Aug
3
2016

Current Thoughts for 8/3/2016

By: Doug Eberhardt Category: Current Thoughts on Gold and Silver Tags: ,

Gold fell as the dollar did bounce off of 95 today and someone over at Seeking Alpha took issue with the language I used in describing the 95 area as resistance, rather than his preferred term “support.” When I am challenged like this I respond with explanations on how my brain works, which is not like most brains work, and I am fine with it. I really don’t care what others think and how they may profess to “know it all” but haven’t ever written anything subjecting them to the same scrutiny they apply to those of us who write daily, weekly, monthly and use their real name in doing so.

For your reading pleasure:

They (samberpax) wrote;
Author (quoting me)  : “I gave my thoughts above on what to do if the dollar fell below 97. If fell to 95 which I pointed out in Current Thoughts with a chart yesterday that this level was resistance. The dollar has now bounced off of this mark and gold fell. The dollar has now bounced off of this mark and gold fell. “———————-…Sorry, but you do not make sense. (” If fell to 95 which I pointed out in Current Thoughts with a chart yesterday that this level was resistance.The dollar has now bounced off of this mark and gold fell.” )I am sure you meant to say: It fell to 95 which I pointed out in Current Thoughts with a chart yesterday that this level was support. The dollar has now bounced off of this mark and gold fell.
You seem to have problems with details. In any case, 92 is my target for the dollar before the bounce.
03 Aug 2016, 09:21 PM 

Doug Eberhardt , Contributor; 

Author’s reply »
samberpax, resistance is a line in the sand. It can break through lower or bounce off of it higher. Support is a line in the sand. It can break through lower or bounce off of it higher. You want to be an English or grammar cop and say I have a “problem with details” great. Looking at the chart I had in Current Thoughts was clear for my readers with how I presented it. Good luck with your target of 92. I am clear I am bullish on the dollar and it will hit 100 and higher again. What happens before then is tradeable and 95 is support and resistance depending on how you read charts. Forgive me for not seeing things the same way you do. But feel good about playing the game of trying to criticize every detail I write here. Naturally you are long gold right now, right? Gold down another $7 to $1,350 and dollar bounced off 95 (whatever you want to call it) to 95.51 presently. In other words, away from your 92 target.

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About Doug Eberhardt

Doug 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

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