Loading ...Ororeef–Buygold–when I look at the 73 RSI on GDX-and all the others- and all the big gaps up
it sure seems a stretch that gold is just gonna pause for a day or 2 and just keep going up…
Tell me why?
Perhaps this is not an apt comparison…but how did the grains in 1973…like soybeans rise steadily for months on end from $3.00 to $12.90…how do stocks like Priceline go from $2 in 2000 to $2400…or Amazon go from $8 in 2000 to $1800…without analysts ranting about their high RSIs and investors selling them each and every time to retrace 100% of their latest gain?
Doesn’t there reach a recognition time–when the bull finally manifests–that the RSI–overbought/oversold game suspends…and a stock or commodity just keeps going up with minor pullbacks like stocks did in the 1990s?
I subscribed to Investors Intelligence in the 1990s…that servic basically FAILED back then becuase it had a consistantly high bullish percentage of advisors…and contrary theory was rendered ineffective…I think there has built up–for good reason–a deeply imbedded negative bias towards PMs…even among gold devotees…only gold seems to shriek “eek” a 65-0 RSI-!!… and go into a grand mal seizure every time…
Ororeef – I used to travel through HK frequently before retiring
And was always amazed by the ability of the people to get things done rapidly and effectively . At the time , ( under British jurisdiction ) it was a model of business acumen and efficiency .
This is very sad news for me .
Richard640 @ 10:34 on June 9, 2019
Gold could rally tomorrow,based on news from HKong..!
China has broken the Agreement with Briton on HONG KONG AUTONOMY
disenters are being extradited to mainland for trial !THIS IS A BIG DEAL !..ITS IN THE NEWS NOW ..Money is fleeing HK ,Real Estate will collapse in HK.
Fleeing money ? would you buy Gold outside of HK with your HKDOLLARS ?
Buy Bonds ? buy US DOLLARS or all the above ?
The CATS out of the BAG HK is 25-30 % of Chinas Financial money center any loss of confidence will have mass consequences including a run on HSBC Bank maybe ! A Bang up in Gold is a possibility with new demand for USDOLLARS and Bonds .Swaps out of HK DOLLAR into US DOLLAR will be massive internally in HK..
Riots in Hong Kong now because of arrests of dissidents being extradicted to mainland for trial..in the news now…a CLEAR violation of the agreement with the British !
Samb
Great story!
Kyle Bass ..trouble brewing in HongKong
Kyle Bass HongKong https://youtu.be/ZBl05xNq_AU
trouble for the Hong kong Dollar and HSBC Bank ..money fleeing!
R6
Tks for providing the definition of “concatenation”
Definitely would have had to look that one up.
For as much razzing as I give you as “Buddha” I really do hope you nail an up move. I know there are a few of us hoping the same.
Such a difficult thing to do with pm’s
Buygold= The “Fount of All Knowledge” aka the enigmatically smiling, smug. squatting Buddha replies:
I couldn’t agree more…gold will be merely a plaything of the FED and the banksters until the necessary concatenation** of events breaks their domination…one event could be a sustained fall in the dollar…another even could be that German household deity, Goethe’s stainless steel bust falling off the mantlepiece…etc etc
**concatenation=
a series of interconnected things or events.
*************************************
n formal language theory and computer programming, string concatenation is the operation of joining character strings end-to-end. For example, the concatenation of “snow” and “ball” is “snowball”. In some but not all formalisations of concatenation theory, also called string theory, string concatenation is a primitive notion.
R640
The Fed, their bankster minions, endless money printing and the Crimex always have the final say on what pm’s will do.
The SM of course is subject to all the same things, only in the opposite direction.
I’m not seeing the economic weakness to justify rate cuts, but that’s because I have a micro view. Idaho has a 2.9% unemployment rate and my area is probably around 1%. We can’t get good people and will seek to poach people from out of state as our company growth is exploding.
I guess we’ll know a lot more oh mighty Buddha! 🙂
Samb @ 0:20 You should write a book!
That story was perfectly composed and presented. Thanks for sharing it. Maybe you have talents you don’t know you have?? I’ve had similar harrowing experiences with both people and animals that are locked into my mind but do not have the writing talent to present them. All the Best from Silverngold!
THE STOCK MKT had a spectacular week BEFORE Trump said “no tariffs” on Mexico
–stocks rose causa the FED flip-flop indicated 2 to 4 rate cuts this year…the trade war with China and Europe and many other macro problems still remains in place…as do the other 137 reasons to own gold–probably the foremost of which is the vast amount of zero bound interest rate debt around the world….and the prospect that the U.S is heading in that direction…so stocks to da moon and gold sent down once again to multi-year lows is not necessarily a done deal.
Wow Samb
But for the grace of God..
Imagine the guilt you would have carried had you taken the shot.
Glad you’re feeling better and have some freedom and back to the business of posting. 🙂
Buygold @ 18;45
Yesterday, was the first day that I could drive my car even on local roads. What a pleasure after nearly a year of being held hostage. A feeling of freedom came back into my soul ….it’s probably a good thing that I gave up all guns and weapons years ago. What I went thru was so miserable to me that I might have just ended it then and there. We had an agreement, my very best friend and I. We were in prime bear hunting territory and I had spotted the tracks in a muddy area. He was to hunt facing my opposite direction…both of us were to hunt in opposite directions.. All alone and with hours ticking away I spotted movement in the brush… silence all around me but, for sure I spotted this elusive bear, finally. Just keep your cool Sam, safety off now, sights raised and ready for victory. Saw him again but, just barely. Heat of the mid day getting to me now, heart beating but, my prize from patience and days of stalking was finally at hand. Must have been an Angel that restrained me at that moment and I still thank my Creator, over and over. I damn near killed my best friend. He stepped out of the brush, no vest or orange cap… just that mop of black hair. Well I let him have it but, then said nothing more to any of our party. Got back home and ditched it all…guns, ammo, cleaning kits forever. Whoever you are, Angel, I thank you and still am grateful … owe you a debt forever on!
Buygold
I’m not sure either but it’s a change. Their typical move in the last years is 200 or 100 up from the lows then a smack down.
Did you see all the GOPs including fake patriot Cruz whining about the tarrifs with Mexico over the border they didn’t do anything about when they had the chance. That was a smart move, money talks, especially to Mexico. But then we got Biden telling China to just wait till the elections he’ll give them a better deal after they were ready to sign. He’ll get ” him” a deal alright.
Captain H–I think you and Ballinger have the most valid fix on the gold market
and I am going with you two…until I see your scenarios violated…only them will I know something has changed
You go Buddah
I’m pretty sure we’re all with ya!
Not sure we all think you’re gonna be right but hey, I’m pulling for ya!
China is susceptible to collapse–they got big time bank rescue problems–it’s all outlined in the Credit Bubble Bulletin
June 5 – Financial Times (Don Weinland and Archie Zhang): “A $647bn blind spot in financial reporting by China’s city and rural commercial banks is fuelling investor concerns that more of the country’s lenders face government intervention or collapse in the wake of the state takeover of Baoshang Bank. Baoshang was one of 19 banks with a combined Rmb4.47tn ($647bn) in assets that have yet to publish 2018 financial results, according to… Barclays. The delays are a potential sign of a build-up in non-performing loans and leave investors blind to how many of those assets may have turned into bad debt, as was the case with Baoshang, analysts said.”
http://creditbubblebulletin.blogspot.com/2019/06/weekly-commentary-horde-of-jumbo.html
Options-shmapshuns–charts-shmarts-fugget. about it=Gold’s time is here-it’s inevitable-read em and weep:
And if there is any doubt that market prices have completely detached from underlying fundamentals, look no further than Italy. Italian 10-year yields collapsed 31 bps this week to 2.36%. Spectacular panic buying across global bond markets.
Powell, Draghi, Kuroda and the like fully appreciate that a decade of ultra-loose monetary policies has fueled dangerous Bubbles. But they’ve thrown in the towel; a fight they are afraid to confront. The Fed has not only abandoned “normalization,” it has deserted its primary responsibility for safeguarding financial stability. We’re witnessing nothing short of a historic failure in the Bernanke inflationary policy doctrine, today masked by precarious Speculative Dynamics throughout the risk markets and a historic melt-up in global sovereign bond prices.
History has never experienced such powerful financial Bubbles on a globalized basis. The scope of international trend-following and performance-chasing finance is unprecedented (many tens of Trillions). And with these Bubbles at risk of bursting, central bankers are resolved to employ “whatever it takes” monetary stimulus to hold dislocation at bay. The upshot is only further emboldened market participants, more intense speculation, a greater accumulation of speculative leverage and even more precarious “Terminal Phase” Bubble excess.
ZERO BOUND INTEREST RATES=Swiss 10-year yields down three bps to negative 0.52%
Ten-year Treasury yields declined four bps this week to 2.08%. German bund yields dropped another six bps this week to a record low negative 0.26%, with Swiss 10-year yields down three bps to negative 0.52%. Japanese JGB yields declined three bps to negative 0.12%. Some of the more spectacular yield moves have unfolded away from the typical safe havens. Spanish 10-year yields dropped 16 bps this week to a record low 0.55%, and Portuguese yields sank 19 bps to an all-time low 0.62%. Greek yields fell eight bps to 2.81%.
http://creditbubblebulletin.blogspot.com/2019/06/weekly-commentary-horde-of-jumbo.html
Buygold
No need to see the lunacy at work…look what happened yesterday with an extremely bullish Employment Report.
JNUG, NUGT, PM shares were down.
Why do you think that happened?
10 years ago when the ETF gambling was not so pervasive PM shares would have been through the roof.
Samb – when we have an up cycle I’m just like everybody else — everything is crossed it keeps going.
That said — I have a memory (i can remember the last decade as I chronicled much of it) — and I refuse to live in an eight-year old’s bubble mentality.
I just wish we had more adults in the room all the way up and down the line.
Cheers
Hi Samb
Good to see you posting again!
Been a long time since we’ve seen you around these parts.
I guess all I can say is that I don’t know anything and haven’t for years. Just know it hasn’t been good, and I don’t know shite other than charts have been relatively useless when trying to predict upside action, but they’ve been great at predicting downside, as have the ridiculous COT’s.
Hope all is well with you!