RE:Trading the gold marketThanks MaterialsMan,
I watched the entire video.
I find it interesting that the real estate market may be looking like it is recovering in North America but listening to this video it is in a large decline. The real estate market may be having a little increase this summer, to get the house so that you can get the kids in school in September, but the real estate market will probably keep going down as the money supply tightens and as banks pull in their horns, lending less to the ordinary joe, or joan, wanting to buy a house.
I find it interesting that we are heading to a "terrible recession", probably starting Q1 2024, just in time for the US election year, and that Prof Hanke believes that gold always rises as we head into a recession.
What he described as his sentiment meter, which might go from hot to cold in 4 hours and the price of gold may go up and down at the same rate, is not shocking but it is disturbing, as you said. We are looking at a wave generator, providing predictable waves to the guys with money and random waves to the rest of us (unless we want to go to www.thegoldsentimentreport.com and waste all of our days looking at the sentiment, figuring out how to trade 24 hours a day, and losing the little bit of life that we have.)
For this reason, I believe that those on this board, who invest in krr.to because of their business and delivery of more gold at a reasonable price, are the smart ones. I try to keep my heart in check and my portfolio "ready-cash" high enough so that I can make it through the random waves. These 8 Fed meetings a year may provide fire-works for traders but I have found that I have to just ride them out, without expecting to make any gains since I can't predict the random spasms, caused by those with the AI based trading machines. ( I consider Prof Hanke's meter to be based on AI since the machines read the reports and produce the sentiment on a minute by minute basis.)
And, I am into gold because it appears to me that we are ready for the next move up, dare I say the wave five of an Elliot Wave pattern. Yes, laughter is always appreciated. This should take us over $2200 usd, with my simple chart. I am no expert but I have to base my buying and selling on something. I try not to trade every 4 hours, so every 4 weeks, or 52 weeks, will have to do.
Professor Hanke was very interesting. I think that the macro picture of money supply and impending recession is very important. Those renters who might wish to buy a house should wait at least another year. Car prices should drop as credit dries up in that market.
cleareye.