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IS GOLD FINALLY GOING TO GET ITS FINAL WASHOUT I HOPE???
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[quote:Anonymous Coward 60626174:MV8yNTU4MzI5XzQ2NTUzODYxXzQxNzQxNkNB] [quote:Punk-A$$ets:MV8yNTU4MzI5XzQ2NTUxODMxXzk2MEEyQTA0] [quote:Antipodean:MV8yNTU4MzI5XzQ2NTUxNzI1XzgzMjA5ODYx] Hey. I just found this thread but geez I wish I stumbled upon it months ago! I just read all your posts, and you've been pretty bang on. I've been buying PM for the past few years and have a decent average but I've also been playing etfs and have been burnt hard. Do you run a subscription newsletter or anything? Do you still have your hedge shorts in place? Still picking $15-16 low for silver? [/quote] No, I dont run any newsletter. I dont have that kind of knowledge. Id recommend staying away from the top 10 leading metals sites and that will get you started. Read some Martin Armstrong. What he says makes sense and [b]there are no made up boogymen[/b]. I closed all positions some time ago and had a nice net profit. The only position I have running currently is a small long position in the juniors but I could get stopped out for a small loss today. Ike Iossif said it wasnt quite time to go long on a bounce and I should have listed to him. lol As far as the silver price, I think 14ish should contain the drop but if the dollar index more than doubles from here its probably not even worth guessing targets. What kind of world will we have with a USDX above 160??? That seems like great depression territory to me. ????? [/quote] To me...the trading this morning at the witching hour (early morning before our markets open up) CLEARLY proves there is a boogeyman! It was down almost $14.00 in a matter of minutes. Then rebounded back up to almost no loss in a matter of a few more minutes! This is manipulation. With the purpose of dumping paper and acquiring physical. This all being done while we sleep! Wake up everyone. Just look at what they are doing while you're asleep! Literally Someone is shorting paper in the after market. Now think how many contracts have to be dumped in that short amount of time to cause spot to drop $14 in minutes. Then for it to rebound as they gobble up the physical and deep discount. That is boogeyman! I love your posts OP and you have been dead on with so much. But I have to cordially disagree on this one point. And if you recognize the existence of the boogeyman then I'll bet you do even better trading. Although I'm pretty sure you already do..which is why you're up and posting at the time when they always crush metals in the after market. ;-) [/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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