Loading ...Armstrong has Flipped (his Lid )
Sorry if I offend Armstrongophiles but this takes the cake
http://www.armstrongeconomics.com/archives/40991
This is the most useless trading information I have seen …And I have see a LOT of useless information
WTF ? Gold wont be on a sell signal unless it drops below $680? So Hold until then and then sell ! ?
Well thanks a lot
If this then that but if that then this ….Can’t be wrong ….right ?
I have given this “Guru” and his Hal Pal Computer Program the benefit of the doubt …but now its 100% doubt with this guy
There is a Cult which has grown up around Armstrong as he pumps himself and his movie and his Know ALL Computor.
Tens of thousands of worshipers hang on his every word . But No one really knows what he is saying .
There are websites dedicated to trying to interpret what he is saying in his cryptic postings and with his arrays
and “elections” and “benchmarks”
IMO fogettaboutit …Seriously ..Anybody understand what he just SAID IN THIS POST ?
SHEESH ! About as useful as that Chropractor guy what’s his name ?
Another Fallen Gold Guru
First Sinclair and dozens of others and Now Et Tu Armstrong !
Amen, Fully! I guess there’s a reason this guy had his issues in the past. He’s back at it! Buyer/reader beware.
I read the guy for entertainment purposes more than anything because everything he talks about is now being taxed and stopped at airports and having things confiscated. What he is saying with the 680 number if I understand his model correctly is that 680 is THE FIRST BEARISH WEEKLY REVERSAL. If it is elected, the long term bull market in gold that began at the beginning of this millennia is over.
Cash – if that’s what he really means to say, that’s pretty lame from either a trading or investing standpoint. To put it mildly.
Most bulls were looking for the 1520 area (IIRC) to hold in April 2013, and when it didn’t that signaled failure to most observers.
There’s no doubt in my mind that the impulsive run from 2000 is over. We’ve retraced 890 of the 1680 dollar gain. That’s beyond the 50% fib retrace, although the 63% remains intact for now.
My take is that the larger impulsive run from 1970 is also over. Plunger takes that view as well.
If your tools aren’t at least EXPLORING that question, then get new tools.
At very least, taking out the 2008 high near $1000 should extinguish most technical bulls. Silver is well beneath that landmark already.
I totally agree with Fully’s sentiment and assessment of the latest MA post, although some other TA members may have different insights or views on MA’s forecasting abilities. He’s been incredibly wrong in the past. For example, MA was the same guy calling for $200 gold in 2000 and he called for a directional change in September 2014 & 2015. I just wonder what his real agenda is. I purchased his $400 PM Outlook and found it to be totally useless for trading purposes. I looked at his recommendations and I’ll be candid, his matrix seems to predict up, down and sideways at the same time. I think MA’s computer is throwing darts. I admire his range of knowledge but I don’t see his forecast as being any better than tossing a coin. I’ve pasted some of MA’s excerpts below that go back several months and let others decide for themselves. Lastly, I believe TA members are the best at nailing the trades than almost any subscription service out there and TA’s free site is a great place to share and learn a lot.
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The two below MA Post links show a dollar amount that has changed to a lower value by approximately $140 vs. what was published in his 9/19/15 2015 PM Outlook for a 2015 yearly closing.
http://www.armstrongeconomics.com/armstrong_economics_blog/page/2
Gold for year-end has a number 1044.50. If we close BELOW this next Wednesday on December 31st. This is a question of if we close above this does not provide a buy signal nor does it avoid a sell signal. The only sell signal is way down at $680. A close beneath 1044.50 will suggest short-term immediate weakness, whereas a close above keeps the torture process in motion
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http://www.armstrongeconomics.com/archives/39611
If gold closes below the 1043 level at year end, you can bet on new lows next year in 2016. We will most likely see a real surge in the dollar yet with the Euro collapsing. So pay attention also to the year-end closing for the Euro. If that is under 10365, the dollar surge is underway.
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http://www.armstrongeconomics.com/archives/37416
Gold rose in purchasing power between 1929 and 1932 simply because it was MONEY at that time. Gold declined with every dollar rally when it was NOT MONEY and just a commodity, yet it rallied when there was a risk of banks failing — not QE1-3. This clearly illustrates what the “safe haven” really is. Gold WILL RISE along with stocks and commodities against whatever is money. The “safe have” will return ONLY when the public questions the survivability of banks and government — not fiat and inflation. Gold cannot possibly react as it did between 1929 and 1932 against everything else because it is not MONEY, nor the unit of account or the medium of exchange. So get over it. It will be time to buy gold for the right reason — not for fiat or this hatred of the dollar.
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http://www.armstrongeconomics.com/archives/29974
The traditional mumbo jumbo is dollar up, gold down. However, we may be entering a completely new phase. Gold and the dollar may no longer be archenemies. They are actually now moving to the same side of the fence, for the common enemy is the rapidly approaching electronic money, with so many analysts at banks now calling to abolishing paper money. What is interesting is that paper money places a check and balance against central banks from moving deep into negative interest rates. At some point, more and more people will just withdraw their cash and hoard it, which has already begun.
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https://www.vetr.com/posts/5897310288-GATA-And-Martin-Armstrong-Have-Gone-At-It-For-Nearly-17-Years
Now, since you don’t want to read a book, here are some key points of interest over the years…
*From a Martin Armstrong email to my colleague Chris Powell…
May 14, 1999
Dear Chris:
I understand your frustration that gold has been perhaps the worst investment for the past 20 years. But to argue that it is being manipulated due to large short positions is not justified.
I hate to tell you, but gold will drop to under $200 before it turns…***
As you know now, gold never came close to taking out $200.
Fully, I couldn’t help but laugh when I read it his newest gold blog post haha ….it is soooo obvious he wrote it in plain English, then rewrote it to try to be purposefully cryptic to garner more hits on the websites who try to figure him out haha (like this website hmm haha) OR, he is trying to reassure himself of his own trading plan and was thinking aloud while typing, then posted it bc he realized it was sufficiently confusing to be worthy of a gold update haha ….So, since I think it’s a combo of those two things I will give what I think he means: To my beloved gold bugs, Let me share with you my current trading plan for gold, as I look at the big picture, since we are closing out yet another trading year. I think gold is going to rocket higher over the next few years in a final bull run as the world goes to pot, and then gold will peak out and be utterly destroyed/useless due to the powers behind the curtains and also simply bc it’s nearing archaic museum status, but for now let’s make some big$ on its final run to 5,000 an ounce. I am a buyer on dips so long as gold stays above $680. Ideally we buy as close to that number as possible to avoid draw-down, but timing is more important than price, so I’m trying to figure out how low we can to so I can add to my long positions before the rocket ship ride. I don’t think we’ve seen the lows yet, and I don’t have much confident in the most recent early Dec benchmark date for the final low bc we only hit $1044, soooo if we close the year below 1044 we should drop big time going into March (will only short rallies till March, or buy on dips) and I’ll buy big for the rocket ship ride in either March OR at sub1000 targets depending on whichever comes first. …now I seriously thought gold was gonna be below 1000 by now, but it hasn’t and it’s strength is seriously confusing me along with some other markets, soooo maybe we need to focus more on the weekly array turning points instead of trying to get sub1000—I don’t know what to say if we don’t below 1044 at end of year closing in /gc..I mean, if we are above 1044 either gold is much stronger than i thought, and we won’t hit the low numbers to buy, or we are getting a bottoming bowl shape in gold instead of the flash crash I’ve been expecting, and if it’s a bottoming bowl this bottoming process could drap out for another year, or even until 2017 and it makes a double bottom in 2017(by the way, when I say things like “split high causing reactionary intraday lows and closing lows” mumbo jumbo, welll that equates to code speak for “since we double topped around $1900 maybe we will double bottom as well..like a low for March 2016 and another low to double bottom in March 2017”) …so fans, this is my trading plan for now. Now you see why 1044 is so important to me bc without it I may need to whip up a diff strategy.
You Don’t need Armstrong and Hal to tell you all of the above .
You are still trying to figure him out…just in case he show he was useful in hindsight .
Personally I am putting any calls and trading advice from him in the trash can .