Jump to content



Photo

are we approaching recognition?!


  • This topic is locked This topic is locked
305 replies to this topic

#51 SemiBizz

SemiBizz

    Member

  • Traders-Talk User
  • 20,126 posts

Posted 04 April 2012 - 02:33 PM

XAU is in another trading band here...

There is lotta room to fall from here unless the XAU can climb and maintain 171.71.

More downside than you think.

http://stockcharts.com/c-sc/sc?s=NEM&p=W&b=5&g=0&i=t38723204022&r=1333567970109$.png
Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/tradingcoach1

#52 dougie

dougie

    Member

  • Traders-Talk User
  • 5,074 posts

Posted 04 April 2012 - 03:04 PM

Stu: not sure what you are seeing to suggest that. This looks more and more like 08. technically at least dougie: This is the "puke-fest" that ends long correctives - "be happy", however it will take time here to "hammer out a bottom": stubaby [/quote]

#53 dougie

dougie

    Member

  • Traders-Talk User
  • 5,074 posts

Posted 04 April 2012 - 03:05 PM

Semi: how much downside you think?
HUI to the 61% retrace at 335?

XAU is in another trading band here...

There is lotta room to fall from here unless the XAU can climb and maintain 171.71.

More downside than you think.

http://stockcharts.com/c-sc/sc?s=NEM&p=W&b=5&g=0&i=t38723204022&r=1333567970109$.png



#54 dharma

dharma

    Member

  • Traders-Talk User
  • 6,137 posts

Posted 04 April 2012 - 03:17 PM

yes, it does look like 08, the rsi readings are similar to the bottom in 08. in all the mining indexes.
there was capitulation today. we will see how much more there is.
dharma
[quote name='dougie' date='Apr 4 2012, 05:04 PM' post='618221']
Stu:
not sure what you are seeing to suggest that. This looks more and more like 08. technically at least

dougie:

#55 fluid

fluid

    Member

  • Traders-Talk User
  • 2,837 posts

Posted 04 April 2012 - 03:32 PM

gold stock bull is over for another year. we may see a bounce but all bounces are to be SHORTED. Something fundamental has changed and there is a change of character.

#56 SemiBizz

SemiBizz

    Member

  • Traders-Talk User
  • 20,126 posts

Posted 04 April 2012 - 04:59 PM

Might be more like approaching IGNITION...

Looks to me from this chart if the XAU doesn't turn back up, there's going to be plenty of pain to go around in the broader indices...

http://bigcharts.mar...&mocktick=1.gif
Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/tradingcoach1

#57 SemiBizz

SemiBizz

    Member

  • Traders-Talk User
  • 20,126 posts

Posted 04 April 2012 - 05:34 PM

There is no reason at all to buy gold right now until the XAU turns back up... and then there will be a delay...

http://bigcharts.mar...&mocktick=1.gif
Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/tradingcoach1

#58 Rogerdodger

Rogerdodger

    Member

  • TT Member*
  • 23,930 posts

Posted 04 April 2012 - 10:34 PM

Laundry is looking for $1400 for a low.
Jack Chan:
Summary
Long term - on major sell signal.
Short term - on sell signals.
A major sell signal is now confirmed, therefore, upon the next cycle bottom, only GLD and CEF remain tradable as long as their configs remain bullish.

Edited by Rogerdodger, 04 April 2012 - 10:37 PM.


#59 johngeorge

johngeorge

    Member

  • TT Member+
  • 4,242 posts

Posted 05 April 2012 - 07:32 AM

This End Of Day chart shows a Bull Trap yesterday and projects silver moving back down to 28.45.

This End Of Day chart still projects gold to 1458.

If you are trading these markets be on your toes. As has been pointed out by others on the board the volatility will only increase and trading will be more and more difficult. As for myself I remain a bull on silver and gold, but, I have left trading to the pros.
Peace
johngeorge

#60 tradermama

tradermama

    Member

  • Traders-Talk User
  • 909 posts

Posted 05 April 2012 - 08:26 AM

This End Of Day chart shows a Bull Trap yesterday and projects silver moving back down to 28.45.

This End Of Day chart still projects gold to 1458.

If you are trading these markets be on your toes. As has been pointed out by others on the board the volatility will only increase and trading will be more and more difficult. As for myself I remain a bull on silver and gold, but, I have left trading to the pros.

Fwiw, yesterday on Dorsey's pnf the sell targets 1550. I also have a Rut sell too which imo goes hand in hand with the selling if liquidity is going to be drying up...target 796. I personally watch the nyse bullish percent. If we got a couple of hard down days, that could go on defensive which would be the first time this year. Still has a way to go but it's worth watching even for gold because it could put pressure on gold.
TM

Edited by tradermama, 05 April 2012 - 08:30 AM.