Loading ...What’s going on there? Just technical as Mr. Copper pointed out?
Says something about the B.S. with pm’s today.
I guess if we see rates spike with the dollar down then we’ve got some problems.
Captain Hook
As I said this is so far a 3rd wave dn in a C down…nasty fast and strong…..that said on the big picture we are still not far from the Hi’s……
Also if this is a revaluation move, then what we have seen so far is a panic sell off, once 5000 went properly……I note the selling has now stopped, lets see what happens twds the close……if it;s a revaluation move we shud see buying soon.
Cheers
James Dines, the ‘Original Goldbug,’ Remembered by His Peers
I started reading the Dines Letter in 1979 until his death. He used to say “the Dow was in the sky above 1000 from 1968 to 1982” every time it got above 1000 until 1982. At that point in June 1982 the Dow was at 796 and he switched from precious metals to the Dow, an excellent call, unfortunately he called the PMs sell advice two years too late.
I read his book The Invisible Crash, where he described the invisible crash of the Dow from ’68 to ’82 where it went flat plus real estate also flat for 14 years as rates were jacked up to 21% while most other THINGS like gold silver and oil were going higher. To him, going flat for all those years was actually a net crash adjusted for inflation.
P.S. He also predicted the Dow and the Gold price would cross and it did, with the Dow and Gold both around 800. If that happens again, where would they cross?? 25,000 Dow and $25,000 Gold? Who knows?
Parts:
An avid market technician and student of investor psychology, he called himself “the original gold bug,” and liked to recount the story of how he was fired from Wall Street for recommending gold at $35 an ounce.
In 1980, The Wall Street Journal wrote, “Metals mania vindicates such economic Cassandras as James Dines, who for years have urged investment in gold as a safe hedge in an inflation-weary world.” In the same year, Barron’s noted, “James Dines’ prediction—that the price of bullion would someday cross the Dow-Jones Industrial Average—begins to look like one of the most fantastic investment calls on record.”
Over the years, Dines continued to make controversial calls that would come to fruition. Financial Sense Wealth Management notes that Dines, after a trip to China in 1977, “predicted that ‘China would dominate the 21st Century’ after Mao died; he was the first to prominently recognize the bull market in internet stocks; he predicted a ‘uranium boom’ when the metal was at $8/lb before it rose as high as $138/lb; and a proponent of rare earth metals at their proverbial rock bottom before they skyrocketed.”
Sng
Ps much safer on paper than mace.
Sng
Yep just resting in my hands. My short insurance stock just went boom.
silverngold
Don’t be discouraged. The Bull is just resting for a bit. 🙂
Trippy
Champagne Joshi
@JoshWalkos
This is incredibly well done.
Recession Coming?
Otavio (Tavi) Costa
@TaviCosta
·
14h
This is a remarkable chart.
Oil surges like the one we’ve seen recently have consistently preceded recessions.
Chart by
@thierryborgeat
Michael Yon on what is what …
… a must listen … listen closely … the world is in chaos and your enemies are closer than you think … expect pandemics – lockdowns – and famine to follow war …
… buckle up butter cup … decentralization will accelerate now … the old system will collapse … physical PMs are a must … prices are still low … everything else is subject to confiscation … all dips should be bought … the lower the better.
Let’s see how prices finish the week.
Spit
goldielocks @ 9:14
“Short interest” I’m not surprised!
Maddog @ 7:57
Looks like more shock and awe to me.
These people have a big problem sourcing physical right now and they are doing their damdest to shake some loose.
Look PMs are crap … but our crap is not crap … turning the screws to screw with people’s heads.
Looks like a good spot to buy physical no matter what … they might not be Johnny on the spot here to start monetizing with abandon … but they cannot afford to let their digital world collapse or their dreams of domination go up in smoke … so when the liquidity problem hits stocks and bonds too … they will have to step in … and that time is not too far away.
Move slow and steady.
Mornin all
maddog
Well, I guess we’re in a much bigger correction as the Adens said then. $4650 was zero support. This is the only sector in the markets that does this stuff and the problem with these kind of collapses is that people sell and never touch it again. Why would they.
If we experienced normal corrections, we’d have a much more investible sector, but what out there goes up and then continually collapses? Nothing.
This is only an investment FOR a collapse of currency. That’s it. Although, I think we’re in luck this time. Trump’s brilliance will cause the collapse of the US and the dollar. I think Macron is right, we (the dollar) are going to be isolated, and then trashed.
To me, the picture is becoming more clear on at least how I think this all ends. By the time gold goes to the moon, it will still be worthless to us because we won’t have a country to spend it in.
I’m going to take a break guys, I don’t see any reason to watch and comment on this stuff anymore for a while. I’m not selling anything anyway, so what’s the point?
Watch for China to move on Taiwan, we are too stretched to defend them. Iran has shown that our aircraft carriers no longer rule the seas, because of missiles and drones and have been pulled back 1000 kilometers from the action. They’re surely not going to be able to defend the Taiwan strait.
Ipso
I noticed a lot of the miners had increased short interest since Feb especially closer to the end of February.
Adogbody
I’m guessing those who got caught up in FOMO buying for short term profit not looking down the road, even if they don’t need to sell it are going to sell it and may regret it later. Those caught up directly or indirectly in the wars is understandable. I’m hearing it not just oil tankers being blocked. All shipments are being blocked and some business owners, I don’t know how many are freaking out.
Ferret
I just called it as I see it. Another Smile in your face all the time they want to erase your race, uh I mean take your place. That would probably get me a room in the dungeon in London. It brings back memories when I was about 5 on my great aunt and uncles farm and they tied up the watch dog with a lot of slack but still had a lot of slack. I was singing to the dog from a distance something about ha ha you can’t catch me. If it wasn’t for the watchful eye if my uncle that probably wouldn t of went well.
Gold
Looks like some major entities with oil losses are needing to raise cash quickly.
Gold the first source of quick liquidity.
Dog
buygold
Typical C wave action …especially as we are in a 3 rd wave of the C,….nastiest of the lot.
Also Adens last report …last week….said Au must hold 4650 area, or we are in a bigger correction…….whenever they put out a number in Gold/Silver, the shorts go for it.
Though have to say..to see PM’s collapse, while the ME is on fire literally and Oil exploding, has to take the biscuit.
ferret
There is hope in the UK…fastest growing political party in UK, is Restore ..only 4 weeks old , already larger than Conservatives and backed by Musk
Buygold
The paper markets say that there’s no reason to own any kind of protection that the metals may offer. Beyond mind boggling for me. I’m going to turn my screens off for awhile!
Oil coming back in
SM futures barely down now. Dollar a smidge lower. Rates pretty much flat, only up 1 bip.
Everything is looking better except pm’s, which are looking worse, much worse.