...................Gold Isn't Protecting Us!
Gold (http://stockcharts.com/charts/gallery.html?gld), the commodity that has done basically nothing (in simple buy and hold terms) for 28 years, since the 1980 Secular Bull Market cycle high at $875ish, isn't "protecting us," instead, it's getting crushed. What a shocker that is.
The good thing about this Wave 2 Cyclical Bear Market since 3-17-08 is that it'll expose many gold writers for what they are, goofy, mindless, and, in some cases, corrupt village idiots.
Recently consumer confidence hit it's lowest level since June 1980, when gold approached $500 after peaking at $875ish in early 1980. This obviously jives with the very deflationary crashing velocity/circulation of money, that's more than offsetting the rapid money supply growth that some gold writers harp on.
Real estate is in a severe recession, autos are in a recession, mortgage, auto, and other types of lending are tight and getting tighter due to the credit crisis fallout, stocks are in a Cyclical Bear Market since mid/late 2007, credit/debt instruments and many financial stocks have crashed, etc. The environment is obviously very deflationary, yet, I haven't seen any other gold writer discuss it. Pretty sad and pathetic.
Gold and silver had two Cyclical Bear Markets in the previous Secular Bull Market that peaked in 1980, corresponding to Elliott Wave 2 and 4 downcycles, see http://tradethecycles.blogspot.com/2008/03/gold-and-silvers-two-cyclical-bear.html, and, they're very likely in one now.
Game over village idiots!
.......http://www.JoeFROCKS.com/ .
NEM XAU HUI
The good thing about this Wave 2 Cyclical Bear Market since 3-17-08 is that it'll expose many gold writers for what they are, goofy, mindless, and, in some cases, corrupt village idiots.
Recently consumer confidence hit it's lowest level since June 1980, when gold approached $500 after peaking at $875ish in early 1980. This obviously jives with the very deflationary crashing velocity/circulation of money, that's more than offsetting the rapid money supply growth that some gold writers harp on.
Real estate is in a severe recession, autos are in a recession, mortgage, auto, and other types of lending are tight and getting tighter due to the credit crisis fallout, stocks are in a Cyclical Bear Market since mid/late 2007, credit/debt instruments and many financial stocks have crashed, etc. The environment is obviously very deflationary, yet, I haven't seen any other gold writer discuss it. Pretty sad and pathetic.
Gold and silver had two Cyclical Bear Markets in the previous Secular Bull Market that peaked in 1980, corresponding to Elliott Wave 2 and 4 downcycles, see http://tradethecycles.blogspot.com/2008/03/gold-and-silvers-two-cyclical-bear.html, and, they're very likely in one now.
Game over village idiots!
.......http://www.JoeFROCKS.com/ .
NEM XAU HUI
Labels: Gold, Gold Stocks, HUI, NEM, Silver, Silver Stocks, XAU
posted by Joe Ferrazzano at
8:03 AM
1 Comments:
GLD (gold ETF) made another (92.56 and 91.23 previously) very big very bearish gap down from 89.14 at today 5-29's open, that appears to be another very bearish breakaway gap, that probably won't get filled any time soon.
The multiple alias nitwit pump and dump scam artists are in trouble!
By
Joe Ferrazzano, at 10:22 AM
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