The economy is getting better IS A LIE.

Big Al and all: The lessons for today…IMHO.
1. The floor has been set in the metals: Approx. 1500 – gold; silver – 26.50..period.
2. The metals will grind back and forth, UNTIL they eventually break higher.
3. The fundamentals are so OVERWHELMING STRONG – this is pretty much set in stone.
4. People can complain and cry all they want, doesn’t really help much.
5. I have learned A LOT about patience and perseverance during these times
6. I will stay with the UP TREND until my research and DD says otherwise.
7. Gold is for emergency reserves and liquid cash.
8. Silver is for investment and will not be touched until something close to FULL VALUATION has been accomplished.
9. I will continue to learn and grow (from you guys) and do the best I can.
10. ALL THE BEST and continued peace and prosperity in all your future endeavors.
Marc 🙂

Remember one of the first thing the Big Zero did, on taking office, was to cancel the waste storage facility being built at Yucca Mountain with $12 billion already spent and 1/2 billion running cost to compensate utilies.

http://www.zerohedge.com/contributed/2013-04-05/suddenly-no-solution-56-million-gallons-highly-radioactive-toxic-waste-leakin

This is good article from Richard Knowles about price Gold and one of the reasons
for going down .

http://talkdigitalnetwork.com/2013/04/was-this-dip-in-the-markets-expected/

After listening to Rick’s assessment I am also waiting to see if Doc concurs and if so I will be sitting tight for now. Thanks Al for continuing your updates with these technical guys. DT

TTMN, the TSX Mining Index opened then dropped to 820 from 834 and is now at 843. The 3 day, 5 minute chart looks pretty good. Due for a pullback. IMHO Canada is not the boogie-man (tar-sands) in the world any more and our market is flashing a buy signal. Do or die trying!

Thanks Rick A, looking for a bull trap also.

Dan

Graphically, this is what Rick is saying:
http://www.247bull.com/wp-content/uploads/gold-3-April-2013.jpg

But I don’t care. I think he is wrong, but right or wrong does not make a difference to me. I’m not selling, now or one year from now.

As stated yesterday we witnessed the bottom in gold when it hit $1538, didn’t stay down there long at all and then quickly took back $1550. Today’s horrific jobs report, which was telegraphed easily with the adp and claims numbers was a no brainier. Today is a game changer. It should put to bed once and for all that we are not in a recovery and ever have been. We are in a deep and long recession that might even be, or will become, a depression. It should also put to bed all this nonsense the FED heads and the CNBC cheerleaders keep shoveling about how the economy is growing enough to start scaling back QE. This is complete lies. Today’s job report left the CNBC commentators looking like dear in the headlights. SL face looked like he was just punched. JC looked like he was about to cry. They cannot stop QE but no matter how much money they print it will not stop this deflationary death spiral. Gold is the only place to be. The bears are about to get slaughtered. This secular bull market in gold has slain many a wannabe gold bear who either missed the great bull run or tried to make a name for himself calling a top. Will today’s number start to feed on itself. If so then next months could be just as rotten. They will try to blame the republicans and the sequester. The blame falls squarely on the Keynesian comrades led by our kid president who either have no clue how basic economics work, or do know, and were only looking after their own self interests. I choose the later. So where do we go from here. Bernanke will continue full speed ahead with QE, unless or until it becomes apparent to everyone that it is no longer working or getting the bang for the buck. If public opinion forces him to stop then all bets are off. Until then it’s full speed ahead…$2200 minimum…

Big Al, I dont know what to think! so I’m just going to shut up and watch the months tick by. Meanwhile i will post to get your hit numbers up! 🙂

QE will never stop. It can’t. Central banks just say they can stop to scare the goldbugs and silverbugs. QE genie is out of bottle and cannot be but back. Best

Al, your team is for my money by far the best on the internet now with Doc and Rick and Rog, whether they agree or not.
I have also been wondering like Doc about the gold bear that we have been having lately, that it seems to indicate deflation in the wind and why would the Fed want to have people fear deflation right now? Rick has been quite a deflationist so maybe his forecasts of further drop in the precious metals might be part of that thesis? What do you say. Rick?
We had a nice bounce today but if I was one of these perpetual buyers who have come in at $1550 time after time, I would step aside on one occasion to see if I could get my next tranche of gold a bit cheaper! I kind of wonder why they came in today, perhaps it wasn’t the fundamental buyers but the speculators instead today – on the economic news, maybe the gold shorts got an attack of cold feet.

Silver looks pretty bad to me. All this optimism when we are 50% off the 2 year high is a bit disconcerting.

People have been shouting a higher PM price and stock bottom for almost 2 years, and every time we have seen a further decline.

Some pause might be warranted here.