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Oh my gold! Got to be manipulation!
It does look like the banksters are going to try to manufacture one more lower low. But this is the time to buy, not sell. It’s late enough in the daily cycle that the final bottom will be in sometime in the next 7-10 days and then we will get a sustained, and in my opinion huge move. Maybe in the order of 50-75% in miners.
Merry X-mas to all non-bankers if the rock-climbing dice actually falls this way.
HOWEVER, the green “grinch” Swiss vote may create enough “static” that a lower low might never arrive before Christmas stockings this season. Armstrong’s seems to be hinting towards a golden rocket launch when this vote hits the wires Sunday night. But, maybe the launch will get a 7 day delay?
BUT, if we do get a lower low, your premium membership will look very tempting!!!
I wonder what Santa’s helper, “General” Jim, is reading from his golden-colored glasses right now…
Gold continues downtrend. might be some support around $750-700 oz. dollar and equities to continue higher.
There is a huge support zone at about 1050.
They’ll get their chance for one last smash if the Swiss vote down their gold referendum on Sunday. So the DCL you’re expecting could come then. On the other hand, if the Swiss vote “Yes”, that might provide the catalyst for the huge move you’re expecting. A “Yes” vote by the Swiss would also give China the “cover” it needs to announce some sort of gold backing for the Yuan. You know they’re itching to do it, they just don’t want to be first.
I’m guessing a yes vote and this turns out to be a half cycle low for gold followed by another move higher into the daily cycle top over the next week or two. A no and gold probably continues down and makes one more lower low to complete a final and very stretched intermediate and yearly cycle low.
“Maybe in the order of 50-75% in miners.” – I was just going to buy some GOPRO but perhaps I will hold off till next week.
Can’t trust the Swiss or any other nation that eats cats. I will be very surprised if they vote yes and I will be even more surprised if, other than a sizeable bounce, if it has any affect long-term.
One of the most boring countries on the planet. Don’t take your puss on holiday there.
I was ready to pull the trigger on ‘buy the rumor, sell the news’ today with GDX, but it looks like everyone beat me to it. Darn!
I keep waiting for the set up to buy gold and oil. There will be a bounce somewhere, sometime, and it will be a nice opportunity. But I haven’t seen any indication yet in either market that it is time to buy. Lots of potential there… just no set up yet.
This Swiss just voted no. What do you think the effects will be? Do you think that India’s removing import restrictions will counter the negative vote? Thanks.