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GOLD IS GOING TO MOVE DOWN INTO A YEARLY CYCLE LOW

Scorpio

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#1
GOLD IS GOING TO MOVE DOWN INTO A YEARLY CYCLE LOW


As is always the case at these major turning points, the usual analysts are going to get it wrong again. The dollar is finishing an intermediate cycle decline, not starting one.

Stocks are dropping down into a half cycle low of intermediate degree, not starting another leg down in a bear market.

And gold is putting in an intermediate degree top and will drop down into a yearly cycle low, it’s not starting a sustained move higher. Seriously how do these guys manage to get it wrong at every one of these turning points?


http://blog.smartmoneytrackerpremium.com/2016/04/gold-going-move-yearly-cycle-low.html
 

dpong

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#3
Good stuff, Scorpio. A wonderful reminder of what happens next.
 

dpong

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#4
@Scorpio In Zen sometimes you hit someone on the back of the head with a stick while they are busy trying to figure out one of the Zen puzzles. Then they are enlightened. I might as well give that honor to you. I have puzzled over your statements for years. Now, having a trading account and working on it, and reading the Moriarty book(let), I think that maybe I finally get it.

Thanks for all the help, and for hitting me over the head at just the right moment.

With Moriarty, etc. and what you have said, I have discovered the thing that is most important in trading. I know, that you know, what that is.

Serious,
dpong
 

Irons

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#5
It can go down, fine with me. These damn $320 Sovereigns are killing me man!
 

the_shootist

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#6
It can go down, fine with me. These damn $320 Sovereigns are killing me man!
Why? Those were a pretty good score.
 

Scorpio

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#7
thanks dpong,

that was appreciated for sure,
 

Irons

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#8
Why? Those were a pretty good score.
I like them around $250- $280. When they get too expensive I can't buy as many.
Buying coins makes me happy! Losing them in the lake not so much.

.
 

the_shootist

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#9
I like them around $250- $280. When they get too expensive I can't buy as many.
Buying coins makes me happy! Losing them in the lake not so much.

.
Well, they're right around $350-370 now
 

Scorpio

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#11
for you dpong,

Sun Tzu/Quotes
Victorious warriors win first and then go to war, while defeated warriors go to war first and then seek to win.
The supreme art of war is to subdue the enemy without fighting.
Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.
 

skyvike

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#12
My goodness we are getting philosophical in our old age!
 

the_shootist

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#13
Up is down and down is up
 

luckabuck

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#14
Too much philosophy for me. Just enjoy people writing about metals going up or down, and seeing that they know no more than I do.
 

the_shootist

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#15
I know this with a high degree of certainty (which means I don't KNOW squat)...2016 will be a year like no other year in American history!
 

southfork

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#16
Figured it was about time for metals to go south.
 

solarion

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#17
Figured it was about time for metals to go south.
Seems unlikely to do so with much conviction while the USDx is also dropping. Currently down .32.
 

shamrocks33

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#18
It should be said that old Gary has had his subs on the sidelines for quite some time now. He is getting more and more frustrated and angry with his calls for this major correction. Could you imagine waiting 5 years only to have your favorite guru have you on the outside looking in?
 

nickndfl

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#20
They blooped up gold prices like they did the stock market after the FED stood pat on interest rates. Now it's time to watch for bargains as profit taking begins.
 

solarion

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#21
So are we on target for a price drop in June?
Nobody knows. If they tell you they do they're lying.

Today the dollar is down, PMs are down, bonds are down(yields up), stocks are up. The only thing that is painfully obvious is that all markets are heavily manipulated.
 

Irons

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#22

FunnyMoney

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#23
They blooped up gold prices like they did the stock market after the FED stood pat on interest rates. Now it's time to watch for bargains as profit taking begins.
This is definitely what general consensus believes.

Difficult business to make predictions and still remain in business. It's easier to make "loose" predictions that can be interpreted in a variety of ways. He doesn't seem to be doing that, to his credit. He seems to be saying that he expects more upside for the very near ST and then a major down move sometime later this month or in the summer and he indicated the 1150 area with his mouse pointer.

This particular call seems to be a popular one, the USD climbing back toward 98+ could easily trigger a big down move. I am of the opinion we will power through the noise though. I had been with the summer doldrums camp, but the combination of silver's big confirmation from 15 to 17 and last week's move out and beyond the recent trading range in gold changed my mind.

Not super confident about it, but I do believe we have left 1224 behind and even a move back that far to be unlikely.
 

Scorpio

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#24

anywoundedduck

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#25
I think smart money tracker is full of it. Horseshit I say!
I don't believe it, and I am invested accordingly.
 

Ragnarok

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#26
It would be interesting indeed if we did not get a seasonal low, because that would mean a real boost into winter of this year.

R.
 
Last edited:

skyvike

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#27
So what that it?

THAT was the correction?
 

anywoundedduck

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#28
Getting bloody in the trading pits at the COMEX!
Smelling something burning too.
 

Ragnarok

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#29
Ah, the wonderful smell of burning papergold.
 

solarion

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#30
So what that it?

THAT was the correction?
Wasn't much there there was there? Plus now the funny munny index is pushing 94...it's a long way down.