Goldtent TA Paradise

GLD and Iran seem Co Related

1. Alfa8 says:

   January 8, 2020 - 4:49 pm at 4:49 pm

   Well, OK. Forget that pair….

   Jack be nimble,
   Jack be quick,
   Jack jump over
   The candlestick.

   … and on to SPY and QQQ.

   • Alfa8 says:

     January 8, 2020 - 9:31 pm at 9:31 pm

     Nothing wrong with a little fun… after waiting interminably for the paint to dry. So when the next turn comes, be forewarned, another Jack might pop out of the box:

     But it’s all right now, in fact, it’s a gas
     But it’s all right, I’m Jumpin’ Jack Flash

2. Karl says:

   January 8, 2020 - 5:23 pm at 5:23 pm

   Short term thinking. Reactivity. Missing the forest for a shrub or two.

   Or so I think, on both counts -> Au prices and Iran gov’t vs US gov’t.

   And unfortunately so. I’d much rather have peace than some relative personal penury.

   (Also, I don’t think any persisting move in gold prices is likely to be welded to any short-term news item — it’s good to get the worry-wart day-to-day drama-queen personality type buyers out of the market, as well as any AI distant cousins they might have).

   • Karl says:

     January 8, 2020 - 5:53 pm at 5:53 pm

     As for the rocket picture–

     First, the disclaimer: I’ve gotten so I do not trust or really like any site (other than of course this one). Nevertheless–

     From going through different sites I have the strong impression that, as has been asserted, the Iranian missiles — unlike the one in the image employed precise targeting. If (and I am far from an expert, and I trust nothing and urge everyone to distrust everything) my tentative understanding is correct, they came within 10m of their targets and in fact were reported to have sometimes hit nearly exactly the center of apparent intended sites. They did not carry payloads as dangerous as their payloads could have been if massive damage had been desired.

     The U.S. is not exactly an incompetent paper tiger when it comes to ability to destroy for that matter either, nor are other entities in the region (Turkey, Israel).

     I could go on, but the Iranian rockets probably were a bit different in their courses than the one depicted in our image here.

     The event hints at what could have occurred — or could occur any time. It would be bad enough if it were to wreak financial havoc. It would be worse if it harmed many people in nearby countries, whether people we know personally or only in the abstract.

     I don’t think that these missiles were some E-Muskish projectile that went goofy.

   • Alfa8 says:

     January 8, 2020 - 6:18 pm at 6:18 pm

     Short-term thinking, guilty. But nevertheless, cha-ching, cha-ching.

     Full, perhaps a Side-Show Tent for the short-term traders? I feel like a freak show today.

     • Karl says:

       January 8, 2020 - 7:06 pm at 7:06 pm

       My own opinion is that short-term trading is wonderful for those who can do it, and that I perhaps should be doing it more. I’d love reading about it more.

       Perhaps a more opportunistic approach to the precious metals markets would be better here, very much including celebrating successes in taking advantage by shorting extremely short-term over-bought conditions. True, I personally think that shorting in what I think is a market that is trending upwards is especially risky, but it can be enjoyable and profitable for the clever or lucky — and certainly interesting.

       Perhaps it’s just me, but I find it a bit tedious at times to see only the same longer-term assumption, post after post from person after person that one has to want gold stocks to go up coupled to emotional reactions about day-to-day or hour-to-hour events or market movements, especially negative emotions. If people want to focus on the short-term more, maybe they should, but in a more intellectual and less emotional way, and trade the short-term rather than wring hands, oh me oh my, or jump up and down … or comment on why the market is too indeterminate to trade.

       • Alfa8 says:

         January 8, 2020 - 8:47 pm at 8:47 pm

         Shorting the PMs? That I cannot do!! It’s heresy. I have no problem shorting S&P on occasion (but not now!).

         I second the first part of your last paragraph. And have often wondered just how many times the same chart and prediction needs to be tweaked and updated, or just plain repeated?

         But I don’t see much in the way of short-term trading comments here, especially the kind you describe. Other sites I’ve seen do nothing but hand-wring all day, all year. But thankfully, there’s none of that here.

3. red label says:

   January 8, 2020 - 8:34 pm at 8:34 pm

   The DXY seems to think this is over lol…..not likely.

   Luckily I dumped a few BM miners recently simply based on jurisdiction (Mongolia & Turkey) my draw down was luckily cut in half today.

   IMO calm before the storm or the US can ki$$ the Petrodollar goodbye. Don’t think Uncle Sam is just gonna roll over here…..
   Iran hasn’t caved in the last 40 yrs & neither has China or Russia………

   • Karl says:

     January 9, 2020 - 6:58 am at 6:58 am

     One interesting thing is how oil prices might affect mining costs and thus, indirectly, the stock prices of mining companies.