You can tell Yamada is still a long term bull for gold and silver but ... "Until further technical evidence suggests otherwise, Yamada believes the gold market remains bearish: "... technical arguments thus far suggest Gold is simply experiencing a bear market rally." The same situation exists technically in the silver market according to Yamada: "A trading range between 20 and 25 could develop as a period of repair for Silver in what currently represents a bear market rally." http://kingworldnews.com/kingworldn...astic_Gold,_Silver_&_Mining_Share_Charts.html
It's just the paper represented gold getting out. That's good news isn't it? Better to stack when the temp buyers are out than in.
I have finally worked it out.....with all these emotional extremes it is obvious that the type of bear market we are currently experiencing is actually the little known bipolar bear market....very rare.
if its a bear market is that not to our advantage for long term? if I was was always playing the buy sell buy sell then I would be pissed! I am not though so I don't even care. I didn't have the 100,000 to invest all at once so ill buy some here, some there. In hopes that it doesn't shoot up till we are all fat and full. just my position, as entertaining as it was to watch from 900-1800.
I put little store in what she says. I have heard her comments for some time over the past years and they lack insight. Rick Ackerman is a better technical expert on PM. Bear markets get bull markets and we are now flying through a flock of black swans. We may have just avoided the Syrian swan but many others lie ahead. Next week is the FOMC meeting and Ben's last major meeting. If they Taper (reduce rate of increased spending) we will see metals fall further..... until the markets sense the fall in free cash. then we reverse taper a month or two later. Or they don't taper (less likely) and we continue. All these games are simply a distraction to what is inevitable collapse of the US$ based fiat system. I cannot see a way out - can anyone seriously see a solution ahead in defiance of 5000 years of history ? It may take 12 months or 24 months or 36 months but it is inevitable as the sun rising tomorrow. Just my opinion .....................
I don't believe their is a predictable, significant influence on pm spot based on Fed QE. Looking at the historical charts since 2008, the answer is decisively no, there is not predictable, significant influence. Of all the expert opinions on pm's that I've read or viewed interviews of, a third claim that Fed stimulus signals up trend, one third claim it signals down trend, and the other third say no meaningful predictable affect. .
Gold has popped decisively through $1350 on big institutional selling today, so its downwards from here on. Bigger falls to come from now on, the only question is: how fast?
Maybe, then maybe not. The support is $1340 and then $1320. Next week is surely going to be an unpredictable ride with Bernanke and the lack of taper. I am not sure this is going 1 way. I have no doubt the will be an effort to smack PM down before the FOMC meeting as is the usual plan. Then things may get interesting as Bernanke trips over the taper.
I'm sort of feeling like it could be an opportunity. Must be hormonal. I was struck by how explosively the ASX gold stocks of any merit appreciated in price from early July, as optimism about the gold price dawned post the late June low of US$1,180. From early July to late August, less than 2 months, a number of ASX gold stocks roughly doubled. My trade this time would probably be Saracen Mineral Holdings (SAR), which I don't yet hold. Saracen slightly more than tripled from 10c at July 9 to 30c and a bit on August 26. Phenomenal. What if that late June gold low holds, but there is still a strong whack to gold which causes gloom to settle again? The selling of gold stocks, already strongly correcting, would be fierce. Then there'd be a swift recovery if the June gold low is seen to have held. If you buy right there's the chance of selling half and having no cost for the remainder. Traders like those sub 20c stocks. Just a scenario that I think is still consistent with Louise Yamada's suggestion that the bear market is still in effect. Doesn't necessarily mean that the low has not been made. [imgz=http://forums.silverstackers.com/uploads/1893_sar_sept_12.gif][/imgz]
I am happy you follow the big money. I follow the small moves that predict big moves and to me this looks like a fake job and we could very well hold at $1320. The big money that is the real money is not selling gold believe me.
There's no evidence at all that I've ever seen anyone present that Fed tapering predictably results in spot price dropping. The spot price is affected by many variable in different ways and to different degrees. While I do believe that if the Fed tapers spending that this will tend to increase spot silver/gold to some degree, I know that it's not the only reason the metals will move. I believe there's a danger in holding onto these myths (such a Fed tapering predictably results in large drops in spot prices). The smarter thing to do is to look at as many possible influences as possible and don't worry too much about signals from the Fed of tapering. That's just a suggestion from someone who used to hold unwavering faith in such things as well. .
Well, they haven't tapered yet and the price has tanked just on the basis that they might taper, what else do you want? The price of gold has been supported by money from the Fed. Take it away and you can be 99.99% sure what gold will do. Down another $20 today, seems the big money was right again. DUST, DZZ doing very well. Seriously, don't fight it, just follow the wall of money and you will make money instead of sitting on the sidelines wondering what the hell is going to happen next. Just jump on board for the ride. Of course its a gamble, but with odds like these, why wouldn't you take a punt?
really so they are saying it will remain pretty flat (20-25) for the foreseeable future now where have I heard that before
Sounds like these predictions: This `telephone' has too many shortcomings to be seriously considered as a means of communication. The device is inherently of no value to us. (Western Union internal memo, 1876) Radio is just a fashion contrivance that will soon die out. It is obvious that there never will be invented a proper receiver! (Thomas Edison) I do not believe there is the slightest chance of war with Japan in our lifetime. TheJapanese are our allies.... Japan is at the other end of the world. She cannot menace our vital security in any way.... War with Japan is not a possibility which any reasonablegovernment need take into account. (Winston Churchill) We don't like their sound. Groups of guitars are on the way out. (Decca Records Rejecting the Beatles, in 1962) And while I am talking to you mothers and fathers, I give you one more assurance. I have said before, but I shall say it again: Your boys are not going to be sent into any foreignwars. President Roosevelt And the best for last related to stock markets : "STOCKS HAVE REACHED WHAT LOOKS LIKE A PERMANENTLY HIGH PLATEAU" Considered by some to be one of the first "celebrity economists," Irving Fisher was committed to the idea that the market was inherently rational, efficient, and self-correcting, which lead to his infamous declaration that the 1929 stock market had reached its "permanently high plateau" three days before the global economy abruptly fell off said plateau. Fisher spent the next few months assuring everyone who was still listening that a natural turnaround was just around the corner before giving up on that idea to promote the somewhat more acceptable theories of vegetarianism, alcohol prohibition, and eugenics. Fisher's theories of debt deflation and neoclassical economics came back in a big way in the 1980s and emphasizes the sound theory universal truth that there was a sucker born every minute.
One small problem. If the Fed is buying well over 100% of all new T bills issued by Treasury ( has for the last months) how are they going to taper and still mop up all the T bills? If treasury auctions are held and there are no buyers ----watch the bond and US$ tank. No way can they taper in fact they must increase purchases. I can't see how they can taper!!!!
