Loading ...onthebeach said
‘ SCAM :The world’s financiers must be laughing their asses off as the USA destroys its dollar by printing more to pump the dollar so other countries like China can sell off their reserves at higher rates.
Buying dollars = dollar goes up = deflation disinflation in USA?
If it is big money flowing from overseas into our markets then we could have a big rally ahead. Still I’d have to think that big money would be a little wary of our economy and the toxic waste still left in our financial institutions.
I can see how the guys think the worst might be over with gas coming off $.50 but my feeling is that things are getting worse in housing and the economy. In the markets these things seem to mean very little, so we’ll find out soon enough.
I really think this availability issue is a short term phenomenon. Maybe I’m just too skeptical too much of the time. I mean we heard the exact same thing when silver was around $19-$21. Let’s face it, if the physical market is going to lock up, it will be in the futures market when the commercials can’t deliver — right? I haven’t read any reliable reports of large players not receiving delivery. This other stuff at coin shops and such I believe will work itself out soon enough.
As far as JS goes - I typically wouldn’t even bother getting involved this type of crap. I don’t really comment much about any gold analyst. However, since I first become involved in these gold boards, I have noticed several things that trouble me. He is undoubtedly one of the most plugged in gold personalities. His tentacles seem to reach into every corner of the market and he is very well connected. Followers will literally do anything to protect his interest in forums like this - and apparently it really is that important.
If you have a viewpoint that ends up being substantially different from his, it will be met swiftly with mockery and jeering by his disciples - especially on pretty high profile PM discussion boards like this. It gets to the point of complete group think. Or in actuality, the group stops thinking and just follows directions blindly. It is as if your opinion is totally invalid — if it is at odds with this ‘guru’. A couple of posters here repeatedly brought up this notion to me personally — to the point of real condescending behavior. It doesn’t really bother me that much — as I primarily trade options and am always on the lookout for such lopsided psychology.
Stories I’ve heard about his gold trading in the 70s are legendary. So much so, that it is difficult for me to believe he didn’t have inside information from TPTB. This of course will be met with ridicule as is the usual. However, there is little doubt that he is way too plugged in and knowledgeable to have missed this move so badly. If you think this is a typical bull market correction - I would beg to differ. Over half of silver’s cumulative profits since the bull market began at $4 have been wiped out. I wouldn’t mind reading everything he ever said - or more importantly - didn’t say when silver was north of $20. All I ever heard from his chat board disciples was that this was “it” and you’ve got to be basically all in. Even on the bounce a few months later - which was an excellent exit point - again I only heard positive price predictions from what I saw here.
It seems the same can be said when the all important technical neckline was taken out. The big greed carrot was all that you saw mentioned. Let’s face it; it should be pretty clear that this wasn’t the “big one” like everyone thought. It should also be a valuable lesson to everyone capable of making their own independent decisions when real move finally commences. Don’t make the same mistake twice.
This poll from early April is real telling. I voted for $700 and later when questioned about it, said i probably should have picked $750. At this point, either one seems plausible. I believe Rambus said that he was one of two who voted for $750. The voting alone was a great tip off for a top.
i found some watermelons growing wild where i run my bird dog. they are delicious. i saved some seed to send to irish. no hybrids growing wild!!!
rno
What you say makes complete sense. My cynical mind wants to think Barclays is involved in one way or another because of the SLV ETF. My “what if” goes like this: What if Barclays bought futures contracts instead of physical as backing for the SLV?
Course Barclays is not an eastern bank - so that would probably negate my theory.
Thanks for responding and always being so kind. I really favor the design of the Panda’s. Nice buy. :)
dollar and the general markets is coming from much bigger people than J6P. The psychology is the same, though, I heard it from some guys this morning…gasoline going down, market going up, looks like the worst is over. That false confidence can carry people into total ignorance for quite a spell…of course, all the guys I was talking with have jobs…..
I was just wrong. Wrong in what I was seeing and wrong in my approach with you. I regret it.
Believe it or not I do pay attention to your posts and your charts, and if I’ve learned one thing this go around it is not to out and out dismiss anyone’s views.
We start fresh from here.
the dollar index will hit significant resistance at about 78.000. the rsi is above 98 so it is almost off the chart in the overbought category. major turnarounds usually come around holidays. i was short the usdx and expected to get a reversal up next week. what do i know?
rno
rained twice here today. you would think this was seattle.
rno
“The real forced liquidation appears to have happened in the silver markets IMO.”
Yes, I believe you are correct and that is what I heard from my best bullion guy today ..Someone leveraged up has been smoked..rumors abound that it’s a far eastern bank so could explain the overnight bloodbath;..Yet that is paper, the physical is still difficult to get around here for whatever reason and that never used to be the case …But I managed to get a few of these babies :
Sure looked to me that Phelps finished second - but who am I to believe - the official timing boards or my lieing eyes!
I’m sorry for our negative exchange of opinions a few weeks back. I’m the easiest person in the world to get along with until someone puts a lol after each comment about my work. I have been charting and following the markets on a daily basis for 34 years, its in my blood. When I post something there is alot of thought and energy that goes into what I say, right or wrong. I knew you and most other folks in the tent didn’t know what I was seeing at the time and that is frustrating for me to try and convey an unpopular scenario to a group that didn’t want to here it. My charts are unique onto me as I have shown you things that no one else is seeing. I will not always be right but what you get from me will be an honest and well thought out post with 34 years of charting experience and analysis behind it. Outside of a few months on the old GE forum this is the only place I have ever shared my charts. I hope we can both grow and learn to accept opinions and ideas that are not easily seen by the many.
Peace to you Buygold…Rambus
Have been out all day and just catching up on postings …. it appears that a few nerves were severed today. This imo is very unfortunate …. especially during these very unsettled times in the pm’s … when we all need the support and encouragement of each other. It would be tragic to loose anyone here because of hurt ego’s or from some kind of misunderstand …. or for any other matter. Don’t know what really happened but I assume some posts were deleated that may have shed some light on the issue(s) ….. so, I’m just kinda reading between the lines. For those who are thinking about leaving this informative site ….. I ask that you please reconsider.
Everyone has their own way of doing things ….. and on that note, I would like to pay tribute to one artist who unfortunately left us on August 16 …… he certainly did live life “his way” ….. sometimes good …. sometimes not so good.
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(((Reminder)))…david bensimon ,,,on cknw tomorrow am 11.30 am- 1 pm eastern
