178 replies to this topic

[dharma]

yesterday i listened to nenner. then rick rule . they were all warning that gold will correct or make new lows in the summer doldrums. ok yeah maybe. what i see is the ags are starting an uptrend. there are droughts in california and brazil. oil and ng are in uptrends. yesterday palladium broke out. gold is not the only commodity moving up. then you have the softs starting to look interesting. bull markets begin w/disbelief- check. the bears are still loud. and i will add , even many of the bulls are bearish just not on this rally. there are a few bulls on the board. i am one of em. gold is not moving on its own. it has support from the commodity sector. well you can be wrong dharma? obviously. above 1434 then i turn more decidedly bullish. abx has , it appears been forward selling . why a gold investor would buy this stock is beyond me. in the last phase of the bull , their bearish bets cost them billions if ever something is awry in the sector investigate abx and your forensics usually will stop there. they are owned by the banksters. the may elections are not that far off. when gold crashed in april the indians bid for a huge quantity of gold . they received a very small fraction of what they bid for. lets see what happens if modi gets elected. all over the world folks want change. modi seems representative of that. he points to what he did w/gujarat. his policies worked. corruption was cut way back and gujarat thrived. this is a process . slow and steady. not a parabolic. that comes w/confidence and steady improving fundamentals not yet dharma

[dharma]

also keep in mind the debt worldwide is not stagnant it keeps growing. and that is the reason that brought me to gold in the 1st place. the debt will be paid one way or another. its very rare that a sovereign reneges on its debt dharma

[dougie]

all those paper claims against real wealth. No way they can all be settled. Does the dollar get scarified to make that possible? I don't think so. dollar hegemony is most important to the powers that be, esp the military industrial complex imo

[dougie]

i don't see anything very impulsive here so far ST

[dougie]

Jury still out here: http://scharts.co/1cCm5sr
did we just complete an abc off the owe here or do we have another wave higher. if it is the latter it should be a 3 of something and not acting like a 3

I think on glance it favors down

[gannman]

i agree what i am seeing is a LOT of disbelief. a lot of it. i like it that nenner is bearish or anyone else who is a guru. and nenner is pretty good but not this time ha ha. he be wrong but well see right now i am thinking a top of some kind is coming in the general market which is going to push gold higher.

[johngeorge]

Did the US Dollar fall out of bed this morning? Is this temporary or signaling a sustained move lower?

[dharma]

In the book 45 Years in Wall Street, Gann wrote about the 45 day trend cycle length in stocks and commodities. He basically said to be on the lookout for a reversal around this interval if a commodity was trending aggressively with little pause into it. Many traders today refer to this as the “Gann Death Cycle”. On Monday, Gold touched its highest level in over four months. The trading day count was 44 days from last year’s low. On day 45 the market turned lower. A deeper correction is certainly possible, but the metal remains in a positive overall position while 1300 holds. The latter half of next week and the first part of the week of March 17th look extremely important for XAU/USD from a longer-term cyclical perspective. --- Written by Kristian Kerr, Senior Currency Strategist for DailyFX.com it looks to me like gold formed a rectangle on the hourly charts. it formed it while it was going down, which could indicate a break down out of the rectangle. yes, it seems some of the gurus are bearish in bulls folks chase and the shorts use rallies to get short. so Gold sentiment remained fairly optimistic... HGNSI unchanged yesterday at 50% / MarketVane’s Bullish Consensus rose a point to 51%. so, its not sneaking up on folks breaking into the next price cycle is key for me , ie above 1358 and seeing a couple of closes above that indicates higher prices. so far that level has been well defended. not a time for buying dharma

[dougie]

never short a dull market? unless it is miners?

[senorBS]

SLV/Silver trading beautifully, IMO there is a bueno chance a tres wave norte basis daily charts could now be getting underway, if wave 3 travels 1.618 times wave 1 the projections are SLV 24.93 and silver 26.14, please realize that while this is a "valid" possibility there are other valid counts in which silver does not go nearly that high. I am married to NO scenario and neither should anyone be, always be FLEXIBLE and as always DYODD NO BS Senor