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Asia already "voted" Nikkei down a % and a half, Hang Seng was down 2% now down a half %..........i can guess EU opens, i wager the Dow trades off 300 pts plus...........now the slide begins.

Lot's of smart, ingenious, and unscrupulous people trying to hold it back. Not... just... yet.

Funny how that works. People get all caught up in the "what if" thing of supposed default on the debt ceiling. Then, when they actually get a "solution" that they are all desparate for, it's like the dog that caught the garbage truck. The turd is on the table now folks, and more people are now seeing it.

Now it's like - well crap, the BEST that congress could do, after arguing for weeks, pushing things to the wire, is a non-solution that further devalues the dollar by AT LEAST 50% in the next few years. Hmmm, maybe I should buy some gold now...?

And we're now less than $4 away from the gold target of $1650 that was predicted 10 years ago by one of the sages of gold. He was only a few months off in his prediction.

68Camaro wrote:And we're now less than $4 away from the gold target of $1650 that was predicted 10 years ago by one of the sages of gold. He was only a few months off in his prediction.

Who is this person, and what's he calling for in the future?

Corsair wrote:

68Camaro wrote:And we're now less than $4 away from the gold target of $1650 that was predicted 10 years ago by one of the sages of gold. He was only a few months off in his prediction.

Who is this person, and what's he calling for in the future?

Couldn't remember off the top of my head which is why I didn't name him , but I'm looking him up on my phone email as he is excerpted most every day in one of the newsletters I get. I'll post his next targets as well, as soon as I find them.

68Camaro wrote:And we're now less than $4 away from the gold target of $1650 that was predicted 10 years ago by one of the sages of gold. He was only a few months off in his prediction.

....and the eagle has landed.

68Camaro wrote:

Corsair wrote:

68Camaro wrote:And we're now less than $4 away from the gold target of $1650 that was predicted 10 years ago by one of the sages of gold. He was only a few months off in his prediction.

Who is this person, and what's he calling for in the future?

Couldn't remember off the top of my head which is why I didn't name him , but I'm looking him up on my phone email as he is excerpted most every day in one of the newsletters I get. I'll post his next targets as well, as soon as I find them.

Jim Sinclair I think he also wagered $1,000,000 about two years ago that his prediction would be accurate... no one was willing to bet against him

68Camaro wrote:

Corsair wrote:

68Camaro wrote:And we're now less than $4 away from the gold target of $1650 that was predicted 10 years ago by one of the sages of gold. He was only a few months off in his prediction.

Who is this person, and what's he calling for in the future?

Couldn't remember off the top of my head which is why I didn't name him , but I'm looking him up on my phone email as he is excerpted most every day in one of the newsletters I get. I'll post his next targets as well, as soon as I find them.

Yeah - it is Jim Sinclair, and while I'm sure I'll see an update tomorrow, I believe his next target is 1680-1681, with 1764 to follow, and near-term (next year or two) prediction is 2025.

http://www.jsmineset.com/jims-formula/

Of course other events could send it skyrocketing, 5000 or more.

Silver will follow, if it doesn't lead.

neilgin1 wrote:Asia already "voted" Nikkei down a % and a half, Hang Seng was down 2% now down a half %..........i can guess EU opens, i wager the Dow trades off 300 pts plus...........now the slide begins.

The Dow trades down 265 points. . .pretty close.

68Camaro wrote:Yeah - it is Jim Sinclair, and while I'm sure I'll see an update tomorrow, I believe his next target is 1680-1681, with 1764 to follow, and near-term (next year or two) prediction is 2025.

http://www.jsmineset.com/jims-formula/

Of course other events could send it skyrocketing, 5000 or more.

Silver will follow, if it doesn't lead.

I believe I read somewhere that 1764 is the tipping point for gold to go parabolic.

theo wrote:I believe I read somewhere that 1764 is the tipping point for gold to go parabolic.

If you read enough then you will have every single number labeled for that, i.e. 1500, 1400, 1, 10, etc. People don't really know

barrytrot wrote:

theo wrote:I believe I read somewhere that 1764 is the tipping point for gold to go parabolic.

If you read enough then you will have every single number labeled for that, i.e. 1500, 1400, 1, 10, etc. People don't really know

Agreed. But most predictions involve round numbers. I just thought it was strange that 1764 came up in two separate articles; the product of some mathmatical analysis no doubt. Probably a moving average adjusted for inflation.

Anyway, if people did know what was going to happen we wouldn't bother discussing it.

we pop 2,000 in gold, thats A HUGE pyschological benchmark...consider that....seriously ,whats "parabolic" mean? is it kind of like the market gets twiggy and volatile, huge swings?.....i always say, "markets getting twiggy". in my opinion, two grand an ounce is twiggy land, watch out for these corrupt small men to pull some bull scat, confiscation, bank holidays, chopping zero's off the dollar, making "new dollars"...probably around late '13 to 14, when the President is a lame duck and under God knows what medication, with some fire breathing tea partier whipping the starving masses into some pea brained torch carrying hate fest, directed at who knows what target(s).

without sounding arrogant (and i DO mean that) here's whats going to happen, as we said in the Navy:

Make ready for pitching decks, stormy weather ahead, batten all hatches.

(not to be so dire and serious, here's a really fun video to watch, its the series "Carrier" and these two parts show what happens when the Capt of the Nimitz calls for a pitching deck exercise and it almost turns on him. My man, CDR Dave Fravor ("Sex") once CO of the Black Aces sqn shows what leadership is really all about...trust me, you'll like this stuff:

http://www.youtube.com/watch?v=4gGMI8d3vLs part 1

http://www.youtube.com/watch?v=S0yj70QbBzg

God bless you all)

I certainly thought all that talk about gold over $1000 was a bunch of scare mongering by people selling gold.

Now?

barrytrot wrote:

theo wrote:I believe I read somewhere that 1764 is the tipping point for gold to go parabolic.

If you read enough then you will have every single number labeled for that, i.e. 1500, 1400, 1, 10, etc. People don't really know

That's what they told Jim Sinclair when he made the call of $1650 gold in 2011... 7 years ago

With the silver spike earlier this year, we popped from 40 to 50 pretty quick. That's the same percentage as gold going from 1600 to 2000. We could see the same thing happen to gold this fall that happened with silver in the spring. A breakdown to 1500 after a 2000 breakout may occur too, but that will just be a buying opportunity.

Good call by neil on the drop today!

and this is only Tuesday. The pyschology of the market is just broken, what could possibly give ANY lift to equities this week?

the ONLY thing i could think of is the employment numbers...i THINK the markets looking for 85k jobs, after June's disasterous 18k...God help this thing, if the numbers come in say, below 60,000 jobs created, that'll be Friday, the day of nasty sell offs before the next week when it does get worse.

Dont put it past gummit quants to get the word from above, "estimate high", then do a downward revision later, so dont be surprised if they come up with 110,000 jobs created, surpassing the "Street"s" expectations, opens Dow 90-130 higher...flatlines higher, last hour plummets..on a Friday, pyschology is now just that BLACK.....guys are really scared....and a contrarian stance is a kamikaze trip. There ARE times when to be a contrarian just dont work, this is one of them.

This time, next week, the Dow is going to be closer to 10,000 (if not below) than to 12,000. and i can veritably promise you, this month we'll see a 1,000 point plus sell off in the Dow. its over.

batten hatches, make ready for rough sea.

Neil, do you think that we will see a day this week or next week that the market will have to stop trading due to a 10% drop? A.K.A. Trip a circuit breaker

neilgin1 wrote:Dont put it past gummit quants to get the word from above, "estimate high", then do a downward revision later...

No - expect it. So whatever they give us, if the number doesn't look real bad, the real number will just be worse. Every number they've given us this year has quietly been revised significantly down later.

For jobs, we need to see a 200,000+ number to even keep pace with new people coming into the market. We need 400,000+/month for a couple years straight to fix the problem. <100,000 is pathetic. 5 digits is a depression. Which is what we're in.

neilgin1 wrote:without sounding arrogant (and i DO mean that) here's whats going to happen, as we said in the Navy:

Make ready for pitching decks, stormy weather ahead, batten all hatches.

(not to be so dire and serious, here's a really fun video to watch, its the series "Carrier" and these two parts show what happens when the Capt of the Nimitz calls for a pitching deck exercise and it almost turns on him. My man, CDR Dave Fravor ("Sex") once CO of the Black Aces sqn shows what leadership is really all about...trust me, you'll like this stuff:

http://www.youtube.com/watch?v=4gGMI8d3vLs part 1

http://www.youtube.com/watch?v=S0yj70QbBzg

God bless you all)

Yeah - I remember that one. Watched part 1 again. God bless 'em is all I can say to that.

slickeast wrote:Neil, do you think that we will see a day this week or next week that the market will have to stop trading due to a 10% drop? A.K.A. Trip a circuit breaker

oh darn...i forgot about the circuit breakers...i dont know. 1,000 point move to the downside would be close to 10% wouldnt it?
i dont know the mechanism how it all works...stop trading for a hour?...what?

i just feel that in these next two weeks, all hell is breaking loose, and i'm going on three lil items:

1. ZH showed the insider buying to selling stock ratio a few weeks ago, and it was something CRAZY like 1000 to 1, i cant remember the exact number, but it was enough to make me take notice. 1000 to 1 in favor of selling.

2. if you look at the SnP 500 daily barchart, its beastly ugly and we broke to the downside on heavy volumne...heres the chart site i use:
http://futures.tradingcharts.com/marketquotes/ ...price is right, its free. check out the Sp500 e mini daily chart, then look at the daily gold chart, break outs in opposite directions....silver doesnt show a volumne bump, but i think thats coz guys are sick of getting ambushed, the cartel wouldnt DARE pull that stuff in the gold, its too big a market.

3. most importantly, you can FEEL the market pyschology just broken. black....and a panic is a spooky thing, i was there on the CME floor in 87, and on that Friday, before Black Monday, the 22% crash, we ALL walked off that floor on Friday and knew what was going to go down on Monday...you just FELT it, and thats the feeling i'm getting now...and i'm as far as from the scene as you can get, and I FEEL IT....hope i'm wrong, i really do. i personally think circuit breakers are illadvised, thats the mistake they made in 08, and i talked with a bunch of guys on this, and we felt, ugly as it may be, just let the mkt trade out of the mess.....its just going to get ugly, period. which i write with NO pleasure....and hope i'm very wrong.

I wish I had any gold outside of the junk/costume stuff I've been slowly buying @ the local thrift stores.

As for silver I've developed a somewhat decent model of finding it and buying a discount, also stocking up on pennies & nickels at a decent clip. Wish I could find more silver to buy but at this time I just can't get more volume than I already am. Makes me worry as a parent, but as a younger person, I realize there's a huge potential to profit off stuff like this. Soon I'll be setting up a large penny sorting shop (hopefully 4-5 machines) with one full-time person running the machines 4-6 hours a day.

68Camaro wrote: <100,000 is pathetic. 5 digits is a depression. Which is what we're in.

yes we are....[shucks]. What we need, and i know how you feel, but we need an FDR....not a PRECISE FDR, but what i mean is, this nation needs the "Good Father" type leader, and not a 'small man', but a special man, and we dont have a Washington, nor a Lincoln, nor an FDR...that Good Father leader, instead what we got are perverted "foster parent" type leaders, just looking to get that gummit check to barely take care of the "kids".

...and i look on the national horizon, and all i see is a long drab grey line of drab grey men, sprinkled with the soccer mom church ladies from hell, Sarah and Michele...and at the helm ,we got the little community organizer that could, Barry Obama.

Where is Colin Powell when you need him?

schockergd wrote:I wish I had any gold outside of the junk/costume stuff I've been slowly buying @ the local thrift stores.

As for silver I've developed a somewhat decent model of finding it and buying a discount, also stocking up on pennies & nickels at a decent clip. Wish I could find more silver to buy but at this time I just can't get more volume than I already am. Makes me worry as a parent, but as a younger person, I realize there's a huge potential to profit off stuff like this. Soon I'll be setting up a large penny sorting shop (hopefully 4-5 machines) with one full-time person running the machines 4-6 hours a day.

But at least you're doing SOMETHING, coz you got grit...thats what it means to be an American, my thoughts and my prayers and my admiration go with you and your family, you bring me hope. Stay strong, neil