120 thoughts on “GOLD’S A-WAVE ADVANCE RESUMES

  1. Gary Post author

    Folks if you were one of those people unable to grasp the concept that there are no losing trades on the long side in a bull market. If you sold at the bottom. Then you need to face the fact that you have no hope of trading a gold bull. You might as well quit now. You are going to buy tops and sell bottoms all the way up.

    Let’s face it there has to be losers in this world. Stick to trading the stock market, or buy real estate, you are not emotionally equipped to make money on a gold bull. Those people are wasting their time with this blog. Nothing I can say or do will change your behavior. You are one of the 90% that never make any money during bull markets.

    If on the other hand you were able to control your emotions, and you hung on to your winning trades then these are the people that can benefit from my videos and charts during this bull market. You are one of the few that are going to make an insane amount of money during this bull.

    1. Dreamer

      Amen Gary……..Amen.

      Yesterday on SINBS (aka cnbc) some guy named Sarge said if Gold hits 1305 today he will increase his gold allocation from 5% to 7.5%. So a 2.5% increase. The other guy said he will hide and find refuge in technology stocks. LOL

      What would the price of gold be if all investors allocated 7.5% of their portfolio to gold.

    2. 1622

      Keep it honest, Gary. Just one week ago, you sold the metals portfolio near the bottom, and then closed the portfolio tracking. Anyone can make mistakes, but own up to them and stop ridiculing all the other “losers”. You still can be right going forward but the recent past is undeniable.

      1. rupp

        That was the initial reaction and how I took it as well, that he sold. Then he clarified afterwards that he never sold, only closed the tracking of his portfolio.

      2. Gary Post author

        No way would I ever sell my positions at the bottom of an intermediate degree correction. Do you think I’m stupid?

        I just closed the model portfolio’s. But I have been very clear all along that I think the ICL bottomed 3 weeks ago. Now people will have to make decisions for themselves. Those that sell at bottoms need to cancel their SMT subscription and go somewhere else. They just make it harder for the 10% to hang on and make money in this bull market.

        1. 1622

          You sold, calculated your returns from the model portfolio, closed the model portfolio and told subs they were on their own. Do we need an FBI investigation to look at your messages? Own up to it, and move on. It was a poorly-timed leveraged trade in the metals and a very emotional response. No need to twist the facts, or start the name-calling again. There’s still a lot that can be made in this bull. You had a good formula in my view, just made a big mistake, and then compounded it by closing the portfolio. I still think you have a pretty good sense of what’s happening in the metals market and are worth following. Good luck.

          1. duckwhorocks1

            Give it up 1622. getting Gary to do a Mea Cupla is like expecting Donald Trump to say he has a small penis. Not gonna happen.
            Gary keeps taunting people about how many millionaires and billionaires are traders….I think he forgets that not a single one sells a newsletter.

        2. JB

          That’s not how I interpreted Gary’s video. He clearly said that gold bottom. His only fault was he was a little early on the miners but he was right on the gold price. He even mentioned in one of his videos that gold had a last kiss good bye before going up. He was right.

    3. Gary Post author

      I think someone owes me a burrito. Clearly metals are outperforming oil. In fact oil may be moving down into an intermediate degree correction along with stocks.

      1. duckwhorocks1

        Are you delusional?
        Do you even hear yourself through your delusional of grandeur?
        I said “oil stocks will outperform gold stocks over the next 12 months although a near term pullback in the ratio is highly probable”.

        1. Robert

          Gary is good but I don’t like him calling ppl who missed this move as losers. Anyone who get this up wave had more luck than anything. There was no clear bottom and gold was flagging/crawling in a bearish manner. Matter of fact gold would have gone lower if the FBI news did not come out. This whole move is based on trump speculation winning election.

        2. ltr

          Talk about loser, he has a jnug position at $23 unless he averaged down. You called that perfect entry? You are like 40+% down now instead of knowing when it bottoms and guess as long as you go. You quit the other day.

  2. chrisG

    lol, i just know. KISS. Yet many like to complicate matters. “The next big move wins”. Yet many wanna guess, Cycle, this, cycle that. Bicycle here, tricycle there. What dont be too happy, yesterday did not close yet. Well, next , they will say, today or this month or this year havent closed yet. Lol

    Look at USD, look at yen, look at sky, look at sea. Dudes, sometimes market is complicated, sometimes it is just simple. Like i said, the next big move wins. The big move was up. So… please, please doubt somemore. Dont buy. Short this rally please. ๐Ÿ˜‰ ๐Ÿ˜‰

    1. Gary Post author

      Is it that important to you to time a perfect entry?

      There are no losing trades on the long side in a bull market.

  3. Alexandru Popovici

    It’s a relieving thought to know there are strong-willed bulls.
    It reinforces my plan to short gold post-FED release ๐Ÿ™‚

    Gold bulls are confident, USDJPY has retraced almost 50%, USX about 40% – it’s great !

    1. bill

      Ill gladly take your money I already own Pedestrians share ha ha ha my he’s been quiet through two postings….deer in the headlights no doubt.

        1. bill

          Well you said and I quote ” just wait come Monday ” then Monday came and all I heard was crickets chirping …

          1. Pedestrian

            Bill, GDX has turned back down almost to perfection. You could not have asked for a better reversal. Take a look at a daily chart and just make the simplest observation that the right hand side of the chart is a mirror of the left.

            Want to guess what that means is coming next?

  4. Alexandru Popovici

    Bill, it’s been extremely risky running [gold] stocks while knowing overall stock market would correct – and it has corrected.

    I would have gladly kept my NEM stock unless I knew stock market correction lied ahead.
    In the long run, running such risky trades kills ones equity eventually.

  5. Dday

    Good luck to you, i respect your confidence and hope it works out. I’m long silver/gold since oversold conditions, I bought when the macd crossed over a couple of weeks back. Looking good so far. So four months time $1550 gold its a bold call….

  6. Dreamer

    All I read here from most posters the past week was that thru their technical analysis certainty was that 1275 would cap this upward corrective move and gold would down to 1250 on its way lower.

  7. Alexandru Popovici

    Short T-bonds with a full position – the moment I was saying on Monday I was waiting for today, the signal to short treasuries has come.

  8. Alexandru Popovici

    Robert, no, I would not short gold/miners now.
    I am 25% short treasuries and 75% cash.
    As I said above, I will short on the strength in gold to be delivered post-FED no-news announcement at 2.00PM EST.

  9. ras

    Encouraging follow through. Intermediate advance starts in earnest. No need for bottom fishing and no need for experiencing huge draw downs by fighting price during intermediate declines. Exercising patience and waiting for a weekly buy signal, one can do very well. Yesterday was the weekly critical turning point with a signal, hitting like a ton of bricks.

    Many letter writers and marketers tend to be early because of competitive pressures. They need to distinguish themselves from their competitors with a specific slant. That is understandable. It is just as important for a letter writer to get in his subscribers as close to a low as possible as it is for him to exercise proper fiduciary responsibility so that his subscribers are spared huge draw downs. Just my opinion, please feel free to disagree. Cheers.

  10. Alexandru Popovici

    GARY, yes, I had bought NEM almost at the bottom but not there -> it had a lower low a couple of days after but I bailed out with no loss before the lower low when I realized that the fall of the stock market was imminent and, AS I WAS COMMENTING AT THE TIME, I did not know, I was not sure what effect that fall of stocks would have on mining stocks…sometimes they fall alongside all stocks…it happens.

  11. Gary Post author

    Folks those of you who continue to believe that the gold market trades freely will continue to get fleeced.

    There is a reason the miners dipped down last week and it has nothing to do with any natural corrective move. The same thing happened last week that happened in January.

    One or two big banks forced the market down so that nervous longs would panic and sell their shares, allowing the banks to accumulate even larger positions ahead of the next run higher.

    If you think you can get an edge by watching technical indicators, trend lines, support and resistance zones, etc. you are sadly mistaken.

    Big money can paint these charts to look however they want them to look causing traders to lean the wrong direction at the wrong time.

    All you need to know is that this is a bull market. If the banks were ready to release gold last winter then you know you have protection as they aren’t going to turn around and try to reignite the bear market again. They accomplished their goal. They drove gold back down to $1000 and created one of the most destructive bear markets in history in miners. They are now going to ride what will be the largest bull market in history. So quit worrying about corrections or timing perfect entries.

    The banks are on our side now. Be smart enough to follow them as they drive this bull market higher, and for heavens sake don’t be stupid enough to sell at bottoms when these guys try to steal your shares.

        1. Pedestrian

          I agree with your humorous assessment Duck. Notice the fat outside reversal bars on GDX and GDXJ just for starters. They both peaked just a little above their 50’s so I guess the fat lady has not sung quite yet. We will know more tomorrow.

  12. Gary Post author

    All one has to do is turn off their computer and look at it again 3-4 months from now and you will have made a ton of money. It is a bull market after all, and there are no losing trades on the long side in a bull market (although there are always plenty of losers, about 90% to be exact).

    I will be laughing my ass off at all the trolls who came on here over the last couple of months.

    He who laughs last laughs the loudest. Not only will we be laughing the loudest but we will also have made the most money even though we entered too early. That’s the beauty of a bull market, you don’t have to time every trade perfectly to make sick money.

  13. Dreamer

    Gary, looks like 1243.20 was the undercut low from the 1250 level when others were calling for lower.

    Your chart seems to verify that.

    1. Gary Post author

      The banks managed to knock everyone out with the attack on that Tuesday morning. Everyone was crying and stopping out. To do so would have been to stop out at almost the exact bottom and give ones shares and ounces to the banks at the bottom.

      I’ll say it again: All one has to do to make sick money is turn off their computer for the next 3-4 months and then turn it back on when gold reaches 1500.

      In a bull market there are no losing trades on the long side of the market.

        1. Pedestrian

          Just so I know, which ones are the trolls? You don’t mean bears I hope because that’s just the other side of a trade.

          1. Goldlion78

            He means people like you. He handed you the bottom on a silver platter, yet everyone wanted to come up with reasons why he was wrong.

            I don’t even have a subscription yet and have made good bank on his call since I don’t have an ego problem like most of the trolls on here do.

          2. Pedestrian

            I am bullish gold. Maybe you don’t read my posts too carefully. I base it on a Yen indicator that has not quite triggered yet so my timing band is just a little different. That’s all. Disagreeing on when gold is ready for prime time is not really the same as being a troll though. Hopefully you know the difference.

          3. Pedestrian

            As an aside GoldLion, I handed you a perfect turn on GDX on a silver platter yesterday when I told you it would go South at 26.00 and in fact it reversed intraday at precisely at 25.91 meaning I was off by a mere 9 cents. Not bad if you ask me but what do i know since you called me a troll suggesting I am just trying to be irritating instead of helpful.

            Maybe I know a thing or two about technicals. Just maybe. Pay attention.

  14. Roland Z

    Gary, I got in miners in june and in the ICL 3 weeks ago and want to do the old turkey. You just mentioned in your video to not sell until the next resistance zone. Its time to sell then? Because me I would like to keep them for 3 to 5 years how you said in other videos. To run until the end of the bull market? Its still your opinion?
    Thank you very much!!!
    PS: Sorry for my english but I cant find analyst like you Gary who writes in german and has your point of view

    1. Gary Post author

      The whole point of Old Turkey is to move the trade into the capital gains tax rate.

      You shouldn’t sell Old turkey positions until we are well into the bubble phase and that’s probably 4-5 years away.

  15. Alexandru Popovici

    As I anticipated above, GDX produced a higher high at 25.93 from 25.78 before rolling over.
    Now it stands at 25.66…

    Whoever thinks that these forecasts are idiotic can do it at their peril.
    Though, GDX may still make a higher high on FED-driven volatility in 2h 23′ but this is of lower probability to occur.
    SMART PEOPLE WOULD DUMP ALL THEIR P.M./MINERS AT LEAST [if not also waiting to short them]!

  16. victor

    Anil Mangal told to sell metals on this strength this week, I’m up to neck in metals and shorting oil since 51.
    it’s inching to close oil short though… should re-trace back to 47 I think…

      1. victor

        do you really want to play this game Robert? What if overnight it jumps on short covering? What are you going to do? I play it before, lost eventually, not now with that scary historic election, I better go to prepare backyard for a winter…

  17. GodoftheMachine

    Long time lurker and non commenter.

    I just wanted to say thank you Gary for all that you do and thank you as well for not trying to monetize everything on your site. I find your information accurate and useful and I have made several investment decisions based on what you have said/written and my own core trading philosophies.

    PS And to all those pussies that come on here and complain…there is always Huffington Post.

  18. Dreamer

    Gary, Greg Hunter interviewed Jim Rickards at his website. Rickards said the following:

    Rickards predicts a complete lock down of the global financial system for โ€œat least weeks and possibly months.โ€ Rickards contends, โ€œDefinitely weeks and perhaps months, and it could turn into Mad Max. It could turn into what I call money riots with people burning down banks, but the elites are ready for that also. . . . What they have done because you canโ€™t turn the military into police, they turned the police into military. As the money situation gets worse, states and elites will not go down without a fight.โ€

    Gary, what do you think of his comment on closing the markets for weeks and perhaps months?

      1. Dday

        So basically he learnt nothing from making outlandish predictions, that’s what i take from his latest comments.

        1. Pedestrian

          He is crazier every time he makes a new prediction. I am just amazed at the crazy shit he keeps saying. WOW,

  19. Don

    Alex, I am not adding to my short TLT position just yet. TLT looks like it wants to go up, in my opinion. I think Gary is going to be wishing he never said not to short the stock market. Big drop is in the cards.

  20. Alexandru Popovici

    Bye, bye, GOLD/MINERS BULLS !
    Thank you for buying my shorts !

    DCL in stocks is here.

    Nothing more worth seeing today.
    Good night!

    PS: If I were short crude oil, I would have already covered my short now. This is the sequel of my comment here on OCT19 that I would have initiated my short at $51 (please check it out in the history of the blog, if curious).

    1. Robert

      We need a DCL in the USD for gold and miners to correct back down. USD might sell off more into Friday

      1. Pedestrian

        He picked off the top Riskybiscuit. What’s wrong with that? You might learn something from him. His instincts are excellent.

        1. riskybisket

          Pedestrian, nothing wrong with his instincts. It’s the gloating I can’t stand.

          Btw, almost every good metals trader I knew was expecting a reversal in the short-term trend after Fed minutes (when Gold overlapped wave 1 low)

          1. Pedestrian

            Guess I don’t know about that part but I will find out bit by bit. Some of you guys seem kind of touchy though. No offense intended of course. I prefer objectivity to emotion if given the choice.

  21. Alexandru Popovici

    Before closing ๐Ÿ™‚
    bought also a stake of 18% in the “rubbish” YELP at 35.8 – marvelous stock

    Robert, nope, that data is already digested by market into price due to a lower-than-expected ADP report ๐Ÿ˜‰
    so…don’t worry ๐Ÿ™‚
    Nighty, night

      1. Pedestrian

        Depends how you were playing it Goldi. Dreamer is referring to the HUI which is just an index so it doesn’t really do justice to what was happening to leveraged bets, Options, 3X ETF’s or specific stocks. For example, NUGT moved 14% up and down intraday and that is only on the margin of how levered up you might get. So yeah, it was a big deal if you were on the wrong side of it.

    1. rupp

      1450 is within reach, in the next 6 months. 1550 will surprise me in that time frame. Not saying it wont happen though.

  22. Alexandru Popovici

    CARB –> just bought 10% in it too. Just 10% because it is due to report its Q-results tomorrow.

    I am 91% invested overall from 0% 1h and a bit ago.

    Could not go to sleep ๐Ÿ™‚

  23. Alexandru Popovici

    DON, shorting treasuries now is optimum, but it’s good you already have a position there. Good job!

    PEDESTRIAN, thank you!

  24. Alexandru Popovici

    GARY, CHRIS, was I somehow saying about a shakeout of gold and miners at their 10Wma and of the weekly down trend line ??!!

    No need to answer, folks, the question is rhetorical ๐Ÿ™‚

    1. chrisG

      Anybody could see gold resistance is at 1305 ish. Textbook style resistance. TA 101. Gold is only down $10 from from recent high, but , but, but $50 above the low. So let more cards come out of the deck.

  25. Alexandru Popovici

    ZKOT, here we join hands [again] on the golden slope down to a lower low, to gold’s and miners’ YCL ๐Ÿ™‚

  26. Alexandru Popovici

    People, what we have here is the ICL in stocks I was tweeting about on Monday.

    Now, the other part of my tweet is to occur: THE MASSIVE RISE IN STOCKS!
    I know Gary will say it’s the witches supporting Hillary and manipulating markets all the time, but I tell you beforehand and after I am loaded with stocks: that will not be the reason!

    EXPECT THE NEXT INTERMEDIARY CYCLE TO BE VERY SHORT !
    A LOWER LOW IS STILL DUE but..first let’s enjoy the big dead-cat bounce ahead ๐Ÿ™‚

  27. Robert

    Finally soon time to start buying miners. I knew this move was fish all based on FBI and Trump speculation

    1. Robert

      Thanks Surf. I believe we have 2 more weeks for gold daily cycle bottom. Right translated or lower lows thats the question? Will be buying miners on dips next week

  28. Gary Post author

    Folks this is not the daily cycle top in gold, and it’s not the daily cycle top in the euro. Both are still weeks away.

    Like I said: these things never change. 90% of traders never make a dime during a bull market because they are unable to see the and trade the big picture.

    1500-1550 within the next 3-4 months.

    GDX has already recovered most of today’s loss in the after hours.

    1. Robert

      Gary, I do look at bigger picture. Just look at the daily candle today on GDX. Bearish dark cloud with volume higher than any of the updays going into today’s top. U don’t just get an instant reversal from that. We might head higher but surely we will go lower in miners first.

      1. Gary Post author

        Wasn’t that the same thing technicians were saying just a couple of days ago right before miners reversed and rallied 10%?

        This is how 90% of traders sabotage themselves trying to trade the wiggles. In bull markets the surprises come on the upside. All one has to do is hang on until gold reaches 1500-1550 and then rake in huge profits.

      2. vanbc

        Hi, Robert,
        You mean daily lower or continue ICL? I think it is sure daily lower will be coming. not be sure ICL. Please back to review June 16 daily candle in GLD.SLV, GDX.

        1. Robert

          Daily. Not sure on ICL either it could alrdy be in as Gary has said but I believe more dip still coming

    2. Surf City

      Gary, The USD daily cycle will be extremely right translated and the DCL should be fairly short as it is late in the cycle count The DCL, in fact, may have been today even though there was no trend line break.

      The Fed announcement should have caused the dollar to sell off but instead it rallied into the close so I suspect that the “Fed news” was backed into the recent decline.

    1. Pedestrian

      Figures. And the people who keep being wrong just can’t say enough.

      Look Goldilocks, there is a major currency event that is already in progress and its entirely possible gold will be smashed right back to the 2016 lows or close to it in the process. I am not saying that will happen guaranteed of course because its never easy to know exactly how the repercussions will play out in the markets. I will tell you this though, the dollar is about to go up so fast that heads will spin like bloody tops around here and the euro is going to drop like a rock at the same time. Near as I can tell all of this will unfold over the next five months with the euro losing as much as 25% of its value by April 2017 as it crashes all the way back to the .85 region. We are talking a very serious unfolding of deflationary forces on the dollar though and that initial move up should have a very negative effect on gold (in dollar terms of course). It will have a very positive effect on gold in euro terms on the other hand but that’s worthless to most of us who keep our accounts in greenbacks. So I don’t think Alex talks too much at all. For some reason he is tuned in to what the market is already be telling us. Unless gold and the dollar completely uncouple from their typical inverse relationship then gold is going to get hurt and so will the miners. Gary is way off in his assessment of both the dollar and euro based on his recent comments but so are the majority of people. I would just say to expect the unexpected and don’t delay if the unraveling is as sharp and obvious as I am suggesting. A great many people are going to lose fortunes during this next period of time. Almost nobody is prepared. The biggest currency event in years could get underway at any moment now and maybe its the US elections that triggers it. I wish I knew more. Had it not been for Brexit though we would already be knee deep in a dollar at 1.10 or more but for some odd reason that has interrupted the pattern. So brace yourself. If the dollar soars in the next short while Alex will be having the laughs at everyone’s expense around here.

  29. chrisG

    Lol, stock market is in trouble and some of u experts can’t see it. I have been a bull for a long while. But I know when to be defensive. Internals have already deteriorated big time. Gold already has shown it’s hand. 70% good, 30% maybe not so. Some of you still fight it. Please fight more;)

  30. Don

    It looks to me that the dollar is going up over the next few months, not down. Gold will go up with it, confounding all those who think the correlation should be negative. I’ve seen this play before.

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