Wow

Definately some disconnects all over re Currencies and Gold

This is getting Interesting

as Mr Yen points out The Yen has been dropping hard but Gold has not…since Nov 7

Matrix said the key would be the Swiss frank as IF the Swiss vote yes to the gold

referendum the frank would strengthen and so would gold

also of course Gold goes dow with the euro ..usually

Well…this morning Draghi must have said something euro negative

The Swiss frank and euro are tanking hard but Gold is going UP !

That is a huge disconnect so far…just one day BUT !

Also note the Aussie Dollar (commodity currency) is up very strongly today

I think this usually means China is reporting good economic expansion

so maybe gold is trading off of that !!

Sheesh….this is incredibly wild right now

Glad I am flat

Daneric’s Elliott Waves

He thinks that gold bottomed as well.Gold (3)

No Charts – Just Audio

http://www.elliottwave.com/freeupdates/archives/2014/11/18/(Interview,-516-min.)-Gold-We-ve-Got-a-High-Confidence-Forecast.aspx#axzz3JfkkNB00

GDXJ RESISTANCE LINE…

JDST

When Matrix speaks some listen

Those that do improve their trading

Matrix did a 3 week spot here at Goldtent and was a huge hit… here is his page

http://matrix.goldtadise.com/

He just recently retired from active trading but he keeps in touch with his friend Mr Yen
( also a retired Currency Trader… named aptly apparently)

Spoke with Mr Yen today, gold has decoupled from $YEN since Nov 7th for what ever reason, focus of trend should be off Swiss Franc…….we are not going to hold any positions heading into the Swiss gold vote after this Wed reaction to the polls as we’ll let the Hedge funds go nuts and show us the trend in play after the smoke clears…..still holding long HGU and SLW from the 10th waiting for Draghi’s Germany speech this Fri and next weeks US GDP data

CHEER$

Matrix
……………….

PS Rumour has it Mr Yen has a real honest target eventually of 666 Gold

wouldnt that be something !

That would bring back the conspiracy theorist in me !!

Fully

Yen the playbook is in jeopardy

http://scharts.co/1yvwJwM

wha happened?

pu 2?

http://scharts.co/1qwiv8E

NG Longterm Chart…

NG

Tothemoon…

ugaz

Negative Divergence building on CCI and RSI. See the gap. Possible entry to go long…

Bubble rankings

interesting

http://www.sharelynx.com/chartstemp/BubbleComparisonsRankings.php

wonder what the share certs are worth ….G..

http://www.sharelynx.com/chartstemp/BubbleComparisonBRE-X.php

parabolic was when gold went up 120% in 36 trading days.. wow. maybe this could never happen in todays world.

http://www.sharelynx.com/chartstemp/BubbleComparisonsFutures.php

GDXJ Volume

Second largest on record today

gdxj

GDX too (If I wanted a backtest I’d go to a Chiropractor)

gdx

BIG CONNUNDRUM

All 4 Horsmen and Rider running north BUT all 4 Moving Averages Riding South

Trader Dan

Had Enough of Roller Coaster Rides Yet?

My kids love to ride those wickedly wild roller coasters, the kind that leave your stomach suspended in mid-air at the top of the track while the cart is already down at the bottom of the valley. Every now and then, against my better judgment, I will let them twist my arm enough to strap myself into one of those things just so that I can inflict on myself the same punishment that they seem to delight in inflicting on themselves.

There was one coaster we went to where they had a camera set up with a strobe light that snapped your picture as your cart went past it on a particularly treacherous portion of the ride. I recall looking through those when we finished the ride and were lingering around at the customer staging area to see what the expression on my face was out of sheer curiosity. Yep – it looked like I was the victim of one of those infamous native American Indians, the Apaches, torture of their white eye prisoners.

After watching the doings in gold and silver this AM, I could wear my kids somehow strapped me back into one of those infernal roller coasters!

Look at the Gold Volatility Index and tell me how anyone in their right mind can try to trade this stuff at the moment? I have heard of “day-traders”. Hey, that is long term – try “15 second interval traders” for the new kids on the block!

As I have said just recently – if this keeps up much longer in the precious metals, look for margin requirement hikes very soon…. Small traders – I STRONGLY URGE you to be very, very careful in here. I do not care whether you are bullish or bearish. Betting the farm on a move either way is akin to hari-kari. Want to end any fledgling trading career you might have? Then go ahead and “Bet the Farm”, or “Load the Truck” or whatever. Don’t complain when they carry you out.

Let the volatility die down some if you want to trade large. By the way – ignore ALL NEWSLETTER WRITERS RIGHT NOW. Not a single one of them have the least clue as to which way this thing is going to go. Roll the dice and you have as much chance of getting it right.

Option guys – take notice once again!

FGC This is for you…

bells

Dow gold

at channel top and reversing?

http://scharts.co/1ynZwU1

SPX 30 Running out of steam…

SPX 30

Some Pretty Amazing Charts from Sir Parabolic Chick at the Chartology Forum

who says Ta doesn’t work ?

Chuck is up over 100% in just a year and a half

and he was a rank beginner when he joined up

……………………………

I sold finally and rebought close to $14 JDST today. Oh well. Seems low risk here for me. I will sell it though if we go just a LITTLE bit higher. The GDXJ double top trendline and the XAU backtest are going to be the two things that could get me to sell and sit… Be watching those close tomorrow…

Here’s some charts:

chart1

chart2

chart3

chart4

chart5

chart6

chart7

chart8

chart9

chart10

chart11

chart12

chart13

Trader Dan

Gold Taking Cues from Forex Market Movements

Take a look at the following chart comparing the price of the Euro ( in BLACK ) to the price of Gold ( in YELLOW).

During December of last year, and January of this year, the linkage broke down but beginning in February the two have moved in almost perfect lockstep with one another. The connection has been especially tight since this past summer.

The take away from this is rather simple at this point – Tell me what the Euro is going to do next and I will tell you with relative confidence what gold will do.

This morning there was news out of Germany that their ZEW index, a measure of economic confidence, rose in the month of November, the first time it has done so in a year. That produced a big impact in the Euro which completely erased its losses from yesterday ( do you ever get the feeling we are trading yo-yo’s and not real markets?) and then added some for good measure. Back down went the Dollar and what do you think gold did? Yep – it moved higher.

The point in all this is that gold is completely at the mercy of developments occurring in the Foreign exchange markets at the moment. There is still widespread weakness across the commodity sector with crude and the grains move lower today.

I should also note that it looks to me like there is a line of thinking that continues to be seen out there which is regarding the sharp selloff in the crude oil and liquid energy markets as STIMULATIVE IN NATURE for the global economy. It is not the majority view but it is out there nonetheless.

Thus far the sell off in crude has fed into the deflationary/slowing global growth scenario. This scenario is NOT BULLISH FOR GOLD OR SILVER. I cannot say this strongly enough.

I have said it before and will say it again and again – my inbox is filled with articles from gold and silver perma bulls constantly finding fault with the US economic performance as they focus on this negative aspect of a set of economic data or that negative aspect. I have yet to find ONE article sent by any of them noting anything positive about the global economy, anywhere. It is all uniformly negative. Yet, they turn around in the very same breath and announce how bullish this is for gold and silver prices? Excuse me – but what in the world do they think has been has happening to gold and silver prices over the last three years, and in particular, the last two years?

SLOW GLOBAL ECONOMIC GROWTH IS NOT BULLISH FOR PRECIOUS METALS PRICES. It is that simple. They need growth, lots of it. The kind of growth which sends the Velocity of Money rising and kicks up inflation worries. That has not been present and as a result, metals prices have been sinking lower. It has nothing to do with some supposed manipulation of the prices of the metals by bullion banks acting as agents of the Fed and everything to do with deflationary fears and a strong US Dollar.

Today we got a bit of a glimpse what might happen to metals prices if the Central Bank efforts to produce an inflation rate of 2% might actually be successful. Notice the very sharp response in the Euro to that improved economic confidence reading!

I would suggest to gold and silver perma bulls that they stop dissing US economic data and actually start rooting for solid growth prospects, not just here, but globally if they wish to see their metals run higher for more than a short period of time.

Just a head’s up – along that line, we are going to get some fundamental type news this week.

Gold managed to briefly change the handle from “11” to “12” but it has not lasted very long. Mining shares are still strong at this hour however, so the bull’s prospects are improving. They will however have to face the FOMC minutes and see whether or not they can weather any potential impact from those.

The HUI chart looks quite strong at the moment, exactly what one wants to see if they want gold prices to move higher. Notice that the index has closed another downside gap and is actually trading above that gap at the moment. That is very bullish price action!

The index is essentially attempting to work its way back to the downside breakout point made in early October. I have noted that area as “BIG TEST”. If this is something more than a bounce in the ongoing bearish trend, albeit a very strong bounce, the index will have to push past this zone and CLOSE ABOVE IT.

If it were able to do this, gold should easily regain a “12” handle and one can say that a more lasting bottom is in this market. If it fails to do that, and retreats lower back down below that gap, that will signal a period of sideways movement in price or what we refer to as consolidation. Stay tuned.

By the way, those of you who want to do so, might wish a Happy Birthday to GLD. It was exactly TEN YEARS ago that it opened up and began trading. There was a note on the wire services that in its first three days of trading, it took in more than $1 billion!

Someone Please Ring the bell at the Top

gdx

GOLD

Could go to 1210 and still be beneath the 50 MA. Watching………………..

Drama Baby

http://www.gunner24.com/newsletter-archive/november-2014/16112014/

Regardless of the route…this bear market in the PMs is not over…

Megaphone Bottom?

haven’t seen the concept anywhere, would be bizarre if so.

http://scharts.co/1xznE93

Brought the “shark” out too soon…futures indicate a jump the line this am…

Fairly simple,

usually pretty good analysis without hype either way

http://ceo.ca/2014/11/17/important-day-for-gold-miners-the-only-chart-you-need/

I Smell Blood…

shark

Use the 13/34 MA Cross on the 60 Min. as SOLID Confirmation…

GLD closing right below the resistance of 115.00…

gld

GDX

gdx daily

Referring to SM…

Two words I havent used in a while…”All In” short. Stay tuned.

HEADS UP!!

GDX 15

Eaglesaegle ..what you tink ?

hui

UGAZ–last chance to get in before winter?

ugaz