81 replies to this topic

[goldswinger]

http://stockcharts.com/h-sc/ui?s=$HUI...&a=82157739

We might not reach the previous lows due to the money printing, debasement , etc. but a significant downdraft is in the cards as the dollar heads to the 92-100 range. We are almost half way there already in 2 months and the dollar is just warming up for its up move.

GS.

Edited by goldswinger, 31 January 2010 - 12:14 AM.

[dougie]

are you thinking A=C GS?

[goldswinger]

are you thinking A=C GS?

I am, but I am also open to the possiblity of a shorter C given the money printing , debasement etc. as I mentioned in my post. GDX breaking 42 is significant. And then, there is the buck on a very strong weekly uptrend and the SPX starting its descent (shades of early Sumer '08).

GS.

[senorBS]

are you thinking A=C GS?

I am, but I am also open to the possiblity of a shorter C given the money printing , debasement etc. as I mentioned in my post. GDX breaking 42 is significant. And then, there is the buck on a very strong weekly uptrend and the SPX starting its descent (shades of early Sumer '08).

GS.

Si amigo, after last weeks muy malo trading it is not looking good for the gold sector, we live in an era of extremes and another may be coming to the south of the border side.

Senor

[dougie]

senor: you had 360 HUI as a your leading option some time ago: still dont think we bopunce there. a huge zone of consolidation...

[Tor]

senor: you had 360 HUI as a your leading option some time ago: still dont think we bopunce there.
a huge zone of consolidation...

My advice to you dougie is TO GET OUT. I think hope is no investment thesis, can go back in easily.

[goldswinger]

are you thinking A=C GS?

I am, but I am also open to the possiblity of a shorter C given the money printing , debasement etc. as I mentioned in my post. GDX breaking 42 is significant. And then, there is the buck on a very strong weekly uptrend and the SPX starting its descent (shades of early Sumer '08).

GS.

Si amigo, after last weeks muy malo trading it is not looking good for the gold sector, we live in an era of extremes and another may be coming to the south of the border side.

Senor

Here is another reason this does not look good at all.

http://stockcharts.com/h-sc/ui?s=$XAU...amp;a=190300897

Extremos seems to be the rule here. SPX going to 1150 from 666 and GOLD to 1200+ are good examples. the flip side is underway.

GS.

[dougie]

Not sure I see your point beyond a broken trendline at this point we clearly have a nice 3 wave structure only what am I missing?

[goldswinger]

Not sure I see your point beyond a broken trendline
at this point we clearly have a nice 3 wave structure only
what am I missing?

It 's a big deal. The attached weekly chart of GDX shows 5 major breaks of UPTREND lines that resulted in multi-month corrections since 2003. We are just starting another major one this December/January. There'll be bounces along the way.

http://stockcharts.c...p...5&listNum=1

GS.

[dougie]

In all cases but one the 200 dma provided support and we are nearly there moreover the trendline break is usually retested