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Why Gold and Silver Will Plunge Soon

Scorpio

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#1
Why Gold and Silver Will Plunge Soon
March 9th, 2016




Larry Edelson:
Everyone and their brother now thinks that gold and silver are headed to the moon. All because they’ve had a decent rally of late. Gold jumping from its low $1,044 last December (nearest futures) to as high as roughly $1,268 recently.

Silver from a low of $13.62 (nearest futures) last December to a recent high of as much as $15.99.

And truth be told, gold and silver have indeed most likely bottomed, right on target with my forecast for last year, to bottom in late November/early December.


So why am I panning gold and silver now? Actually, I am not. I am panning all the pundits and investors out there who now say gold and silver are headed straight up to new record highs … and that if you don’t buy now, you’ve missed the train.

Nothing could be further from the truth. You have not missed the train. But what I do NOT want you to do is jump on the gold and silver bandwagon at an intermediate-term top!

Instead, I want you to be buyers on the next pullback, buying when everyone else is turning bearish again … buying near the next set of lows … so you can then maximize your profit potential.

Good, healthy, strong, long-lasting bull markets are made up of zigs and zags higher. Strong rallies. Followed by sharp, deep pullbacks.

And that’s exactly what’s about to happen in gold and silver. Not to mention platinum and palladium.

Here’s one way I know: My trusty cycle analysis of gold, based on my artificial intelligence and neural net models that analyze tens of thousands of trading data points on gold and silver and then crunch them billions of times over to find the most probable cycles and forward path for prices.


Take a look. What do you see? Gold topping now, and heading lower into early June.

From there, we should then see gold’s next major leg higher begin.

Ditto for all the other precious metals.

So my best advice right now, as hard as it may be to follow, is NOT to buy any gold and silver.

And instead, to wait patiently for the next opportunity.

How low can gold and silver go on this pullback?

Gold can fall all the way back to $1,180, possibly even lower. Silver can fall all the way back to the low $14 level, possibly even $13.50.

As far as I am concerned, I will be using this upcoming pullback to get bearish gold and silver, to make money on the short side. And, I will be advising my trading subscribers to do the same.

But that’s not for the faint of heart and it’s not for me to recommend in this column, as timing is everything. I could not possibly get you in and out of the market in a column that publishes once a week.

The same thing, of course, applies to virtually all markets. I can’t give you timely recommendations in a weekly column. I need to be able to communicate with you daily, sometimes more than once a day, and by hook or crook, text messaging, emails, voice broadcasts, whatever means.

I’m merely mentioning that now for only one reason: Nearly all markets are now heating up in a way where there will be more fortunes made by savvy traders than at any time since the late 1970s.

And if you want to be a part of it, you should consider one of my trading services. It could be the best step you ever took for your finances.

Meanwhile, there’s something else I want to warn you about, not just the coming pullback in gold and silver.

more here:
http://etfdailynews.com/2016/03/09/why-gold-and-silver-will-plunge-soon/
 

oldgaranddad

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#3
I think the flaw in Mr. Edelson's theorem is he still believes that the western banks still control the gold supply to the extent that they used to.

Now with the Shanghai gold exchange putting pressure on the other international gold markets and ICBC Standard Bank leasing Deutsche Bank's huge disused London gold and silver vault. I think the Chinese will have some say in the matter.

Yes. We may see a pice dip in gold but that will be a buying opportunity for the Chinese to stock up but in the long run. I think the trend will be more on the upside as the Chinese start beating their western counterparts with their golden hammer.

Just my humble two cents.
 

Scorpio

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#4
that is the same version of the seasonal I have been speaking to,

That chart illustrates it perfectly,

Yet, this year, the seasonal started extremely late, and has not acted in a typical fashion.
 

REO 54

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#6
that is the same version of the seasonal I have been speaking to,

That chart illustrates it perfectly,

Yet, this year, the seasonal started extremely late, and has not acted in a typical fashion.
So, Doldrums are starting early this year? The El Niño of metal climate change a brewin?
 

GOLD DUCK

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#7
QWAK,All things are posable but not all things will happen.:oriental:

the DUCK :winks2:
 

foolsgold

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#8
Damnit we demand unicorns and rainbows!!

What about all those damn rockets?
 

Scorpio

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#9
REO,

I hear ya. Yet, this has been a extremely short run to less than 1300 and haven't eclipsed 16 in silver. So we really haven't gotten anywhere. But, and a big but it is, we have taken the 200 dma's on them. That is typically a signal that the trend is changing. That is all good stuff.

This certainly hasn't followed any seasonal as of yet in true fashion, nor would it coming off a major market decline. So that's fine. One reason I reference it though, is that when we have a typical seasonal, the period starts to culminate in the March or April period at the latest, then it takes a break. One year, it even concluded in late Feb. So we are in that window now.

That is the only reason I tossed out the 'caution' tape this am. It is time where anything can happen, and especially after a decent run with no real backing and filling.

JMO
 

lug1

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#10
So silver kissing $16 this morning. Up and up? Or retrace in the next month? Does it hit $17 before it hits $15?
 

gringott

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#11
Interesting to me, and something that I don't think has happened in a long long time, is the holding of gold and cash by the big German insurance company. I got a feeling this will spread if the insurers can't get any low risk [keep your capital] in stocks or bonds. Unintended consequence of NIRP & ZIRP?
 

Eyebone

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#12
Everyone and their brother now thinks that gold and silver are headed to the moon.

'They' will have to pass some real draconian laws to keep this from happening.

I wouldn't put it passed them.
 

the_shootist

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#13
The truth is that no one knows. Anyone telling you they do has a book to sell you
 

Irons

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#14
I'm broke until summer anyway.
 

Scorpio

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#15
no more unobtanium for you irons,
 

Irons

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#16
no more unobtanium for you irons,
Don't be mocking me Furball I am broke paying taxes insurance and fees until around June every year.

"Buy a house they said, it will be great they said" I have 2 I am so smart.

.

.

.
 

Scorpio

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#17
no kidding, this time of year is the worst ................
 

Mr Paradise

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#18
I can crush the skull of a communist with a 100oz brick ...I can't do that with a stack of FIAT.



...bring on the dip.
 

Weatherman

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#19
Edelson is right that the hard rally this year deserves a correction before the next leg up, but my hope is that the correction will not be as sharp or severe as he projects. The Golden Cross (50 DMA higher than the 200 DMA) is a sign of continuing strength. My guess is the correction could be horizontal with both gold and silver entering into a trading range for a few months. That would set the stage for an explosive next leg higher. YMMV so DYODD.
 

the_shootist

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#20
I have three predictions that I have 100% confidence will be totally accurate.

1. We'll know more about the where the price of gold will be tomorrow than we know today.
2. We'll know more about where the price of gold is tomorrow than we'll know the day after.
3. None of what we know today is guaranteed to remain the same tomorrow

Watch out for my new book being released that details all my 'can't miss' after the fact predictions
 

FunnyMoney

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#21
After the fact? LOL. Which one is that?

I have three predictions that I have 100% confidence will be totally accurate.

1. We'll know more about the where the price of gold will be tomorrow than we know today.
2. We'll know more about where the price of gold is tomorrow than we'll know the day after.
3. None of what we know today is guaranteed to remain the same tomorrow

Watch out for my new book being released that details all my 'can't miss' after the fact predictions
 
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FunnyMoney

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#22
Edelson is right that the hard rally this year deserves a correction before the next leg up, but my hope is that the correction will not be as sharp or severe as he projects. The Golden Cross (50 DMA higher than the 200 DMA) is a sign of continuing strength. My guess is the correction could be horizontal with both gold and silver entering into a trading range for a few months. That would set the stage for an explosive next leg higher. YMMV so DYODD.

Are you able to make money with the Edelson program? I have only read a few of his free writings. I agree about the trading range, I see 1220-1240 on the low side and 1260-1275 on the high side. Pushing up to Y300/gram in Yuan. It already hit 320/gram in China for physical retail when we had usd $1280 back on the Chinese new year. Right now we're way back in the 2 handle..

Back to Edelson, I didn't see anything concrete in his pull back thesis in the op. His chart shows that gold will test new lows in June but the article says that he called the bottom already. Not sure if this isa have it both ways posts, well it was confusing to me at least. That, and much of the article was him pitching his service. Then he has a prediction of gold to 1180, silver to 14 but then backs away from that with a disclaimer that he has to send you something daily so you'll need his service.

He is not calling for another month or so of trading range though, that much is for sure. My thinking is we must defeat Y300 mark. Defeat it in the same way we defeated $700 or 500 or maybe even 400 back years ago. I don't know which , but just wait and find out on that one and then keep track of the info for later in case it becomes relevant for a future trade. Either way I think the approach and re-breach of Y300 is coming.

I think trading range 1-3 months more. Sometimes these stair step down. What will be the next catalyst , any clues?.
 
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the_shootist

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#23

FunnyMoney

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#24
You missed the sarcasm
No, I didn't miss it, but I thought you had something specific, where there was really no call made ahead of time but the author said he had. I don't follow this one regularly so I wouldn't know.