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John Reade @JReade_WGC
, 6 tweets, 3 min read Read on Twitter
Gold: The COTR for #gold, released on Friday, for positions as of last Tuesday, show that the Net Managed Money position flipped back into positive territory for the first time since 10 July.

(short thread)
Gold: This was not due to new Managed Money longs coming into #gold, as this chart shows.

2/5
Gold: Rather this was due to further Managed Money short-covering in #gold.

3/5
Gold: The gold price increased by $5/oz in the reporting period (the week to 11 December) and is currentlyu around $1248.50, edging closer to the spot 200-day moving average ($1253.40/oz)

4/5
Gold: Although I suspect the more important level is the 200-day moving average on the active Comex Future (now Feb) which is about $20 above current levels.

5/5
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Gold: Considering that we had a very strong Employment Report out of the US on Friday, #gold performed pretty well over the past 18 trading hours. At $1291/oz at the time of writing it is some $15 above its post-NFP plunge and only about $7 below Friday morning's high.

1/6
Gold: This strength in #gold is not coming from US equity market fears, as US futures are roughly flat.

2/6
Gold: Rather it appears to be a combination of a modestly weaker US dollar, shown here as DXY over the past three days...

3/6
Read 8 tweets
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Gold: I find it ironic that that the government shutdown is making it 'harder' to trade #gold with confidence.

The CFTC's commitment of traders (COT) report is delayed indefinately while the US government is out of action.

1/3
Gold: Fortunately, Comex is not a government entity and continues to function. As you can see from here, open interest is reported daily and has increased quite a lot (4moz equiv) since 18 December.

2/3
Gold: Simplistically, with gold prices going up and OI up, speculators are likely adding to longs, driving the OI change and helping the price move higher.

I estimate the net managed money long is now at least 6.5 moz but could be more if short covering has happened too.

Ends
Read 4 tweets
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Gold: Quite a volatile session overnight in #gold following some wild moves in JPY. Commentators are struggling to explain the FX moves but concerns about global growth on Apple's cut in sales outlook and illiquidity due to a Japanese holiday seem plausible resaons.

1/4
Gold: The daily picture is less noisy and #gold continues to move higher. The 14-day Relative Strength Indicator (RSI) in XAUUSD is beginning to look a little high, but not worryingly so.

2/4
Gold: Looking at #gold in euro terms, however, and it looks more extended with the 14-day RSI above 80.

3/4
Read 5 tweets

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Alrighty - time to talk about mental toughness and emotional intelligence. I'll also talk about how to be a good teammate. All three of these were lessons that I've learned over the past three years, starting with my time playing for @SeattleSockeye .
This is a hard one for me and I've been pushing it off, at least sub-consciously, until now. I'll do my best to be honest and sincere. I'll also try to keep the typos to a minimum and keep things in chronological order. This'll probably be a long one. Good thing most are asleep!
On Monday I told my story up through the end of playing for @PrideofNY . In that thread I mentioned that I tore my [right] ACL. It was a complete tear (you can partially tear it) without any meniscus damage.
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1/ Below is a Q3 2018 update on the global monetary base, or base money. This is certainly not the M1 money supply. Not M2. Not M3. The distinction is important. What is base money? Is it #gold? Is it government fiat? #Bitcoin?? Have some charts to share. This is installment #2…
2/ To begin, it's important to understand the universal accounting identity: Assets = Debt + Equity. Today, it's true that all fiat money is debt-based. But before exploring fiat money, let's look at asset-based money.
3/ Traditionally, commodity money has been asset-based, most notably gold. Gold is a true asset of the holder. If you own gold free and clear, it is your asset, and no one else's debt, no one else's liability.
Read 64 tweets
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#Khashoggi Case Thread: I am going to ‘pin’ this post to use it as an ‘Info Thread’ on the #Khashoggi Case. I am in #Turkey. I’ve been following the case closely and with access to sources & experts here. This is a very ‘sensitive’ criminal case due to ‘Diplomatic Booby Traps’!!!
The Evidence Obtained Outside Cameras will not show any evidence of ‘tempering’ but other than license plates of dozens of diplomatic cars (Many with tinted windows-large trunks) with related time stamp, drivers Info, model/year: Nothing.
#Turkish Intel-Investigative Bodies also have the list of all Diplomatic & Private Saudi & “other significant’ Planes in #Turkey for the period of ‘interest.’ Many of the Target airports have their own security cameras & related evidence.
Read 335 tweets
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Looking at chart of total world gold ETF holdings(last 14 yrs). Decline in holdings during recent gold dump is a tiny blip, unlike massive liquidation during 2013-2015 bear mkt. Managed Money (mostly levered hedge funds) Net Short (-77.3K), however, is truly off-the-charts.
The Managed Money Net Gold short(-77.3K)is record by a factor of nearly 4X previous record near 2015 bottom.The bottom in Nov 2008 had 40K net longs.This gold attack was all MM shorts.Not ETF dumps,central banks are buying,Asian seasonal demand has picked up-premiums thruout Asia
Note: Managed Money records have been kept since 2006 - but it's highly likely it's the all-time record.
Read 3 tweets
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He recalled placing fifth.

A few months later, Presley received his first guitar for his birthday; he had hoped for something else—by different accounts, either a bicycle or a rifle.
Over the following year, he received basic guitar lessons from two of his uncles and the new pastor at the family's church. Presley recalled, "I took the guitar, and I watched people, and I learned to play a little bit. But I would never sing in public. I was very shy about it."
In September 1946, Presley entered a new school, Milam, for sixth grade. The following year, he began bringing his guitar to school on a daily basis.

He played and sang during lunchtime, and was often teased as a "trashy" kid who played hillbilly music.
Read 94 tweets
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Strangely, the Dollar has been falling despite the Fed hiking rates. Why? Meanwhile, #Gold has been rising. zerohedge.com/news/2018-01-1…
Currently $btc = $10,116

Google trends is highly correlated with Bitcoin’s price.

Read 8 tweets

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