Week ending commentary from Gary Savage
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Gary chats about the weakness he is seeing in the gold market while the conventional markets continue higher. He also touches on the fall int he miners today.
GOLD WILL GO UP AND UP AND AWAY !!!!!!!
1000 $ GOLD NEVER NEVER NEVER !!!!!!!!
GOLD IS A BUY BUY 1000 1500 NO CARE BUY !
franky…….I love you . X
[…] here Written by Gold […]
Gold may or may not drop to $1000. If one waits for $1000 to save $300, he may miss the bottom, and it’s going to be very hard to buy higher, and he will miss an up leg, and he may miss the opportunity to make a fortune altogether! Think about it. If gold makes a 10 fold run from here, what will silver be? What will miners be? Why waste time to save $300?
YEP…DITTO….EXACTLY…..SPOT ON….BINGO…..need I say more Gold Bug!
Gold bug,
Your kidding right? A $300 drop is a 20% draw down. I don’t know about you, but most people would consider a 20% draw down scary as hell.
Now let me address the idea that if one doesn’t risk a 20% draw down now they will miss the move. Again that is ridiculous. I’ve clearly shown the upside line in the sand. It’s at $1361. As soon as gold hits $1362 you buy. You would miss 6% by waiting.
Considering that gold is almost certainly going above $5000 and maybe even above $10,000 before this bull is done, isn’t it worth missing 6% to avoid a potential 20% draw down when the upside potential even after missing the 6% is in the multiple hundreds of percent?
If you buy at 1361 and gold drops to 1280, are you going to sell or hold? If you hold you will end exactly where yuou are now and lost 6%. If you sell you’ve lost lost 6% for nothing. It can happen again, again, again and again. How many 6% can you afford to loose.
There is more to it than just two lines in the sand. It also depends on when those lines are crossed and how deep gold is in a daily or intermediate cycle.
For example if gold were to cross $1361 but do it on day 17 or later of a daily cycle then it’s too late to buy and you have to wait for the pullback into a daily cycle low before buying.
Gary…thank u, i am w u…..i see exactly what you are saying and when we get to 1030 or 1100 buy like heck!
and NUGT ect…
thank you…you will be right
I do not necessarily agree with Savage, however:
1) I bought gld and gdx puts
2) not sure how the imbalance of 165,000 december gold contracts get resolved in view of the 587,000 ounce on hand
longer term the US is insolvent and if not for printing capacity the game is over. The pieces need to fall in place but somebody please tell me the good news on how we turn this around?
Obamacare is bending the cost curve up–it “may” in the end turn the average cost per person down but there still is no such thing as a free lunch and now we hear Obama saying there are 40 million that need to be insured.
Cannot give preexisting for free- (standard rates) cannot take away lifetime caps on cost. Only a government with ability to print to infinity can do that will total disregard for the economics.
by the way–average cost per person accounts for most of the 40 million going to either free medicaid for them or a heavily subsidized policy.
please note that subsidies end at 4 times poverty level or in the 80k range
imagine the 4 person family-both spouses working earning 90k and see their premium go up by say 5,000 bucks to support others, a back door tax.
where do they dig up an extra 5k a year for that?
Valarie Jarrett is a key person behind all this. One experience with her and you would what I mean. She is the person no doubt who insulates the president. Heard her as keynote speaker at a lawschool graduation tell the graduates to chuck it and go into social service/public service.
we need experienced people running the US and we just do not have it.
Al, I don´t understand why you are allowing Gary Savage to give comments on your site. His trading record is lousy. His subscribers lost money in the past. I simply call him a sensationalist. Ask him please to send you his curriculum vitae.
Your profound German follower from the past.
All the best to you.
Anna/Kong,
You must not have followed me for very long. We made 100% and some people made 400% or better during the last C-wave.
From 2011 to last Dec. we were up 20%. Pretty darn good considering the volatile back and forth market. On January 24th I recognized that liquidity was not being allowed to flow into the metals and told everyone to exit everything except a 10% position in SLV LEAP’s in case the bottom came slightly late.
I called the exact bottom on June 28th.
I called the stock market going back to new highs last Aug. As a matter of fact my calls in stocks have been perfect for almost two years.
I called the top of the recent gold rally almost to the day on Sept. 3.
So I’m not sure what you mean by a lousy record. I’ve called the markets almost to perfection.
Could it be you are just making things up to serve your own agenda?
I have been reading Gary Savage’s analysis for quite some time and have formed an opinion concerning his credibility. Suffice to say that the most bullish thing I have read about gold for a long time is that Gary is now advising his clients to stand aside and be out of the market.
Stand aside until $1362.
To Gary Savage.
Following your investing recommendations since September 2010.
My agenda: checking your background.
Anna,
If you followed my recommendations since 2010 then you made 100% or more on the silver run. Since July 2011 to Dec. 2012 we were up 20%. That was documented by an independent source. On Jan. 24th I told everyone to exit all metal positions except a 10% position in LEAP’s.
I called the exact bottom on June 28th right here on Al’s show.
I’ve called the stock market perfectly for over two years.
I called the exact top on Sept. 3 and got all my subs out at the very top of the rally.
Heck I’ve even anticipated perfectly when the Fed would step in and abort stock market corrections.
I called the bottom in the dollar almost perfectly including the effect it would have on gold.
All this can be verified by listening to the interviews I’ve done here on Al’s show.
So I’ll ask again. How does one come up with this so called poor performance?
It took me one month to recognize that a bear raid was in progress last winter. That doesn’t seem unreasonable considering everything else that I’ve called perfectly.
What stores in CANADA sell gapihrc t-shirts with bold colors and cool designs? I really like the ones at Hot topic, but there’s no Hot topic in Canada.
As dillusional as ever….gotta love him
To Gary Savage (bis)
You wrote: “[…] Since July 2011 to Dec. 2012 we were up 20% […]”
Poor performance for a so called “trading expert”. I maintain the word “lousy” for your record Mr Savage and your past predictions were not so exceptional.
You belong to the camp of the rumour-mongers. That´s sadly what the internet is offering us! You will always find people delighted with your “results” and willing to pay for your “market expertise”. The last comment of “mike” is the manifest evidence.
But I must admit you are fabricating a very impressive story at the moment. The future will tell us if your “rubber band theory” call was right. We just have to wait.
My record is right here in the interviews. That pretty much speaks for itself I think.
Hi Gary- I’ve been following your gold advice since I read some of your interviews etc on Silver Doctors. I found you to be extremely accurate and helpful- thank you! Any thoughts on silver – both the low target to buy if gold goes down towards $1000 or the higher silver target of where to buy if gold goes to $1362? Thanks again for your insight!
@Gary Savage:
“I’ve called the stock market perfectly for over two years.”
That was a reason why you removed your performance tracking (model portfolio) from the front page and premium site, I guess, about a year ago, when performance started to approach zero.
I subscribed you at the end of the last C-wave (do they exist, BTW?) and lost 50% of my portfolio.
Anyone in doubt about those “forecasts”, look at http://smartmoneytracker.blogspot.ru/ one-two years back.
Any win is commented “As I predicted”, and any failure is explained as “Metals manipulation” etc.
You are doing business not on the market predictions, but fleecing your customers, which is OK, but good to know upfront.
If someone has made profit with Gary Savage service, please post your portfolio performance for, say, last 5 years.
It’s time for Big Al to big up. Gary be gone Al.
It’s hurtin’ your cred Holmes.
Yeah, “no matter how long it takes.” What a crock. After a couple of years of gains in the stock market, people like Gary are going to look like absolute fools. The market will crash, but not after a lot of people will go broke going for gold and avoiding the stock market. Good luck Gary with your silver leaps. Say goodbye to a good chunk of your wealth. Since your lame advice in your wretched newsletter cost me my wealth, I’ll be more than pleased to see yours lost. F**k you Gary.
LUK DISS GARY ! http://finance.yahoo.com/blogs/daily-ticker/yellen-sees-no-bubbles-stockman-sees-them-everywhere-140001317.html 88888888 !!!!!!!!