Like our new Facebook page to stay current on all things Smart Money Tracker
It looks like BTC will hit 10,000 this week. Gary covers everything in this video that he has some knowledge around. But after reading his posts, he clearly doesn’t get BitCoin. He will be right as to corrections, but the cryptos will survive. They are the future of cash.
I guarantee I will be right. When the bubble pops bitcoin is going to lose 90-95% of its value. Anyone that bought or is buying after June of 2017 will end up losing everything in this market.
This is just how people think when they are caught in a bubble. They see price ramping higher and higher everyday and they think it means price will never come down.
They are too unsophisticated to realize that sustainable bull markets don’t behave this way. They take 3 steps forward and then 1 or 2 steps back. They climb a wall of worry. As long as price remains in this pattern then the bull is on a sustainable path higher.
When it starts just ramping higher and higher day after day that’s when things become dangerous. That’s the sign a final top is approaching. But for dumb money they see this as a sign that price will never come down.
When gold started behaving this way in late 2011 I knew it was a sign of bad things to come and we got out. Gold bugs on the other hand were pissing themselves expecting price to continue up indefinitely. They got caught at the top and lost big.
Now we are seeing the same irrational behavior from the crypto bugs. The equate aggressively rising price to mean only good things are coming. They are completely clueless that this is the worst thing that could happen. It means the wall of worry is gone. It means the top is near and everyone is about to lose everything.
Sorry no 20K or 10K, or even 5K an ounce for gold bugs. NOT with Bitcoin around and getting a second wind now.
Bitcoin has been created to combat astronomical peak prices in gold.
Bitcoin is a western government/megabanks creation in disguise as a ‘rebellious’ currency.
The reasons are two-fold. One is to prevent major currencies from total collapse first and disallowing gold prices to go to Heights Unknown.
Bitcoin is doing just that, a great job of siphoning liquidity out of gold and into itself.
The second reason is to float a digital currency and get people used to the idea.
Later after Bitcoin, the western governments will come up with an official Digital Currency to replace evenentually all paper money and cash currencies(not experimental like Bitcoin).
The reason: They want to TAX the hell out of you in EVERY SINGLE digital trade you make with your money.
No more under the table CASH transactions. Done.
As for Bitcoin’s fate, 2 scenarios:
1) Bitcoin continues to soar to Heights Unknown siphoning money out of the “other” rebellion
currency: gold. Under this scenario, gold will be lucky if it gets much more above its previous high at $1923/oz……But allowing for peaks, gold may reach 2500-3000? and then the Fat Lady sings for it.
2) Bitcoin goes on until it crashes in flames…Now gold will benefit from this?? My answer: MAY BE.
Why MAY BE? Because all or most the “alternative, angry, rebellious, marginal” investors in Bitcoin have now lost their shirts in the Bitcoin crash>>>NO money or liquidity left to go into Gold.
So you see how bitcoin in either case may be causing death blow to gold’s Lofty price predictions.
Personally, If I owned a fair amount of gold and silver (physical), and If the old highs of gold $1923 and silver $50+ are hit again, I will be looking for an opportunity to unload gradually as they may or may not go up to 2500-3000.
But to me with Bitcoin around, gold’s fate is quite limited.
What is your take on the sentiment for Gold at this point? I am seeing many more oil bulls and those who are normally bullish on PM stocks are very subdued at this point.
Also noticed from reading many sites that quite a few are taking notice of the detatchment / reformulation between oil,gold, silver and the actual equities.
You are absolutely on the money with regard to the break off between the oil rally and the oil stocks.
Intermediate sentiment is dead neutral at 53% bulls.
I’m hesitant to try to pick a bottom with sentiment neutral like that.
132% above the 200 DMA as of today.
Only a complete imbecile would buy something stretched that far above the long term mean.
I hate to say it, but I will. I really will. Here it goes… Gary, this time it’s different.
(This is like buying real estate in the Bay Area in the 1960’s knowing what will happen in 50 years.)
Famous last words… “this time is different”.
The question is can you hang on through a 90-95% drawdown that lasts for 10-15 years? Because that’s what happens when a bubble bursts and you clearly have no ability to control greed so you are going to get caught when the collapse comes.
You maybe right about the long term viability but I seriously doubt you will be able to hang on long enough to survive and recover from the crash that’s coming.
Like the automobile, fax machine, and internet always naysayers and others will welcome it as the future. The tech sector dropped after a massive correction and gave us what: Google , Amazon etc.
What will happen with Bitcoin?
Will Tesla fold?
Will Trump be impeached?
No answer from discussion it’s the biased screaming at the biased. The market will decide.
The automobile and tech sector are perfect examples of what happens. The initial bubble collapses , the weak get weeded out, and then it takes years to recover and become sustainable. It took 15 for the tech bubble to recover. If cryptos are viable it will take at least 10-15 years to recover once the bubble implodes. If they aren’t viable then they will go into the trash heap with the other failed experiments.
One thing is true for sure … this is an historic period and the stories will be told for centuries to come. We are living in times of bubbles the likes of which are rarely seen. Imagine living through the Tulip Mania and listening to the players. It’s fun, entertaining, and informative. Watch this from the 15 minute mark.
I have to wonder if blockchain is a solution without a problem.
3D printing. The same thing. Cool concept, but do we really need to step backwards and slow down the manufacturing process? Didn’t the invention of mass production speed up the whole production process? Yes it has some applications like perhaps printing organs, or one of a kind items. But on a large scale 3D printing was more or less a solution without a problem. It didn’t take the market long to figure that out either.
Basically block chain just boils down to a decentralized ledger system. I have to ask, is there something so wrong with the current centralized system that it needs an overhaul, or is this another solution without a problem?
I guess we’ll know in 10 years.
It seems to boil down to disintermediation. Eliminating human labor while maintaining or growing output has a positive long term effect on quality of life (all else remaining equal). Smart contracts can disintermediate attorneys as one example, or government employees as another. Civic is a blockcahin application and it has the potential to provide near perfect identification verification while at the same time eliminating multiple huge data centers containing all of our private sensitive information. Just one example, there are infinite we can’t even imagine yet.
Do we have a problem with identification verification?
I never have.
Isn’t the point of having one central data center so confidential information can be kept private? Do we really want all our private information floating around on the internet for anyone to see?
Again I have to wonder if we haven’t created a solution to a problem that doesn’t exist.
The Equifax Data Breach is but one example of hundreds. Our private data is extremely vulnerable to hackers when stored on vulnerable hard drives all around the world, many times over. With Civic the data is kept by you and encrypted into an address, sort of like bitcoin. If smart people can safely store billions on these personal private keys you know that private info is very safe there as well. Example: Schwab needs to verify your identity. Rather than keep huge amounts of your private data on their servers they let you keep it in your own encrypted “wallet”. When needed they spend Civic Tokens on the protocol to access your info, autonomously and with algorithms, to verify you. No human gets your info., AI gives a go or no go through logic circuits. You interact with the protocol on your Civic App using your smartphone with 2FA and other firewalls. Just go to their website and you’ll start to understand the implications and potential this protocol has to free us from private data insecurity.
“I have to wonder if blockchain is a solution without a problem.”
I will give you my overly simplistic take on the blockchain :
Many of those caught up in it’s frenzy see it as a noose to corral the bankers and politicians to keep them honest — but at the end of the day the blockchain will be used to hang us all instead.
During my 23 plus years working in law enforcement I used to tell commercial business owners all the time — You’re new CCTV systems are great…..but remember, all they really do is keep an honest man honest. They’ll never turn a crook into an honest man.
True. None of those btc lovers understands blockchain. They repeat what they red like a parrot. They string together difficult words but their understanding approaches zero.
AMZN vs. BTCN chart:
Take away. If BTC is over extended and ready for a fall then so is AMZN. Think the SM and BTC now correlated.
The one serious flaw in your charts is that the AMZN chart is a multi year chart. Bitcoin is a daily cycle.
The gains in AMZN have occurred over a 20 year spread. The exponential gains in bitcoin have occurred in less than one year.
AMZN is 23% above it’s 200 DMA.
Bitcoin is 132% above it’s 200 DMA.
The wall of worry is intact in AMZN.
The wall of worry has collapsed in bitcoin.
Yep, your right about the charts time frames.
However, the smart money seems to be selling the rally:
WMT! FB!, AMZN. Don’t see this as a vote of confidence in the sm beyond the 1st of the year.
Insiders sell for all kinds of reasons. It’s a completely worthless tool for trying to time tops.
On the other hand insiders buy for one reason and one reason only. That is a very good tool for timing bottoms
Well aware. The point being that if one looks below the surface there are growing signs that the market may soon run out of juice. Institutional window dressing inleadership stocks should offset the insiders till the end of the year.
After that well, a difficult first half of 18? A rally of this magnitude is deserving of a sizable gut check. Think BTC rolls over in tandem with the SM. Could be dead wrong but we all have to live with ourselves.
Bitcoin went $1,000 in a single day! That is insane and unsustainable. I would be very surprised if the bubble didn’t pop before the end of year. I really don’t understand how anybody can think an instrument with so much volatility can be used as currency. Right now it’s only an speculative instrument based on air.
Schedule in being “very surprised” by the bubble not popping in 2017.
You are going to need smelling salts when you see it this spring lol.
I am looking at Bitcoins tombstone right now and it says x of xxx 2018.
… oh it’s a full moon too, cool …
Gary, why the gold just hanging there without the breakdown you predicted before?
Gary has said that in this phase surprises will be the sideways. And, as usual he is right.
Wonder who has insight for this coming week on Gold?
Yes, I watched the video, thanks, but no likely direction is given.
Yen and Euro seem to go climbing, USD seems to go diving, gold may hike a little bit from here to FOMC to then fall for the last master undercut and then slowly hike to the moon.
Perhaps OIL and Gold will top by FOMC to retrace a bit.
Who knows better?
I asked my crystal ball and it told me to be patient, that gold will go sideways, to go up a bit prior to FOMC, to
do an undercut, and to finally to take off.
Why not Bitcoin? Why gold?
Bitcoin at 9711! That is vertical up alright. Who said here that it will reach 10000 before nasdaq? Looks like it will be 20k before the nasdaq reaches 10k.
Isn’t it something? Congratulations Roy, Americano and others who own this beauty.
Do you really think any of those guys are holding Bitcoin?
Yes. I do. And, I feel good for them. I wish they make a bundle and use it to enjoy LIFE ,and help others. Amen!
Not sure if they are or not, but I have seen the question asked many times – how many bitcoin do you have? and the response has been crickets.
Ok….so it’s now confirmed Nada is with IRS.
Right. So my intentions are.. To determine how many bitcoin you have.. I subpoena SMT blog for your IP address, then I subpoena your ISP to determine your real identity and then I do exactly what with that information?
With that info you’d probably tease us for being…..
Just because we value modesty. 😉
Funny.. but to be fair.. I never asked anyone how many bitcoin they had. I was highlighting the fact that I never saw anyone answer.
Why wouldn’t any of them hold some BC?
And there are other ways to profit from BC without actually holding it, not just GBTC.
These Swedish ETN’s are tracking Ether and BC. They are following the underlying asset way better than GBTC.
There is a Fibonacci seq present in BTC, this is most likely a blow off top imo.
It’s very similar to the IT-Mania 99/00 on average my portfolio was up 720% 🙂 but I lost most of it in the crash …
As I stated in Friday, Alex would fade into the shadows after another round of bad currency calls;
November 24, 2017 at 1:35 am
1.1881 is so close for eur & USDJPY has just set swing low after a 28-day DC, and oil is playing with its 200Wma –> gold’s decline to ICL is here just as the last gasp of the risk-on mood for stocks and commodities.
November 24, 2017 at 5:08 am
Sorry, but much too early for ICL in gold. I have a target of 108 for USDJPY before this correction is over. Your “swing low” will be invalidated shortly and you can disappear for a few months then pop back up and make some more horrible currency calls.
There is a new Currency call coming Dollar/BTC/Swissy …
sorry for the 911 call Nada that turned out to be false or misunderstood .. a new Geopolitical Violence peak coming at or around the 10th of Dec, thats when things is about to turnaround, an inflection point.
I am in waiting mode for Gary’s call during summer. To touch the bottom of the golden triangle.
I will stick with the technicals. I will leave the violence peaks and the moons and goochers talk for others. Gap fill as I have said for about 3 months now and ICL in late Jan.
It’s concerning that with both the euro and yen confirming new intermediate advances underway, and the dollar on its way down to break through the megaphone bottom, that gold is on day 35 and still hasn’t confirmed a right translated cycle.
It seems uncomfortably clear that forces are being applied to the metals market to keep it suppressed.
This is why I’m reluctant to trade the metals right now. There are some powerful players holding gold down. Once the euro starts down into its next DCL gold could be set up for a beating when it should already be well above 1308 and possibly as high as 1340 by now.
Avi calling for greenback to hold 91.70, then strongly rally upwards. Hitting support zone now. Perhaps that’s when we will see our bloodbath phase ?
Or perhaps gold will blow past 1308 today.
I suspect Avi will be wrong on his dollar analysis.
His Monday morning calls are always spot on… but then again none of us have the luxury of a time machine now do we?
After the fact he will always claim to have traded the market perfectly. With multiple wave counts one of them has to play out.
Watch a couple of months from now he will have claimed to call the dollar perfectly no matter what happens.
He’s calling for a drop to 2400 in the SPX in January.
He’s going to be wrong here as well. 2400 would be a failed intermediate cycle. This intermediate cycle is already right translated, so the odds of it producing a failed intermediate cycle are small.
Good trading day to all.
It seems that today will be a gold good day.
Let us make money.
Still early, but miners are flat.
Looking good. 18 trading days remain before I see a top, in my cycle analysis.
And just like that, new highs for the S&P. European and Asian weakness are irrelevant and a good reason to buy American over valued but under priced stocks. Trump is making America great again. For sure.
SM close to avi’s 2611 on SPX 🙁 I would not want to attempt shorting. Almost as mad as trying to short bitcoin. That 10k in BTC will be here shortly.
Gottam make sure gold doesn’t cross that $1300 mark (spot, of course). Smash down time. Miners are not having fun.
I am not sure about manipulation, but it is strong resistance. If you notice on chart, it hit resistance while attempting to break above triangle (white dotted lines). Seems completely normal to me.
Is anyone short the SM? Anybody at all?
Hey guys, let me share an EW count I made this weekend; it goes more or less in the same direction as Gary’s SM forcast, except it is less “parabolic” so to speak. 2615 on SPX seems like a good spot to have a correction down to a “sub-wave 4 of 3” and we are few points away from it, so it could be now for a correction down or later near the end of year, where I put the numbers on the time axis are pure guess. But now or later it means that we “may” have another opportunity to buy stock indices around 2500 SPX soon…
Carlvan, you talk so much like AVI, even using useless quotation marks in a bad grammatical manner! You must follow him closely.
I noticed the same thing about AVI’s style. He uses quotation marks all the time when he is nott actually quoting anyone. He supposed to be a lawyer but his writing style is terrible. I don’t pay much attention to his cover-all-the-bases with multple scenarios so he can claim to be always right.
You’re welcome man, no need to thank me indeed for sharing my ideas, and so sorry my English is not perfect enough for you, I am a poor French-speaking guy in poor EU… but fortunately this blog has higher intelligences such as you, to counterbalance my stupidity ;->
No problem carlvan. I thought maybe you might be AVI in disguise. He loves to post on the other’s blogs .
Ok then, Don. No I am not AVI (don’t know who is this guy your are all talking about BTW) and, unlike him, I have nothing to sell. Just wanted to share my amateur EW count…
EGPT is up 3.8%. Terrorist attacks have become a good thing for stock markets. The more they kill, the higher the local market goes.
See, that’s intelligence and respect speaking aloud – thank you for this very fine analysis of yours
Actually carlvan, Don is right, Stock markets have become so manipulated that terrorist attacks are almost always followed by rallies, maybe to calm the people. Who knows why? It’s perverse but true.
AVI’s anaysis is sort of like me saying that the market is going to be up today (because that’s the norm) but if by chance it crosses below yesterday’s close, it might close down. At the end of the day I will tell you how I nailed it, no matter how it ends. That’s AVI, unlike Gary who is either right, wrong or changes his calls as needed to fit what ever is happening , aka adapting to market conditions.
“changes his calls as needed to fit”…. LOL
I am not going to watch this market all day. It will trade within a narrow range all day, like it usually does and gold stocks will struggle, as they usually do. see you all near the close.
I knew it. I knew it………… Gold is being manipulated again. …. Thank you for letting us know, Gary.
Is that clear folks? Or, is there still some misunderstanding?
Well its a frustrating trade to hold. Less is more this late in the IC, but it appears the comex boys have to get their entries just right before they are satisfied? I dunno if any of that is true, but I still believe bitcoin has taking a lot of speculators out of the game, that otherwise would have been in gold.
Amazon’s chart is taking on that vertical look. Hard to believe but someone must think it’s a hot stock to own.
Here is the daily chart.
AVI is making big time. He says the stock market “may” be approaching a “top” but the S&P is headed to 3000 after a “reset”. It’s not clear who he is quoting. https://www.marketwatch.com/story/avi-gilburt-im-finally-expecting-a-top-in-us-stocks-2017-11
JJ: are you still watching? The S&P did drop below yesterday’s close, just like you said it might. You should start your own news letter.
For the average joe it takes a life time to become someone in a given field.
Those average joes that hope from field to field never excel in anything but in being grasshoppers.
Same in this business, hoping from security to security leads one to loses.
By focusing in one or two securities on leans the odds in favor.
This ANT is done for today.
A preaching ant. Everything I think I have seen it all.. Have a good day Goild. Time to surround oneself with beautiful women and wine for the rest of the day.
Gold is taking another shot at breaking through;
bitcoin @9777! Any takers? Or, are we still in denial? Vertically up!
In 2012 someone was very insistent that I “invest” $800 in bitcoins and I thought he was nuts. I was 9.9999999999% sure that it was a losing proposition. hihihihi! Tells you how smart I am? And, this is not the only opportunity that I missed to make a BIG bundle. In Gary’s terminology I am in the 99% category who never listen to good advise to make great deal of money. LOL!
How about semis? I guess no worry. Nasdaq will be at 10k in less than 8 months and we will all make a BUNDLE.
Nasdaq does not have 8 months to make 10k. The statement was 6 months duration that was made 2 months ago.
The bet I made with Goild was 10,000 (on the Nasdaq composite) by July.
You are probably right. If my memory serves me well, it was 8 months (6? does it really matter that much?). I have to admit I don’t have such a great memory.
There’s no way to go back in time and get on the bitcoin bubble early. You can avoid getting caught when the bubble pops though.
There is still plenty of time to get in before the stock bubble turns parabolic.
We should get an ICL degree pullback in January or early February.
Gary you could turn out to be right. The jury is still out.
But, what has that to do with the present? The vertical movement of bitcoin is a REALITY. It is a beauty to be appreciated. A life time event. Could very well be many life events.
Gary, relax. It does not diminish your capabilities. Please give us the permission to enjoy. I for one do not hold any bitcoin and I don’t plan to buy any in near future. But, I find this drama really enjoyable. No way am I going to miss this one, specially when I have missed the buck.
What does that mean? “No way you are going to miss this one”?
You already missed the bitcoin bubble. Do you mean you are now going to start buying? You just said you weren’t.
“What does that mean? “No way you are going to miss this one”?”
The drama. My friend the drama. I am enjoying the drama. My should I miss it?
Gary I try to make money to enjoy. Why would I miss some fun when it is free, just because I did not make any money?
You are right I don’t have any bitcoin and I am not courageous enough to by it under present conditions. But, it certainly is fun to watch this event. I don’t need to defend my “stupidity” that I did not buy it by using stupid arguments that this investment is not as good as some other “smart” investment. I don’t decide what is good or bad. The MARKET does. And, the market is always right. At present the market says bitcoin is the best investment ever. Amen!
*Why should I miss it?
The market isn’t telling me that bitcoin is the best investment ever. The market is telling me that the wall of worry has evaporated and this is the most dangerous investment ever.
Tell me was the market telling traders that gold was the best investment ever…
Oh! Forgot! Gold is one of my longest hold. I am not sure if I have lost much. But, I am sure that I haven’t made much. Had it not been for some DULL dividend paying stocks and some slowly creeping up stocks I would never made any money. Whenever I tried to be smart, I lost and sometimes I lost big.
So if you bitcoiners won’t listen to Gary maybe you’ll listen to one of the all-time market pros “Art Cashin” who this morning said that bitcoin had gone parabolic and that usually never ends well. Keep on thinking it will be at 25,000 year end or whatever monkey business you have in your head. Be smart and take profits. Pigs get slaughtered.
Incredible! That dammed thing went up 7.5% in a day!!!!!!!!!! And, you sit here and pray for the nasdaq to go up 1% in a week. It goes up 2% and then it comes down 1.6% next day and you are all excited while you can’t enjoy something what is happening to bitcoin!!!
All you have to say: ONE DAY investors in bitcoin will lose big and they keep on mining money minting money, no pun intended.
If one had bought bitcoin while this site turned negative on it, and sold it today one could have made more money than most here plan to make with nasdaq IF Gary turns out to be right. Come on! See things are they are. Stop being soooooo negative.
When people miss a move, human nature dictates that they do exactly that. They will keep saying the asset will crash or create a hundred reasons why it was best they never got involved. I am sure there will be some type of notable correction in the future, but saying it will lose 90-95% of its value is nothing more than extreme bitterness 🙂
LOL Traders miss moves all the time.
I missed the parabola in 3D pinters…. I also missed the crash.
I missed the 100%+ move in RLOG the other day.
I have and will miss thousands of moves over the course of my career. It hasn’t stopped me from making a lot of money.
One has to trade what they know. Have you never heard this before? I think bitcoin is a Ponzi scheme at worst and a solution without a problem at best. It is clearly in the final stages of a bubble. The wall of worry is gone. Price is 130+% above the 200 DMA.
Why would anyone be foolish enough to buy now? Sure it could go to $10,000 or even higher, but you know as well as me that anyone buying now or even in the last 4 months isn’t going to time the top correctly and they are all going to end up losing everything when the bubble implodes.
That’s what bubbles do. They cause people to become irrational. They buy too late and they hold too long.
It doesn’t matter at this point how high price goes. It only matters how low it will go when the bubble pops. The 200 DMA is a long long ways down. The only question is will anyone be able to strike out away from the herd and control greed so they keep their profits?
If history is any indication 99% will not.
Gary, if I understand correctly Nada doesn’t question you capabilities. What is being questioned is your defense and this what you have done with this post.
I really fail to understand why is someone as capable as you, is so defensive. I guess human nature never changes. I forgot who said that on this board.
No Nada is doing what he always does, just disagreeing with everything.
What I’m doing is trying to get people to control greed.
If one was lucky enough to buy early in the bitcoin bubble then don’t make the same mistake everyone makes during bubbles and hold too long.
Decide at some point you’ve made enough and get out. Once you are out be satisfied and don’t go back in or you will make the same mistake Newton did during the South Sea bubble.
Well! You could be right. I did not mean to speak for Nada. Somehow I felt that it was more constructive. And, I appreciate your efforts to help people. Great! Keep up the good work.
At the same time I am very happy for those who have made bundles with bitcoin and I wish them luck. When to take profit in a vertical up move is very tricky. If I remember correctly you once said that “it” can go up 100% in a month during the vertical up phase. It is a matter of luck and wisdom to keep profits made under such circumstances. I wish everyone here does well.
Actually it’s 100% in a year or less. Bitcoin has gone up about 700% in less than a year.
It is now the second largest bubble in history.
Not surprising I guess as central banks have printed more money than any other time in history.
That is only partially correct. You are right that originally you said that nasdaq will go up 100% to 10k in less than a year.
But, you have also said that it can go up to 20k in less than a month after it reaches 10k. Please correct me if I haven’t grasped it correctly.
Bitcoin is something else. It is fireworks. Too bad for those who were not foresighted to indulge in something so extraordinary, that includes me. But, then I don’t feel bad because even someone as smart as Gary himself missed out on this one.
I said: 10,000 will be a piece of cake, 20,000 isn’t out of the question when we get into the really nutty phase of the bubble. There is no timing element to that statement.
Bitcoin is in the “really nutty” phase.
This is what can happen. This is why I say 20,000 isn’t out of the question. Assuming this is a bubble and not a multi decade bull market (still too early for me to tell which) then we are going to see the same irrational behavior in the stock market as we are seeing now in bitcoin.
Then I expect we will see it in gold.
It’s $15K by June THEN $25K EOY.
Thank you for being happy for me .
Now that Bitcoin is in an obvious parabolic move, there is no telling where it will stop but Gary is 100% right about the fact that eventually it will do what all parabolic moves do, crash and no recovery for years.
Is this move parabolic or vertical?
You are right that Gary is 100% right. But, then he is always right. Isn’t he?
Well my real time trading record would suggest I’m right more often than most.
I’m not denying that bitcoin is going up. I’m trying to get people to control greed so they don’t lose it all when the crash comes.
Have you not been paying attention to any of the videos?
Gary, why pick up a argument with me? I am your follower. Do you think that I would put my money based on your words on the net if I did not think highly of your capabilities?
My friend that is not the issue.
What is happening to bitcoin right at this moment is a rare moment and it is worth enjoying. We are living it. Will nasdaq go to 10k by June? If it does I will make some lunch money, quoting Goild. If not, I couldn’t care less. I will go and invest somewhere else or I will go and by some good booze with the pennies I will salvage.
Try Vino. 😎
Miners look very weak, in what should be a breakout day.
If gold retreats towards it’s normal trading range, dropping $25 from where it sits now, miners could be crushed.
Let’s get this bloodbath rolling !
Christian, what do you think ?
Miners almost always look weak, what’s new? If one was to use miners as a leading indicator of golds price action, they would have missed the entire IC advance. The whipsaw has removed a lot of speculators and folks have learned to take profits quickly. The algos move in and out with scalp trading as of late. 8-10 months ago one would see BOW/SOS in values of 400-500 million, now they rarely get over 200 million.
Nada, when do you see the low in gold ? December, January, today…..?
This chart represents what I see for the IC timing. I personally see 17 more trading days before we start the hunt for an ICL;
With that said, its my own personal speculation and gold will do whatever the hell it decides.
Yeah, Bed, Bloodbath and Beyond! 😎 . Pretty soon now!
Well the bears have been saying that for about 2 months now and gold refuses to produce a failed cycle. It has been no bed of roses for the bulls either. Sideways consolidation is all we have seen thus far.
now, most of the guys here missing almost vertical move in cannabis. Nov 13, bought ABcann Global Corp 31% up as of today. Nov 16, Aurora Cannabis Inc 53% as of now. Although it’s vertical moves it still have a potential to double till July 2018 legalization process.
This is another “Bitcoin” that most of you do not paying attention…
i had some but sold toooo early after making a reasonable return. Since I sold them, yes they have gone up.
Thank you, Victor! Thanks to you I plan on buying some Aurora on the ICL of SM in early Jan.
I’m not familiar with the cannabis market. I don’t trade markets that I know nothing about.
You don’t trade bitcoin either but it doesn’t stop you from making comments on markets that you know nothing about 🙂 . You walked right in that one.
I’ve been studying bubbles my entire investing career.
Nice try though.
victor, did you tell us that you had bought Abcann a the time you bought it or have you been saving that info in order to surprise us?
EURUSD has topped in its former half daily cycle aftyer b/o from 1.1880 –> now Step 2 is in progress: the dead cat bounce to DCH (lower low) of USX and the ensuing ICL of gold.
…waiting for that ICL to sell my gold/silver shorts, then loooong …, some my banker friends are buying CannTrust hldng , it’s based on institutional parameters…
Alex, how many times do you think you will have to say gold ICL before it comes true? With the call you made on USDJPY on Friday, I thought you would stay in the shadows for a few weeks before returning.
YeAr end holiday Most accurate blog market calls poster poll! Any suggestions ? Gary doesn’t count !
Gary, year ago when I looked at cannabis stocks priced at 0.80c most expensive 2.70$ I thought “I know nothing abt it”. Now, I’m buying it 10 times more expensive because government step in with legalization. Does it NOT tell you something? That’s mean cigarettes is viewed as more harmful for health then marihuana. This things is moving like crazy everyday…
Let it be dog sh…t , but if it gave me profit I will buy/sell it…
based on recent months development, I think Bitcoin and cannabis market get serious money flow out of gold, take that into account on the next gold move….
While I think retail speculators have definitely removed flows in and out of gold, I doubt this has had any impact on large speculators. Bitcoin has been hot and heavy all year and gold went from 1204 to 1362 in 44 trading days.
As I suspected, the markets have done virtually nothing all day. Volatility is very low and the markets have become comatose. I read somewhere that 80% of the volume is now the computers trading stocks back and forth, waiting, I presume, for a retail sucker to step up to the plate.
JJ Harmen, I just saw your post: No I’m not intended to surprise anyone, those who’s reading my post noted I try to take guys attention to cannabis market with my 4th post for the last weeks to buy it.
I wrote %’s to show people it’s really a deal, that’s all.
JJ , also, try to see good intentions in peoples action, your life would be more beautiful….
BTC done for a while? OSTK – a proxy for BTC from 18 – 60, sold today.
Needs a long rest.
Looks like some of the other proxy stocks for BTC – XNET, in for profit taking.
Once SM and BTC roll over gold will show some life.
Check this out.
If you held Bitcoin ( you don’t have to hold a “single” Bitcoin it can be $100 or anything really)…..
On Aug 1st you got same amount of “Bitcoincash (BCH). It’s worth $1500 today.
On Oct 24th you got same amount of “Bitcoingold (BTG). It’s worth $371 today.
On Dec. 18th “SuperBitcoin” is issued same as above.( smart contracts like Etherium)
On Jan. 2nd “Bicoincashplus” is issued.
This coming Spring people will start figuring this out. I expect a dozen in 2018.
Just sell it & buy more Bitcoin. Or just use as cash.
None of these are Bitcoin – just forks that are traded but better than any of the non-Bitcoin forks available.
Not a stock split. Doesn’t effect market cap. There are over 1000 cryptos that trade & price tells everything – they ain’t Bitcoin,
When price explodes in Spring – you’ll hear about this aspect. I am telling you now because I WAS a gold victim & I want to at least hip those out there who aren’t totally dead-enders in that regard.
Once a victim, always a victim.
BITCOIN to 15,000 – 18,000
Then crash 70%-80%
But will be a BUY again.
Sooner or later governments will announce digital currency long after Bitcoin has gone away.
Bitcoin is/would be a test float of digital currency.
SPX to 2700+ max TOPS OUT then down 20%-40% by end of Dec of January.
High flier stocks will lose up to 50% of stock value.
Oil back to $49 area, will be a Buy at that point.
Gold to 1343 to 1390+ against all odds.
1260 will be major support.
Heck the world has had digital currency for decades.
Only 8% of the worlds currency is physical paper.
The only question is do you want governments to be in control of the currency creation process or do we allow every Tom Dick and Harry to create his own currency.
While history has shown governments can’t resist the temptation to dilute their currency I’m pretty sure Tom Dick and Harry will dilute it at an exponentially faster rate.
In this hike at 10:30 NUGT was leading GOLD.
Jnug is lagging.
Holding 1500 GDX shares around $23.1.
Holding 1000 JNUG shares around $15.4.
Are you still bullish short term in gold?
Comments are closed.