What we have at the end of the day is a head fake and a bullish long lower shadow on the doji/hammer-like daily stick. Lets see if we get any follow through tomorrow.
TNH – Big Toppy
Looking at some of the Gold/Gold related stocks and thinking it might be a good time to nibble.
Oil could drop another 6-7 points, and still not violate the long term uptrend of the chart.
I don’t think there’s a person on the planet that doesn’t want a sensible, calm market to return. This is getting more insane every day. The VIX almost went into the triple digits today.
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it deleted my post for having too many links, but luckily I copied most of the post because I wanted to move it to your most recent post.
Anyways, I found what I was looking for earlier
a 100 year Dow divided by gold chart, and a dow inflation adjusted chart. You’ll have to click on my link and navigate from the home page.
Judging by that graph it looks like the loss of value in the dow from 70 to 79 was worse than the great depression but in fact adjusted for inflation, although it’s close, that’s not true, and in fact, the spike in gold was due towards more of a mania in gold, than a panic and loss of financial value, relative to the great depression, even though it comes close, as you can see on the inflation adjusted dow chart.
Even so, no one would think of the 2nd worst “stock market crash”, or the worst 10 year span of the stock market being from 1970 to 1980, even though in reality it is.
Figure some people might find it interesting.
Judging by the current trend in those charts, looks like dow is still headed down, relative to gold, and the dow is still going to fall, relative to inflation. So I agree. A good plan is buy gold dips, short stocks on rips.
Now I just need to find several more charts comparing relative value and trends, just like the dow/gold ratio have a dow/silver ratio, and a silver/gold ratio, and a oil down
Have 100 year charts (if applicable) of the following in relation to each other
Gold, Silver, Steel, Copper, Dow, S&P, paladium, uranium, natural gas, oil, etc, etc, etc…
Would be excellent to have this information to really get a gauge of those near support levels.
Don’t have the energy to look right now, but maybe I will when I get the chance.
Until then, lets all be on the look out for a charting service that has a 100 year or more archive that allows you to compare X stock /Z stock chart, or X commodity/Z.
Would be excellent within industries to know how stocks are doing relative to their sector.
Great links RC…
I heard Peter Schiff on my way to work on CNBC, I’ll have to look it up to see if anyone posted it on youtube.
With him, and the information you provied through your blog, and what I’ve seen with the link I posted in my above comment, I’m going to take off my gold shorts, and go long, in addition to my GLD straddle, and switch to an upside bias for now.
Although I still would like to see gold vs silver graph and vs steal and other things to see where each is relative to the other names and see if there’s greater value in silver, oil, natural gas, steel, etc relative to gold.I’d like to find recent value, in a long term trend up. Like oil gaining more than gold historically, but oil being at a support of a trend line up would convince me to focus more on oil, and less on gold.
I’m concerned about the 2 year comparrisons of gold, silver, and steel, in that steel and silver have declined more recently, but in relation to the trend that information might be irrelevent if more value is placed on gold, and gold is seen as more scarce.
My personal thoughts are that silver and steal are more valuable as something that can be used for more purposes and has more physical demand during times other than fear, but I can’t really verify that without more info.
Found the video.
Thanks for the video link.
Mark can’t stand Peter, lol. IMO, Peter is a G.
hahaha, I just watchtd a vid of peter schiff on Glenn Beck with Bill Poole, and Peter used the best analogy I’ve ever heard.
“The governments like a bunch of little kids with a chemistry set, they’re searching for a miracle cure, but in the end they’re going to blow us all up!”
What do you make of this?
http://goldinfo.net/silver600.html
Chart isn’t very balanced, should have gold and silver on the chart, not gold/silver and silver.
600 year chart of silver up till 98.
looks like gold outperforms silver. and the trend is up on the gold/silver ratio. Although it could be forming a gold vs silver bubble, and silver could be under value, 600 year downtrend of silver isn’t something I want to fight…
Have to wonder ow a site like goldinfo.net got their information on silver, and how unbiased it is though.
schiff is the man. i like haines, too, but cnbc is too constrained by their clueless producers and their tendencies toward manufacturing fairy tales of horse shit “balanced” opinions, rather than the truth. they should toss kudlow into the drink and give schiff his own show.
Nibble gold my ass — be carefull RC! Gold is going to 500 next (it’s still significantly lagging the rest of the metals complex to the downside, but will play catch up according to history) and metals equities will be leading the way in downward spiral fashion.