Beautiful retest in gold prices yesterday. This is a pretty sharp reaction as well.
If you are a bear, you’ve now confirmed your upside reference points.
Joined Aug 2, 2009
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http://www.kitco.com/charts/livegold.html
LOL at the 10:45 manipulated take of gold and metals. THis charade will be up soon enough
What if the manipulation was the rally, to encourage you to buy again?
That would be a tough pill to swallow.
love how the bears always so X has gap fill down to some price level – what about the gap fill Gold has to $1900.
LOL – a 3 day rally. Highly doubt yesterday was the high in gold.
With all due respect, you’ve been saying this since last year.
you’re telling me Gold is never going higher than $1200? gladly take that bet.
then you should be shorting it with everything you own
@dfasd, why would anyone make a bet on something NEVER going to happen? that’s a bet someone can’t ever win. don’t be stupid bro.
Bchu, you are a Gold bull recently, yes?
Something tells me he has no problem swallowing large objects….
And I agree… this charade will be over soon. The charade that had Gold rallying and Silver already diverging.
But yeah yeah… I know… Gold 5,000…. never down ticks again… King Dollar… King Midus… the yellow brick road… and all that shit…
you have no understanding of fiat vs gold value
Apparently, neither do the rest of the experts.
Jeff – run an overlay of the value of gold vs. value of the USD since 1970.
No… you don’t understand. You don’t understand anyones point here. Gold isn’t going to zero… but it’s going lower first and then higher.
The Bull Market in Gold started with a period of positive to neutral correlation with the Dollar between 2000 – 2002. The same thing happened off the bottom in 2009… As well as in 2010 after Flash Crash. Every Gold bottom has started with some period of positive to neutral correlation.
So before you talk shit about what people know… find out what they know first. And don’t put your words in people’s mouths… Done with you. Good luck.
My boy is wicked smaaat.
Thank you much my man. Means a lot.
Then wouldn’t the large buy order in gold on Friday at 10:00 also count as manipulation? If I had a few hundred million lying around, I am sure I could manipulate prices as well, but it would be for my own gain, not related to a conspiracy theory
Oa, double down on X here?
Double down? On calls? What if they lose?
thought the spot was good at the retest of balance
It might be, which is a good reason to hold. Adding to options is a tough biz though.
blogging about NUGT boners all year through a seemingly mind numbing loss is what you call a ‘riskless principal’ transaction. either youre not actually trading, or youre losing someone elses money..alot of it
@OA – not sure why but not letting me reply to your comment so replying here.
Gold bulls? well, i do thnk long term (i.e next 6 mos), gold will be down big at some point. I believe your thesis of $900 on gold. But what I’m not sure about is the road to get there and if we grind up, down, up down, before we flush, 3x instruments like JDST will not experience the greater affects of the flush. I do think after today’s move, bulls will push back hard. But what do i know.
I’m flat at the moment.
one thing that worries me about the miners price action is that recently, when gold up a few $$, JNUG up 20%+. When gold down $20, $JDST can barely muster 15%. just seems like more buyers on the long side…maybe this is what you want for a flush to take place. not sure
Same thing was going on when gold was going up with JNUG after GLD hit 109/110 and started building back up – moves were less impactful in the miners until directional momentum took place. You could have held JNUG for a week before you saw it break out of a range last Friday
http://www.zerohedge.com/news/2014-11-19/commodities-are-crumbling-gold-fixing-or-another-fed-minutes-leak
This is your problem. You read Zeroedge. You need an intervention.
I read all types of research blogs etc. The problem around here is everyone is a perma bull in micro craps
The funny thing about the looney gold permabulls is that at no point in time will they admit that they made a bad investment. Unfortunately for them, too many retail investors also have holdings that they are willing to take losses on.
Further, imagine you’re a fund manager with a large allocation in gold going into 2015 when an interest rate increase is very likely to happen. That’s a known loss, and it’s easier to hedge in a strong dollar. My guess is that post the Swiss gold vote on Nov 30 (which will fail), funds are going to be unloading in December.
clueless
Jeff, are you waiting till post minutes to initiate any other option postions? I like VEEV, NMBL here and now. Thoughts?
Is there enough time to squeeze out some more on CLDX here before Friday here, OA? I’m in my last set of Nov 18s.
Just feels like denial on the one-minute chart since Monday afternoon…
BAMMMMMM MFckers
That is an impressive conviction move in gold before the meeting minutes – someone taking advantage of cautious traders?
shenanigans galore
Fuck it I’m calling it, GDXJ will top at 33 and GC_F at 1210 after CTAs pyramid into the momentum trade and subsequently get their heads blown off.
https://www.youtube.com/watch?v=xAhBa2zvAsY
Still have a motivated seller above to keep prices below $1200 – it appears that is the line in the sand.
Have to give them credit. Gold bulls rnt to be messed with now.theyre looking to rip heads off te shorts.
While I have a bias, I find the action interesting as you have various players with very different motiviations involved in the action around gold. I think most of us (myself included) tend to only look at the 2-3 variables we think are important and key in on those, but there is so much more involved with gold given its universal acceptance as a trading vehicle, hedge, store of value, etc.
I agree. Gold is used by many people for many different reasons… that has made a huge effect on current markets and investing. And in a vacuum scenario any commodity priced in Dollars should maintain an inverse corrolation to the Dollar. It’s when speculation gets involved that the scenario changes. Otherwise the Gold chart would just look like the Dollar chart flipped over… and that’s far from the case over time.
Look at the Silver chart going back to 1980. Looks incredible for a long term sentiment play. Great Aversion look to it on this Bear Market.
Canalsrb,
Would you mind expanding on what you mean further. It sounds like you have researched this well, but I’m not sure I fully understand. Thanks.
Not sure if you’ll catch this Billie as its a couple posts behind… But by speculation changing in the Gold/Dollar relationship to an extend the best thing I can say is observe the two charts longer term. If they were exact relationships the two would move in similar amounts. From the Bull Market bottom in 2001 the Dollar plummeted and Gold benefited from that. But from 2008 on the Dollar moved sideways while Gold went into overdrive. The extra fuel was the increased speculation by retail that caused the moves to become larger. It’s that extra money that has been getting flushed out for the last 3 years. Eventually the whole thing will restart once all the excess investment money has been removed and the metal returns to more normal historical behavior.
As far as for the Silver long term sentiment… pull up a chart running back to the last Bull high in 1980 and compare the chart to OA’s Sentiment chart he uses (It helps to use a Log chart on this one). Essentially the entire late 1980s and all of the 1990s was pure Discouragement. It can be argued that the entire 2000s Bull Market was a Wall of Worry move. Think of the Anxiety that went on when Silver approached $50… people wanted to be involved but were scared to death at the same time. On the same Monthly chart the last 3 years looks like one massive falling wedge, very similar to what we look for short term as Aversion moves… and most people definitely feel some feelings of aversion to the metals. I can only imagine that will peak once Gold falls below 1000 and Silver has a 13 handle on it.
Anyway… that rant is some of the basis for my perspective.
Bear Trap in TWTR? MACK and DDD looking strong today…liking the pullback in GWPH