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Gold Isn’t Buying the QE 3 Hype
Since the whole world believes QE 3 is just around the corner, I thought it a good idea to see what the markets really thinks of the likelihood of QE 3 coming anytime soon.
For starters let’s take a look at Gold. gold caught QE lite and QE 2 a full month before stocks did in 2010:
As you can see, Gold caught a bid and didn’t look back starting in late July 2010. By way of comparison, stocks corrected hard and didn’t start to rally in earnest until late August/ early September.
So Gold lead the markets to the upside in anticipation of QE lite and QE 2. So what’s Gold say about the prospects of QE 3 today?
This is hardly what I’d call a bullish chart. Gold actually looks to have peaked in mid-August and is now correcting. Indeed, if it doesn’t rally hard now, this pattern could see prices down to $1650 in short order.
Meanwhile stocks are exploding higher yet again on no volume as traders game the market on next to no volume. And the whole reason is because QE 3 is coming? The credit markets, bond markets, and Gold certainly don’t think so.
Indeed, I fully believe we are about to enter into the next leg down for this Crisis. The financial system is on DEFCON Red Alert (no matter what stocks are doing). And smart investors are taking steps to prepare themselves and their portfolios NOW while the markets are still holing up.
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"I have never met a wealthy technician" Jim Rogers
The chart doesn't look good. So what? Predicting the future by looking in the past....the recent past mind you. Good luck.
Can we block Phoenix Capital somehow?
Don't be silly...this is a new paradigm. We have reached a permanently high plateau.
If you wanted to be taken serious, why would you call yourself Mr Poopypants?
Because this shit is serious.
Sure he's selling something, but so far he's been right. And much of what he says is similar to TD, Faber and others.
Stocks drop after QE2 ends? Check.
No QE3 right away? Check.
QE3 needs much lower stocks and/or systemic shock? Sounds about right to me. We'll find out soon enough.
Meanwhile FAZ is back to pre-August levels, time to load up again and wait.
What about all the corrections caused by manipulation and margin increases?
The "fundamentals" I consider are that the EU and the USA are not getting their respective financial houses in order, the printing of money is obscene, countries are demanding GOLD as either payment or collateral, and there are no new sources being discovered.
$1650? maybe for 1/2 oz next year.
God, gimme a fucking break, the constant doom mongering to sell a fucking newsletter...
I get it already. Each newsletter will be a rehash of the previous one...
With all due respect to Mr Summers , I don't think a correction is the same thing as an orchestrated kick-in-the-balls by the government. That is about the third low blow in the last few months. get a clue.
It's 4:30am... Serious attempt by EE to take down gold began about 25 hrs ago... gold is now at $1829...
So, where is the takedown? Every dip is being bought. Phoenix needs a new crystal ball.
"I have never met a wealthy technician" Jim Rogers
my clue came at 300 gold and 4.25 silver . and your clue came when
inflation adjusted gold should be much higher so they the summer guys of the yale bell , have surpressed price all the way up .
and in jan 1980 unloaded gold at about 800
and where we you in jan 1980 . i know you dont have a clue .
I guess gold could drop to 1650, but I think the chances are better that monkeys will fly out of my ass.
If it does, I'll apologize after I place my order with APMEX.
I would love to see 1650 but I am not waiting to buy, too much fiat in the safe as it is.
Miracles do happen.
http://www.ebaumsworld.com/video/watch/954569/
I just do not worry about gold going to 1,600, 1,700 or 1,900. I know why I have it and will add when I can. Gold has been basing nicely. Nice if it hangs around these levels to work off the excess.
phoenix must not understand gibson paradox,, the leasing of gold to keep the price down. the huge attempt to keep gold prices in check. and all the stuff going on in gold as documented by GETA.
and of course never looks at the kitco charts of gold where as at a certain time the price of gold drops like a rock ,
some how his shit is better than murphys stuff .
gold is being forced down because Q3 is on the way a nd the gov and central banks do not want gold to get ahead start ,
and as long as phoenix keeps posting this nonscience i guess they will fool some , but those that follow gold even richard russell knows whats happening in the gold world.
Charts, farts, worthless interpretations of manipulated markets. Just get and keep your physical and watch the fireworks.
actually the chart is showing a pennant formation geting tighter. Blowout top friday morning.
And a long weekend
No asshole, gold will bottom on the next NFP number and it will go up till mid December, then level off toward January.
Gold is taking a breather now, I doubt gold would drop back to $1650 because there seems to be buyers come in on the pull-backs.
Many investors have awaken to the reality that the economy is going into recession again and that the administration will pull out
all stops to delay the inevitable. With elections on the horizon, efforts will be taken to prop up the markets and investors are taking
advantage of this in the short term. But many investors are aware of the consequences of keeping an ailing economy from sinking
fast by throwing large sums of money at it. Those consequences will be positive for the price of gold and investors are taking advantage
of every pull-back in price to acquire gold to protect their wealth from the coming crisis.
There is a saying i heard on ZH that i cant get out of my head. i keep telling my friends and they think i'm becoming a scientologist....
'when the gold mothership takes off.... many will be left behind'
:p i love it!!!i love it so...
I believe it was ZH's own Gordon_Gekko who said (words as close as possible that I can remember):
"All else willl be left behind when the Gold Mothership takes off."
---
That is probably trackable via ZH's search function on each one of us here, I am just too lazy to do it...
So today I stumbled upon a uTube interview with the web bot guy (Clif High). An extensive interview, it covered alot of ground. None really good for the short term welfare of humanity though.
There was one exceptionally curious part to it (at least to me), Clif remarked as to how he'd observed an extraordinary amount of mega-yachts visiting the Puget Sound/Seattle area this August ...headed North!
He couldn't fathom this, ... which was weird because he'd earlier mentioned boats as an escape plan. Nevertheless, he later went on to say that we should watch the movements of mega-yachts, as they are an indicator whatwith their owners having access to such high-powered economic advise and all important insider information.
Hello Clif ... If I was a mega yacht owner wishing to move my assets out of the way of SHTF this next 6 months, I couldn't think of a better area to sequester beyond human threat than the Queen Charlotte area in winter; a remote area in a first world country not known for civil disturbances.
Now of course nothing will likely happen this winter.Life will grind on.
Clif probably misread the web bot tea leaves.
The EU will solve their issues, the U.S. will successfully skirt its rendezvous with bankruptcy & fascist totalarism.
You all go back to watching TV. Things will be fine. Trust in your government.
I have listened to Cliff High on Coast2Coast Radio. His assertions are plausible and interesting. I do not completely accept his methodology, but it is worth considering. Would you post the YouTube URL?
More garbage from Phoenix capital. Why is this garbage even posted here?
They put the garbage out on Wednesday night because the trashman comes on Thursday morning.
Everyweek about this time we get the same infomercial. Oh well, I'm switching to a channel with some content on it!
Shameless Promotion Bitchez!
Buy my newsletter and Ill tell you how to avoid losing your ass.
Before its too late
"I have never met a wealthy technician" Jim Rogers
lol
" Indeed, if it doesn’t rally hard now, this pattern could see prices down to $1650 in short order."
I call bs on this half azzed prediction! My crystal ball is better than his...
Gold is being stuffed (with little success) to provide some credibility to the premise that further stimulus can be provided without further loss of confidence. Beachball, beaches!
In nine pages he'll tell you precisely how the crisis will unfold. You have to admit, the guy is funny. It's always interesting to see something where everything is specious nonsense.
Bastiat buddy, that must have been a shock seeing your doppleganger appear out of the blue. Some dude who wasn't a newby, used bastait's full name and hasn't spoken a word on these threads.. like forever.
i don't know how i'd cope.
the closest i've got is colonel kurtz and he's a goddam legend. where ar u colonel!?
Heh. The web is curious place.
while I agree Gold may see $1650 again, stocks are getting sqeezed from shorts, nothing else. Once those touch the MA, its all downhill from there unless Benny saves the day. And god save the queen after this Friday's NFP print.