more confirming action to the upside. 980-1k minimum is in the cards. all the drivers are in place. looks like we are kicking off another leg here. market looks strong to me! bkx is signaling some kind of banking crises. these are trying times. dharma
we are going to 980-1k @least on this rocket ride!
Started by
dharma
, Jun 27 2008 10:03 AM
39 replies to this topic
#12
dharma
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Posted 01 July 2008 - 01:05 PM
added to some juniors this am. the last couple of days, interday xau/hui/gold have corrected bringing the rsi's down on the hourly charts. dharma
#13
dharma
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Posted 02 July 2008 - 09:27 AM
the board is dead, i will continue to post my thoughts until the echo of my aloneness here drives me into silence. looks like we could have completed a 3rd wave, so a correction is upon us. part of the game. i suspect that the july lows will be a 2. yesterday silver confirmed golds breakout , with a breakout of its own. i suspect the movements will be faster now, as the unmistakable signs are there for some kind of banking upheaval/disruption. the bkx remains below its 03 lows. although it does now have rsi divergences. i will now sit tight unless or until some bargains appear.
this piece by john embry, i found to be provacative:http://www.sprott.com/pdf/investorsdigest/digest.pdf
dharma
#14
johngeorge
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Posted 02 July 2008 - 10:33 AM
dharma
You can post alone without being alone.
Thanks for the link to John Embry article. I cant help but continue thinking the financial system is way worse off than most people have any idea of. The Fed is discredited with nowhere to turn except add fuel to the inflation fire as the economy continues to sink further and further into the morass. Already $4+ gasoline is having an effect on driving-demand destruction. Nearly everyone I know or communicate with has no clue about gold or what it is regards stability/value.
Will the European Central Bank raise rates tomorrow? I think they will and that will be another drag on the dollar. Furthermore IMO we are not out of the woods yet on food costs. When you have farmland selling for $8000 an acre you just have to know food will continue expensive.
Again, thanks for maintaining this thread. Many read your comments and appreciate the time and effort you put into keeping the board interesting and INFORMED.
Best to you.
You can post alone without being alone.
Thanks for the link to John Embry article. I cant help but continue thinking the financial system is way worse off than most people have any idea of. The Fed is discredited with nowhere to turn except add fuel to the inflation fire as the economy continues to sink further and further into the morass. Already $4+ gasoline is having an effect on driving-demand destruction. Nearly everyone I know or communicate with has no clue about gold or what it is regards stability/value. Will the European Central Bank raise rates tomorrow? I think they will and that will be another drag on the dollar. Furthermore IMO we are not out of the woods yet on food costs. When you have farmland selling for $8000 an acre you just have to know food will continue expensive.
Again, thanks for maintaining this thread. Many read your comments and appreciate the time and effort you put into keeping the board interesting and INFORMED.
Best to you.
Peace
johngeorge
johngeorge
#15
dougie
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Posted 02 July 2008 - 12:44 PM
dhrma: i cant follow your count : we completed a third wave and this correction into July lows will be a 2? thanks for the commentary!
#16
dharma
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Posted 02 July 2008 - 02:41 PM
think we are finishing wave 4 here. oversold on hourlies. into the lows of 4 of 3 this should be about all she wrote. dharma
dougie- meaning wave 2, after this upwave will occur in july.
#17
uncleharley
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Posted 02 July 2008 - 03:31 PM
There are still a few lurkers around. Some, like me, don't have a lot to write about, however,I thought you might want to know that the USD as measured against a basket of currencies, confirmed the gold and silver breakout by closing below trendline support today. The chart is telling me the USD has begun another leg down. Since precious metals usually do the inverse of the buck, Your prediction of $1k gold seems reasonable.
uh
#18
cgnx
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Posted 02 July 2008 - 04:34 PM
Whats to say? I do like any and all reading material I can find too, especially on my favorite subject. But, there isnt much to type about yet.
If it can be cornered, it will.
#19
dougie
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Posted 02 July 2008 - 04:57 PM
Thanks Dharma: so you dont buy this as being c of B with C down to come to new lows for the year? could target HUI 330 if that count is in effect and A = C
#20
senorBS
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Posted 02 July 2008 - 05:16 PM
the board is dead, i will continue to post my thoughts until the echo of my aloneness here drives me into silence. looks like we could have completed a 3rd wave, so a correction is upon us. part of the game. i suspect that the july lows will be a 2. yesterday silver confirmed golds breakout , with a breakout of its own. i suspect the movements will be faster now, as the unmistakable signs are there for some kind of banking upheaval/disruption. the bkx remains below its 03 lows. although it does now have rsi divergences. i will now sit tight unless or until some bargains appear.
this piece by john embry, i found to be provacative:http://www.sprott.com/pdf/investorsdigest/digest.pdf
dharma
Hey amigo I have felt the same way several times over the last few years - wondering if anyone was listening? Senor loves the recent trading and a grande move norte is likely in the months ahead. Just going to hold my agressive long and let it ride.
BS is beautiful
Senor
