68 replies to this topic

[johngeorge]

yes, i think we will see new highs. it just struck me playing w/the charts that this is a viable possibility.
dougie, we need to make new highs , above the 1007. its going to give the bears fuel, because it will look like a double top.
dharma

dharma

Man, I love your enthusiam as it helps keep me in the game. Thank you But I need to disagree with you on gold's direction. This GLD weekly chart, IMO, shows we already had our double top. My take is we start back down to support ~ 818, the fib weekly retrace for the 3 years. Of course, that's what makes a market.

Best to you

[goldswinger]

In that regard I am in agreement with you. It is hard to believe that we are in a C wave down and it does not feel it like that at all with all that jerky movement. The ABC move the last 10 days has been totally corrective and the last move up is typical C wave action. Unlees of course we are about to trace a triple top? unlikely, given what's coming for the SPX. Goldswinger.

Edited by goldswinger, 21 March 2009 - 10:37 AM.

[senorBS]

In that regard I am in agreement with you. It is hard to believe that we are in a C wave down and it does not feel it like that at all with all that jerky movement. The ABC move the last 10 days has been totally corrective and the last move up is typical C wave action.

Unlees of course we are about to trace a triple top? unlikely, given what's coming for the SPX.


Goldswinger.

It's muy interesting to Senor, I understand that more correction is muy possible. BUT the beginning of grande Tres of Tres norte is just as plausible, and with the Hulbert sentiment data coming out almost exactly when wave Dos may have bottomed Senor is somewhar surprised that so little respect is given to the muy bullish possibility.

When even staunch bulls are looking for more correction, even after the Hulbert timer bearishness, is there a better time for Tres of Tres to begin?

BS for thought

Senor

[goldswinger]

Senor, I agonized to come to this conclusion but when I look at the charts I see a need for a clear ABC down before a TRES WAVE grande starts if that 's next , so for me, we still need a down wave before a tres grande will start, assuming we've done a one already.... That is to say, assuming we did a wave 1 from October to February, A down from February 21 to March 7 , a B up from March 7 to Today ( itself an ABC) , then a C down to come very soon perhaps as early as Monday before a TRES grande starts. Timewise if a 1 wave took 3 1/2 months , you'd expect a correction of about 1.5 months at least. My alternate which is more bearish is that we need a wave C down of major degree as in A from March to October, B from October to February and C starting about Feb 21.... to probably end of April.....or May... or June...... While the money printinhg and bailouts by the FED is huge and ultimately inflationary, the fact is a lot of money has vaporized into money heaven and that amount is still more than the Trillions of bailouts so far. Plus people are hoarding cash and money velocity has slowed to a crawl..... so inflation remains under check. Goldswinger.

[dharma]

In that regard I am in agreement with you. It is hard to believe that we are in a C wave down and it does not feel it like that at all with all that jerky movement. The ABC move the last 10 days has been totally corrective and the last move up is typical C wave action.

Unlees of course we are about to trace a triple top? unlikely, given what's coming for the SPX.


Goldswinger.

It's muy interesting to Senor, I understand that more correction is muy possible. BUT the beginning of grande Tres of Tres norte is just as plausible, and with the Hulbert sentiment data coming out almost exactly when wave Dos may have bottomed Senor is somewhar surprised that so little respect is given to the muy bullish possibility.

When even staunch bulls are looking for more correction, even after the Hulbert timer bearishness, is there a better time for Tres of Tres to begin?

BS for thought
1st and foremost i am bullish on the gold market. i threw out the possibility that we are in wave 5 off the lows as an alternate. i am in no way bearish. corrections are part of the process. you bears are pissing into the wind. dharma
Senor

[bullshort]

Senor, How do you reconcile sentiment according to Hulbert versus sentiment as measured by the premium to NAV on the Central Fund of Canada (CEF) shares, or do you not look at that? That premium is troubling and is just now coming off a high of over 20%. Usually when it gets that high, a decline is in order. Granted, that's a measure of bullion sentiment, but would you or anyone else care to comment? Bullshort

[dharma]

is that a cup and handle forming on xau/hui/gold?! they have been a beneficial pattern! dharma

[uncleharley]

is that a cup and handle forming on xau/hui/gold?! they have been a beneficial pattern! dharma

This is the cup with handle that I like although the handle might have broke today. http://stockcharts.c...amp;a=104541167

uh

[swanstkdh]

Anybody home. Please tell me what YOU see on the weeklies. Juniors look like they are ready to rally hard and catch up. This will be a traders only catch up rally because there is nothing else to buy.

[dharma]

looks like, to these eyes, that the gold market needs new highs to complete this move. just my 2c dharma