gold/silver
#1
Posted 29 November 2010 - 11:03 AM
#2
Posted 29 November 2010 - 11:38 AM
dharma:
I am a chartist first, within the context of a commodity bull. Sometimes you just have to keep positioning into those patterns that, especially during corrective periods, act contrary to the herd.
Last week on 11-22 I added to an existing position in RBY based in both it's daily action and the fact that it was approaching a trendline break. I had done the same kind of probe in early November and was stopped out for a small loss a week later.
stubaby
#3
Posted 29 November 2010 - 11:44 AM
persistence pays off, good job stubaby
dharma:
I am a chartist first, within the context of a commodity bull. Sometimes you just have to keep positioning into those patterns that, especially during corrective periods, act contrary to the herd.
Last week on 11-22 I added to an existing position in RBY based in both it's daily action and the fact that it was approaching a trendline break. I had done the same kind of probe in early November and was stopped out for a small loss a week later.
stubaby
looks like mcewen left a bit too soon
dharma
#4
Posted 29 November 2010 - 11:48 AM
it looks like folks are getting extremely bullish on silver. the story that ted butler et al has been putting out there for years is bearing fruit. but 500 silver, is a bit of a stretch as an understatement. @some point trading silver for gold makes sense.
the euro problems are being highlighted, which i see as gold bullish. there is going to be mass qe2 or monetization to pay for this. there are many ways to look @the present picture. i have been thinking that we will correct . december has crosscurrents which will resolve to the bullish side. but not being a forecaster, my strategy is to buy weakness. we are oversold on the hourly charts, w/no divergences. so i am holding off on my buying. shorter time periods are diverging, but i am not biting. andrew jackson is not walking through that door. and the rest of the hoard is not even considering cutting spending. so, the bull will continue higher over time. the saber rattling in korea will continue , but unless there is a severe miscalculation, i doubt it develops into a major confrontation.
a small %of the time the market actually does something. the rest of the time is preparation. some of the juniors have been getting mojo, this is normal for this period in time. i do my homework, but which ones become the big winners is a matter of luck
dharma
dharma
Thanks for your thoughts. Printing money is all the CB's know to do and, of course, buy gold. I have a sell signal on both daily charts for slv and gld. For ~ solid support I see slv @ 24 and 22.50 with gld @ 1300 and 1288. Will know in the fulness of time.
Best to you.
johngeorge
#5
Posted 29 November 2010 - 12:43 PM
johngeorge
#6
Posted 29 November 2010 - 01:30 PM
http://stockcharts.c...amp;a=104541167it looks like folks are getting extremely bullish on silver. the story that ted butler et al has been putting out there for years is bearing fruit. but 500 silver, is a bit of a stretch as an understatement. @some point trading silver for gold makes sense.
the euro problems are being highlighted, which i see as gold bullish. there is going to be mass qe2 or monetization to pay for this. there are many ways to look @the present picture. i have been thinking that we will correct . december has crosscurrents which will resolve to the bullish side. but not being a forecaster, my strategy is to buy weakness. we are oversold on the hourly charts, w/no divergences. so i am holding off on my buying. shorter time periods are diverging, but i am not biting. andrew jackson is not walking through that door. and the rest of the hoard is not even considering cutting spending. so, the bull will continue higher over time. the saber rattling in korea will continue , but unless there is a severe miscalculation, i doubt it develops into a major confrontation.
a small %of the time the market actually does something. the rest of the time is preparation. some of the juniors have been getting mojo, this is normal for this period in time. i do my homework, but which ones become the big winners is a matter of luck
dharma
dharma
Thanks for your thoughts. Printing money is all the CB's know to do and, of course, buy gold. I have a sell signal on both daily charts for slv and gld. For ~ solid support I see slv @ 24 and 22.50 with gld @ 1300 and 1288. Will know in the fulness of time.
Best to you.
I'm not sure. My simplistic chart indicates that SLV is still in the same trading range that it has been in for a couple of months. The bump up from the trendline support today looks bullish to me.
#7
Posted 29 November 2010 - 01:45 PM
I'm not sure. My simplistic chart indicates that SLV is still in the same trading range that it has been in for a couple of months. The bump up from the trendline support today looks bullish to me."
uh'sgirl
Welcome! I certainly agree with your trading range observation. A close above $27 spot silver will negate my daily sell. I am not selling any trading positions today, rather, looking to add on corrections IF/WHEN THEY APPEAR. December is a so-so month seasonally for silver. January is when it really takes off.
Best to you.
johngeorge
#8
Posted 30 November 2010 - 10:29 AM
johngeorge
#9
Posted 30 November 2010 - 10:44 AM