David Brady
@GlobalProTrader
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Former FX Trader, Money Manager Author of https://t.co/8YFJiYl7Fg
Ontario, Canada
Joined July 2016
Trend Is Up, but Data Points Down #Gold #Silver "The MACD Line is far higher than it was in 1980 when Gold peaked at 800 and rose 24x in just 6 years. It is far higher than the peak at 1923 in 2011. It is way above the peak of 2089 in in 2020. When this falls, run for the hills."
#Gold has gained 80% since November 2022, reaching $2905. But 'nothing goes up in a straight line forever.' Extreme overbought conditions suggest caution. Read David Brady's full article here @GlobalProTrader
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Banks just raised their net short position by 61% in #Silver over the past 5 weeks. Funds have more than doubled (111%) their net long position.
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RT @SprottMoney: #Gold has gained 80% since November 2022, reaching $2905. But 'nothing goes up in a straight line forever.' Extreme overbo…
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RT @BGatesIsaPyscho: Man:- “Stratospheric aerosol injection - oh look at that - he just ran out” Now you know.
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@garysavage1 @ADrunkenmiller That said, anything is possible. Markets are based on probabilities not certainties.
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@garysavage1 @ADrunkenmiller I don't rely on just the COT data, I use 6 tools in concert with one another. The COT data does signal peaks and troughs, just as the did at 1045, 1377, 1124, 1369, and 1167... I could go on and on. But then sentiment and momentum indicators confirm also.
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@altobelli_mark I won't try to guess what happens ahead of a Fed meeting, but thinking like a criminal banker, lure all the lambs in, then slaughter them.
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@garysavage1 I beg to differ, especially going into an illiquid week with the Chinese absent. Note how the peaks in shorts match the peak in price and the lows in shorts coincide with bottoms in price, starting with 1045, their biggest net long position ever on Dec 15, 2015.
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This is where the positioning of the Banks is in #Gold
The Banks ramped up their net shorts again by 24% in 3 weeks to 246k (Highest since peak in Sep'24), as #Gold rose 4.5% during the same period. The Funds did the same on long side, increasing their net long position by 30% to 216k. This was their second biggest net long position since Feb 2020. Banks and Funds loading up short and long respectively near record highs in Gold does not bode well for the metal going forward imho. Chinese New Year holidays start Tuesday.
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@ThomasFontaine1 Gold and Silver went DOWN when Trump introduced tariffs on Chinese exports in 2018.
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@quantum_investo They are called the smart money because they are almost always right at peaks and troughs. Last time they got crushed: 1999.
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