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bottoming?


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#11 jabat

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Posted 09 September 2014 - 02:27 PM

I agree that bulls have been in dumps. This is the time to buy $1250 with stop under 1240.

#12 Russ

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Posted 09 September 2014 - 02:55 PM

Euro seems to be finding support and dollar is spiking, so at least some relief rally looks to be unfolding for the metals. Gold did not really go down in Euros or Yen. Important to watch what the international capital flows are up to.
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#13 dharma

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Posted 09 September 2014 - 03:05 PM

What does Gold do from here? Possibilities to ponder:

1. This is a very, very deep retracement of the rally from June to July (1240-1345) and is done - is anyone at all buying here?

2. we are still correcting a 5-wave rally from last Dec to March (1182 -1388) and need to at least take out 1240 before that is complete

3. We are going to major new decline lows below 1180

I have no strong inclination at this time

Senor

as i posted yesterday fridays hgnsi was quite heavily bearish
there are hourly divergences from oversold in gld , gdx , gdxj
it looks to me like we are bottoming.
i am buying faz, as i do think the broad market is @an extreme
the news out of japan=gdp collapses- 7.1%
germany has a trade surplus, but slip sliding away
and the rest of europe is in recession.
it looks to me like gold is bottoming or has bottomed
i have bought more juniors. confidence is not high. they are so close to testing the 1240 lows, last lows
1230ish is the .76 retracement and then the double bottom.
so , i am squeamish, but long.
dharma

Edited by dharma, 09 September 2014 - 03:08 PM.


#14 goldfungus

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Posted 09 September 2014 - 03:10 PM

What does Gold do from here? Possibilities to ponder:

1. This is a very, very deep retracement of the rally from June to July (1240-1345) and is done - is anyone at all buying here?

2. we are still correcting a 5-wave rally from last Dec to March (1182 -1388) and need to at least take out 1240 before that is complete

3. We are going to major new decline lows below 1180

I have no strong inclination at this time

Senor

as i posted yesterday fridays hgnsi was quite heavily bearish
there are hourly divergences from oversold in gld , gdx , gdxj
it looks to me like we are bottoming.
i am buying faz, as i do think the broad market is @an extreme
the news out of japan=gdp collapses- 7.1%
germany has a trade surplus, but slip sliding away
and the rest of europe is in recession.
it looks to me like gold is bottoming or has bottomed
i have bought more juniors. confidence is not high. they are so close to testing the 1240 lows, last lows
1230ish is the .76 retracement and then the double bottom.
so , i am squeamish, but long.
dharma


"Squeamish but long." Best chance of being right.

#15 dharma

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Posted 09 September 2014 - 03:21 PM

its not easy to buy when the market is breaking down , sentiment in the dumps

the interesting thing is in dollars gold took a hit , in yen/euros not much happened(senor pointed this out)
have we turned?
read a piece by the ceo of goldcorp . he thinks we are @or close to peak gold. world is running out of everything
dharma

#16 dharma

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Posted 10 September 2014 - 09:51 AM

tomorrow is sept 11, will it again have significance? i agree w/gannman it seems to me the broad market is topping and gold is bottoming. gold is falling in a wedge pattern. taking my time here. oscillators are way oversold . and diverging. and broad market is overbought and diverging in 80 when russia invaded afghanistan, carter slapped sanctions on them , preventing them from buying our grains, it had much the same effect that the current sanctions are having, ie russia went somewhere else to fulfill their needs but the effects on american farmers was devastating another ineffective tool dharma

#17 dharma

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Posted 10 September 2014 - 09:59 AM

tomorrow is sept 11, will it again have significance? i agree w/gannman it seems to me the broad market is topping and gold is bottoming. gold is falling in a wedge pattern. taking my time here. oscillators are way oversold . and diverging. and broad market is overbought and diverging in 80 when russia invaded afghanistan, carter slapped sanctions on them , preventing them from buying our grains, it had much the same effect that the current sanctions are having, ie russia went somewhere else to fulfill their needs but the effects on american farmers was devastating another ineffective tool dharma

#18 dougie

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Posted 10 September 2014 - 12:12 PM

the yen is serious headwinds here. What an absolute sister that has been. How ludicrous this idea that one can create a wealthy society through trashing ones currency. But in reality, the japanese planners know otherwise. As long as they can prop the Nikkei and get themselves out at a profit, what do they care?

#19 dharma

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Posted 10 September 2014 - 01:24 PM

that is the point! all fiats are in a race to zero! the hoard has not realized that yet so there is calm. look @ the vix yesterday. complacency rules, when the light switch goes on, gold will be in a run. now , its all the flim flam. its all being bought by the public. Butt, for how much longer????? meanwhile the police are being militarized. dharma

#20 dharma

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Posted 10 September 2014 - 03:04 PM

i posted hgnsi the other day, for fridays action. sentiment is so bearish. NOW hulbert, w/all the qualifiers has become bullish
http://www.marketwat...p;utm_source=tf
dharma

Edited by dharma, 10 September 2014 - 03:06 PM.