59 replies to this topic

[stubaby]

Another snapshot chart:

http://stockcharts.com/c-sc/sc?s=$GOLD&p=D&yr=0&mn=9&dy=0&i=p73400755896&a=200818272&r=4109.png

1,380 recaptured - 1,408 - then 1,425 next "in line". Downside risk is lessening as time goes on here. Upside targets for Wave 3 are compelling!

stubaby

[dharma]

1358 is the beginning of this cycle 1341 is the end of the last price cycle banging on 1358 now. this decline should turn monday. i hate throwing back profits, but such is the nature of the beast. oversold on hourly charts. watching . dharma

[SemiBizz]

If you are trading gold, it's quite a volatile animal.

But Volume Dynamics has the short term nailed...

Here's today's GOLD FORECAST:

We did see the US$ get hit hard on Thursday, especially against the Euro and initially as the EUR$ broke through 1.3225, we saw gold bounce into the low 1390s, but as the day wore on, the US$ did not recover much of it's losses, yet gold and silver tanked, the gold contract fell all the way to 1369. Now we did see the strongest volume near the highs today over 1390, and pulled back on lighter volume, but the PRICE DESTRUCTION was significant as gold closed the session at 1374 near the low of the day. Although we did see the strongest volume near the high, we were no where near the benchmark volumes, so we do have quite a pullback going here. Now we could see a push higher here in a consolidation, but that 1355 high volume hourly low target looks compelling.

[tradermama]

1358 is the beginning of this cycle
1341 is the end of the last price cycle
banging on 1358 now. this decline should turn monday. i hate throwing back profits, but such is the nature of the beast.
oversold on hourly charts. watching .
dharma

It will have to wait till Tues..which lines up with the full moon effect..full moon Wed..we're closed Monday for MLK Day...i agree with you Dharma. It's relative to one's time frame..as we know..when the correction ends..it ends quickly and swiftly...but if 1350 goes..then 1325 is next line in the sand..Next week could be more of a consolidation...and then the Mercury in Saggi (Jan 25-Feb 5) takes us higher to the 1400s..from there we see if we make new highs or must wait longer..but it will come..too many people thinking under 1300...we'll see how loaded the boats are
TM

[dharma]

If you are trading gold, it's quite a volatile animal.

But Volume Dynamics has the short term nailed...

Here's today's GOLD FORECAST:

We did see the US$ get hit hard on Thursday, especially against the Euro and initially as the EUR$ broke through 1.3225, we saw gold bounce into the low 1390s, but as the day wore on, the US$ did not recover much of it's losses, yet gold and silver tanked, the gold contract fell all the way to 1369. Now we did see the strongest volume near the highs today over 1390, and pulled back on lighter volume, but the PRICE DESTRUCTION was significant as gold closed the session at 1374 near the low of the day. Although we did see the strongest volume near the high, we were no where near the benchmark volumes, so we do have quite a pullback going here. Now we could see a push higher here in a consolidation, but that 1355 high volume hourly low target looks compelling.

congratulations!your other trades had you running to cover!
i am surprised they let you peddle your wares on this board
dharma

[dharma]

cant be sure this is the low yet. but it looks promising. bradley turn and a rally. looked @corn, wheat,soybeays, and rice charts this am. food prices are set to soar. jim rogers has been in this camp for a while. so, have i but if 80 was indication soaring food prices will result in metals soaring more. gold stocks vs gold , the miners have gotten taken to the woodshed vs the metal and are way undervalued. and the miners vs the broads, the miners are again back @the woodshed. i dont know when or what price it will take, but i have to think the undervalued miners will catch up. maybe this time really is different. cash is a position, well as i see it cash is a losing position. cbs are printing. and stuff is recognizing their printing. stuff is going higher. against other fiats the dollar can relatively go up or down. but against stuff it will lose pp. my job is to try and maintain or increase my pp. boring , but i will sit in the metals for now. i do think that a big shakeout is coming , but after this upcoming high. 11 is going to be a see saw year. full of surprises. hopefully, you didnt get snaked out of your positions and sold to the banksters. and oh by the way no position limits @cftc. what a surprise! dharma

[tradermama]

cant be sure this is the low yet. but it looks promising. bradley turn and a rally. looked @corn, wheat,soybeays, and rice charts this am. food prices are set to soar. jim rogers has been in this camp for a while. so, have i but if 80 was indication soaring food prices will result in metals soaring more.
gold stocks vs gold , the miners have gotten taken to the woodshed vs the metal and are way undervalued. and the miners vs the broads, the miners are again back @the woodshed. i dont know when or what price it will take, but i have to think the undervalued miners will catch up. maybe this time really is different. cash is a position, well as i see it cash is a losing position. cbs are printing. and stuff is recognizing their printing. stuff is going higher. against other fiats the dollar can relatively go up or down. but against stuff it will lose pp. my job is to try and maintain or increase my pp. boring , but i will sit in the metals for now. i do think that a big shakeout is coming , but after this upcoming high. 11 is going to be a see saw year. full of surprises.
hopefully, you didnt get snaked out of your positions and sold to the banksters. and oh by the way no position limits @cftc. what a surprise!
dharma

Hi Dharma,
I just listened to Merriman's webcast that was on 1/9. FWIW, here is what he says...he thinks silver and gold are topped out right now..mainly because of the bearish divergence on Jan 4 when silver hit a high and was not matched with a hi in gold...at the time on 1/9 he thought that as long as silver stayed between 25.05-28.50 a 1/2 primary cycle low would be in the next week or so (which is now)..and to buy silver above 26 for when gold/silver would take off for the Mercury in Saggi for a 3-13 day rally..around Jan 24/25 into Feb 5...he thinks gold is headed to 1500-2000 this year...even to 4,000 by the end of the decade..

If there is no new highs for silver then the 111 week cycle low is coming into effect which is anytime from now till May..however silver could also go with gold's low (forgot the cycle name) anytime from August plus/minus 3 months..basically an important low in gold anywhere from May to Nov...IF gold topped out..and if that happened..he sees a 30-50% correction from the top...but felt that the 33% fibonacci at 1150 of the recent top would hold it. If he is wrong and we make a new high in gold..he said then the top in gold would be Jan/Feb or March..then we still have that low in gold anywhere from May through Nov.

If 1320 is taken out in gold, then he feels we are in that cycle low going down into Aug..plus/minus 3 months

He feels money is going to come out of commodities including gold/silver and go into equities while Jupiter is still in Aries which ends in JUne..but we can also see an asset bubble in equities like 1997-2000 that extends it to June 2012...Ultimately after his low target of 21-21.50 on silver..silver would make an all new high in this decade....He just felt that 31.75 was an important top right now.

After this asset bubble is done..you want to be long commodities especially gold and silver ...which is between 2012-2020

So we shall see how this comes out...But you want to be long Jan 24/25 for a 3-13 big rally in gold/silver.
TM

[dougie]

it sounds like merriman has all of hte bases covered here. Might get hooped in half, or maybe to 1150 only, or maybe run first before correcting. did I miss anything?

[tradermama]

it sounds like merriman has all of hte bases covered here. Might get hooped in half, or maybe to 1150 only, or maybe run first before correcting. did I miss anything?

I know...they all seem to hedge...That's why you gotta trade the technicals imo if you plan on trading. But the point to all that was if we dont make a new high coming into the Jan 25th period of when Mercury goes into Saggitarius. ( new top Jan-March)..then his longer term cycles most likely would in charge...which would mean a low anytime from May through Nov...for gold..and if silver follows gold..then that goes in line with that..but if silver beats to its own drum...it will then follow it's 111 weekly cycle low that is expected anytime from now to May. Perhaps May is the month for both lows? You can't trade off of this. This is just a reconciliation if the TA lines up to these periods.

Merriman isn't a fly by night. If you subscribe to him, you get the details as it goes. This is just a future weather forecast..and as time goes on, it will be more narrowed and obvious.

TM

Edited by tradermama, 19 January 2011 - 07:06 AM.

[dougie]

yes, i was being a bit too sarcastic and I certainly appreciate your sharing of your views on this! May _june lows are on a number of folks radars including Armstrong I still favor dharmas call fora an intervening high, as i dont see a convincing 5th having been put in, but i wont be dogmatic I would love to buy lots of gold 300$ lower dont think i will get that chance