 are we approaching recognition?! |
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 Apr 4 2012, 02:33 PM
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#51
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 Member Group: Traders-Talk User Posts: 15327 Joined: 30-October 03 From: Planet Earth Member No.: 463  |
XAU is in another trading band here...
There is lotta room to fall from here unless the XAU can climb and maintain 171.71. More downside than you think. 
-------------------- Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position" Volume is the only vote that matters... the ultimate sentiment poll. http://twitter.com/tradingcoach1 |
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Apr 4 2012, 03:04 PM
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#52
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 Member Group: Traders-Talk User Posts: 3293 Joined: 12-October 03 Member No.: 345 |
Stu:
not sure what you are seeing to suggest that. This looks more and more like 08. technically at least dougie: This is the "puke-fest" that ends long correctives - "be happy", however it will take time here to "hammer out a bottom": stubaby [/quote] |
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Apr 4 2012, 03:05 PM
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#53
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Member Group: Traders-Talk User Posts: 3293 Joined: 12-October 03 Member No.: 345 |
Semi: how much downside you think?
HUI to the 61% retrace at 335? QUOTE (SemiBizz @ Apr 4 2012, 02:33 PM)  XAU is in another trading band here... There is lotta room to fall from here unless the XAU can climb and maintain 171.71. More downside than you think. |
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Apr 4 2012, 03:17 PM
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#54
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Member Group: Traders-Talk User Posts: 4205 Joined: 22-April 04 Member No.: 1778 |
yes, it does look like 08, the rsi readings are similar to the bottom in 08. in all the mining indexes.
there was capitulation today. we will see how much more there is. dharma [quote name='dougie' date='Apr 4 2012, 05:04 PM' post='618221'] Stu: not sure what you are seeing to suggest that. This looks more and more like 08. technically at least dougie: |
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Apr 4 2012, 03:32 PM
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#55
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Member Group: Traders-Talk User Posts: 1706 Joined: 1-February 11 Member No.: 10205 |
gold stock bull is over for another year. we may see a bounce but all bounces are to be SHORTED. Something fundamental has changed and there is a change of character.
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Apr 4 2012, 04:59 PM
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#56
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Member Group: Traders-Talk User Posts: 15327 Joined: 30-October 03 From: Planet Earth Member No.: 463 |
Might be more like approaching IGNITION...
Looks to me from this chart if the XAU doesn't turn back up, there's going to be plenty of pain to go around in the broader indices... 
-------------------- Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position" Volume is the only vote that matters... the ultimate sentiment poll. http://twitter.com/tradingcoach1 |
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Apr 4 2012, 05:34 PM
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#57
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Member Group: Traders-Talk User Posts: 15327 Joined: 30-October 03 From: Planet Earth Member No.: 463 |
There is no reason at all to buy gold right now until the XAU turns back up... and then there will be a delay...
-------------------- Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position" Volume is the only vote that matters... the ultimate sentiment poll. http://twitter.com/tradingcoach1 |
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Apr 4 2012, 10:34 PM
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#58
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 Member  Group: TT Member* Posts: 20534 Joined: 13-January 04 From: T Town Member No.: 1054 |
Laundry is looking for $1400 for a low.
Jack Chan: Summary Long term - on major sell signal. Short term - on sell signals. A major sell signal is now confirmed, therefore, upon the next cycle bottom, only GLD and CEF remain tradable as long as their configs remain bullish. This post has been edited by Rogerdodger: Apr 4 2012, 10:37 PM -------------------- |
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Apr 5 2012, 07:32 AM
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#59
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Member Group: TT Member+ Posts: 3705 Joined: 12-May 04 From: Wisconsin Member No.: 1840 |
This End Of Day chart shows a Bull Trap yesterday and projects silver moving back down to 28.45.
This End Of Day chart still projects gold to 1458. If you are trading these markets be on your toes. As has been pointed out by others on the board the volatility will only increase and trading will be more and more difficult. As for myself I remain a bull on silver and gold, but, I have left trading to the pros. -------------------- Peace
johngeorge |
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Apr 5 2012, 08:26 AM
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#60
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 Member Group: Traders-Talk User Posts: 849 Joined: 27-September 05 Member No.: 4220 |
QUOTE (johngeorge @ Apr 5 2012, 08:32 AM) This End Of Day chart shows a Bull Trap yesterday and projects silver moving back down to 28.45. This End Of Day chart still projects gold to 1458. If you are trading these markets be on your toes. As has been pointed out by others on the board the volatility will only increase and trading will be more and more difficult. As for myself I remain a bull on silver and gold, but, I have left trading to the pros. Fwiw, yesterday on Dorsey's pnf the sell targets 1550. I also have a Rut sell too which imo goes hand in hand with the selling if liquidity is going to be drying up...target 796. I personally watch the nyse bullish percent. If we got a couple of hard down days, that could go on defensive which would be the first time this year. Still has a way to go but it's worth watching even for gold because it could put pressure on gold. TM This post has been edited by tradermama: Apr 5 2012, 08:30 AM |
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Lo-Fi Version | Time is now: 19th June 2013 - 08:52 PM |