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October 12, 2009 at 11:26 PM #468763October 12, 2009 at 11:36 PM #467948
Eugene
Participantfalse rumor, encouraged and spread by some less than knowledgeable writers, of the oil nations turning away from the dollar was the catalyst for the stampede this past week into Gold. That rumor was later decisively quashed by Reuters. But, facts did not matter, for the institutions were turning to Gold simply because the returns were too good to be ignored anymore. If they were going to continue extracting unjustifiable fees from gullible clients, Gold had to be included in portfolios.
$Gold has clearly moved into Wave V of an Elliot Wave framework. That wave is characterized by money chasing price action. Buying is being done out of a belief that the price will move higher. In short, pure greed, emotion rather than logic, is in control. That is what happened in the Gold market this week. People were buying Gold simply because of a belief that it would go higher. Facts to support those beliefs were generated afterwards.
The growing fervor of that emotionally charged buying can be observed by the mini parabolic curve that has developed. It has been marked in the top graph on the previous page. But, while emotions may have been in control, we admit to enjoying it. Though, we must note, all parabolic curves are converted into disappointment. The bearishness on the U.S. dollar is reaching an extreme. In this coming week’s Gold Thoughts we will review Federal Reserve actions, not their words. Federal Reserve policy, for all the talk and smoke, is effectively tightening at this time. That suggests both dollar strength and a weakening U.S. economy ahead.
We do need to note, though, that the funds being provided to the U.S. financial system by Federal Reserve are flowing directly into financial markets. The preeminent reason that paper equity markets, Gold, Silver, and oil moved higher this week was margin buying by funds and other investors. These markets are at this time in minibubble status, and disappointment will reappear. The U.S. dollar is deeply over sold, and has been so for some time. Such a development should be a prelude to, at a minimum, a technical bounce in the value for the dollar. That view is clearly not aligned with the consensus. The panic buyers of Gold this week may come to be disappointed that immediate gratification does not occur.
— Jon Nadler, http://www.kitco.com.
(emphasis mine)
What’s wave V of an Elliot Wave framework?
Wave five is the final leg in the direction of the dominant trend. The news is almost universally positive and everyone is bullish. Unfortunately, this is when many average investors finally buy in, right before the top. Volume is lower in wave five than in wave three, and many momentum indicators start to show divergences (prices reach a new high, the indicator does not reach a new peak). At the end of a major bull market, bears may very well be ridiculed (recall how forecasts for a top in the stock market during 2000 were received).
October 12, 2009 at 11:36 PM #468131Participantfalse rumor, encouraged and spread by some less than knowledgeable writers, of the oil nations turning away from the dollar was the catalyst for the stampede this past week into Gold. That rumor was later decisively quashed by Reuters. But, facts did not matter, for the institutions were turning to Gold simply because the returns were too good to be ignored anymore. If they were going to continue extracting unjustifiable fees from gullible clients, Gold had to be included in portfolios.
$Gold has clearly moved into Wave V of an Elliot Wave framework. That wave is characterized by money chasing price action. Buying is being done out of a belief that the price will move higher. In short, pure greed, emotion rather than logic, is in control. That is what happened in the Gold market this week. People were buying Gold simply because of a belief that it would go higher. Facts to support those beliefs were generated afterwards.
The growing fervor of that emotionally charged buying can be observed by the mini parabolic curve that has developed. It has been marked in the top graph on the previous page. But, while emotions may have been in control, we admit to enjoying it. Though, we must note, all parabolic curves are converted into disappointment. The bearishness on the U.S. dollar is reaching an extreme. In this coming week’s Gold Thoughts we will review Federal Reserve actions, not their words. Federal Reserve policy, for all the talk and smoke, is effectively tightening at this time. That suggests both dollar strength and a weakening U.S. economy ahead.
We do need to note, though, that the funds being provided to the U.S. financial system by Federal Reserve are flowing directly into financial markets. The preeminent reason that paper equity markets, Gold, Silver, and oil moved higher this week was margin buying by funds and other investors. These markets are at this time in minibubble status, and disappointment will reappear. The U.S. dollar is deeply over sold, and has been so for some time. Such a development should be a prelude to, at a minimum, a technical bounce in the value for the dollar. That view is clearly not aligned with the consensus. The panic buyers of Gold this week may come to be disappointed that immediate gratification does not occur.
— Jon Nadler, http://www.kitco.com.
(emphasis mine)
What’s wave V of an Elliot Wave framework?
Wave five is the final leg in the direction of the dominant trend. The news is almost universally positive and everyone is bullish. Unfortunately, this is when many average investors finally buy in, right before the top. Volume is lower in wave five than in wave three, and many momentum indicators start to show divergences (prices reach a new high, the indicator does not reach a new peak). At the end of a major bull market, bears may very well be ridiculed (recall how forecasts for a top in the stock market during 2000 were received).
October 12, 2009 at 11:36 PM #468489Participantfalse rumor, encouraged and spread by some less than knowledgeable writers, of the oil nations turning away from the dollar was the catalyst for the stampede this past week into Gold. That rumor was later decisively quashed by Reuters. But, facts did not matter, for the institutions were turning to Gold simply because the returns were too good to be ignored anymore. If they were going to continue extracting unjustifiable fees from gullible clients, Gold had to be included in portfolios.
$Gold has clearly moved into Wave V of an Elliot Wave framework. That wave is characterized by money chasing price action. Buying is being done out of a belief that the price will move higher. In short, pure greed, emotion rather than logic, is in control. That is what happened in the Gold market this week. People were buying Gold simply because of a belief that it would go higher. Facts to support those beliefs were generated afterwards.
The growing fervor of that emotionally charged buying can be observed by the mini parabolic curve that has developed. It has been marked in the top graph on the previous page. But, while emotions may have been in control, we admit to enjoying it. Though, we must note, all parabolic curves are converted into disappointment. The bearishness on the U.S. dollar is reaching an extreme. In this coming week’s Gold Thoughts we will review Federal Reserve actions, not their words. Federal Reserve policy, for all the talk and smoke, is effectively tightening at this time. That suggests both dollar strength and a weakening U.S. economy ahead.
We do need to note, though, that the funds being provided to the U.S. financial system by Federal Reserve are flowing directly into financial markets. The preeminent reason that paper equity markets, Gold, Silver, and oil moved higher this week was margin buying by funds and other investors. These markets are at this time in minibubble status, and disappointment will reappear. The U.S. dollar is deeply over sold, and has been so for some time. Such a development should be a prelude to, at a minimum, a technical bounce in the value for the dollar. That view is clearly not aligned with the consensus. The panic buyers of Gold this week may come to be disappointed that immediate gratification does not occur.
— Jon Nadler, http://www.kitco.com.
(emphasis mine)
What’s wave V of an Elliot Wave framework?
Wave five is the final leg in the direction of the dominant trend. The news is almost universally positive and everyone is bullish. Unfortunately, this is when many average investors finally buy in, right before the top. Volume is lower in wave five than in wave three, and many momentum indicators start to show divergences (prices reach a new high, the indicator does not reach a new peak). At the end of a major bull market, bears may very well be ridiculed (recall how forecasts for a top in the stock market during 2000 were received).
October 12, 2009 at 11:36 PM #468561Participantfalse rumor, encouraged and spread by some less than knowledgeable writers, of the oil nations turning away from the dollar was the catalyst for the stampede this past week into Gold. That rumor was later decisively quashed by Reuters. But, facts did not matter, for the institutions were turning to Gold simply because the returns were too good to be ignored anymore. If they were going to continue extracting unjustifiable fees from gullible clients, Gold had to be included in portfolios.
$Gold has clearly moved into Wave V of an Elliot Wave framework. That wave is characterized by money chasing price action. Buying is being done out of a belief that the price will move higher. In short, pure greed, emotion rather than logic, is in control. That is what happened in the Gold market this week. People were buying Gold simply because of a belief that it would go higher. Facts to support those beliefs were generated afterwards.
The growing fervor of that emotionally charged buying can be observed by the mini parabolic curve that has developed. It has been marked in the top graph on the previous page. But, while emotions may have been in control, we admit to enjoying it. Though, we must note, all parabolic curves are converted into disappointment. The bearishness on the U.S. dollar is reaching an extreme. In this coming week’s Gold Thoughts we will review Federal Reserve actions, not their words. Federal Reserve policy, for all the talk and smoke, is effectively tightening at this time. That suggests both dollar strength and a weakening U.S. economy ahead.
We do need to note, though, that the funds being provided to the U.S. financial system by Federal Reserve are flowing directly into financial markets. The preeminent reason that paper equity markets, Gold, Silver, and oil moved higher this week was margin buying by funds and other investors. These markets are at this time in minibubble status, and disappointment will reappear. The U.S. dollar is deeply over sold, and has been so for some time. Such a development should be a prelude to, at a minimum, a technical bounce in the value for the dollar. That view is clearly not aligned with the consensus. The panic buyers of Gold this week may come to be disappointed that immediate gratification does not occur.
— Jon Nadler, http://www.kitco.com.
(emphasis mine)
What’s wave V of an Elliot Wave framework?
Wave five is the final leg in the direction of the dominant trend. The news is almost universally positive and everyone is bullish. Unfortunately, this is when many average investors finally buy in, right before the top. Volume is lower in wave five than in wave three, and many momentum indicators start to show divergences (prices reach a new high, the indicator does not reach a new peak). At the end of a major bull market, bears may very well be ridiculed (recall how forecasts for a top in the stock market during 2000 were received).
October 12, 2009 at 11:36 PM #468773Participantfalse rumor, encouraged and spread by some less than knowledgeable writers, of the oil nations turning away from the dollar was the catalyst for the stampede this past week into Gold. That rumor was later decisively quashed by Reuters. But, facts did not matter, for the institutions were turning to Gold simply because the returns were too good to be ignored anymore. If they were going to continue extracting unjustifiable fees from gullible clients, Gold had to be included in portfolios.
$Gold has clearly moved into Wave V of an Elliot Wave framework. That wave is characterized by money chasing price action. Buying is being done out of a belief that the price will move higher. In short, pure greed, emotion rather than logic, is in control. That is what happened in the Gold market this week. People were buying Gold simply because of a belief that it would go higher. Facts to support those beliefs were generated afterwards.
The growing fervor of that emotionally charged buying can be observed by the mini parabolic curve that has developed. It has been marked in the top graph on the previous page. But, while emotions may have been in control, we admit to enjoying it. Though, we must note, all parabolic curves are converted into disappointment. The bearishness on the U.S. dollar is reaching an extreme. In this coming week’s Gold Thoughts we will review Federal Reserve actions, not their words. Federal Reserve policy, for all the talk and smoke, is effectively tightening at this time. That suggests both dollar strength and a weakening U.S. economy ahead.
We do need to note, though, that the funds being provided to the U.S. financial system by Federal Reserve are flowing directly into financial markets. The preeminent reason that paper equity markets, Gold, Silver, and oil moved higher this week was margin buying by funds and other investors. These markets are at this time in minibubble status, and disappointment will reappear. The U.S. dollar is deeply over sold, and has been so for some time. Such a development should be a prelude to, at a minimum, a technical bounce in the value for the dollar. That view is clearly not aligned with the consensus. The panic buyers of Gold this week may come to be disappointed that immediate gratification does not occur.
— Jon Nadler, http://www.kitco.com.
(emphasis mine)
What’s wave V of an Elliot Wave framework?
Wave five is the final leg in the direction of the dominant trend. The news is almost universally positive and everyone is bullish. Unfortunately, this is when many average investors finally buy in, right before the top. Volume is lower in wave five than in wave three, and many momentum indicators start to show divergences (prices reach a new high, the indicator does not reach a new peak). At the end of a major bull market, bears may very well be ridiculed (recall how forecasts for a top in the stock market during 2000 were received).
October 13, 2009 at 6:28 AM #467953scaredyclassic
ParticipantNadler’s been saying this for quite a while though. he’s a strange mouthpiece for kitco, the website he appeared on. kitco’s a gold dealer; they may be trying to gain credibility by putting up a bearish voice as a headline article, or they may be trying to generate some sales to kitco (they buy and sell). And the thing about this sort of cyclical “wave” analysis is that it has nothing to do with fundamentals. In other words, if the facts are really different this time, none of this wave stuff means much. course it may be just part of the natural ebb and flow of the financial system. course, may not. gold had a long, long downward stretch (17 years). it only started to rise about half that much time ago). i just don’t know. things may actually be different this time. at some point, things change radically.
October 13, 2009 at 6:28 AM #468136ParticipantNadler’s been saying this for quite a while though. he’s a strange mouthpiece for kitco, the website he appeared on. kitco’s a gold dealer; they may be trying to gain credibility by putting up a bearish voice as a headline article, or they may be trying to generate some sales to kitco (they buy and sell). And the thing about this sort of cyclical “wave” analysis is that it has nothing to do with fundamentals. In other words, if the facts are really different this time, none of this wave stuff means much. course it may be just part of the natural ebb and flow of the financial system. course, may not. gold had a long, long downward stretch (17 years). it only started to rise about half that much time ago). i just don’t know. things may actually be different this time. at some point, things change radically.
October 13, 2009 at 6:28 AM #468494ParticipantNadler’s been saying this for quite a while though. he’s a strange mouthpiece for kitco, the website he appeared on. kitco’s a gold dealer; they may be trying to gain credibility by putting up a bearish voice as a headline article, or they may be trying to generate some sales to kitco (they buy and sell). And the thing about this sort of cyclical “wave” analysis is that it has nothing to do with fundamentals. In other words, if the facts are really different this time, none of this wave stuff means much. course it may be just part of the natural ebb and flow of the financial system. course, may not. gold had a long, long downward stretch (17 years). it only started to rise about half that much time ago). i just don’t know. things may actually be different this time. at some point, things change radically.
October 13, 2009 at 6:28 AM #468565ParticipantNadler’s been saying this for quite a while though. he’s a strange mouthpiece for kitco, the website he appeared on. kitco’s a gold dealer; they may be trying to gain credibility by putting up a bearish voice as a headline article, or they may be trying to generate some sales to kitco (they buy and sell). And the thing about this sort of cyclical “wave” analysis is that it has nothing to do with fundamentals. In other words, if the facts are really different this time, none of this wave stuff means much. course it may be just part of the natural ebb and flow of the financial system. course, may not. gold had a long, long downward stretch (17 years). it only started to rise about half that much time ago). i just don’t know. things may actually be different this time. at some point, things change radically.
October 13, 2009 at 6:28 AM #468778ParticipantNadler’s been saying this for quite a while though. he’s a strange mouthpiece for kitco, the website he appeared on. kitco’s a gold dealer; they may be trying to gain credibility by putting up a bearish voice as a headline article, or they may be trying to generate some sales to kitco (they buy and sell). And the thing about this sort of cyclical “wave” analysis is that it has nothing to do with fundamentals. In other words, if the facts are really different this time, none of this wave stuff means much. course it may be just part of the natural ebb and flow of the financial system. course, may not. gold had a long, long downward stretch (17 years). it only started to rise about half that much time ago). i just don’t know. things may actually be different this time. at some point, things change radically.
October 13, 2009 at 9:14 AM #468033partypup
Participant[quote=Eugene]false rumor, encouraged and spread by some less than knowledgeable writers, of the oil nations turning away from the dollar was the catalyst for the stampede this past week into Gold. That rumor was later decisively quashed by Reuters. [/quote]
Hmmmm…so this is a false rumor because it’s been “decisively quashed” by Reuters? Wow, I’ll be sure to pay more attention next time when Reuters says that recovery and “green shoots” are in sight. LOL.
Of course the usual suspects are going to deny that the meeting took place, Eugene! Do you really expect them to admit, “Yeah, you got us. We were trying to dump the dollar and hoped to keep it under the table. Boy, you guys are good. Nicely done, Fisk!”
The good Mr. Nadler may have theories, as he sits in his little cubicle at Kitco. But Mr. Engendahl has actually spoken with the folks who matter:
“The secret plan was first reported by respected Middle East correspondent, Robert Fisk, in the British newspaper The Independent. [2] Fisk claims to have confirmed the existence of the plan from Arab as well as Hong Kong Chinese sources. I have confirmed from very senior and well-informed Gulf sources that the talks are real.”
http://www.atimes.com/atimes/Middle_East/KJ09Ak01.html
Max Keiser is also hearing the same thing from his sources in Paris and the MidEast:
Eugene, I don’t know how old you are, but if you are over 40 you should absolutely know NOT to believe something – until it is officially denied. And in fact, a Chinese banker quoted in the Fisk article prepared the more aware among us for this outcome:
“These plans will change the face of international financial transactions,” one Chinese banker said. “America and Britain must be very worried. You will know how worried by the thunder of denials this news will generate.”
Sorry to break it to you, Eugene, but gold didn’t even shoot up like this when the market collapsed last Fall. That’s when the real “panic” occurred – when the world was visibly falling apart – and yet gold did not move to $1060. Strange, don’t you think, that it is moving determinedly higher now without a market collapse on the front page of newspapers? That’s because something different is happening now. It’s not panic; it’s the methodical, deliberate destruction of the dollar.
If you pay close attention, you’ll notice that gold is not moving swiftly like a bull in a china shop; rather, it is moving slowly and methodically in an upward trajectory, dropping back a bit, then holding, then inching upward again.
This isn’t “panic”. This move indicates heavy players who are attempting to accumulate large sums of the metal without sending the market into convulsions by driving up the price quickly. This is precisely what one would expect from players who are moving in secret, while simultaneously denying that they are making moves.
You can fight what’s coming all you want, but it won’t change the outcome. You can either get on this train or get mowed over by it, Eugene. Your choice. But denial is futile at this point.
Enjoy your dollars – while you can.
October 13, 2009 at 9:14 AM #468215Participant[quote=Eugene]false rumor, encouraged and spread by some less than knowledgeable writers, of the oil nations turning away from the dollar was the catalyst for the stampede this past week into Gold. That rumor was later decisively quashed by Reuters. [/quote]
Hmmmm…so this is a false rumor because it’s been “decisively quashed” by Reuters? Wow, I’ll be sure to pay more attention next time when Reuters says that recovery and “green shoots” are in sight. LOL.
Of course the usual suspects are going to deny that the meeting took place, Eugene! Do you really expect them to admit, “Yeah, you got us. We were trying to dump the dollar and hoped to keep it under the table. Boy, you guys are good. Nicely done, Fisk!”
The good Mr. Nadler may have theories, as he sits in his little cubicle at Kitco. But Mr. Engendahl has actually spoken with the folks who matter:
“The secret plan was first reported by respected Middle East correspondent, Robert Fisk, in the British newspaper The Independent. [2] Fisk claims to have confirmed the existence of the plan from Arab as well as Hong Kong Chinese sources. I have confirmed from very senior and well-informed Gulf sources that the talks are real.”
http://www.atimes.com/atimes/Middle_East/KJ09Ak01.html
Max Keiser is also hearing the same thing from his sources in Paris and the MidEast:
Eugene, I don’t know how old you are, but if you are over 40 you should absolutely know NOT to believe something – until it is officially denied. And in fact, a Chinese banker quoted in the Fisk article prepared the more aware among us for this outcome:
“These plans will change the face of international financial transactions,” one Chinese banker said. “America and Britain must be very worried. You will know how worried by the thunder of denials this news will generate.”
Sorry to break it to you, Eugene, but gold didn’t even shoot up like this when the market collapsed last Fall. That’s when the real “panic” occurred – when the world was visibly falling apart – and yet gold did not move to $1060. Strange, don’t you think, that it is moving determinedly higher now without a market collapse on the front page of newspapers? That’s because something different is happening now. It’s not panic; it’s the methodical, deliberate destruction of the dollar.
If you pay close attention, you’ll notice that gold is not moving swiftly like a bull in a china shop; rather, it is moving slowly and methodically in an upward trajectory, dropping back a bit, then holding, then inching upward again.
This isn’t “panic”. This move indicates heavy players who are attempting to accumulate large sums of the metal without sending the market into convulsions by driving up the price quickly. This is precisely what one would expect from players who are moving in secret, while simultaneously denying that they are making moves.
You can fight what’s coming all you want, but it won’t change the outcome. You can either get on this train or get mowed over by it, Eugene. Your choice. But denial is futile at this point.
Enjoy your dollars – while you can.
October 13, 2009 at 9:14 AM #468574Participant[quote=Eugene]false rumor, encouraged and spread by some less than knowledgeable writers, of the oil nations turning away from the dollar was the catalyst for the stampede this past week into Gold. That rumor was later decisively quashed by Reuters. [/quote]
Hmmmm…so this is a false rumor because it’s been “decisively quashed” by Reuters? Wow, I’ll be sure to pay more attention next time when Reuters says that recovery and “green shoots” are in sight. LOL.
Of course the usual suspects are going to deny that the meeting took place, Eugene! Do you really expect them to admit, “Yeah, you got us. We were trying to dump the dollar and hoped to keep it under the table. Boy, you guys are good. Nicely done, Fisk!”
The good Mr. Nadler may have theories, as he sits in his little cubicle at Kitco. But Mr. Engendahl has actually spoken with the folks who matter:
“The secret plan was first reported by respected Middle East correspondent, Robert Fisk, in the British newspaper The Independent. [2] Fisk claims to have confirmed the existence of the plan from Arab as well as Hong Kong Chinese sources. I have confirmed from very senior and well-informed Gulf sources that the talks are real.”
http://www.atimes.com/atimes/Middle_East/KJ09Ak01.html
Max Keiser is also hearing the same thing from his sources in Paris and the MidEast:
Eugene, I don’t know how old you are, but if you are over 40 you should absolutely know NOT to believe something – until it is officially denied. And in fact, a Chinese banker quoted in the Fisk article prepared the more aware among us for this outcome:
“These plans will change the face of international financial transactions,” one Chinese banker said. “America and Britain must be very worried. You will know how worried by the thunder of denials this news will generate.”
Sorry to break it to you, Eugene, but gold didn’t even shoot up like this when the market collapsed last Fall. That’s when the real “panic” occurred – when the world was visibly falling apart – and yet gold did not move to $1060. Strange, don’t you think, that it is moving determinedly higher now without a market collapse on the front page of newspapers? That’s because something different is happening now. It’s not panic; it’s the methodical, deliberate destruction of the dollar.
If you pay close attention, you’ll notice that gold is not moving swiftly like a bull in a china shop; rather, it is moving slowly and methodically in an upward trajectory, dropping back a bit, then holding, then inching upward again.
This isn’t “panic”. This move indicates heavy players who are attempting to accumulate large sums of the metal without sending the market into convulsions by driving up the price quickly. This is precisely what one would expect from players who are moving in secret, while simultaneously denying that they are making moves.
You can fight what’s coming all you want, but it won’t change the outcome. You can either get on this train or get mowed over by it, Eugene. Your choice. But denial is futile at this point.
Enjoy your dollars – while you can.
October 13, 2009 at 9:14 AM #468646Participant[quote=Eugene]false rumor, encouraged and spread by some less than knowledgeable writers, of the oil nations turning away from the dollar was the catalyst for the stampede this past week into Gold. That rumor was later decisively quashed by Reuters. [/quote]
Hmmmm…so this is a false rumor because it’s been “decisively quashed” by Reuters? Wow, I’ll be sure to pay more attention next time when Reuters says that recovery and “green shoots” are in sight. LOL.
Of course the usual suspects are going to deny that the meeting took place, Eugene! Do you really expect them to admit, “Yeah, you got us. We were trying to dump the dollar and hoped to keep it under the table. Boy, you guys are good. Nicely done, Fisk!”
The good Mr. Nadler may have theories, as he sits in his little cubicle at Kitco. But Mr. Engendahl has actually spoken with the folks who matter:
“The secret plan was first reported by respected Middle East correspondent, Robert Fisk, in the British newspaper The Independent. [2] Fisk claims to have confirmed the existence of the plan from Arab as well as Hong Kong Chinese sources. I have confirmed from very senior and well-informed Gulf sources that the talks are real.”
http://www.atimes.com/atimes/Middle_East/KJ09Ak01.html
Max Keiser is also hearing the same thing from his sources in Paris and the MidEast:
Eugene, I don’t know how old you are, but if you are over 40 you should absolutely know NOT to believe something – until it is officially denied. And in fact, a Chinese banker quoted in the Fisk article prepared the more aware among us for this outcome:
“These plans will change the face of international financial transactions,” one Chinese banker said. “America and Britain must be very worried. You will know how worried by the thunder of denials this news will generate.”
Sorry to break it to you, Eugene, but gold didn’t even shoot up like this when the market collapsed last Fall. That’s when the real “panic” occurred – when the world was visibly falling apart – and yet gold did not move to $1060. Strange, don’t you think, that it is moving determinedly higher now without a market collapse on the front page of newspapers? That’s because something different is happening now. It’s not panic; it’s the methodical, deliberate destruction of the dollar.
If you pay close attention, you’ll notice that gold is not moving swiftly like a bull in a china shop; rather, it is moving slowly and methodically in an upward trajectory, dropping back a bit, then holding, then inching upward again.
This isn’t “panic”. This move indicates heavy players who are attempting to accumulate large sums of the metal without sending the market into convulsions by driving up the price quickly. This is precisely what one would expect from players who are moving in secret, while simultaneously denying that they are making moves.
You can fight what’s coming all you want, but it won’t change the outcome. You can either get on this train or get mowed over by it, Eugene. Your choice. But denial is futile at this point.
Enjoy your dollars – while you can.
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