“She comes for you & your wealth!”
First an update: the signals service at C2 has been taken down … why?
… well, apparently nobody gives a crap about GLD [ETF for gold]and/or
SPY [ETF for SP500] options trading … and quite frankly, I’m not in the
habit of paying for things nobody uses or wants … yea sure, there are some
who are gonna be disappointed, but that’s life in the big city … so, no more
C2 signals.
For traders, C2 is rather disappointing … their interface is slow and clunky,
they don’t allow trading in XAUUSD, and opening an account with them is a
hassle, not to mention coordinating any signals to your smartphone, which is
a major pain in the ass … quite frankly, their developers need to go back to
the drawing board.
In addition, I’m going to be adding silver [XAGUSD] to our covered markets
… I’ll comment from time-to-time on gold’s sister metal, and may even trade
it if opportunities present itself … the spread is good, RT commissions
meaningless in the scheme of things relative to the market, and it’s ranges
are picking up … “perhaps it’s not the dead market I thought it was, but simply
sleeping biding its time” … we’ll see. I’ll write more on silver in an upcoming
blog post … more then.
Next up is the weekly data … gold 20 Day Range MA’s a tad higher, but
nothing significant, while the stock indices continue to see lower sloping
ranges and lower volatility … “man o’ man have the manipulators taken the
stock indices and hung ‘em out to dry over the last 7 - 10 weeks" … as I’ve said
before, the Elites don’t like volatility in their stock portfolios, just a slow move
higher with no hiccups … and what the 0.001% want is what the FED does,
make no mistake about that. Directly below the gold & SP500 charts.
click on any chart to enlarge
Given everything that has happened over the last 6 months, it’s amazing to me
the lack of movement and/or volatility gold has exhibited … whatever it’s
shown, it’s pathetic given the news and data we see on an everyday basis. Add
to that China, and their incredible thirst for physical metal, and we’re only a
hundred bucks and change off the bottom of the cyclical low seen in August.
Just how big an appetite does China have? … feast your eyes on the chart
below.
“Anybody see a trend here? … Bueller? … Bueller”?
Add to this exploding sovereign debt [S&P forecasts over $50 TRILLION this
year], exploding private debt issuance, and the fact that every major economy
in the world is about to unleash QE∞ again, and you tell me how gold remains
unchanged or lower going forward? So far, watching gold come off the August
2018 bottom, is like watching the fattest kid in 6th grade run up the hill out
back of the Junior High, with his pants falling down around his ankles … he
eventually gets there, but it’s not pretty. “Well, he’s about ready to pass the
baton to Usain Bolt, if gold gets above 1360 - 1370-ish, cuz what happens then is
that every High School kid in the world looks at a gold chart, sees the weekly
and/or monthly breakout, and all hell breaks loose in short order” … want to see
what that might look like? … feast your eyes on a long term daily Palladium
chart [going back to about 2000, about 19 years], courtesy of Bullion Star
[Singapore], directly below.
When long term resistance is taken out [first black line], the market blasts
higher … then on a correction, what used to be resistance becomes support
[second black line to the right of the first one], and then the market literally
explodes higher, and Friday’s close of $1500 per Oz. is an all time record.
And while Palladium bottomed at the same time as gold did back in August
2018, gold is up about 15%, while Palladium has almost doubled in price from
the mid 800’s to 1500 per Oz. … “and what set it off, was the break upwards
where everybody and their brother started buying when it broke long term
resistance … at some point, gold joins the club”!
We’ll see what happens this week … onto tomorrow mi amigos
… Onward & Upward!!
-vegas
OPERATIONAL, AS WELL AS OUR C2 OPTIONS ADVISORY
SERVICE. DETAILS IN “DOWNLOAD LINKS” SECTION IN
RIGHT HAND COLUMN. START YOUR JOURNEY FROM
WHERE YOU ARE AT TO “ESCAPE TO SUCCESS”!
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