24 replies to this topic

[senorBS]

how do you know the correction is not over dharma

It's not, but of course no once knows for sure. Central gold trust closed with a "paltry" 33% premium to NAV today, hmmm Senor wonders what that might mean?

BSing away

Senor

Edited by senorBS, 05 March 2009 - 05:55 PM.

[dharma]

how do you know the correction is not over dharma

its a possibility, but not one w/a high probability. dharma

[darnelds]

dharma, Do you have a target time and price for C wave bottom? Thanks for sharing your work. darnelds

[dharma]

as always there are many possibilities in the gold market. i am counting this wave up to 1k as 1 of 3 and we are now in c of 2 of 3. obviously i dont know how long this corrective wave lasts and and 8.6yr cycle low is due to bottom in april. also, i have noticed that jupiter going retrograde has a negative affect on gold(which occurs starting in june for 4mos). and seasonally the summer is a weak period too. so it would not surprise me, in the course of this corrective process if gold went to 750 sometime between now and the summer. in other words this correction could last 6 months.
also the imf is out of cash and they can sell their gold horde to raise $$ and waste away the rest of their funds.
rogers)
i continue to think this bull market has alot more upside. and it will be years in expressing that.
dharma

[swanstkdh]

So are you saying that there is a long term ccycle low due this april> As in we are hitting the bottom of either a comlete down wave 2 or 4 or we are starting a whole brand new bull after all 5 waves. What really happens after a wave high 5? Can a new bull repeat after a short down of a few years or do we have to have to go into the upside down waves of the bear cycle like we are in the regular market???

[dharma]

the gold market is up 400% in 8yrs, that is pretty good. it is an ebb and flow.
looking for 100 xau. and for 850 to hold on gold. i think the next 6months will be a trading affair, but the 4th quarter will produce a run to new highs.
somewhere in here i think the imf sells its remaining gold. it is out of cash for its pointless useless projects. the gold will never hit the spot market, but it will weigh on spot prices. rogers)
dharma

[darnelds]

GDX in free fall today. Down 6%.

[stubaby]

GDX in free fall today. Down 6%.

darnelds:

It's in the midst of Wave C down towards 100+- on XAU - should bottom later this week or early next week - I have my "limit but orders" in place. Note: C Waves always the most exiting (look at C up on SPX today)


stubaby

[dharma]

my earliest targets for the bottom of this Cwave are next week. i want to @least see hourly divergences before i reenter fully long. i am not so sure that new highs will be seen before the 4th quarter. i think it will be more sound and fury w/little price appreciation. we shall see. dharma

[dharma]

gold/xau/hui on hourly and daily charts @downtrend lines from the recent highs. dharma