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BofAML Turns Bullish On Gold
BofAML's MacNeil Curry is changing his view on gold from bearish to bullish. The impulsive gains from the 1251 low of Oct-15 and break of the two-month downtrend (confirmed on the break of 1330) tells him that a medium-term base and bullish turn is unfolding. BoFAML looks for an ultimate break of the 1433 highs of Aug-28, with potential for a push to 1500/1533 long term resistance. In the next several sessions Curry suggest buying dips into 1309, cautioning that this bullish view is "wrong" if gold breaks below 1251. For those awaiting additional confirmation of a turn, Curry notes you need to see a break of 1375 (Sep-19 high & right shoulder off a multi-month Head and Shoulders Top).
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Really? So a bunch of blog commenters on ZeroHedge were right and a too big to fail bank was wrong? I'm so confused.
OT: Tylers gimme a fuckin break with this ad bro
http://pagead2.googlesyndication.com/simgad/489747812201855461
Yes, yes..., the train is leaving the station...
to the moon, baby...
If I had a dollar for every time the time was right, I wouldn't need Obamacare.
Tyler, I've been getting a lot more ads lately when I visit ZH. Is there a recommended amount to donate to keep ZH more ad free? I think it's important to keep ZH free to the public, like Wiki, not a membership site. Joe public needs some real financial reporting. $20, $50, $100?
my ad blocker gets rid of all of them but the text ads up top. look for a ad blocking plugin
Mine too
ADBLOCK , NOSCRIPT, FIREFOX
All free all the time
https://addons.mozilla.org/addon/1865
https://addons.mozilla.org/addon/722
http://www.mozilla.org/en-US/firefox
Use Firefox and download the adblock plugin.
Whay are you blaming Tyler? Where have you been surfing? ;->
Hey, it could have been worse ....
ACK!
Damn. Why did I hit that link? I knew it was going to be bad.
You guys getting goatse ads too right? Right??
(nah, adblock all the way baby)
Thanks akak, you owe me dinner. The rest of mine just went to the dogs. I guess a coupon for a .99 chicken breast would suffice.
Miffed;-)
Blowfish !!!
i concur
RedPill: Perhaps that ad was served to you via Google's Remarketing, based on your past search and surf history?
1) I private browse always, and avoid google via ixquick/startpage
2) that crap is nasty!
You can go private, incognito, tor, and clearing cookies and still be shown remarketing ads linked to your (or a proxied IP), a Google account login, a latent cookie or that session's search and browsing history.
Just get Adblocker yo.
I'm making the call now. My crystal ball just came back from the shop. It is great at technical analysis.
If gold breaks below $1,250, it will also break below $1,249. Alternatively, if gold reaches $1,500, it will likely surpass $1,501.
Sir, could I interest you in a position at a major investment bank? Your skills clearly put our finest anal-ysts to shame.
I personally prefer to forecast 'Goldman-style' and just report on what's already happened. I find my accuracy is pretty much 100%. Eg 'today gold was off slightly in the overnight session as investors sold off on fears of Chinese tapering, recovered most of the loses at the New York open on USD weakness, and then softened again late in the day as confidence increased that the US economic recovery is gathering steam'.
I have about 5 different versions, and just cut-and-paste them. I'm considering selling my forecasting library to Bloomberg, Reuters, Marketwatch, etc....
ADBLOCK , NOSCRIPT, FIREFOX
enough of this ya tards.
https://addons.mozilla.org/addon/1865
https://addons.mozilla.org/addon/722
http://www.mozilla.org/en-US/firefox
Ads are personalized, tranny porn ect. You don't happen to work for the SEC do ya?....sarc/on
I don't thinks so. I'm now getting hot muscular local muscular women who want to meet me. Asian women that also have the hots for me. Women over 55 who really know what I want. I'm getting concerned I'm really a lesbian.
Miffed;-)
LOL - that really puts our recent conversations in a different light!
I switch browsers from time to time so I don't always have ads but when I do I get these really wild voluptuous things For Male Gamers Only. The Asian women one, too.
It's made my husband wonder just what this ZH thing was about.
Ok you two have got me laughing! I've got the male gamer one too occasionally. I have had this incredible urge to play it. I mean, how the hell will they know I'm not male? ;-)
But I also have an insatiable desire to run into the local Mormon Tabernacle to soil it so they'd have to rebless it. This is what happens when you don't play well with others and run with scissors.
Miffed:-)
:)
I'm snipping the articles & comments out to save as draft emails so I can close the web page itself when reading at work. At home adblock stops it all anyhow but it's hilarious to see some of those ads.
I almost miss the snorg-tees.
geez.. I would hate to have to go up against that in fight club..
Yeah the ones smart enough to get bitcoins. Totally right. 220. Jumped the price of one silver oz in a day!
I mine one bitcoin I get 5 oz of silver. Yeah it IS cheap to mine silver
So we should mine just enough Silver to enable your virtual mining, then go out and buy more Silver. This should turn out well.
I guess the cost of the hardware and power are free in your eyes.
http://www.bitcoinx.com/profit/
Good luck with that.
Yep, $150K / day in power consumption alone.
For sure. Find me a massive parallel processing rig that's all optical or maybe even all solar-electric which is less than 1 BTC to acquire and produces at least 1 BTC per week - then sure, why not. In BTC terms then it's at least in profit so then revoking those nonsense digi-tokens for nonsense fiat allows me an appreciable amount of silver for delivery.
But can such a rig be set up at that cost including all power consumption? I certainly won't waste my NORMAL CPU usage on such a thing (I use quite a lot) nor an appreciable amount of money (nothing exceeding $200, ever).
I have no faith in BTC & no use for it but with the conditions listed above it could be useful for say... the next year.
you guys are so fucking dumb it's hilarious
what a circle jerk echo chamber you live in
Seriously.
SRSLY.
You do so little with your electricity & CPU time, you make so little money, that you would get 5 oz of silver faster from doing that for BTC than for something else?
Well... I guess if it suits you. Leaves the rest of us more time to pile into the actual silver actually right now so by the time you get your +1 BTC the price has jumped for real physical ounces and you're out in the cold.
Good for you.
clocking 2 a day.. so thats 20 oz a day of silver if i care without doing a damn thing
about $3 a day in power
your move
and the equipment cost?
Just how much CPU & memory is that costing you?
2nd Gen ASIC
and perhaps I will act like GE with my cost basis, maybe my town will give me a tax break for providing liquidty and economic growth.. I'll lobby for it
tells me nothing.
If I can't get a straight answer for gb & ghz I will ignore.
cough cough ... I have Queen Victoria and King George next to me ... they "shine".
Guess who went shopping for sovereigns today? Keep stacking.
Pig pile OUT of Gold.
No wait. Pig pile INTO Gold.
<Just another commodity as long as it is paper that is being pig piled.>
You simply don't own it if you don't have physical possession.
Sigh. The life of a market lemming (with the obligatory ten second attention span) is SUCH a difficult one.
Just ask Dennis Girthman, with his daily flip-flopping of "gold in yen terms".
Or RobotTarder, endlessly chasing the latest stock-du-jour.
Or good ol' Leo, perpetually remora-riding Bernanke's asshole.
Lemmings one and all.
What could possibly be a better recipe for success than Technical Analysis applied to broken and/or manipulated markets?
Good point, Tinky. I like/love my PMs as much as the next guy...but I would like to see a break of 1485 coupled with declining equity markets before I get excited.
If you didn't measure it with a chart how would you KNOW it was broken? The question answers itself.
"...buying dips into 1309, cautioning that this bullish view is "wrong" if gold breaks below 1251..."
What if it dips only to 1252 or 1253? What if it dips to 1251 and then up to 1259 or 1265?
These EXACT numbers???? Oh, come on...charts and chartism, market technicians and waves are increasingly meaningless in a totally manipulated, herd-driven "market"...
He's refering to the support and resistance numbers from the 14 day , 60 day and 200 day moving averages.
The numbers are hard and accurate. Next gold resistance is around 1380 for the 60 day and 1450 for the 200 day averages.
To the moon!
"The numbers are hard and accurate"
Like a limp dick that magically grows to 12 inches?
those numbers are anything but hard or accurate. MA's change with each daily close and by the way - was that LINEAR or EXPONENTIAL decay moving average? Hm?
The answers matter.
What is likely to happen is that it dips to 1248, takes out all the stops, and then bounces back to 1260.
Damn it!STFU you dumb friggen bank! I want to buy moar on the cheap for the coming devaluation.
Show me 800 so i can really get excited about converting some more frn's
Waitaminute.
So what they're REALLY saying is:
I seriously want to start calling her 'Ol Yeller'. After all, she may have a deathwish for the dollar, but she's going to make anyone with certain yellowish metals quite a bit wealthier (and scared witless as the speed things drop in the pot quickly accelerates to light speed).
There's gold priced as an "investment" and gold priced as "insurance".
Gonna be two difference prices.
So it's a go. 51% of the shit bag analysts are bullish on gold, 49% of the shit bag analysts are bearish on gold, 0% have any fucking clue what they are talking about. It's all white noise.
Many are right, the tape is certainly being painted for many of these markets, some of the time (hard to do it all the time). The boys who are doing this know their game, or more importantly know the game of most people who rely on charts. They know how to set many market particpants up for a fall. So instead of being used by the boys, use them.
Start to look at your charts from a fake out point of view, when they look terrible, when the selling gets aggressive, especially through a chart point, realise it's a good chance the boys are at play setting the market up for a good move the other way.
It's not always easy to trade this way because the boys love to make it scary on the downside. If there's a ttrick then it's to wait for the big moves through the levels and if price goes flat then that's your buy. Doesn't always work of course but profits should be good when they do.
Summary: Use charts not as the textbooks suggest, rather as a battlefield between those who practice traditional TA and the boys who like to play with them. And if you can work out what's happening on the battlefield with all the deception going on, you can profit. In fact thinking about it charts are a battlefield of deception...
Calc - with respect, your advice has only worked with a BTFD strategy for the last 2 years.
Yup! Deception in market charts like in chess moves is the primary tactic.
Understanding the strategy is understanding the deception.
It's all fine if we SAY we "understand" the charts to mean something which is absurd & mistaken... so long as we definitely act in a different counter-deceptive manner.
I private browse always, and avoid google via ixquick/startpage
Yep, dat makes u a terrist.
LOL - head & shoulders!
This is math, not shampoo.
And that's why many traders Fail(tm).
Using cup-and-handle, head-and-shoulders or Elliot-wave-goodbye to your money, you may as well load .50 cal Failtonium bullets into your Failcannons and put your mouth right on the muzzle.
Western Central Banks Suppressing Price of Gold As China Preparing for the Demise of the Dollar
We continue to investigate the recent manipulations in Gold market and building piece by piece our big picture with the ongoing groundbreaking geopolitical processes. Bill Murthy from GATA and Alasdar Macleod are sharing their deep knowledge of the Gold market and industry with us today.http://sufiy.blogspot.co.uk/2013/10/western-central-banks-suppressing-price.html#
September Nonfarm Payrolls Huge Miss - Gold Spikes Up, Data Leaked Again GLD, MUX, TNR.v, GDX
"We have September Nonfarm Payrolls with the Huge Miss and Gold Spikes Up immediately. Data was leaked yearly again with Gold printing:
+$5 at 8.28 and +$18 at 8.33 "Cowboys" shorting the Gold market, according to Eric Sprott, must be in a serious trouble now. The yearly trade on October 15th has amounted to 640 million and Gold was Sold at 1270 - 1250 levels. Now with CFTC out of hibernation can we expect at least some kind of investigation? There are more and more calls about the US Dollar loosing its Reserve Currency of Choice status now. Default was avoided, but the damage is done.
All FIAT currencies are based on trust. The geopolitical shift is making its way to mass media and we are witnessing the groundbreaking developments in the Gold market. Nobody can manipulate it all the time and China will be busy writing "Thank You Cards" to the FED and related Cartel members at LBMA and BIS, buying all the physical Gold available for Delivery at this levels. We can forget about the Taper until mid 2014 now and Janet Yellen will be following the new FED's playbook written by Michael Woodford. Peter Schiff has dissected for us this situation very well."
Read this and understand that the dollar's days as reserve currecny are numbered, as are the days of the petrodollar and the corrupt Anglo-American Empire:
http://rt.com/op-edge/us-debt-gold-price-threats-481/
If you don't hold gold you will be wiped out. Today's dollar price is unimportant unless you are trading for short term profits.
Ron Jeremy long on gold - Crystal Gold
Gold should trade to the upside and move sideways.
http://bullandbearmash.com/chart/gold-daily-channel-resistance-broken-wa...
This move up is largely corrective - in other words, we won't be heading toward new historical highs.
Kitco is a pretty good site for news.Daniela Cambone is hot man.
Chartography/ology has no meaning anymore since the PM markets are totally rigged. Anyone who bets on a painted chart is a fool, at least until the Crimex and LBMA thieves run out of gold. Only then will markets be able to give us all a true picture of supply vs. demand.