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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (26821)	3/7/2017 2:50:29 PM
From: Goose94	Read Replies (1) \| Respond to of 205758

Gold: Notice the difference between JNUG and the HUI? I'd expect to see JNUG sniff-out some bottom fishing opportunities and to see a floor fas...ter than HUI and we're seeing this happen as I type. We'll see if it means much of a hill of beans.... LoL (see earlier post, below for context) # # # # Well, it sucks that after breaking the spirit of the gold accumulators so as to kill momentum, the cartel was able to move us from a formal breakout above $1,250 gold to a crushing of sentiment. Fears about the Federal Reserve interest rate normalization cycle and the March meeting is now seen as the primary reason for why gold and the rest of the precious metals sector turned down. But anyone that watches this market as closely as I do could see the sequence of what segments of the precious metals market turned down, when and how, and how this was a facilitated take-down effort and gold was actually rock solid even with rising expectations of a tighter Fed hand on the interest rate "lever" when gold was rising into and breaking out over $1,250. It was when gold leaped over $1,250 that the effort to attack miners went into over-drive. People that criticize this thesis by saying that miners lead are just not seeing the big picture. Miners were pushed down as an effort to break sentiment by attacking a sub-group of players in the overall precious metals space and the effort worked. I documented all of this and developed this thesis in real-time as it was happening and made this case on Silver Doctors SD Metals & Markets two shows ago (the last one with Dave Kranzler), and with posts on my Facebook wall, and with the last Welcome To Dystopia show recorded with Jason Burack. People will re-write history, but this was a multi-phase manipulation take-down, and it started with attacking the miners. Now, the sudden gloom and downward momentum has been strong enough that we are seeing a retest of $1,215, as I talked about yesterday: "Gold could test $1,220 very easily and even $1,215 but the lion's share of the damage is already done and we're just marking time before getting on the other side of the FOMC March 15th rate hike news." More context and comments are in that post and thread. See: https://www.facebook.com/EricDubin/posts/10212245867643074?pnref=story The regular Comex session just ended and we'll see if we do indeed see $1,215 hold. It's only Tuesday so it's not looking good. I do expect to see buyers step in to catch discounted gold and for them to do this before the FOMC March 15th rate hike announcement because they will be motivated to get in front of a buying on the news dynamic - many traders looking to catch a tradeable bounce will have this at the back of their minds and they'll look for an entry on any shift from downward momentum to horizontal range trading to a small shift in upward movement because the timing will be right as this will unfold in the next trading days, but it likely be with gold going still further below $1,215. smh...... Gold will be the metal to watch for setting a floor for the sector. We'll also see stability show-up in miners too, while silver might be weaker for an extra day. Kind of looks like that is what is playing out today in the aftermarket Comex session while other markets remain in normal hours (equity markets and miners, in particular). But again, it's early in the week and the number of trading days before March 15th make it harder to figure this out if a buying before the news dynamic proves to set in as early as tomorrow. It'll be easier to tell after we see the next London session so as to get a feel for where we are with the lunacy that has hit Comex. It's good to see that speculators looking at miners are taking an interest in JNUG and the range on today's trading with going back into the green in the last 100 minutes of equities market trading in the NY session fits with the horizontal move we've seen in gold in the last few hours. Hopefully, $1,215 will hold going into the London session and we'll see the bottom-fishing buying show up in the next 24 hours. The next 14 hours into the early London session will be really important and informative regarding the rest of the week's Comex action going into the FOMC meeting. Eric Dubin