My self evident statement is that if Dow Theory is valid Elliott wave is not. So Elliott wave is invalid but Sinclair has promoted EW gurus. So Sinclair is wrong to do so?
2008 Dec 28 The best part of this gift is not the one you already know, which is January 14th 2011, but rather the date that a new currency will replace the form of the US dollar as you know it today which is the third week of June 2012. - Jim Sinclair
Richard Russell promoted Dow Theory. Dow Theory depends on horizontal levels being significant. Elliott waves and Fibonacci systems rely on horizontal levels being insignificant. They are in direct conflict. Gold prompters including Sinclair have latched on to each and every system.
1979 "Sinclair became bearish but got out when prices hit $265 an ounce in late May.” – Newspaper article
1979 Jan 5 "Sinclair a recognized expert on the global gold market is warning his international clientele that he is bearish on the metal for the next 18 months and bullish beyond that time." - Newspaper article
1993 Apr 15 The Bear market in gold is absolutely over. - JS
2008 Dec 28 The best part of this gift is not the one you already know, which is January 14th 2011, but rather the date that a new currency will replace the form of the US dollar as you know it today which is the third week of June 2012.
2010 Feb 11 This Is The END - JS
2011 Apr 29 Formational breakouts are selectively happening in some precious metals shares. - JS
2011 Jul 15 Gold Milestone at $1,754 Paves Way to $12,000 - JS
2011 Sep 23 Market Violence Will Create Large Bear Trap - JS
2011 Sep 27 We now expect a bottom action to occur at or above today's low of $1535 - JS
2012 Apr 25 Shorts Now Trapped & Gold Could Gap Up to $3,000 - JS
2012 Apr 30 I told you my clone would arrive. - JS
2013 Jun 10 Get Out OF The System - JS
2013 Jun 14 I will sell anything I can, not gold, from cars to boats to houses to buy my favorite gold shares. You should do the same. - JS
2014 Jul 14 There is a strong possibility that this is the last take down before gold trades at new highs. I feel this is the situation. - JS
Recently on gold eagle market-manipulation-and-dark-secret-finally-revealed:
"The latest supporting “evidence” to which the manipulation theorists proudly hang their hat is the recent news about Deutsch Bank’s admission to “manipulation.” And, everyone assumes they have found the smoking gun which “caused” silver to drop by 70%, which proves they were not wrong to be bullish all the way down. Of course, they can now “prove” that everyone was cheated out of their money due to this “manipulated” decline of 70%. Makes sense, right?
Wrong. This was not the first case regarding market manipulation, nor will it likely be the last. But, what many do not point out is that the manipulation dealt with in these cases is not the “manipulation” to which all the analysts have been pointing to explain why silver lost 70% of its value when they did not see it coming.
Investors and Analysts Refuse to Take Responsibility
You see, the manipulation dealt with in these cases were attempts by these banks to move the market by a very small percentage in order to make a quick buck off a very small move which they attempted to control, often during low volume periods of market action. This is what is claimed within the actual legal complaints filed against these banks, which generally provide that the banks “manipulated the bid-ask spreads of silver market instruments throughout the trading day in order to enhance their profits at the expense of the class.” "
I think next significant phase of market action could be from staples. Basic commodities which despite the current talk of oversupply will eventually turn up and send bonds down. Reality will rear its ugly head imho.
Not me. In the end it doesn't matter. The charlatans know there is an endless supply of suckers to give them social proof, clicks and money. You can't talk sense to a believer. There is only one argument that changes peoples minds in the market and that is the price.
So it has nothing to do with the gold price being 1200 when it "should" be 3000 or 1400 or 10000 or whatever. Its not a price suppression scheme. Its a scalping scheme that washes out on a daily basis with no overall affect on the price of gold or silver. The reputation of all the gold gurus goes into the dumpster. Sorted.
Does anyone have the actual details of what the mechanics were? Maybe it is just setting the fix to run stops. That would not support the cultist, Sinclair, Murphy, Holter etc conspiracy theory. It would raise questions about their credibility. Maybe something else. Does it support the "price suppression" theory? As I see it, everything hinges on the details. The credibility of all the pundits is on the line. Agreed?
According to Martin Armstrong, "Of course, in London the banks have been fined for manipulating the closings to elect stops playing against their own clients. " Cant find the actual illegal activity in the news reports. Just the superficial and imprecise "manipulation". So if Martin is correct its not any influence on the overall price of gold at all. Guess there must be another shadowy group of power-lords controlling the price of gold.;)
You are suggesting, each day, always manipulated down, cumulative? Do the math 250 days a year for 8 years is 2000. 1 minus .001 is 0.999 Ok so 0.999 to the 2000 is 0.1352 And the inverse of that is 7.396 Times the lowest price of 1060 give us $7840 So thats what I expect the close to be last night or your theory is rubbish. Hmmm, rubbish.
No. The charlatans you refer to claim suppression of the price way below some much higher price related to true value. It was the “silver fix” that was manipulated. Reports indicated it has to do with bid/ask spreads. This occurred since January 2007. This manipulation is better described as rigging to skim and scalp. Not hold the price way below some fantasy value. So has the manipulation ended? So gold and silver are no longer manipulated? Where do the charlatans go to now? They need a second manipulation to blame. $1227 today, so I guess the conspiracy theorists were wrong about price manipulation.
Don't be surprised to see the plant and equipment on an episode of Storage Wars. Maybe Jimmy will be inside a suitcase on Baggage Battles.
The Fed and Japanese Central Bank want inflation or bust. Hard to see anything going down. They are funny guys.