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Published On: Mon, Feb 8th, 2016

Stealth Gold Bull Market Continues; Real-Time Analysis – Eric Dubin

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TND Exclusive:  Eric Dubin

This is fun to watch develop.  After 4+ years of never ending “extend and pretend” acts of illusion conducted in service of Management of Perspectives Economics (“MOPE”), all with the hopes of reflating a broken financial system, and with the necessary and therefore directly associated attacks on precious metals, we’re finally seeing the paper trading conventional finance world of Wall Street and London begin to get a bit edgy.  They’re starting to move into buying paper gold, and that could very soon prove to be an absolute nightmare for the cartel.

We’ve been here before, at a juncture where the paper buyers in the West start moving more aggressively into paper gold.  Remember the Dec., 2014-Jan., 2015 example I’ve spoken about time and again, and how that ramp-up led to higher prices and a false break-out? (False, only in the sense that the cartel came in after late Jan., 2015 and beat the sector down; the precious metals secular bull never died.)

Well, this time is indeed very different.   This is not Jan., 2015.  The world is waking up to the fact that a brand new, multi-headed hydra solvency crisis is upon us.

Bill Murphy can toss tomatoes at me later if I end up drawing attention just like his “GATA Rockets” sometimes do.  (Sorry, Bill… couldn’t resist!)  It should also be noted that the current move in gold has now extended RSI to 76.99.  That’s very high.  But in the current set-up and context, I don’t think it’s “too high.”  But we will see the cartel try to come back and push prices down once buying transaction flow signals that momentum is slowing.  We’re already seeing an attack on silver that, as the trading day has progressed, has started to weigh on gold – yet again, another example of managing sentiment.

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That’s the funny thing about a solvency crisis and deflationary wave, and how it’s happening in the European banking system most starkly, as Jason Burack and I discussed on the latest Welcome To Dystopia podcast.   Heck, you can see that counter-trend dynamic push the dollar up right now, and within the last hour or so.  Tylers at ZeroHedge see it too…just posted, and here, with a screen shot before their post even caught a comment:

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But I still think we’ve got a set-up powerful enough to launch gold higher through the COMEX trading day today overall (even though we’re likely going to get whacked near the open), and silver will turn around after any further algo-trading mauling today, moving higher with a time delay, and literally pulled higher as the raid against silver fails and as gold sets the market tone.

This week will likely be more stair-step in nature than not, with an upward bias and an attempt to test $1,200 gold.  Were it not for the fact that silver is clearly – as we can see right now – currently under pressure, and were it not for the extended move we’ve already seen in gold (six straight trading days, 76.99 RSI, etc.), I’d say blasting through $1,200 this week would be a given.  But this week should still close higher, for the week, even though there may be one hell of a cartel speed bump hit during the week as well.  The set-up for both has the highest probability among scenarios.

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An epic phase of the ongoing precious metals bull market is awakening right before our eyes.  While the cartel can manage price appreciation from time to time, they can’t do much to kill this new bull phase.   It’s too late.  Too much has been screwed-up beyond repair (including the destruction of a large percentage of forward gold and silver mine supply).

The other day, Jason and I recorded one of our better podcast productions.  Click here to access it.  We talk about MANY subjects.

I’ve decided to publish Facebook messages that I sent to my colleague, Jason Burack – quite literally as the trading was developing this morning (and I’m publishing this hours before the New York open, so I’m letting it all hang out).  He hasn’t even read them yet.  The timestamps you see are my Facebook timestamps.  My account is set to Pacific Standard Time.

Note:  In messages below, please remember that I wasn’t sending them with the idea that I ‘d be publishing this realtime market commentary.  There is one typo-like error I should point out.  I meant to write, “…that we are seeing an acceleration to the upside AFTER the previous trading day’s…” in the 1:25am PST post.  It’s pretty clear that’s what I meant, as you will see.  But my typing fingers managed to not be connected to my brain.  Consider the “typos” just “color” for your amusement.  The overall points I’m making are clear, and making these points in realtime is more important that trying to clean-up a goofy typo…  Damn the torpedos.

Eric Dubin, Managing Editor, The News Doctors

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About the Author

- Mr. Dubin is the Managing Editor of TheNewsDoctors.com. He has 25 years of experience as an independent buyside securities and global macro analyst. He has well over a decade of experience as a financial journalist, editor and political analyst. He's primarily an autodidact, but his formal education includes degrees in economics, international relations and MBA. He welcomes feedback on his articles and will make an effort to respond to comments. Email Eric by sending to "Eric" and then @TheNewsDoctors.com. He can also be "followed" on Facebook: https://www.facebook.com/EricDubin