Posts by Melissa Sanchez17

brightviper48 said:Is gold currently undergoing Elliott corrective waves over these last few months? Perhaps it might be wise to ride that C wave once it actually kicks in...

Hey, can I pick your brain for a second about all this Fibonacci stuff and the wave theory you’re talking about? I’m pretty much clueless when it comes to this technical side, but I'm genuinely curious. Like, how many people out there are staring at charts right now thinking exactly what you are? And if a massive crowd of traders uses the exact same tools and lands on the same conclusions, how do you even play that? Do you just go against the grain and trade the opposite of whatever the "consensus" says?😕

Anthony Evans78 said:It’s pretty interesting how we're looking at May data while the Federal Reserve went absolutely overboard with their buying spree in June. 🙂
Just like any other manipulation, this won't last forever; eventually, the fundamentals will take back control.
Go ahead and trade if you want, but trying to play in an environment like this? It’s pure madness. 🙂

Fundamentals vs. evo Morales 😂

http://www.zerohedge.com/news/south-...argest-silver-

Anthony Evans78 said:"Scandals"? This is, without exaggeration, the biggest financial scam in history. The sad part is that 99.9% of people don't grasp how much money was stolen from them by this "scandal," yet they know every single detail about that crazy Scientologist's divorce.
And you're wrong about QE. Just because the Federal Reserve isn't announcing QE doesn't mean it isn't happening—any time the Federal Reserve "buys" US Treasuries, that's effectively QE. Besides, central banks haven't shown they know how to do anything else besides printing money; they've proven that countless times.
Not only did QE fail to ease the crisis, it actually made things worse, and unemployment in the US remains abnormally high, even if you look at those fairy-tale official statistics.
In a normal market, precious metal prices would be climbing, but here they're being crushed by blatant manipulation while everyone just watches.
But once people finally decide to wake up and realize what an illusion they've been living in, it'll be too late, and everyone will be asking themselves where their money went.

So many people went out and signed for those loans without having the slightest clue what a variable interest rate actually meant—let alone what LIBOR even was. They just blindly signed every single contract put in front of them. 😍
Quantitative Easing is coming—it’s a mathematical certainty at this point—it’s just a matter of when they pull the trigger. And let me tell you, the next round of QE is going to be absolutely massive, totally dwarfing everything we've seen before. I’m personally betting they won't touch it until after the elections, though, mostly because of what lonehawk5 was saying earlier about the timing. But man, once the dust settles on the election? Things could get ugly fast—and yeah, I'm including the potential for things to kick off with Iran or Syria in that mess. Honestly, the only thing keeping the US Dollar afloat right now is the fact that we still have people like van rumpney Baros running around in the background. 😍

quiettrucker12 said:We might be looking at a double top forming in the US Dollar.

Look, there are a million different ways this plays out. The whole game is just trying to catch the one move that actually matters. 😉

analogharbor44 said:Where on earth are you getting these wild theories from?

Straight out of my sleeve 😍. Look, the US Dollar is gaining strength, 10-year US Treasuries are sitting at 1.5% right now—and honestly, I wouldn't be surprised if they hit 1.3 before we know it. We'll see how it plays out. In the meantime, I just need to survive yet another pointless European Union summit today 🙂

It’s finally happening! The Bank of England is printing money again, and the Federal Reserve just slashed rates. Plus, we’ve got that US jobs report coming up next.

+ And don't forget this. Gold is heading straight for $1500.

http://www.zerohedge.com/news/adp-sa...ufacturing-jobs

placidlynx43 said:Honestly, whatever happens at the summit isn't going to move the needle for gold or silver much at all. There’s a way more significant event looming for silver—Black Friday this coming Friday the 29th. If you actually bother to look at the charts I've attached, it’s pretty obvious there's a real risk of silver sliding down to the $22-$23 range over the next couple of weeks.
http://www.tfmetalsreport.com/blog/3963/lookout-part-ii
On the flip side, though—and as George Burns points out—the Cartel's net short positions have shrunk dramatically. That basically means the Cartel could be looking to exit their shorts almost entirely very soon. That would be a massive green flag for both silver and gold to rally. But before we get to that party, I’m honestly getting more and more worried that the risk of gold and silver dropping toward $1450 and $22-$23 is growing by the day.

Something along those lines regarding this topic:

Silver Has broken The lows going Back to November 2010, this is NOT good technically. Silver Has clearly broken down for The short term and is in a bear market, we believe the low for silver will be between the $17.50-$22.50 range.

Walter Barrett8 said:What’s your take on how prices are going to react once tomorrow's summit wraps up? 🙂

here’s the latest news from tonight

Nov 19th — The EU leaders just finished the group photo op and are probably grabbing dinner now—still zero signs of anything actually solving the eurozone crisis.

🤣

Amy Sanchez2 said:Alright, look, sure, that graph basically proves that currencies are losing their value against gold—honestly, they're losing value against just about everything else these days—but it doesn't actually touch on why gold has skyrocketed sevenfold while the US dollar has managed to tank by 25% over the last decade alone.😕

Bull market?

Well, this caught me completely off guard—total curveball. That sale lasted for what, a single day? And now oil prices have already tanked 😕

dustyheron5 said:It reminds me of that famous summit where everyone pledged to ramp up exports to bail themselves out of the crisis... only for a minister from Singapore to take the podium and ask the room one simple question: who's actually going to buy all this stuff? 😂😂😂

At current rates, gold could hit $1580—provided Ben doesn't pull the trigger on Quantitative Easing 3 or OT2. 🤣

Word on the street is that they're moving forward with operation twist

Things are starting to boil over at the summit—one of those big-shot G7 meetings where everyone’s just pointing fingers and playing the blame game. 😁

quiettrucker12 said:Honestly, it looks to me like gold doesn't give a damn about Quantitative Easing right now—or even the Dollar. We might see a little correction, but it'll be short-lived before we head straight for 1700.

I'm gonna have to disagree with you there. The stock markets are holding steady, unemployment is hovering around 8%... plus, they aren't pulling the trigger on Quantitative Easing 3 unless the DJIA drops below 10,000. At this rate? It's not happening. And if that doesn't happen, gold is probably going to slide down about 50 bucks. Guess we'll find out in the next day or two.😍

check out what these analysts are saying

http://www.zerohedge.com/news/case-n...00-says-socgen

Walter Barrett8 said:So, does a half percent drop mean we should expect prices to plummet any time now? 🙂

Oh, you can bet on a dip coming mid-week—probably Wednesday or Thursday 😍

Honestly, I think those Greek leftists are nothing more than total posers. Once that studio scandal hits the fan, the extreme fascist right won't even touch a seat in Parliament—those votes are just going straight to the pro-EU right-wing parties.
If Greece decides to bail on the eurozone, or if the whole euro thing starts falling apart, don't hold your breath waiting for a bailout from anyone—not the US, not China, nobody. You can bet on it. If the FED starts printing dollars too early, it’ll strip away any leverage Obama has, and that isn't happening because he must be re-elected (just look back at that conversation with Medvedev) 😍

http://www.inflateordie.com/files/Wh...06-14-2012.pdf

Dropping this here—seems like an interesting read to me.

Anyway, what’s the word on next week regarding the Federal Reserve? Personally, I’m not feeling like Quantitative Easing is actually gonna happen.

lonehawk5 said:Shorter? It’s been over 44 hours... that's anything but short.
Why now, though? There isn't even a single sign that one side has gained the upper hand...

That colleague of ours is pretty interesting—kind of a wild card. Maybe he’s actually got his ear to the ground at the source 😉
like "Mary at the drug store"

hollowmoose21 said:Duh. Of course it is. That’s my whole point. You really think more people wouldn't be dumping cash into gold if they weren't getting hammered by that tax?

I honestly don't think the number of investors would change much. I mean, people aren't going to start dumping cash into precious metals just because they saved a few bucks on taxes—though, hey, who knows. If we had a massive retailer like Walmart opening up dedicated bullion counters in every major US city🤷

The people out there—myself included—who were looking to pick up some gold or silver actually went out and did it. The only real difference would be that instead of a tiny handful of people bringing gold and silver into the US, everyone and their mother would be doing it.

hollowmoose21 said:Sorry, but that "forbidden fruit" argument sounds more like hippie nonsense than actual economics.
In that light, do you honestly think gold is more popular in California, where we deal with luxury taxes, compared to somewhere like Austria where you can buy gold without being hit by those kinds of taxes?
And I’m not even talking about outright confiscation. I’m talking about all the different moves that could kill the incentive to hold or trade gold.

Black market? Let me ask you something. How many of you guys who bought physical gold actually decided
to haul that gold across the border or bring it into the US to hide it at home? Reading this thread, I bet most of you just stashed it in a safety deposit box in whatever country you bought it in. Why?

I'll be the first to admit I did exactly that. Eventually, I moved it over to California. My reason? "Fear," plain and simple.
But seriously, isn't a massive tax like that basically just one big way to discourage people from buying?

hollowmoose21 said:Your comparison sucks. Why do you think I’m not out here manufacturing and peddling drugs? It’s because even though it's a massive payday, it's not worth it. 😁
And why would they need to knock on your door? They don't have to touch your gold as long as you keep it tucked away in a basement safe. But the second you try to take it out and spend it? Yeah, that's when the heat comes. 😁

Sure, legally speaking. But the Black market works wonders 😍 Just look at how people used to smuggle old currencies back in the day. I mean, even in parts of South America, people are still trading black market USD.
Besides, why would anyone bother chasing gold? That prehistoric relic 😕