18 thoughts on “CHARTS OF THE DAY

  1. Dan

    Playing gold for a counter trend rally is tough enough. I’ll be glad to get out of that trade with a small profit. Sooner or later, these central bank criminals won’t be able to prop up the general markets anymore with these farcical short squeezes, and everything will get sucked into the inevitable deflationary vortex.

    They’re not going to stop me from rolling over small amounts in cheap out of the money puts, until this turkey blows up. It’s the only possible way to make big money as a bear, without losing your shirt waiting it out.

  2. Huckleberry Finn

    Not going all the way there. Not enough time to reset sentiment.
    USD is going to fall like a rock once everyone and their brother gets that the Fed “might” and I say might hike once or at most twice in the next 2 years. And not start a rate hike campaign like the 90’s or 2004-2007.

  3. Huckleberry Finn

    For all those who mention the shortingi and manipulation of gold by the big banks, I suggest you look at the 75,000 net short contracts by these same banks on the US dollar. That is a 8 to 1 short to long position. You think these banks which control the fed will allow them to raise rates and decimate their positions?

  4. Bob UK

    With the mayhem in the conventional markets today I just can’t see TPTB wanting to see gold and silver continue to rise. I strongly suspect that we will have another attempt at a major smackdown this week.

    1. zkotpen

      Pump the brakes — chart not set up for smackdown this week, otherwise it would have already occurred with CNY devaluation… but heading in that direction… daily chart still needs to get overbought (among other things I mentioned this weekend) to sustain a sell off, weekly chart is at least one candle from a peak… and the smackdown will not occur immediately after the peak…

    1. gary Post author

      Give it a few more days. The energy stocks are not confirming the move lower in oil. Plus it’s late in the daily cycle. Oil should be on the cusp of a nice rally.

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