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How does one start a new paragraph?

 

The problem is your browser, and a certain type of computer

 

I bet you are using Explorer. Am I right?

 

Switch to: Firefox, or Google chrome, and the problem will disappear, I reckon

 

(I made some P's in your piece)

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http://armstrongecon...gold-has-value/

Yes in a Mad Max Dark Age Not Even Gold Has Value

 

....... The only thing in a dark age that retains value is food – PERIOD! In Japan all money vanished for 600 years and rice became money.

 

SALT worked too ! (as in salary)

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I randomly come across trader blogs on my internet travels. Here is another one.

GOLD UPDATE 28 August 2013

OT and CWT Members have enjoyed the rally since June/July 2013 and we are approaching our interim set target.

The set target 1450-1480 is very close with Gold recording 1430 today. OT believes we should see within the month of September a pullback of the rally and we discuss the targets at a later stage.

We shall take some profits and will re-enter at the appropriate retracement area in September.

By year end we shall re-test the 1540 area in Gold !

 

http://www.objectivetrader.com/blog/

 

-----

 

If many traders see the same thing that can either be a positive or a negative.

 

Negative - big players can fish for the stops.

 

Positive - if enough small players play the move, we can move the market and play the momentum at key price levels.

 

To note I'm still bearish (not shorting but on the sidelines) on gold until it can close above, ideally the $1800 area, or the £1100 area. Some people talk about the $1500 area as a key area - but why start buying back in a long term congestion zone....it could stay as a congestion zone for some time still - ensure that any congestion for the last two years is cleared, that is what makes all time new highs so powerful. A drain pipe will work much better when the rubbish congestion has been cleared fully....!

 

grease_in_pipe_resized.jpg

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And what's more, the 144dma is still heavily downward sloping. I would be very surprised if the price can go straight up from here; more likely we'll have to be a little more patient until the 144 has at least flattened out a little. In the meantime we need to hold the 1350 area for the intermediate trend to remain bullish.

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I haven't posted for a year or so, but thought I would throw this in.

We're in for a re-test of lows, and down to c.1000-1050 USD, to flush out all but the strongest of bulls, before the final explosion.

I think this latest aggressive correction of 6 months or so, is far too short. If I have learnt anything from this crisis over the last 5 years, it is that change happens over a much slower and longer timeframe.
Behavourially, there are too just too many pundits, talking heads, and "experts", expecting a rally up to 1425-1550, and very few expecting another fall. Expect a rough ride. I'll come back in 3-4 months to see how this fairs.

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I haven't posted for a year or so, but thought I would throw this in.

We're in for a re-test of lows, and down to c.1000-1050 USD, to flush out all but the strongest of bulls, before the final explosion.

I think this latest aggressive correction of 6 months or so, is far too short. If I have learnt anything from this crisis over the last 5 years, it is that change happens over a much slower and longer timeframe.

Behavourially, there are too just too many pundits, talking heads, and "experts", expecting a rally up to 1425-1550, and very few expecting another fall. Expect a rough ride. I'll come back in 3-4 months to see how this fairs.

 

Good to see you here, Ecoface.

 

You certainly could be right, and I think there is probably a 50% or so probability (of lower lows) in my thinking.

But I do note that a large number seem to share this view, so a surprise is likely perhaps

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Gold definitely appears to obey the 144D SMA moving average.

 

phau.PNG

 

IMG_9598-Version-2-1.jpg

More sitting and waiting. It wasn't my thinking...

Great photo! Great comment and great sentiment!

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Good to see you here, Ecoface.

 

You certainly could be right, and I think there is probably a 50% or so probability (of lower lows) in my thinking.

But I do note that a large number seem to share this view, so a surprise is likely perhaps

 

Oh well; GS seems to call the exact same today.

 

http://blogs.marketwatch.com/thetell/2013/09/13/gold-under-1000-an-ounce-dont-rule-it-out-says-goldman-sachs/

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http://jessescrossroadscafe.blogspot.co.uk/2013/09/a-shocking-allegation-from-andrew.html

 

A Shocking Allegation From Andrew Maguire To Which the CFTC Must Respond Publicly, Or Answer To Congress

 

 

 

Andrew Maguire, a Britsh national who had testified before the CFTC in a public forum about the manipulation of silver a few years ago, has leveled a serious charge against the bank JP Morgan and the CFTC.

 

Marguie says that he knows that two JPM employees have come forward as whistle blowers, and have sought legal aid and protection, alleging that they have testimony and evidence that J P Morgan has willfully manipulated the gold and silver markets.

 

I do not know Andrew Maguire. I do not know if what he is saying is true or not.

 

But this ought not to be a matter of 'belief.' It is a matter of evidence and law.

 

After the stunning scandal that emerged in the wake of Bernie Madoff's confessing to one of the largest Ponzi schemes in history, it came to light that the SEC had long been suppressing investigation into allegations of his crimes, and was ignoring evidence which had been supplied to them over a period of years by Harry Markopolos.

 

And now we have what could be a similar situation.

 

Andrew Maguire claims that he has supplied evidence of market manipulation to the CFTC for some years, and further and even more damningly, two JPM employees have come forward and made similar allegations, with evidence that says they are correct.

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^Andrew Maguire is a regular guest on KingWorldNews Podcasts. He stands out from the other pundits as he has an English accent.

 

http://kingworldnews...st/Archive.html

 

Press F2 and you can type "andrew" to search the archive quickly.

 

He is also part of Coghlan Capital

http://www.coghlancapital.com/aboutus

 

and that site has some technical analysis food

http://www.coghlancapital.com/blog

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http://jessescrossroadscafe.blogspot.co.uk/2013/09/comex-deliverable-gold-bullion-has.html

 

COMEX Deliverable Gold Bullion Has Plunged By 78% in 2013 - Claims Per Ounce Highest On Record

 

 

 

 

brownben.JPG

The last time that the claims per ounce were nearly this high was in the late 1990's. At that time the central banks had to intervene to keep one or more bullion banks from faltering. It occurred during a period of coordinated bullion selling from the central banks into the market under the Washington Agreement, culminating in the notorious gold dumping known as Brown's Bottom. At least the Germans still have a receipt. That selling failed to hold the line, and shortly thereafter gold began its great bull market run.

"We looked into the abyss if the gold price rose further. A further rise would have taken down one or several trading houses, which might have taken down all the rest in their wake. Therefore at any price, at any cost, the central banks had to quell the gold price, manage it."

 

Sir Eddie George, Bank of England,
reportedly in private conversation
, September 1999

The first chart below shows that rather nicely. Nick Laird, the maestro of charts from Sharelynx.com, was kind enough to go back and pull all the available data. It helps to complete the picture don't you think?

 

One difference this time is that the fellows who examine the more detailed reports tell us that the big boy of the bullion banks, JP Morgan, is said to have already liquidated their large short position and gone net long gold. Perhaps they are well advised.

 

Deliverable 'dealer' gold, known as registered gold at the COMEX, has plunged a remarkable 78% during the vicious price smashing of gold in 2013.

 

This decline in gold available for delivery has not been matched by a similar decline in contracts bidding for that gold, known as the open interest.

 

Therefore the number of contracts for each ounce of deliverable gold has now reached a new all time high of about 57.8 claims per ounce, a level that has not ever been seen since Nixon closed the gold window.

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AGREED.

Better keep those fingers crossed.

The fingernails may or may not hold

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I am not surprised at the recent price action.

 

We are still in stage 1 - the 144dma is still falling, and we needed and still need a few months of consolidation to build a base.

 

The good news is that the faster moving 89dma is now flat, and the 144dma will flatten out quickly over the next couple of months as the 1600ish prices from earlier in the year fall out of the calculation. Paitience is required here.

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thanks for that - it is good to see Stan W's system at work, Van

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I was in MoneyWeek's Simon Popple's Metals and Miners newsletter.

 

And the performance of my portfolio since last November? Minus 47%. Good job I only risked a thousand bucks on it.

 

Still holding the stocks but cancelled the newsletter until, if, when matters improve.

 

I'm off to buy a house so that I stop speculating.

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Down to $1255 in London trading.

Looks very vulnerable now.

 

 

Biting my fingers and wondering if I should add to my core holding.

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The slow slide action and few postings here are like the OPPOSITE of a Rocket, I suppose

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