ATTENTION: ALL TORONTO AND SURROUNDING AREA RESOURCE INVESTORS
The Cambridge Conference is taking place this weekend and it will be as good as any given the state of commodity markets. The line-up of speakers is the best you’ll find at any conference in Canada and you’ll get a chance to meet with a number of great companies face-to-face. Peter Grandich, as always, will be a keynote speaker. You will have several opportunities to see him throughout Saturday and Sunday, please consult the agenda to see his speaking times and topics.
DON’T PAY TO ATTEND
Cambridge House will now be charging $20 entry fee at the door (not a gimmick, this is real) - BUT click on this link or the banner below and use our code (AGT9) to get in for free.
Second, AGORACOM will be meeting with members at our booth (#1006) on both Saturday (1:00) and Sunday (12:00). We will be drawing for cool prizes on the spot! Be sure to print off your profile page and bring it with you so you can enter the draw!
See you there!
Regards,
Peter and George
Anyone into Gold Charts?
Only A Fool Would Be Short Gold
Once again The Shorts Will be Wrong
There have been numerous pictures of the Gold chart posted around popular websites, but I have yet to see ‘The Neckline’ drawn correctly.
My interprtetation of ‘The Neckline’ is that it’s rising from the peak reached in the first week of July 2008, extending up to the peak reached in Mid-February 2009. Today, that rising Neckline is at 1025 which we touched several days ago and backed away.
A rising Neckline perhaps makes it a little bit tougher, but in the big picture of fundamentals, it’s irrelevant to become concerned that we failed to penetrate the Neckline recently.
How sad that the IMF is disposing of Gold Capital furthering the transfer of assets to the East. Gold always follows nations of economic strength and importance. As I’ve read, the Chinese want to buy the Gold at a bargain price. Supposedly, the sales will occur in stages, but we’re always deceived.
Maybe the Chinese will use U.S. Bonds for the purchase and that would be the buy of the Millenium even beating the land sale of Manhattan for $23.00 of trinkets to the Indians. Then we could look back to the Alaskan Land Purchase from Russia for about $13 Million Dollars, another great trading coup. Now we’re selling tons of IMF Gold for worthless paper?! The Chinese obviously have the deal within the history of Mankind. You see what I mean when I say that the U.S. Government is a ‘Catastrophe’. Hopefully Dick Morris hasn’t trade marked use of the word. But don’t worry about the United States trading skills, we have Goldman Sachs. That’s why there’s a revolving door between Goldman & the Treasury… We’ve got to sharpen their trading skills, but no luck yet!
Getting serious again, it’s rather Bullish that we’re gradually rising toward a new high for Gold and the recent new fallback will raise sentiment fear among investors. There’s a lot of interest to knock down the Gold price to accommodate the Chinese. The U.S. Government hates a rising Gold price and employed U.S. institutions to place huge Shorts on the Comex. It’s just too big to unwind easily without a price disruption upward. Collusion with the government could be a mistake here.
They’ll succeed a bit, but as we approach the $950.00 price they’ll be scrambling to cover the shorts. Sweat will pour off their heads thinking of the fundamental backdrop and the potential losses if the Gold price explodes. The irony is that ‘THEY’ will cause the Gold rice explosion and then the traders will jump aboard a rising price.
I suspect that we’ll see a further increase in the Short position posted as of September 22nd later in the week, and that will be the high point short position. From there, it will be a scramble to unwind soon enough.
This is a Major consolidation for Gold stretching 18 months now, and when it is finished the rise will be equally as long. The powers of influence could push the Gold price as low as $900, but the huge short position is Bullish, representing pent up buying power in the paper market. The Short Position is just too huge and foolish.
Yes, they’re sweating bullets with this short position and my opinion is that they’ll unwind enmasse at $950 causing an explosive rise. So down 5% or maybe perhaps 10%, for physical Gold. It’s just ordinary fluctuations and the ‘Shorts’ are our friends. They’re going to lose.
Peter and George,
It is Thursday night already. Did I miss the q&a post for the “Friday night” show ? Thanks.
[...] show is actually taking place on Saturday from the floor of the Cambridge Conference in Toronto (click here for your free pass as Cambridge is now charging $20 at the door) and you’re all invited to watch it live and [...]
[...] show is actually taking place on Saturday from the floor of the Cambridge Conference in Toronto (click here for your free pass as Cambridge is now charging $20 at the door) and you’re all invited to watch it live and [...]