Best of the Week
Most Popular
1. Five Charts That Show We Are on the Brink of an Unthinkable Financial Crisis- John_Mauldin
2.Bitcoin Parabolic Mania - Zeal_LLC
3.Bitcoin Doesn’t Exist – 2 - Raul_I_Meijer
4.Best Time / Month of Year to BUY a USED Car is DECEMBER, UK Analysis - Nadeem_Walayat
5.Labour Sheffield City Council Election Panic Could Prompt Suspension of Tree Felling's Private Security - N_Walayat
6.War on Gold Intensifies: It Betrays the Elitists’ Panic and Augurs Their Coming Defeat Part2 - Stewart_Dougherty
7.How High Will Gold Go? - Harry_Dent
8.Bitcoin Doesn’t Exist – Forks and Mad Max - Raul_I_Meijer
9.UK Stagflation Risk As Inflation Hits 3.1% and House Prices Fall - GoldCore
10.New EU Rules For Cross-Border Cash, Gold Bullion Movements - GoldCore
Last 7 days
Why Banks Will Be Slammed In The Next Crisis—And That May Be Good News - 23rd Jan 18
Medicare Premiums Are A Shared Pool - Coming Changes That Will Transform Retirement - 23rd Jan 18
Charged Atmosphere of Heavy Police and Security Presence at Sheffield Street Tree Felling Protests - 23rd Jan 18
Pension Crisis And Deficit of £2.6 Billion At Carillion To Impact UK - 22nd Jan 18
Two Factors for Gold That You Don’t Want to Miss - 22nd Jan 18
Why You Must Own Silver in 2018 - 22nd Jan 18
This Could Be The Hottest Mining Stock Of 2018 - 22nd Jan 18
Stock Index Trend Trade Setups for the SP500 & NASDAQ - 22nd Jan 18
Stock Market Deceleration / Distribution - 22nd Jan 18
US Markets vs Govt Shutdown: Stock Markets at all time highs - 22nd Jan 18
Land Rover Discovery Sport - 1 Month Driving Test Review - 22nd Jan 18
Why should you use high-quality YouTube to mp3 converter? - 22nd Jan 18
Silver As Strategic Metal: Why Its Price Will Soar - 21st Jan 18
Stocks, Gold and Interest Rates Three Amigos Ride On - 21st Jan 18
Why Sometimes, "Beating the S&P 500" Isn't Good Enough - 21st Jan 18
Bunnies and Geckos of Sheffield Street Tree Fellings Protests Explained - 21st Jan 18
Jim Rickards: Next Financial Panic Will Be the Biggest of All, with Only One Place to Turn… - 20th Jan 18
Macro Trend Changes for Gold in 2018 and Beyond - Empire Club of Canada - 20th Jan 18
Top 5 Trader Information Sources for Timely, Successful Investing - 20th Jan 18
Bond Market Bear Creating Gold Bull Market - 19th Jan 18
Gold Stocks GDX $25 Breakout on Earnings - 19th Jan 18
SPX is Higher But No Breakout - 19th Jan 18
Game Changer for Bitcoin - 19th Jan 18
Upside Risk for Gold in 2018 - 19th Jan 18
Money Minute - A 60-second snapshot of the UK Economy - 19th Jan 18
Discovery Sport Real MPG Fuel Economy Vs Land Rover 53.3 MPG Sales Pitch - 19th Jan 18
For Americans Buying Gold and Silver: Still a Big U.S. Pricing Advantage - 19th Jan 18
5 Maps And Charts That Predict Geopolitical Trends In 2018 - 19th Jan 18
North Korean Quagmire: Part 2. Bombing, Nuclear Threats, and Resolution - 19th Jan 18
Complete Guide On Forex Trading Market - 19th Jan 18
Bitcoin Crash Sees Flight To Physical Gold Coins and Bars - 18th Jan 18
The Interest Rates Are What Matter In This Market - 18th Jan 18
Crude Oil Sweat, Blood and Tears - 18th Jan 18
Land Rover Discovery Sport - Week 3 HSE Black Test Review - 18th Jan 18
The North Korea Quagmire: Part 1, A Contest of Colonialism and Communism - 18th Jan 18
Understand Currency Trade and Make Plenty of Money - 18th Jan 18
Bitcoin Price Crash Below $10,000. What's Next? We have answers… - 18th Jan 18
How to Trade Gold During Second Half of January, Daily Cycle Prediction - 18th Jan 18
More U.S. States Are Knocking Down Gold & Silver Barriers - 18th Jan 18
5 Economic Predictions for 2018 - 18th Jan 18
Land Rover Discovery Sport - What You Need to Know Before Buying - Owning Week 2 - 17th Jan 18
Bitcoin and Stock Prices, Both Symptoms of Speculative Extremes! - 17th Jan 18
So That’s What Stock Market Volatility Looks Like - 17th Jan 18
Tips On Choosing the Right Forex Dealer - 17th Jan 18
Crude Oil is Starting 2018 Strong but there's Undeniable Risk to the Downside - 16th Jan 18
SPX, NDX, INDU and RUT Stock Indices all at Resistance Levels - 16th Jan 18
Silver Prices To Surge – JP Morgan Has Acquired A “Massive Quantity of Physical Silver” - 16th Jan 18
Carillion Bankruptcy and the PFI Sector Spiraling Costs Crisis, Amey, G4S, Balfour Beatty, Serco.... - 16th Jan 18
Artificial Intelligence - Extermination of Humanity - 16th Jan 18
Carillion Goes Bust, as Government Refuses to Bailout PFI Contractors Debt and Pensions Liabilities - 15th Jan 18
What Really Happens in Iran?  - 15th Jan 18
Stock Market Near an Intermediate Top? - 15th Jan 18
The Key Economic Indicator You Should Watch in 2018 - 15th Jan 18
London Property Market Crash Looms As Prices Drop To 2 1/2 Year Low - 15th Jan 18
Some Fascinating Stock Market Fibonacci Relationships... - 15th Jan 18

Market Oracle FREE Newsletter

6 Critical Money Making Rules

The Recent Metals Action Is “Causing” Me To Change My Life

Commodities / Gold and Silver 2017 Sep 11, 2017 - 06:40 AM GMT

By: Avi_Gilburt

Commodities I have made a ground-breaking discovery this past week. It is so earth shattering, that it will literally change the course of my life, and may cause you to change yours as well. Let me explain.

Maybe you believe that the stock market volatility was the reason the metals rose? Well, the S&P500 is within 2% of its all-time highs, yet the metals have continued to rally alongside the market.


And, maybe you believe that North Korea is the reason that the metals have rallied? Well, I have dealt with that issue last week, so I do not have to re-address it here again. But, suffice it to say that anyone who has really followed geo-political events will know that gold has moved in completely opposite directions during such tensions through history, and they will never provide directional guidance for the metals.

And, maybe you believe that a rise in inflationary expectations is the reason that the metals have rallied? Well, the fact that interest rates have been dropping of late would clearly not support your thesis.

None of these are the reason the metals have rallied despite so many analysts claiming them as the cause for the metals rally.

But, I, Avi Gilburt, have finally figured out the REAL reason that has caused the metals rally. While you may not believe me, I am now absolutely convinced of the truth I have discovered in the metals complex. I will tell you that the metals break out correlates perfectly with this reason. In fact, I will go so far as to claim that I have finally found the Holy Grail for metals movement! Yes, this discovery will now change the course of my life, as well as thousands, if not millions, of other lives.

I hope you are all sitting down, as I prepare to explain to you my ground-breaking discovery regarding the true directional driver for the metals.

The REAL reason that the metals rally is due to the hurricane season heating up!! Yes, you heard me right, and this is THE reason the metals have rallied, and there is absolutely no question in my mind.

You see, the metals have been consolidating for most of 2017. But, on Monday morning, August 28th, GDX broke out of its consolidation. And, guess what happened over that prior weekend? If
you guessed that Hurricane Harvey made landfall, then you guessed correctly. This perfect timing correlation clearly suggests that Hurricane Harvey “caused” the metals break out, and the fears about Hurricane Irma continued to push the metals higher this past week.

It is as “clear as day” that the metals broke out when Hurricane Harvey hit Texas. You simply cannot argue that correlation, so, it MUST be that Hurricane Harvey caused the metals break out.

So, please put down your books on economics. Put down your studies and reports regarding inflation. And, stop reading the news, because financial and geo-political events are clearly not the reason the metals have rallied. If you want to know how the metals are going to move, all you have to do from now on is to tune into The Weather Channel.

And, now that I have finally figured out the secret to what moves the metals, I will be taking off the next several years in order to obtain a degree as a meteorologist. So, my next article will not likely be coming out for another two years. I have truly enjoyed writing my articles for you over these last 6 years, but I will have to take my leave, and will hopefully see you in two years when I have successfully obtained my meteorological degree.

If you are reading this article, and are looking for pearls of wisdom from me, then I am going to disappoint you. You see, I cannot offer you anything better than what has already been said by Jesse Livermore, which so appropriately applies to where we now reside in the metals market:

“And right here let me say one thing: After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I’ve known many men who were right at exactly the right time, and began buying and selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine – that is, they made no real money out of it. Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance.”

So, now it is time to simply “sit tight.” All you need to recognize at this time is where the market cannot break below in order to keep the pressure to the upside. And, that is where you set your stops. So, again, right now it is simply time to “sit tight,” and enjoy the ride for which you have been so eagerly waiting all year.

This now brings me to the support levels to watch in the coming week. As long as the GDX holds the 24 region, silver holds the 17.40 region, and GLD holds the 126 region, we will continue to maintain a strong expectation that we still have higher to go over the coming weeks. So, I would not worry so much about the micro count. Rather, I would simply give the market room to run.

See charts illustrating the wave counts on the GDX, GLD, and Silver Futures (YI).

Avi Gilburt is a widely followed Elliott Wave technical analyst and author of ElliottWaveTrader.net (www.elliottwavetrader.net), a live Trading Room featuring his intraday market analysis (including emini S&P 500, metals, oil, USD & VXX), interactive member-analyst forum, and detailed library of Elliott Wave education.

© 2017 Copyright Avi Gilburt - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules