What Happens To Gold And Silver Next? Look Out Below?

GM folks-

quick note, for our proxy with GLD, lets see if they can fill the first gap.

more later

Interesting interview with Jim Rogers, legendary co-founder of the Quantum Fund with George Soros, author of Hot Commodities, and chairman of the private Beeland Holdings.


















http://bullmarketthinking.com/jim-r...this-decade/

Today we got a second day of bounce from gold while silver took a pause.

Lets look on our proxies where both these stand

GLD- up into the gap. 122.88 is what we need to be looking at. Can gold stay in the gap, fill it and close it? That is the question, this 122.88 on the low end needs to be watched for now.

SLV- did nothing today. Here we are looking at 19.47 which first gets it into the gap. At this stage, SLV hasn't even gone into the gap so watch that.

So first we need to see these gaps filled, then watch as gold and silver work on the second gap fill. Doesn't this seem familiar? Well it is,,, because this same price action happened back in 4/15. We saw gold first go into the gap, almost fill it. Silver on the other hand, never filled that gap and eventually was knocked down.

So for now lets see if this turns into a narrow range trading range again. Be patient and give it time as I always say. Finally, repeat after me "I will not spend loads of cash on gold and silver for now". In other words, this is not the time to be buying, don't feel that gold and silver are done going lower and certainly do not feel that because the financial media is saying the worst is over that they are right and that indeed they will be right. Rather pay attention closely to the price and its movements.

I don't pretend to understand Yup's methodology. I do respect results. And I especially respect it from someone that doesn't have any skin in the game. Meaning he is not trolling for clients.

Maybe, just maybe he is just what he says he is. Someone who has done well and just wants to help others.

In any event I see no profit in following a thread you find disagreeable. While at the same time disparaging the posters remarks. There are thousands of threads on this board and I don't waste my time on those that I don't find informative.

Agreed with Kendall. Everything yups been saying is actually directly related to the facts on the ground, the stuff on silver pumping sites is what has nothing to do with it. Hes essentially just saying to watch the price and its behavior which gives you clues about its most likely next move. Its the same thing you would do with every other stock.

If any of the people who are pushing metals publicly actually believed what they were saying they wouldnt say a word about it and would be quietly buying up as much as they possibly could while they could. If you find a river you can pan for good amounts of gold you dont and tell all your friends and invite people to come take it, you quietly get as much as you can and once youre satisfied you got all the good stuff then you might tell some people a story about it years later.

Anjohl, If you don't like or disagree with what is being posted, then don't read the thread. Your comments are offensive to say the least. You seem to disagree with all of Yupp's analysis. I'm curious Anjohl, what are your views on the PM market. Maybe you should start a thread of your own. If this comes across harsh, it was meant to.



Yupp, My apologies for going off topic.

People who run business would easily sell at a 5% markup knowing they can restock and sell again and again at a 5% markup. Who wants inventory risk or hedging expense. If you are in the business of selling you are concerned with volume and turnover not investing in the metals themselves.

Sadly, many times we as humans allow our strong bias for something to blind us from what is true and factual. As in the case of gold and silver, the price action, which never lies, is telling us that it is being dumped by institutional investors and funds. There is no serious buying going on.

An, in his case, wishes to disregard all the signals which are based on fact that gold and silver are going lower and not going anywhere. Why he does this I dont know but I can only imagine he has a strong bias towards gold and silver no matter what, which I think is pretty dangerous and reckless at this stage.

He is free to have his opinion and I do this for everyone, for the folks who can understand the logical progression of price movements. If the case was that we should be buying gold and silver, I would be laying out the reasons why price is saying we should be buyers. However, price is saying, stay away for now, be careful going forward.

Unfortunately, the public and yes even traders fall into the strong opinion/ego crowd where no matter what, they are sure that "X", no matter what, has to be bought or sold, whatever that asset is. But that is how markets are, how they react with humans. The dangerous thing is tho, only the market has the final ultimate say, and it gives clues, warnings and hints as to what it is saying about a certain asset and its direction. To go against it is never a winning proposition.

I was thinking the other day, I STILL keep hearing those commercials on radio about how now is the time to buy gold and how to protect yourself from the coming financial implosion....while gold and silver continue to fall. No serious money is buying gold and silver, they are selling it or already have sold out. If there was serious fund buying, we would not be at yearly lows, the volume would show us buyers with strong hands. We have none of that. No one is quietly buying gold nor silver. Prices dont slide when there is buying, rather they stabilize. Perhaps we need to see and hear more of the public start to agonize publicly how they are done with gold, how they are underwater and sick of it, perhaps a big nationwide closure of these "we buy your gold " shops and more and more front page newspaper and magazine covers stating "the death of gold" which might give us a clue that we are getting closer to some sort of floor. For now tho, I still hear the silly commercials about how you must buy gold now.

more later