45 replies to this topic

[dharma]

few will be able to trade this market successfully. sure , they will have their moments, but @some point they will miss the trend. volatility is about to come back
this is where one has to get out of the way and let the market make money for them. although, we had a pull back to the breakout, another retest would be a gift. if you are new to this check out that new piece cgnx put up. the ndx ended in a parabolic and so will this we have some time, years before it gets in full swing . get a seat and stay in it as long as possible. now it doesnt have to happen the same way. but gold topped in january of 80 and the shares topped in sept of 80, tacking on another 30-40%. mining is a biz and the higher and longer gold stays @high #s the more money the miners make. or if we are talking about explorers, then the more their potential gold in the ground is worth. think cmgi or jdsu were valued on the moon? wait till the fever hits the miners
dharma

this is a 6part series taking place in 87 on paul tudor jones, i enjoyed this piece . some good info for a trader


See 4:24:

"If nothing else, there will be a point in time - unquestionably - when the market turns down, when all of them, when the investment community almost at once will say, 'that may have been the top', or 'this was the top', and you're going to have all the people that are right now very comfortably invested, that are believing and feeding off the hope that the market will move higher, try to get out at the same time. When that happens, you know, it's gonna be, it's gonna be the famous Acapulco cliff dive."


remember this was 87

[JGUITARSLIM]

I agree Dharma, that's why from this point out I don't even try to trade this market. Actually, except for a few minor adjustments I have been holding my positions since Gold was last at 940. Besides, it's less stressful this way....

[dharma]

i am looking for a 50-70 correction in gold w/a low due the 20-23. dont think we break 1k , just another retest before the larger move up have been spinning our wheels here, will back up and gain traction. dharma

[rooster]

i am looking for a 50-70 correction in gold w/a low due the 20-23. dont think we break 1k , just another retest before the larger move up
have been spinning our wheels here, will back up and gain traction. dharma

Dharma, When the main markets start to sell off this fall, do you think the gold shares will be able to go up?

[dharma]

i am looking for a 50-70 correction in gold w/a low due the 20-23. dont think we break 1k , just another retest before the larger move up
have been spinning our wheels here, will back up and gain traction. dharma

Dharma, When the main markets start to sell off this fall, do you think the gold shares will be able to go up?

if the broads have a severe sell off, i dont think gold will hold up. but, those who have bet on a broad market sell off, since march are under water.
dharma

[dharma]

Bloomberg Dollar to Hit 50 Yen, Cease as Reserve, Sumitomo Says By Shigeki Nozawa Oct. 15 (Bloomberg) -- The dollar may drop to 50 yen next year and eventually lose its role as the global reserve currency, Sumitomo Mitsui Banking Corp.’s chief strategist said, citing trading patterns and a likely double dip in the U.S. economy. “The U.S. economy will deteriorate into 2011 as the effects of excess consumption and the financial bubble linger,” said Daisuke Uno at Sumitomo Mitsui, a unit of Japan’s third- biggest bank. “The dollar’s fall won’t stop until there’s a change to the global currency system.” The dollar last week dropped to the lowest in almost a year against the yen as record U.S. government borrowings and interest rates near zero sapped demand for the U.S. currency. The Dollar Index, which tracks the greenback against the currencies of six major U.S. trading partners, has fallen 15 percent from its peak this year to as low as 75.211 today, the lowest since August 2008. The gauge is about five points away from its record low in March 2008, and the dollar is 2.5 percent away from a 14-year low against the yen. “We can no longer stop the big wave of dollar weakness,” said Uno, who correctly predicted the dollar would fall under 100 yen and the Dow Jones Industrial Average would sink below 7,000 after the bankruptcy of Lehman Brothers Holdings Inc. last year. If the U.S. currency breaks through record levels, “there will be no downside limit, and even coordinated intervention won’t work,” he said. China, India, Brazil and Russia this year called for a replacement to the dollar as the main reserve currency. Hossein Ghazavi, Iran’s deputy central bank chief, said on Sept. 13 the euro has overtaken the dollar as the main currency of Iran’s foreign reserves.... dharma

[dharma]

richard russell has been in the markets for 50 years
http://www.321gold.c...sell101609.html
dharma
longevity in this biz says alot

[dharma]

gold remaining over its old highs @1032. in spite of just chewing up time, but not giving much up in terms of price this is a sign of a strong market i am looking for a low 20-23 market has not given up much from last weeks highs i am starting to do some light buying, i am reading this market as being strong and not giving up much thinking we are going to bust another move up. even gold bugs are not believers- as how i am interpreting hulbert will finish my buying as the week progress' i do see weakness in end of november, dont know from what level it develops this is a strong market dharma

[dharma]

this week is the bradley my dollar charts are showing monthly, weekly, and daily rsi divergences. i use 9 bar wilder being cautious. did 1 buy and i will dump it in a heart beat, waiting to see how this plays out dharma ps. i reserve the right to change my mind . as in above post

[dharma]

big implications

By Allen Sykora Dow Jones Newswires

1:55 p.m. CDT, October 19, 2009




A move by CME Group Inc. to allow gold to be used as collateral for margin requirements on all exchange products raises the profile of the metal, but the development probably will not mean a significant increase in demand for physical gold itself, analysts said.

The new global policy became effective Monday in accordance with a member's note issued late Friday, said a CME spokesman in London.

"I guess that would show gold has moved more into an asset class than anybody would have ever thought," said Charles Nedoss, senior account manager and metals analyst with Peak Trading Group.

Sterling Smith, commodity trading advisor and analyst with Country Hedging, called the change a "mild endorsement of gold." And, he said, it might be viewed as effectively another "thump" against the U.S. dollar and paper currencies in general
http://www.chicagotr...,0,416480.story
dharma

Edited by dharma, 19 October 2009 - 09:48 PM.