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PM spike again, won't last though

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PM spike again, won't last though

Postby Cu Penny Hoarder » Fri Dec 04, 2015 2:58 pm

https://finviz.com/futures_charts.ashx?t=GC&p=d1

Gold spiked $25 dollars today :clap:... however, it's like I'm watching the same movie over and over again.

Unless gold breaks out of the $1140-1150 area, it will be the same old thing... a spike up, then an eventual drop down to lower lows.

I still think Au will end up somewhere in the $900's, and Ag in the $10-12 area.
Time is precious, stop wasting it.
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Re: PM spike again, won't last though

Postby beauanderos » Fri Dec 04, 2015 4:25 pm

Resistance and support levels mean nothing in a manipulated market. Today's breakout was likely a short-covering spike.
IMO... and these are just my own thoughts, not based upon anything I've read, but just from watching the price-capping, ad nauseum...
today's action is what we could expect, on sequential days, even weeks, were the markets free from suppression. Give em a week, they'll
have it down to where it was, or lower. :roll:
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Re: PM spike again, won't last though

Postby Thogey » Fri Dec 04, 2015 5:02 pm

Yesterday the WSJ said the dollar is dropping because of something the EU did.
Oil rose on this yesterday.

I'm not going to pretend to understand how all this works but isn't that a big reason why many of you guy own metal?

That is the USD will decrease.
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Re: PM spike again, won't last though

Postby InfleXion » Sat Dec 05, 2015 1:04 am

beauanderos wrote:Resistance and support levels mean nothing in a manipulated market. Today's breakout was likely a short-covering spike.
IMO... and these are just my own thoughts, not based upon anything I've read, but just from watching the price-capping, ad nauseum...
today's action is what we could expect, on sequential days, even weeks, were the markets free from suppression. Give em a week, they'll
have it down to where it was, or lower. :roll:

They don't mean anything for price, but I do think they impact the supply situation, because as people perceive it to be oversold they ought to buy more of it up.
Silver: the Rodney Dangerfield of precious metals.

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Re: PM spike again, won't last though

Postby InfleXion » Sat Dec 05, 2015 1:05 am

Thogey wrote:Yesterday the WSJ said the dollar is dropping because of something the EU did.
Oil rose on this yesterday.

I'm not going to pretend to understand how all this works but isn't that a big reason why many of you guy own metal?

That is the USD will decrease.

The only thing that makes sense to me, and I have no information, is that the Fed is funding the ECB via dollar swap lines, and I haven't noticed Germany complaining about Draghi's QE he's doing. Although I'm not paying super close attention lately.
Silver: the Rodney Dangerfield of precious metals.

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If it's a digital asset it's worth the electrons in cyberspace.
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Re: PM spike again, won't last though

Postby Cu Penny Hoarder » Mon Dec 14, 2015 6:40 pm

Dec 4th PM spike completed full retracement today.

New lows coming soon. My guess is big spike down on Wednesday after the Fed announcement.

Dry powder! :thumbup:
Last edited by Cu Penny Hoarder on Mon Dec 14, 2015 8:23 pm, edited 1 time in total.
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Re: PM spike again, won't last though

Postby beauanderos » Mon Dec 14, 2015 8:04 pm

Cu Penny Hoarder wrote:Dec 4rd PM spike completed full retracement today.

New lows coming soon. My guess is big spike down on Wednesday after the Fed announcement.

Dry powder! :thumbup:

I agree with you... as far as a big spike down on Wednesday, but I think they'll slam it before the announcement, not after.
I don't get angry anymore... I just buy.
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Re: PM spike again, won't last though

Postby Shazbot57 » Wed Dec 16, 2015 12:17 pm

beauanderos wrote:Resistance and support levels mean nothing in a manipulated market. Today's breakout was likely a short-covering spike.
IMO... and these are just my own thoughts, not based upon anything I've read, but just from watching the price-capping, ad nauseum...
today's action is what we could expect, on sequential days, even weeks, were the markets free from suppression. Give em a week, they'll
have it down to where it was, or lower. :roll:


Ditto! :thumbup:
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