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My observation of the trading after it peaked at .24 was slight exhaustion. Large asks were thrown up after buyers had enough but it was clear that there was no panic to sell.
There was clearly something trying to stop the momentum, push the price down, and shake some shares loose in an effort to load, IMO.
Price has to swing up and down a bit to get volume anyway so we finally got it into the close.
Wholesalers can see if/where there are stops so they may attempt to collect those shares at some point.
Nice week here, have a great weekend guys.
I'm looking forward to Monday already.
Indeed, I will be waiting for it as I expect to make money when deflationary reset finally comes. Let's see what new tricks they pull out of their hat to prevent it in the meantime.
http://www.zerohedge.com/news/2016-02-18/fed-financial-stress-index-points-significant-market-instability
BAA
If you ask me, gold will briefly hit 1210 early next week -- barring any significant geopolitical events -- before resuming the upward move. The dang resistance at 1233.1-1233.6 has proven to be one heck of a wall today.
This week's VWAP was 1215 and the mode (most contracts traded) contract price for the week was 1210.
Doesn't mean Banro will go down but it couldn't hurt to let the technicals cool off and the MAs and BBs to play catch-up before we fly.
BAA
Quite an ugly turn for gold there, I do not like that.
There was a pennant/wedge forming all day since like 7AM ... it was coming to an apex and about to break out above just now but broke down. Currently broke below the uptrending wedge.
Oh well, hopefully the big sellers on the ask swan-dive into the bid and we reset with a higher low for next week.
It hit the VWAP @ 1228.8
BAA
The usd-yen (USDJPY) carry trade has a direct correlation with the US markets.
When the Yen appreciates in value versus the dollar (USDJPY goes down since its a fraction USD divided by Yen), the US market drops and gold runs up as a hedge against it.
The NIRP insituted by the BOJ has unintentionally kicked us into high gear as the Nikkei sold off while the Yen got stronger... the complete opposite of their intentions.
Now, even if they correct course, the damage is done to central bank credibility worldwide. People are waking up to the fundamentals since they are unsure if the CBs possess the necessary knowledge and tools to continue the big party on Wall street.
Add threats of cash bans, NIRP, bad economic data, and "helicopter money" with increasing frequency and persistence and you have an excellent atmosphere for gold.
BAA
VWAP is currently 1228.4 but rising slowly.
Would make a great place to bounce.
BAA
(CHART) Gold trading very nicely today, again!
Love how gold tested 1220 overnight and broke out once it crossed above VWAP this morning. The economic data out at 8:30AM was an opportunity to sucker some sellers/shorts with a false breakdown and bounce the VWAP once again.
"good" inflation numbers this morning will throw a wet blanket on anyone hoping/praying for more QE from the Fed, including the Fed itself, lol
Looks like it's set to trade sideways or rise today. Crude oil tumbling back to Earth will bring the market down with it, which helps us. Could be a fun day ahead for Banro!
BAA
Bad day, bud?
Come on over to the gold miners <3
BAA
I would but there is little point in entertaining your baseless posts... I thought you wouldn't return either until 12 cents (your idea) or you had meaningful facts to share (my idea). Do you have a tendency to be premature?
However, you already lost the bet, I'm afraid. Failed at the friendly part.
I think $1500/ounce is conservative when you consider ridiculous explosion in base money supply over the past 8+ years, blowing financial asset prices into massive bubbles.
The liquidity will have to go somewhere when the debt-maelstrom is eating people's wealth and, in the end, gold will do an accounting of all the bogus central bank experimentation with people's livelihood.
It would be funny if they didn't possess the power to take us down with them.
Toss in NIRP, cash bans (via the very innocuous-seeming phase-out of high-denomination paper money), quantitative easing, "basic income", and horrible economic data... to get a complete loss of faith in paper currencies and severe deflation before intense hyperinflation in the end.
The game is nearly over cause the whole world can't be suspended in a stagflationary comatose economy, which Japan has clearly showed us is the end-game for these uber-Keynesians. It only worked for Japan for a time cause they were at it alone as the rest of the world grew, and bought up their exports.
Fun times ahead, every one thank the Fed.
BAA
Word, I am practically bored at this point cause I have no sensible trades to make.. in a good way, haha.
Let's take it niiiiiiiiice and slow so we can watch people like the lipsxpert bail while they wait for their 12-cent target.
Found this to help you stay calm. Repeat after me, Goosfraba:
Take an ice bath man. I understand where you are coming from but gold is just visiting these prices for now.. if it holds a few days it will adjust accordingly.
BAA
Agree, I tried a flip - based solely on the price of gold going into consolidation - the day it opened around .19 and then inexplicably jumped to .22
I got burned badly and did not want to admit it here. Glad to report I am mostly whole again and will make it up somewhere along the way.
BAA
Random: My skype alias is "AdamOMID" if anyone wants to discuss anything with me, I communicate via text on there virtually all day, every day.
BAA
UPDATE: Gold still above upper daily-VWAP line..
response:
Good luck. If you come to have any constructive ideas or factually supported information to share, please do. Even before the 12cents/share target, lol
BAA
Please, less personal conversation/attacks unrelated to Banro.
I understand the frustration and bewilderment of some ideas being passed as legitimate around here but don't add fuel to the fire.
I believe it has already been snuffed. Look no further than gold and BAA price.
BAA
If I were them, I would hold off until I completed my financing deal.
When a share distribution is done, the market tends to visit that price.
I am expecting that we can check that box despite the fact that the deal has not been closed yet... we did manage to complete the objective (a trip to 0.175) after the deal was announced.
Best to put it all behind us though before initiating any promotional campaign or releasing any juicy details/projections.
BAA
(CHART) Gold just spent 50 minutes trading above-the-upper-VWAP line, a standard deviation above the daily VWAP.
Trading above or below the deviation lines is rare because such price dislocations usually either find the volume they need to widen the bands (like the BBs) or to get the price back within them.
This action tells me there that are much fewer sellers than buyers, even at $1218.
As I have previously stated, spot gold held up exceptionally well recently (during a consolidation pull-back, nonetheless) as the Dow surged ~1000 points, USD recovered some losses, and crude oil jumped $4/bbl -- nearly 20%
Given that those recent moves were transient, I expect gold to really pop as they revert back toward Earth and fundamentals take hold once again.
BAA
I turned the TV off so I'm tuned out.
You really don't seem to know what you are talking about. The moment you referred to the financing as "toxic" I was done with your posts.
So we disagree on everything from short term price target, short term projections for spot gold, and terms of the financing.
Companies making significant profit do not just go bankrupt overnight, there is always some form of financing that will be available (including "toxic financing") and we are still receiving relatively good terms compared to lower-level, more speculative companies.
Cancel the show, no one is watching it.
BAA
Gold trades like such a boss lately.. love every minute of it
BAA
Love how gold has been trading lately. The pull back with consolidation was sort of like weathering the storm as oil, USD, and stocks exhibited strength.
When they inevitably sober up again - in the short term - and come back toward credit which wasn't "buying" it, gold will begin its next leg.
BAA
Bunch of old farts up in here :-p
Should've guessed. I'm unaware of a single person close to my age who knows a damn thing about finance/economics. Some with a degree in it but that doesn't mean squat these days.
BAA
Can you explain why you think these guys are relevant to Endexx?
EDXC
Excellent.. stickied.
BAA
That is some legit scooping right there.
Wonder if we get the financing deal today?
BAA
What an open.... Something huge scooping everything .21 and below.
Every time it dips below .21 -- on large whacks -- the bid returns immediately.
That's how to stop the flippers hah. Nearly 500k volume first 3 minutes.
BAA
It will promptly revert back to 52-week highs once people sober up.
Data out of Japan and China is terrible.
ECB just voted to ban EU500 notes, which account for 30% of paper euros in circulation -- effectively initiating the cash ban which was required to really commit to significantly negative interest rates.
Nothing looking better and all fundamental drivers for gold recent move still strong and getting stronger.
Keep your seat belts on boys; it's going to be a bumpy ride to riches here and we're only getting started.
BAA
We tolerate all types of discussions here but the discussion pushing political opinions is not contributing in the same way as other generally "Off-topic" stuff. If it were more than just claims one way or the other it would be different.
I was going to just let it slide like every thing else, as I appreciate the variety of well-rounded and informed ideas that are regularly shared here but once it devolved into people complaining about it, and more importantly, insulting each other I decided to end it.
Appreciate your posts and everyone else's. Hope you understand. Please continue to be your friendly self, off-topic as it may be.
BAA
Well let's hope for something from Todd soon.
Still here, Todd.
EDXC
The only limiting factor today is the VWAP of spot gold. Upper VWAP band at 1244 at the moment.
But Monday it should be good to roll out above 1250
BAA
Looks like our seller of size is done.
BAA
I like how gold used the pathetic Retail Sales data to drop and bounce support at 1233 once again, after bouncing it nicely overnight.
Gold looks very strong going forward and slightly USD-positive economic data will not bear any significant downward pressure on it.
Nice opportunity to sucker some cheap contracts and shares in all gold-related equities. It'll be back above 1240 later today and making new 52-week highs by Monday.
BAA
Higher daily volume is going to be a major positive as far as staying listed. The exchange well certainly be pleased with the trend.
Nice day here guys. Good churn for gold and Banro.
+3 cents to EPS - based on higher annualized gold sale price - from yesterday's close.
BAA
Handful of recent SUPERBULL-gold articles!
JPM: "Things Have Gotten Out Of Control: People Have More Confidence In Gold Than In Paper Money"
http://www.zerohedge.com/news/2016-02-11/jpm-ficc-head-people-have-more-confidence-gold-bank-deposits-or-paper-money
GOLDMAN SAYS GOLD TO FLY:
http://www.zerohedge.com/news/2016-02-10/scope-gold-extend-much-higher-1200-over-time-goldman-says
BofA SAYS GOLD TO FLY:
http://www.zerohedge.com/news/2016-02-11/everyone-jumping-bandwagon-bofa-says-stay-long-gold-until-1375-1550-possibility
OIL TO DIE:
http://www.zerohedge.com/news/2016-02-10/bloodbath-black-gold-buffetts-phillips-66-dumps-oil-cushing-crashes-crude-spreads-5-
BAA
Sell-side is weakening.. lots of damage to the short team today.
Think they're about to give in.. currently 0.191
BAA
Annualized EPS gain of 0.035/share overnight
Tiny P/E of 5 would translate to +~0.15/share -- lol
BAA
Seems like a large seller has been stepping out for a while.
Once this big sucker finishes deleveraging their BAA position - god knows what the reason is, as it could be completely unrelated -- then we will mean revert to a reasonable value.
At this point, the increase in spot gold has nearly added annualized EPS equal to the current PPS. This joke will have a killer punchline for those who see it through.
BAA
10-K reports always take 3months after period. 10-Q are 1.5months
BAA