GOLD to 1000 (again) soon

looks like gold could be primed for a move thru 1000 in the next few weeks....

The dollar is falling and nearing a key level of support around *83* should the dollar fall thru this support ...........GOLD will act as counter balancing weight and lift up

Another note is that the more B.S the public buys about a recovery will be negative for the dollar (IMO) and put more pressure down on the dollar and up on GOLD...at least IMO

quotes.ino.com... look at the low in Mid march....that is currently the key level for the dollar short term movement.....will the 83 level offer support of will the dollar push thru on the way down to say...stronger support at 79-80 .........further down there is support at 76 and then finally 72...........but i don't see that being reached...........

quotes.ino.com...

getting closer down to 83.59

and damn stock are soaring in pre market trading mostly on unemployment numbers that look better

83 is not support on that graph.

In fact currencies don't even have support/ resistance levels.

Originally posted by 44soulslayer
83 is not support on that graph.

In fact currencies don't even have support/ resistance levels.

think twice B4 you post disinfo...even if it is ignorance

your telling me the Gigantic forex market that trades over a 3TRILLION a day in currency's does not have support/ resistance levels like stocks, bonds etc which traders use.....c'mon!

and ya i don't want to come off 2 harsh......but this is a no-brainer

and 83 is support then 79-80 76 then 72

What would make you say such a thing?????





[edit on 8-5-2009 by cpdaman]

[edit on 8-5-2009 by cpdaman]

reply to post by cpdaman


Please show me a single proper forex graph with support and resistance.

the bad thing about gold getting priced over $1,000

is that the major Gold producers & mining operations,
will become the targets for renegade terrorosts/opportunistic land pirates/ inspired gangs on the hunt for caches of riches.


the cost for protecting the mined precious metals will skyrocket !
thus causing the price of overall 'production' to escelate to the
$2k oz. range ~like-it-or-not~

imho, the cost of 'Risk' will match the actual production cost of mining the gold...
the fiat money valuation of gold is so out of synch
the only rationale will be for 'Risk' to make up the gross under valuation...
The bankers & globalist money planners will thank me for presenting
them with this roadmap to save their fiat-money mirage

Gold moved up slowly this week but silver moved up 10%+. The large move in silver was because of the manipulation within the futures markets moreso than the bank stress test results.

well the dollar fell thru the resistance/support level 83.............and is now

82.44 headed for 79-80 over the next several days (remember it doesn't always head straight down but likely will trade in a range under 83 and fall in some fashion toward 79-80...........gold should move up as this happens...............

this also means gas is going up a bit ..........as oil futures are tied to the dollar ...just like gold

reply to post by cpdaman

Hi CP. The DX Index you linked represents an exchange traded futures contract (NYBOT ICE) , not to be confused with the FOREX spot currrency market (OTC dealer traded). Compared to the FOREX , the DX isn't that heavily traded - but provides a reliable , relative strength reference for bond , Gold , and currency traders. Regardless , you are correct-o-mundo CP - all technical traders chart support/resistance levels , including FOREX currency traders.

GL

Forex Support and Resistance Levels

Both gold and stocks have been doing well lately which tells me there is a lot of fear of inflation. Bernanke is just dumping trillions of $ into the economy to get it rolling again. Not a bad idea, but if it works hyper-inflation is almost certain.

Both the dollar and the long bond are below their 200 day moving averages and that's very negative. Maybe investors are finally realizing how stupid it is to think of the $ as a safe haven now.

Originally posted by Make Speed Limit 45
Both the dollar and the long bond are below their 200 day moving averages and that's very negative. Maybe investors are finally realizing how stupid it is to think of the $ as a safe haven now.

yes it is......and the $ may be losing it's safe haven status......but who really knows.....one would think it would have a while ago

many interpret this as a sign of i MONETARY nflation but i don't ....just a lack of confidence in a currency and a higher chance that some of the debt may need to be restructured ..../cleared before any recovery for the real economy can move forward......

.i mean the fed is paying interest on excess reserves....giving banks incentive to hoard money and make profits (and curtal lending to the real economy even further)...not to mention a economic climate with high unemployment and rising corporate defaults isn't the best for banks to lend into....couple this with the velocity of money slowing ..(.86) and deleveraging continuing.....and you don't get inflation......the real economic pain may be leveraged until the public willingly clamors for a solution...any solution....Global central bank

meanwhile the fed is throwing trillions in the financial sector (where it is clogged) and working to ARTIFICIALLY thaw credit markets except corporate bond spreads (indicating high defaults in 2010) and insure banks can value (questionable debt's) at inflated values to clean up their balance sheets all the while likely inciting investment firms to bid up the stock indices to generate a illusion of health....Orwellian...In FACT orwellian MAYBE the best way to describe the next year......


p.s as dollar falls oil should rise as well as food however this will increase the cost of living.....and price increases are consumer price inflation.....where as i define inflation as
Monetary inflation i.e total money and credit


[edit on 9-5-2009 by cpdaman]

i know this is a little off topic. and i dont know if this is true or not. but i heard our money isnt based on the value of gold anymore, but instead the amount of money that is printed by the Federal Reserve. That they print our money supply on loan to us at interest and it can never be repaid, and they are a private bank actually having nothing to do with the US GOV_ is this true? has anyone else heard this? forgive my ignorance on this issue.

i'm getting concerned that a bubble may build up in OIL again as well.....should the dollar go into a couple month "swoon" investors looking for high returns may look to pile in to OIL and Food futures

How much could oil rise in 3 months? i would say it could get back to $100

i don't see the earnings to get the stock market that much higher .....perhaps 10,500 on the DJIA or 1050 on the S&P but i don't see HOW it could get much higher with earnings being kept down for a while (and i still there is a strong chance it will go lower in the late fall (when 3Q earnings come out 4Q as well)

Should the FEd stop paying intrest on reserves......then there will be a chance for the Money Multiple effect of reserves and lending to take off.....who would be deemed .....risk worthy borroweres would be interesting ......But i think this is a HUGE ISSUE to follow........paying intrest on reserves is a huge incentive for banks to NOT LEND and make risk free profits.........pay attention to this .....to see if credit gets extended into the hands of consumer's

I could definately see oil get back up to $100. Especially since summer is "driving season" and oil/gasoline prices always increase around this time. As soon as I saw the Stress test results and saw that banks are going to have to raise capital by selling stock and assets I knew what was coming. They're going to issue a massive amount of stock, devaluing it so people buy. Ford announced they are doing the same today.

Look for the market to take a dive....

Today's market....


$USD/Bonds = Urgent Priority

Stocks = Sacrificial Lamb


or....


How the Gubmn't/Fed intervenes to slow a critical decline in the $USD , and halt the surge in long-term treasury rates....

With the aid of proxy trading desks & insiders...engineer another round of de-leveraging/flight to safety.

Approaching key technical levels , begin harvesting profits > then , reverse > go massively short > take the 'greater fools' out of their positions...at a loss.

Connected prop desks count their winnings , and watch , as the bagholders return to the "safety" of $USD/treasuries.

Wash/Rinse/Repeat

****

Gold


Some folks here know that I have been following the work of Martin Armstrong for a few years...fascinating man...fascinating story...it's good to see his Economic Confidence Model gaining Internet popularity.


Approx turn date: April 19-20 , 2009

The next big turning point: this weekend

Nevertheless, of note to all investors, is that there is another Armstrong turn date coming on 2009.3, or 19-20 April. What we have to figure out is which market is going to turn.

Full Text

Actually , Armstrong' model displays 2009.3 as an interim , or , minor turn date.

FWIW....

Dollar topped 4/20/09

Gold bottomed 4/20/09

Silver bottomed 4/20/09


GL

OBE 1 good post........really enjoyed it overall (like most of your posts)

i have serious doubts that armstrong can point out dates to the day regardless of the validity of his model.......anyone can find something when scouring financal data looking for it (ESPecially somethng minor) ....and then draw........a false positive..........what other dates has he predicted to the day

Thank you CP , I'm sure you know that goes both ways.

Let me offer one example. Anticipating Armstrong' 2007.15 turn date (Feb 27, 2007) , I was up all that night. Believe me , even I was slack-jawed as global markets began to tumble in Asia , spreading West - e.g. Shanghai Composite Index dropped 8.8% (biggest 1 day decline in 10yrs) - Hang Seng - then the FTSE - DAX - all negative. New York - bleak - NYSE finally imposed trading curbs at 1:00pm to halt the slide with the DJIA losing as much as 545 intra. S&P - Nasdaq - Russell all -4% eod. Underlying this market event was the first major panic in prime , and subprime CDS markets.

In short , it was a BIG day. Many believe Feb 27, 2007 marked the top in both the global financial markets , & RE....not to mention investor sentiment.

The pyramid could crumble

What's more important is what Bernanke didn't say: that this time, the biggest potential danger isn't from a slowdown in the U.S. or Chinese economies. It's from the pyramid of leverage in the debt markets created by traders and speculators using cheap money from around the globe, and in particular from Japan. The sell-off of Feb. 27 demonstrated how a panicked unwinding of that pyramid of debt could send financial markets into chaos.

His answer on Feb. 28 was reassuring to the markets in the short term, but I worry that all it does is extend the complacency about risk piled on risk in the debt markets that got us into this fix in the first place.

Let me first run through the evidence from the market action on Feb. 27 that shows that the problem is in the financial markets and not in the economy....

Full Text

You can scroll this page for more on Armstrong , his accuracy , and a few supportive charts.

From the CIA demanding access to his programs (how the hell does he do it?), to being imprisoned without trial for 7yrs on "contempt" , and on to the Goldman Sachs connection , his personal nightmare is a bonafide conspiracy-buff' dream.

More

And more

GL

OBE correct me if i'm wrong

but his turn date of 2007.15

means .15 of the way thru the 'calender year' in 2007

365/ .15 = approx (this is in my head) just short of 54 ...so 54 we say

that would co-incide with FEB 23......not 27'th...........i don't think nathan's math is spot on

also at 2008.225 which equals approx. 81 days into the calendar year (March 22) give or take depending on wether 2008 was a leap year

i don't find anything too noteworthy on that date or within a couple days around.....7-10 days prior gold passed 1000 for a day or two and bear stearns was rescued (although i mean there was almost a hundred days in the last two years when something "crazy" seemed to be occuring.....) if he called lehman's collapse.....

still i do believe he knew too much..........but i'm not just sure about what exactly...........he has developed a cult-like following and i do read him

i think were always searching for the guy that figured it out............and sometimes we want to believe they know more than they do..........with that being said could it be possible his work and methods brought him to the similiar conclusions of Kondratieff en.wikipedia.org...

[edit on 15-5-2009 by cpdaman]

gold movin' on up $953

stocks are down substantially so far...but Bonds are also down quite large

some money flown' into gold

some believe the sell of is because INVESTORS belive the USA could be next to lose it's credit rating....(just like UK's gov't credit rating was changed to "negative" from neutral.)

a statement from S&P saying U.S debt rating is "safe as far into the future as we can see" .....would do wonders to take gold down....and get money back into u.s gov't bonds and stocks......let's see



[edit on 21-5-2009 by cpdaman]