13 thoughts on “12:45 A.M. Gold Update

  1. One headline I noticed today on INO.com:

    Market Commentary and Intraday News
    Treasury Auctions $32 Billion In Three-Year Notes

    (RTTNews) - "Kicking off this week's series of long-term securities auctions, the Treasury Department sold $32 billion worth of three-year notes on Tuesday, attracting above average demand."

    It is my understanding that virtually all of the securities being sold by the Treasury Dept are now being purchased by the Fed, as part of the "Qualitative Easing 2" now underway (stay tuned for QE 3).

    So I find a lot of dark humor in "news" clips that talk about "above average demand" at these hyperinflationary events. In other words, the Fed has "above average demand" to buy this debt because no one else in the world (in their right mind)is now interested in doing so; quite the opposite, US notes and bonds are being exchanged as fast as they can be in order get hard assets. Thus we continue to use the printing press to fund the astronomical US deficits (and avoid having to raise interest rates) and thus accelerate the destruction of our currency, capital, savings and middle class, by creating ever more debt at an exponential rate.

    It is hard not to wonder if the deliberate destruction of the dollar is tied to larger plans for general confiscation of wealth. We have only to wait and see. One upcoming financial tsunami will hit US shores when OPEC starts taking baskets of non-dollar currencies in exchange for oil. Then it will not longer be necessary for nations to maintain large dollar reserves . . .

  2. I'd have to assume by your answer and your video that you are a "longer term trader" still expecting gold to go to 150. Would that be correct? If, so, what would be your next exit if gold continues to go south? Thanks so much. I just want to say the only reason I'm asking is because I think it would be better (at least for me) to know how a seasoned trader like yourself is handling gold in particular (since I hold a position myself). Not holding you to anything. Just want to know how you're handling your position (and I'm assuming you had a position in gold. That's the feeling I got listening to your video).

    1. Mike,

      The trends would change for Intermediate traders and at $1,409 and for long term traders at $1,300.


  3. Adam, it is now 10:33am Eastern. The daily signal on MC for Spot Gold has gone red. If I remember, this is supposed to be an exit for gold. What is your position now? Out of gold? Or is the oversold Willams %R leading you to stay in gold and holding out for your 150 target? If the latter, where would you exit gold if it went lower? Thanks.

    1. Mike,

      Short term traders should be out of gold based on our daily trade triangle.

      Longer-term traders are still long.


  4. Adam,

    Thanks for the update...VERY helpful for those of us who maintain a core position as well as a trading position.


  5. Thanks Adam,

    In the interest of sharing ideas, i am seeing a potential head and shoulders pattern(double head) in apple on the daily chart IF we break the neckline at $326.00. With the nasdaq showing signs of weakness and rolling over, weekly trend is down and hence i am short apple. Lets see what happens.


  6. Hi Adam,

    This new daily market update is very useful so thanks. I would like to ask on your opinion on crude oil. We had a large sell off yesterday and then a strong bounce from the $108.00 resistance and an oversold area as observed through the william%R on an hourly chart. Daily triangles indicate exiting the market for a small profit. your thoughts and opinion would be much appreciated.


    1. Sarkar,

      Our upside target is 120 for crude.

      I would pay close attention to our Trade Triangles.

      All the best,

  7. Thanks for the update...Do you see spot gold testing the 1438 (or lower) level in before it takes off to any New Record Highs?

  8. Thanks for the late night/early morning update. I really appreciate the videos so that I am not just thinking alone! Adam, get some sleep!! We need your well rested brain for future guidance.

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