Graceland Daily Update 2013
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Graceland Updates written 4am-7am

Weds, Apr 17, 2013

1. When I was high school, in North Vancouver, it rained so much one summer....
day after day, without a break. Finally, some of us decided to stay up all night outside. We held a "sun vigil", to protect the day from rain.
2. Incredibly, the sun then stayed out all day, without a cloud in the sky! We were
physical wrecks by the end of that day, but that's a minor detail.
3. Is a similar vigil needed, today, in the gold market? That's a tough call. There are similarities to 2008 now.
4. There are bigger similarities, now, to the pre-launch period in 1979. That's when the banks made very similar statements to what they are making now, and they took gold down even harder than they have here, while buying all that was sold, for themselves, as they are now, and, like now, they dragged drug addicted idiots on gold analysis camera, to tell you gold was dead, like they dangle supreme imbecile Larry Kudlow now, to promise you... gold is dead.
5. Then, the banks took gold vertical. With most of the world's speculators short, and sounding exactly like bears and Kudlow sound now. So, what happens.....now?
6. Kudlow, a former coke addict, a real one, not a market one, is a closet socialist who grew up with a silver spoon in his mouth. He was an open market operations (market manipulation) errand boy for the Fed for years. He was fired from his brokerage analyst job, for failing to show up to work, because he was so strung out on real cocaine. That's who the bears' hero is. Look, it's a bird! No, it's a plane! No, it's a bag of cocaine named Larry Kudlow, who thinks he can fly!
7. Kudlow the imbecile stood on a podium right at the 2007 economy top, and literally screamed, "no recession, everything is fine!". That, while hardcore guys like Martin Armstrong and Mr. Macro gave the mkt a major thumbs down.
8. The market then began the biggest crash since 1929, while Kudlow snorted bags of cocaine and screamed that everything was wonderful, while Mr. Macro and Martin Armstrong screamed "sell everything now". Kudlow the drug addict is a complete scumbag. Worse, he's a certified market moron. What he knows about gold, is: zero.
9. The difference between 2008 and now, in the gold market, is that there's no fundamental reason for gold to be sold now, but it's being sold hard anyways, which is a situation much more like the late 1970s, when the chimps bought it all, while crashing it and telling everyone that gold is dead, while "accidentally" forgetting to say why.
10. The chimps can always dangle a fresh drug addict on TV, who will say anything, to get his drugs, to smash gold, so the chimps, and you, can take it, and get richer.
Nothing was different 5000 yrs ago, nothing is different now, and nothing will be
different 5000 yrs from now, except the name of the drug addict they dangle to entertain the coming generations of YOU. The only question is, have you prepared YOUR coming generations, to be entertained, and enriched?
11. Having said that, most bulls don't have a printing press, like the chimps do. If YOU were afraid of lower prices, at $1577, but bought the 4th touching hard anyways, while I told you not to, because you stupidly believed it was impossible for gold to break $1500, and for the chimps to take what you have, and now you believe the situation has changed, because you failed to buy any put options, I can't do much, except tell you that more pain could happen, before the sun shines. It's never too late to buy put options, for those who are emotionally broken.
12. One of you believes gold is possibly carving out an enormous drifting h&s bull
continuation pattern, like it did in 2008, only much bigger. The head is currently
being formed. While Kudlow will tell you gold is going to any price you name, if
you give him a $30 rock of crack to smoke....Mr Macro sees support at $1250.
13. You decide; do you want a crack-head in your gold corner, or the guy who sold
the 2008 top and bought the bottom? Hint: I've already made my decision.
14. I see HSR at $1225-$1266, with the lows of that HSR box at $1109, which jives
with my descending triangle target of $1123.
15. In the gold big picture video I did yesterday, I outlined a drifting rectangle,
which superbear teckie Rambo calls a bull flag, on the gold weekly/monthly chart.
16. Using futures charts, rather than ETF charts, it can be argued that the drifting rectangle is still intact, almost perfectly intact, and could become that huge h&s bull continuation pattern, featuring the most shocking price action seen yet.
17. In that scenario, gold could rally to $1650, from either here or from about
$1250, and then decline to $1123, and then shoot to $2100. That action would fully
cook every bear, every bull, except you and the chimps.
18. In the scenario of the h&s super-bull continuation pattern, gold would stage
even more violent action, in terms of destroying both bears and bulls.
19. That would entail a rally from the $1200-$1300 area, to somewhere between $1800-$2100.
>From there, it would crash to about $1500, and then stage an "ultimate" rally, to
$2800-$3500.
20. If it happens, the question is... where will YOU be? Destroyed, or blaring music from inside the golden chimpmobile?
21. In gold, there are fans, analysts, and warriors. I'm from the warrior group,
so there is no gold price on the grid that I really fantasize about, or am afraid
of, on a macro level. The weaker my opponent is, on the grid, the better. Lower
price makes them weaker, and question is, do YOU want to fight a strong opponent,
or a weak one?
22. The bankster-chimps are your competitors, not your opponent.
23. Don't be stupid enough to believe you can beat the chimps in a market street fight, but compete with them for the food on the ground. You can't hesitate if price touches major HSR food, on a first touching, or the chimps will take it all.
24. Use of analysis on a first touching of HSR, rather than pgen gunfire, is a sign
of massive emotional weakness. As I write this sentence, gold just touched $1266...boom!
Bought it! OK, it didn't touch, but you better have your finger on the $1266 buy trigger of your PGEN machine gun, not your head in the $1266 analysis toilet, wearing diapers, if it happens.

Gridtime! Do not hesitate in a gunfight. Shoot. "Me finally shoot at $1577 two years after 1st touching, then me wonder why me dead now, while chimps buy $1432-$1309 with world's biggest golden PGEN!" -Not you, April 17, 2013.

Thanks!

Cheers