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so he says besides being technically overbought, we could be in for a scum beat down.

The charts are telling him we need to hold $1385 (IMO, that’s not much of a beat down).

If we can survive all that, then it should be smooth sailing to $1500…..well, alrighty then

“Somebody” Finally Cares About Gold

…and now that $1,400/oz has been breached, there’s plenty of room to run…

At some point the overbought/oversold–too many bulls games. can get suspended as they did when, in 2000,THE ENTIRE

NASDAQ had all the listed stocks at an average p.e.  of 250

what did the RSI look like then?…in a mania ya can wipe your rear end with RSI stats…

That said…let’s hope gold doesn’t gap open down tonight an ole 20 or 30 bucks…

we did see yields bounce a bit Friday on the ten yr. off the 2.00% level, so he definitely could be right about a short term run up to 2.2 or 2.3%

I personally think we are going to see lower rates and a lower dollar over the longer term, because we have to, if nothing else just to manage the ever increasing debt.

Not sure about all the recession talk because I live in an area that has 1% unemployment and we can’t get people but I don’t know how things look around the rest of the country.

As usual, WTFDIK??

expiration date on it….yes, timing, show me the guru who can tell me WHEN and I will lay jewels at his feet and kiss the hem of his garment..I definitely think he is early…but a bounce in yields from a severely o.s. condition may have already started…then down again.

Portugeezer – Thanks for that. I did bookmark the article. It’s simply amazing to me the depths of evil people will go to- especially in governments- to achieve whatever outcome they desire. Stunning actually.

R6 – if Wolanchuk is right about rates rising that would truly be a shocker to the markets. I have a hard time seeing commodities in rally mode with rising rates unless the dollar were to continue to weaken.

It’s all Greek to me at the moment though, and Wolanchuk called this move in gold so, can’t really doubt him….