HUMBLE PIE SERVED COLD

A couple of months ago I did a video on the gold manipulation explaining how and why it was done. I said at the time that when the market finally broke the manipulation that gold would surge violently higher, not like a normal bear market would end with many months of sideways trading and complete apathy.

I also said that the perma bear analysts (you know who they are) who have for years now heaped one derogatory comment after another at the bulls trying to expose the manipulation would ultimately be exposed as the frauds they were. Folks no one can see the future, not man nor computer. These people are nothing more than trend followers and just like I predicted they would miss the turn when it came because they had bought into the nonsense that gold was trading naturally.

Well with gold surging thorugh $1200 and now trading at $1240 I think it’s time for these frauds to eat some cold humble pie and crawl back under their rock. The market is doing exactly what I said it would do for exactly the reason I said it would do it.

174 thoughts on “HUMBLE PIE SERVED COLD”

  1. Lance

    If the manipulation has indeed ran its course and is now complete – nobody on this blog is happier about it than I am. It’s been a tough 4.5 years. Let the bubble porn rule!

  2. peter parkinson

    Well done Gary and greetings from the UK, unfortunately Im not a paying subscriber but I have followed your advice for some time now you have called it right all the way Im just hoping youve got it right for a correction down to the 1150 level so I can get back in good luck to all for the future especially Gary although I dont think you need it

    1. Gary Post author

      There will be a correction at some point but there is no telling how far this could run as it’s going to be driven higher by the stock market and dollar collapsing down into major cycle lows, and both of those cycles are still pretty young.

      1. t

        I like many following Gary got burned since 2011 and I want re-iterate Gary’s comments the other day when he said that banks have killed us over the last 5 years. Now maybe is our turn…

        The only way to make back what you lost and more is to hold your positions – period. Gary can spot tops and bottoms but as he says – surprises come to the upside. There is no knowing how far this can go. Accumulate, dont use margin, dont trade in and out……. and above all don’t sell yuorself short….

      3. Utopia

        Congratulations Gary. Great call. It does indeed look like we are heading into the 1250 region. I can finally get a decent Elliot wave count which had eluded me until now. This looks to be the fifth wave and it is parabolic. The correction that follows however may disappoint the bears (myself included). Despite being in your camp I and have made a respectable call with regards to the megaphone pattern I have to admit I fell back into the bear camp after listening to Doc (who is a very respectable analyst) saying day after day that gold was not going anywhere fast. I think there is a word for it when you hold two conflicting views at the same time. So despite having called a bullish trend I actually traded as a bear (F**K!). No matter, my shares did wel but it could have all been so much more rewarding an experience.

        Kind of funny though that those Elliot Wave Traders could not make THIS call.

        That might be what makes this all worth while 🙂 .

        Keep up the good work.

      4. Jacob

        Great call Gary, I tried to get on your new year trade and didn’t, I regret that now. I too hope it comes down a little to buy some more miners, starting to look like I should get all I have on this train. Like I said the other day, I can’t see how they can suppress gold from here, only worry is how corrupt the paper gold market is

  3. Brad

    Gary

    I don’t think you can be too smug. I Recall your call that gold would never go lower than 1600. You’ve made plenty such calls over the years. Not trying to bash you, but you can’t take one and ignore the others. While I was a member you reset your performance track record as you were down and several quest portfolios went to zero. I’m amazed you are allowed to pick and choose your performance record. The SEC doesn’t allow funds to do that.

    1. Gary Post author

      Well of course I’ve had losing trades, everyone has them. Well except Avi Gilbert. He apparently never misses a trade and is the most accurate gold analyst in the world.

      My mistake was in underestimating how long the manipulation would last.

        1. RayB

          right .. Gary gives us free analysts on here and thats why I get pissed off from comments that are negative about Gary. Its good to have other opinions, but don’t say negative things about someone just cause they disagree with you.

  5. Dan smith

    Nothing like humility hey. A bit of perspective here, the bears have done very well, for the last five years and made a packet. If this is the turn, then now they can do very well from the bull market . I don’t know of any single commentator who has said that the bear was a permanent fixture, all have been expecting a bull. Who are these perma bears you keep referring too. I’m guessing you mean MA, who has stated that short term manipulation is possible, but creating an entire bear market is not. What we can see here is the European banking system collapsing and money flowing into the gold market. At the end of the day I dont think it matters a jot weather you believe in manipulation or not. All that matters is that your on the right side of the trade and making money. Bear/ bull who gives a S*&t.

    1. Utopia

      I have the same question. Just who are these bears you refer too? I can name probably 50 popular full-time bulls right off the top of my head but I can’t think of too many bears other than Goldmans Currie and a few analysts from the big banks. Guess there is Harry Dent. Prechter falls in that camp too. But who else? Anyway, gold is not going up because of inflation and that is for damned sure. This is a reaction to fears of a banking crisis coming. Personally I believe that when the dust clears that most of the major banks will all be nationalized. Both here and in Europe. There is no other solution to end the casino that operates there. Who was it that once said Bankers would be lucky to get jobs as Baristas after the next crash while farmers would be the ones driving around in new Cadillacs.

      1. Gary Post author

        Gold is not going up because of fears of a banking cirsis. That is complete nonsense. We had a banking crisis in Europe in 2013 and gold went down.

        Gold is going up for the same reason it always goes up, it is anticipating QE4 and a rise in inflation.

        This nonsense about gold rising only with disturst in government is the most ridiculous thing I’ve ever heard. If that was the case then how in the hell did gold rally from $250 to over $1000 during one of the most benign periods in history?

        1. Utopia

          Well Gary, on the point about gold only rising with distrust in government you are arguing with the wrong person here because that is not my theory but rather Martin Armstrong’s. So don’t waste your breathe on me with that comment.

          Secondly, there is no QE that I know of. So it cannot be sniffed out..

          NOBODY is talking about any more QE’s except the lunatic fringe and you. What is a fact however is that gold bottomed as bank stocks fell and so the connection is obvious, not a bunch of nonsense as you retorted.

          In any event Gary, you may be letting this one gold call go to your head since it seems you suddenly got a bad dose of arrogance you are dishing out to people who post on your thread. In fact, you were not the first to call it. That actual call came from a guy named Birdman on the Korelin site who detailed exactly what has come to pass back on December 15th (almost two months ago).

          You merely rode his tails on this one. Nothing more.

          2. Utopia

            Shameless Plug for what Irwin?

            Oh, you thought Birdman was a REAL name! Or maybe there was a site and subscription service to go along with it? Guess you are wrong on both counts. I only do commentary for my own enjoyment although lately I am not having much fun with it anymore. Not sure why I bother really. There is no benefit to me whatsoever to do technical gold analysis. The fact is, I got the call right (again) and to my knowledge there was not one other person besides Gary who saw this coming (the damned fools who call a bull market every other day don’t count….those are just broken records). My regret here is that I did not trade it more aggressively and secondly that I let my mind believe in a cup/handle pattern which was improbable given the major pattern I had already identified. That’s what I meant about trying to hold two conflicting views at the same time. It does lead to unpredictable results sometimes.

        1. Ryan

          You are right. Over the past month he has been saying gold would move “grudgingly” higher and I think we all believed him with his recent good calls. I wouldn’t call the move we had “grudgingly”, but I still like the guy. It’s that pompous Chris Temple I can’t stand. If I hear another comment about aliens doing this or that to the market, I’ll lose it. The man doesn’t think manipulation exists and is ignorant.

    1. Utopia

      Here is the post I refer to Gary (since you pis*ed me off),

      Fact is, this bull was called by another person and it was called in precise detail based on a clear pattern. And that would mean that the ONLY person who accurately foresaw this move in gold and described what was coming was in fact me (Birdman). I hold to my call for silver to hit 17 dollars btw and if you are curious.
      ————————-

      On December 15, 2015 at 11:50 pm,
      Birdman says:

      Moving on to another subject….

      Last week I wrote a post on my projections for precious metals after being asked and I provided an answer based on a pattern I am watching. What that pattern is that is developing is called a “bottom megaphone” and generally these can be reliable once confirmed.

      The pattern appears at the bottom of a long period of declines where the second bounce is higher than the first bounce off what appears to be a price bottom. This is then followed by a third and final thrust higher which can take prices substantially higher depending on the magnitude of the megaphone.

      For example, an hourly chart Megaphone is not as important as one seen on a daily or weekly chart so while significant it would not encourage one to take positions for too long a stretch. The bigger the pattern the better the outcome.

      Anyway, Gary had discussed the fact that gold and silver were both in right-translation for the first time since forever and he felt that was significant, perhaps even telling us a final bottom had arrived. At the time I disagreed due to my own charting and in fact both metals tumbled hard soon afterwards (which was happily very rewarding as I caught both the decline and the bounce back).

      Now on the first point, Gary was correct about noting the significance of that right-translation but what he did not see was that what was actually in formation was the megaphone which I just mentioned.

      So off a bottom there will be three distinct rises and each will be longer than the one before it. I want to post the pattern for everyone here to judge this for themselves and then ask you to go and look at silver on a daily chart for a comparison (also linked in my next post).

      Most here will probably agree this looks like a positive set up for silver.

      If I am correct in this assessment then gold silver and the miners GDX and GDXJ are set for an substantial move up that should begin during the next few weeks. An important note though; The chart pattern is not actually confirmed until it breaks ABOVE the rising trend line so you would not bet the house on this nor any other prediction a chart reader sees.

      So for silver (and for the sake of argument) that would be something in the 17 dollar range exceeding the upper boundary of the rising trend channel as drawn off the prior peaks seen in August and November.

      The leg up should begin fairly soon based on the current consolidation pattern. Here is a technical analysis brief on the “Bottom Megaphone pattern” so everyone here gets a clear idea of what I am referring too.

      After checking silver it will be worth your time to also check GDX and GDXJ for confirmations of this idea. While similar patterns exist in those they are less perfect and by that I mean that price did not extend lower but rather hit a base and consolidated. I don’t believe this is a hindrance though as miners have already been heavily oversold.

      Megaphone Bottom Pattern (rare but fairly reliable pattern so keep your eyes on it)
      https://www.share.com/experienced-investors/technical-analysis/megaphone-bottom/

  8. Max

    HI Gary,
    Any thoughts why the Canadian and Aussie Gold miners are still some 60% below their 2011 highs when Gold in Canadian dollars & Aussie dollars is now only about 5% below their 2011 highs?
    Cheers

    1. Hillarys Cattle Futures

      They are under performing because general “sentiment” towards the Gold miners is still very negative and skeptical.

  9. Ralph Wiederzane

    Not only did G get us in miners for the ride, he also kept out of the dreaded stock market bloodbath. Thanks again!

  10. Cushme

    And Cushing OK is about to explode ! Oil gushing everywhere with no place to put it. Anyone have an empty swimming pool ? Maybe you could take a donation, and let warren buffet pay you $100,000 storage fees to hold 30,000 gallons of oil in your pool for a few years. Lol. Meanwhile, gold wouldn’t surprise me, if it started having multiple $30, $50, or even $100 a day moves to the upside. The problem this country has right now, is the imbalances in markets are so large, and the derivatives positions of the Big 5 banks so heavily intertwined with Europe, china, Japan, that we could see massive moves in our currency to the downside. Commodities have been telegraphing this for months, and it wouldn’t surprise me to see oil drop to $11, while our currency revalues as well. Dont say it’s impossible when you have derivatives, bc one only has to look what negatives rates have done in Japan, and what the Yen is doing. The fed is stuck between a massive piece of granite that is immovable, and 100,000 ton lead block. They have to raise rates to keep the dollar afloat, as the primary reserve currency, while China desperately attempts to depeg from the dollar, and revalue downward. Everyone’s head is going to spin here on what will unfold, but suffice it to say it will be beyond ugly. Charts don’t work in the coming environment, bc the world has been warped into believing that there are no risks, as risk has been masked by derivatives. That is their function, until they don’t work.

  11. Cushme

    Oh and also, did you hear Yellen mention how negative rates need to be investigated to determine if they are “legal.”. I couldn’t top laughing. There is no way on this planet the US dollar is going to ever see negative interest rates. It’s quite the freaking opposite. They can’t do it !

  12. Jeffjoey

    Gary is the only one to get to this right!!!!

    I have read every one of the reports of the experts who flip flop at nausea….except Mr. Savage, steadfast and humble.

    Finally, good analysis triumphs.

  13. klo

    Thank you thank you thank you! After 4 + years of market hell that seemed to make little sense I am NOT missing this move. I have a long way to go to regain what was lost but I have been in this the whole way since 2000 and the up moves are breath taking.

    Come on we are talking about 1200 -1250….that’s nothing. We are just getting warmed up. We need to step away from the computer and all the TA and let the pissed off baby bull run run.

    Gary my hats off to you. Gary Savage for president!

  14. Bill

    I hope the Newb took your advice….

    The first round was a series of QEs.

    The next round will be a concerted cocktail of capital controls, withdrawal limits, cash restrictions, negative interest rates and for good measure a dash of some Brazilian virus, terrorist act and Bruce Jenner attempting to reverse his sex change will keep the masses all in awe and confused.

    1. Ralph Wiederzane

      And of course, a little or lot more war on countries and people that we would never meet. Sounds about right.

  15. klo

    Internet articles on gold-eagle or kitco we’ll never see:

    “Confessions of a gold analyst, my pet gold bear just bit me in the ass!”

  17. over and over again

    oh come one how clowny you can be?

    again with either it will go up or down I have a “sneaky” feeling

    Gary, don’t forget there ARE people who know you many years and know exactly how you operate.
    jeez

    1. Bill

      Sucks to be short huh…or better yet sucks to be you. Of course now you’ll come back with ” No I’m long ” of course you are, all you broken records are the same… Enjoy your ” Humble pie “

    2. Utopia

      No, this was a good call. An excellent call actually so please don’t minimize it. Gary began making it as far back as middle December if memory serves and he was unequivocal at that time. He is probably the ONLY analyst that foresaw this action when he started making a big deal about gold posting a right translated high during October. Nobody believed him. Not even me at first but I did come around because that high was part of a process in creating an even more durable and reliable patter which i have referred to here many times this past two weeks. Gold is now at the top of its three wave expanding megaphone formation meaning the reversal from bear to bull has finally been confirmed. We will NEVER see gold at sub 1000 after this.

      1. Mark

        Gary has always been right on gold only the lies and extreme manipulation has held everything back and it made him and others like him sound like fools!

  20. Mark

    See one thing about me is……………I don’t have to wait for the official word from the GOV’T to know that we are in a recession, like so many others are out there waiting for!
    And right now the world is in a Depression!

    GOLD WILL CONTINUE TO RISE ALL DAY!

  24. Mark

    ***** GARY, LIKE I SAID OVER ON THE KER REPORT, THAT YOU ARE THE MAN! *****
    Your calls were spot on………it was all of the manipulation that held you up!
    Plus a lot of those fools over there don’t like you!
    This is why people are leaving there and coming over here!

    Personally I think Al Korelin is a Nazi.

  25. Mark

    *** ALSO NOTE: that it is getting harder and harder for DA BOYS at the Comex to hold the price of gold
    down due to the extreme lack of inventories on the Comex! Sure they take the price down for a few hours but after that gold goes back up!

    OH MY GOD! Look at that 10 year……………1.53%.

  29. Gary Post author

    I expect we could see gold test the breakdown at 1550 before this intermediate cycle tops. Gold isn’t going to stop going up until stocks & the dollar stop going down. Stocks are still very early in their daily cycle and should still have 15-20 trading days before we strike the final 7 YCL.

    1. Richard

      Would be nice, keep us updated on the cycle count.

      My personal target is 1,300. There is a possibility we could have a “smash” and test that area 1450, 1550 very quick. At this level I will evaluate and decide whether to hedge my mining shares against GLD itself. All currency games folks.

  30. Frank

    Gary,

    Indeed, I remember you posting this article and commenting about the push lower on gold and gold stocks to HUI 100 level was fake or a termination pattern. Of course technicians did see this diffrently.However I am still scared about my gold holdings going into second part of 2016 as several newsletter writers scare with there forecast of bottom due to 8 year cycle in Gold. But previous we had bottom in 2001 and 2008, and this was 7 years in between, not 8, so 2015 could be seen as bottom, If I am correct.

  31. Mark

    ** LOOK AT THAT……….they just got their lying manipulated jobless claims numbers In down 16,000 claims!
    This just gave them a reason to take gold down but that wont last!

    With all of these layoff where the HELL did 16,000 people find jobs at in January!
    More lies!

    1. Gary Post author

      Watch the support level in stocks, not the resistance level in gold. As long as stocks continue to drop into the 7 YCL gold will continue to push higher. The next support for stocks is at 1732.

  33. Ralph Wiederzane

    Al Korelin is a dink, he was lucky to leech off Gary’s expertise. I can’t stomach the Korelin report any more so no longer visit, and I’m glad to see Gary more active over here on his own project.

    1. Mark

      Yes he is a dink! That’s why I left, oh and also he will erase your comments if he dose not like them!

      I can see it if you used foul language, but just for having your own opinion! That’s bad!

      1. Mark

        No debating on any key economic or world related issues allowed!

        Just a pat each other on the back site!
        BORING!

        1. Ralph Wiederzane

          Exactly! And Corey sounds like my young teen daughter when she talks about “staaawks”, LOL.

          Enough on those guys, glad I dumped them!

  34. Enoch

    Hi Gary

    while mining stocks has certainly been following the movement of gold, but if and when the general market begins a steep sell off to complete the 7 year cycle bottom will it drag mining stocks with it initially?

    1. Gary Post author

      I doubt it. I think it will just light a bigger fire under gold and miners will follow it higher.

  35. Mark

    *** Gold now up 1244 an ounce……………..I told you that it wouldn’t last long!
    Give me 1250.
    Look at the miners go!

  37. Mark

    Tell me, did anybody just see and hear what Scott the trader on Fox Business Channel just said what Janet Yellen needs to say today in order to clam these markets down right now!

    Basically she just has to go out there and lie to everybody!
    Wow…………………UNREAL!

    1. Bill

      Why would you short into Yellen speaking…Lol you people I tell ya. She could blow this thing sky high based on ZERO confidence alone…

      1. Mark

        I agree………..I’m just reporting on what he said!
        He said she has to go out there today and say that the economy is good, Europe and the world is alright, and she will not be raising interest rates any further!

        Basically just go out a lie, and the markets will recover!
        Sad…………..very sad times!

  41. Herman

    well, this looks more like a blow-off top to me. Silver is not really joining the party, G/S ratio is rising, not declining, over 79 now. I am quite sure it will be a repeat of the last ‘break-out’ last October, but GLTA.

  42. Herman

    stocks will rebound soon, oil has retested recent low and is primed to bounce higher. Once this happens, gold could decline very fast.

      1. Herman

        no, it is mostly about fear. When markets and oil rebounce, people investors will regain confidence and gold will fall.

        And please keep your ad hominems to yourself.

        1. Bill

          Oil is an inflation trade good luck finding any…Oh and allow me to hand Chris back his face that just got ripped off lol

        2. Richard

          Herman, good points, but you have an illiquid market, especially in bonds, which is going to create forced selling. This is what is concerning. It is not all about fear, but especially these junk bonds, funds/institutions cannot sell them and must sell other products.

        2. Richard

          Yes, 10YR failed 50% at 2.3% = retest of 1/2015 bottom and real test of 2012 bottom!

          Bonds are reflecting more of a panic than stocks. something is going to give here.

          1. Mark

            Well, people buy into bonds as a hedge against deflation, and they buy gold against inflation so yeah what is up!

            I still like gold!

          2. Richard

            Mark,
            No signs of deflation. Many believe we are there. Pricing pressure remains to the upside. Consumers still accept high prices = no economic deflation. Bonds are nervous due to -rates in Europe and growth prospects. Commodity cycle does not indicate deflation. Anybody claiming deflation is speculating.
            But I will add, deflation will come, just not now.
            This is monetary policy gone bad.
            Gold right now due to oversold and panic. Watch gold/plat ratio. If inflation, this should approach 1.0.

          3. Richard

            Another thing to consider, if deflation, the FED will print money like crazy and drive the USD down significantly for trade and asset appreciation. Would you want to hold USD in long term bonds and lose 20%, 30% or more purchasing power to gain 1% or 2% annual interest? Deflation this time around will be different than in 1929,.

          5. Richard

            Agree Mark, government inflation is low because they need it to be for their social benefit programs. What do you think the COLA would be on social security if they printed 3% inflation? It could possibly bankrupt social security and medicare.

            Agree with inflation. Everything is increasing in price and everybody continues to support these prices with cheap credit. If people woke up and acted responsibly, it would be different. But hey, times have changed. I have had family lose everything in the depression and realize how to budget your life for the unexpected.

    1. Bill

      Yellen comments in Day 2 of Humphrey Hawkins:

      Stronger dollar has helped hold down inflation
      Fed is watching developments very carefully
      Fed has been surprised by oil drop
      Fed evaluating how markets may influence economy
      It’s premature to make a judgement, we meet in March

      Premature? It’s your job. Is she waiting for a bird to fly in the window at the March FOMC and whisper to her what’s going on?

  44. jim

    gary, you posted a couple days back that you covered your goldholdings when it was consolidating, are you, or have you bought back in since that time

    tks

  45. Stefan

    THIS IS A BEAR RALLY GARY !!!!

    Time to eat some humble pie tonite 🙂

    I agree this could run a little bit longer, as I’ve stated before:

    It’s a Three Step Rocket Launch:

    1. Left shoulder in 2016 -> take profit
    2. HEAD in 2017 -> Take profit
    3. Right shoulder -> FINAL LOW sub $1000 in late 2018/early 2019

    Back up the truck and Buy and forget for a couple of years !

    There you have it, you can thank me later haha

    1. Gary Post author

      I doubt it. Gold has broken above 2 prior intermediate tops. gold is already sniffing out QE4 and breaking 3 years of manipulation.

    3. Carlos

      2018/2019? That’s far out there. What do you make of the 20 year chart Stefan? Does that not look like a crystal clear left side cup? With the 50 day ma clearly breaking finally, that may change the game to sideways instead of down.

  46. jim

    Gary, still would like to know if you would buy now. I saw the post where you sold your gold holding couple days back during consolidation, is it time to get back in now or wait.
    Asked before this post but didn’t see an answer

    Tks

  47. SamDeScam

    Good job Gary I come here often now a days

    While I am still awaiting Akkkeraman 814 gold so load up more
    Docs below 1100 in spring n summaer again

  48. jim

    shouldn’t have to subscribe to get and answer to obtain a follow up on one of your previous postings where you cleared your gold holdings a few days back which seemed reasonable, just wondering if now is the time to get back in and if you will do or did that

    Tks

  50. SamDeScam

    hello bill u r graph is goood gold just hit n touch 1263 coming down

    1225 1263 then >1307 are my points monitor

    watch COT next next friday 20feb to know which bears got slaughtered n sasuages

  51. KLO

    Don’t worry about silver…it takes a little while to get it going but once it does it is a beast!

    Your confirmation sign Gary, Violent upward movement once the manipulation was broken…great call.

    In 2000 it was different, I was buying miners that had flatlined and were taken for dead…no pulse. That was the end of a normal bear market. This is not the end of a normal bear market. This was a bogus fake bear market and there is going to be hell to pay.

  52. Enoch

    I had a couple of position in the mining sector and exited all my position since I did not like the fact when gold punched thru from 1249 to 1260 the stocks did not make new highs.

    1257 area is 200 day moving average on the weekly and also a 50 day on the monthly. this may provide a pulse

    I will now wait for a bigger pull back wave 2 possible a cycle low in gold some time early March.

  53. Dan

    Great call on the undercut bottom and calling out Armstrong. He’s a joke. But I still think $500 gold is in the cards. Deflationary bust (just look at oil) will destroy this goldbug psychology along with every other asset class.

    2. Richard

      See my comment above, no deflation. Commodity cycles are commodity cycles. This does not represent economic deflation.

  56. Bluebear87

    For me just $16.67 a month for Gary’s service is a no brainer!
    By far THE best market timer bar none.
    He needs to raise his subscription rate IMO.

  57. Joe

    Thanks Gary. Your writings gave me the courage to hold my 500 shares of NUGT when it recently hit 18 and change. Still holding what was a $7,500 investment right now, at this minute, worth ($27,000). Have no plans to sell any until it’s worth $1,000,000. Thanks again

    1. tim

      never ever hold 3x funds for more than short term, you may have realized a good gain by holding this far but it is a 100% certain loss of all your investment if you wait for much further gains and never sell.

      1. Barney

        How long is short term?

        I’ve held 3x etf for 3 months and made good gains.
        Is it over 1year they would fade or are they unpredictable?

      2. Joe

        Gary said we should hold on to our gold holdings for 4-5 years. Why would NUGT not be included? It’s a rocket-ship to the moon and you missed the boarding.

        1. randy

          As long as the underlying issue is trending in your direction, the 3X ETFs are OK to hold. If, on the other hand, they are moving against you…get out of the way or you will be steam rolled!

          1. tim

            3x funds loose on average 1% a week on slippage, they reset every day,,
            Yes you can make good money only when it is a steady move in one direction but that is only a 2 to 3 time period a year to do that, the rest of the time you are going sidways or falling just as fast as it went up, so it is only 2 or 3 times a year you can make good money by holding

  58. Richard

    Mark,
    What is funny is how Yellen and her cohorts continue to mention how they are working so hard for 2% inflation. When they realize if government inflation ever printed 2% and overshot to 3%, cost of living expenses would increase parabolically! They are wishing for something they should not be. Once the inflation genie gets out of the bottle, you cannot get him back in.

  62. Hillarys Cattle Futures

    In Trader Dans defense; all he’s doing is trading paper regardless of it’s direction ……. he doesn’t care that the price discovery process was twisted by adding up to 500 phony ounces of Gold to disrupt honest price discovery – he’s just trading the tape.

    1. Richard

      Paul or any other comments,
      I am confused. I did not really listen to the two day testimony with Yellen.
      But, Yellen raised the rate in December, yet continues to pay banks interest on excess reserves at the FED, but she wants them to start lending to the public to stimulate the economy and raise inflation? So she raised the interest rate that she pays on excess reserves?
      I know they don’t know what they are doing, but it seems like I am in Bizzaro world!
      And now talk of negative interest rates? What gives?

  67. Enoch

    looks like 1260 in fact holding well, im expecting (as gary pointed out before) this may be it for wave 3. looking for wave 4 to backtest the multi-year downt rend line break near 1191-1213 for a week or two then sling thru 1300+ to complete the first wave up before entering the dull gold season between april-june. then the real fun begins

    2. JayT

      IMO no way the Saudis will allow that until a lot more US and Canadian shale cos bite the dust.

      Not sure it will happen as they envision or that it’s a wise strategy given they’re burning through their FX reserves, but they seem determined to make a point, even if they’re shooting themselves.

    1. Herman

      Do they also get a chance to un-eat when the this Pie comes flying back? 😉

      Which could be very soon, since there is a decent chance that today we saw the top of this bear market rally…

  73. Anthonyo

    February was the Panic Cycle. It appears to be on target.
    The Monthly Bullish stands up at 1362. That is what we need to elect to suggest that a change in trend is possible in gold.
    Martin Armstrong today

    1. Utopia

      Armstrong did not identify this move in gold and his computer could not predict it either. People could however and I was one of them. Personally I have quit reading Armstrong because what he writes lately is mostly pure bunk and a waste of my time. He is another of the copy-paste trend followers. Panic cycle my ass! What tripe.

      1. Anthonyo

        Although he is eccentric and stuck in ancient economy and history; and no one inclduing Socrates can figure out his multi-color matrix circus boxes, or know the meaning of panic cycle, or 2016.25; despite of all that: one could still find nuggets(pun intended) in his longer term cycle predictions.
        Gold has moved too much too fast, from China buying and central banks buying jumped last quarter of last year to diverse reserves away from USD, according to the World bank.

        “Looking ahead, physical demand will continue to be supported by strong central bank purchases, and continued buying of jewelry, bars and coins by households across the world, led by India and China,” said Hewitt. “If we just look at the year to date, the investment case for gold is as strong as ever. While stock markets have wobbled, gold has performed well.”

        “Chinese demand for gold totaled 985 tonnes last year, followed by India on 849 tonnes. They accounted for nearly 45 percent of total global demand, with consumer demand up 2 percent and 1 percent respectively in those countries.”
        http://www.reuters.com/article/us-gold-wgc-idUSKCN0VK114

  74. Hillarys Cattle Futures

    Can hardly wait for the next chart/video … IMO, this humble pie stuff ain’t making nobody any money.

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