OK Huddle up .
Lots of Fear and Greed in the PM Market . And Lots of Confusion in ALL markets really
We in this Community who gather here to decifer / trade the Precious Metals Markets , are from diverse backgrounds and from all around the Planet.
However most of us have one thing in common . We are Either Goldbugs or at the least believe Gold is going to Appreciate in Value a great deal at some point when the Financial Sh!t Hits the fan .
Many members have battle scars and are hardened veterans of Gold . Having Basked in the wonderful and easy profits of the great PM Bull Market of the Golden Decade ( the fist decade of the new millennium). An then having Suffered in the recent , perhaps ongoing ,half decade Bear Market from Hell , we have earned our stripes.
Some even lived through the 20 year crushing bear market which followed the previous Golden Decade , the 1970s
Some have watched basically every tick in the price of gold almost 24/7 for as long as the internet has been in existence.
Most are still convinced of the manipulation Story. Some have come to understand all markets have been and always will be manipulated to some degree and it is best to ignore this if one wants to make money trading .
Manipulation is a very emotional subject around PMs. This is one guys experience with it.
I was a charted member of Lemetropole Café and basically for 13 years…1999 to 2012 read everything Bill Murphy and friends wrote and believed 100% of it..anybody who challenged this thinking was an idiot IMO. I had lots of battles with the idiots . I was a militant Goldbug at this very url for many years and had many good friends in that camp.
We were crushed in the 08 Crash…lost 80% of the great portfolio I had built up in the Go Go years and I fought the Bears ( including Rambus) all the way down .
Then one day after the incredible V bounce that bailed us out in 2009 2010 I had an epiphany…”Like who is the Idiot here ?”…IF Gold is manipulated by the Most Powerful people on the Planet why are we all buying it and its derivitives ?
Shouldn’t we be shorting it ? Shouldn’t we be tagging along with the Evil Banksters
So after being fortunate enough to hook up with my friend Rambus and more recently my new friend Trader Dan
I learned the Market can be read via Technical Analysis and trends could be identified and money could be made from both sides of a market…DUH !
And that Gold doesn’t ALWAYS go up even if I think it should. And that even if there are manipulations by the Powerful at times , they are all in the Charts. Charts are the sum total of every fundamental , manipulation , sentiment, seasonal , cycles . All the information is there for us to decipher
What I have observed here of late is the passion we all have for PMs and the excitement that for the first time in 5 years we have perhaps a glimmer of hope that the Bottomz Inn .
The jury is still is out of course as Plunger so succinctly pointed out . A Higher Low followed by a higher high is needed to confirm . BUT after numerous deceiving Bear Market Rallies there has been good evidence presented here that indeed the bottom may very well be behind us. If nothing else we have had strong fast gains here.
Some have been on this market early and are nervous of loosing their great gains yet again
Some have hesitated and are waiting for a pull back but are frustrated and anxiously wanting in .
Some are not yet convinced and will wait for lower lows…sub $1000. But still must be impressed with PMs
SOME ARE BUYING INTO THE MARKET FOR THE FIRST TIME IN ANTICIPATION OF EASY RICHES.
At any rate WHEREVER YOU ARE COMMING FROM WE ARE ALL IN THIS TOGETHER SO lets remain civil and respectful to each other here as all sides are examined. None of us really know for sure where we are in this market. All I can advise is go with what you believe.
I believe the Bottom was 1045 Gold and that we will make a higher low somewhere between here and there.
Followed by a higher High.
I believe Junior Miners which have dropped 90% plus but are still alive offer the chance for life changing gains over the next few years .
I believe that the Manipulation Question is antithesis to being able to rationally make trading decisions as it taints you with an emotional outlook which screws with your timing.
I believe in TA !
What do you believe >?