The US consumer will continue to get replaced as long as their currency depreciates. When China, for instance, lets their currency appreciate at against the dollar, Chinese products will cost more for Americans and less for Chinese, and Americans will slowly be replaced as the dollar continues its depreciation. People need to realize the party in America is unsustainable and won't last forever.
You had a classic ABC correction in Gold and Silver and it was a healthy and necessary correction, the next wave, that has already begun, will take Gold back into the 1000oz. range. The Dollar Index was/is sliding into the Abyss. In just a few years has lost almost half of it's value. Picking up speed downward at the end of last week. Gold goes higher from here.
actually, our studies and information is indicating gold is headed back to the 800 range soon where it will consolidate for a bit, then when news of oversupply, etal hits, AG will drop down to the 600 area or below by 4.1. 2009. bottoms up socrates. regards surf <a href="http://tinypic.com" target="_blank"><img src="http://i25.tinypic.com/2aflqib.png" border="0" alt="Image and video hosting by TinyPic"></a> <a href="http://tinypic.com" target="_blank"><img src="http://i27.tinypic.com/a1205w.png" border="0" alt="Image and video hosting by TinyPic"></a>
http://ap.google.com/article/ALeqM5iMjQm_fT4NAZcLuNryMIGP39-nBAD90FPM3G0 "...The central bank last week announced new steps to aid with tight credit conditions by increasing the size of cash auctions to banks and allowing financial institutions to put up credit card debt, student loans and car loans as collateral for Fed loans..."
Surf's up brother..... Yes I know that your big swinging dick here on ET but I am getting long gold in here at the 865 to 850 area and will leg into my puts at 845 when filled on longs and will sell some calls in June when gold hits 900 later in late MAY. My trade idea that this 850 level in June gold will hold if the currenecy complex goes back to hammering the dollar down where it belongs. If the dollar does move up above resistance than this idea is not as strong and will need to help. At that level I will accept my loss and wait for a new set up. We can see it above 950 later in June. Thats my game plan and Jim Sinclare is not a piker who would answer or promote his stuff here but he will put his money against your and see who has the better game plan. Been reading him for the last 3-4 years and he is often right more times than he is not and he is a longer term trader and not playing for the next 30 handles. Good short off the top of the century move but its not what you make but what you keep. Good luck to you and your systems. I hope this turns into one of your short oil predictions. The markets are here to humble us all when we need it.
GC at 920 with in a week period from 860 is a move we like to see.......60 points is not bad price action and inflation coming back into play here. Surf...... look like you got pounding inside at Pipeline with this markets.....better call for the jet ski and sled to rush in and do an extraction before you drown. I hope you can hold your breath for more than the average surfer.
who are all these hustlers selling gold? if it was any good they'd keep it for themselves. case closed
thanks for the analysis. these are simply mere gyrations prior to the next wave of selling. best wishes, surf