I know you aren’t one for technical patterns, but the HUI has a head and shoulders and Gartley setting up.
Gold may have finally completed an ABC bottom at 1137 from the 1920 high?
Bankruptcy of the miners themselves or of those invested in the miners with margin?
Jay, I think by default if the miners go bankrupt then those who have invested in those bankrupt miners, especially if they are on margin, will be in a right mess.
Or perhaps anyone who just started shorting miners this late in the game will go bankrupt! 😉
Gary, are you still looking at PMs as a future “screaming buy” for a resumption of the bull, or do you think they broke this sector and it ain’t comin’ back no mo’ no mo’?
The secular bull still has a long way to go, but it may take a while before it’s ready to really scream higher again.
If the secular bull for GOLD still has a long way to go.. how high can GOLD go?
This isn’t a secular bull. We are now in a secular bear and have been for 3 years now. I don’t understand how people don’t get this.
I suspect that Gold, adjusted for inflation, is not as high as the top in 1980 so, in my mind at least, it is hard to call it a secular bull, although I’d be surprised if Gold just keeps trending lower from here.
Looking at the 20 year chart for gold, there doesn’t seem to be significant support until $700. Do you have think it is possible gold could fall this far? And, if yes how would the miners fare?
Are you saying that some miners are going to go bankrupt? Are you saying that miners will never recover?
Could you elaborate on your “bankrupt” statement when you get a chance? Are you in my deflation camp yet?
Ever seen a SPY SOS# this large, MonSeñor Savage? not to mention that GDX # as well.
ive heard miners are going bankrupt about as long as ive heard there is no phyical gold left to satisfy delivery. saw that movie as many times as pulp fiction
remember when Gary told us to load up on gold options and that by the end of the year, it would be through the roof. then he said he got timing wrong and told us to load up again for the following year and again the price of gold went down.
when should we load up again gary?
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