IS GOLD FINALLY GOING TO GET ITS FINAL WASHOUT I HOPE??? | |
Punk-A$$ets
(OP) User ID: 30559668 United States 10/15/2014 11:41 AM Report Abusive Post Report Copyright Violation | Indeed. I get the feeling a sea change is happening here. That doesnt mean we wont see one more final shake out but instead its more related to the general public realizing the so called recovery was a sham - which it most certainly has been IMO. The way gold and miners are rising on the market rout reminds me of what we had pre 2012. |
Anonymous Coward User ID: 64095335 Germany 10/15/2014 12:43 PM Report Abusive Post Report Copyright Violation | I do hope we get the final washout soon. I mean, just look at the long-term chart. This move down looks totally incomplete. Massive quick impulse down, then a long consolidation and then we simply start a new bull market and move back up? That makes no sense. It just doesn't look right. We need to destroy the remaining bear energy/momentum by wiping the slate clean, it's as simple as that. And that will supply new powerful energy for a new strong bull. Too many stubborn bulls have still not given up and that needs to change. I really hope gold doesn't move through $1250 with ease or we might chop around like this for even longer. It's been long enough already if you ask me. |
Punk-A$$ets
(OP) User ID: 30559668 United States 10/15/2014 12:47 PM Report Abusive Post Report Copyright Violation | I do hope we get the final washout soon. I mean, just look at the long-term chart. This move down looks totally incomplete. Massive quick impulse down, then a long consolidation and then we simply start a new bull market and move back up? That makes no sense. It just doesn't look right. Quoting: Anonymous Coward 64095335 We need to destroy the remaining bear energy/momentum by wiping the slate clean, it's as simple as that. And that will supply new powerful energy for a new strong bull. Too many stubborn bulls have still not given up and that needs to change. I really hope gold doesn't move through $1250 with ease or we might chop around like this for even longer. It's been long enough already if you ask me. Couldn't agree more. |
Punk-A$$ets
(OP) User ID: 30559668 United States 10/16/2014 06:43 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 64082931 Romania 10/16/2014 06:52 AM Report Abusive Post Report Copyright Violation | |
Punk-A$$ets
(OP) User ID: 30559668 United States 10/16/2014 06:56 AM Report Abusive Post Report Copyright Violation | Can you show a single example of a speculative bubble not deflating all the way eventually and staying there? Quoting: Anonymous Coward 64082931 Can you rephrase? Since I am not clear about your question I will address it both ways. I think this one directly answers your question: Both gold and silver would be perfect examples of bubbles that reflate over and over. Gold even went on to much higher highs. In 1970 gold was $35 and ran to $877 by 1980. It then made a low of $255 in 2000 and went on to brand new highs of $1923 in 2011. Silver was $1.60 in 1970 and went on to $50 in 1980. It then made lows under $4 in the 1990s and then made another high around $50 in 2011. The opposite speculative one offs were the ridiculous prices found in the Tulip mania, baseball cards and cabbage patch dolls just to name a few. Last Edited by Chucklebutt on 10/16/2014 03:42 PM |
Punk-A$$ets
(OP) User ID: 30559668 United States 10/29/2014 02:55 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 64685756 Germany 10/30/2014 05:54 PM Report Abusive Post Report Copyright Violation | I do hope we get the final washout soon. I mean, just look at the long-term chart. This move down looks totally incomplete. Massive quick impulse down, then a long consolidation and then we simply start a new bull market and move back up? That makes no sense. It just doesn't look right. Quoting: Anonymous Coward 64095335 We need to destroy the remaining bear energy/momentum by wiping the slate clean, it's as simple as that. And that will supply new powerful energy for a new strong bull. Too many stubborn bulls have still not given up and that needs to change. I really hope gold doesn't move through $1250 with ease or we might chop around like this for even longer. It's been long enough already if you ask me. Turns out I was correct. Gold bounced off the $1250 resistance zone and is now headed down hard with massive momentum. That's what this bounce was good for: To create downward energy. This shouldn't come as a surprise especially because the last two COT reports have been absolutely ugly. Specs have added an insane amount of new longs on barely any price move and commercials did the exact opposite. You know what that means, someone is about to get slaughtered badly (already happening for the past 2 days). If things get really ugly now that we have already broken $1200 today we could crash $1180 as early as tomorrow (heck, even tonight?), otherwise we will probably do so next week. You know, it's Halloween tomorrow, so wouldn't surprise me if Gold was "sacrificed" that day. Either way, it's a done deal that we will finally break that old stubborn support, you just need to look at the chart to see that. I love Silver's action as well because it's been kinda quiet/resilient for a while now, but today it got taken down hard to new lows. Really didn't expect that. Anyway, this is about to get really fun to watch. |
Punk-A$$ets
(OP) User ID: 30559668 United States 10/30/2014 06:33 PM Report Abusive Post Report Copyright Violation | I do hope we get the final washout soon. I mean, just look at the long-term chart. This move down looks totally incomplete. Massive quick impulse down, then a long consolidation and then we simply start a new bull market and move back up? That makes no sense. It just doesn't look right. Quoting: Anonymous Coward 64095335 We need to destroy the remaining bear energy/momentum by wiping the slate clean, it's as simple as that. And that will supply new powerful energy for a new strong bull. Too many stubborn bulls have still not given up and that needs to change. I really hope gold doesn't move through $1250 with ease or we might chop around like this for even longer. It's been long enough already if you ask me. Turns out I was correct. Gold bounced off the $1250 resistance zone and is now headed down hard with massive momentum. That's what this bounce was good for: To create downward energy. This shouldn't come as a surprise especially because the last two COT reports have been absolutely ugly. Specs have added an insane amount of new longs on barely any price move and commercials did the exact opposite. You know what that means, someone is about to get slaughtered badly (already happening for the past 2 days). If things get really ugly now that we have already broken $1200 today we could crash $1180 as early as tomorrow (heck, even tonight?), otherwise we will probably do so next week. You know, it's Halloween tomorrow, so wouldn't surprise me if Gold was "sacrificed" that day. Either way, it's a done deal that we will finally break that old stubborn support, you just need to look at the chart to see that. I love Silver's action as well because it's been kinda quiet/resilient for a while now, but today it got taken down hard to new lows. Really didn't expect that. Anyway, this is about to get really fun to watch. I'm so excited I can barely contain it. lol What amazes me the most is how similar the pending breakdown pattern is to the last one. The only thing we need now is that waterfall. The way miners gave in today it sure seems gold will indeed breakdown VERY SOON. BRING IT ON!!! |
Anonymous Coward User ID: 64696571 Germany 10/31/2014 01:00 AM Report Abusive Post Report Copyright Violation | It starts, heading to $1190 now. Something just hit the lines (afaik BOJ extending QE?) and USDJPY is taking out major resistance at 110 - this is really bad for Gold... At this rate we could easily be at $1180 in the morning... there we will probably be another bounce, but this time it will die within hours. Watch and see. |
Antipodean
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Antipodean
User ID: 60752652 Australia 10/31/2014 04:02 AM Report Abusive Post Report Copyright Violation | well that was insane! I was watching the chart when it happened, crazy, unfortunatley i made a rookie mistake and had setup a few trade orders a while back to hit when it broke 1180... unfortunately I set them to buys instead of sells, so all my profits in the dip were wiped out in an instant haha damn Anyway, so what are everyones targets for a bottom now? PUNK - are you still Looking for $900-$1100 for gold to bottom. $14-$16 for silver? |
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Punk-A$$ets
(OP) User ID: 30559668 United States 10/31/2014 06:54 AM Report Abusive Post Report Copyright Violation | It starts, heading to $1190 now. Quoting: Anonymous Coward 64696571 Something just hit the lines (afaik BOJ extending QE?) and USDJPY is taking out major resistance at 110 - this is really bad for Gold... At this rate we could easily be at $1180 in the morning... there we will probably be another bounce, but this time it will die within hours. Watch and see. Its finally here. $1172 now! Thank God. Like watching paint dry. |
Punk-A$$ets
(OP) User ID: 30559668 United States 10/31/2014 06:55 AM Report Abusive Post Report Copyright Violation | |
Punk-A$$ets
(OP) User ID: 30559668 United States 10/31/2014 06:57 AM Report Abusive Post Report Copyright Violation | Hello all. Quoting: Antipodean Fascinating. OP - just letting you know I subscribe to this thread, so I'm reading whenever you think you're talking to yourself! So is this it then, the final washout huh?! Thanks! Its the beginning of a decline that should lead to AN AWESOME BOUNCE! We'll have to see how this one plays out. Its been amazingly similar to the last time we broke down but its hard for me to believe its really that easy to figure out. |
Punk-A$$ets
(OP) User ID: 30559668 United States 10/31/2014 07:00 AM Report Abusive Post Report Copyright Violation | well that was insane! I was watching the chart when it happened, crazy, unfortunatley i made a rookie mistake and had setup a few trade orders a while back to hit when it broke 1180... unfortunately I set them to buys instead of sells, so all my profits in the dip were wiped out in an instant haha damn Anyway, so what are everyones targets for a bottom now? PUNK - are you still Looking for $900-$1100 for gold to bottom. $14-$16 for silver? I was out all day yesterday and missed the entire trade. Oh well. Yes, for now, those are the numbers I am looking for but its hard to say how we'll get there. In other words, it may not be straight down although that would be the best way to create an incredible bounce. |
Punk-A$$ets
(OP) User ID: 30559668 United States 10/31/2014 07:02 AM Report Abusive Post Report Copyright Violation | |
Punk-A$$ets
(OP) User ID: 30559668 United States 10/31/2014 07:06 AM Report Abusive Post Report Copyright Violation | I know. I've been a bear since we broke down through the $1550s for the 3rd time. I got chased out of turdville for being a bear. they skineed me over there. lol I learned a lot back then. From what i've gleaned a triple bottom is incredibly bearish. These die hard gold bugs are relentless. I dont know how they can be so bullish just yet. |
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Punk-A$$ets
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Punk-A$$ets
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Anonymous Coward User ID: 64855153 Germany 11/05/2014 01:51 AM Report Abusive Post Report Copyright Violation | I know. I've been a bear since we broke down through the $1550s for the 3rd time. I got chased out of turdville for being a bear. they skineed me over there. lol I learned a lot back then. From what i've gleaned a triple bottom is incredibly bearish. These die hard gold bugs are relentless. I dont know how they can be so bullish just yet. I know man. After reading rambus earlier this year I finally got to my own point of recognition. I love gold and silver, so I am always a long-term bull, but I finally let go (after losing money for so long) and got in harmony with the market. It really feels like harmony now, just right. And suddenly the charts behaved as I felt they would and I made money. I don't follow any of these perma-bull sites anymore, it's just a waste of time. Like Martin Armstrong keeps saying, none of this shit matters, because what we are going through is just a natural correction. That's how all things work in nature. It's all cyclic and you can't just go up forever without taking a break. When the PMs have really wiped out every remaining bull that's when we will go up again, regardless of whether there is QE or not or any of that other nonsense that's used as an argument for why gold should go up right now. It really is like none of the noise on the news even matters. Long-term gold will be the only real thing out there (and the only thing left standing I guess) and that's why it will keep rising, but none of that matters at this point. A correction was overdue and we got it. It's like in nature with survival of the fittest, it's just time to kill every useless eater so a new strong and healthy bull can emerge. :D |