Nice to see that I can still call the micro moves in gold pretty well as we wait and see if we get that last smackdown I expect with the potential of a deflationary credit contraction. We can all admit that no one is perfect in calling markets but the one indicator that helps me and you the most decipher the market is what the dollar is doing. In my world I make the case for a stronger dollar as I pointed out in yesterday’s article Gold Miners Decline Coming And Caution On Buying Silver Coins.
If you want a clear picture of what I am thinking right now, I recommend you go over and read the over 138 comments now where I mix it up with many types of opinions, and you’ll hear the good and the bad. You’ll also hear I locked in 15% returns on DUST today with 3/4 of my position. Not bad for a 2 day return. Gold is still moving down in Asia and presently $1,311 and silver down to $19.36.
Dollar was up again today and gold and silver took a dive as selling picked up. It was such a good move that I had to take some off the table as anytime you get a 10% return I like to lock that in. Selling on the way up is the way to “trade” the ETFs like DUST. Holders of physical don’t necessarily trade as they hold onto what they believe is real wealth in gold and silver.
With Donald Trump securing the nomination for the Republican Party, you’ll hear me start to get a little more political in my analysis as I am jumping from the finished book Illusions of Wealth and heading straight into another political book I have been working on for 10 years called We the Serfs!. The timing couldn’t be better to write a political book and I will provide analysis that doesn’t lean one way or the other, as most try to pinpoint me, but that makes sense for all Americans. Somehow most just don’t get that we can move forward together and I know for a fact most don’t understand how our economy works (they will after the Illusions of Wealth book). So I am hitting the awareness button for all to see what I see and maybe, no matter who gets elected in November, we can work on some common goals without the need for government to tell us how great they are for us when they are self serving kings and queens.
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About Doug EberhardtDoug Eberhardt is a 28 year financial services veteran and precious metals broker selling gold and silver at 1% over wholesale cost. Doug has written a book to help investors understand how gold and silver fit into a diversified portfolio, how to buy gold and silver, and what metals to buy. The book; “Buy Gold and Silver Safely” is available by clicking here Contact phone number for Buy Gold and Silver Safely is 888-604-6534
Disclosure:
Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with capital you can’t afford to lose. This is neither a solicitation nor an offer to Purchase/Sell futures or options. No representation is being made that any account will or is likely to achieve gains or losses similar to those discussed in this outlook. The past track record of any trading system or methodology is not necessarily indicative of future results.
All trades, patterns, charts, systems, etc. discussed in this outlook and the product materials are for illustrative purposes only and not to be construed as specific advisory recommendations. All ideas and material presented are entirely those of the author.