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Looks like the resistance from all three down channels has been broken for a second time today.

I'm thinking that the gold price in euros is playing a role here as it tests the 600 region.

 

1 channel broken, but still we have the other 2 valid. monday often is used by professionals to collect money from amateurs, and then tuesday, they bash it. volume is low, oil testing upper subchannel band (i will be surprised if it breaks it), basicaly a consolidation , sideways movement before the big move, we still may go to 805 within the downtrend

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I found this, not relevant just hilarious. I think I am going to cancel my business trip to Pakistan next year.

 

:lol:

 

Might be a market for high line wellies. (No offense meant to our celtic bretheren)

 

Tom O'Brien in his show 17.10.08 1hr:33mins in argues we're going back up to $920... this might be useful:-

 

GLD201008.png

 

Excellent opinion on oil and commodities after that. If you go back to 1:15 Larry P reckons silver is set up for an easy $13 rise! Enjoy.

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:lol:

 

Might be a market for high line wellies. (No offense meant to our celtic bretheren)

 

Tom O'Brien in his show 17.10.08 1hr:33mins in argues we're going back up to $920... this might be useful:-

 

GLD201008.png

 

Excellent opinion on oil and commodities after that. If you go back to 1:15 Larry P reckons silver is set up for an easy $13 rise! Enjoy.

Have you got a link?

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Not sure if anyone has posted this yet:

 

18 October 2008 — GoldMoney Alert from James Turk

Gold's New Records

 

Importantly, the debasement of the dollar is becoming so profound as central banks create "unlimited" amounts, the gold cartel will no longer be able to stop the watchdog from barking by capping the gold price. I expect new record highs in gold against the dollar and the euro by the end of this year.

 

http://www.goldmoney.com/en/commentary.php#current

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From 321Gold.com:

 

http://www.321gold.com/editorials/moriarty...arty102108.html

 

Quote:

People who have been following this site know that I have been predicting a depression for years. It's here. Even the dolts in Washington are starting to figure it out. The credit system has ground to a halt. Commerce is on the verge of a complete breakdown. 18 hours after the bank holiday starts, the riots begin.

 

Physical gold and silver are insurance policies against financial chaos. We have financial chaos. You can still buy an insurance policy and that's the greatest deal in investment history. You think governments printing of $7 trillion dollars of kerosene dumped on a financial holocaust won't have an effect? It will.

 

The United States dollar is going to default soon. We have known since late 2002 that the US was in deep trouble. Treasure Secretary Paul O'Neill revealed the United States Government had a real debt of $44 trillion and it was growing at a rate of $2-$4 trillion per year. As of last year the debt was up to $59.1 trillion.

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Gold down. Oil down.

 

Dollar on steroids! Up to near 84! :o

 

A purely temporary phenomenon IMO.

 

Yes, after watching this whole thing derail itself in slow motion over a few years, I'm not yet quite ready to believe a bit of sticking tape has cured all the ills!

 

Fascinating turn of events though, it seems like this cat still has some tricks up it's sleeve...

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Yes, after watching this whole thing derail itself in slow motion over a few years, I'm not yet quite ready to believe a bit of sticking tape has cured all the ills!

 

Fascinating turn of events though, it seems like this cat still has some tricks up it's sleeve...

 

Certainly makes for an interesting sideshow.

 

The picture I have in mind for the dollar is the Titanic; straight up in the air before finally sinking. :)

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i noticed when the spot price is in the west it goes down, and when its in the east it rises.

to me this means the west is selling and the east is buying.

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Yep, roll away all the charts. Close the site down. Sell up all that useless metal you have lying about. Party's over. :lol:

 

 

If, like me, you’ve only been in PMs for the last 12 months or so it’s not been much of a party. Although to be fair, it’s been no write off either.

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... to me this means the west is selling and the east is buying.

Weighted by volume in gold, the West is stupid*, and the East is clever.

 

*Anyone, read about the 8-times multiple mortgage to some moronic City traders by HBoS? :rolleyes::lol:

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I have been looking at the hui index as per pnf charts...

 

Can someone explain to me what the hui actually is and why it is useful? (I only need the gist and not a lecture please!)

 

There seems to be far too much volatility in what I see in it as compared to just normal gold and silver...

 

This scares the crap out of me....

 

29vsjk.png

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Can someone explain to me what the hui actually is and why it is useful? (I only need the gist and not a lecture please!)

From: http://www.streetauthority.com/terms/index/goldbugs.asp

The (HUI) BUGS index is made up exclusively of mining stocks that do not hedge their gold positions more than a year-and-a-half into the future. This makes the BUGS Index much more profitable than the XAU when gold prices are rising, but can also compound its losses when gold declines. BUGS is an acronym for Basket of Unhedged Gold Stocks. The index was introduced on March 15, 1996 with a starting value of 200.

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I'm starting to think the derivative issue is going to be a slow deflationary drip, rather than the collapsing catalyst so many thought it would be. What else is in the mix that could send gold through the roof, do we have to wait for the dollar default? So far, whilst clearly the intervention has heavy inflationary overtones, I don't see any buckling or cracks in the system any more. It pains me to say this but they do seem to be dealing with everything in a controlled manner at least as well as they could given the mess they've got themselves in to. Do people see a slow death or do some still predict it will collapse under its own weight?

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Many thanks for that - just what i needed...

 

Looks like we are in for one bumpy ride...

 

If $HUI breaks through 198 - we are in trouble...and need buyers.

If $GOLD breaks through 740 - we are in trouble...and need buyers.

If $SILVER breaks through 9.0 - we are in trouble...and need buyers.

 

If I see a turnaround at these points and I will be especially watching Ker's 770-760 level, I will be in and out for profits...if I am feeling lucky!

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