Gold collapsing. Bitcoin UP.

[SkRRJyTC]

tsk, tsk.

boots and cats and boots and cats and boom boom tsk boom boom tsk

[cypherdoc]

$TRIN spike.

[cypherdoc]

Apple's making a break for the door.

[cypherdoc]

as subtle a down day as today was in stocks, this was extremely bearish IMO.

to be sold off like that in the last 10 min is a typical move by the professionals who usually don't trade until the last 2h.

pm's are at severe risk right here as they are just following stocks.  if AAPL bites the bullet like is imminent, you'll get a severe downdraft in the metals.

edit:  my triple lever bear etf's are soaring in AH's right now.  look out.

[S3052]

Apple indeed confirmed the bearish hanging man from yesterday in the end. Once many people want to exit Apple and stock market longs, the door is narrow, and many won't get out before we are down a LOT.

[cypherdoc]

http://www.zerohedge.com/news/dumb-money-refuses-be-dumb-money-yet-another-week

this is why i don't fear a stock mkt crash.  the only ones left to lose everything are the "smart money" who are all in long.

in fact, i would welcome a crash to clean these boys out once and for all.

[silverbox]

Really need a 2nd down day for a solid confirm imo.  That was a pretty anemic confirm

[cypherdoc]

did u guys see that?

just the last few minutes the Dow, oil, gold, and silver futures took a dump straight down.  of course the $DXY went straight up.  something must've happened in Europe.  anyone hear anything?  i don't know.

tomorrow will be REAL interesting.

[cypherdoc]

ok, it was the Chinese PMI:

Chinese PMI as tracked by HSBC/Market (not to be confused with the other PMI, tracked by China itself, which will likely show expansion, like last month), came and printed at 48.1, down from 49.6, and representing a 5th consecutive monthly contraction for the Chinese economy.

normally the mkt wouldn't react to negative news like this.  however, if we've topped, as i think we might have, all rips on negative or positive news should be met with selling/shorting.

[SkRRJyTC]

Really need a 2nd down day for a solid confirm imo.  That was a pretty anemic confirm

I think we are going to get one...

Im going to have to eat my words today I think

[cypherdoc]

oh my.

[cypherdoc]

[N12]

You will probably have to change the thread title.

Gold collapsing. Bitcoin collapsing.

[cypherdoc]

You will probably have to change the thread title.

Gold collapsing. Bitcoin collapsing.

i disagree.  Bitcoin is holding well.  not surprising if you listen to this podcast for the deflationary case and why pm's are a problem:

http://www.extraenvironmentalist.com/episode-38-hard-times/

[silverbox]

this thread was started 3/13

Bitcoin  5.40

Gold 1690.


today 3/22

Bitcoin 4.77   (down ~12%)

Gold 1640  (down ~3%)


Which one is "Collapsing"

 

[N12]

cypher, I’ll listen to this podcast now, thanks.

this thread was started 3/13

Bitcoin  5.40

Gold 1690.


today 3/22

Bitcoin 4.77   (down ~12%)

Gold 1640  (down ~3%)


Which one is "Collapsing"

 

Sorry, let me reiterate:

Gold collapsing. Bitcoin collapsing more quickly.

[cypherdoc]

this thread was started 3/13

Bitcoin  5.40

Gold 1690.


today 3/22

Bitcoin 4.77   (down ~12%)

Gold 1640  (down ~3%)


Which one is "Collapsing"

 

silver down 8%.

my predictions apply to the intermediate/long term.

[silverbox]

Yeah silver is taking it in the shorts, buying oppurtunity!!!  

[SkRRJyTC]

Yeah silver is taking it in the shorts, buying oppurtunity!!!  

I want some silver too... but let it get down into the 20's first.

[cypherdoc]

do you guys realize just how inane the gold/silver argument has become?  one year ago:

1.  of course the miners are up; they represent leveraged plays on the gold price and why wouldn't you want to own ounces in the ground.  its free money.
2.  of course GLD/SLV are up.  even though its paper gold, they allow the avg investor to own gold with just a click of the button.
3.  the official price is up.  of course it is dummy, the price is rising and just reflects the devaluing USD.

now:

1.  of course the miners are down; all they represent is paper gold.  they don't provide any value since you are subject to poor management and expense costs due to energy expenses.
2.  of course GLD/SLV are down; they're just paper gold in baskets.  they really don't have any gold in their vaults.
3.  of course the official price is down.  in fact, who cares if it crashes?  what REALLY matters is the street price plus the huge premium that will overall add up to over $2400 in value and much higher.

that last one is really insane.   when i cashed out my pm's last yr the coin dealer checked his computer screen on Kitco and offered me the official price minus 4%.  i then received a 1099 last month on the cash i received on which i will have to pay ordinary income taxes on, not capital gains.  truly sucks.  the illiquidity of pm's is a big problem as well.