Gary, what in blazes is going on with silver, please? It’s going down between 1-2% while gold is barely bumping up against 0.20%. And it’s been like that for several days.
Silver decided to forego gold’s supposed climb to 1250 and head straight down instead. Looks like gold 1250 rally was but a mirage.
Silver is an industrial metal and will follow copper to a degree.
I’ll channel Gary – obviously, “they”, “the banksters”, don’t want silver up, so they force it down, unnaturally of course. If it traded ‘naturally’, it would be triple the current price, at least.
Unless this ‘synthetic’ market decides to break that support..
I mean let’s face it Gents.. here we are studying charts and counting days into a cycle, but why even bother..? If there’s one thing this Market has taught us over the last several years is that it doesn’t follow any one rule and will do whatever it takes to survive – like a disease eating away at your flesh..! Gawd that sounds gross, Lol!
Gold: What happened to gold 1250 then ?? Gold had every reason to go up today when teh Dwo was down 1100 points it went up $6 only to close the day at Minus -$6.
Now we are back to the 1033 scenario again?
Oil: What is going to drive up price of oil? China’s booming economy? Saudi Arabia’s super high production to drive oil price down to pressure Iran regime and US oil production? Deflationary pressures present in virtually every economy and now in China? What is exactly going to drive oil prices up? Barring a huge war in the middle east which is coming but not now.
I think oil has a date with $32, and then some.
Gold was never going to get to 1250 during the first daily cycle. The second cycle is the one where 1250 is possible.
When does the 2nd cycle start and how long will it last?
My NUGT has lost 33%
What happened to gold?- Although gold has acted like a save have over the last few weeks. The crash in the markets has forced liquidation in gold to cover other losses elsewhere, hence the reduced gold rally. Gold is still stable relative to other commodities. Silver tanked like all other commodities, at 78:1 could be a good trade over the next few days. The SHA has continued to fall and lies at yearly support around 3050, i think there will be a recovery rally from midweek onwards, which should feed into other markets. A lot of panic out there at the moment.
Ok the SHA crashed through support, looks le a continued rout.
There is an inflection the 31 of August, then we ate out of the woodwork. GSR needs to touch 80 to kickstart the bull.
Sold my S&P bearish bet yesterday 🙂 +180 in one week, best trade in 5years.
Things is shaping up nicely …
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