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the next leg


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#1 dharma

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Posted 24 June 2014 - 10:13 AM

in the short term, which i dont focus on, i see the market spinning its wheels here and then correcting. the indian budget has to be submitted by the 1st week in july. so , that is something i am waiting for. from that we should get an idea of what happens w/the 10% tax and the 80/20 rule. investment capital has been finding its way to india. imo, it is being set up to become an economic powerhouse , the brics will be a force in the future. the wild cards in all this are the ukraine, iraq, and china in the s/sea. an event could change things in a hurry.
from a technical standpoint the metals and miners look great. it is all in the early innings. so, patience is required. my work shows a big rise into the autumn.
then we see from there. markets go from being hated to being loved. the volume chart on the miners indicated accumulation was taking place before the big rise.
i also ventured into some dba, and i am looking @ one of the 7sisters on a pullback. there are 2 that offer 4+% yield.
dharma
listening now turk interviews james grant http://www.planbecon..... B Economics)

Edited by dharma, 24 June 2014 - 10:22 AM.


#2 dharma

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Posted 24 June 2014 - 01:49 PM

spinning its wheels here. when does the other shoe drop!?

http://www.internati...rs-versus-chess
dharma

#3 dharma

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Posted 25 June 2014 - 10:15 AM

the sector is overbought. correction or buying opportunity coming. we have expiration too
uso is an etf for natural gas. put up a monthly, now this is a huge base. a breakout from this base can support a large move higher. dont be lulled to sleep by the iraq/syria situation it is huge . and opens a huge can of worms. not mentioned in all of this is the kurds , who lost their homeland when the world was redrawn and didnt include them. their land has significant oil deposits, which i suspect they are going to try and have a say!
firm to higher oil prices will generate inflation.
well singapore wants in on a new goldcontract and they are starting an exchange in sept http://www.bloomberg...hifts-east.html
india has been off line for quite some time. w/modis election folks have anticipated a lowering of the 10%tax and abolishing the 80/20 rule. we are still weeks away from a new budget. so smuggling is again on the rise http://timesofindia....ow/37146733.cms
sentiment
The HGNSI was unchanged yesterday at -16.7%
. MarketVane was unchanged today at 53%
DSI rose a point to 50%.
i look for volatility to express itself, complacency is about to end. i think the 40+ day will be seen in a year or so as being fairly mild
24 on gdx is a possibility on this correction.
9months before the 21 month cycle ends.
keep your arms and legs inside the vehicle
dharma

Edited by dharma, 25 June 2014 - 10:18 AM.


#4 johngeorge

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Posted 25 June 2014 - 10:38 AM

Speaking of natural gas.........Putin and Gazprom will bypass the Ukraine in a year or so. Putin has Europe by the short hairs and it appears all the EU can do about it is, well, nothing! Austria signs deal with Russia: Zero Hedge
Peace
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#5 senorBS

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Posted 25 June 2014 - 12:02 PM

I did a little "tree trimming" today taking some muy bueno profits, still very long BSing away Senor

#6 dharma

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Posted 25 June 2014 - 01:50 PM

a couple more days of this or a week or so.
when you see this from jpm, http://www.moneynews...6/24/id/578872/
golds time is coming
dharma

#7 goldfungus

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Posted 25 June 2014 - 02:41 PM

I did a little "tree trimming" today taking some muy bueno profits, still very long

BSing away

Senor


Back on your bike, Sir! LOL

#8 dharma

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Posted 26 June 2014 - 10:04 AM

i sold lightly into the highs. tomorrow i will begin accumulating. i like what i see from the whole commodity complex. its time is coming very soon. gold had a period, which it is very close to still being in @or near cost of production. which creates a very favorable fundamental. we are still working on the inverse h&s pattern. meanwhile the bank econs are calling for new lows in gold. sticking w/my strategy and trying to have the patience of the chinese. dharma

#9 jacksterr

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Posted 26 June 2014 - 12:47 PM

John Bollinger on gold.



https://screen.yahoo...-225038336.html

#10 dharma

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Posted 27 June 2014 - 10:17 AM

if basara falls, that is where the major oil find lies, that could unleash oil prices. so dont lose sight of iraq
now argentina says, it cannot pay its debt. what a surprise. the consequences of which are still to be felt. they have not officially defaulted .......................yet
gold appears to be consolidation. not giving much ground. oscillators are still very high. i would like to see them come down a bit to make way for the next leg higher.
too early for anything to come out of india, as their budget has yet to be submitted
this from credit suisse http://uk.reuters.co...N0P71ZN20140626
who wants fiat?!
then this out of india http://www.mineweb.c.../...7&sn=Detail
dharma