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Gold's Bear Market

Submitted by thetechnicaltake on 04/29/2013 10:03 -0400

This week’s Chart of the Week video looks at gold and why this is a bear market.

So let’s get technical.

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c.o.w. 4.27.13.gold from ARL Advisers, LLC on Vimeo.

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Mon, 04/29/2013 - 18:24 | 3511537 NOTfromSanFrancisco

Some of you guys here kill me! (That's a declaratory statement, not an imperative one). Into the den I go...

This guys presentation was from a "Technical Analyst" point of view... Period!... He was not giving any fundamental reasons for gold's price action. If he did, he would not be called a technical analyst. He defined what a bear market was from a technical analyst's presentation of the data... As a pure price technician, you can not inject your reasons, beliefs or perceptions on why you think whatever happened has happened. You are only allowed to give objective evidence and NO commentary. This guy did that.

Now then, if one wants to give an opposing argument why your "fundamental analysis" is better, more accurate or more reasonable for buying or selling something, then by all means give it. But for pete's sake, quit crying because some guy hurt your feelings with some data points on a technical chart.

We, on ZH already know he is charting the Paper gold price action. We already know this price action was and is the result of an orchestrated "take down" of the PM market. We also believe the near term action of the PMs will move back up and through the resistance line on the technical charts as physical buyers of PMs continue to remove physical PMs out of circulation.

When this happens, this technical analyst will say we have re-entered a bull market, but it will be because his technical chart says so, not because his emotions are cheering the rebound in gold prices.

Stop mixing fundamntal analysis (subjective arguments) with technical analysis (objective data points) and the world will be a better place, at least in your little piece of the world...

Bring it!!!...

Mon, 04/29/2013 - 16:12 | 3511121 Cycle

I don't think gold is in a bear market. It appears to me to be in the process of forming a double-bottom with the low around $1300 give or take. By the end of 2013, the bull should reassert itself in a major way.

Mon, 04/29/2013 - 15:10 | 3510890 Gordon_Gekko

He's right - it's a bear market - in PAPER GOLD. The chart for the physical doesn't exist - yet.

Mon, 04/29/2013 - 12:54 | 3510444 The_Small_Lebowski

Can i have my 2 mintues of life back please ?

Mon, 04/29/2013 - 12:54 | 3510442 A. Magnus

THIS IS FUCKING BULLISH!

Strong contratrian indicators create a 'wall of worry' for bull markets; chartist fucktards who deliberately classify JP Morgan dumping 500 tons of paper silver onto the markets as 'normal' market activity means the bull is far from dead.

Notice how NOT A SINGLE ONE of these chartist pogue motherfuckers EVER mention how the 'bull-killer' was a TOTAL market manipulation. That was NOT standard market behavior and the chart tards KNOW IT!

GOLD, BITCHEZ!!!

Mon, 04/29/2013 - 12:45 | 3510421 ebworthen

And perhaps banks and their central bank lackey's were desperate to crush Gold prices - so technical analyst's would declare a "bear market" in Gold - to try to chase the sheep into equities for another 2008 style fleecing.

Mon, 04/29/2013 - 12:21 | 3510330 horseman

If you are buying bullion, this is all noise. If you are trading mining shares, the motto "buy when blood is running in the streets" comes to mind. I have the financial tv on during the trading day and all they spout is gold in a bear, will gold continue to go down, all the while gold has tracked back up about $150 in a little over a week.

Mon, 04/29/2013 - 12:41 | 3510401 FieldingMellish

Its amazing that they put so much effort into an asset class that comprises so little of what is called "wealth".

Mon, 04/29/2013 - 12:43 | 3510413 akak

Methinks the Keynesians doth protest too much.

Mon, 04/29/2013 - 12:17 | 3510324 joego1

When I can trade statistics and charts for gold I'm all in.

Mon, 04/29/2013 - 12:20 | 3510319 moonstears

"What used to be no longer exists"...uh, yeah! Coins to buy ,at "paper" prices?? Thanks, Guy!/sarc

Mon, 04/29/2013 - 12:12 | 3510295 Conax

Gold isn't in a free 'market' at all. It is a psychological and financial battle zone.

This video is like a mortar round, and many are fired each day. The white shoe brigade has all the advantages and makes all the rules, yet they are in trouble and sweating bullets anyway.

Bullish.

Mon, 04/29/2013 - 12:44 | 3510406 akak

One has to wonder ---- if we now supposedly have a bear market in the most fundamental form of money, then what is that bullish on?

Mon, 04/29/2013 - 13:13 | 3510503 Conax

*chirrrip*

(that's my crickets impersonation)

Mon, 04/29/2013 - 12:06 | 3510280 unwashedmass

painful to watch this as it makes you realize how corrupt our markets are now, and what a joke the "regulators" have become.

Mon, 04/29/2013 - 12:02 | 3510266 Smuckers

You go ahead and get technical...I'll get gold.

Mon, 04/29/2013 - 12:02 | 3510256 vmromk

Gold is in a bear market ?

Go peddle your horseshit analysis to Bernanke.

Mon, 04/29/2013 - 11:54 | 3510243 FieldingMellish

Just about every newsletter writer is now bearish on gold if not outright short along with the general public sentiment. Are they all correct? It would be an historic first.

Mon, 04/29/2013 - 11:49 | 3510226 markettime

Gold has been going down since 2011 and went down how far off it's highs? 30% or more? The stock market has been disconnected from reality since the end of 2011 as well. Seems to me we have capitulation and a bubble, will the tides turn in opposite directions? Who knows. But we do know the money printing hasn't stopped, interest rates are still low and everyone is happy to devalue thier currency. So what if gold and silver go down even further. If gold hit $800 an ounce I would still buy it. If silver hit $5 an ounce I would still buy it. I would just need more room to store it.

Mon, 04/29/2013 - 12:44 | 3510418 Roadhog

When the prime real estate on the corners of all suburban cities post for sale signs. You know the ones "WE BUY GOLD" .... "CASH FOR GOLD"! Maybe then will be time to sell. They are mning the American sheeple. Ever wonder who THEY are and WHY are they BUYING!

Mon, 04/29/2013 - 12:14 | 3510309 Quaderratic Probing

Just when would you ever sell gold if all prices are buy?

Mon, 04/29/2013 - 11:49 | 3510219 imaginalis

I hope he dumped all his bars and coins at the local shop.

Mon, 04/29/2013 - 12:05 | 3510274 unwashedmass

me too...somewhere in the new england area. i have called every coin shop in northern new england this morning. nothing. nada.....unless i want to pay more than a 150 premium, and even then, there's no selection.

some bear market. only in JPM's dreams.

Mon, 04/29/2013 - 11:39 | 3510186 Hongcha