Friday , 1 November 2024

Lorimer Wilson

Noonan on Gold & Silver: Be Patient – Wait For the Market to Prove Itself

In spite of the positive change of behavior we have seen in gold and silver this past week with strong closes and increased volume - both attributes of buyers in more control than sellers - the weekly trend remains down. While we now see some steps in the right direction - a higher swing high - the market needs to prove itself and once that happens there will be ample opportunities to participate in the paper market.

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Financial Entertainment On the Breakdown of the USA: “The Mayans R Us”!

The Mayans R us. One year, they were cavorting bloodthirstily atop their garish painted pyramids and a generation later the jungle was stealing back over the temple steps and the population was a tenth of its former size. The same thing is going to happen to us, except there will be a hell of a lot more worthless, toxic debris left on the landscape. We enter 2015 with greater tensions than ever before and therefore the likelihood is that the inevitable breakdown will release more destructive energy and be that much harder to recover from.

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Noonan: “The Trend Remains DOWN In Gold As Well As Silver – Take A Look At the Charts!”

We do not engage in any “predictions” of what the market will do as it is an exercise in ego and folly, and a waste of time. One need only go back to those who are making predictions for 2015 and read what was predicted for 2014 for proof. All we can say is that little can be added to what has already been said and that is that the trend remains down in gold, and until there is evidence of a strong reversal, this market continues to move along the Right Hand Side of a weak Trading Range.

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Noonan on Gold & Silver: “Markets Don’t Lie & Opinions Don’t Matter.” These Charts Tell It Like It Is (+2K Views)

We choose to focus on the charts because a reflection of developing market activity tells the most accurate and current story. It is not a promising one heading into 2015, however, but it is reality, and to expect anything else will lead to the same disappointments of 2013 and 2014. Forget the ego-driven predictions that have all proven wrong again and again, and deal with what is - and this article deals with what is by looking at the charts.

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