3 replies to this topic

[Shazzam]

I was listening to Tim Ord on Ike's show last night and he mentioned that the # of people bullish on gold was really low. I don't see too many people posting here, and I noticed a few of the names I mentioned the other day making new highs. Looks like the speculative move in some of the small names has begun . Gold Miner, if you read this could you please update your buy signal.

[The_Gold_Miner]

Here ya go... the XAU is directionless right now.. I am in cash and would prefer a steeper correction before a new buy signal occurs. Wave 5 can be considered complete on the daily chart which should increase caution levels on new long positions. Mixed signals = HIGH RISK.

[rono]

Well, I certainly can't debate the charts, but from a fundamentalist approach, I think we'll see the next leg up begin this coming week in both gold and the other metals. Most everything held pretty strong after reaching new highs for all the metals. Then they were starting to look like strong resistance while the dollar appeared to have found some decent support. Er, then the jobs report came out friday like the bloody calvary riding to the rescue with trumpets blaring. Chilled the cockles of my heart, it did. Geez, 1000 jobs created. And the lowering of the unemployment rate is a nasty trick with this stat - as folks stop being eligible for unemployment insurance, they no longer have to go and check in. How many stop checking in? If they don't, they become 'employed'. Regardless, these jobs numbers were so utterly prutrid, it erased all doubts everywhere immediately, that the fed is going to be doing anything with rates for MONTHS, if not longer. The impact on the dollar was immediate and will continue. Geez, we could hit 430-435 next week in gold and 6.75 in silver. best, rono

[Rock]

Silver's been open 3 hr. and up .15 to 6.60. It could hit 6.75 by Tues. Opened position on SBUM @.48 Fri. Expect it to eventually move like it's neighbor in the CDE valley, SRLM , from .20 to 11.00 +. 5500%. That sounds absurd but a bunch of folks just did it last year and I was shocked and awed by the 700%ish moves with IVAN, ca:NDM, ca:CZN etc. I'm starting to understand this recurring nightmare where the market gets me drunk, rapes me, slits my throat and tosses my body in the levy. These gains and the prospect of much, much higher multiples is disturbingly intoxicating.