Very VERY rare PMs' chart pattern, price reaction.

[beefsteak]

This is the kind of "price reaction" the disheartened with manipulation, fundamental analysis crowd always hopes for but rarely ever gets to see.

This is what is called the "V-bottom"......

Most (97-98%) bottoming price patterns consist of 3 other types:
*rounded action--think cup and handle image
**sideways /chopping action--think picket fence image
***W action--think famous turtle/Linda Bradford-Raschke pattern set up image

Rarer than hen's teeth is the one in the visual below.

This V was set off by Greek Parlimentarian action affirming CAC retro-clauses in the Headlock ECB has put onto the world, this time in the subordination of Greek Debt and trumpted by none other than Bill Gross 2+ weeks ago.

Alerted and expounded upon here on another GSuS thread--one entitled Mamboni--Superlatives Fail.....http://gold-silver.us/forum/showthread.php?59023-MAMBONI-Superlatives-Fail.-ECB-Checkmates-Bundesbank-amp-All-CBs-As-of-2.19.2012&highlight=superlatives
it is now illustrated below.

If you like "writing options" .... you now have a rock solid bottom against which to initiate your longer term, money maker strategy.

Here tis....2397 (click to enlarge)

Savor like a scrumptious, juicy bite of rare steak spritzing flavor against the roof of your mouth, gentlemen, and non-vegan ladies.

Not likely to be seen again anytime soon in this volatile gold market place, but extremely satisfying when it DOES show up. And it's worthy of taking note and annotating mentally if not in some bookmark function.

Kind of an AHA!!!!!!! SEE THERE!!!! TAKE THAT!!! moment for fundamental, and common sense, grounded in truth pragmatists.


beefsteak

[Neuro]

Dear Beefsteak! THAT ^^^ IS POETRY MY FRIEND!

Beautiful!

[beefsteak]

Beautiful indeed, Neuro, my friend!

These always require a quick scan for the "game changer" anomalous trumpted news event, in order to evaluate the duration of said trigger event.

This Retroactive CAC invocation cram down by ECB global Subordination making it through "legislative pomp and circumstance" and into the light of day, is truly a GAME CHANGER!

An "it IS different this time" complete with orchestral flourishes and glissandos....

Ahhhhhhhh....nice to breathe deeply again.

[Neuro]

What is the very reason for the V-pattern recovery? Could it be a misjudgment of the manipulators of the market, iow they feel confident they can make an event market negative by early manipulation, and then in 97-98% of cases it shows the slow recovery models (cup-handle, choppy or W), but due to misjudgment of the impact of the event, the manipulators get burnt immediatelly?

[beefsteak]

Neuro,

in this instance the trigger was the conclusion of the "sign on for the 75% haircut on your bonds" or forever hold your peace and lose all 100% of your bond investment "deadline" last night there in Greece.

Normally, only 69% of the PUBLIC holding these worthless pieces of bond script had to agree to such a collective rap, the likes of which this world hasn't seen since Brazil several decades ago, frankly, which I remember well.

Then Greece decided to make a show, and changed the law to require a more stringent "75% had to agree".

The finally tally came in in the mid to high 90's "agreement."

Such a charade, but it did the trick...made the bankers look like they had "public support" for their wealth confiscatory and usurous behaviors, of hypothecating original greek indebtedness of borrowing $1.5B in 2006 from Goldman-Sachs and ballooning it to over $325B in under 5 years.

A loan shark is a loan shark, regardless of 'native language' employed.

I never thought I'd live to see this day of strangulation and wealth transfer. But I've just observed it on the most blatant, crade of democracy clime, of diabolical construction.

WOW

As far as "get burnt immediately..." part of your reply, No, not in reality.

Remember the "system practice" signal to wit I drew attention?
Followed by the $100 take down for real sell-off chart pix within a week of the system practice signal?

That was the big money "hitchin' up their pants and grabbing the vaseline."

All of this was done behind closed executive washroom doors. The only "public scent" was in the pricing action as revealed by charts' squiggles.

Now, it's the "we've put it behind us" posturing...when in actuality what was going on in the "behind us bankers' posturing" is was "an inserted from the bent over/behind position" technique. And, NO amount of vaseline could lubricate the ECB whale stiffy in the Little voter's class "gnat's orifice."

We're not s'posta notice--because we the public -- now officially voting for financial reaming are too polite--nor do we dare point out the funny gait of those emerging from the global central bank washrooms, nor the pained expressions on theirs and our peers' contorted faces. We're s'posta "look away" and just carry on.

Carry on with exactly what?? That's what any one left holding toilet paper is asking...that's the real question!



http://www.jsmineset.com/wp-content/uploads/2012/03/clip_image002_thumb7.jpg

Each and everyone of us knows that now that CAC clauses have been retro-actively and UNI-laterally inserted into priorly sold Greek bond contractual languaging, it---the whale stiffy--will happen again. It's a matter of how soon will it happen again, [B]not if.

[SLV^GLD]

Haircuts, cups and handles, Vees, Double-You's, bending over and public scents.

What the Fuck.

Are you calling a bottom or what? I really don't know what the fuck you're trying to communicate just that you're excited about something and have lots of colorful but meaningless illustrations.

[beefsteak]

Sorry 'bout your indigestion from lunch, SLV! ;D

[beefsteak]

March 9, 2012, at 2:16 pm EST
by Jim Sinclair (http://www.jsmineset.com/author/jimsinclair/)

Dear CIGAs,
This is just over the wires. I do not see the word default herein.


ISDA EMEA Determinations Committee: Restructuring Credit Event Has Occurred with Respect to The Hellenic Republic
LONDON, March 9, 2012 – The International Swaps and Derivatives Association, Inc. (ISDA) today announced that its EMEA Credit Derivatives Determinations Committee resolved unanimously that a Restructuring Credit Event has occurred with respect to The Hellenic Republic (Greece).
The EMEA DC resolved that a Restructuring Credit Event has occurred under Section 4.7(a) of the ISDA 2003 Credit Derivatives Definitions (as amended by the July 2009 Supplement) following the exercise by The Hellenic Republic of collective action clauses to amend the terms of Greek law governed bonds issued by The Hellenic Republic such that the right of all holders of the Affected Bonds to receive payments has been reduced.

==========================

This GS-US thread aegis OP:



Today 12:49 PM EST
beefsteak (http://gold-silver.us/forum/member.php?3435-beefsteak)

Very VERY rare PMs' chart pattern, price reaction.
============================

LONG LIVE GS-US. Thanks, Mark/John Q. Public!!:cool:

[gunDriller]

http://gold-silver.us/forum/attachment.php?attachmentid=2397&d=1331311647

i've heard Harvey Organ use the term "Outside Day Reversal" for this price vs. time behavior.

[Sparky]

The thing is, ten days later we're off 50 bucks from that chart, so it wasn't a meaningful V-bottom.

[Neuro]

Well this V bottom 10 days ago wasn't really a bottom at all.... Once again the masters showed their ability to manipulate the market contrary to their books on technical analysis, afaik there were no news meanwhile that would fundamentally rock the market in this way. I am sure a few technical analyst players got screwed out of their life savings though...

[Sparky]

The good thing is that, inevitably there will be another launch off of a bottom, whether it be $1650 or $1450, or whether it be tomorrow or a year from tomorrow. The above chart shows a $30 boost; at these lofty prices, a boost of at least $50 would be more convincing.

The longest consolidation to date was from May 2006 to August 2007, which required a 15-month period of patience. We're still consolidating off the September 2011 peak. The gold price experienced such a massive launch in 2011 that I think we should mentally prepare for at least a year of patience this time around. It seems reasonable that we return to more normal seasonals this year, which means choppiness this spring, weakness during the summer, perhaps setting up the next beginning of the next launch in the September through November time frame.

I'm leaning toward a scenario of 2 more launches. The first in late 2012 to early 2013. Then I see a huge pullback occurring in 2013 tied to a large economic contraction associated with all the tax/debt problems that have been pushed until past the election. The response will be a granddaddy stimulus in 2014 that might launch gold into a bubble phase in late 2014 into 2015.

Of course, I always maintain the right to change my expectations if the current working scenario goes off track!

[beefsteak]

Rather than be considered too chicken to respond, I'm reserving the right to revisit this topic when the majority here state unequivocally that THEY believe a bottom is in.

Then I'll add more thoughts to this extremely rare chart pattern and what it signals...post Nuke Dollar Option trigger, and all that notwithstanding...

At that point, we'll calculate TOGETHER, the risk vs reward in actual dollars and cents since this extremely rare "bottom is in signal" was generated and brought to the fore by yours truly re: price of physical gold which is different than price of PAPER gold charting.

I'm looking forward to sorting out spin from actual hard numbers post bottom signal.

I'm NOT a short term trader, in fact, I'm not a trader at all. Gave up that foolish swappin' slobbers pursuit over a decade ago.

beefsteak

[gunDriller]

Rather than be considered too chicken to respond, I'm reserving the right to revisit this topic when the
majority here state unequivocally that THEY believe a bottom is in.

hard to call that.

2 forces - in addition to the manipulators - which can lead us to below $1620 for Gold -

* PM's are currently tracking with the Dow/ S&P. and the Dow/S&P are looking very bubbley - fundamentals weaker than a corroded rusty body panel on an old car.

* PIIGS & Belgium weakness. (PIIGS = Portugal, Italy, Ireland, Greece, Spain) - whose Central Banks have 300+, 2000+, 6, 100+, 200+ tons respectively. Belgium has 200+ tons of gold reserves. What happens when Italy needs to raise some cash ?


i think we will have some more buying opportunities this year, i.e. Silver below $32 & gold below $1600.


WILD CARD - Israel's threatened attack on Iran. Oil Prices going to old highs - or NEW highs. Gold & Silver often track with Oil - a force on the Upside ~ for PM's.

BUT - higher oil prices will WHACK the EU economy. Italy's most recent econ. stats are those of a country in Depression - a force on the Downside ~ for PM's. Same for Spain & Portugal & Greece.


Just plain looks like, "more volatility ahead".

PREDICTION - by the end of the year, the PIIGS countries will have less gold than they started the year with. maybe that was part of the plan, to get them deep in debt & to then raid their real assets ?


personally, i would like to see some more EU countries go the Iceland route, and to tell the bankers to STICK IT.

[beefsteak]

hard to call that.

personally, i would like to see some more EU countries go the Iceland route, and to tell the bankers to STICK IT.

Couldn't agree more, Gunny.

[Neuro]

Rather than be considered too chicken to respond, I'm reserving the right to revisit this topic when the majority here state unequivocally that THEY believe a bottom is in.

Then I'll add more thoughts to this extremely rare chart pattern and what it signals...post Nuke Dollar Option trigger, and all that notwithstanding...

At that point, we'll calculate TOGETHER, the risk vs reward in actual dollars and cents since this extremely rare "bottom is in signal" was generated and brought to the fore by yours truly re: price of physical gold which is different than price of PAPER gold charting.

I'm looking forward to sorting out spin from actual hard numbers post bottom signal.

I'm NOT a short term trader, in fact, I'm not a trader at all. Gave up that foolish swappin' slobbers pursuit over a decade ago.

beefsteak
Hey don't take it the wrong way, all I am saying is that technical chart pattern analysis is an unreliable method in a heavily manipulated market. Sure you could get it right 4 times of 5, it doesn't matter if you get it wrong in 1 out of 5, if you lose all your previous profit and investment in these instances you are worse off. Doesn't really matter how good your analysis is unless you have insight to the manipulators next move you will get screwed...