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Goldcorp Inc. Message Board

  • tobinator00 tobinator00 May 11, 2005 9:38 AM Flag

    Gold to get hit? Part II

    What do you know? The trade deficit did come in much lower than expected. I swear if I traded currencies or gold, I'd just watch the HUI. This is the third time in a month the HUI is dived down on a gold up day prior to gold negative news. Either gold share traders are that savy, OR, they already know the information in advance. I believe it to be the latter because no one can be as lucky as these guys have in the almost two years I have been in this sector.

    The Gold Cartel must be pretty disappointed gold is only down $1 as of this writing. Part II of this attack may begin in the next 40 minutes. We can't have gold only flinch to such a flogging of the Euro. We have to watch the HUI closely. If the HUI drops 3-4 points, then my guess is the Cartel will wait until London's PM fix (occurs in about 1/2 hour). Once the gold price has fixed in London, then the Euro will get creamed again to boost the USDX over 85. In concert with this, they will push really hard on gold since physical players won't be there to support the price (as they are this morning).

    The second scenario is the Cartel figures its lost its ammo and time to signal retreat. If this occurs, the HUI will only be down slightly and recover throughout the day. Keep in mind Retail figures come out tomorrow. So, the Cartel could weigh down the gold stocks all day in hopes to put further pressure on gold to break the long term support trend. We will see what the retail figures are going to be like in the last hour of gold stock trading.

    All of this IMHO.

    Last nights post:


    It looks like the Cartel has shown its hand once again. Take the shares down to soften the beaches. Push gold down in the access markets so before the trade deficit number comes out tomorrow, it will be down $2-$3. The trade number comes out lower than expected and gold gets hit for $6-$8 breaking the 200 dma support. Consequently, the shares get hit and close around a HUI of 176 after testing the 175.5 level. It would be a real coupe for them to push the USDX above 85 and break the long term gold support all in one day.

    Being long myself, I hope I am totally wrong but I have observed this pattern far too many times. Isn't it interesting the gold share shorts did not cover at the end of the day when a potentially very gold bullish number could come out tomorrow?

    Lets just hope it is broader market weakness that the HUI (& GG) was following today and not the above scenario.

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    • As I've been saying...the fed priests would not be telling people to focus on the gold price as a barometer if they were not supremely confident in the money mafia's ability to manipulate the pm markets...

      but they are not being as good at it as they used to be...and they are having less success holding it down...

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