7 thoughts on “October 2013

  1. I can’t show this weekly chart, but Barchart.com futures gives commitment of traders on Gold futures. It is noteworthy that the large spec trend line, down now for twelve months, has recently turned up and clearly broken across its down slope. Also, large commercials (producers) have begun dumping their shorts. A big up move pending, despite its torturous basing action.

    Studying spx futures shows the reverse action. A sell off is imminent/

  2. Is there much relevance placed on people who think that gold could go to $650 when it half what it costs to mine an ounce of gold?

    Or is this purely “technical” ie if the chart says so, silver and gold are headed towards $1 over the long run.

    Ie What happens to Apple when Iphone’s only sell for half what they cost?

    • I don’t focus on how much it costs to mine gold since it’s very subjective and varies from mine to mine tremendously.

      AAPL’s cost of the iPhone is basically fixed.

      Gold and silver will never sell for $1.

      I have no idea if gold will fall to $650.

      All I know is gold must hold the $1,300 are or risk a drop to $1,175 or so.

      If you think gold will fall that much then ignore it and focus on something that WILL make you money.

      Warren

  3. Contrary to popular believe Gold does not rise with inflation but rather the rise of economic unstability and fear. It is not a hedge against inflation.

    Therefore I think the metals will keep declining for as long as the governments and lamestream media can keep up the false believe all will turn out fine, there beeing no real fundametal problem. Which ofcours there is.

    Going from memmory 2015.75 is the time frame for a bullisch reversal according to Martin Armstrong. A chap I,ve come to respect. He sees a possible low of 650.

    Untill that time we Wizzen Trading helps me choose great money makers other than gold and silver. Ofcourse I hope beyond these times. But for now prescious metals are Kings and Queens of drama.

    • Good eye! I just didn’t see it, plain and simple.
      If it does play out we can expect a move to the $1,175 are though which could set us up for a nice double bottom on the weekly an monthly charts.
      Very nice job spotting that.
      Warren

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