yeah I don't really listen to what the major brokerages say for
gold, they never seem to get it right, I remember they were all
super bearish in 2001 and 2001 when the secular bull was beginning.
funny video (
CLICK HERE) I remember watching this back in 2009 I think, a British
Politician just reaming Gordon Brown for selling nearly all of
Englands gold reserves at the bottom, I think it's also referred to
as 'Brown's Bottom'. the word is he listened to Goldman Sachs who
at the time was very bearish on gold at the time.
anyway I just follow charts
anyway listen to that video, great speech by that guy Danniel
Hannon
And specs are super long in gold: 2.59x 1 year & 3.35x 3
year Z-Scores as of Friday's CFTC release. With the USD at -2.11x
1 year you are buying very high expecting gold to go higher
here without more relief and a good setup first.
Posted by caddpro123 on 11th of May 2016 at 03:22 pm
True enough Matt. I just offered it as a point of interest given
how bearish JP Morgan has been of late regarding the metals. They
have rarely provided me with any profitable insight. Generally
speaking, I consider them background noise to be ignored.
Posted by caddpro123 on 11th of May 2016 at 02:32 pm
I believe breaking 1300 in May would be a strong buy signal. The
money in precious metals right now is with the miners, not the
metals themselves. If you wait until the price hits 1380 you will
have missed a golden opportunity. (sorry I couldn't resist) Even at
these levels, the miners as a whole are well below prices of just a
few years ago.
But how do you know that a move up is not a reaction to a low
last year, and that we will see $1,000 before we see $1,400? The
upside is up to $5,000 at least, so I would not be concerned about
getting an extra $80 now.
JP Morgan predicts $1400 Gold in 2016
Posted by caddpro123 on 11th of May 2016 at 02:22 pm
Assuming I didn't miss a post on this JP Morgan pronouncement:
https://news.markets/commodities/1400-beckons-gold-price-jpmorgan-17332/?
yeah I don't really listen
Posted by matt on 11th of May 2016 at 03:04 pm
yeah I don't really listen to what the major brokerages say for gold, they never seem to get it right, I remember they were all super bearish in 2001 and 2001 when the secular bull was beginning.
funny video ( CLICK HERE ) I remember watching this back in 2009 I think, a British Politician just reaming Gordon Brown for selling nearly all of Englands gold reserves at the bottom, I think it's also referred to as 'Brown's Bottom'. the word is he listened to Goldman Sachs who at the time was very bearish on gold at the time.
anyway I just follow charts
anyway listen to that video, great speech by that guy Danniel Hannon
And specs are super long
Posted by a_l_ on 11th of May 2016 at 07:05 pm
And specs are super long in gold: 2.59x 1 year & 3.35x 3 year Z-Scores as of Friday's CFTC release. With the USD at -2.11x 1 year you are buying very high expecting gold to go higher here without more relief and a good setup first.
Major players
Posted by caddpro123 on 11th of May 2016 at 03:22 pm
True enough Matt. I just offered it as a point of interest given how bearish JP Morgan has been of late regarding the metals. They have rarely provided me with any profitable insight. Generally speaking, I consider them background noise to be ignored.
Goldman covered its shorts at
Posted by junkie on 11th of May 2016 at 03:21 pm
Goldman covered its shorts at a loss. Is JP Morgan next?
http://www.zerohedge.com/news/2016-05-10/goldman-closes-short-gold-recommendation-45-loss-will-continue-buying-gold-its-clien
They need suckers to buy
Posted by junkie on 11th of May 2016 at 02:25 pm
They need suckers to buy so that they could cover their shorts! Exceeding last year's high at 1380 would be a buy signal, but not before.
Buy signal
Posted by caddpro123 on 11th of May 2016 at 02:32 pm
I believe breaking 1300 in May would be a strong buy signal. The money in precious metals right now is with the miners, not the metals themselves. If you wait until the price hits 1380 you will have missed a golden opportunity. (sorry I couldn't resist) Even at these levels, the miners as a whole are well below prices of just a few years ago.
But how do you know
Posted by junkie on 11th of May 2016 at 02:42 pm
But how do you know that a move up is not a reaction to a low last year, and that we will see $1,000 before we see $1,400? The upside is up to $5,000 at least, so I would not be concerned about getting an extra $80 now.
What is your strategy
Posted by caddpro123 on 11th of May 2016 at 02:47 pm
It all depends; are you trading the metals, the ETF's or the miners themselves?
I will not buy an
Posted by junkie on 11th of May 2016 at 02:58 pm
I will not buy an ETF for known reasons, only the metal itself or a futures contract.