Wednesday, November 28, 2012

GLD – Gold ETF Technical Analysis Of 2 Rectangle Chart Pattern Scenarios

Courtesy of Mugabe via the Tischendorf Letter

by OLIVIER on NOVEMBER 21, 2012
Technical chart of the GLD – Gold ETF with the alternative rectangle pattern I mentioned in yesterday’s analysis. You can see the two scenarios I deem to be the most likely ones. I explain my reasoning why both are bullish set-ups in the short 2 min audio. Hope you enjoy the audio analysis!

GLD - Rectangle Chart Pattern Scenarios
Think fundamentally trade technically.
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Found on Jesse's Cafe. It is only 3 minutes

Inside The SPDR Gold Trust: Q&A With Tim Coyne of State Street (GLD, IAU)

Jared Cummans: We recently had the opportunity to talk to Tim Coyne, Global Head of SPDR ETF Capital Markets Group, about the famed SPDR Gold Trust (NYSEARCA:GLD). Tim is responsible for sales and client relationships with SPDR ETF primary and secondary market participants in the United States, Europe, Middle East and Africa (EMEA), and APAC. These include authorized participants, electronic market makers, broker dealer institutional ETF market making desks, proprietary trading desks, domestic and international program trading desks, equity finance desks, high frequency trading firms, and U.S. stock exchanges and alternative trading systems. Tim manages the SPDR ETF U.S. sales effort to hedge funds and asset managers. He also holds FINRA Series 7 and 63 licenses [for more GLD news and analysis subscribe to our free newsletter].
Commodity HQ (cHQ): How do you counter the expense ratio differences in SPDR GOld Trust (NYSEARCA:GLD) and iShares Gold Trust (NYSEARCA:IAU)?
Tim Coyne (TC): We talk to clients about this quite frequently. GLD’s expense ratio is 40 basis points while IAU lowered its charges to 25 basis points about a year ago. They also conducted a ten-to-one split at the same time, so now IAU represents 1/100th the price of gold, while GLD represents 1/10th.


  1. Tomorrow a thread from Shaza. Thank you Mugabe.

  2. I hear your penny and nickel are aout to be debased out of existence too...a very damning event, but one whose real significance has gone way over the heads of the silly public...

  3. Speaking of pennies and nickels...does anyone collect coins (other than gold or silver) any more? Do you remember collecting pennies in those little blue books, the idea being you'd get those from different mints?

    Has stamp collecting, coin collecting gone out of fashion? I still see a small group buying art work as investment. Or jewelry.

    Me, if I had money to spare, I'd consider buying Faberge eggs. There is a great collecting at the Art Museum in Richmond, VA. I tend to fall in love with 'intricate' artistic endeavors. I took hubby to Philly Art Museum a few times---had to quickly LEAVE from the Modern Art room as his comments were making the guards snicker. He is NOT a fan of the 'art' of stones representing a campfire...

  4. Apparently, the guards also not fans of idiocy which is presented as 'Art.'

  5. I have heard that precious gems are taking a hit. Maybe the recession is affecting the uber-rich and they are cutting back on everything except the fine wines.

  6. After the sell off I don't think we will be seeing Gold at 1800 by Christmas.

  7. We just had to put our cat Shadow down. He lived 21 years. That's a long, LONG time. He went downhill quickly in the last two days. When I got home from my lunch today, my husband said he wouldn't get out of the litter box. Just laying there. My daughter met us at the vet where she works. Vet said his heart was fading fast. While we 'could' have chanced waiting, if he threw a clot he would have been in major pain and trauma. I wouldn't want that. Still, it is hard letting go.

    He was quite a character and has been with us over half our married life.

    Quite a dramatic week here.

  8. Sweet-talk artist, malcontent
    Quiet little innocent
    Agile gymnast, silly clown
    With cheshire grin or solemn frown
    Busybody, stay-at-home
    Fearless hunter, free to roam
    Alley-fighter, diplomat
    So many faces has the cat!
    - - - - - - - - -
    CL, very sorry about your loss.

  9. Speaking of letting the fox rule the henhouse, look at whom the President has nominated to run the Securities and Exchange Commission - a former CFO for Citibank.

    After Sallie Krawcheck was asked to leave Citi, the firm was a hair’s breath away from collapse. The Federal Reserve had to guarantee over $300 billion of Citi’s assets (i.e. 'toxic garbage').


  10. Yes, very sorry to hear of your loss, cl

    A cat is a fine furry friend, and really they don't demand much, other than some food and occasional petting. It is heart breaking to lose one. They have a way of purring their way into your heart.

    Probably the best thing you could do in Shadow's honor would be to adopt a kitten into your loving home. Every kitty deserves a good home.


    "... Moody’s said the EU-IMF deal to unlock €44bn in bail-out payments to Athens merely papers over cracks and does little to alleviate Greece’s "extreme economic and social fragility".

    "We believe that the country’s debt burden remains unsustainable," it said. Moody’s warned that there can be so lasting solution until EU states and official creditors agree to write down their holdings, now the lion’s share."

    The price of delusion is apparently hundreds of Billions of EUros. There is a word for those who lent Greece vast sums fully expected them to be paid back. That word would be 'idiot'.

  12. GAW I couldn't have agreed with you more. Seems these days there is a line for idiots and it is always full. CL I send my private condolences as I am sure you know how I feel having lost two of the family this year.

    If I had one thing to say about my last 2 years is "if it doesn't kill you, it makes you stronger."


    Where the gold is. 2 words: North America.

    The USA edges Canada slightly, but if you look at production, I'd say Canada has more room to produce gold in the future, as present production vs reserves under ground is low.

    Canada & the USA are the world powerhouses in gold, way ahead of other nations. We are golden.

  14. Regardless of the fiscal cliff, or if it's a bungie jump, American readers would probably be wise to sell some profitable holdings before Dec 27, in order to avoid paying higher taxes on it in the future.

    As there seems little doubt taxes will be going up in the USA, one way or another. Obama seems determined, and Republicans are wavering. Grover Norquist's head is about to explode.

    And if they don't reach some sort of "compromise" (can-kick), the over the cliff tax hikes will kick in. Either way, taxes are heading up, I can pretty much guarantee, and you can take that one down to the IRS where they will be happy to cash it.

    But you should consult a good accountant first, they are not expensive, and well worth the fee.

  15. It appears the latest EUro Failout just announced (from "Europe is now Saved (Again)" Season 5, Episode 31, has a serious flaw.

    By forcing a Bond "buy back" at 30% or 40%, they are fixing what will be a recorded price transaction, which then sets the market price of those assets.

    Except that all the "Banks" in Greece and elsewhere are carrying these Bonds as collateral for loans from their national Banks and the ECB. At par value, many of them, apparently. Those "Banks" are now theoretically in deep trouble on a sudden drop in asset valuations, namely the Greek Sovereign Bonds they are holding.

    Because of previous Failout schemes where the local Greek or Spanish "Banks" pledged some, err, more dubious assets, and then received the Sovereign Bonds which they then re-pledge for fresh loans. This scam is still ongoing.

    Which is why today the local "Banks" in Greece said they would not join such a scheme. As they might be instantly vaporized from the sudden 60-70% haircut they will take on Billions of EUros of "assets".

    Stay tuned for Episode 32, where EUrope shoots itself in the other foot, again.


    "...On one hand the sole beneficiary of the transaction are those hedge funds who bought the GGB2 bonds when they tanked to lows just barely in the double digits as a % of par; on the other, there is absolutely no benefit to the Greek people as a result of this sub-par prepayment, as the only fund flow benefits hit the bondholders (and it is up to Greece to figure out how to grow its GDP by over 4% per year over the next 8 years). Then let's not forget that nobody has any clue yet where the funding for said buyback will come from. And finally, as Kathimerini just reported, we learn that one group that has just vocally declared against the buy back are the very people who are supposed to be benefiting from the Greek bailout: i.e., the country's bankers.

    From Kathimerini:

    Bank managers are planning to express their opposition to the credit sector’s likely participation in the bond buyback program at a meeting with Finance Minister Yannis Stournaras scheduled for Thursday.

    The administrations of all commercial banks are stressing that they cannot possibly participate voluntarily in a program that leads to the financial exhaustion of shareholders.

    Oops, looks like the local bankers are suddenly far less "voluntary" inclined, after realizing that their equity stakes will be largely impaired in the balance sheet waterfall, which sees bonds previously marked to myth at par, remarked to 35 cents, 20 cents, or whatever the final buyback price is agreed upon, largely a function of whatever cash the Greek government can find hidden underneath the rug."