173 replies to this topic

[stubaby]

nice work ken.
there was/is alot pressure in the gold market, lets see if todays action is like the 63 dollar day we had a couple of weeks ago, or will there be follow through, to take out the 1650 area?
i am long, and on the buy, but not chasing. i will wait and see what develops over the next 2-3 months.
dharma

I second that comment - nice work Ken!

Need to get some distance up off the bottom here on this move ($1,650 to $1,700) to create some 'space' for a higher low later in July/August (ideal).

Note: Ags are leading here as they have at other market turns

stubaby

[dharma]

folks seem fairly sure that a crash is in store for the pms. action is not compelling, but the 4th is upon us and folks do take off around the holiday. nice pop in the metals on friday. below 1681 and its all noise. as stubaby mentions the hot dry weather is not lost on the ags. rising food prices are problematic for all, but they do lend strength to the metals. the oil pop on friaday, could signal reversal , however the november election has seen oil prices weaken going into the election. then oil prices mysteriously rise after the election. dharma

[tria]

I am looking for testing the $1,640 area and Silver $28.60-28.80 this week. I am not at that bullish after mid July or early August at the latest. -tria

[dharma]

i am cautiously optimistic. w/the worlds situation the way it is, surprises can occur. the grains are galloping higher. this seems to be a bad year for crop production. which will also aide the price of the pms. also the persian gulf situation is causing oil prices to rise, which is also gold friendly. i am keeping my hands in my pockets until the aug/sept window. after that i see gold prices rising. sure there will be corrections. gdsxj is in falling wedge pattern. i am alert here. and i am on alert. my inclination is to wait. dharma

[stubaby]

i am cautiously optimistic. w/the worlds situation the way it is, surprises can occur. the grains are galloping higher. this seems to be a bad year for crop production. which will also aide the price of the pms. also the persian gulf situation is causing oil prices to rise, which is also gold friendly. i am keeping my hands in my pockets until the aug/sept window. after that i see gold prices rising. sure there will be corrections. gdsxj is in falling wedge pattern.
i am alert here. and i am on alert.
my inclination is to wait.
dharma

http://stockcharts.c...71969&r=977.png

http://stockcharts.com/c-sc/sc?s=$GOLD:$SILVER&p=W&yr=11&mn=3&dy=0&i=p34254357899&a=259871955&r=278.png

[dharma]

anything is possible @this point. i am watching the grains. severe heat and no rain has lit a match under corn, wheat , and beans. rising food prices help to put a floor under gold. gold needs to get above 1650 then 1691 to suggest that we are having an impulse higher. oil prices have snapped back in a substantial rally. the iranian sanctions are having bite on their economy. do they have the might to shut the straits of hormuz? there are alot of questions out there. the one main question for me, is the sovereign debt crises being resolved? are the world governments bent on cutting debt? i can wait . and wait in the pms. its only a matter of time can below 1500 gold be seen , absolutely. so what. in retrospect it will be another blip on the chart dharma

[dougie]

seems that we might just have peaked on the 3rd and now down for two more weeks into new lows unless we can get moving here about those recent highs gold brushed off some very bullish news this am is that a good sign?

[stubaby]

anything is possible @this point.
i am watching the grains. severe heat and no rain has lit a match under corn, wheat , and beans.
rising food prices help to put a floor under gold.
gold needs to get above 1650 then 1691 to suggest that we are having an impulse higher.
oil prices have snapped back in a substantial rally. the iranian sanctions are having bite on their economy.
do they have the might to shut the straits of hormuz?
there are alot of questions out there. the one main question for me, is the sovereign debt crises being resolved?
are the world governments bent on cutting debt?
i can wait . and wait in the pms.
its only a matter of time
can below 1500 gold be seen , absolutely. so what. in retrospect it will be another blip on the chart
dharma

Overlays of SPX and COMP (1980-2000) Parabolas with HUI labeling



stubaby

[stubaby]

anything is possible @this point.
i am watching the grains. severe heat and no rain has lit a match under corn, wheat , and beans.
rising food prices help to put a floor under gold.
gold needs to get above 1650 then 1691 to suggest that we are having an impulse higher.
oil prices have snapped back in a substantial rally. the iranian sanctions are having bite on their economy.
do they have the might to shut the straits of hormuz?
there are alot of questions out there. the one main question for me, is the sovereign debt crises being resolved?
are the world governments bent on cutting debt?
i can wait . and wait in the pms.
its only a matter of time
can below 1500 gold be seen , absolutely. so what. in retrospect it will be another blip on the chart
dharma

Overlays of SPX and COMP (1980-2000) Parabolas with HUI labeling



stubaby

Note: Thanks to Dsquare at Smart Investment: mexicomike.ca

[dharma]

what a surprise , a poor jobs report. this is a trend. jobs growth is steadily declining. there are so many unknown variables, its tough to see how employers can feel confident hiring gold is back to support and the gdx, is following one of its primary rules.-all gaps must be filled nothing revealed yet. of course the fed and ecb will have to print. the question is when and how much. in the meantime. i see nothing very compelling if you are on the sidelines and have no position, then its a different story. real money is on its way back into vogue dharma