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Gold is Dead - 12/6/23

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Got your attention? 

Does anybody really give a damn about it anymore? Or are we living in the past in this Crypto Age? 

Gold Got There Fast But Race is Over

Meanwhile, the rangebound slop in stocks goes on and on. 

I don't like it, but have been trading it somewhat ok. Actually made a few bucks with a couple of oil servicers on the short side yesterday but went home long one little stock, about which I know nothing. Nothing. It's just a chart that popped up on my screens and it looked like it might go up overnight. But overall, the pickins were slim. Real slim. 

And so the hourly chart of the ES 24 hour S&P futures looks a little 2-3 day cycle toppy here, having not quite tagged an apparent cycle projection of 4585. There's still a chance that it could make a run at a 5 day cycle high testing Tuesday's high of 4599 by Friday. Coin flip, but I'll take it. Just a feeling. 


Over in the bond market, the 10 year yield has reached a 13 week cycle projection of 4.18. Here's the long term weekly chart. Would you be a buyer of fixed income here. Wall Street has been telling us to buy bonds. Who are we to disbelieve them. 


Then there's this inexplicable correlation of the EUR/USD acting as a leading indicator for stocks this year. The lead time has been not quite 2 weeks. 

I can't think of a single reason why this should work.  But it has, 5 out of 7 times over this year. 



For moron the markets, see:

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41 minutes ago, fxfox said:

Who has the pants on? The Treasury or the FED?

I say. The Treasury.

Yellen will do ANYTHING to prevent a serious downmove in 2024.

It is all about the election in 2024.

Treasury, Fed, and everyone in the whole world who's wealth is high measured in asset prices, and little people too, are on board with more central bank money. Everywhere, everyone.  Nobody is against it. And everyone knows more is coming.

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3 hours ago, BreakOut said:

I thought I had discovered your secret sentiment indicator.  Like the kid who accidentally took a picture of Clark Kent changing into Superman on the old TV show.

Two all beef patties...

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Gold is shit. Look at returns since 2009 for equities vs gold etc

Its paying completely nothing.

The whole story is based on Russian stories that America sill go bankrupt and dollar is worthless. They keep talking about this stories i guess since 70ties of last century.


Lets focus on equities, bonds and crypto like BTC.

Why BTC? because its better for mafia and all scumbags. Really. Im pretty sure that 50% of money flowing to crypto is drugs, money laundering etc  Thats why there is a bright future ahead of btc. Unless all big gov kill this channel for mafia but i dont think it will happens.

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