me of the drop on December the 14th, 2011.
in agreement 100% here. dollar cost averaging today. too many ways to look at gold pricing and all conclusively show it is on huge sale today, BIS & central planners stomping down notwithstanding.
Don’t trade on emotions.
Longrun i like gold but in crash, CB’s like to trash gold and if they loose control. Bonds, gold and equities will crash at same time. Cash is king.
Pay to play folders, looks like gufficer is picking up assange’s slack. donations by banks for tarp what a piece of shit democrates have become.
http://www.zerohedge.com/news/2016-10-04/clinton-foundation-hacked-exposing-thousands-donor-databases-pay-play-folder
Gold and oil in bear trends, you are only playing bounces.
Indexes see 17,000’s in November, as Hillary wins and keeps up the corporate bashing.
Selloff slows when she picks an ex-Goldman slug for Treasury.
Somewhat of a late St. Nicholas December rally after Yellen injects herself with heroin live on December 14th and there is no Narcan on hand to save her.
my liberal illusions ended after obama’s first term. and I actually wanted Nip in 2004. Obama is still lost in his unwavering ideal dreams. he is lost in his illusion, cus he believes he must do it for his grandmother death. how could he be wrong. well cus Obama really is clueless about the extent of the corruption of Americans. we live in a culture where if you have money you can literally have any kind of slave you want. moral hazards runs deep. we are all corrupted by creature comforts in america. we are all evil, if you really care to look, everybody wants and edge, the amish are looking very smart these days.
http://www.zerohedge.com/news/2016-10-04/even-new-york-times-thinks-obamacare-disaster-its-too-expensive-and-inaccessible