179 replies to this topic

[stubaby]

dharma:

To me this is another "normal" pause in the early stages of the uptrend.

Silver "backtesting" breakout
http://stockcharts.c...802245&r=57.png

GDX backtesting move above 50-Day MA and gathering 'cause' for a move higher thru 100 and 200-day MAs
http://stockcharts.c...26235&r=446.png


stubaby

Note: Individual issues doing rather well here!

[dharma]

yes, it is quite early in the newly forming trend. i never lose sight of the fact that corrections are part of the process. speaking of which, what does one do when a correction comes. in other words, how does one handle the correction. in bulls, corrections are buying opportunities. i dont get fixated on august 2, if the debt ceiling is not raised, they will still manage to get by. its really a non event. both sides, are fixated on what they want. hopefully we wont wind up w/more socialism. ala government motors. socialism does not work. when the press is fixated on something, its designed to get your eye off the ball. we closed above 1549 which is all i care about, its an indicator that gold wants higher. the patterns on the miners indicate they are heading higher as well remember the markets are designed to separate you from your $$$. after this next high , there will be a larger shakeout. for now , i ride the wave dharma

[stubaby]

dharma: Hopefully we will hear "Gold double top" from the pundits over the next several days - would set-up a move above the next round number and beyond (my targets for this move remain 1,630 to 1,660 minimum) stubaby

[dharma]

well the realization has come that they may not get it together in time for aug2nd. and really what are we talking about here. raising the debt ceiling? govt not being able to pay its obligations? this is all symptoms that folks are losing faith and confidence in the govt. its not just here , its a worldwide phenomenon. stay tuned this will grow. hopefully some remain long and didnt sell their gold for spinach to the banksters. or whoever it was that engineered that small correction. take note of what happened. in the run , you can buy back, put you will pay higher prices and your stops will give greater losses , should you be wrong. or try to trade. thursday eve is the full moon. i think we may get a few days of pullback after the full moon. nothing major in the way of turns till early and late august. bulls : buy weakness sell strength 1750 is a real magnet here 1585 is the next resistance point. here we are. enjoy the run. dont get too greedy. dharma

[JGUITARSLIM]

Updated weekly Gold cycle....currently on week 2 of this cycle.
Note the shortest time Gold has topped coming off a low was 7 weeks back in early June 09.
Looking at the action in miners (i.e. GDX, GDXJ, etc.) tells me this move is for real.
Got plenty of time to go...

Edited by JGUITARSLIM, 13 July 2011 - 03:03 PM.

[dougie]

why not say we are on week 24?

[JGUITARSLIM]

why not say we are on week 24?

Historically 90% of these cycles run 23 weeks or less.
Interestingly, the last two cycles were stretched.
Looking at the chart you'll see tyically the peak to cycle low has been running anywhere's 5 to 8 weeks.
I highly doubt after just making new forever highs on 'week 24', that we didn't just see the bottom.
This last cycle didn't give up much ground at all. IMO...that is very telling.

[dharma]

turbulence around the 1585 and full moon. the real battle comes in play @the 1600 and higher area. it will be a royal battle.
1603 is the next #in this cycle. no worries here. there is enough fundamental news for the market to chew on . the realization that italy is also in trouble , is huge. italy is the 3rd largest debtor. yes, fundamentals matter. the 22 month cycle (check the charts, it is plain as day) tops august/october. and that is what i am looking for. from here it looks like august. the miners indicating that they want to try for the highs. i doubt that silver makes new highs on this leg, but my doubts dont affect my thinking. after the mini parabolic rise in silver, my best guess is it needs time. eventually jpm and company will be overrun, they will then change the rules. anyway good trading. on another board where i hang, guys say they capitulated 1/2 their positions, selling their gold for spinach. and where do you put the cash? why in depreciating dollars. no way to get rich!
armstrongs latest
http://www.martinarm...007-13-2011.pdf

[dharma]

ssstutttttering dharma

Edited by dharma, 14 July 2011 - 10:28 AM.

[leocleoc]

Ron Paul vs Bernanke: Is Gold Money?

http://www.youtube.c...L10vZ1Y#t=4m27s