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Been in Orlando the last couple of days and I must say that it is wonderful to be in humid 80 degree weather and away from the cold and dumping snow.
I see were having an energetic discussion about Armstrong and his prognostications…
If I could weigh in? Is there really anyone who has consistently been able to call the direction of pm’s over the years? I haven’t seen anyone I could use as a guru who has gotten it right time after time.
Certainly hope we don’t head back toward sub $1K, although I would have thought we’d be approaching $2K by now. It does seem that the USD strength has some influence, but that is not consistently reliable either.
Anyhoo, things seem to be much better so far this year, hopefully this is year one of a long, new bull.
PRECIOUS-Gold near 3-mth highs on political, economic uncertainty
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“It is likely that at least some gold buying is the result of uncertainty over U.S. policy, but also investor reaction to the possibility that the far-right, eurosceptic candidate in the French presidential election this year, Marine Le Pen, is gaining momentum in the polls.”
Investors are concerned that the far right could win France’s presidential vote and take it out of the European Union.
Holdings of SPDR Gold Trust , the world’s largest gold-backed exchange-traded fund, climbed 1.01 percent to 826.95 tonnes on Tuesday from Monday. Holdings rose for a fifth straight session.
The rise in holdings, along with recent data from U.S. Commodity Futures Trading Commission (CFTC), show an increase in long positions for managed money and a decrease in short holders, MKS PAMP Group trader Alex Thorndike said.”
“Investors have been piling into gold and gold mining stocks over the past month amid escalating political risks linked to both the protectionist stance of President Donald Trump’s new administration and the myriad election risks developing in the European Union.”
And he changes his mind all the time in trades and I think it’s a waste of time and eventually you just get ground up into little bits. pulverized. So go ahead and chase trains, but just realize that eventually you’re gonna get you legs cut off at best, or financially railroaded to zero
Armstrong is no dummy with TA and very keen on economics.
Personally I WONDER if he’s a closet GB. Then think he’s working for the Boyzzz.
The reason I think that is because he strongly feels that the final high will be dependent on the low or ideal low. Lol He’s just gotta see that ideal low to push gold to the higher high.
He’s been right on with sectors like DOW but seems to jump around with the PMs.
Joe is just posting his blogs but I can see why people can react with because MA bearish doom for gold seem to come out every time the Bulls have it. It distorts people focus.
As you can see with my last post MA said we’ll see highs in 2017 but now he’s saying we’ll see lows.
He has done that more than once like saying a high in 2015 then a low, then a high in 2017 then a low he doesn’t know any more than the current trend and economic atmosphere. So then I think does he want it to move into bearish TA? Other sectors seem to be a little more predictable. I can see why people can wonder if he’s trying to push it down by attacking or discouraging GBs. Id like to think the aforementioned that he’s so bent on his ideal low he will ignore all cues it’s not going the way he planned. But then that’s not even making sense anymore because why would he be bullish at first then switch to bearish? I think I remember reading he said 2018 gold would be taken down.
Well.. What we have to watch beside current state of affairs is the Fed dragging its feet the first half of the year while gold creeping up then may pounce as Trump starts putting people to work on the wall and infrastructure plus other companies coming in with May give the Feds ammo to raise rates. Top analysts are predicting the will start raising rates mid year then every quarter in 2018. With things like that MA can switch from bull to bear. That would be dependent on what reaction it would cause on PMS or even if the predictions are right.
MA has confused GBs with switching his highs and lows. He has scrubed things Hes said. I remember hearing him say a gold high for 2015 on a audio with King World News.
Here’s another example.
Scroll down to As Armstrong Cycles stated.
Switching into a long-term perspective gold is poised for its final high on this run in the year 2032. New highs should also be seen in 2017 and 2020 against the US$ from cycle lows in 2015. Panic Cycle Models suggest that higher volatility is due the year of 2017. https://www.indigopreciousmetals.com/news/gold-cycles-armstrong-august-2015/
India is moving now to confiscate gold after going after the cash. Currently, each married woman is entitled to 500 grams, each unmarried woman 250 grams, and each man 100 grams of gold. Everything that goes beyond is classified as illegal possession and thus will be confiscated.There is no restriction on the possession of the jewelry only if the jewelry was purchased by inheritance. Prime Minister Narendra Modi is giving more power to tax authorities rather than dealing with corruption. They will be shaking people down for money. Unlike FDR who confiscated gold from the banks, Modi is allowing the tax people to go door to door.
This is the problem I have been warning about with gold. It is losing it safe haven status for it is getting to the point you cannot travel with it, keep it in a safe deposit box, or show gold with jewelry. In Italy, if it looks like you have excessive jewelry, they pull you over and weigh it at the border.
This is all part of the Hunt for Taxes. India is setting the tone. The danger will be if others follow. Trump would stand in the way of such policies in the United States. But in Europe, we may see the same policies take effect to different degrees. All they need do is claim that terrorists are using gold to fund their operations.
Everything is still on target for the move under $1,000 into next year.
Well, I was right on thinking that Farmboy the Frog might kiss a princess someday…whoops, got that one upside down too. Opinions, theories, whattifs, take what you want but don’t shoot the messenger.
There are way bigger phonies to shoot than MA. If you can prove he is part of this mess, shoot him too.
Sixpack is not reporting facts! I am and I am flat out stating that MA deleted/scrubed his original negative gold blog dated 12/09/16. Clear enough. I don’t give a flat out damn what his or MA’s predictions are for $Gold. I have my own, right or wrong. Even in this age, people make predictions, then over time are proven very wrong, ….they should at least acknowledge their mistakes. Is that now too much to ask?
I really have no choice but, to call you out as a BS artist. The MA blog was scrubbed/deleted. My notes on this hopefully will be found. In the meantime I found my post dated 1/14/2016 on this very site. Search under Armstrong. Those are direct quotes that were deleted by MA and they were never challenged by you at that time. For whatever reason you are pumping and schilling for Armstrong. I truly have no dog in this fight but the truth. I don’t know what exactly is your game Joe but, it is becoming obvious that your pumped Guru is not to be trusted.
I have no idea what you are babbling about Armstrong “changing” his post just to deceive one lone village idiot on the Internet that isn’t paying attention. You can view the page exactly as it was captured on Dec 10, 2016 by the Way Back machine. Just put the URL in question here: https://archive.org/web/
And you will see that post never ever changed. He says “Everything is still on target for the move under $1,000 into next year. ”
99.999% of his subscribers and all my investing friends read that as gold will drop sub-$1k sometime in 2017. YOU interpret that to mean Armstrong is saying gold will drop to sub-$1k in the remaining 19 trading days of 2016. YOU are incorrect.
I could see someone who is not paying attention to Armstrong could make that mistake. But for you to come out and say he’s completely 100% wrong when you are obviously wrong and now claiming he changed his post makes you look like a fool when its clear from the way back machine that the webpage is the same today as it was seen on Dec 10th, 2016.
Well, well, well> I didn’t find my notes yet but, I did find my post dated 1/14/17 0n this very site. Quoting MA 12/09/16: ” Everything is on target for a move under $1000 INTO next year.” Why is that direct quote now missing?? Why did Armstrong scrub his original public blog rather then apologize for his mistake? He not only blew the call but, then went back so as to delete the evidence. Pure and simple there Joe, …Sorry to break into your Guru bubble
Hey Joe. Do you understand that the MA 12/09/16 blog that you just posted has been scrubbed?? I have it written down…just have to find it. I also posted on this site his quotes line by line a bit of a later date. Instead of apologizing MA erased on his public site: Where in your post is the mention of gold going down into the “Abyss”?? See what I mean?? Instead of apologizing MA scrubbed his public blog so as to erase his mistake. I used to say about MA “Not the sign of an honest man” Now I know it in spades!!
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