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Golden Chart Porn
Courtesy of the StealthFlation Blog
Triple Bottom - Consecutive Higher Lows - Potential Reversal Pattern
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Ahead? It now weighs more? You don't get it.
The inside of a bamboo stick is hollow. Void. Dwell on that and you will know wisdom grasshopper.
The value of "something" is not an issue to take lightly. Value is not a constant and can be derived from several factors such as how liquid a market is, supply and demand or utility value, things can spoil or become obsolete making where you invest very important.
Over the years I'm sad to say I have found chart patterns unreliable. Value is not as constant as many people think or always destined to rise. I have discovered that when you start buying things at ten cents on the dollar your money begins to go a long way. This is a lesson many people may soon learn, or maybe not. The article below delves into how values constantly shift.
http://brucewilds.blogspot.com/2012/11/what-is-something-worth.html
I am truly happy to give you a green on this one. You speak from experience and insight. Your logic is sound. You impart useful information. This is what is missing from the rest of the blather you've been posting.
I only wonder what kind and of blistering prose you'd post if you had to support a family of five on min wage for a year or two.
(Or negative income god save your soul
What the hell does that have to do with what he said?
What the hell does that have to do with what he said?
I simply know for a fact that gold IS being manipulated downward.
WHY?
1) It's an historic fact that CBs do that (London Gold Pool).
2) It is not in the interest of centralized and coordinated monetary policy to allow gold to trade freely (remeber Paul Voker's comments about the 1980 spike).
3) Admissions and legal action show for a fact that every other market is being manipulated. So is gold really immune?
4) You can't sell a $1200 good at $550 dollars for very long. If you could, Marxism would have worked. Only the Ponzi of a derivative market can keep that going. And that means a shortage is coming.
So what do you do? Sell PMs and get into stocks? I don't think so.
All acurate and spot on....................
They're going to suppress the price as long as possible and try to kill gold in the paper markets....
Then it gets outlawed again or taxed to oblivion.
And the average cost to produce gold now...around $1,200 ... thats cost. Fair Value $550?
Nonsense
waiting for the iphone/smart phone in solid gold cases, then watch the price of gold. the rap world loved bling just think what demand there would be in da hood for gold iphones..the mind boggles.
Gold/silver has been heavily manipulated down for decades.....and since 2008 has been massively manipulated downward to the extent that they are no longer able to hide the bizarre ovious daily take downs which beggar any type of logic.
Especially when the fact is that there has been huge demand and accumulation of the physical metal, as opposed to the naked short selling.
The only thing that keeps a whole bunch of people out of jail is the CFTC is itself there to enable a trouble free corruption of the 'market'. Its reason for being is to enalbe immune corruption as directed by their banker masters.
Considering the extrem efforts over a very long time of TPTB to keep gold very low....it still out performs in the millenium.....and they know the moment they stop their daily naked short selling, gold and silver has an upside of orders of magnitude of anybodies guess.
Think of that...the moment TPTB relax their efforts gold/silver immediately fly....
Gold is destined for fair value at $550.
You fail to note the "lower highs" and focus on the "higher lows". The point being that it keeps on dropping... as all bubbles do when they defalte.
Gold is not MoMo any longer and it will continue to lose value as there is 1) no mass interest 2) stronger dollar 3) the holders who are down 30%+ (that should have sold at 10% down) finally throw in the towel.
Charts = tea leaves. The problem is there is a segment of the market that likes reading tea leaves so they have a marginal value on forecasting what the fringe will do.
'mass interest' is irrelevant. There are major entities that demand gold. Fail to satisfy them and they will bid for physical and crush the paper markets.
Hey Flaco,
Don't agree. The only thing that could possibly drive gold to $550 would be an economic recovery that took off like a rocket ship. Ain't gonna happen. The economy is not healthy because the social fabric that underpins it is rotted. At this point, ultimate collapse is inevitable. The economy will not recover until the ultimate bottom is reached and rebuilding will take decades. Gold and silver will maintain their historical value throughout this catharsis.
In 1900, an oz of gold would buy you a fine suit. In 2000, an ounce of gold would buy you a fine suit. In 2025, an oz of gold will still buy you a fine suit...
Gold will maintain it's monetary status as long as humans are in charge of the planet. All bets are off when the AI rises...
Physical Gold is currently being accumulated around the globe at the most torrid pace on record.......including central banks shoring up their suspect reserves........
Someone certainly values the precious metal, just not you apparently;-)
Whilst I firmly believe in owning gold, not from an investment viewpoint, but as a disaster play I am bemused by the continual reference to "Physical Gold is currently being accumulated around the globe at the most torrid pace on record " and similar statements. With the exception of "new" gold just mined, for every buyer there must be a seller. It is therefore illogical to talk only of the buyers without recognising the sellers. At best you can say that there has been a lot of trading in gold over a given timeline and that there is a general geographical move from west to east. If I'm wrong, please explain which part of my understanding is incorrect.
There are more physical buyers than sellers today, however, that basic supply demand disequilibrium is simply not being reflected in price, which is being systematically, synthetically suppressed via the COMEX by the authorized bullion banks that have a vested interest in maintaining the credibility of their Fiat.
What you say about a seller for every buyer certainly holds true when the seller is actually offering up the physical commodity in question.
And, yes I was speaking towards newly produced gold as well. China, for example, accumulates every ounce it mines, and yet, continues to be the largest net importer.
"There are more physical buyers than sellers"
How is that even possible? Surely the buyers and sellers must be identically matched by definition? Now if by demand you mean the desire to buy exceeding the quantity on sale then I can understand.
Yes sir, that is correct, there are more willng buyers in the physical market than willing sellers................
Cut me some slack Rex, I'm French;-)
Bankers sell paper gold at the Comex. Last I heard, Comex was settling in cash(since 2012).
Bingo!
GLD is what? 100 to 1 vs physical? In a big selloff, margin calls are going to force GLD holders to sell and that'll drive the price down. Buyers of physical are very happy with this state of affairs, cause they get it at a great price. Physical gold is an insurance policy. Buyers should be planning to hold it long term, not as a trade to get more rapidly depreciating paper currency..
Gold is money, all else is credit. Using the term insurance is a fiat money illusion. In the long term, the banksters will never let gold go down too far because it would mean their fiat bubble has collapsed! Gold price is the measuring stick for the monetary tide. It's currently(temporarily) going out.
Is that not the case just before a tsunami?
In my view, all the weak hands have already sold their shares in GLD.
Those currently participating in the GLD ETF now are either trading it, or long term holders...............
The mass exists have already taken place. Infact, I believe the AUM for GLD have been cut in half since the highs...........
Caopiche brother?
GLD (and SLV) are nothing but Bankster frauds and ponzis. Anyone equating these ETF's with holding physical is either willfully ignorant, in denial, deeply asleep, or a form of all three. The prospectus of these turds resembles swiss cheese. There is no transparency or accountability in regard to actual holdings. Look at their custodians, HSBC and JPM.
Sad, pitiful and comical.
All you say here is true brother.................
Which would perfectly play into their hands when they stop QE...MASSIVE deflation, then after many die a slow death inflation...and stop. NWO. People would be begging for it by then. Remember Kissenger's comment about LA?
They will take paper gold values down with deflation and people will sell just to remain alive. If you can hold it long enough you should come out ahead, but that's not what they want. My prediction after the great crash of 2015: They will confisicate all PM's and store them as collateral for the upcoming SDR/NWO currency exchanges.
imho
Gold remains the best performing asset class of the New Millennium, bar none.
Perhaps, you should ask yourself why that is..............?
The country is monetizing its insurmountable debt loads, with no end in site.
Let me know when that changes.................
Zirpitty...doodah......zirpitty....day...........my oh my what a gorgeous golden day;-)
Perhaps the following will help you:
http://www.zerohedge.com/news/2014-10-19/safe-haven-bid-bogus
http://davidstockmanscontracorner.com/truth-of-the-monetized-new-millenn...
i dont argue with that or that gold will continue to outperform, but your charting is wrong, if you reversed that chart to the upside it would look bullish. there is a golden opportunity to buy gold, and gold is the leading indicator for the markets, yes gold is great, but it will be even better later on
Sorry to rain on your parade. Prime central London real estate has been a better asset. Not that it will continue to be going forward. Don't shoot the messenger.
Silver bitchez!
Is London prime real-estate up six fold since we entered the New Millennium? I don't think so brother.
Gold, quite simply, is The best performing asset class of the New Millennium.
Let me know when that changes, then I'll be happy to take my ball and bat, and go home. Until then Gold remains a walk off grand slam...................
Interested to hear your thoughts on this.
http://www.stevencoogan.co.uk/our-services/investment/
Above is what I refer to
That is strange when I look at GLD the triple bottems are lower and lower, not rising. Also The dollar is rising and that is negative for gold. I would buy JDST.
Could that be indicating that the GLD is driving the physical and not the other way around?
GLD is droppings in the bottom of the goldfish bowl compared to the 'gold' traded on the Forex (as XAU) every day. ditto for Comex. These is enormous (albeit) paper gold trading everyday on the currency market. There gold trades exactly like a currency in the volume that currencies trade in.
Physical gold is less than those droppings...it does not even move the needle. Only when the paper markets fail will gold rise to any significant degree....then it will explode higher. It rose 24X in the 70s. It is wound up even tighter now.
Agreed, I was viewing GLD as a proxy for all paper gold trxs. Don't they go in concert?
This ain't no GLD , this ain't no disco, this ain't no fooloing around........
This is the real deal......................baby!
I'm still buying bisquick and peanut butter....to last MOAR than a couple of days.
i think it will break, because the commodity market is breaking, and knock three times, then enter. the P&F objective is 1020, don't worry gold will have a lot of company on the downside.
Commodities are a good thing to watch like with China. The government is saying one thing but commodity over-supply and price is calling them a liar.
Consecutive Higher Lows = Triple Bottom Reversal Pattern
consecutive lower highs as well though, right? Looks like it's coming to a long drawn out tapering or reverse type "megaphone" pattern...at some point as those 2 levels converge then price will have to make a decision on which way to go. I'm thinking we don't have much longer before it explodes higher to new record highs in silver and in gold, platinum, and palladium.
where are the chartists yatchs ?
THere aren't any but they are buying canned food to loadup the yatch
Bad news. Too much bullishness here.
http://www.nowandfutures.com/images/cot/GC.png
Is technical analysis even possible in a completely manipulated market?
Yes, but while you can analys it, you can't make accurate prediction's going forward from it.....
Lol. Exactly