The Doctor is In and Commenting on the drop in the price of gold.
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Doc feels a bit differently than Gary in that he thinks it will take gold awhile longer to rebound.
What do you think?
TOM……Dust at $50 ………..WOW IM RICH…I have a whole house full of it…..
BTW is that per gram , or ounce………..Ha
As oversold as gold is right now, it’s hard to think we won’t see a bounce up this week. However, if gold continues down this week, it certainly puts pressure on the crimex.
At least it’s finally getting fun and tradable.
Doc – I know you’ve been following Yamana. Do you think it may have further to fall yet before there is a snapback? It is starting to look a bit too oversold on the RSI and Slow Stochastics, but the MACD is not confirming yet.
Shad, it’s tempting on AUY—I wouldn’t be surprised if it snaps back sharply with gold but I believe it’ll move down further yet even if it does. I might attempt soon to buy some for a trade but I believe the move down is not over.
Anyone give any credence to Clive? His latest seems as bearish as any. http://news.goldseek.com/CliveMaund/1437398220.php
That is actually a very interesting article Silver Dollar. I am not sure I agree with him that the US Dollar is going to 120, but do agree that 98 is a congestion zone, but he didn’t even discuss the 100.39 March 11th and March 13th double top as resistance, and I just don’t know if I see much more than a temporary blow-off move up in Sept in dollar and not a prolonged run up. I also think the Canadian and Australian dollars are a bit oversold, and will bounce while the dollar takes a breather in the short-term. This will allow for the temporary bounce in PMs as well.
Clive did have some interesting thoughts on commodities, Oil, Copper, etc.. and some good charts and thoughts to consider.
Thanks for posting the article to mull over.
I have found him hit and miss over several years of reading his articles.
I don’t think he mentions what will happen to conventional stocks in that article if his theories prove correct?
In March’s temporary low, NUGT did nearly 200 million shares in volume that week. Today we are already approaching 60 million shares.
Good point. This has me leaning even more that Gold miners are getting close to a counter-trend relief rally, and may lead the metals back up into early August.
You may need to use google translate.
Although the EU had a plan for Grexit, it seems to me we are about to have more and more street violence in Greece.
With 27% of the Greek economy already estimated to be off the books, the 10% VAT tax impose on foods today will cause increasing unrest.
Since much of Greek produce is sold at farms, on market stall, etc., in places not used to collecting VAT it could well be that the actual tax on food will fall far short of estimates.
It is probably only a matter of time, regardless of ECB or EU decisions, that Greek politicians do the only logical action and drop out of the Euro and start using the drachma.
I THINK you are correct ………on “it seems to me we are about to have more …street violence..”
with a 10% Vat tax on food………..I bet you will see more victory gardens…… 🙂
more than one way to skin a crooked politician……
It’s meat and dairy goods that are a problem, in a country which consumes less meat than most of the rest of Europe as it is.
You are going to see a lot more pet goats……………..
or house watchdog pigs……………
maybe even chicken alarms and or even no tress pass yard geese……
Or aquariums and roasted Goldfish.
The ending diagonal is still in play.
Agree with a bounce for a wave 4 and final leg down for a wave 5…
Overthrow and we get 1069.
Higher if we get a truncated wave 5.
https://www.dropbox.com/s/u22k2fydgwru5zx/GOLD%20SHORT%20TERM.png?dl=0
If Greece drops out of the Euro, the Euro should increase in value.
a few state wave 4 low is done and we are on the cusp of wave 5 up….
wave theory sure is complicated
Agatha,
I agree with you. Shure we are in an ending diagonal.
I was talking of a wave 4 and 5 of a lower degree down …
It is a possibility that we are actualy in a Higher degree wave 4 down with a target
around 1050 (Gary) and 1069 (me) … :).
New targets:
Update results (for the low of wave v of 4).
1 1067.40
1.382 1004.34
1.618 965.38
2 902.32
On April 24, 2014 at 7:40 am,
Irwin says:
I have some stink bids that AREN”T going to get filled at this rate.
Just for fun … I’m calling for gold $1,089.50 before Dec 31/15
http://www.kereport.com/2014/04/23/capitulation-phase-gold-gary-thinks/#comments
-and that’s all I have to say about THAT.
Irwin.
Gold hit 1072 today. 😉
You were right on your prediction. 🙂 🙂 🙂
Best,
LPG
Really? I wasn’t even aware it went that low!
Come on $817 …
Good call Irwin.
Final thought and commentary for 2015
There will be no meaningful snap back
They have complete control of the gold market
More carnage to follow
As I’ve been saying silver goes all the way to 4 to complete the round trip trip
They are dead investments and bankroll killers
Trade them if you must but good luck with that fools errand
Happy hunting for the rest of 2015
I’m off to Saratoga
Specially for James….
good one Andy……………..
Eventually market forces prevail. James Turk on KWN…
James Turk is a shill. He has an agenda and he is pumping it.
As my late father used to say, “look for the larceny, not the logic”
Trust no one now.
It was a classic pump and dump
Your father was a smart guy, James.
Or James as the good book says: Trust no-one!
Doc,
You are right about XON. It seems Apple of biotech for long .
What you think about XON? it break out IBD fashion. Do you have more recommendation like XON.
Much appreciated!!!
Thanks
I wonder if DUST will get to $50 this week