Thursday conventional market and precious metals commentary
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I agree. As boring as yesterday’s interview with Gary.
Oh common, can’t we just move on from that?
I think the questions are great! But maybe Gary is fed up of talking about gold every day. It seems he’s more interested in other markets.
Probably as more of us should be at this point in time. I mean I am coming to the conclusion that just maybe right now it is enough said!
What do you all think?
Agree. Lets cut Gary some slack. He has been pretty insightful lately. Keep up the good work Gary.
Thanks Bird!
The Fed won’t let this bull market die for some time. There will be a correction (~20% during June/July timeframe) but SPX should get to at least 2050 before it’s toast. If you want interesting in gold you should see that tomorrow with the March Jobs report. The question is which way will gold go from here. Comments from Gary, Doc and Rick (as well as others) should be insightful. Someone should be right.
Forgot to mention this earlier Mike, great to have you as part of our family!
Gold is in an intermediate down trend. Me, Doc and Rick have all told you the same thing. When I think it’s ready to turn I’ll say so. But other than a short term bounce I don’t think gold is going to put in an intermediate bottom for at least another 3-4 weeks and maybe longer. I need to see how the next leg down develops after we get the bounce.
My understanding is that over-production of anything will make it cheaper, such as paper currency. Any attempt to defeat the law will fail without exception. Otherwise countries can get rich with printing money only. Not so easy. As long as we are patient, the day will come. Who care it will be one year or 10 years. Holding on to your gold. You will win.
I always enjoy Gary’s thoughts, and honestly this wasn’t a very active day and tomorrow with the jobs numbers will be more interesting. If you don’t want to listen to a speaker then don’t listen, but don’t bash them when you aren’t helping anyone get a better vantage point.
Dress, Hal, B, SEB. It’s pretty obvious they are all the same person. Clearly he has only one agenda and nothing anyone says is going to stop him. I just ignore him.
Like JJ said yesterday. He’s irrelevant.
Well, I’m just me. Would have been interesting what Dress, B and SEB had to say if they had seen your comment. But maybe you are irrelevant? Hope the others will show up and tell you what they think. This would be very interesting.
Ironic a man who has at least two identities – Gary Savage and Toby Connor – accuses others having multiple identities. Funny. 🙂
And as we all learned the last days it is you who posts under different names here. Don’t accuse others doing the same because you don’t like what they have to say.
As I have said for twenty years Shad, I listen to everyone and then make up my own mind. That really makes sense to me.
IMO the SPX won’t make a top (at ~2050) until late this year, maybe early 2015. If Gary’s correct and gold won’t bottom until equities top, we have a long time to wait. Regardless I’m following Gary and Doc’s forecasts and while both are bullish long-term (6-12 months) in gold, Doc get’s bullish by around the end of April and Gary seems to get bullish in the June/July time frame. I think that will be when the SPX is putting in (at least) a 10-20% correction. Although, I don’t think it will be “the” market top. We shall see.
There was a lot of printing over the past months.
We know that banks hoarded a great deal of it, maybe they are moving into the markets.
Yes they did b. Banks and other institutions have been flooding this market with money thats why it has been going straight up since QE began. There is some mixed opinions as to when they pull the trap door open and exit the market. Since there is not even a hint of inflation out there, QE is likely to continue for a few years. Mkt could be making new highs 3 years from now without a major pullback. The labor mkt is not very good and the economic deflationary spiral of 2008 has not been curtailed yet….but the Fed is making progress.
In what sense?
inflating.
That is probably the case, b!
The Fed is making progress in terms of making savers and Gold bugs suffer. 🙂
Just move on. Nothing to be seen here. We are moving sideways.