Warning to All Goldbugs

L

leon1998

Member
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This is a weekly chart on GLD (most popular gold ETF). We are probably reaching another top around 1,200 USD within next week. I am pretty sure CNBC and all other MSM will broadcast the news; "Gold tops 1,200!"

Truth is, Banksters have been quietly piling up gold short contracts in the past weeks; gold futures report shows their short/long ratio is 1.6 now. Another smackdown is expected. :P
 
leon1998 said:
This is a weekly chart on GLD (most popular gold ETF). We are probably reaching another top around 1,200 USD within next week. I am pretty sure CNBC and all other MSM will broadcast the news; "Gold tops 1,200!"

Truth is, Banksters have been quietly piling up gold short contracts in the past weeks; gold futures report shows their short/long ratio is 1.6 now. Another smackdown is expected. :P
Click to expand...
I look for ward to see how this turns out.
Nice to see you are getting over that silly single sentence post.
I am even going to "say thanks" for the effort:)
 
Armstrong has the first resistance of gold at 1188 and a break above 1210 before we can get excited.
 
I'm selling a little at resistance, just incase to lock in some profits (physical) since theres no shortage of gold. Otherwise, holding onto some cash isn't necessarily a bad thing!
 
Good idea; between 1,180 and 1,240 usd/oz should be the range to SELL, instead of buy. :)

Silverpv said:
I'm selling a little at resistance, just incase to lock in some profits (physical) since theres no shortage of gold. Otherwise, holding onto some cash isn't necessarily a bad thing!
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tolly_67 said:
Armstrong has the first resistance of gold at 1188 and a break above 1210 before we can get excited.
Click to expand...

:lol: that guy has had resistance points everywhere.
 
According to the trend on this chart, the next top in gold will occur when speculative longs are net long about 180k contracts. As of the cot report on the 9th Oct speculative traders are net long around 90k contracts. Still a way to run before the top is reached.

10425_2015jul7goldspec1.png
 
Who is taking the other side of large and small speculators positions?

Look at that instead ;)
 
aleks said:
Who is taking the other side of large and small speculators positions?

Look at that instead ;)
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Someone from the other categories (producers, swap dealers, etc.)?
Or maybe Mr. JP Morgan himself?
 
Porcello said:
Someone from the other categories (producers, swap dealers, etc.)?
Or maybe Mr. JP Morgan himself?
Click to expand...

Yes the commercials in aggregate


monopolize said:
Makes no difference. It'll just be inverted.
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Yes you are correct my mistake
 
Today's weekly futures report showed, Commercial Traders increased their short position by a whopping 35,530 contracts.

In summary, Banksters are mad; I believe another smackdown is scheduled. :P
 
Past five weeks how much short position Commercials/Banksters have piled: (considering a weekly increase of 7,000 contracts being normal over past years)

Week(9/25/15) : short increased by 18,353 contracts
Week(10/2/15) : short increased by 16,358 contracts
Week(10/9/15) : short increased by 14,215 contracts
Week(10/16/15): short increased by 25,843 contracts
Week(10/23/15): short increased by 35,530 contracts !!!

Banksters have gone MAD, smackdown scheduled :P
 
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