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This fake breakout in gold has been persistent, but it will fall back soon. Intermarket relationships will see to that, as mentioned in the article.
And -MobBarley - please keep your foul language to yourself. It doesn't contribute anything, and shows your level of maturity.
Thanks for sharing your thoughts, merehuman (who is apparentely a super trader) ... which echo so many funny-mental personal opinions above ya, which are similarly w/o any charts, #'s, fact, figures, metrics or even link. We only flag that which is blatantly profane or personally derogatory w/o any hint of merit, substance or even a good joke. As I've told GG above, who apparently gets his rocks off by talking ish about RrP/ EW at every opportunity, why even bother? Other than being bored and lonely with your E-trade, honestly, what is anyone trying to prove by bashing, rather pathetically, actual technical methodologies that they don't understand or appreciate? To what end? Are you folks really that incensed by anyone/ anything that actually has a clue what tomorrow might bring or how to trade?
Quick machine gun for any/ every hater who would like to try to pick on someone who can outmatch your wit and has actual performance summaries, let alone a clue:
what is your actual trading methodology?
how do you actually trade?
what are your actual performance metrics, just basic?
considering that we do this professionally, make dozens if not hundreds of time-stamped mkt calls each and every day across financial markets, run several businesses and still poorly manage to throw up an article or three each week in the explicit design of describing/ teaching about advanced technical analysis ... seriously, outside of being bored at home by yourself while you watch CNBC and eagerly try to poop on anyone who might make you feel slightly inadequate in between doing chores around the house and passively monitoring your mutual funds/ ETFs, to what end is there? I would LOVE to answer an actual question about TA or read legitimate criticism that has even the slightest bit of merit/ substance behind it.
And finally, bc i have actual trading to oversee bc we actually trade ( do you ? ) ... does anyone have anything to say other than gold is great, dollar is dead, ta is stupid (simply bc you don't get it), and prechter is [insert preposterous adjective here]. To everyone out there so willing to say "I KNOW this is gonna happen/ go to x because i THINK so" .. PLEASE put your E-trade account down and slowly back away from the screen. As i sit n write at 03:40 and am telling folks xyz and get ready for a 2 min TICK pop to test the underside of sell size sitting at 1108.50 .. what are YOU actually trading? please, enlighten me and help re-direct this pointless drivel (on my part as well) toward actual substance.
Beautiful rant, Fibo.
Short on indexes, looooong gold.
thank you sir, gatopeich .. and that is truly what it is, a technically oriented rant with an underlying motif that anyone who doesn't actually trade or have a clear mindset about conceptual inter-market relationships will mostly skim right through and say: 'stupid dollar bug looking at actual technical indicators which are truly predictive, how stupid, don't you KNOW that xyz is worth blah blah blah?'
considering that there are NO high probability trades on long enough time-frames to proffer up here to the public ... seriously, do folks want real analysis or realmoney? a straightforward and honest question.
i can only promise our readers a few things: 1) we are technically rigorous/ technically oriented; 2) my brutal honestly is quite literally the hubris of my youthful hamartia; 3) we love good market-related banter, especially since we can't initiate it anymore and don't really get into anywhere else but on these ZH boards. personally, i really do get a kick out of it and ONLY ask that if you really want to try and take a pointless pot shot, then please think about twice it and try to come up with a good joke ... that way if i do decide to hand out mental wedgies to folks i'll simply thank you for providing some levity.
... now back to your regularly scheduled programming of when israel is going to take out natanz and how close some "news" story or stratfor piece says the royal guard are to arming an actual shahab-3. such an amazing waste of mental energy, simply because issues are palpable to normal folks sensibilities. i get REALLY frustrated with idiotic people who spend all their working to make $ to then piss away in the markets because they explicitly refuse to open their eyes at all. honestly, is that really so out of line now? particularly when juxtaposed against 'idiot, don't you KNOW that xyz is 'worth' 123." urgh. good luck with that. how'd it work for you last year? last decade? how bout last week?
then again, ignorance is truly bliss.
ranting over ... back in a few hours after client calls and going over performance summaries, just like all the retail buy and holders to reverse split/ bankruptcy are doing right now.
still can't believe no one has written about how/ why N. Korea's latest 'news' was inflationary if not hyperinflationary, LOL. those damn facts suck! don't they inflationistas?
May I please offer a bit of cross discipline information exchange. You are bringing into this the tie between moon cycles. I know a tad about astrology. Moon cycles follow two paths. The full moon is a "filling" cycle. Supposedly all the thought energy goes up aggregates and then comes back down to us during this cycle in compressed liquid form known as emotions.
The new moon cycle is a draining cycle. Where not much emotional energy is present in the thought well and people are able to analyse their reactions to the previous thought well cycle.
The trick is that we are all fractured on those thought wells as well as operate on them differently. Some people are too open bring in everything with no discernment. Some people are closed and will only bring in what they want, what they believe what they see, they seek only verification or response to a narrow reality construction.
This moon cycle occurs in gemini and there's going to be debates about how to best achieve reality.
All that being said if people make fun of your technique i'd base it less on the underlying soundness of it and more on how people are processing the information thats coming in.
Lies shape those patterns you speak of. They create cooperation when there is none. They create placement of effort within larger spheres when that placement is a lie. As all this is unfolding those waves you speak of are changing. They create involvements and uninvolvements. The water that comes through the moon cycles has always been "tainted". More and more people are becoming aware of that. Less and less are responding to it or responding in radically different ways.
If you want some levity. Don't drink the water. Analyze the coolaide VERY closely.
so this article demonstrates the rising value of lipstick for pigs ? I Know i am not making sense, but neither does the article. Perhaps i should adjust future purchases to the low tides? Wearing red on tuesdays implies a rising bank balance and sheep do better without blinders. The gold bus is the best way to ride past the poverty storm. Good luck to all of us.
Feel free to flag as junk, same with above article.
Repeat after me - I WILL NEVER EVER SELL SHORT GOLD AGAIN.
Now go write this 1000 times on the blackboard as punishment.
From technical candlesticks to full moons. Just like the cocktail clock that has 5's in every hour, if you say sell enough times you might be right. Broke but right.
Only thing that will save you is some world event, when completed would just be another dollar short/gold buy.
Stay short dollars until the next congressional election, that will be the only thing that can turn the debt tide.
lol full moon
You , Fibozachi are one FUCKED UP dude.
Enjoy the trail of tears, eh?
Methinks you've got you're own one coming up soon.
I'm an anglophile but I'm not jingoistic you sub sentient chimpanzee son of a bitch.
Go fuck yourself.
Love your sarcasm PM.
GOLD AND SILVER ARE ARE RIDING THIS FINANCIAL HORSE, THAT IS TO SAY, THEY ARE ON TOP. WHEN NOT IF, THE HORSE GOES DOWN, GOLD AND SILVER WILL WALK AWAY, INTACT.
THE FOLLOWING EXCERPT IS FROM BOB CHAPMAN'S...THE INTERNATIONAL FORECASTER
BOB HAS SOME CONNECTIONS ON "THE INSIDE"
The following information may be the most important we have ever published. One of our Intel sources, highly placed in banking circles, tells us that on 1/1/10 all banks that have received TARP funds have been informed by the Federal Reserve that they must further restrict any commercial lending. Loans have to be 75% collateralized, 50% of which has to be in cash, which is a compensating balance.
The Fed has to do one of two things: They either have to pull $1.5 trillion out of the system by June, which would collapse the economy, or face hyperinflation. This is why the Fed has instructed banks to inform them when and how much of the TARP funds they can return. At best they can expect $300 to $400 billion plus the $200 billion the Fed already has in hand.
There will be breathers in this gold bull, But a significant pullback (+15-20%) is highly unlikely. So much money is waiting to jump on even a small drop that we will be at $1750 before a significant drop occurs. If delivery or sov debt starts to fracture you may not find physical at anything near spot. Please do yourself a favor and make sure you have physical now while it is still available. Silver is still a bargain for those with gold price aversion.
COMEX default imminent. Physical wait times are spiking on the aftermarket. Commercial shorts increasing as Barrick announces a 100 ton hedge unwind *complete* in only one month(!). So much manure thrown - who sprayed the wall with teflon? Play the paper, but don't expect to be able to convert it when it would be most helpful.
It's ok. The IMF can sell their gold.
Darn those dollarbugs, they really need to take off their tinfoil hats. Look at the very long term dollar chart over the decades, it proves the dollar is a losing investment and now worth around 5 cents in buying power since that investment vehicle first came about in the early 1900's. Oh those dollarbugs, they never learn but love their greenbacks nonetheless.
Oh, an gold was around $25/oz back in the day of the first greenbacks.
good point Anon ... even though its more like 2.875 or something like that and the REAL DOW (inflation-adjusted) is down c. 80% since THE top in 2000 ... but adjectives do sound better than actual charts, facts, figures, metrics and links ... especially when actual trading isn't being discussed. lol.
again: i'm still waiting for someone to actually raise a legitimate technical gripe, make a really good joke OR at least put me on the actual defensive instead of just giving me a slight chuckle from weak attempts at personal insults. cmon folks, we really do try to provide amateur investors (who don't trade) with great material to take issue with, lol, so at least gimme something to similarly laugh about or actually have to think about before regurgitating this simple plea.
and if i didn't respond to these pathetic attempts then 1) what fun would you have bc obviously you funny-mental gold bugs who KNOW where gold is going aren't reading our work for either the technicals or our practical insights the nuances of actual trading.
everyone likes to chime in on how to trade gold using the infinite wisdom of the buy and hold to infinity strategy, yet, for some strange reason not many folks have much to say about actual trading itself; outside of obvious quants like, peterpeter, and obvious technicians like Neo of Zion.
kinda funny how, outside of saying what you think w/o any actual reason for it outside of what palpable emotional bile you are regurgitating from first hearing elsewhere, there are so few actual #'s, let alone accurate ones.
for those who want to talk trading, please see a past rant of ours (mine) about ACTUAL trading via design development located here on ZH. would LOVE to have an actual convo about something that actually matters and could actually help someone learn something outside of how utterly pointless funny-mental discussions are.
Four Basic Qualities of Great Technical Indicators & The "Stochastics Default Club"
Dollar-bugs think the dollar will reverse all its losses of the past 100 years and we'll have 3 cent gas again...can anyone please tell me why we listen to such idiots? In fact, I cannot help but think that such individuals are merely tools/moles of "the oligarchs" whose job is to create a counterparty for them to dump all the worthless fiat dollars onto in exchange for real goods/assets. We see now what you really are Mr. Prechter.
Can't you accept that Dollar could jump a bit before entering the next grand leg down? That's what some call "the dead cat jump"...
Expecting a f*king straight line?
There would have to be a freakin screaming bull market in the dollar - not a "bounce" - for us to get $10/barrel oil and $400 Gold as predicted by Mr. Prechter.
I enjoy reading your analysis.
I also give you tons of credit for sharing your trades in advance; I've always respected people who put their money where their mouth is.
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