The Club!

Hi Ian,


I hope, that it was only a glitch of any kind. Otherwise we would need to account for it in our EW counts

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Swiss Gold Referendum Fails: 78% Vote Against "Protecting The Country's Wealth"





When Gold was at 1900 USD, the Gold bugs told the people to protect their wealth by buying Gold hand over fist, all the way down to the 1100 region.

Since national banks have a habit of buying Gold when it is high, and selling Gold when it is low, maybe the people of Swiss did just the right thing at this time?

Hipiiiieeeeööääähhhh!
FXcube

I am as sure as i can be. There is absolutely no other explanations. In order for price to spike 150-200 bucks, it would require massive ETF buys going trough which would be seen on volume of Comex, and that didnt happen. If it was canceling of big shorts by investment banks, it would show on big change of their open orders for Comex, i checked all 5 big banks, and none had any decrease of shorts, in fact only increase. If it would have been physical purchase, it would only make sense if it was Russia, and Russia mainly does not operate on gold markets without China cooperation, plus no big purchase was signed in (aside of that 50 tons 2 weeks before) to signal such price spike. And again from price structure perspective 1 tick chart, that move up and then down makes no sense at all to be any buyer or seller doing it, it makes only sense to be some glitch, which is what most storys confirm it is. If price would spike to 1420 so quickly in proper price move backed by liquidity, there would be sea of naked shorts from investment banks that would be screaming in red and whole situation would even worsen probably, unles some serious additional shorts would be handled in which would leave footprint everywhere after that initial spike, and no volume-positions trough Comex confirms that.

As for gold bugs suggesting buys at 1900, there might have been some, but from what i have informations most of them suggested not to buy but most of most known bugs like Schiff and Morgan were selling then. For sure there were others that were suggesting to buy, but in financial markets if you want to have credible informations on trading fundamentals (which gold from all assets the most is, at least physical) you need to know who you can trust. Most gold bugs have very limited financial markets knowledge, in fact many of them even admit that, there is nothing wrong with that, but problem is that when they see gold bull signal they jump on it. For example when they see swiss referendum they go all crazy over it, thinking what will bull results do, and if it goes negative they dont care. They stick to plan that gold will go higher one day. Or for example when Schiff is faced with question why does he ignore manipulation in his analysis, he simply avoids question again, many of gold bugs are just as one sided propaganda like keynessian economists, simply becouse they live from getting as much people in as possible, no matter what happens to markets. Or then you have other bugs predicting complete crash in November, due to shortage of physical, completly discrediting power of Comex, which i keep saying all along, markets cannot collapse trough physical, not until China plans to do so, or some other different major event happens, but simply big increase of physical demand in cities cant do it, becouse it can be offset by dollars easy.
The point i am making on gold bugs is, that if we are investing/protecting wealth time matters. We are on this earth limited time, and simply investing in something that stays depreciated for 30 years geting all our wealth in it, just to harwest it few years before death bed awaits is not what investment shoul be about, which goes to point you were making and its right. And most gold bugs completly ignores that side. They are predicting fiat crash, which will happen for sure, but they mainly looking from wrong side, where trigger wont happen.

As for people of Swiss vote i think vote no was mistake for Swiss residents an investors. For overall global economy in short term it was saving vote, the way it was voted, especially for EUR zone and current USD financial war. But then again if vote would be yes, SNB would had to go full retard on negative rates, 1%-2% who knows how deep, becouse 1.200 would not be defenedable otherwise, so this would hurt a bit on Swiss economy and certainly bank deposits. So in the end yes vote would certainly bring a lot of new things, difficult things and some good things, it would turn USD currency war around, becouse it would defenetly block any further big EUR devaluation.
With that said now that the vote is no, i am waiting to see how far EURCHF travels, if it comes to 1.200 again next year early, SNB will cut rates i think ahead of ECB QE, which is signal i wait for to pre-position ahead of Draghi.

Hi Ian,

many thanks for the extended analysis. Well appreciated.

Regarding Gold and Elliott Wave:

many counts I have seen over the last weeks suggested, that the last low was the wave 5 low. From a momentum perspective, it would be quiet unusual for a commodity to end just below the wave 3 low.

Momentum wise we normally see much, and often enough, most momentum in wave 5 in commodities. Also, especially in Gold, the wave 5 is most of the time extended. Only very rarely so short as the proposed wave 5.

If I am right, and we do see more down from here, the Swiss people and their voting will perfectly fit in the overall bearish market sentiment of the market participants towards Gold.

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Submitted by Tyler Durden on 12/02/2014 14:43 -0500

Guess What Happened The Last Time The Price Of Oil Crashed Like This?

Read more at http://www.prophecynewswatch.com/201...JLGfwKt93XF.99

Hi Infinitus,

just stopped by to say thanks for your great EW analyzes and the collected news!
read a lot here, but post nothing, don´t want to drag down the overall level of this topic.

regards thodie

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Submitted by Tyler Durden on 12/02/2014 20:58 -0500



.........Better yet, take a clue from Iran:
"A billionaire businessman at the heart of a $2.6 billion state bank scam in Iran, the largest fraud case since the country's 1979 Islamic Revolution, was executed Saturday, state television reported.... A total of 39 defendants were convicted in the case. Four received death sentences, two got life sentences and the rest received sentences of up to 25 years in prison."
And guess what: nobody in Tehran has rigged the USDJPY, ramped the E-mini, or banged the close in gold in years.

GU weekly TF

nice site if you want to buy physical Gold in Germany

http://www.gold.de/preisvergleich,56,100-Gramm.html

EU 8h TF

playing the scenario, that we are in a wave 5 now, which unfolds as ending diagonal

ideal target area between 2290 and 2142

Daneric on Oil

https://3.bp.blogspot.com/-4Apqtibld.../s1600/oil.png

Keep in mind:

when an ending diagonal is finished, we do see a sharp snap-back to the origins of the ending diagonal most of the time.

So it can be a bit dangerous, to wait for the last few pips to unfold to the lower side (in this case)

@JLee2027 at ZH - "It's going to be a crash of Biblical proportions." and Greenskeeper_Carl at ZH - "ya, we are passed the point of no return, thats for sure"

THAT IS TRUE !!!

The problem is THAT there would be THE PROBLEM for all of us WHEN this BUBBLE SHIT HAPPENS (pardon me), if our economics remain dependable on $.

Best,
D.P.

Amen.

What a rigged world we are living in


when the ones, who can print ruthlessly, also use the money to buy something............ #



I call for guillotines

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Central Bank Buying Of S&P 500 Futures Extended Until End Of 2015