"Sign of Distress: More Who Can’t Pay Their Bills"
"Sign of Distress: More Who Can’t Pay Their Bills," see http://www.nytimes.com/2008/04/13/business/13count.html.
Part of the article:
"The American Bankers Association recently reported that in the fourth quarter of 2007, consumer credit delinquencies reached their highest level since 1992."
By now consumer credit delinquencies have probably exceeded the 1992 level, which is obviously very deflationary.
Ask a gold pimp how massive asset (stocks, credit/debt instruments, real estate) deflation, plummeting money market rates and bond yields, and, a worldwide major economic downcycle is good for commodities/gold. Plummeting stock markets and other markets/assets around the world are supposed to be inflationary?
The commodities bubble is also deflationary, in that it hurts individuals and businesses. Big rigs spend $1000+ (that's right) to fill up, mining firms energy expenses have skyrocketed, as have airlines obviously. Consumers are feeling the pinch along with many businesses.
Concerning HUI/XAU/gold, the important thing now is that HUI/XAU/gold hit a 5% follow through major sell signal three weeks ago, see http://stockcharts.com/charts/gallery.html?%24xau. The multi month uptrend lines broke down and 5%+ follow through occurred to the downside. HUI/XAU/gold (gold might lag and peak in rollover mode) are in the midst of a major intermediate term downcycle, that's probably the start of an 18 monthish Wave 2 Cyclical Bear Market. HUI/XAU/gold will probably fall -50%+ in this bear market. Got cycles?
HUI/XAU very likely put in an intermediate term and a Wave 1 Cyclical Bull Market cycle high on 3-17 for HUI and on 3-14 for the XAU, see http://stockcharts.com/charts/gallery.html?%5Ehui. The XAU has a large bearish spike on 3-14's candle.
Who ya gonna call? Gold Pimp Busters!
.......http://www.JoeFROCKS.com/ .
HUI NEM XAU
Part of the article:
"The American Bankers Association recently reported that in the fourth quarter of 2007, consumer credit delinquencies reached their highest level since 1992."
By now consumer credit delinquencies have probably exceeded the 1992 level, which is obviously very deflationary.
Ask a gold pimp how massive asset (stocks, credit/debt instruments, real estate) deflation, plummeting money market rates and bond yields, and, a worldwide major economic downcycle is good for commodities/gold. Plummeting stock markets and other markets/assets around the world are supposed to be inflationary?
The commodities bubble is also deflationary, in that it hurts individuals and businesses. Big rigs spend $1000+ (that's right) to fill up, mining firms energy expenses have skyrocketed, as have airlines obviously. Consumers are feeling the pinch along with many businesses.
Concerning HUI/XAU/gold, the important thing now is that HUI/XAU/gold hit a 5% follow through major sell signal three weeks ago, see http://stockcharts.com/charts/gallery.html?%24xau. The multi month uptrend lines broke down and 5%+ follow through occurred to the downside. HUI/XAU/gold (gold might lag and peak in rollover mode) are in the midst of a major intermediate term downcycle, that's probably the start of an 18 monthish Wave 2 Cyclical Bear Market. HUI/XAU/gold will probably fall -50%+ in this bear market. Got cycles?
HUI/XAU very likely put in an intermediate term and a Wave 1 Cyclical Bull Market cycle high on 3-17 for HUI and on 3-14 for the XAU, see http://stockcharts.com/charts/gallery.html?%5Ehui. The XAU has a large bearish spike on 3-14's candle.
Who ya gonna call? Gold Pimp Busters!
.......http://www.JoeFROCKS.com/ .
HUI NEM XAU
Labels: Gold, Gold Stocks, HUI, NEM, Silver, Silver Stocks, XAU
posted by Joe Ferrazzano at
1:34 PM
0 Comments:
Post a Comment
<< Home