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3 waves to the upside. now the lows


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#11 dharma

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Posted 30 May 2008 - 12:28 AM

yes, senor it could work out that way. corrections are confusing. its their nature, its a way to buck all but the strong holders off. looking @the picture 887 is resistance and the 850 80 high is strong support. the daily oscillators are not near over sold the hourlies are Dover Sole. so , i am stepping back and letting the market talk to me. i have raised 10% cash in one account and on the other i am lightly on margin. i am not sure what i will be doing . but for sure i will be holding @least 90% long. as of right now , more. i like to have some cash to buy the lows. it puts me in a good psychology. the powers that be are going to sell us on the fact that there is less inflation/no inflation. the planting of the crops just occurred from here on in the speculation starts as to what size the crop will be, so from the grains side it will play both ways. i am thinking the summer could be weak, but it wont last long.oil may correct more also. its not a time for aggression , but one to let the market talk. i am on a sell on my daily system and it will have to do some work to generate a buy. bradley is the 6th. no margaritas for me , but they sure sound good. no doubt senor has a good margarita mix. i live in the land of the margarita dharma

#12 dharma

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Posted 02 June 2008 - 08:46 AM

pattern confirming post #11 above. this summer is going to be a time to sit on my hands, not do anything new. dharma

#13 dougie

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Posted 02 June 2008 - 12:07 PM

dharma: the bradley 6th date could be a local high for metals as teh next turn is this fall

#14 dharma

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Posted 02 June 2008 - 01:32 PM

unless another dominant cycle is operating. i still the metals to be up till months end. if that is not the case. then it will be back to the drawing board for me. dharma

#15 senorBS

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Posted 02 June 2008 - 05:49 PM

unless another dominant cycle is operating. i still the metals to be up till months end. if that is not the case. then it will be back to the drawing board for me. dharma


Muy hard market, Senor just hangin loose. I think it eventually goes lower but not sure when or from where. This seems like a whipsaw market that will try muy hard to take your pesos, Senor has been there and done that - no gracias anymore.

BS all the way

Senor

#16 dharma

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Posted 03 June 2008 - 08:53 AM

unless another dominant cycle is operating. i still the metals to be up till months end. if that is not the case. then it will be back to the drawing board for me. dharma


Muy hard market, Senor just hangin loose. I think it eventually goes lower but not sure when or from where. This seems like a whipsaw market that will try muy hard to take your pesos, Senor has been there and done that - no gracias anymore.

BS all the way

Senor

yes, the correction is still in force, 850 is support if that goes 780-800 is the next support zone. there is more pressure to come. by not hitting its upside targets, the gold market indicates weakness.740-780 is a possibility too. the correction is not complete. it is a time to sip those margaritas and watch. its what i am doing. there are some strong headwinds. here is some food for thought: peak gold:http://whiskeyandgunpowder.com/Archives/2008/20080602.html
dharma

#17 senorBS

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Posted 03 June 2008 - 09:26 AM

unless another dominant cycle is operating. i still the metals to be up till months end. if that is not the case. then it will be back to the drawing board for me. dharma


Muy hard market, Senor just hangin loose. I think it eventually goes lower but not sure when or from where. This seems like a whipsaw market that will try muy hard to take your pesos, Senor has been there and done that - no gracias anymore.

BS all the way

Senor

yes, the correction is still in force, 850 is support if that goes 780-800 is the next support zone. there is more pressure to come. by not hitting its upside targets, the gold market indicates weakness.740-780 is a possibility too. the correction is not complete. it is a time to sip those margaritas and watch. its what i am doing. there are some strong headwinds. here is some food for thought: peak gold:http://whiskeyandgunpowder.com/Archives/2008/20080602.html
dharma


Senor is in total agreement with you here amigo. There will be a grande buying opportunity in the next 4-8 weeks Senor thinks, grande fortune comes to those who can remain calm, cool, collective and then pounce when the time is right. Senor Marg's help him comply with that plan. :P :D B)

PURE Margarita BS (wih salt)

Senor

#18 dharma

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Posted 03 June 2008 - 09:41 AM

unless another dominant cycle is operating. i still the metals to be up till months end. if that is not the case. then it will be back to the drawing board for me. dharma


Muy hard market, Senor just hangin loose. I think it eventually goes lower but not sure when or from where. This seems like a whipsaw market that will try muy hard to take your pesos, Senor has been there and done that - no gracias anymore.

BS all the way

Senor

yes, the correction is still in force, 850 is support if that goes 780-800 is the next support zone. there is more pressure to come. by not hitting its upside targets, the gold market indicates weakness.740-780 is a possibility too. the correction is not complete. it is a time to sip those margaritas and watch. its what i am doing. there are some strong headwinds. here is some food for thought: peak gold:http://whiskeyandgunpowder.com/Archives/2008/20080602.html
dharma


Senor is in total agreement with you here amigo. There will be a grande buying opportunity in the next 4-8 weeks Senor thinks, grande fortune comes to those who can remain calm, cool, collective and then pounce when the time is right. Senor Marg's help him comply with that plan. :P :D B)

PURE Margarita BS (wih salt)

Senor

yes, we are in agreement! i am watching the miners, which are performing well, inspite of golds weakness. this is a very good sign. the stocks gaining strength , will lead the next leg. dharma

#19 senorBS

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Posted 03 June 2008 - 10:15 AM

unless another dominant cycle is operating. i still the metals to be up till months end. if that is not the case. then it will be back to the drawing board for me. dharma


Muy hard market, Senor just hangin loose. I think it eventually goes lower but not sure when or from where. This seems like a whipsaw market that will try muy hard to take your pesos, Senor has been there and done that - no gracias anymore.

BS all the way

Senor

yes, the correction is still in force, 850 is support if that goes 780-800 is the next support zone. there is more pressure to come. by not hitting its upside targets, the gold market indicates weakness.740-780 is a possibility too. the correction is not complete. it is a time to sip those margaritas and watch. its what i am doing. there are some strong headwinds. here is some food for thought: peak gold:http://whiskeyandgunpowder.com/Archives/2008/20080602.html
dharma


Agree, but those stocks will still take quite a hit IMO, I expect the juniors to hold up the best if the expected decline occurs.

BS all the time

Senor

Senor is in total agreement with you here amigo. There will be a grande buying opportunity in the next 4-8 weeks Senor thinks, grande fortune comes to those who can remain calm, cool, collective and then pounce when the time is right. Senor Marg's help him comply with that plan. :P :D B)

PURE Margarita BS (wih salt)

Senor

yes, we are in agreement! i am watching the miners, which are performing well, inspite of golds weakness. this is a very good sign. the stocks gaining strength , will lead the next leg. dharma



#20 tradesurfer

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Posted 03 June 2008 - 12:54 PM

senior junior here is loving the bearish sentiment here!

doesnt anyone here still have faith in a head and shoulders bottom formation?

Gold will be back at the 930.00 neckline of this formation before the end of JUNE.

Gold will not go below 850 1980's all time high support.

Dharma turned bearish and everyone is capitulating down here!

this downleg in gold is LOSING STEAM volume wise. remember, VOLUME is the force that moves markets... and on GLD volume is weakening on each successive low V formation.

on this so called Bernanke news, they should have taken gold down minimum $50 !! but all they can manage is a lousy 7 bucks???

Bernanke is a JOKE! He screwed this entire market and economy up, and now all of a sudden we are to believe him that he will rally the dollar and crash gold??? NOT. I dont buy it. The BKX is cooked big time and is soon going to break 10 year support.

but the broadmarket indices including the $BKX are gaining STEAM to the downside BIG TIME. This mini panic that is developing there will SUPPORT A GOLD PRICE RALLY that moves the gold price back up to 930 neckline !!!

If I am right I officially want to be crowned Senor Junior!!