The Phaserl


This Is The Type Of Market That Makes Billionaires…

by Tekoa Da Silva, Bull Market Thinking:

Following another month of choppy price action in gold, the metal was driven down this week in response to a trivial $10B taper announced by the U.S. Fed. General equities ironically surged to new all-time highs, yet again.

In weekend commentary, technical gold trader Gary Savage noted that the U.S. equities market initially started to collapse following the announcement, but likely due to market interventions, quickly surged upwards, maintaining the “status quo” of the marketplace over the last year.

When asked about gold and mining equities during an interview this week, Gary noted that we appear to be winding down into a “final bear market bottom”, which may occur over the next 2-3 weeks, punctuated by a retest of the “2007 c-wave top at $1030.”  That potential retest according to Gary, “[Is] the point where I think every short will cover, and that’s where you could probably get a bottom for this bear market.”

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4 comments to This Is The Type Of Market That Makes Billionaires…

  • K

    I’m down over 50% listening to these idiots. The game is rigged. They spit off the same junk over and over. Not only being down on the metals, but missed out on incredible market gains. I wish I had never fallen into this ‘fear based’ mind-set!

    • Guest

      I hear ya. Greg Hunter recently interviewed Eric Sprott. In the interview, Sprott predicted gold and silver will reach new all-time highs in 2014. I just don’t know what to believe. My stack is still underwater and will be until the price of silver reaches $30–my DCA.

      I wish I had been smart enough to buy stocks in late 2008. But I didn’t know that the Fed was about to embark on the greatest money printing spree in history.

  • Frank Zak

    The game is rigged, but not by whom you suspect.

    It is very unfortunate you people lost money by buying
    silver at $30.

    In 1980’s I saw silver go from $50 to $5. As long as silver
    is overproduced it will not be stable. It can only follow gold up

    These people have everyone worried about gold going below
    $1180 now, as if you are supposed to throw in the towel.

    I am an addicted silver bug for almost 40 years.

    Do not sell and swear you won’t buy it again, because
    you will.

    You must always cost average into silver down.

    In March the markets are set to explode with the major cycle. Silver will follow gold.
    If you can hang on till the Fed meeting week in March, try to do so.

    • Guest

      You say the same thing over and over, and it gets old. I have no intention of selling my precious metals. Why would I trade them for soon-to-be worthless pieces of paper? I know where the prices of gold and silver are going in the future. My frustration results from this wicked, rigged system that oppresses the common man, like myself. I’m not rich and never have been. I want to protect what little I’ve worked hard for. And it’s outrageous that conscientious people are punished for trying to do the right thing, while the wicked prosper.

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