64 replies to this topic

[crossd]

Mon 1 pm EDT..$GOLD sitting on the flat 50 d ma at 1251..200 d ma at 1160

some intermediate indicators dead in the middle..looks 50-50 to me..

 

donc

[tria]

Mon 1 pm EDT..$GOLD sitting on the flat 50 d ma at 1251..200 d ma at 1160

some intermediate indicators dead in the middle..looks 50-50 to me..

 

donc

 

Donc, should look 95-5 by early Wednesday and I have posted today where I have put my money on.

If one wants a sure bet he should wait for that day but I didn't want to.

Edited by tria, 23 May 2016 - 12:35 PM.

[dharma]

tria, i was trying to point out that 1229 starts the next higher price cycle=opens the gateway to higher prices

i did some light buying this pm, will buy more tomorrow if the opportunity presents itself

http://www.321gold.c...llan052116.html

tomorrow and wednesday  weakness should continue

dharma

[tria]

Dharma OK then I take it that you mean 1229 has started and not "starts" the next higher price cycle

since Gold is above 1229

[dharma]

tomorrow is options expiration. 

gld is now holding872 tons of gold , a new multiyear record.  Commerzbank reports that ETF holdings rose 19 of the past 20 days, and are up almost 90 tons just since the start of May. these are institutional buyers that are stepping in, they are making the decline orderly. india is absent from the market , they are awaiting the monsoon. 

i posted a piece last week, buyers have been waiting for the 1200-1225 range to buy. 

 the question is when do investors realize that cbs have become atm machines for timid politicians, when they wake up and realize this, bonds will be dumped

i am a light buyer at some point today. i tend to think the lows will be put in today or tomorrow. next week i see strength

dharma

[johngeorge]

dharma

 

"next week i see strength" 

 

It just so happens that June 1 is a major Bradley turn date. 

[dharma]

i am looking for a low now. it could produce another leg up or just a bounce.  we will see

so far this correction has moved further than any of the other corrections in gold  since the dec lows

 which is a concern.  

dharma

[dougie]

No one suggesting that we take a real spill here nor talk of loading up in dust has me worried

[dharma]

on the gdx there are hourly divergences from oversold

if this is in fact a bull market, which i think it is , then there will be buyers under the market to lend support.  

i dont know if we bounce or see another leg. the up move will tell us alot. have to stay nimble in here if you are trading. 

i have done some buying , no margin.  

dharma

[tria]

on the gdx there are hourly divergences from oversold

if this is in fact a bull market, which i think it is , then there will be buyers under the market to lend support.  

i dont know if we bounce or see another leg. the up move will tell us alot. have to stay nimble in here if you are trading. 

i have done some buying , no margin.  

dharma

 

I am almost fully loaded with futures but only looking for a strong bounce Dharma and FWIW.