$TNX:!PRII Daily

Waiting and watching for the turn is probably what the main activity in the markets consist of. I would doubt that anyone makes a thesis on what the Fed announces in December. More likely your position would be in readiness for the inevitable stock market rout, not that 'the Fed is doing something or other sooner or later'

Suppressing commodities has made only incremental gains that can be erased in one day. In an industrial society that relies on commodities to function, killing off commodities has to be like shooting yourself in the foot. The thesis that a commodities supercycle has gone bust, but I would say that the 'deflation in commodities for the exclusive purposes of investment' is probably also going bust.

You can see on this daily chart where fundamentals add or subtract to the gold price. Gold prices had advanced in all currencies before getting whacked. The line of scrimmage has been set back to where it had been previously.

http://schrts.co/Lw9M77

$Gold Monthly 21-Month Cycle

Overall the gold price is marking time in a steepening yield curve, where central banks should be focussing on buying bonds out of the market. Instead, central banks are tied into currency devaluation, and diversification out of treasuries, or buying ETF units. Central banks that can afford to devalue their currencies also have the lowest bond rates globally.

I don't believe in cycles, but since the demarcation of the last 21-month cycle, gold prices have seen 8 months of price retracements, while the 21-month cycle demarcation in 2008 fell exactly after the high in the new year, the low came 8 months after. This month would mark the eighth month, though it was not exactly concomitant with a price turn.

I am looking for the tail on the November candlestick to lengthen:

http://schrts.co/Be5DSh

$INDU Monthly

The Dow has reacted to the initial decline in August as if it were in a parabolic rise. The extent of the liquidity trap will become apparent should this index fall into a rout.

http://schrts.co/LIolln

via Safe Haven - Stewart Thompson

"Amateur investors focus on their drawdowns during the accumulation phase, and professionals focus on the task at hand. For amateur investors that want to take themselves to the professional level, they need to reach deep into themselves, and find a higher level.

I'll ask all investors in the Western gold stocks community to think hard about that, and to take another hard look at the 10,000 area on my Dow chart. Amateur attempts to avoid drawdowns and pick "final lows" isn't a proper way to build wealth. It's financial poppycock. Intestinal fortitude in 2008 at Dow 10,000, and in gold stocks now, is what builds wealth that is here to stay"

A great deal has been made of the commitment of traders report in gold futures recently, while ignoring the COT of US Dollar futures. I have to share this point of view, where the whole game of currency devaluation at the expense of the US will end.

http://www.safehaven.com/article/39582/gold-and-silver-cot-report-nirvana

What's Happening?

With the most recent news release after the October 'shareholders meeting', we find that a new appointment has been made, completely contrary to company by-laws that were enacted last year. But I did vote in favour and endorse anything the meeting was to accomplish, even though there was no mention of exactly what was to transpire.

The company has yet to lay their cards on the table, but every scorched earth strategy imaginable has been employed, ensuring that insiders shorting company shares they hold can close their income strategy, in a 'shorting the box' strategy.

Golden Band has worked diligently to keep secret what has been kept secret for decades, that the 'pay streak' of supergene enriched ore within the EP Mine was used to fill Sprott's Physical Gold ETF, and at the same time to fill the Royal Canadian Mint's ETR programme. As any arrangement involving the Mint is considered government debt, then no prospectus is required. In the meanwhile, they have FOUR operating mines and at least THREE operating concentrating mills. Lloyd, Jolu, Star Lake, EP.

And as the financial arrangement used was probably a swap, where the counterparties occupy each other's liabilities' column on the balance sheet, no financial reporting is required by GBN.V. But they would have raised substantial capital swapping cash raised by Sprott and the Mint for unrefined doré.

A photo of this highly enriched ore, prominently displayed, is available on the company website said to be from the Komis mine, which was never in operation, which is actually from the EP Mine, the source of most of the gold.

But once this pay streak ends, then the company has to get down to business, and work with the deposits on hand. They have no debt, and no capital requirement. But they are faced with being confined to a wheelchair as a quadrapelegic, and have to get up and win the marathon against the greatest athletes in the world.

-F6