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Old 04-02-2013, 12:20 PM   #1
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How long can we take PMs getting pounded?


The paper prices of our PMs are getting bashed today. And the stagnation we have seen in prices for over a year are disheartening. How much of this is manipulation? I sure don't know.

But, I think I do know this: NONE of our basic financial problems have been solved, nor does it even look like they are even being addressed.

We seem to be in a time where doing the right thing (buying gold & silver in case the wheels fall off the train) is looking stupid... And while it is very useful to question one's assumptions from time to time, I fully believe that gold and the other PMs will rise as our financial and political system degenerates...


However difficult it appears, I will be one who continues to buy PMs even if gold is on the way down to a "price" of $1535, $1235, whatever. Because gold is one of the few things that will continue to be of value under almost any conceivable scenario.

^--- And you can book that, Danno!
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Old 04-02-2013, 12:31 PM   #2
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Originally Posted by Jim Sinclair :
This is a massive attempt to break gold in order to camouflage the weakening Western banking sector. Paid bashers are flooding in to all pro-gold sites and many other pro-gold sites are under attack in other ways.

Gold banks are flogging the paper market seeking to depress the price but without selling too much.

It is so obvious that this is a gold bank organized strategy to keep gold under $1600. Old lows will hold and the reversal will be at a spiritual level.

My strategy is to simply to do nothing.
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Old 04-02-2013, 01:16 PM   #3
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It ends when it ends..

19 months into this correction at this point. MACD is starting to turn up on the weekly charts. We might make nominal new lows (could go as low as 1440) but that really wont help stackers all that much because I think the rally off those lows will be sharp if it happens. I'm not particularly short term bullish here and think you pretty much sit and wait to see what happens. Price action right now doesn't change my long thesis.

The bigger deal IMO is silver. I really like seeing it getting beat up because it makes for a better setup.
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Old 04-02-2013, 02:04 PM   #4
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The complete lack of reaction of the paper markets to Cyprus was a great confirmation to me that they are no longer in any way representative of physical demand.

The longer they are smacked down the better imo.
I am convinced the real price is at least >5x paper price.
But when I see it start correcting I won't be happy.
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Old 04-02-2013, 02:19 PM   #5
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Perspective, people! (link to the source of the chart below, where you can look at other intervals and customize).


When the 50 sma is going down, and gold is below that, it acts as resistance...and every time it rises to the falling 50, it bounces down, at least as far back as this will take you (and other sources show the same thing, more or less, since "the troubles" at least). So this is exactly zero surprise to my own trading system. Seems the 50 sma works in part because almost no one else uses it - classic market theory that still works, as it's based on human nature.

While it may not accord with the philosophy here - I am (very net) short paper gold right now, to hedge my long physical and paper investments. I believe I will close all that green - right now, the (3x) short is VERY green, but not time to close it just yet. It remains to be seen if we hold what looks like support around 1550 or even 1500 - I think we will (CB's kick in more buying around there, especially China), but if we don't, that short will make me rich, and I'll still have my stack - and money to buy more on the inevitable turn as well.

This method helps me sleep well - and my stack ain't getting any smaller.
I might not be buying more right this instant - don't catch a falling knife, wait for it to stop falling first - but I will. We all know how this crazy CB stuff always ends...
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