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Gold Sitting at Ledge of 2-Year Support Cliff
By EconMatters
A Rough Start for 2013
Well Gold hasn`t had a particularly good start to the year, in fact, a good pairs trade would be going long the S&P 500 and short the Gold market for a nice 12% return in two months. But many Gold Investors are not yet ready to throw in the towel for 2013, and some even have targets in the 2000 an ounce area, and think this pullback, although significant, represents an excellent buying opportunity.
A Buying Opportunity?
Well, all those waiting for a pullback to get long on this Gold trade now have their opportunity. The real question is whether this is a good place to buy, or the proverbial “Catching a Falling Knife”? I put some charts together, and I will let you decide that one for yourself. Just watch for key technical levels that break, and protect yourselves with stops, and you will survive with little more than some flesh wounds if you are wrong.
Charts Galore
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Kill the heating bills!
Rocket Mass Heaters .... search it on youtube.
Build one in a couple hours for $100. or less and use 1/16 the wood of a conentional woodstove.
Oh yeah, and only puts out CO2 and steam, no smoke!
Rocket mass heaters and rocket mass stoves.
Exactly. The proof is in our daily lives and on the tape of the last 4 years. It has been proven w/o doubt that <S&P 1000 is intolerable. Deflation will not be allowed by the control freak Keynesians, for they hate a free market.
Remember to keep some percentage of your wealth in fiat notes....if the deflatonary spiral hits, cash will be king.
Can you say prime farmland at $200 an acre?
Green Acres Dog
Should happen about the time a gallon of gas hits 30 cents. I hopeful.....but I'm not counting on it.
be smart enough to know the enemy and act accordingly.
Although,
with no other option(little bighorn) one must fight-as today could be a good day to die...sitting bull
modern day ;gun control, gold manipulation-cent planning-when is your little bighorn moment?
not gold for me-mandatory registration of guns is the point of little big horn or leaving and not looking back.
make that decision when that time come..starting to feel like the natural americans when white man trashed their way of life.
the parallel to todays [central money control/bankster/gub-taxation] taking our freedomes...
my deepest sympathy for what my ancestors did...
The punishment for treason is death. If the legal system won't abide by its contract with the people and handle the issue, you can pretty much morally justify any action you wish to take on your own.
after 67 percent reduction(PHYS silv at 32), for me it came down to fighting the fed. when yellen slipped and said what she said I fucking dumped ASAP. the old me would have waited to see the outcome. But kept my core position, but folks this G and S shit is another reason to be pissed in life - fuck it, back to acumulationing stuff i can use daily, weekly or monthly...and if you know me it goes bang bang shitty shitty
many down arrows to come but it is JMFO, and I ask; still fighten the fed?
Analyzing charts in attempt to predict the future is like astrology. Useless.
I just read the astrology section first....cause the rest of the newspaper is just too damn depressing.
Same reason I buy gold. At least I know the free markets, astrology, and pro wrestling are bullshit. If anyone wants to pin their future on them.....go nuts.
Horoscope Feb 21-
You will see a stranger today.
Feb 22-
Remember the license plate number of every car you see.
I got a RSI buy on GLD and gold stocks today, We are in a down trend so my stops will be prev day low.
close to a VIX sell on the whole market, I do not trade on close, I do have some TZA
My last buy SSYS
Hit a few stops today. They were green :)
ps:
I worked a chart for the preppers.
It looks 2023 will start a fall and 2027/28 a big down move. Gold , Guns & food do not look like winners.
Cheap Electricity & Africa look like big winners.
I will have to think how to profit from that, Ideas? Desalination & Sahara?
This is interesting. All charts are interesting...
Got charts? Post to a bucket or use a link.
thx, i.
it is all pysop. with a record number of short contracts they will push gold further down this ledge in order to break expectations and convince people and companies with cash to stay away from gold. it looks like they are using all their might for survival. yes, they may hold for some time but they can't resist nature's big correction that is coming soon.
"it is all pysop. with a record number of short contracts they will push gold further down this ledge in order to break expectations and convince people and companies with cash to stay away from gold. it looks like they are using all their might for survival. yes, they may hold for some time but they can't resist nature's big correction that is coming soon."
I agree with most of your comments. However they aren't using "all their might". Gold is a small market. Gold is not a strategic metal. It is easily manipulated and draws far less interest than, say, oil.
Not only are they resisting "nature's big correction", they have effectively "reversed" the market. If they want a correction "soon", there'll be one. If they don't, then there won't be one.
Since THEY say:
1. It's a barbarous relic.
2. It has no real value.
3. The top is in.
4. You can't eat it.
That sort of proves to me, all the reason I need to accumulate more of it. Just like a woman, watch what they DO, not what they SAY.
If it has no value, why are central banks buying it?
Why does the BoE and the Fed have to put on 'dog-and-pony' shows such as BS Audits and Inspections by the queen?
Why are they so desperate to hammer the price down?
Governments here, there, and everywhere have been lying to us little people since the dawn of time. That being the case, what rational mind would believe they're telling us the truth about Gold?
'Nuf Said.
So the next debt ceiling raise and downgrade is when again?
Hmm...
It appears APMEX and ProvidentMetals are soldout in several categories of silver coins.
They are either sold out , or they just will not sell their existing stock at these temporarily low prices.
I bought all of the Gold Kangaroos over the last week or so, accept my apologies. Off to the marina......Ta!
Dog
Huh....you don't say?
America is convinced.
Convinced gold is a sucker's bet.
Secondarily? Americans have also been convinced they need millions more guns than in American history and more ammo than anybody ever even contemplated in all of American history.
Americans have also been convinced they need a millions of guns and more ammo
Just taking a hint from the DHS. If they're stocking ammo for a 24 year war.....then so am I.
plus wtf, i can blow shit up - my golf game - FouR!!!!
Gold was the relatively easy way back.
Instead, every Walmart in America is sold out of common calibers and all semi-automatics. The simple man can feel the Gestalt even if he can't follow the details.
So Soros and Bloomberg are now spending their baseless fiat billions trying to "control" the escalating situation via unconstitutional gun control and political "contributions".
Their actions are only making the gravity of the situation MORE obvious to the masses.
Megalomaniacs ironically always think they failed because they didn't go FARTHER in attempting to realize their inherently insane scheme.
thank goodness for the black market
and for capital controls!