294 replies to this topic

[dharma]

gold has not taken out its last low, but hui ,gdxj, gdx have gdx, gdxj, hui now have hourly divergences lets see if the divergences hold. this is bottoming action! keep in mind rising rates are gold bullish, not @1st , but the market will recognize what rising rates mean! lets see if this mornings actions hold i have money to redeploy. dharma stubaby did you get my request?

Edited by dharma, 20 March 2012 - 10:11 AM.

[dharma]

As for sentiment, yesterday's HGNSI fell to a new multiyear low of -15.7%.
so most gold timers are short!
then there is this from the london trader
http://kingworldnews...Their_Bids.html
dharma

[stubaby]

rising yields @1st may not be seen as bullish for gold, but eventually they will be seen as bullish. it will be a sign that the fed is losing control , if interest rates begin rising
1640 is the beginning of a new price cycel 1659 is the death zone for the decline. prices have tended to gravitate to this 1659, but not mush is happeing. sure we could be putting in al ow. i want to see more information before i come to that conclusion.
dharma

Seeing a "curl-up" in MA's on the Precious Metals and Miners Indices here. Looks like they need one more Wave down here to complete corrective. Setting-up for divergences at the bottom now.

stubaby

Nice reversal here - a little follow-thru and BINGO! Another swing bottom or the launch point for Wave 3? Inquiring minds want to know!


stubaby

[dharma]

the weight of the evidence yesterday, the miners put in bullish hammers the miners took out their last lows, gold did not the miners indexes have hourly divergences from oversold as evidenced from the sentiment indicators , the average adviser is short. this is sentiment of bottoms. so big boy, what are your reservations. obviously this is not a bad place to buy however, even though the weight of the evidence , and before i forget, yesterday was the 1st day of spring, which is significant for gann. change of season, change of trend. w/all that said, i have an unsettled feeling that we may create daily divergences. now, this is wearing the turbon that i had thrown away, so if you have cash buy. and save some cash should that develop. now jim and i had talked awhile back , and i told him, we are going to earn every nickel. this is not an easy game. lets see if the rally brings new highs or more correction. surprises in bull markets are on the upside. i pray that war is not in the cards! if so, it could get really ugly. irans allies are russia and china. today they accept other currencies as payment for oil, which was the kiss of death for hussein and ghadafi! if in fact these were the lows, then we should be in 3 . lets see how it plays out dharma

[dharma]

as a result of raising taxes on gold, the indian buyers went on strike , that strike ends thursday. so, lets see what effect renewed physical demand has on the market?! dharma

[stubaby]

so if you have cash buy
dharma

Added to PVG position earlier (13.78) - could go lower towards 50% or 61.8% FIB, but this "re-test" of the early 2011 highs looks like a good add to me!

http://stockcharts.c...96130&r=453.png

http://stockcharts.c...59745&r=687.png

Note: Due your own DD - Shelf Prospectus has presurred shares the last 2 days.


stubaby

[stubaby]

so if you have cash buy
dharma

Added to PVG position earlier (13.78) - could go lower towards 50% or 61.8% FIB, but this "re-test" of the early 2011 highs looks like a good add to me!

http://stockcharts.c...96130&r=453.png

http://stockcharts.c...59745&r=687.png

Note: Due your own DD - Shelf Prospectus has presurred shares the last 2 days.


stubaby

Also, adding to NG:

http://stockcharts.c...96126&r=980.png

http://stockcharts.c...17691&r=974.png

stubaby

[dharma]

stubaby, have you received any emails from me, i sent 2, also pm you @traders talk dharma

[dharma]

stubaby 12.2 is the 200day ma on pvg, its looks to me that is where it is headed! ok my fears had merit. now what 1621 breaks into the last price cycle. w/1603 being the death zone march 29 th is the end of this time cycle i have next week as powerful astro turns for the market. it also happens to be month end.hulberts snetiment # were unchanged for yesterday so gold timers are recommending shorts. i am on the prowl, but my hands are in my pockets. more hourly divergences. waiting , watching , patience. dharma

[johngeorge]

stubaby 12.2 is the 200day ma on pvg, its looks to me that is where it is headed!
ok my fears had merit.
now what
1621 breaks into the last price cycle. w/1603 being the death zone
march 29 th is the end of this time cycle
i have next week as powerful astro turns for the market.
it also happens to be month end.hulberts snetiment # were unchanged for yesterday
so gold timers are recommending shorts.
i am on the prowl, but my hands are in my pockets.
more hourly divergences.
waiting , watching , patience.
dharma

Yes, you bet. Patience, patience, patience. Still waiting to buy. Looking at SLW as I believe it is the best silver play for me.