Will gold go higher or lower during that?
It has been going higher, probably in anticipation of more global QE.
wow!! bold prediction foe SSEC
Since govt intervention hasn’t been working in propping up their mkt, isn’t a short trade in order?
That would be up to you. I’m content to just wiat for the 7 YCL.
Gold and metals will continue lower primarily due to lack of demand caused by deflation.
what you said is far away from the truth. we already saw the gold and silver backwardation, high premium and long delay on delivery due to high demand.
Gotta love all those that come out of the woodwork to oppose Mr. Savage but that’s what makes up Wall Street. Everyone seems to be metals analyst experts, lol.
Mr. Savage wouldn’t the bullish chart set up of the US Dollar damper the extreme potential of commodities in general here going forward?
The US Dollar chart set up is rather bearish in the short term – UUP/Weekly – me thinks!
It looks kind of bearish to me. It can’t seem to hold above the 50 DMA.
Gary, I couldn’t agree more about the SSEC. I been following the consolidation closely, because if China sneezes, Australia gets diarrhoea.
Yes, the direction for China is heavily biased to the downside, no amount of intervention can save this one?
Reference posts on China – One of my favorite TA pattern, H&S and RH&S in action…
1) Oct 2014 post of calling RH&S breakout:
2) August 2015 post on potential H&S breakout
Metals plummeting, not sure how you can remain bullish if you expect China to crash again.
Are they dumping contracts pre-market again?
Contrarian time aka take advantage of weakness and strength.
Selling all energy shorts at open and going long.
Adding more miners long at open.
Do or die like Nike says just do it!
Noticed a disconnect from Friday’s tape action from energy vs US Indices aka start of a divergence taking shape.
Market mayhem spells commodities boom.
US Dollar looking bullish so confused there.
Bullish? It’s tanking
Bailed out of miners, doubled down on Crude.
Looks like several bubbles all bursting at once:
Biotech, shale oil, China A-share stocks, YieldCos, Emerging Markets, High Yield…
Seems orderly so far….
When is the panic phase?
Forgot about social media stocks. These have to be the most overvalued, worthless to society stocks on the planet. Facebook is worth whatever the NSA will pay for it to spy on everyone and that’s about it.
all are silly applications
As I’ve been saying for some time, you really just have to wait until gold definitively breaks out of its bear market. Until then, nothing and I mean nothing is happening in the gold sector save for little wiggles which get your emotions stimulated on very short timeframes, but which are meaningless. If anyone really believes gold is returning to a bull market you will have years–years!-to play in the space. Until then, it is a *waste of your cognitive energy* to be spending any time at all trying to call bottoms in this market, and it’s especially a waste of time to try and capture the first part of the move. I subscribed for a while some years ago and while Gary’s analysis across all markets is useful, it was my view then that the gold sector and especially gold equities were a waste of time. Were there rallies since then? Yup. But they all ended quickly. When the gold bull market resumes, let others have the first 10% of the move, then you can productively spend your time in the several years that follows.
define “bull market”?
Gregor – “As I’ve been saying for some time, you really just have to wait until gold definitively breaks out of its bear market. Until then, nothing and I mean nothing is happening in the gold sector save for little wiggles which get your emotions stimulated on very short timeframes, but which are meaningless.”
This sounds right, BUT, did you make money on GDX in Jan? How about Aug? I know as a fact that Gary made like 20% or more in Jan on this move, and while I don’t know I bet he made more than 10-15% in Aug.
Me, I was out, and made nothing.
Sure the trade right now isn’t working. But be careful, as it’s not over yet. The weekly chart is way oversold, and sentiment is low, as is COT, so while I totally agree this is a messy bottom, the trade isn’t over yet.
What I’m saying is, anyone can talk all day long about this and that. I do my share.
But if the question is, how much money one makes at actually trading, then I’d say Gary’s in the top 1%.
Sure, not all trades work out, but he addresses that by being quick to get in, and quick to get out.
A little surprise you have this
SSEC chat up, when the local
action is in the SP500.
As usual, miners got bashed down along with general equities. However, dont forget that miners were touching its resistance the day before so today’s draw-down is a normal price action….
Looking at technical closely, a “violent move” is coming? You be the judge of where the direction is!!!
How soon? Any tell on that?
Day too early William, bad call over the weekend my friend.
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