Here is a look at 15 years of monitoring bottoms in gold, used car prices crashing, plus big trouble for tech.
15 Years Of Monitoring Bottoms In Gold
November 8 (King World News) – Fred Hickey: Looked back over last 15 years of gold prices and observed EVERY major rally started with a big 1-5 day jump in gold prices off the bottoms. It always starts with short covering (that’s the spike/signal). Then, when it’s clear the rally won’t reverse (bull move is on), longs come in.
Sept ’08 bottom gold +$50 in 1 day (+6.2%)
Dec ’15 bottom +$30 over 2 days (+2.8%)
Oct ’18 bottom +$41 over 3 days (+3.5%)
May 19 bottom +$54 over 5 days (+4.3%)
Mar ’20 bottom +$111 over 2 days (+7.5%)
Mar ’21 bottom +60 over 4 days (+3.6%)
Nov ’22 bottom? +$51 over 1 day (+3.1%)
Big Trouble For Tech
The Kobeissi Letter: Tech companies this month:
1. Twitter – Laying off 75% of employees
2. Apple – Hiring freeze
3. Amazon: Hiring freeze
4. Snapchat: Laying off 20% of employees
5. Meta: Laying off “thousands” this week
6. Microsoft: Layoffs have begun
7. Intel: Laying off 20% of employees
Central Bank Insolvency
Alasdair Macleod: Seems the mainstream media catching on to the central bank’s insolvency problems. Now that it is becoming public that CBs are not in a position to simply rescue failing banks, public confidence in the financial system is likely to implode at a quickening pace…
Powerhouse merger caught Rio Tinto’s attention and created a huge opportunity in the junior gold & silver space CLICK HERE OR ON THE IMAGE BELOW TO LEARN MORE.
Used Car Prices Crashing
Charlie Bilello: Used car prices are now down 15% over the last 9 months, the largest 9-month decline on record with data going back to 2008. This was a leading indicator of higher inflation rates in 2020 and the recent downturn is likely a leading indicator of lower inflation rates to come.
Used Car Price Collapse Unprecedented
***To listen to Nomi Prins discuss what this means for the US dollar and the gold market going forward as well as what else investors should be aware of in global markets as we near the end of 2022 CLICK HERE OR ON THE IMAGE BELOW.
***To listen to Alasdair Macleod discuss the massive gold and silver deliveries from COMEX as well as the short squeeze in the metals markets CLICK HERE OR ON THE IMAGE BELOW.
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