Gold bugs!

[brickweeder]

...As far as Gold, the most recent Close was the highest end of day or end of month close ever.

In other words, higher than in 2011.

Eric Sprott talked about the details in his July 4 webcast.

Looking at the monthly bar chart on Tradingview, the highest monthly close in 2011 was Aug, at $1823.30. The June 2020 monthly close was $1781.86. Hmmmm.

The weekly close for Aug 29, 2011 was 1883.10, which means that on the last day of that week, Gold closed at 1883.10.

So clearly, the most recent close of 1781.66 was not the most highest Monthly or daily close ever. 2011 still holds both of those spots.

Come on Eric, tell us what you are smoking!

 

[gladysvjubb]

"seems" is the key. sprott is a perma-bull on the metals. Sometimes a stock or commodity breaking above or below a trendline turn out to be a false breakout, and the price reverses to the opposite direction...much to the frustration of those betting on the original direction and price objective from the breakout. Bullish patterns can turn to bearish patterns with a bit more time.

Sometimes the second top in a double top is slightly higher than the first, and given the shape of the monthly gold chart, a double top can't be ruled out at this time. But sometimes what looks like a possible bearish pattern, like a double top, morphs into bullish pattern such as an inverse head and shoulders.

Dang...now I don't know whether to buy or sell.

If you already own, just sit still. As far as entry here? I asked my 7 year old Grandson if he wanted to purchase another 1 oz PCGS MS-70 Gold Buffalo $50 piece. He said he wants to keep the cash right now. I ALWAYS listen to him. You can not argue with him because he always turns out to be correct. What can I say?

 

[St. Phatty]

Looking at the monthly bar chart on Tradingview, the highest monthly close in 2011 was Aug, at $1823.30. The June 2020 monthly close was $1781.86. Hmmmm.

The weekly close for Aug 29, 2011 was 1883.10, which means that on the last day of that week, Gold closed at 1883.10.

So clearly, the most recent close of 1781.66 was not the most highest Monthly or daily close ever. 2011 still holds both of those spots.

Come on Eric, tell us what you are smoking!

don't blame Eric. I was smoking a Blue HB cross.

he knows his data. since you dug up that data my money is on -
highest quarterly (or half) close.

i have no problem with Au being parked @ $1780 ish.

 

[flylowgethigh]

I have a problem with the Au/Ag ratio being almost 100. And the dollar being under 100. With CB globally running their printing presses full speed, especially muncher at treasury, our dollah is doomed.

https://finance.yahoo.com/quote/DX=F

 

[brickweeder]

don't blame Eric. I was smoking a Blue HB cross.

he knows his data. since you dug up that data my money is on -
highest quarterly (or half) close.

i have no problem with Au being parked @ $1780 ish.

Awesome on the Blue HD. Make sense on the highest quarter. I think a right shoulder low is coming, just not clear if it will start from around this area, or from higher up. I am kind of hoping for higher up but am prepared if it happens from this zone. I've learned to take sprott with a few grains of salt, rule is much better than sprott, imo.

 

[brickweeder]

I have a problem with the Au/Ag ratio being almost 100. And the dollar being under 100. With CB globally running their printing presses full speed, especially muncher at treasury, our dollah is doomed.

Not too often you get a 100+:1 opportunity, I know what I'm doing if it drops back to 30:1 or lower. Dollar may not be doomed, as all CBs are running full bore, the dollar basket is relative to other CB prints, and the US dictates monetary policy to its vassals. Nonetheless, every once in a while the yellow metal runs against ALL currencies, and that eventually brings the white metal along for the ride, but on steroids. I think we will see this in the not too distant future, but it takes a frustratingly long time time for the spring to load up, then BAM! the white metal run is on...

 

[flylowgethigh]

When Au/Ag hits 30, trade Ag for Au. I wish I did in May 2011.

 

[St. Phatty]

When Au/Ag hits 30, trade Ag for Au. I wish I did in May 2011.

so do I.

however, I think that is a natural education.

Not too often you get a 100+:1 opportunity, I know what I'm doing if it drops back to 30:1 or lower.

if I could actually get that ratio, 100 to 1, that would be great.

but the premiums on Silver went so high.


someone mentioned Rick Rule.

Yes, he is really knowledgeable.

There's not too many people who can sell Silver at the bottom, and put it into mining stocks - and make a bundle. with Rifle-like precision.

if I was that wealthy, I would give Rick some money to manage just for the pleasure of watching him do it. He is like Joe Montana at his peak.


i was going to say, "all it takes is one billionaire to get a hard on for Silver", but Eric Sprott is a billionaire.

Rick Rule might be.

so, 3 billionaires ?

anyway, at some point all of that money flowing into the stock market, part of it will flow into Gold. a percentage of that will flow into Silver.

 

[brickweeder]

When Au/Ag hits 30, trade Ag for Au. I wish I did in May 2011.

same here. The run up to 50 on the POS sure was fun though.

 

[brickweeder]

...if I could actually get that ratio, 100 to 1, that would be great.

but the premiums on Silver went so high.

You can still take advantage of ratio by using slv and gld, provided you are comfortable with holding paper short-to medium-term. Same thing happened to premiums in 08, went way high relative to paper POS...slv would have been the play back then to avoid excessive premiums when POS hit sub 9, and it can be used now.

 

[flylowgethigh]

I have zero moolahs that WS can access, so SLV and GLD are out. Those were the only way to get long when the crash hit in March. Or COMEX.

Personal fault and it has cost me a lot, but I won't participate in their fraud. My guns and metals are down at the bottom of the pond somewhere, after my boat tipped over. Poor me.

 

[St. Phatty]

I have zero moolahs that WS can access, so SLV and GLD are out. Those were the only way to get long when the crash hit in March. Or COMEX.

Personal fault and it has cost me a lot, but I won't participate in their fraud. My guns and metals are down at the bottom of the pond somewhere, after my boat tipped over. Poor me.

yes. me having that house-boat, with the safe, that sank over the Mariani Trench. that was not a good idea.

can i borrow some money for a submarine ?

on the other hand, my money is safe now !

 

[gladysvjubb]

My 4 cryptos are making me large amounts of money.
Have been since I recommended them in March.

 

[brickweeder]

...Personal fault and it has cost me a lot, but I won't participate in their fraud.

I used to be this way, but slv/gld have the benefit of being able to sell options against your holdings during the doldrums, and you can also use them to protect any value you have have gained on your metals during a run-up by simply buying a put or three.

When you think maybe its time to sell some of your metal, buy a slv or gld put with a far far out expiration, keep your metal long, and book some put profits on the declines.


Plus, when you use SLV or GLD to protect your metals by using puts, you are positioned in the same direction that exposure of the fraud would cause, if/when that occurs.


Then buy some metal, new LED, or a keg of beer with your profits.

 

[gladysvjubb]

Hell, if you are not aware of it, you can collect 8.6% INTEREST on your BITCOIN holdings. All you have to do is go to BlockFi. com
It is more than outstanding.
Your BTC is not locked up and remains floating for you to Buy, Hold or Sell at any time except the first 72 hours you put it to work.
Yes folks, it is time to pull your heads out and make your money work for you!!!

 

[flylowgethigh]

My 4 cryptos are making me large amounts of money.
Have been since I recommended them in March.

Will you please show us a picture of your crypto? If you drop one on your foot, does it hurt as much as a monster box of ASE's?

 

[flylowgethigh]

I used to be this way, but slv/gld have the benefit of being able to sell options against your holdings during the doldrums, and you can also use them to protect any value you have have gained on your metals during a run-up by simply buying a put or three.

When you think maybe its time to sell some of your metal, buy a slv or gld put with a far far out expiration, keep your metal long, and book some put profits on the declines.


Plus, when you use SLV or GLD to protect your metals by using puts, you are positioned in the same direction that exposure of the fraud would cause, if/when that occurs.


Then buy some metal, new LED, or a keg of beer with your profits.

There are long and short metal "ponies" (2x or 3x derivitive tickers), and I don't mess with those either. Money hates me, and I act appropriately. I have no money in any WS accts anymore. Closed out a 401K last year and paid taxes on it, and that kept me from getting these $1200 stimilis checks that is fueling Robinhood. Money hates me, period.

So what. I could almost live out my days on just the sliver at the bottom of that pond...

At least now I have some jars of Kush... curing.

 

[gladysvjubb]

Will you please show us a picture of your crypto? If you drop one on your foot, does it hurt as much as a monster box of ASE's?

They are not a physical item. They are in everyone's who is participating computer or cell phone. It is an intangible item.

 

[gladysvjubb]

Holy crap. After 2.5 months of advertising, gold is finally starting to begrudgingly inch up. Gold 1,814.40 5:56AM EDT +4.50 +0.25%

 

[St. Phatty]

Outside Day Reversal ?

There will probably be a major sale of paper gold today, where someone sells 1/10 of a year's production in 15 minutes, for reasons that will probably not be disclosed.

If Gold Climbs back above $1800, that is what's known as an "Outside Day Reversal". at least that's what Harvey Organ calls it.

the ODR is supposed to very bullish.

However, the market is so manipulated that conventional terms like "bullish" seem to not apply.

Manipulated, because it is directly affected by the US Strong Dollar policy.

$Trillions of dollars flow every day in international currency markets.