I will say it one more time – gold is in a bull market – since 12/9/15, I have been bullish on gold, and literally at least 50 times have talked about the huge accumulation area in gold, and why it’s so bullish long-term. I’ve done posts and videos galore, like this, this, this. There are highly paid analysts all over the place who give all kinds of excuses and they won’t say (don’t know) if gold is in a bull market. And CNBC, Bloomberg, the WSJ love them, because they bring up total uselessness about QE, real yields, politics, etc. and that’s what people want to hear, and hardly any of them are making money. Apparently all of these people find camaraderie in the fact that none of them have any clue how markets work, and none of them make any money actually trading. It’s bizarre.
Gold is in a secular bull market, and it doesn’t need any help – having some big selloffs/backups is the biggest helping hand. It’s in the big selloffs when/where the weak hands freak out, and the strong hands calmly and professionally accumulate. And in the big rallies, right into the highs, is when the weak hands love to emotionally buy, because of “trendline breakouts” and “commercial signal failures”. It happened once again in June at $1295 gold with the weak hands piling in – and when I was selling miners, and then going short.
And then on July 7th, when I was buying gold and the miners right into a fantastic long-side setup, the crowd was freaking out and totally whiffed on that outstanding entry point. July 7th was a “Jobs Day”, and the employment situation that day looked very rosy, the Fed would be hiking interest rates, everything was awesome, and gold was “breaking support” – and I stepped up into the “news” and got long. This is a bull market, and the backups are for buying – I’ve repeated that 100 times in the last 18 months.
Another favorite theory of the permabulls is about why “gold will soar” when the “stock market crashes”. This theory is accepted by all the gold permabulls, and it’s promulgated by the numerous frauds who infest the gold business. Don’t listen to them, do your own work.
love the golden clowns… the narrative just keeps looping….again and again and again…. getting good at anticipating the next thing to come out of their mouths…. where’s my homey Andrew McGuire at?
7/6/17… surge prediction
https://www.youtube.com/watch?v=LZBoCBFWzK0
wow what a surge!
http://www.kitco.com/scripts/hist_charts/monthly_graphs.plx
Big Andy. It’s humorous that despite their best efforts to screw up, these clowns are going to be on the right side of it (after 5 years). In the strong uptrend part of markets even the idiots and their commentary won’t matter. Just think of all of the stupid comments from the stock market permabulls over the last 8 years – going up despite them.