I’m going to try and go easy – as I know many of the readers here are very much so invested in Gold. As well please keep in mind – I too believe in the long term story.
But with such macro forces at work – it absolutely pains me to envision you sitting there at home, considering every little tick up and down, gaps, bollinger bands, cycles, COT, and the most ridiculous of all – “selling on strength and buying on weakness numbers” – on “paper gold” through GLD!
It’s Ridiculous! Stop it! Stop it right now!
I’ve even heard some of you consider that Uncle Ben’s 85 billion dollars a month could in some way be “good” for gold prices?? Have you lost your mind? Seriously! It’s 100% completely the opposite!
Ask yourself this: Who on earth could believe the dollar’s exchange rate in relation to other currencies if the dollar was seen collapsing in value in relation to gold and silver?
This would completely defeat the money printing effort of the Fed – and completely undermine the bond buying!
The Fed is a private bank! with one goal and one goal only – to profit! They can’t possibly let the value of gold skyrocket if they intend to kill the U.S dollar! Think about it!
So……The Federal Reserve uses its dependent “wallstreet bank buddies” to short the precious metals markets. By selling naked shorts in the paper bullion market against the rising demand for physical possession, the Federal Reserve is then able to drive the price of gold down.
Bullion prices take a big hit, bullishness subsides and the flow of dollars into bullion is stopped….and the money printing can continue.
As long as the Fed continues to print ( and soon looks to print more ) I am at odds with any suggestion that gold will do anything more than trade flat at best.
In any case – bring it on then……I’m ready.
Hey Kong – here is a good read…. which puts things into perspective…..
Yes I’ve read it, but still don’t feel it truly addresses whats “really going on”.
Sure the charts are beat down, and I “love to buy the blood” but in this case, with such huge macro implications – I just can’t justify it til I see the move start …..even if it trades flat for another 6 months – I can’t have money sitting dead like that. Investors sure…..Gorillas no.
I’ve just re watched ” The Money Masters” and am again humbled by the power of “old money” and “big banks” – It gets more and more difficult to trust in anything considering what Central Bankers are realyy up to.
Hope youre doin great! I have been turned on to the Elliot wave, of which I know very little, but the patterns unfold like lovely compositions. And you know I have a soft spot for composition and lighting. I saw that massive (at the time, it looked massive compared to the others before it) red candle at 4:00 a.m. Eastern Time on the 15 minute chart. The whole pattern unfolded before my eyes — I was in GDX puts on Friday. Made some nice profits, but could have done better in timing and execution.
These days, in the aftermath of the NCAA March Madness, one of the few sports events I watch & enjoy, I have been doing self-coaching after trades. NOT trading in retrospect, not woudda coudda shoudda, but rather, I replay the game video (of the trade) in my mind, and I visualize myself making the right trade, at the right time, and selling at the right time, based on market signals, and celebrating the profits. The message my psyche receives, therefore, is not a longing, melancholy “shoudda done” this or that, but I actually live out the experience in my imagination. I train myself to make better moves.
Still a lot of this self-coaching to be done to get where I wanna be (I have a return flight to Centroamérica — not sure if I will take it next month), but my trades — and results — are improving.
Fantastic news Zkotpen!
Elliot is a great lil tool to keep in your pocket, and add to your weaponry – and the “continued self-analysis” is totally the way to go – and an absolute must!
Keep staring at it long enough – and the picture just keeps getting clearer and clearer. Great work!