DOW has a 750 point swing from day's high to the low. A STUNNING chart showing the launching pad getting set for GOLD (and silver), and a word on BITCOIN! STATMAN'S commentary.
Welcome again Steemian friends. A lot on today's docket. Let's get to BITCOIN, 9700 as I write.
The sell called at 15,000, the buy (on the way down) 8000. A strong buy April 13th at 6950. I felt we'd have some resistance (very minor) at 8400. And see chart below (barchart.com). There is resistance stronger at 10,000.
WE now have some caution. If I added or bought at 7000 I'm taking a profit here knowing full well we can near term go to 10,000 maybe a bit more. How about a 40 percent gain in less than two weeks to just say, let's step aside?
What is more the sentiment has gotten a bit too euphoric. 77 percent of Daily FX traders are long.
Gold/Silver: see the tremendous set up that should come into action mi-June. Yes I am calling for big upside to begin in June. Gold to lead, silver a little later to follow.
The Golden Bowl above is compliments of KWN.com. Gold is on the launching pad.
1.)Russia bought 300,000 oz of gold in March and now holds ALMOST 2000 tons. WHY? We'll answer that.
2.)Russia now hold more than China and THE PLAN IS TO DESTABILIZE THE US DOLLAR. "you heard it here".
3.)Goldman Sachs has bought loads of silver for their own account.
- Central banks are scared of the coming dollar decline and very nervous about the dollar under the TRUMP administration.
Gold and silver in this seasonal worst period of the year are acting just fine. The'll get really strong late summer into fall.
1450 gold/ 20-22 dollar silver predicted here. 2019 brings much higher prices.
The Dow is a lot of smoke and mirrors. I called SELL in late December and early January and have repeatedly said buy to trade under 24,000 and sell ALL RALLIES. You here about the 10 year treasury at 3%. Well the real issue is the Tariff scenario and mid east issues with Iran. Wile rates may head much higher later, right now they'll stabilize and watch the manipulators try to rally the market yet again. Sell into it.
www.goldchartsrus.com
Thanks for the visit. If you find my almost 40 years (many as a professional) of value, UPVOTE and FOLLOW. thanks
Good post. ..we are seeing the early labor pains in a coming painful correction for the stocks. ..money will flow out with need to go somewhere. .cash....Pmetals and Crypto most likely ...
absolutely...and thanks for stopping by.
Indeed
You are on point! There will come a point when the institutions behind precious metal price manipulation will no longer have the resources to keep prices down which will lead to a huge short squeeze and rally in gold and silver prices.
thanks..I felt you'd agree...and it comes quite soon, IMHO...
Thanks for the great update, took the Mannarino trade today SpY June puts did very well. The Bond market is key at this point, but you are right that the unexpected things that Trump does can quickly move things. The bubbles are loosing air fast.
Upvoted and resteemed
Thank you for stopping by and your support..hope to see you again! The Russians and Chinese can and will wreck the dollar..it is in the works, I'm afraid. China has quietly downgrade our debt recently to their equivalent of BBBplus.
Glad I found you, thanks
I had not heard of the downgrade you mentioned.
and the same..thank you
I really thought the SPX was going to make the 2800 run...I think it is waiting to make sure rates don't spike to 3.25
I felt that run was 50-50. And still may be...But it better hurry...I'm watching put/call ratios and how the public reacts to rallies..(are they "not buying them") or sharp declines..."are they scared"..what I see is the mindset now.."buy the decline"..I feel even strong that it is not worth being in this market..I'd own the metals. Do you see a pullback right hear in bitcoin maybe 5-10 percent approaching shortly? thanks