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02:47 PM
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Subject
IS GOLD FINALLY GOING TO GET ITS FINAL WASHOUT I HOPE???
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[quote:Anonymous Coward 68606878:MV8yNTU4MzI5XzQ5MzczNDQwXzU3OEU3RDJF] [quote:Punk-A$$ets:MV8yNTU4MzI5XzQ5MzUyOTcwX0I2MDc4OUJC] [quote:Anonymous Coward 60996004:MV8yNTU4MzI5XzQ5MzQ3MjAwX0ZGQUQyOTFG] [quote:Punk-A$$ets:MV8yNTU4MzI5XzQ5MjAyODkzX0IzRjNDMzZE] [quote:Anonymous Coward 68493907:MV8yNTU4MzI5XzQ5MjAyNjkxXzU3NjM4RjRC] Gotta laugh about all those experts like Maund who were 100% that this was over. They were wrong yet again. It was fucking clear this was not over by a long shot. Hope we start annihilation phase soon or this will drag on until 2016. [/quote] Only Armstrong for me thanks. lol Those other guys are no better than I am at predicting where the market goes next and that aint too good. But I think this shit goes on for the full duration because thats what Armstrong has said pretty much. Just tune out the PM markets until at least Nov/Dec I guess. Thats the 1st shot for Armstrongs low. BUT he prefers the April 2016 low. [/quote] Punk, if you can decipher Armstrong's writings you are a genius. What does Armstrong project as gold low for Nov/Dec? Can you describe the scenario leading to a gold low in Nov/Dec ? [/quote] He doesnt project any specific price just a time and price range anywhere from the $600s to the $900s generally speaking. He gives 2 specific date ranges for the lows. Nov/Dec 2015 and April 2016 with a preference for the latter. The best thing I ever did was just give in to it and tune out everyone else. Most guys like Larry Edelson and especially Maund have gone back and forth including me. Armstong hasnt flinched from his targets laid out in his gold report. When he starts calling for a trend change I'll get on board. [/quote] Punk, thanks for comments as I find Armstrong difficult to understand. I am wondering, as you are obviously an astute observer of gold, if Armstrong is believable, why not hold gold short now rather than wait to go long? [/quote]
Original Message
Any gold bugs left? I've been waiting in the wings for what seems like forever - waiting for this bear market in gold to get over and done with. With todays sell off we might be close to seeing new lows in gold.
Dont get me wrong, Im still looking for very high gold prices in the years to come but I still think we're going to see $1000 gold give or take 10%. $15 silver give or take 10%. I repeat, we have NEVER back tested the $1000 level in gold - yet.
There is an uncanny resemblance to the recent trade range in gold to the previous one. Broken link below.
finviz.com/futures_charts.ashx?t=GC&p=w1
Notice the $200 trade range between $1600 and $1800 lasted for more than a year before we got the washout. The current range of $1200 to $1400 is almost an exact copy for time and price range and with the breakdown today we should plunge once we break $1200 again. It would seem $1180 is as important now as $1530 was in the last flush.
If the current pattern holds, the final lows in gold wont come until later this year or very early next year.
Incidentally, Martin Armstrong has said Jan 2015 is an important turning point for gold and that gold would rally strongly after his next ECM change Oct 1st, 2015. In another writing he also said a low in gold in 2015/2016 would be perfect for a blistering rally in gold thereafter that takes it to new highs in 2017/2018.
Just touching base with any gold bugs that might be left. Hang in there. Our time is coming but patience is still required. Probably better to hold GLL or DUST for the time being. A monster trade in NUGT and JNUG is probably not too far off.
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