Monday, February 24, 2014

Gregory Mannarino: Pump and Dump Wealth Transfer Coming Soon DIA SPY QQQ

  George Soros holds now 1.3 billion rolling Put on the market to protect his long positions. How long this levitation in the markets can continue? Nobody knows for sure, but this interview gives us a very good food for thought. Gregory expect the serious correction starting within next few weeks, when money after initial drop will be reallocated into Commodities, Gold and Silver. Big banks are already shorting the market and it will create the Pump and Dump Wealth Transfer again.
  So far market was playing along the Toby Connor's scenario: with general equities topping in the last move up into the late spring of this year, Commodities are breaking Up and Gold and Silver are going much higher. Silver is topping $22.00 level today and Gold is at $1,340. Interestingly enough ZeroHedge reports that:

Hedge Funds Most Short Into Latest All Time High Ramp Since September 2012

Ukraine, Syria And Global De-Dollarization: USD To Go Down And Gold Up TNR.v MUX RGLD GDX GLD ABX

"Ukraine will be the very bad example for these leaders: that you can come, make a few phone calls and even f**k the EU deciding who will lead the sovereign country next. The least they can do is to accelerate the De-Dollarization and call the bluff called the "food stamp recovery and Taper". US Dollar is levitating just above crucial 80.00 level, with all Taper hype and currency distractions in the emerging markets. Gold is breaking to the upside and any additional strain on the U.S. "recovery" can ignite the next leg down in US Dollar. China will be playing its own game getting ready to the global reset: accumulating record amount of Gold and encouraging its citizens to do the same."

Toby Connor: Dollar Breaks Down, Great Inflation to Push Gold And Silver Much Higher TNR.v MUX GDX GLD SLV

 "We are  following Toby Connor with his very interesting concept of The Great Inflation in 2014. Gold was in a breakout mood this week and finally has broken to the upside from $1270 level with intraday high on Friday at $1,322 and close at $1,319. We have now the massive short squeeze in action in Gold and Silver. Silver has broken to the upside as well on Friday closing at $21.51. Gold mining shares are making the very good progress as well.
  On the chart above you can see that Gold has crossed the very important level on daily chart and moved above its 200MA at $1,309. It will bring a lot of attention of traders and shorts will be running to the exit now. Mass media will be picking up the Gold story as well now. CNBC is talking about Gold and Miners already and Jim Cramer advises to watch GDX - Gold miners ETF. Next levels in Gold to watch is $1,360 and $1,420 to complete Double Bottom Reversal pattern on weekly chart.
  Silver had its massive breakout as well following the Gold footsteps this week. Next levels to watch here are $22.75 and $25 to confirm its Double Bottom Reversal pattern on weekly chart. The most important here that Silver has broken to the upside above its 200MA at $21.13 and closed above it at $21.49."

Rick Rule On Gold And Silver Markets, Miners And Silver Short Positions MUX TNR.v GDX RGLD SLV

 "Rick Rule gave a very interesting interview on Gold and Silver markets and, particularly, on Gold and Silver mining stocks. Learn from the pro about the investment landscape unfolding this year. Rick Rule was right on the money with his call on the bottom in junior miners last summer. Now he is talking about the Silver short positions being literally uncoverable with the inflow of 2 billion dollars. "The bear markets are the very authors of the Bull market. Recovery in the best Gold and Silver mining stocks will match the magnitude of the previous bear market decline."
  Companies like McEwen Mining, Royal Gold and Silver Wheaton have already demonstrated the explosive leverage to the rising Gold and Silver prices."

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