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@Goldfinger @lukejackson A very alpha male reading list if I might say so...
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@Samson @Goldfinger re 1,300 t of $gold flowed into $china in 2016. This is a complicated issue. Firstly, over 60% of China's gold consumption comes from the jewellery sector. Currently this industry does not need as much gold as before because retailers are shifting the strategy from volume in the past to margins. In the past they sell alot of 24k gold (low margin). Now they are pushing high margin products like gems and 18k. Secondly, in order to protect the yuan exchange rate, the PBOC 'suggested' the banks to import less gold. China is very likely to import less gold in 2017 vs 2016, as the import quota will be likely less this year.
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@F6 @GOldfinger China was ridiculed in the press when they stated their goal was to obtain 3000 tonnes, and they're nowhere near that now, after years of trying. But the banking sector in the west is so corrupt that they may actually sell all of thier central bank gold in order to supress the price, which is the only way that the Chinese central bank can achieve their goal. Banks themselves don't have any gold, or store any, and haven't for a very long time. ETFs are being drained of their gold by unit holders taking delivery, it may happen that China may seize their citizen's gold to depeg from the dollar and peg the Yuan to the gold price, or a weight of gold.
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@Goldfinger $LULU at lowest levels since 2015 in pre-market trading, below key $54 support level. $yogapants
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@Goldfinger $Trump tweet: "The Freedom Caucus will hurt the entire Republican agenda if they don't get on the team, & fast. We must fight them, & Dems, in 2018!" Healthcare plans not moving forward.
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@Goldfinger "TRUMP SAID TO STUDY WAYS TO PENALIZE CURRENCY MANIPULATORS" hmmmm....manipulators such as, every central bank on the planet?
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@Highheat @Goldfinger Never mind -,-
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@Goldfinger $Trump doesn't want a 'strong' dollar, he knows that a weaker currency will give him the only free lunch he can get in terms of the economy. Anybody betting on a strong USD here will be disappointed and there is no way the $Fed is hiking 4 times this year. Write that down. $gold
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@Goldfinger @Highheat I knew you would comment. My thoughts on manipulation and conspiracy in markets are nuanced. And yeah by the dictionary definition of the word manipulation, every CB is a manipulator, some much more than others.
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@nobshere @Goldfinger --no way the $Fed is hiking 4 times --- certainly not
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@Goldfinger Currency manipulators convention at Mar-A-Lago next weekend, yay ~~~> http://www.reuters.com/article/us-china-usa-idUSKBN1710PU $China
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@Highheat @Goldfinger I feel like we are growing closer with each day. #GoOil
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@mike @Goldfinger Raoul Paul Global Macro guru of RealVision TV https://www.realvision.com/publications respectively disagrees on the $DXY perhaps u might check out his interview on last nights Fast Money segment $CNBC
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@Goldfinger @mike I will need to check that out, on one hand he's calling for lower yields and the other hand a stronger DX? A bit odd.
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@Edp007 lol : wrote @Highheat " @Goldfinger I feel like we are growing closer with each day." you guys been dating a long time?
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@Highheat The biggest problem with fiat money is the it allows the counterfeiter to print enough money to manipulate every market. Case in point @Goldfinger pointing out there are a billion ounces of paper silver at the COMEX now. Until markets are allowed to clear and be free you can forget MAGA it's that simple.
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@Goldfinger Debt and deficits are going to explode in the next 30 years, CBO says: http://www.cnbc.com/2017/03/30/debt-and-deficits-are-going-to-explode-in-the-next-30-years-cbo-says.html
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@Goldfinger For such modest price action I have rarely seen so much skepticism and in some cases outright bearishness on a sector as I am experiencing on $gold miners currently. Sure this range has been frustrating and messy but if we remove all of our thoughts and biases and simply focus on price, it has been a normal and healthy consolidation: http://cdn.ceo.ca/1cdq6b5-GDX_Daily_3.30.2017.png+ I am BULLISH, not crazy long on leverage bullish, but I think prices climb the wall of worry and steadily move higher over the coming weeks. $GDX
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@RocketRed @Goldfinger worst months for Gold just ahead lets see how it shakes out
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@Goldfinger @RocketRed Fear of bearish seasonality is overdone, actually there is a seasonal tailwind until mid-May. $gold
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david @Goldfinger seems like it's easier for most ppl to stay bearish and be surprised when sentiment reverse, i'm still fascinated how quickly ppl can turn from bears to euforic bulls in this sector
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@Goldfinger @david It's the difference between wanting to be right vs. being effective and profitable. I don't care much about being right and when I notice that being right is starting to creep into my thinking I do my best to snap out of it. Most market participants don't get this distinction.
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@Goldfinger @Highheat $1250 is clearly a big strike price level. $gold
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@Highheat @Goldfinger Kind of fun to watch the chart painter bankers struggle to hold the beach ball under water
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@Goldfinger $Yogapants are worth $2 billion less than they were 20 hours ago.... $LULU
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@Goldfinger "I would really like to hear more $Fed speakers, we haven't had enough speeches from Fed governors recently." <~~~~ Said no one to no one else, ever.
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@Goldfinger @david That would be an emphatic no lol
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@Goldfinger @stateside National Bank of Canada $NA ?
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@Goldfinger @lnelson $NAK $NDM is sneaking up there, over $1.60 on NAK and could hit $2.00. I have no position.
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@Goldfinger @david Who is fighting against the $Fed and what does it mean to fight the Fed?
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david @Goldfinger i mean all the talk that they can't rise rates because economy, wages, everything is bad and gold should be rising only
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@Goldfinger @david In case you didn't notice we have some biased chatters on this forum ;) Not exactly the most objective crowd. I do believe the $Fed will raise 1-2 more times this year, and I also believe that economic growth will continue to undershoot the Fed's relatively optimistic forecasts. Secular headwinds facing the U.S. and other developed economies are pernicious and actually growing stronger over time.
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@Goldfinger @racker Yessssss we do!!
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@Goldfinger Calling someone a banker is like calling them a dirty word, actually worse. Kinda sad.
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@Goldfinger I like that $DGC insider purchase @racker, get ready for a takeout there this year. $gold
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@Goldfinger @david Booom!! Hit the nail on the head. We can sit on here all day chatting about theories and make up all kinds of stuff, and at the end of the day none of it matters until it makes prices move. I'd rather be on the profitable side of the trade than be right or look right in front of others.
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@Goldfinger @Highheat Ackman "stuck to his guns" with $VRX and he's still sticking to his guns with $HLF short trade despite significant evidence arising contrary to his thesis. Conviction is dangerous.
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@Highheat Can't help what somebody else does @Goldfinger
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@T dont fall in love with your investments comes to mind @Goldfinger
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@Goldfinger So. Many. Blog. Ideas. :)
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@HighROI @cole119 you are correct. 15 ema 3.28 and H&S neckline of 3.25 are areas of resistance confluence. Credit to @pamplonatrader and @goldfinger respectively.
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@Goldfinger @Markedtofuture Seems like author of that $NAK $NDM post thinks there's more upside left in the shares short term but is pretty pessimistic on project being advanced longer term.
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@Goldfinger $LULU doing a month of volume in a single day.
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@Goldfinger April is historically a strong month for the S&P 500: https://lplresearch.com/2017/03/29/will-we-see-april-showers-this-year/ $SPY
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@Markedtofuture @Goldfinger he was plugging $NAK $NDM hard for awhile. It is now about news or do those lower gaps get filled first?
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@Goldfinger You don't see this very often, both the 50-week and 200-week averages at exactly the same level to the penny despite much different trajectories: http://cdn.ceo.ca/1cdqnp8-Silver_Weekly_3.30.2017.png+ $Silver Also what if I told you the dollar index would be back above 100, yields would be higher, and stocks would be rallying 7 days in a row, how would silver be performing this week? Well it's still up 2% for the week despite all that.
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@Goldfinger "We are buying up shares as fast as we can" ~ $LULU CEO The company has a $100 million stock buyback in place which was announced in December 2016. In theory LULU could have completed its entire buyback allotment during today's trading session.
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@Goldfinger Uber passengers are most likely to leave their swimsuits behind on Tuesdays....huh? http://www.economist.com/blogs/gulliver/2017/03/losers
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@Goldfinger Major highway overpass in Atlanta just collapsed, get ready for tons of infrastructure talk this weekend.
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