64 replies to this topic

[dharma]

yesterdays action broke the rising trendline from the lows.  which is an indication of a break in the trend. i did some selling. i sold explorers which will have to come to market for funds, diluting their shares. i dont know how long the correction will last, so i didnt want that exposure.  i roam in this area, its where the outsized  rewards are seen. 

now, i am wearing my buy hat, but obviously not yet.  we are oversold on the hourlies, if divergences from oversold on the hourlies develop , i will trade

he brings up some good gann concepts here http://www.ganngloba...b92856e0fba54bb

 i dont know where the notion that rising rates are bearish for gold came from, but in 79 volcker hiked and hiked rates and gold went higher and higher. the idea is that rising rates are an indication of rising inflation.  the fed is already behind the curve. http://www.cnbc.com/...hike-rates.html

bac wants them to hike!

not so sure china is going to have the hard landing folks are looking for

india is waiting for the monsoons to hit.  late summer/early fall is when their buying season begins. 

dharma

[crossd]

..i think it's not the rates as you point out  so much as the fear of the $ rising and rising more..

 

donc

[dharma]

..i think it's not the rates as you point out  so much as the fear of the $ rising and rising more..

 

donc

if the result is the dollar strengthening,  then it will affect multinationals . they compete in world markets. w/a strengthening dollar , it will make their products less desirable, so a strengthening dollar has its consequences. so the dollar bulls missed out on this 1st leg rally in gold . druckenmiller is not the only guy who regards gold as currency.

dharma

[dharma]

i am a buyer, i am waiting for either new lows w/oscillator divergences, or gold to make new lows not followed by the gdx. 

the gld set a new record yesterday w/860 tons.  this is as i interpret it a bullish sign!

i am a light buyer!, should the conditions above be met.  i am almost fully invested. higher #s beckon into june . when mars was in scorpio gold soared . it will retro back into scorpio may 27th ,

dharma

Edited by dharma, 20 May 2016 - 09:40 AM.

[dharma]

should i continue posting these

gann guy 

http://www.ganngloba...1d83e47cfe6744e

dharma

[Joey]

Yes, I find them interesting.

[dharma]

cots

http://news.goldseek.../1463772660.php

commercials , by tuesday, had expanded their short positions. i look for early next week to exhibit more weakness

 if there are intermarket and oscillator divergences , then another run will develop, if not i take some more off the table

dharma

[dharma]

1229breaks into the next higher price cycle. 

so far this level has held into the correction.  i look for this correction to last until the end of this week at the latest

i look for 1200 to hold and probably not be tested.. there are 3 stocks on my buy list.  they have not been backing off

ok so this is a high level consolidation. lets see what this week brings.  

dharma

[dharma]

he brings up quite a few good points

http://www.ganngloba...eb018feb0030732

dharma

[tria]

"1,229 breaks into the next higher price cycle."

 

next higher or lower price cycle, Dharma ?