 the 10 yr UST is down to where we were in 12/08. it screams deflation. who you gonna believe? |
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 note the increasing slope of the ascent lines. caution. this is how parabolic blowoffs pop. |
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I agree that it's a long-shot right now. Wall St. has more than enough assets to play with and manipulate, I don't think BTC is on their radar at this point. Then again, the BTC market is so small it really only takes one or two big investors.
actually i disagree that its not on their radar yet. i think they've entered the market already but are patiently accumulating. Ruxum is a big deal for BTC. they're professionals entering the merchant economy which will really help. derivatives for btc which will also be huge. |
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I still suspect that a day will come when all the holders of paper gold and paper silver will wake up and panic. The dwindling COMEX inventories seem to confirm that it is inevitable. On that day, all hell will break loose.
But I don't know if that day will come soon, or even really ever. People that underestimate the market's ability to outlast them get burned, even when they are right.
don't forget these papers were funded with debt based USD's. if the USD skyrockets they'll be forced to liquidate back to those same USD's which will plunge the gold/silver price. |
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@cypherdoc:
You are soooo right.
Gold will surprise almost everyone when it goes down hard against the USD. We have have seen already the top today (went short at 1766 $ today) . But even if not, it will start from a bit higher levels and still has huge downside.
Based on my chart analysis, 1300-1400 is the first target, but will fall soon to lead then to 1000-1100. And then we will see. If this does not hold, 600-800 are next.
ah, S3052 my favorite tech analyst! yes, i think this will be the short of a lifetime. |
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I agree that it's a long-shot right now. Wall St. has more than enough assets to play with and manipulate, I don't think BTC is on their radar at this point. Then again, the BTC market is so small it really only takes one or two big investors.
be patient, it will come and perhaps sooner than we all think. |
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yeah, no PPT here. just straight down. damn, i covered too many shorts too soon. to me the signal is "let it go down" b/c they have an objective. Yup looking at the futures and the Asian markets it looks like I may have covered too soon as well. I'm not going to beat myself up over it though, anyone short over the last week or two made out like bandits. I'm content with picking the low hanging fruit. Looks like covering was the right call afterall. I expect the market to rally further tomorrow maybe a little longer then back down. This wont' be a V-bottom. My guess is it won't be the downgrade but Europe that will weigh on the market short-term. Italy is out of cash by next month unless they have access to the funding markets. yeah Curb. i covered most everything last Th & Fri so i could've gained a little more. but after todays ramp, i don't feel so bad. |
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when i say long shot i mean in the very short term. but long term i am all in for the ride of a lifetime.
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Cyberhoc, well written, good points made here. My question though is what makes you think the investor now turns to btc? It just seems so "far out" to so many suits. I guess at some point it has to be recognized aye?
yeah, that a long shot altho i do think enough money will move in to increase the price esp. as the economy continues to develop. i expect perhaps a sharp increase around the time of the conference. those are usu good for some excitement. |
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on balance i did very well today with my ZSL pushing me way into the green. DZZ not so much but there was a pretty big selloff in gold at the end of day so we'll see. again, i see a parabolic blowoff on high volume which usually is a reversal sign. highest daily volume since 5/06! thats amazing and unsustainable IMO. USD didn't do anywhere near as well as i expected. TLT up mildly. the manipulations are rampant.
my gut feeling is that the shorts have rotated to the PM's. we'll see what happens tonite.
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i'd call the current gold chart esp. /YG parabolic.
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FOMC: Keep rates low until mid-2013.
Gold still trending upwards within its channel. Not buying or selling at this point, just holding on for the ride.
thats the smart move. i'm in to picking corners. |
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TLT 10 yr up again at 1.9%. argues for more deflation.
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/YG volume is now higher than at any time since May 06
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by the end of the day we'll probably exceed the daily volume of 9/08 in the /YG.
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added to DZZ.
FOMC should not say anything more about QE. gold should tank and USD do a moonshot.
if i'm wrong i'll admit it. no guts, no glory.
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miscreanity: you've already had your increasing ascent and blow off top as i look at the daily chart.
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at this rate we'll probably exceed the daily volume of the /YG for both 6/10 and 12/09.
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