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Graceland Updates 4am-7am Email: |
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Oct 20, 2010
1. The Few. The Proud. The Graceland Marines. 2. I'm not sure how proud we are, but the Rain of Pain was more like Fred Astaire's "Dancin' In The Rain" for you yesterday. The price chasers are now on fire, with their ten billionth "Me Pofessional Mawket Twadah, Me Chase Pwice, Dis Time Diffwent" clown show gone ALL WRONG. When a person operates like a 2 year old in the market, that's how I quote your words. It's not an insult. It's a fact and a 100% correct analogy. 3. I suggest you stand back, because a herd of technical analysis elephants is about storm past you singing loudly as a choir, "we're ok, as long as price level X holds!". My suggestion: Throw in Moving Average Y and TrendLine Z to go with Price X. Their "analysis" of the gold market won't make you any money. Sorry. 4. I told you that Team "I Have No Gold, But I'm Strategically Waiting For A Correction To Buy" wouldn't buy any gold when it really turned down.TC, Team Correction, forgot the minor detail that when price heads down, the chart looks bearish and feels bearish, so they feel bearish, feel price is going ever-lower. Their "I'm going to buy the correction" promises are replaced with emotional TERROR. Buying is the last thing on their mini minds already, and we've only had a blip of price weakness. 5. As price falls, the banksters pump these morons with gold-bearish news. So nothing is bought on weakness, but is in fact sold. Team Correction is more aptly named Team Yellow Bellie. Grown men reduced to babbling cry babies. 6. YOU should be working, NOW, on the BUY, catching all the Golden Raindrops with your Pgens. I am. 7. Click here now to view you in action in the Gold Market yesterday: Graceland Subs In The Gold Market Oct 19 8. Yesterday's action is a small taste of the Theme of the Gold Market that will soon dominate even gold's price RISE as the major theme of the bull market. That theme is: 9. His Highness, King Volatility. Only the Pgen will allow traders to survive. Many long term investorswill also soon bite the dust at the hands of... The King. 10. The simplest explanation of the difference between the trader and the investor is the amount of profit they seek on each item they buy. Just as a war has both long range weapons and short range weapons, you must approach the market the same way. There are short term market "weapons". These are your trading buys and profit-bookings. Typically you are looking for a 3 to 1 reward to risk ratio, your profit-booking increment to buy increment ratio. 11. For trading positions, if a stock is ten dollars, and you decide to buy it every dollar down, preferably in a pyramid formation, then each buy is sold $3 above the point where you bought it. There are variations on that theme and one of them is the "inverted buys" option I have in the pyramid generator, which is a reward-leaning option that can be tweaked so that even futures and options traderscan use it for very tight price ranges. 12. If you look at the picture of the buys and sells with an inverted trading range pyramid, basically you are selling what you bought at the very lowest fill, at the very highest price, so it looks like an hourglass formation, with the profit-booking sells on top, and the buys on the bottom. 13. I have an exponential inverted pgen function for sells in the Pgen, that gives even a bit more reward on each "kachingo". 14. Right now, the price chasers don't want to hear about any hour glass or pyramid; they are now staring into the charts, having bought absolutely zero gold yesterday, while calling their golf ball advisors, and consulting with their market loser pals to "analyse" the gold market. "Should we buy now? " -Market Wiener Number 1. "We need to let this smoke clear, there's a lot of volatility, but this market bears watching closely." - Market Wiener Number 2. What a bunch of NONSENSE. Can the yellow bellies buy ONE DOLLAR of gold on weakness? Answer: NO. 15. By the time gold goes down to the areas they pre-set as a buy zone targets when gold was rising, the banksters will have pumped them with so much fear that they are more likely to try to SHORT gold at the exact point where they promised themselves they would BUY it! 16. Gold tagged $1387 on the price-chase to $1400, and yesterday tagged $1329. 17. Read this carefully: A $58 dollar sale on gold is a 4% sale. 25 more of those, and gold trades at zero. In 1999, at $250 an ounce, Elmer Fudd Public Investor knew it would happen, so he bought his Granny Nortel, Fanny, and Enron, as a long term (bag)hold. Now, he knows how smart the Chinese central bank is to buy gold at $1300 and much higher, from the banksters who bought it at $250. Fudd is on a roll. Soon he'll be in a LINE. A Bread Line. 18. What matters is you. Yesterday I mentioned the importance of not depending on what Golden Surveyor Mike terms "The Greater Fool Tactics", to carry your holdings higher. Depend on you to buy your holdings low, and the lower the better, so you don't need a Gold Ship of Fools (one that is NOT coming) to buy at ridiculous prices so you make money. 19. WHO would you rather have carrying YOUR gold price higher, Elmer Fudd Master Price Chasing Wiener, or.... 20. The Unlimited Money Hardcore Banksters. 21. You are correct; when you buy severe weakness and fear, you are buying in the company of the strongest investors, the banksters. When you chase price, your fellow market soldiers are almost all lifetime losers in the market. Good luck winning any market wars with that team of yellow-bellied wieners fighting for you. 22. Chart Gaps. While most of you don't have the tens of millions (although a battalion of you do) in risk capital required to buy gold futures, with no margin, in a huge pyramid formation, there is one advantage to having NO ACCESS to markets at night, and yesterday was one such example. 23. When the funds are bailing on gold futures, handing their gold to the banksters before the 930am New York time open for the market, you can't know where the bottom is, so odds are high your buys get triggered one after another as price falls, which is good. 24. But when the stock markets open up at 930am, your gold stock items can gap down, and so can gold item ETFs. So maybe you have five orders to buy item X between $20 and $18, and suddenly you get all five fills at $18. I personally enter the sell orders for a group of such fills as IF I bought each item at the higher pre-set price. 25. For those of you who wanted some real weakness to buy in the Gold Market, your dream at least APPEARS to be set to come true. The gap down on the Senior Gold Stock charts is something that cannot be ignored by technicians. As somebody who buys technical analysis sell signals, I have to say I'm enjoying watching the "concerns" of technicians regarding the current technical situation on the gold charts. Laughing my head off is probably a better term for what I'm doing, but let's not split hairs, we're all too busy. 26. You ASKED for the OPPORTUNITY to BUY what was GETTING AWAY from you, and that opporunity is HERE and here NOW. 27. Some of you not only FAILED to BOOK PROFIT into the strength, but then you began CHASING it with BUYS. It doesn't matter how you handled or mishandled the situation that was the move from 1156 to 1387. 28. All that matters is TODAY. If you are a new sub, and a lifetime loser in the market, don't take that as an insult because I get regular letters from those slowly turning around 3 and even 4 decades of continuous market failure. 29. It's a process, not an event, and ALL that matters for all of us, is doing a better job today in the market, than we did yesterday. 30. The price chasers are now ALL underwater with NO CASH in their gold item accounts. What a horrific situation for them, as the bankster sharks now take their time chewing off their tiny financial legs and arms. We can't know if this turns into the ROUT that I FELT coming the past few days or if we reverse back up and gap to new highs. Some who were soaked in leverage probably feel it already is a rout. All is possible. In the market. 31. Remember that the market professional does not want to call any top or bottom. They don't even care where price is going and nor should you. They want to make money consistently, then leverage that consistency with larger "lines of production". 32. As a group, Graceland subs are worth many many billions of dollars, and that didn't come from reading the business owner's manual that came in the cracker jack box. Many of you have built monster lines of production and run them successfully as a family business, for more than a century in some cases. Bring THAT level of professionalism to the market, building your lines of production the same way, plodding, one day at a time. Think like a builder of Rome, not a "gimme every dollar of 1156 to 1387 before it goes to 1700 and I get none" hamburger flipper. Get into the MINDS of the banksters. Sit back, watch the price chasers while you smoke a cigar. Then when they burn, move in and grab a few arms and legs for yourself. The banksters aren't interested in targeting those who buy as they buy unless you are of a size that you are actually competing against them, which is a "problem" NONE of you need to worry about. 33. I talked about how gold is seasonally weak, and silver more so, in the oct/nov period. If the lows of yesterday are all we see in terms of this seasonal weakness, well, I guess all we get is a limited amount of gold and gold stock buys. We can't know, but we can, and WILL.... 34. RESPOND. 35. Lastly, please note the statements of Tim Geithner, head of the US Treasury, yesterday. Tim managed the New York Fed for the banksters before assuming his current role as manager of the Treasury. I have nicknamed him, as some of you know, Tim "The Terminator" Geithner, and have warned you that he IS a terminator, who pretends to be Mr. Softie. His mask will come off fairly soon. We are in the stage of gold revaluation and Tim, not Ben "Dr Pinocchio" Bernanke, has the power to devalue US currency. Ben could in theory be arrested for devaluing the currency, whereas Timmy has legal power to do it. 36. I have talked about the movement from QE to gold revaluation as policy, and have talked about the coming increased appearance of "The Terminator" as QE is put on the backburner and revaluation of gold on the front burner, albeit in couched terms. Note that one of the Fed governors yesterday was quoted as he spoke about the need to target higher PRICES as a POLICY, not INFLATION numbers. Translation? He's talking about GOLD. 37. I'll post the "Senior Gold Citizens Five" update on the site, covering the five major seniors gold stocks. Two very interesting questions come to mind, and I'll cover both of those in the report.
Thanks! S "Golden Raindrops" t Thank-you |