Trader Rog responds
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manipulation can go on longer than we can plan for. the point here is to not get scared out of your positions. just hold on for the duration what ever it takes in this s#*t storm and you will come out ahead! ever heard of “sit on hands”? i am selling nothing! sit tight & be right! dw
Agree!
Along with what Matt R commented, I definitely agree with you dw jones.
Thanks for weighing in,
Big Al
But we’re fighting the Fed remember.
Something like that, Barry
Big Al
Thanks Bobby,
I read it and the opinion was not very strong, in my mind.
Best,
Big Al
I agree, where do these guys come from???? The problem is, this is a highly respected business publication read world wide. People act and react on what is printed there, just like they do when it is stated on cnbc and bloomberg tv.
Bobby,
Barrons?….buyer and reader…beware…especially during these times!
No one has a crystal ball.
I do notice a weekly tendency, however. Every Monday there is usually a small knock down first thing in the morning. Every Friday there is usually a strong knock down. Both are obvious signs of manipulation. The Easter weekend appears to have disrupted the pattern slightly; the markets being closed in London on Monday, they have chosen Tuesday for a knock-down. Further, I believe the scarcity of physical, is leading to a larger panicky knock-down. Unfortunately, this will probably lead to selling by weaker holders and the manipulators will win this round.
But, not the war cfs!
Big Al
TR, you are very humble, thank for your honesty and straightforward commentary.
I second that.
I think the gold bull market is over for a while, like it took a mid-1970s break from 1974-76 only longer. Therefore it requires much more capitulation than previous interim bottoms between 2001-2010. Perhaps funds going net short might be a signal?
There is little or no rehabilitation of the gold price in this correction; the price again is STILL in the bottom quartile of this correction’s trading range between $1520 and $1920. It is quite DISMAL preformance. I disagree with Trader Rog, the major correction is NOW. Look for more disappointment and then , when we are all out, the price will go to $8000.
I have been involved in gold and silver longer than anyone here, I started in 1960. I held on to $13.00 silver thru its rise to $49.00 and fall back to $3.00 or whatever for more than 20 years before I got back to even. I have sold fewer than 10 silver coins in my lifetime (due to a large premium at the time) and NO gold. We will get thru this, and it will not take 20 years either. Personally I did expect much higher gold by now, but, it has not happened. I also expected to be able to make more than 1% on my lifelong savings, that did not happen either. One thing I do know it that I can trade my 1964 dime for a loaf of bread and jar of peanut butter or a half gallon of gas. Sometimes thing do not happen as quickly as one would want or expect. I now expect what Gerald Celente has forecast.
My thanks to you also, Bobby!
Big Al
Bobby,
Thanks for putting a level-headed comment…amen!
Think Jim Rogers said this Gold Bull market was unusual. Usually a bull market has a 30-40% correction every 1 or 2 or 3 years. Hope I got that right. If not. Apologies Mr. Rogers.
Good Afternoon Mr. Feibish,
I had a lengthy discussion with Jim on this subject one evening in Germany when he and I and Kathy were enjoying some great wine. This, by the way, was about 7 -8 years ago.
Jim stressed to us that he felt the duration of this particular market would last until 2017. So far he has been spot on!
Best to you,
Big Al
Sinclair is suggesting that the gold knock-down is simply taking away the warning signal for a pending currency collapse, to be followed by a new world order currency.
http://www.jsmineset.com/2013/04/02/system-designed-to-collapse-ahead-of-new-world-currency/
Certainly a possibility CFS
Big Al
If there is a new world currency it will have no gold backing at all. Any one world currency won’t have to have any backng and will be able to be inflated at will by a world central bank and a world government. Why? Because there will be no alternative. What other currency can you use? You would have to move to Mars and use Martian dollars! Final aim is single world FIAT currency (and probably cashless society thrown in for good measure).
See the Mises.org website and look for:
The Euro Currency in the Light of the Progression Theorem Thorsten Polleit Austrian Scholars Conference 2012 , Thursday, March 08, 2012.
In such a scenario, gold would not play a role, not even in reserves. Who would need it. You need gold reserves only in a competitive currency system like we have now, where you have to have relative confidence in your currency against someone else’s.
Good point Silverbug Dave
Big Al
from Ted Butler (on Silver):
“Simple math shows that JPMorgan held 96% of the total commercial short position of 24,000 contracts in the latest COT report. I doubt such an extreme measure of concentration has ever occurred in any other regulated futures market. On this measure alone, it is safe to conclude that JPMorgan has manipulated the silver price in the last month(s), as there would be virtually no commercial short position in COMEX silver without this bank.”
http://goldsilverworlds.com/gold-silver-insights/the-great-disconnect-between-paper-physical-silver/
Update rec’d from expected returns:
Gold has finally experienced a more substantial correction into the $1575-$1580 range, which is the trend I’ve been warning about. Even though we have a perpetually weak global economy, draconian bank measures in Cyprus, and capital flight in Europe, gold can’t muster a rally. This is a bearish signal you must recognize while pushing aside any biases you may have, however subtle.
For several months gold was trading near breakout levels of $1650, but failed to breach those levels. Gold is now in a new trading range that makes a rally to new highs even less likely anytime soon. Money is pouring out of gold ETFs and into general stocks, and it will take some time for general investor psychology to change. Be patient.
[gold.4.2.2013]
There are warning signals everywhere that we are going to see an implosion. Japan is a mess with their trade deficits and weakening currency. Europe is obviously in shambles with higher tax rates and unilateral confiscation of deposits in Cyprus. Here in the U.S. we have increased taxation, which will have very serious negative consequences after Europe falls, and we are now facing a rising dollar/deflation.
Remember, things that are obvious in hindsight aren’t obvious while they are happening. Hedge funds related to housing were blowing up in 2007, but people just brushed it aside. The housing market peaked in 2006. Our biggest problems lie ahead, but there needs to be the proper setup. Capital inflows from abroad are masking fundamental problems in America by boosting assets. Once the dollar starts rising, all bets are off and our economy will be exposed.
Disclaimer: 1. This newsletter is for informational purposes only. I am not a registered investment advisor and I am not responsible for any actions taken by subscribers.
Gold commentary:
http://silver-and-gold-prices.goldprice.org/2013/04/with-gold-price-down-16-and-goldsilver.html
Ted is an
Interest man and I need to get him on our show.
Big Al
Franklin Sanders, “the moneychanger” also called for a silver for gold swap today.
Again, thanks Paul L
Big Al
http://blog.milesfranklin.com/monthly-gold-price-chart-since-2001
I’m staying put, happy to be in PMs. And while not everyone believes there’s manipulation going on, I think it’s obvious and should be taken into consideration. There’s no reason for the metals keep getting smashed down on negative economic news.