How is President Trump doing? With a one being worst and a ten the best.
Total Voters: 36
Loading ...This is exactly like 2008-09’
Shares get absolutely crushed, now we’re even seeing the “liquidity” rush come in and sell GLD. I guess to meet margin calls.
Meanwhile physical gold around the world is flying of the shelves, but that doesn’t matter to a market that is controlled by paper and probably always will be.
The Fed will arrive shortly then we’ll see how pm’s react but $3K, much less $10K is pure fantasy in my lifetime.
https://finance.yahoo.com/quote/%5EHUI?ltr=1
Doncha love those gold huckster ads on Tee Vee…that gold is the way to protect your assets…this is beginning to look like 2008-9 all over again
Like some of us here, I occasionally read some comments on the “rogue” tenters site. My point for bringing this up is to comment on the way “they comment”. Comments go directly to a “comment” section on the post. Keeps everything in a neat little package and one does not have to scroll around to find the original post. Now it can have its drawbacks that people cannot see the “commentary by these posters” unless they click on the comments section but I think most will do so if the original posting inspired their curiosity. Just a thought that might be worthy of a vote or not. Question is can this be done by our guy who sets up our site. If so, I, for one, think it would be an improvement.
The last hour could see everything go -green–the DOW was down only 200 and the trannies were up 33 pts=that’s 540 pts off the days low…now the DOW is down 256-it was just down 380 a few minutes ago..when a steep sell off bottoms there’s lots of disbelief and yo-yo business before the indexes all turn up–
the 10 yr and 30 yr are red by 5 or 6 bps…tranniees down only 14…
The above is one sample of LEARN, UNLEARN, and RELEARN, why everything WAS the way it WAS. This is a very common sequence or long term procedure. Sooner or later, the world master planners will RELEARN why Gold and Silver were used as money.
ZERO inflation 1800 to 1934. No “wheel spinning”. No greed. No such thing as assholes with money like George Soros. You had to make cars or railroads, or steel mills, or oil wells. No such thing as Naked Shorting the British Pound, or buying Apple stock and getting rich.
Of Coronavirus saying not linked to travel. Theres Chinese here too as well as casinos they like to go to. People go to Casinos just for the Buffet. Stores, shopping or anywhere. Someone could have been infected by casual contact.
I saw a video think it was NY China air was supposed to be closed but wasn’t. That what they were doing is going to Europe then lying about where they came from coming to the US. Probably how the outbreak got started in Europe.
Could even be bad Americans having them MADE there and importing them for resale.
Not all gold coins weigh the same, even if they contain the same gold content, so it’s important to know in advance how much an authentic gold coin should weigh. One ounce 24k gold coins, such as Canadian gold maple leaf coins, should weigh 31.1 grams. 22k gold coins, such as American gold eagles and South African gold krugerrands, weigh 33.93 grams. $20 Liberty Head and St. Gaudens gold coins weigh 33.43 grams.
However, if the same metal used to produce the authentic gold coin isn’t used in the production of the counterfeit coin, then the diameter and/or thickness of the coin is unlikely to match the specifications of the authentic coin.
https://coinweek.com/counterfeits/avoid-becoming-victim-fake-gold-coin/
When will FAKE end. Fake news, fake jobs, fake boobs, fake wooden fences,
The scum have lost the plot, they have lived so long with gaming the No’s and triggering the Algo’s etc, …they have no idea how to deal with non stop v bad news.
At some point someone important will ask why, Gold is trading like this.
All they can do is print, drop rates and kill PM’s …..but that won’t help here…..the mkt Gods have got them cornered, with no way out…..
WASHINGTON — In a move aimed at boosting the sale of U.S. firearms and ammunition abroad, the Trump administration has eased regulations on some commercial firearms exports.
https://www.cnbc.com/2020/01/23/gun-exports-get-easier-due-to-trump-administration-rule-change.html
Yeah, they’re going to take gold negative here, they already have taken silver out. That’s why they’ve trashed the shares so much this am. Classic scum.
10 Yr. @ 1.25% – Unbelievable
Gold just had a v nice break out on the Hourly chart….and just got crushed, by the scum, as they rammed the SM back up and Bonds.
It get’s worse……this will not end well…..but will there be any mkts left….that i doubt, as the scum are out of any control.
seems PM shares could be weak due to fears the virus will get into a mine and shut it down….which could easily happen…but then the price of the metal will sky rocket, offsetting the shutdown….
No the shares are looking at the way the scum are sitting on the metal and realise prices are going no where.
Ya you are right. It might not go down that much (10%? 20%?) and then when stocks do find a bottom look out to the upside. And PM stocks would outperform. Only thing is, in both 2000 and 2008 it took 6 months from when stocks topped for PM shares to find a bottom. And today investors have less cash than back then. Can’t count on our bankers / fund managers to buy PM stocks with their printed money, so aside for bullion, one could still be cautious for a few months (who knows?).
I intend to start chipping away at the stocks again if we get a good crash next week.
That’s all I know for now cuz if stocks bounce they could trash PM’s again with the bubbles in Comex gold and silver.
Who knows at this point?
Need to watch things closely now and roll with the punches.
Cheers
“I would think if the DOW has another 1K pt. down day today, the Fed may start to panic.”
If you look at the Dow chart I imagine they probably are already panicking! I don’t think we’ll see any tightening for about a 100 years!
out for a bit
Well, in 2009 gold went down with the SM. We’re not seeing that, at least yet anyway.
What’s frustrating here is that when the SM ticks back up a little, gold ticks down, but the shares don’t tick up with the SM. That smells like classic scum action.
I would think if the DOW has another 1K pt. down day today, the Fed may start to panic.
The dinero coming out of the SM has to go somewhere. Maybe some of it will find it’s way into our sector? I dunno. ( “I dunno” should be my motto. If I had a shield I’d print it on the front … and on the back in case I forgot.)
SM investors I know say they are not going to stick around a la 2008-09.
Hook has been making the liquidity argument, ala 2009. the problem I have with that argument is that back then the HUI was at much higher levels. Now the sector is so tiny, just how much liquidity are they going to squeeze out vs. tech or something else in the market. Lastly, the biggest source of liquidity would be found in GLD, yet GLD continues higher.
So far I guess the liquidity argument is correct? My sense is it may have a lot to do with what’s going on in silver as well.
Ten Yr. down to 1.27%
Hope you’re right Rich. Us PM investors deserve a break!
Thanks for all the CLX data. I know you’ll be selling puts down here like crazy.
I note that the 5 day cumulative TRIN finally went over 6 yesterday.
The up move is coming !
US rejected key talks on extending soon-to-expire treaty that limits strategic nuclear arms – Russia
his indicators even if his tape readers intuition tells him not to…I might just have to pick up some gold coverage today…JMO–DYOD….seriously folks…take my wife….actually my indicator has a spotty record but I have seen shares up following the divergence we see as i write…
Perhaps the SM debacle is finally spilling over?
ya can’t see it on the chart but he has the 5th wave ending between 26,100 and 26.400–which is where we are as I writ
Don’t know if we will see it or not, but the 200 day SMA on the ES is 3024.23. This would roughly coincide with the July 2019 highs which preceded the August sell-off and the Sept 2019 highs which preceded the October sell-off.
We are currently at the 3064 to the 3067 area which happens to be the 9 month SMA and a monthly fib support on the S&P cash. Everything is moving slow motion so it is somewhat difficult to gauge. There has been little enthusiasm in any of the mild rally attempts on the way down here since last night’s scorcher off the 3091 level. . Buyers seem to have thrown in the towel for now.
On the RTY there is a convergence of several different types of Pivot supports between 1511 and 1515. If this minor 1525 support falls, I will take another shot at 1515 area
There are several support areas all bunched together down here on both the S&P and the RTY.
I usually do not hand out these numbers but I know many people are very nervous right now, so there is hope on the near term horizon, or so it appears. As always, any new positions should be stop protected especially once you get a little distance between your entry point and the market. . NEVER let a profit turn into a loss.
Cheif is also getting more positive on things in here, so check him out on Alexa for the final word.
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YM1! (DOW) Count Update. Here’s a wave count for this nasty decline. I think its in the final leg. Breeze…[ya can’t see it on the charts but he has the 5th wave ending between 26,100 and 26.400–which is where we are as I write]