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#1 selecto

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Posted 23 December 2006 - 01:16 PM

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#2 Rogerdodger

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Posted 23 December 2006 - 01:31 PM

Mike doesn't this look bad for gold?
Do you have the same chart for gold?
TIA

Mike's "front yard"
(Man you have a lot of people there for Christmas!)
And they're dancing! Looks like the "St.Croix cotton-eyed Joe"!

Edited by Rogerdodger, 23 December 2006 - 01:36 PM.


#3 selecto

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Posted 23 December 2006 - 02:24 PM

Roger, Gold charts are not particularly clear to me in here. I have had gold for down, and I believe it will still trade lower. I'd like to see what happens with the decsending triangle on the weekly, but my "gut" tells me that a significant downtrend in gold is not in the cards. Its lovely in downtown paradise today, but try and find a parkbng place.

#4 selecto

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Posted 23 December 2006 - 03:00 PM

Copper and gold have been fellow travellers lately, and it looks to me like copper is oh-so-over.
"If copper ain't happy, ain't nobody happy."

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#5 jawndissedi

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Posted 23 December 2006 - 04:08 PM

Copper and gold have been fellow travellers lately, and it looks to me like copper is oh-so-over.
"If copper ain't happy, ain't nobody happy."

Posted Image

Very handsome chart. Even though other base metals are still soaring (anybody looked at zinc?), it's never smart to disrespect Dr. Copper. The debt-induced Phelps/Freeport merger was another signal; there's something about an extra-stupid transaction like that one that seems to precipitate reversals -- at tops and bottoms.
Da nile is more than a river in Egypt.

#6 selecto

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Posted 23 December 2006 - 06:31 PM

Roger, case you are still interested, I was messing with the weekly HUI with which gold travels lockstep. The HUI weekly is clearer and seems hi-prob for trading lower. I also see that Tim Ord's latest is unenthusiastically bearish on gold.

#7 Rogerdodger

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Posted 23 December 2006 - 08:07 PM

Thanks Mike.
As I posted in the gold area GLD and BGO are at or near very important support...again.
NEM has already broken down thru it.
Makes me nervous so I'm out until I see some down trendlines broken.
Rick's pattern recognition has been short XAU but is going flat.
Senor is...well you know. :D

#8 vitaminm

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Posted 24 December 2006 - 10:31 AM

XAU

http://www.americanb...p...r=VSE&TYP=S


GLD

http://www.americanb...p...=NYSE&Typ=S
vitaminm

#9 Rogerdodger

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Posted 24 December 2006 - 11:31 AM

vitaminm:

Today a White Spinning Top was formed. This represents complete indecision between the bulls and the bears.


Yep. :lol: