Breakout is at 2.75. Target is lodged between 4.22 to 4.73 US$. This is the minimum measured objective. Or MMO's. Many times these MMO's exceed. However, on a conservative level, you will see the above numbers print. eom).
NY Spot Gold is up and rising. ABX has had a breakout and also above the 200SMA. This is it folks.
AUY was tracing an H+S reversal that failed. When they fail, they generally if not always make a Double
Bottom. IOW, a rectangle. That's exactly what happened. The same target price objective is still in place. This is lodged between $4.72 to around $5ish US$. In Canadian currency it's higher. The FED has cornered itself here. Forget about rate hikes, instead think QE5, 6, 7, 8, 9, 10. The B.O. point in AUY is around 2.59.
Thanx, muchas gracias, hvala, dankeshein. Yeah the stats are where its at. I have all chart data for almost everything. As far as sectors go, I know the gold sector pretty well. Go back a long time. The market has beaten the $XAU to a pulp. There's value here IMHO. That's using technicals and broad view of fundamentals. Here's what some do not understand.
Aside from the slide in this sector, the commodity sector if you will, currently this is also what's happening. A plain Jane mutual fund, ETF, etc. holds the miners in their portfolio. As redemptions occur, they affect INDIRECTLY the gold mining sector. The key here is the GOLD spot price. If it's rising it tells a tale. Buyers are taking in _physical. GOLD will never go ZERO. Paper, currencies have and will go to zero. This is a fact. I am not a gold bug. The FED has dug a hole so deep it's cornered itself. They will have to flood the floor of the exchange with massive amounts of paper. THEY WILL NOT RAISE INTEREST RATES. I would not be surprised if we get NEGATIVE rates. The bond market will implode if that happens. I'll stop here...
When does any exec get fired? For starters when shareholders vote their proxy for the annual meeting.
In the meantime call the company's investor relations. Ask to speak with the CFO. Then request to speak with the head of the BOD. Specifically the compensation chairman. Do it by paper. Call first to know where to direct your request. You will not do it on a forum, as here. Make sure you have all the i's dotted and T's crossed. IOW, the facts and nothing but the facts. I have fired a number of CEO;s and also forced a sale in a company . OK? Now get to work and let us know what's what.
Good luck, and Good trade....
Spot gold at $1103 up $15. NOWHERE to hide but gold. The miners will follow, the $XAU at historic lows. A major crash in the equity markets is JUST starting. The US$ will crash too. 1 step ata time.
You are onto to the correct conclusion re: the Dow. Here are the #'s. Lowest low in the $XAU was printed in October of 2000, @ 41.61. The $XAU rose from that low to 232.72 in December of 2010. Using the same data sets for the Dow cow, puts it around 9,900. Be that as it may, the $INDU has printed a large BROADENING Top pattern. That started in 1998-99 and can crash to about 5,651. It's a clear 5-wave pattern. The Dow Transports, $TRAN are in a full blown BEAR market. The Trannies always lead to the downside. Look up my thread here called, Nowhere To Hide. Physical gold is being bought.
U see it on the xau too. I think this is it. This is a long-term technical event. Let's see what happens next. I think this sector has value. Thanx for looking back. The crowd doesn't understand these types of thingies....
My bank pays 1/10th of an interest rate. 0.01
Major crash ahead in the paper markets. The DOW Pigs are gonna bleed big time. And the SP-500 lot too.
No place to hide except gold. As far as the $XAU goes the only drag will be FCX. The rest will do just fine. AUY is an $XAU component. We're gonna go thru the roof. The FED? Watch for QE 4.5,6,7,8, 9, 10.
Physical gold had a breakout yesterday. This AM it crossed over $1100/oz.
THERE'S NO PACE TO HIDE....except the AU. As I've predicted a few weeks back, a Major market crash is at hand. The SSEC plunged again, they had to close the market down. That NEVER works. In the 1929 crash they tried the same thing, closing the markets.
The Euro markets have made huge tops and are completing their bearish patterns. The US markets are in the same position. HUGE TOPS.
It'll get wild and wooly in the days and weeks ahead. And to add salt to injury, the FED is in the corner. What are they gonna do raise rates? They'll have to FLOOD the markets again with massive amounts of paper money. The printing presses will run 72hrs. a day.
Sitting on a cornflake, waitin' for the sun to rise...I am the Walrus. HOLD onto your shares, better days ahead...
The US $ is an abstraction. It has ZERO value. The dollar itself is nothing but a floating abstraction.
Gold is real. AUY at $20 is conservative. It's coming.....No place to hide.
I am the Walrus, I am the Eggman, I am the Walrus....
GOLD is the only place that has value.
On a technical basis look at the $XAU index. AT HISTORICAL LOWS. That IS value.
Good luck with your bio-techs, tellecraps, and all the rest of worthless paper trading. More coming..
It's coming. This is the most hated sector of all. Charts in this sector are major bottoms. You buy extremes and sell extremes. A top is extreme. A bottom is an extreme. The $XAU index is at an extreme bottom. Expect 100-300% moves from current values. Turn off the white noise. Look at the charts, it's all there.
Gold parted company with oil pricing today. Oil is a consumable commodity, like chewing gum, unlike gold.
Gold is real money, accepted in in every country as a way of payment of debt. The US$ is debt. Look at your $1,$5, $20, $100, or $1,000 bill it is DEBT. It's paper with a promise. The gold market is very small.
But you can take silver and gold anywhere in the world, in any country, and it is the real currency bar none. Nearly every currency over time has lost its entire value.
Again, the gold market is small compared to the "paper" equity markets. If you add all the gold miners everywhere in the world, it doesn't equal the market's value of say Amazon, Apple, IBM, or others. The cap value. Paper is a "promise". It has no intrisic value. The PPT will do anything to discourage a move to real money. The play in the $US is a folly. The US$ will collapse. Nixon "closed" the gold window. Ask yourself why? If gold was not worth anything why close the gold window? Why bother, right?
The FED has cornered itself with all the printing of paper and they have NO exit. Their main interest is to change the psychology of the market. The equity markets are at nosebleed levels. We are headed for a major crash. And the FED is in a corner. The only only asset that will be worth something is gold. They waited for that incredible % rate rise in late December, so as not to disrupt the X-mas selling season. Wait when 2016 rolls in.
In the 1930's Homestake Mining was paying monthly dividends. That was a deflationry depression. And that's where you are currently. This is why the FED did QE's, and endless printing of money. Look back in history, recent history, FED rates on short term 90 day T-Bills should be at 6%. And we are where?
Think therefore I am. Descartes.
Spot Gold is UP 6.40. The crash I predicted about a week ago in the "paper markets" has begun. Where can one hide in? Right here. It's about time that reality comes up for air. Paper anyone? The miners will go thru the roof. B patient. The clustphuk is overt!
Spot Gold is up $25. All of the 31 stocks in the $XAU are up. This is the Major turn in the PM complex.
B.O. level for AUY is around 2.70-2.75. ABX is breaking out as I write this.
There will be a Major crash in the "paper markets". The Plunge Protection Team, aka PPT, has no room to avoid it. The FED has cornered itself. They printed so much paper the US can wind up as a 3rd world country. Here's what someone else who thinks too...Quote:
In a recent interview, Dr. Paul Craig Roberts, former an Assistant Treasury Secretary in the Reagan administration and a Wall Street Journal columnist warned that the current economic system is “rigged” in favor of the big banks and that “It will definitely collapse; knowing exactly when, that’s the hard part.” He sees the potential for gold and silver prices to “explode.”
Roberts said there has been a “huge increase in the quantity of dollars as result of QE.” Normally if you print dollars, their value will fall. But Washington has the Europeans and Japanese print money, so the supply of all three increases, leading to no real change in the status of the dollar relative to other currencies. Most of the money stays in the banking system, not entering the economy, so we don’t get higher inflation. The dollar is stabilized, but how long can that go on?
In terms of the real economy, he said, there is “little of it left.” Most of the US manufacturing base has moved offshore, mostly to China, and now technology and information jobs are following suit. The erosion of middle-class jobs, Roberts said has “Dismantled the ladders of upward mobility.” With that erosion, income and wealth distribution is now worse in the US than in about half the Third World. It also destroyed the consumer economy, since consumer income can’t grow because “College graduates can’t find middle class jobs.” One indication of this erosion of the middle class is that 50% of 25-year-old Americans are living with their parents.
Roberts charged that the unemployment rate is rigged, because “it does not contain a single discouraged worker.” There are huge numbers of such workers and the labor participation rate has been declining for years
AUY is tracing out an H+S Reversal bottom. It has a lot of company. This stock will be the leader. Hold onto your shares. The ECB lowered rates below 0.00% today. A note. I posted earlier but Y-Hoo screwed up as usual. Anyway...PGM's will be going thru the roof. GL and GT.