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Charts from the Lunatic Fringe.

louky

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It's February, mmmmhm. Handle pullback target would be 1269-78 possibly
Wow, 1269 bottom of the box.

Post from jan 29th.Peaked in feb. i usually start preparing for the other direction before everyone else.

1359 in focus for now, but below that it's no man's land all the way down to 1305.
 

louky

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my orginal thesis was summer july low (came two weeks late august) with may 19 being a significant top. So it could take a while to play out.
This should test 2016 highs again, if I was correct.
Based off my long term work, from sept 2016.

Moon box is 1359, 1368, 1377, 1386, 1395

We checked off 1359 in 2017

1368 top in 2018

Running into june 2019 already now, but again, 1377-86 should of been on the table from july 2018 bottom to may 2019 (thereabouts-before summer)
 
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Goldhedge

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Zed

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Zed

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Bullish writings are bearish.
Yes... until they aren't.

Big short positions are bad until they become rocket fuel.

... so we patiently watch with the low expectations and the unfathomable patience of a jaded gold bull.
 
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savvydon

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Asian Sunday night metals beat down in progress. Gold back down below 1330. Hope this is the quick and efficient wash out before the next leg up which has been discussed as a best case scenario.
 
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Someone showed this interesting chart. Can mean two things, Europe and the Global econ has to play catch up or we are overvalued by market standards. Gold is down 11 as to speak, not too shabby, fortunately it held up nicely after crossing off Mexico from that tariffs list.
 

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Zed

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Asian Sunday night metals beat down in progress. Gold back down below 1330. Hope this is the quick and efficient wash out before the next leg up which has been discussed as a best case scenario.
This is a significant break so it will be hard fought.
 

savvydon

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This is a significant break so it will be hard fought.
It has the feel of a big bank attack. Seems silver is always used as leverage for these smack downs. This has been going on for quite some time now and is how we got to a silver to gold ratio of 90. This is an early/aggressive move for sure. It will be interesting to see if there is an answer. I guess the big banks figure the way to stop a short squeeze is to throw more shorts at it. Maybe the thought is that with the resolution of the Mexican tariff thing the dollar will take off and give the bank some momentum to bury gold. I would love to see some miscalculation/black swan event catch the bass turds flat footed and see the rocket lit with the short fuel they have so graciously supplied.
 

SilverBuyer

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It has the feel of a big bank attack. Seems silver is always used as leverage for these smack downs. This has been going on for quite some time now and is how we got to a silver to gold ratio of 90. This is an early/aggressive move for sure. It will be interesting to see if there is an answer. I guess the big banks figure the way to stop a short squeeze is to throw more shorts at it. Maybe the thought is that with the resolution of the Mexican tariff thing the dollar will take off and give the bank some momentum to bury gold. I would love to see some miscalculation/black swan event catch the bass turds flat footed and see the rocket lit with the short fuel they have so graciously supplied.
I really think there is an agreement between big banks and big players to not "horde" silver. Imagine what the price of silver would be if it was being stockpiled? Discounting industrial use there's something like 120 billion dollars worth of gold that needs to be absorbed by investors every year but only about 4 billion worth of silver. If that agreement ever disintegrates we will see the price of silver skyrocket.
 

savvydon

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I really think there is an agreement between big banks and big players to not "horde" silver. Imagine what the price of silver would be if it was being stockpiled? Discounting industrial use there's something like 120 billion dollars worth of gold that needs to be absorbed by investors every year but only about 4 billion worth of silver. If that agreement ever disintegrates we will see the price of silver skyrocket.
Fortunately no one has asked me to enter such an agreement. At these prices I can feel free to stuff my piggy bank with as many silver dimes as my little heart desires.;)
 

Zed

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I really think there is an agreement between big banks and big players to not "horde" silver. Imagine what the price of silver would be if it was being stockpiled? Discounting industrial use there's something like 120 billion dollars worth of gold that needs to be absorbed by investors every year but only about 4 billion worth of silver. If that agreement ever disintegrates we will see the price of silver skyrocket.
So you don't buy the Butler JPM stockpile idea?
 

Zed

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According to the way I look at the chart this line is the first of two, maybe three lines in the battle for all the golden marbles. It will be hard fought until it can no longer be defended.

Q 800-pound gorilla with a bullish outlook! Anyone? Anyone?

IMO it will be a hammer blow to the shorts when it finally comes.
 

SilverBuyer

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So you don't buy the Butler JPM stockpile idea?
I buy that it sold him a few more subscriptions, its does make a good story.

The USA even sold off its entire silver strategic reserve that was 165 million oz in 1968. Does this make sense to anyone? Why wouldn't they hold onto it. Its not like that is a big amount of money to a government.

Are there any confirmable (or even suspected besides JPM) significant silver stockpiles in the world? I guess SLV and maybe PSLV are supposedly holding physical silver but that's just custody.
 

savvydon

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My understanding of the supposed JPM silver hoard scheme was that A) they had enough to short the crap out of the market, pay out the occasional delivery contract and dollar average into helluva position along the way and B) be well positioned when the fuse gets lit from the largely other side shorts and sends the value of JPM’s horde to da moon!
 

savvydon

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According to the way I look at the chart this line is the first of two, maybe three lines in the battle for all the golden marbles. It will be hard fought until it can no longer be defended.

Q 800-pound gorilla with a bullish outlook! Anyone? Anyone?

IMO it will be a hammer blow to the shorts when it finally comes.
Would love to see a chart if and when you are so inclined.

FWIW I thought today was a pretty see through PM raid that only modestly accomplished banker goals. Gold didn’t seem to want to collapse any further after the initial collapse, no matter how severely silver was punished. Also, the miners seemed pretty resilient.
 

savvydon

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They were beating up on Hemke over at another thread, but this article is just verbalizing and institutionalizing what he has been saying all year - that quantative easing is coming, and with it a run for the metals, when everyone wakes up and realizes what this monetary policy will do to the dollar.

Looks to me like it’s all coming together. Not sure just when, but it looks like we are on our way.
 

Zed

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They were beating up on Hemke over at another thread, but this article is just verbalizing and institutionalizing what he has been saying all year - that quantative easing is coming, and with it a run for the metals, when everyone wakes up and realizes what this monetary policy will do to the dollar.

Looks to me like it’s all coming together. Not sure just when, but it looks like we are on our way.
It will probably play negatively for stocks, it confirms that things are not as good as otherwise indicated.
 

Zed

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Blood letting down here today... not good, panic and doubt setting in.
 

Zed

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Any thoughts now? Decent rebound.
We are bouncing back today and the bargain hunter are out. (ASX Goldies)

The Daily still looks OK, there is still a flag consolidation in play here in my opinion. I don't think that the previously mentioned targets have changed but we may see a few more swings in this consolidation before we break up. Holding this 1320/40 range is the name of the game, until we break up... I hope.

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