Author Topic: Is Richard Russell Right?  (Read 11390 times)

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Offline pandamania

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Re: Is Richard Russell Right?
« Reply #15 on: October 31, 2012, 04:19:57 PM »
Richard Russell makes alot of sense.  $10,000 oz gold.  How much will silver be?  Precious metals have no where to go but up in the long term.   Maybe in the short term we could have another price destruction like last year?   Maybe it is just a manipulated and temporary drop in price?............ ..
http://www.silverseek.com/article/silver-market-update-6686
 

Pandamonium,

I believe that this recent relatively mild correction was just a temporary drop in price.

I have a lot of respect for Clive Maund and agree with his assessment much of the time. With all due respect to Clive I think it is very likely that the correction has run its course and that much higher metals prices lie ahead. Hopefully this will give forum members positive things to discuss in the coming months (years).

It also appears that the stock market is very vulnerable, except for metals stocks which could benefit greatly providing that the metals market starts to take off from this area. Should the market go south in a meaningful way all that money will have to go somewhere, perhaps into metals, metal stocks and coins. Is there a more logical choice at this time?

Regards,

Pandamania

Offline pandamonium

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Re: Is Richard Russell Right?
« Reply #16 on: October 31, 2012, 05:12:04 PM »
I agree.  The stock market, w/ the exception of mining related stocks, is headed for a dumpster dive.   I encourage all my friends to buy bullion and MCC.  Most have and are happy.  One said he will buy Ford stock.  Sucker born every minute.  The majority of people will be shocked at how high precious metals will climb.  There is an ocean of paper money and growing daily.  The only safety net is precious metals.  That flood of cash is headed into physical gold/silver and out of paper gold/silver.  Most predictions are for the price increase to start after the election.  Expect panic for those in the stock market and not metals.  No need for us to panic, maybe a toast w/ a large margarita..............

Offline pandamania

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Re: Is Richard Russell Right?
« Reply #17 on: October 31, 2012, 05:45:53 PM »
Providing we`re right are you buying or is it my turn?

Offline davidt3251

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Re: Is Richard Russell Right?
« Reply #18 on: October 31, 2012, 09:52:36 PM »
Eric Sprott buys silver and silver mining stocks. I like Eric Sprott.

Offline pandamania

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Re: Is Richard Russell Right?
« Reply #19 on: August 15, 2013, 04:18:23 PM »
According to Richard Russell`s criteria it looks like we have a breakout in metals:

http://www.321gold.com/editorials/russell/russell081413.html

This has been a very convincing move in gold stocks, which appear to be leading the metals market higher.

The stock market may well have topped and there is a strong inverse relationship between gold stocks and common stocks. It looks positive for continued strength in metals. Quality MCC`s are becoming harder to find by the day.

Offline davidt3251

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Re: Is Richard Russell Right?
« Reply #20 on: August 15, 2013, 06:58:00 PM »
Current sentiment for precious metals is 100% bullish. Thats a red flag to traders.

Silver is over 25% up from its lows a few weeks ago.

Silver is also very overbought here:
http://stockcharts.com/h-sc/ui

The obvious buy sign was the 2nd double bottom in silver this summer.

The risk reward isnt great here for the shortterm, medium term is ok, sure silver may power higher for weeks, or it could correct down again.

Offline NBM

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Re: Is Richard Russell Right?
« Reply #21 on: August 15, 2013, 09:28:42 PM »
A little dated but should give an idea of where we are.

http://www.majormarketmovements.blogspot.com/2013/08/mmm-weekend-update-8-11-13.html

...and this from Ilya Repin from June 22.


Offline pandamonium

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Re: Is Richard Russell Right?
« Reply #22 on: August 16, 2013, 09:54:14 PM »
We may be in that time frame where there is little gold/silver to supply the huge demand.   IF so then Comex will default.  The paper gold/silver ratio of 100 to 1 oz of physical gold/silver will unwind.   China has huge upcoming problems like their housing bubble popping which amounts to 20% or 1/3 of their entire economy as seen on 60 min.   However, most all articles worldwide agree that the weak US dollar has unsustainable debt and $200 trillion in derivatives.  So the Yuan and other currencies look much more attractive.  He who has the gold makes the rules.  The next 6 months are going to be "very interesting" (stated on TV show Laugh In).   Today, prices are cheap so a good time to buy.  If/when the Yuan moves up, what will that do to values of MCC?  It doesn't take a brain sturgeon to figure that out...........  :)   


http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/8/15_We_Are_Very_Late_In_The_End_Game_-_Its_Close_To_Game_Over.html

Offline davidt3251

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Re: Is Richard Russell Right?
« Reply #23 on: August 17, 2013, 04:05:39 PM »
Registered gold has dropped 60% but silver in Comez warehouses has only dropped 12%.
http://news.goldseek.com/GoldSeek/1376413284.php

-central banks only buying gold?
-asans buying gold in quantity over silver?

Regardless, it appears that there are still sufficient silver stocks.

Offline NBM

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Re: Is Richard Russell Right?
« Reply #24 on: August 17, 2013, 06:11:45 PM »
Registered gold has dropped 60% but silver in Comez warehouses has only dropped 12%.
http://news.goldseek.com/GoldSeek/1376413284.php

-central banks only buying gold?
-asans buying gold in quantity over silver?

Regardless, it appears that there are still sufficient silver stocks.


Could they be using silver to back their gold deficits?

Offline pandamonium

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Offline davidt3251

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Re: Is Richard Russell Right?
« Reply #26 on: August 26, 2013, 10:59:33 PM »
If I were a betting man I would say we're looking at a correction in silver.

Offline Hippanda

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Re: Is Richard Russell Right?
« Reply #27 on: August 26, 2013, 11:42:40 PM »
Yes, I think that's about to happen.  And I am a betting man.  ;)

Short term?
Gold Oversold Bounce or New Bull Market?
http://www.zerohedge.com/contributed/2013-08-26/gold-oversold-bounce-or-new-bull-market

Long term?
The future demands they keep printing paper.
"He who speaks without modesty will find it difficult to make his words good."

Confucius

Offline Hippanda

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Re: Is Richard Russell Right?
« Reply #28 on: August 27, 2013, 01:50:32 PM »
Evidence points to : Richard Russell was not right.
Not when the article was written in Nov 2011 with gold at $1781 and he was predicting up.

I like RR, he has a nice folksy writing style. Likeable. July 25 2013 he was cautiously liking gold again. Good call.

But it just points out, when the "gurus" are wildly bullish, sell. When even the leading "gurus" have thrown in the towel, buy.

« Last Edit: August 27, 2013, 02:24:09 PM by Hippanda »
"He who speaks without modesty will find it difficult to make his words good."

Confucius

Offline davidt3251

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Re: Is Richard Russell Right?
« Reply #29 on: August 27, 2013, 07:40:08 PM »
Manfred Zimmel called this entire gold correction the best. He is consistently ranked one of the top market timers at Timers Digest.

He correctly called the gold bear when most were bullish:

    Already 6 months ago the premium subscribers of Amanita Market Forecasting were warned of gold. Also, the December 4, 2012 free Amanita newsletter (written in late November with gold near $1,750) already red-flagged gold, to quote: "The gold bugs don't like to hear that but without doubt the precious metals are an ugly investment *today*..." I made this statement with - or in spite of? - my background of being perhaps the only forecaster who called the beginning of the gold market. In 2000 a multi-year bull market was projected to begin either in early April or May 2001 - as a matter of fact, it started on April 2, 2001.
    In December 2012 this super-bearish gold call was corroborated in several interviews with European print media (link).
    On January 29, 2013 with gold trading just short of $1,700 I wrote in the protected premium area (2-5 updates a month on average): "While my assessment for the precious metals sector has deteriorated a lot the past months, my outlook now suggests the ultimate nightmare. [...] the 'trapdoor to hell' is open & $500-$1,000 is not just realistic but likely. [...] Maybe I am now one of the biggest gold bears on the planet, which is a huge caesura." This unprecedented warning was issued just in time, as the plunge started in February...

http://www.amanita.at/Startseitewillkommen/detail.php?id=142