I believe the action in gold yesterday (Wednesday) should be looked at seriously as it pushes the gold market to its best level in almost 3 months.
In my ne
w video, I show you what I think is going to happen to this market in the near term and the long term. I also discuss energy fields as they pertain to gold, and where our Trade Triangles are positioned in the yellow metal.
There is no need to register for this video and of course you can watch it with my compliments. I highly recommend watching this video today otherwise you risk missing out on what could be the move of the year.
Enjoy the video and please give us your feedback on this blog.
All the best,
Adam Hewison
President, INO.com
Co-creator, MarketClub
bot few bars and coins at 850, selling 1/3 today and raising mental stop to 970 on remainder on the guess that if there's a drop, it will be a big one. I don't think any of us has the slightest idea what the major holders, incl china, imf, central banks, will do now - only that they don't always do what they say they will do.
We DO know that the fed buys and sells gold to manipulate interest rates because Alan Greenspan told us that some time ago.
Very interesting video, thank you! Good insight and great perspective shown.
Thank you for the video Adam. I am a little skeptical about this move too. Right now, like Bobby is implying, buying gold is like chasing a hot stock. It's a losers game. Who wants to be the last person holding on to gold. I would rather buy on the next viable trade triangle with a pull back.
But of course that may not happen. Obama may get his friends a Bear Sterns to dump all their $750 gold so as to not cause panic in the general public. The public is still a little gun shy from the last stock market beat down crisis so it is in the US governments best interest to prop up their dollar and extinguish gold prices.
Looks like the US dollar is forming an energy pattern of its own. Should be interesting how these two couple and decouple...
Busted through that overhead resistance today. Funny how people didn't buy at $700, didn't buy at $800, didn't buy at $900, didn't buy at $950, but the price chaser are stampeding in to buy up to $1000 and beyond.
While I agree that we are headed for a rough fall (the season in general) and fall (in the stock market) my take is that gold will actually hold up quite well this time around. The reason being that it appears that the market is realizing that the US can not add trillions upon trillions to our debt without huge negative implications for the dollar. Couple that with the fact the the financial system is still in shambles (TARP, suspension of marke to market, etc. make it appear that banks are OK)and people will seek the saftey of true money (gold).
Maybe you should try to take more vacations ? Best wishes colin
Great observations on the Gold market. I am somewhat reluctant to believe we will stay above the 1K mark for too long simply because I think, come autumn, this market will start to rollover once again as more bank woes will usher in the next leg of this greater recession.
With it, another round of deleveraging, not unlike what happened in 2008 that clobbered all commodities like gold and especially silver.
Thank you Adam for a great video as I agree with your assessment of the short term projections, however we may not make it quite to 1200. We shall see!