This page has been archived and commenting is disabled.
Gold Break Out Continues As 50 DMA Gap Is Close To Being Filled
Following a strong break out this morning, gold continues its push higher and is now just $8 away from the critical 50 DMA of $1374, which had served as a major support level up until a recent round of margin collateral requirements and the CFTC's grandfathering clause spooked the weak hands in gold in mid-January. Should the 50 DMA be passed (and with the 30 DMA already in the rear-view mirror), the technicals will promptly become a tailwind again, and allow smooth sailing to resume all the way to the all time nominal highs in the $1430s.
The chart below shows how quickly 50 DMA gaps have been filled in the past two years.
»
- 9876 reads
- Printer-friendly version
- Send to friend
- advertisements -
How bullish it is for gold.. when china raises reserve req's among inflation risk and gold rallies hard.
The markets know damn well real inflation will always outrun the governments version of inflation.... and rates will be suppressed indefinately to protect stocks and housing.
Interest rate hikes fast and hard are the greatest danger to gold price... but not if they lag so much as to be insignificant. This is the most likely scenario.
All systems go.
From Tyler's lips to Ben's ears?
wow...you're generous saying it "spooked" people.
the hell with that crap, we should call it as it was....
1374 was support until the CTFC colluded with our friendly major bank and manipulated the market down as hard and fast as they could.
now they are trying to keep the lid on, and people ain't quite as stupid as Bennie Boy needs them to be....
or as scared of JPM.
1500 here we come.
Gold bitchezzz..
ZH resident metals guy, The Turd, believes 1600 by June. The USDX should be in the 70 to 72 range by then
"resident metals guy"...I like that!
At any rate, this is for today:
http://tfmetalsreport.blogspot.com/2011/02/hmmm.html
And here's that $1600 call from three weeks ago, at the bottom I might add:
http://tfmetalsreport.blogspot.com/2011/01/1600-gold-by-june-10-2011.html
Turd, you've made some great calls -- I got a few traders I know following your blog over the last couple of months. Thanks!
Bastiat: Thank you for the kind words. I'll try to keep it going.
Somewhere a used mattress outlet is missing it's sidewalk barker.
Spot on, just around the corner from your mum's house-she will show you the way.
Somewhere a carnival is missing its ass-clown.
You lost your job due to insanity?
Really? Where's your blog, you fucking douche bag?
I see that JonNadler's new employee is out and trolling away. O/T dude! You are supposed to be dissing gold!
Gold keeps going up, Blythe will have you for dinner...
Turd,
Give me a hint when your CNBS gig is going down this month, would you?
And I thought you cant polish a turd?!
You are the Man - Turd (in a funny hat)! I remember your call.
Turd, William B, Tyler D and a few others make ZH a great place. Sadly, the pro-Obama leftist scum like GW and others diminish ZH.
You're such an ignorant ass, but at least you're consistent.
You are absolutely right Freddie.
So we have a consensus. George washington is the suck? No maybe's about it. It's absolute.
We just get the most wonderful rolling trolling brigage around here don't we.
LOL. Disagree = troll.
You troll gw threads and you and you're butt buddy you're facilitating for troll him in a non gw story thread.
It's just weird it's like missing_link. No matter what gw says about any subject he just doesn't like what he has to say. It's not tied to any subject or field. It's just a personality trolling.
http://www.eagleforum.org/educate/1998/nov98/focus.html
I doubt there are more than a few on ZH who don't realize both party candidates are mere puppets controlled by the same guy behind the curtain.
Read Carroll Quigley's "Tragedy & Hope". Well, that, or switch to Fox News/MSNBC/any other MSM and remain ignorant.
My thoughts exactly. The puppet masters remain the same no matter who sits in the white house or congress.
Don't bet on it. There's not really much out there to stop the other central banks from continuing the flagellation of their own currencies. This is why the USDX is totally meaningless. It's like an altimeter to only tells you how high it is above the floor of the airplane.
@tmosley, I agree that everyone has been devaluing over the past few years but I also see that some of the big players (China, India) are seeing the light and slowly starting to see inflation. It could go either way but my bet is that the USDX will actually start to reflect the shitty monetary policy of the Bernank
That may be true, but their currencies aren't used when calculating the USDX.
http://en.wikipedia.org/wiki/USDX
Of the components against which the dollar is measured by that index, only 3.6 is what I would call a "strong" currency, ie participates in less printing than the world average. Well, I say that, but I don't know much about the krona. If that is also a "hard currency", then it's 7.8%.
Thanks for the wisdom. This is why I read ZH:-)
Fiat currency collapse. Hence my username.
Hey! Don't look now muscle mouth but gold is fading...again.
When QE is formally ended it will be too late for the bullion hoarders to recover.
Paper is liquid esp the X2s bulls and bears. Traders love it and profit by it. Even Paulson owns the ETF. He's as fool in your book.
Doomers will always make the same brainwashed argument they've used since 1980. Yawn.
Once again, this dumbass proves his attention span is only measured in microseconds. A single downtick and he's claiming he was right. What a dumbshit.
You seem convinced name calling is an effective response when your weak arguments have failed.
http://www.google.com/imgres?imgurl=http://www.acceleratingfuture.com/michael/blog/images/disagreement-hierarchy.jpg&imgrefurl=http://www.acceleratingfuture.com/michael/blog/2008/05/paul-grahams-disagreement-hierarchy/&h=516&w=679&sz=93&tbnid=3Kbz3SS4WepTKM:&tbnh=106&tbnw=139&prev=/images%3Fq%3Ddisagreement%2Bhierarchy&zoom=1&q=disagreement+hierarchy&usg=__jFWivAmtx1G46Ij532ObSnAtV4Q=&sa=X&ei=s6c4TZHbA4essAOGm6mtAw&ved=0CDIQ9QEwAw
What arguments? You drive by and shout "I disagree" like a fruit, and I call you a prick. You are the one that has been proven wrong (many, many times, I might add).
You need to work up a new sock puppet. This one is approaching negative infinite credibility. But then, it's pretty useless, as I will just point out the next one by the time of its second post, just like I did this one and the last two.
were you Tmo on PBN?
I don't know what that is. I guess not.
its a paintball forum, tmo was a member who hung out in the investment thread and reminded me a lot of you.
A paintball forum that has an 'investment thread'?
Damn I love the interwebs.
lol, never played paintball. I wanted to do it as a kid, but I had to pay the bills, and didn't really have enough left over for stuff like that. Those guns were pretty expensive.
These days, I would rather have the real thing, and just spend an afternoon on the range.
its not a very active part of the website, but if you have a few minutes and want to see what some kids(not all of us are kids) are asking and posting on forum here you go: http://www.pbnation.com/forumdisplay.php?f=428
I agree... tmosley, there really is no need for name calling. We all know wtb is a flaming retard anyway.
No need for trolling either. We all have to get our jollies somehow, apparently.
And unfunny, zero credibility trolls will continuously tell other people to short gold, while not themselves following through on said advice.
He would like to follow his own advice, but regrettably the $142.00 a week he gives his Mom for room and board eats up all of his takehome pay. But rest assured, when he gets flush he's gonna fund that Scottrade account and get back into the game.
He did sell his silver plated MacDonald's Vancouver Olympics Medallion he was given for good work attendance. He needed the cash after he got fired for jerking off into the lunchbox of the poor downe syndrome girl who salts the fries; so I guess he does kind of walk the walk.
I bought that silver plated McDs medallion from him and it is worth twice what I paid. Sucker! It was sticky though now I know why.
+++++ Escape, Colonel, Temporalist!
Needed the laughs today!
Are you short gold?? NO?? Put your money where your mouth is, cunt, or GTFO and get back to what you do best: hand-jobbing Smailes for beer money.
You clearly haven't been taking your medication. QE formally ended that is a good one. If you weren't crazy you could have been a comedian. I guess JP Morgan is also wrong for accepting PMs as collateral. Why don't you tell them how wrong they are then report back to the wizard in your closet?
When QE is formally ended it will be too late for the bullion hoarders to recover
Put the goddamned crack pipe down already you fucking moron.
Dilute the currency you get higher prices. Just because you STOP diluting currency doesn't mean the price is going to drop. The rest of the world just watched you fire up the printing presses to the tune of a few trillion dollars, the smart ones are not going to get treasury/inflation ass-fucked a second time.
When that happens, those that have Physical PMs in their hot little hands will be watching the NYSE burn to the ground -- check your premises.
All the trolls had best go ahead and file for new names to get that credibility back up to zero!
Too funny... +++
lol
Yep especially Johnny Bravo/Math Man who blamed gold investment for both inflation and defaltion a week or two back. Then last week was bragging about his massive Si put position.
Tmosley -
ur a favorite bro...sabre tongued
cheers
The zero hedge return to innocence cycle. LOL
http://www.youtube.com/watch?v=thpBS6j5Tjw&feature=related
+++ @ Mosley.
The thing about the trolls is they have no staying power...
Also a lot of good Troll Terminators here.
deleting dupe...
GOLD TO THE MOON BITCHEZ!
But...but....b....I thought RoboTroll and William the Fucktard said gold was going to get blowtorched ?!?!?
WTF???
A blowtorch has no effect on Gold.It may melt, but rest assured it will become solid again....SOLID.
It *is* going to get blowtorched...or, more properly, melted and re-refined. You can't be too careful in these tungsten-filled days.
old catfish mouth robo douche bull bear wanna be doesn't believe his own posts. i think it's because his yoga tights have cut off the flow of blood to his brain.
Some people just don't know how to lose the hero and get with the zero.
fat tails bitchez!
Gold.
It's what's for wealth preservation.
http://www.beefitswhatsfordinner.com/
Soon to be.....
Nothing, it's whats for dinner..
'Whats fer dinner'? How about some Chinese plastic rice?
YouTube - OMG! do NOT eat Chinese rice - 3 bowls = 1 PLASTIC BAG! polluting the food supply!
MMMm yum!
Is this bullish for cancer?
I never could eat rice - it looks too much like maggots. If there was a maggot in a bowl of rice, could you spot it? Not likely.
Why don't they use inexpensive and readily available maggots instead of plastic? I'm sure maggots have more nutritional value.
The Chinese eat just about anything, with the exception of "Wolf's heart and Dog's lungs", which is an epithet for "Totally useless" to the Chinese -- so somewhere in the Orient, maggots are probably on the menu.
This is how we did a breakout back in the '80s
http://www.youtube.com/watch?v=nnivOKYyWLY
Not a mention of my favorite metal, silver? It is spitting distance from $30 a troy oz, and has already passed all relevant moving averages (imho).
Argentum, Canis familiaris!
"None shall pass", screams Blythe Masters the troll, as silver attempts to cross the $30 bridge.
Oops. Too late.
$30.01 as of 10:36 AM
Are those footprints on her back?
Why yes, yes they are.
How I wish they were mine.
30.12. Someone take away her belt and shoelaces again.
She's trying to buy life insurance but since all the actuary tables say unbacked fiat empires die after 40 years she's not getting much play.
Dollars dead. No exceptions exemptions or miracle cures.
Don't worry, no one is going to get screwed
Free body bag with purchase of closed prop desk.
That bottom chart looks sweet! Picked up some Krugers yesterday. Perfect start for the week.
"The Russell view - It's virtually impossible to successfully time in-and-out trades during an ongoing primary bull market. Usually what happens is that the trader has moved out of the market just as the bull trend resumes. Thus, the bull market does what it's supposed to do - advance while leaving most traders and Johnny-Come-Latelies behind."
Richard Russell, Jan 26, 2011
"It never was my thinking that made the big money for me. It always was my sitting."
Jesse Livermore
Jesse learned the same lesson that Richard is sharing with us - take a position and wait for the primary trend to fully express itself
the primary trend in gold will continue for another 3 to 10 years
">> The Russell view -
I've been a reader and follower of Russell's advice for awhile now. His wisdom has helped me dampen the emotion that leads to most of my disasterious trades.
>> take a position and wait for the primary trend to fully express itself
I've developed quite the knack of buying the rhino horn. Fortunately the bull market has helped ease the effects of this disability.
"I've developed quite the knack of buying the rhino horn."
you got Jim Sinclair's advice backwards - you're supposed to SELL the rhino horn and BUY the fishing line
Very true for me bronzie.
If Russel is saying this, it must be true.
I went in PM stocks in 2005, I made maximum one trade in 3 months to adjust my portfolio, and I am up 385%.
An advice: do not try to time the bull market.
Damn you gold and silver!
Uh oh, top!
JonNadler might send you over to Blythe's as well for dinner...
Old turkey said "it is a bull market you know..."
My first post. I bought 2 x 1kilo kookaburras when the price hit a low of 620 Euro and a 20g gold bar on the same day. I'm in my 20's and 100% in PMs. Greetings from a Scotsman living in Germany.
good job my man. put the bullion away in a safe place and forget about them. careful with the pm stocks though. they'll break your heart.
Way to go Sir!
Buy as income permits. Stay out of debt. You will be fine! I did not start buying PMs until I was about 30.
Keep it up and you will be rich, enough anyway. You will have excellent wealth to pass down to any children. What a great legacy you are preparing!
+ $1360
Put a golden chain between those Kooks and you could play a bit of havoc with yer local thugs, eh?
Wilkommen!
And here, just in time, comes Barry to further destroy any lingering vestiges of fiscal prudence at the Fed.Gov ...
http://www.foxnews.com/politics/2011/02/07/source-obama-wants-jobless-ai...
Yeah, short-term. Like those "short-term" $1T-plus deficits, right?
The bailouts will continue until the currency implodes.
Everything for the last 3 years has been a mere momentary anomaly, just a minute glitch abberation that by next month will be quickly reversed to show the real reality. Such as 400,000+ weekly unemployment every week for 29 months...simply a glitch its not real.
Robo, Harry, and Smailes shooting out blood from every orifice.
Ebola...it strikes at the most inopportune times!
If they sell all the gold, then what will they use as a paperweight to hold down the zillion and one paper promises to deliver?
Guys:
Is anyone reading this stuff from the Yahoo JPM board, talking about all out nuke warfare between Blythe and some former traders? Is this even possible? The level of detail is incredible!! Comments?
http://messages.finance.yahoo.com/Business_%26_Finance/Investments/Stocks_%28A_to_Z%29/Stocks_J/threadview?bn=10073&tid=385782&mid=385811
D
I have no doubt its going on.
I *did* see that. For more you might try:
http://search.messages.yahoo.com/search?.mbintl=finance&q=wynter_benton&...
She mentions Tyler and The Turd as exemplars of what she is about!
Go Bills!
Who was the guy last month, who said that Gold would break out on Feb 8th ?
Who was that man, I'd like to shake his hand, he made my baby fall in love with me- yeah.
PS to all you PM haters... see you in church ! Mwahhaaahaaa.
See my message above! Same topic!!! feb 8 was the date according to "Wynter Benton".
Dude you're a little late with the news. Had my calls in place since the gold breakdown confirmed.
PM hater crew is oddly silent today...probably busy mopping up all the blood shooting out of every orifice.
Let me help.....blah,blah,blah,head and shoulders top,blah,blah,blah.
you forgot.. blah, blah, you can't eat it.. blah, blah...
you forgot.. blah, blah, it's in a rising wedge.. blah, blah...
you forgot.. blah, blah, barbarous relic.. blah, blah...
...and, who was the azz hat that said gold to drop to $1290 or below prior to any gain???
I was guestimating it might go as low as 1275 before the bull turned its horns into the back side of the shorts as it reversed and ripped to 1500.
But, ya know, when you get international clearing houses discussing accepting gold as collateral...well, that DOES change the dynamics a bit, hmmm?
You MUST SEE THIS! Chinas solution to the commodities upward death spiral is...get this...manufacturing PLASTIC RICE! No shit heres Max Keiser breaking the story LOLOLOL!!!
YouTube - OMG! do NOT eat Chinese rice - 3 bowls = 1 PLASTIC BAG! polluting the food supply!
We're not far off from the manufacture of Soylent Blue, Yellow, and the dreaded Soylent Green for consumption.
What's the secret ingredient?
MSG.
It already says "people" on the package.
They use potatoes and sweet potatoes to form the kernal, then coat it in a plastic resin to keep it together when it cooks. That is why it stays hard- the potatoes are encased in a shell.
Ooh! Just like Contac™: "A hundred tiny time pills in a capsule!"
The rice doesn't cook either- stays hard. Can you imagine making that product and then selling it to your neighbors? What kind of people do that? and yes, I realize we have them here.
Think asparatame and margarine. Did you know flies won't eat margarine?
LOL
I never considered flies to be very descriminating in their food choices.
Exactly! I've heard bears won't eat it either.
file me with our furry friends, I don't eat that shit either
Obviously you have never attempted to catch more flies with vinegar instead of sugar, CogD.
It's just oil. The butter industry did a smear campaign on margarine a hundred years ago, but nutritionally, it is better, it's also smoother and tastes just as good as a spread (butter is still far better for cooking).
You know they actually forced margarine producers to put pink food coloring into their product so people wouldn't buy it? Government guns do funny things.
It's bad oil, tmosley, trans fat.
Many brands of margarine have eliminated trans fat. I only use smart beat, which did that long ago.
Not sure why everyone is so nuts about trans fat. Chemically, it is almost exactly the same as saturated fat, which causes hardening of the arteries (the bond arrangement of both allow them to pack together and harden, like candlewax). I see some references to increased formation of LDL cholesterol being associated with trans fat, but I don't really know why or how, and one must always keep in mind that correlation is not causation.
I do know how LDL causes damage though. Pretty interesting, actually--it produces reactive oxygen species as it oxidizes, which cause oxidative stress, which seems to damage the heart (among other things).
+1 biochem
Margarine circa 1952 came with a reddish powder in a seperate packet and was mixed by the consumer (then known as a house wife). After the mixing the result was color similar to butter.
margarine sucks...it is nutritionally inferior and tastes like crap. Hydrogenated vegetable oil instead of butter? May as well eat garbage
++++
I heard that margarine was originally developed to fatten up cows.
I read it was for turkeys, Hook --- and they died.
Interesting. Did you ever hear of the study when they fed peanut butter (or the meal) to turkey. Evidently the aspergillus that grows in it shuts down the liver. 100% dead.
Never heard that one.
Another study done by the Department of Nutrition at the Harvard School of Public Health in Boston, analyzed the diets of 239 patients admitted to Boston hospitals for their first heart attack, and compared them with the diets of 282 healthy control subjects. After adjusting for several lifestyle variables, they found that margarine intake was significantly associated with the risk of myocardial infarction.14
A Harvard Medical School study followed more than 85,000 women over an eight-year period. The researchers compared the diets of those who developed heart disease over that time with those who did not. They found that major dietary sources of trans- fats, such as margarine, were significantly associated with higher risks of coronary heart disease.15
http://www.drcranton.com/nutrition/margarin.htm
Just bought some goat's butter as an aside, having read that the fats balance in goat's milk is better for humans than cow milk.
as another aside, the captchas don't work sometimes:
Math question cannot be longer than 2 characters but is currently 3 characters long.Yea..., that's all part of the CAPTCHA. You see, computers are still trying to get a 2 character answer, but you realized the mistake and are now having fun with the rest of us.
BTW, i wouldn't keep making it public, or those high speed platforms may be adjusted for those mischievious humans.
The captcha is working just fine it ensures that you are human, and intelligent enough, by having you fail and return to try again. Notice the second captcha is never a 3 character answer...
It's not a bug, it's a feature!
indeed. they're called Monsanto, and they've infected the whole food supply with their artificial poisons and their revolving door FDA moles. . .
http://farmwars.info/
check out their story on the latest version of "aspartame" called "neotame" - don't have to list it on the ingredients AND it can be added to "USDA certified organic" foods. . . nice.
It is truly obsolete to speculate as to the "value" of gold! It is and will remain a STORAGE OF VALUE and will eventually, only eventually, become a means of exchange! Stick with Physical PMs, regardless of any price movement in the paper world, rest is just noise!
Wish silver will break the 30$ line,simes the boys are
really out to see it stays below.
It's just broken it!
30.31 just now. *smile*
What's everyones opinion of wynter bentons comments this am?
Silver alittle or a lot higher?