Who turned on the rockets?
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DCFusor
Yellow Jacket
I second that Au. I was going to double down but didn't. Rats. There *might* be another chance, but if not, well, there's still the stash I have already. I'll live.
superhero
Predaceous Stink Bug
Yup, also on the "doh!" side. At $1325, thought it would drop a bit. Who knew it would rocket to $1400?
Still might come crashing down to earth, but we hadn't seen a vertical takeoff like that in a while. I was debating on a purchase a few days ago and ended up buying half of what I was planning to buy. It's all good IMO (as long as I've got physical in my hands).
DCFusor
Yellow Jacket
My own dumb trading system hasn't seen this extended a rise above the falling 50, in all time. It was so fast I'm guessing something changed in a really fundamental way. If it drops back below the now-rising 50, and breaks to the upside again, I'll feel better, but my gut says - the game is afoot, something really evil is happening, and the system might be broken from here out.
This move was so fast, historically, something is ahead of itself - historically. But history only rhymes, it doesn't repeat. So I'm willing to wait a bit more to "double down", just in case. I might have missed the rocket train (which someone seems to apply the brakes to each time - note we jumped, but then levelled off) - but I never really miss it - there's that stack.
This move was so fast, historically, something is ahead of itself - historically. But history only rhymes, it doesn't repeat. So I'm willing to wait a bit more to "double down", just in case. I might have missed the rocket train (which someone seems to apply the brakes to each time - note we jumped, but then levelled off) - but I never really miss it - there's that stack.
Sinclair says the banks launched the rockets:
http://www.jsmineset.com/2013/08/23/price-manipulations-in-gold-now-favor-the-bullish-side/
It's certainly possible that the banks were behind yesterday's rocket launch. I really didn't see any news or impetus for hedge funds to suddenly reverse their short positions in the paper markets. Honestly, given the reports that the big commercials/banks have been long for a couple of months now, I was wondering what took them so long. You'd think there might be a strong incentive to raise the price and stem the flow of physical to Asia.
http://www.jsmineset.com/2013/08/23/price-manipulations-in-gold-now-favor-the-bullish-side/
It's certainly possible that the banks were behind yesterday's rocket launch. I really didn't see any news or impetus for hedge funds to suddenly reverse their short positions in the paper markets. Honestly, given the reports that the big commercials/banks have been long for a couple of months now, I was wondering what took them so long. You'd think there might be a strong incentive to raise the price and stem the flow of physical to Asia.
Trader Dan with a different take:
http://traderdannorcini.blogspot.com/2013/08/weak-housing-number-propels-gold-higher.html
There have been numbers reported in the last few weeks that also signalled that tapering wasn't going to happen, but it didn't move the metals much. I'm not sure I'm buying Dan's explanation this time around. Doesn't seem like the metals would have moved that dramatically on this news, but what do I know? (not much about trading the paper markets)
http://traderdannorcini.blogspot.com/2013/08/weak-housing-number-propels-gold-higher.html
There have been numbers reported in the last few weeks that also signalled that tapering wasn't going to happen, but it didn't move the metals much. I'm not sure I'm buying Dan's explanation this time around. Doesn't seem like the metals would have moved that dramatically on this news, but what do I know? (not much about trading the paper markets)
ancona
Praying Mantis
I think that tapering is now, and always has been just a threat. The crap they are buying is stuff that no one else want's to buy in any quantity, which I suspect to be true for both MBS and the notes they buy from themselves. If they stop buying, who else will do it?
R
roguefaction
Dueling Banjos
Today has dawned with a startling and unusual concurrence of opinion from the widest-apart range of the gold pundit spectrum... hence my choice of title...
Dueling banjos. Both Jim Willie - http://news.goldseek.com/GoldenJackass/1377288000.php - and Martin Armstrong - http://armstrongeconomics.com/2013/08/ - are strumming to the tune of $5000 gold. I find that much more interesting than "Mr. Gold's" hit n miss karaoke! And "traderdan" lost me a week or some ago when he started pimping for Tyson's feedlot suppliers' use of insanely poisonous feed additives so as to goose profits at the expense of American lives and wellbeing!
Ergo my alternate card to your suggested match up PMbug! Maybe we could throw all four into the ring as a tag team attraction: anybody know if the COBO center in downtown Detroit is still reachable by non-armored Hummer vehicles? Seems like the logical choice of venue for a nostalgic 'blast from the past;' maybe a discarded costume of "the Sheik" or another of the 'great ones' is available on Ebay to cloth our champions with...
I'd certainly contribute to that cause!
While Willie considers that number a given, Armstrong has thrown it into the mix as a possible outcome... no matter the explanation, the fact that they give that exact figure their(qualified or not) blessing is an awesome concurrence of ideas on the part of the two guys who have been proven more right than wrong over the mid-term...
a wave that ...cough...cough, "others," can only dream about catching. Indeed, in the context of "freegolds" $55000, and the $134,000 figure of one of my other correspondents[completely lucid argument, btw - if ultimately mistaken!] ... $5000 is starting to look like a middle of the road number that will be laughed at with disdain by the true believers of the PiedPipers' acolytes! Having seen the venom with which they attack any possible alternative opinion as to the outcome of the current 'state of siege' in the putative "markets"... I've given up even trying to gauge where the consensus goldbug opinon lies; as I restrict my flights of fancy to this solar system exclusive of the more far-flung parts of the galaxy!
I like DCFusor's sniff sense here... something is indeed amiss! But I myself sense that we will all 'miss' on nailing what the big event to come is... something crazier than even the wackiest of imaginations can dream up awaits us round a not too distant corner...
all we can do is "speculate" ... on what that might be!:flail:
Today has dawned with a startling and unusual concurrence of opinion from the widest-apart range of the gold pundit spectrum... hence my choice of title...
Dueling banjos. Both Jim Willie - http://news.goldseek.com/GoldenJackass/1377288000.php - and Martin Armstrong - http://armstrongeconomics.com/2013/08/ - are strumming to the tune of $5000 gold. I find that much more interesting than "Mr. Gold's" hit n miss karaoke! And "traderdan" lost me a week or some ago when he started pimping for Tyson's feedlot suppliers' use of insanely poisonous feed additives so as to goose profits at the expense of American lives and wellbeing!
Ergo my alternate card to your suggested match up PMbug! Maybe we could throw all four into the ring as a tag team attraction: anybody know if the COBO center in downtown Detroit is still reachable by non-armored Hummer vehicles? Seems like the logical choice of venue for a nostalgic 'blast from the past;' maybe a discarded costume of "the Sheik" or another of the 'great ones' is available on Ebay to cloth our champions with...
I'd certainly contribute to that cause!While Willie considers that number a given, Armstrong has thrown it into the mix as a possible outcome... no matter the explanation, the fact that they give that exact figure their(qualified or not) blessing is an awesome concurrence of ideas on the part of the two guys who have been proven more right than wrong over the mid-term...
a wave that ...cough...cough, "others," can only dream about catching. Indeed, in the context of "freegolds" $55000, and the $134,000 figure of one of my other correspondents[completely lucid argument, btw - if ultimately mistaken!] ... $5000 is starting to look like a middle of the road number that will be laughed at with disdain by the true believers of the PiedPipers' acolytes! Having seen the venom with which they attack any possible alternative opinion as to the outcome of the current 'state of siege' in the putative "markets"... I've given up even trying to gauge where the consensus goldbug opinon lies; as I restrict my flights of fancy to this solar system exclusive of the more far-flung parts of the galaxy!
I like DCFusor's sniff sense here... something is indeed amiss! But I myself sense that we will all 'miss' on nailing what the big event to come is... something crazier than even the wackiest of imaginations can dream up awaits us round a not too distant corner...
all we can do is "speculate" ... on what that might be!:flail:
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With respect RF, I'm not sure what you are trying to say in your post, especially given your understanding of the ethos I laid out. Your post works hard to denigrate a few people and rails against some points that no one here was talking about - points that only you introduced.
I referenced Sinclair's statement because I thought it was an interesting speculation. To infer that he is my (our) "champion" based upon that is a bit of a stretch. I reference all sorts of people and sources if the material is interesting.
So, I ask you - any thoughts on the subject of the thread? Who was behind the market move and what might that portend for the future?
I referenced Sinclair's statement because I thought it was an interesting speculation. To infer that he is my (our) "champion" based upon that is a bit of a stretch. I reference all sorts of people and sources if the material is interesting.
So, I ask you - any thoughts on the subject of the thread? Who was behind the market move and what might that portend for the future?
R
roguefaction
With equivalent respect sir, I note that the interjection of a bit of irreverent humor in dealing with the somewhat imposing\imposed status of certain commentators in the gold community is considered here a violation of the unspoken code of your site... and that likewise, to travel to a conclusion not dissimilar to your own via another, perhaps less well traveled route, is a non sequitur, in your terms of reference.
All grist for the mill, and a quick way of finding my compass points in a quest in pursuit of honest folk, and fords of freethinking cross the rivers of Babylon...
a la prochaine!
mmerlinn
Ground Beetle
From my perspective it does not matter who launched the rockets. With the sharp plunge a few weeks ago, it was inevitable that there would be a sharp rebound eventually, something like when you drop a ball from a high building.
The ball, if it is elastic enough, will easily bounce at least halfway up from its bottom before again bouncing off of the bottom. The ball will continue to bounce with shorter and shorter bounces until there is some new impetus at the bottom adding energy to the bounces. With enough added energy the ball will bounce higher than the building and may then start bouncing off of the building.
So, to sum this up - Ho hum, 26 (silver) here we come, then back down to possibly 19 again. I see no new energy added to these bounces, so 26 or so is the max for this bounce. I am expecting 26 on/about the last day of August.
The ball, if it is elastic enough, will easily bounce at least halfway up from its bottom before again bouncing off of the bottom. The ball will continue to bounce with shorter and shorter bounces until there is some new impetus at the bottom adding energy to the bounces. With enough added energy the ball will bounce higher than the building and may then start bouncing off of the building.
So, to sum this up - Ho hum, 26 (silver) here we come, then back down to possibly 19 again. I see no new energy added to these bounces, so 26 or so is the max for this bounce. I am expecting 26 on/about the last day of August.
And then it is going to go back down. This is fun, reminds me of a tennis match.
Oh, and to answer the question in the thread I think gold went up because things are heating up in the mideast. Egypt and Syria are blowing up. So in a sense the rockets are literal. . $.02
Oh, and to answer the question in the thread I think gold went up because things are heating up in the mideast. Egypt and Syria are blowing up. So in a sense the rockets are literal. . $.02
Uh.. being critical of commentators is fine and plenty of us have been. It's just irrelevant to the discussion. If you wanted to be critical about something Armstrong or Sinclair said about the war that is on the horizon, then by all means, go right ahead. However, that isn't what you are doing.
I don't care what forum you go to, being passive aggressive with the moderators isn't exactly the best way to have a productive discussion.
ffftt:
mmerlinn
Ground Beetle
You are such because you have graduated out of the noob category and have not made it to the big-eyed bug category. Keep the humor coming and sooner or later you will graduate.:clap:
