Going forward this week ISM manufacturing forecast will not be good and then you throw in a drop in Friday's non-farm payroll numbers and Nugt could be screaming to $200 a share, Gold should do very, very well going forward.
Agree and I think manufacturing data will come in weak this week pushing the dollar lower and ramping gold higher. KGC should clear $6 at market open and possibly close around $6.25. All arrows point higher as we march towards ugly non-payroll number Friday.
Well this should be good for a $20 jump in Gold come Monday if not more. Also wonder how oil reacts?
Hundreds of supporters of Shi'ite Muslim cleric Moqtada al-Sadr stormed into Baghdad's Green Zone and broke into the Iraqi parliament building. The protesters, who had gathered outside the heavily fortified district, known as the Green Zone, crossed a bridge over the Tigris River chanting: 'The cowards ran away!' in apparent reference to departing lawmakers before breaking into the parliament building.The staggering scenes came after Sadr denounced Iraq's politicians' for their failure to reform a political quota system blamed for rampant corruption.
Yellen won't raise rates this year because the porridge is too "cold" As in coming Recession Cold. Opec now flowing world markets with more oil as Saudi Arabia and Russia try to gain more oil market share. Its going to get ugly for Oil Bulls. Lastly, China more interested in starting "WAR" in China Sea then printing phony economic numbers to fool the common man. China Bubble will burst this year if not early Summer as everyone knows China is a 'smoke and mirrors" country.
Falling now as everyone "sells their long" position" and gets ready for WHIPLASH.
so if your smart you will leave Spy and go long KGC, ABX, GDX, GLD. With the "FED" now out of the picture, the dollar weakening daily and world turmoil spiking - Gold is set to rocket to new highs. Back to $1500 an ounce before you knew what hit you and then we move higher.
since Yellen might not raise rates this year as the U.S. economy starts to falter and recession worries kick in. GDX sure looks like an easy double to me this year - if not more.
and says "no rate hike coming as far as the eye can see". Yellen becoming more of a Super Dove day by day as the Dollar weakens and gold scream higher.
Isn't it nice to have the Fed by your side with the "Perfect Storm" approaching,
and so the sell off begins and "sell in May and go away kicks in" while Presidential election gets really, really ugly just as Yellen says "The Fed "F" Up".
Because May is almost here and after that Yellen smacks investors with a "nice rate hike". Who want to "short" Tvix with May/Fed in front of you? NOT ME
heated rumors increas that Russia and Saudi Arabia will get into a full Blown Oil Production war to see who blinks first. Don't be caught long here as the Big Boys ramp up oil production in an attempt to wipe each other out.
as in Russia turning oil valves completely open to beat Saudi Arabia in the Oil (increase) production game?
and come market open in a few hours the Bull will shed a few pounds of flesh as the market sells off AGAIN. This time though the Bull will feel the pain as investors start to flea knowing the month of May will not be good for stocks nor Spy in particular.
OK - then he is some where else 'shorting" the market and smiling over all the "ghost money" he is making.
cause he knows the stock market is heading for the "perfect storm" of a market correction. Time to sell that little red corvette while its still worth a buck or two. Come May it might be worth half as much or be auctioned off in Mexico.
so $4.25 at close tomorrow or is that too conservative???