You've Got To Be Kidding Me

A discussion on gold, silver, and the markets.

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Location: Freehold, NJ, United States

Married with two children and one toy poodle which was not my first choice but I like her anyway. Been on the Street since 1989, mostly as a retail broker.

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Wednesday, March 19, 2008

What is there to say.....

They won, like always. To give you an idea how much this is all contrived bullshit, after the Fed cut rates, gold was down $7, but managed to climb back to the flat line and was even up a few dollars before the carnage began. So you tell me if this is an operation.

All you need to know about this crap, you can find at www.jsmineset.com. Jim and Dan have done a great job describing what is currently happening.


Some random thoughts.....

No matter what you hear, gold was not down $60 today. Yesterday after the announcement, gold was down $25 and today it was down $38.

Everybody, and I mean everybody is tap dancing on gold's grave, calling yet another top; but this time they really mean it. This is very bullish.

The Fast Money guys were orgasmic in their glee over the decline.

Dennis Gartman said gold could fall to $850 as that is where the next level of support is. Uh....wrong dumbass!!! $920 is where the 50 day moving average lays.

The gold stocks just got absolutely decimated. The HUI/AU ratio is below .2 and historically the stocks rally from there. (The HUI is off more than 10% in two days!!!)

The sharpest declines happen in a bull market.

And, the most important random of them all: ALL ROADS POINT TO GOLD!!!!!!!!!!!!

1 Comments:

Blogger Matt said...

Just discovered the blog, and I love it. Keep it up! I agree - the only thing the last few days has proven to me is that NOW is the opportunity to buy more gold!!

8:27 PM  

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