Martin Armstrong Jan 10th Gold Beware 1152 The Monthly Bearish Reversal lies at 1152 and the drop previously was to 1151.40. A monthly closing beneath this 1152 area will open the door to a further decline. The technical support lines up also with the 1980 high area of $875. The first quarter here in 2014 looks choppy, but thereafter, get ready for the increase in volatility. Even the oscillators show this ain't over yet until the fat lady sings as they say. Yet they never get tired of painting every sharp break as just another manipulation. I really do not understand if that is support to suggest that they are not wrong even though the price keeps pressing lower? To these diehards, it seems that gold has become a hedge against making money. Gold will have its day in the sun, but it is just not yet ready for prime time. It is still an off-Broadway show.
2008 low to 2011 high has 61.8 fib @ 1156ish at least worth a bounce if not the bottom IMHO AND A low of 1156ish to the high of 2011 puts the 50% fib @ 1538 (Strong res)
Armstrong has always maintained that the next big Bull run will not commence until late 2015. He is merely stating that if the Gold price falls below $1151 then expect further decline and people will lose money waiting. FWIW, I will not buy until he says so, he has been very accurate up until now. If you have purchased for the long run and have no reason to sell then don't fret, buy more in the next decline. "but whats with the 8-bit VGA colors?" That's his laptop where he keeps a very basic version of his software in case it's gets stolen.
Why wait for the decline keep buying .It may never happen.It will just take a big hammer to fall one night and?????????? I have noticed one thing people have short memories re PMs and politics . History tends to repeat itself .All the pouring over of charts will not help when the hammer falls it will fall. Maybe Im stirring up a hornets nest from the chartists. LOL.
Keep buying for the long run, YES. For short term gain, NO. Global Market Watch January 9th, 2014 http://armstrongeconomics.com/wp-content/uploads/2012/03/METPGSO-01-09-2014.pdf
Well it does also depend on what part of the world you are in and what currency your cash is in. If you deal with US dollars then following his advice might be fine but if you deal in AUD you might find that even if gold is lower in 2015 it may well be higher when priced in AUD. What if it's not equal - what if the AUD is 0.70 by then ? Gold will be $1570 in AUD. Gold could simply fall because of a surge in the US dollar in the event of another crisis unfolding. Last time that happened in 2008, the AUD dropped like a stone and gold in AUD went sky high, even though it was falling in USD.
How long have you been following him for? I've been following what he has been saying for the past 3 years and his time line have always been a bit vague. His has never said for sure 2015, but has giving his self a few years + & - to when the bull market could start depending on whats happening at the time. So it could start now or could start in 2 or 3 years time.
Every time I checked up on one of his predictions, he was wrong. Yet he always claimed he was right. He claimed to have predicted dates of events that had no actual date. I did enjoy reading his historical comments, but then I got to thinking that maybe the historical information was as fake as a lot of his market claims. At that point, I pretty much lost interest.
He states $950 max before the next uptrend. Yes true, that's something to put into your equation when buying. He's vague unless your a paid member although when you decipher his manner/style, you can still obtain good infomation. He has said to be exact 2015.75 is when the confidence model turns to the downside. He has been far more correct than anyone else and yes I have been following him since I gave up on Hyperinflation, US dollar end and so on. All predictions still pushed by others. People I might add with vested interests.
When I followed him about 2-3 years ago, he missed ever single prediction that was made public, but he claimed 100% accuracy. I am still waiting for his AUD to be double the USD prediction to come true.
yea I've always scratched my head with this too. Not sure how he claims 100%, though I wouldn't say he got 100% wrong either. I've always found him to be like everyone else that tries to make timed prediction, way off. He gives a lot of variables, so if (A) happens then X will happen in 2013, if (C) happens then X will happen in 2014 and so on... Thus not really making it a prediction. If you make enough forecast you are bound to get one right here and there. Like they say, even a broken clock is right twice a day. But i still do enjoy listening to his view as i do a lot of other people, but always take it with a pinch of salt.
