Posts Tagged ‘greater fools’

So What’s Behind Moves In Gold?

Mish, on gold, Robert Prechter and a few thoughts on socionomics. – Ilene

So What’s Behind Moves In Gold?

gold stage coach, moves in goldCourtesy of Mish

In response to How Will China Handle The Yuan? I received many emails regarding a single statement I made: "Prechter, who does not view gold as money, thinks gold will collapse. Thus, not all deflationists think alike."

The first half of that statement "Prechter, who does not view gold as money" is an inaccurate representation of Prechter’s views.

Inquiring minds pointed out that the title of Chapter 1 in Prechter’s Gold and Silver eBook (a publication you can download for free) is "Gold Is Still Money".

Apologies go to Robert Prechter.

That out of the way, there are many things worthy of discussion from the same eBook. Please consider the following image snip.

From the chapter: Does Gold Always Go Up In Recessions and Depressions?

Click On Image To Read Text

When Does Gold Act Like Money?

While Prechter states "gold is still money", the above paragraph shows that he thinks gold acts differently when "gold is officially money".

On the other hand, I think gold is money and gold acts like it as well, regardless of whether or not governments make it "official". Please see Misconceptions about Gold for a detailed explanation.

In the eBook, Prechter notes "All the huge gains in gold have come when the economy was expanding".

That is a true statement. However, this is a true statement as well: "All the huge losses in gold have come when the economy was expanding."

Please consider the following charts.

Gold 1980 To 1988

$GOLD

click on chart for sharper image

Gold 1988 – 2000

Instead of asking "Does Gold Always Go Up In Recessions and Depressions?" one could easily ask "Does Gold Always Go Up In Expansions?"

Gold does not always do anything. However, given that recessions make up minimal periods from 1980 through 2000, this is an accurate representation of the period.

Gold 1980 – 2000

click on chart for sharper image

Gold collapsed from over $850 to just above $250 during one of the biggest expansionary periods in history. That is the reality and the charts show it perfectly well. Thus the statement…
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Zero Hedge

"Granite Islands And Backsplashes": Even Doublewide Trailers Are No Longer "Affordable"

Courtesy of ZeroHedge. View original post here.

Since the early 1900s, millions of Americans have relied on trailers as a source of no-frills, affordable housing.  In fact, roughly 22 million Americans live in trailer parks today, but the industry is hardly the stable source of affordable housing that it used to be...a lesson that 73-year-old Judy Goff of Naples, Florida recently discovered the hard way after Hurricane Irma ripped through her park and destroyed her home, along with roughly 1.8 million others.

As ...



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Chart School

Russell 2000 and Semiconductor New Highs / S&P Breaks

Courtesy of Declan.

The S&P broke higher to confirm a 'bear trap' and also closed at a new all-time high. Volume climbed to register an accumulation day but there were further losses in relative performance and continued losses in the MACD.


The Nasdaq posted a gap-driven 1% gain to bring it ever closer to channel resistance. It hasn't yet tagged resistance but it looks well placed to do so by the end of the week. Technical are all bullish.

...

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Phil's Favorites

Rogue State

 

Rogue State

How the guardians of nationhood conspire in its destruction.

By George Monbiot, published in the Guardian 18th November 2017 (Brexiters, beware: if the ties that bind us unravel, tyranny may soon follow)

What is this country we are asked to love? This might once have been an easy question to answer. National identity was built around a range of institutions, considered to represent the national interest. Rebellion against them was characterised as treason. But one by one, these institutions have been subverted from within. Look to the top to see treacher...



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Insider Scoop

The Urban Outfitters Q3 Print: Jefferies' Likes And Dislikes

Courtesy of Benzinga.

Related URBN 13 Key Technical Levels To Watch On Tuesday 5 Biggest Price Target Changes For Tuesday ...

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Digital Currencies

As Bitcoin Tops $8,200, Only 39% Of Survey Respondents Say It's A Bubble

Courtesy of ZeroHedge. View original post here.

Having first surged above $8000 overnight amid Zimbabwe's chaos, it appears uncertainty in the core of Europe has driven further demand for cryptocurrencu protection, sending Bitcoin to a new record high of $8247 - up 50% from the 'Bitcoin Cash' crash weekend lows.

...



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Biotech

The two obstacles that are holding back Alzheimer's research

Reminder: Pharmboy and Ilene are available to chat with Members, comments are found below each post.

 

The two obstacles that are holding back Alzheimer's research

Courtesy of Todd GoldeUniversity of Florida

Family members often become primary caregivers for loved ones with Alzheimer’s disease. tonkid/Shutterstock.com

Thirty years ago, scientists began to unlock the mysteries regarding the cause of Alzheimer’...



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ValueWalk

Robert Mugabe Under House Arrest, Military Takes Control Of Zimbabwe

By Andjela Radmilac. Originally published at ValueWalk.

Zimbabwe’s head of state, 93-year-old Robert Mugabe, has been placed under house arrest after what seems to be a military coup took place in the nation’s capital.

By U.S. Navy photo by Mass Communication Specialist 2nd Class Jesse B. Awalt/Released [Public domain], via Wikimedia CommonsRobert Mugabe is safe

Following numerous reports on social media late Thursday night about the increased military presence in Harare, the capital of Zimbabwe, the country’s military took...



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Members' Corner

An Interview with David Brin

Our guest David Brin is an astrophysicist, technology consultant, and best-selling author who speaks, writes, and advises on a range of topics including national defense, creativity, and space exploration. He is also a well-known and influential futurist (one of four “World's Best Futurists,” according to The Urban Developer), and it is his ideas on the future, specifically the future of civilization, that I hope to learn about here.   

Ilene: David, you base many of your predictions of the future on a theory of historica...



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Mapping The Market

Puts things in perspective

Courtesy of Jean-Luc

Puts things in perspective:

The circles don't look to be to scale much!

...

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OpTrader

Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Promotions

NewsWare: Watch Today's Webinar!

 

We have a great guest at today's webinar!

Bill Olsen from NewsWare will be giving us a fun and lively demonstration of the advantages that real-time news provides. NewsWare is a market intelligence tool for news. In today's data driven markets, it is truly beneficial to have a tool that delivers access to the professional sources where you can obtain the facts in real time.

Join our webinar, free, it's open to all. 

Just click here at 1 pm est and join in!

[For more information on NewsWare, click here. For a list of prices: NewsWar...



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Kimble Charting Solutions

Brazil; Waterfall in prices starting? Impact U.S.?

Courtesy of Chris Kimble.

Below looks at the Brazil ETF (EWZ) over the last decade. The rally over the past year has it facing a critical level, from a Power of the Pattern perspective.

CLICK ON CHART TO ENLARGE

EWZ is facing dual resistance at (1), while in a 9-year down trend of lower highs and lower lows. The counter trend rally over the past 17-months has it testing key falling resistance. Did the counter trend reflation rally just end at dual resistance???

If EWZ b...



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All About Trends

Mid-Day Update

Reminder: Harlan is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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