SMT WEEKEND REPORT
In the weekend report I’m going to discuss the impending bear market in the dollar. More than anything over the next several months you have to get this call right. It’s what is going to drive the bubble phase in stocks and gold in the years ahead, and I still see many many traders stuck assuming the dollar is the prettiest pig in the pen when in fact it was the first currency to fall in 2001 and it will almost certainly be the first currency to crash in the coming inflationary wave.
The rally from May of 2014 to the top at 100 last year will turn out to be one of the greatest head fakes in history, and it has set the stage for what should turn out to be an inflationary period on a scale similar to, but opposite the deflationary period of the 1930’s.
This is an important weekend report. I urge everyone to at least get a monthly subscription and start to prepare for what is coming.
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Larry Edelson has a different opinion. He says the dollar will explode much higher, which will put pressure on gold and silver. In fact, he says gold and silver will have a massive correction and won’t bottom until October 3, 2016 or thereabouts. Larry has been very accurate in his forecasts, because he uses AI and cycles to determine the maxima and minima pivot points in gold,silver, currencies, commodities, bonds, and stocks. He called the top in gold at 1,900 and the bottom at 1,050. He says he wouldn’t buy gold or silver at these high levels. Therefore, be careful out there you guys who are long gold and silver!
Gary may comment here. An October bottom may coincide with cycles analysis for an intermediate cycle low.
Actually Larry did not call the top in gold. He exited at about $1400, long before the top was struck. You have to do a little research when you hear these guys claim to have called perfect trades. None of them ever do. It’s just a marketing scam.
Larry just follows Armstrong, and just like I predicted Armstrong missed the bottom in gold. In fact he’s still trying to hold onto the idea that gold will eventually reach his sub 1000 target. He also missed the top in gold calling for gold to reach $5000 by 2015.
So let me suggest doing a google search when you hear someone claim to have called perfect trades, about 90% of the time you will find out they are flat out lying.
Also, Larry just sent out an update not a week ago admitting he missed the first leg up…whoops. Sorry
Dan Norcini also cautions traders that are long silver. Go to: traderdan.com
Yes Dan also missed the bottom in gold.
These guys made their name by being on the right side of the bear market in gold. So it’s completely understandable that they would miss the turn. Their reputation is built on bearish calls, they simply can’t reverse course as they would look incompetent to all the people that have followed them.
Armstrong in particular made a huge stink about gold bugs and manipulation in the metals market. Well as it turns out the gold bugs were right all along and the metals were manipulated so Armstrong just made himself look like an idiot because he didn’t actually research to find out what was going on.
Sinclair, GATA and many of the gold bugs got the last laugh. Although many were still ruined by the manipulation of the metals markets.
The $USD won’t go lower than 94.40. Once it comes to this level then we shoot up.
It’s going to 50 or lower over the next 6 years.
The reserve currency has to crash and burn. I would not have a clue if it goes higher from here, but in two years it will be toast
Jim Rickards, Stephen Leeb, and others are predicting gold is going to $10,000 or more. How do these goldbug lunatics come up with these figures? Even Larry Edelson is saying gold is going to $5,000, and the stock market, as measured by the Dow, is going to 31,000. On the other hand, you have Harry Dent, using demographics, predicting gold going to $750, and the Dow to 6,000 or lower. If the goldbugs or Dent are right, I don’t think this country will last very much longer. Even Robert Prechter is predicting the Dow to collapse. Be careful what you wish for. I think Gary is right. All these so called gurus are making these wild predictions to sell their newsletters.
Gary many thanks for the good points ~
at least a monthly subscription makes good sense at this important juncture of Aug/Sep… guidance needed. :）
as to the USD staying above 90$, perhaps one last bounce in the trading cycle then heads south in the next intermediate cycle.
nothing in the horizon to get the dollar much stronger. rate hike one morw time and done for 2017-2018
only Gary’s perspective of dollar heading south matches the Intermarket setups in the equities, fixed income, commodities, and currencies “Global Markets Melt-Up” phase of 2020.
The rise in gold for the last 16years is nothing less than a slow motion crash of the dollar. Big complex structures like the petrodollar i similar to an oiltanker hitting a small iceberg, it takes time for the ship to sink.
Yes US is in big trouble just look at the president candidates, a criminal establishment witch and a somewhat failed buffoon of a businessman.
According to EW we have just started the next leg up in Gold and Silver, leg 3 that is.
Of course EW is NOT nonsense like Gary S wrote about Gary W in the other thread, but it takes some skills to figure out the correct wave count. And yes I think it’s easier to get the wave count correct in a non-manipulated market. The equities is just as manipulated as the metals markets was.
You admit that the markets are manipulated but still think the manipulation will be done so as to keep the EW counts intact?
LMAO
The manipulation is not 24/7, well I sure as hell didn’t lough when you called a bloodbath bottom in gold Dec 2013.Tekoa da Silva interview. then another bloodbath bottom in summer 2014
I guess your cycles needs some adjustments too