A teaching moment on the nature of the gold cult
Posted on August 26, 2016,11:46 am by Trader Dan
https://traderdan.com/?p=13365
(
naar Europese tijd omgerekend, gisterenmiddag dus)
I wanted to share the following chart with the readers because this is perhaps one of the clearest examples that you will see of
what I call, “selective outrage” on the part of those whom I have dubbed “the gold cult”.
By “the gold cult” I am referring to those websites and gold promoters whose view of gold is that it must always go higher in
price and when it does not, it is because there are “sinister, evil powers” at work who are “manipulating its price” and preventing
it from rising.
Just this week, we watched gold experience a sharp selloff on Wednesday. Almost immediately,
the gold
cult websites (Zerohedge is their leader) were out with their breathless denunciations about “sellers smashing the gold
price by dumping huge amounts of gold within minutes”. They went on to say that “No seller attempting to maximize their profits
would sell in this fashion so clearly it was a takedown attempt on the metal by its foes”.
Note well – the complaints were all about the HUGE VOLUME involved in the selloff and that was pointed to as the proof that
this was a blatant takedown attempt.
Check out this chart with that in mind.
Notice the massive volume surge involved in today’s “Yellen induced rally”. It absolutely DWARFS the volume during
the down move on Wednesday.
How much would anyone be willing to wager that we will not hear one single complaint about this – “No BUYER, attempting
to obtain the best possible price for the metal would be so foolish as to buy in such size that they force the price higher, running
all the upside buy stops and guaranteeing that they will have to pay higher prices. This was an obvious and
blatant manipulation effort to mark up the price of gold by these evil, nefarious forces”
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Beste is altijd maar om gewoon je emoties weg te steken en zo clean mogelijk naar de markt te blijven kijken.
Dan Norcini (toch iemand die goud graag omhoog ziet gaan) ... blijft ALTIJD clean rapporteren, blijft in zijn
hart een goldbug, maar vervloekt al jaren lang de diehart goldcult websites
Iedereen kan proberen, om markten met praatjes omhoog of omlaag te krijgen, de zg verbale manipulatie.
Maar technisch kun je markten ALLEEN MAAR omhoog manipuleren ..... NIET omlaag (heb ik hier al eens uitgelegd)