17 replies to this topic

[JGUITARSLIM]

Miners (GDX) looking tired to me here.
Currently on an bearish upthrust.
I continue to be in cash, not chasing this one.

[dougie]

no more than a few days from a top imo this could be the recogniton wave though and then all bets are off

[Squiggy]

no more than a few days from a top imo
this could be the recogniton wave though and then all bets are off

Check this out...



From 'GDX Comments' site... http://stockcharts.h....com/index.html

[JGUITARSLIM]

The above scenario is very plausible, looking for a nice sharp quick correction to proclaim...Gold bull has topped. Then off to the races.

[Squiggy]

The above scenario is very plausible, looking for a nice sharp quick correction to proclaim...Gold bull has topped.
Then off to the races.

There was also a small dollar rally in 2007. Been watching the dollar base at $75 now for over a month. Guess what price the dollar rally of 2007 launched from? That's right... $75.

[JGUITARSLIM]

The above scenario is very plausible, looking for a nice sharp quick correction to proclaim...Gold bull has topped.
Then off to the races.

There was also a small dollar rally in 2007. Been watching the dollar base at $75 now for over a month. Guess what price the dollar rally of 2007 launched from? That's right... $75.

Yep...monitoring closely. At this point, I'm thinking a Dollar rally shall affect stocks overall more than the metal.

[Squiggy]

The above scenario is very plausible, looking for a nice sharp quick correction to proclaim...Gold bull has topped.
Then off to the races.

There was also a small dollar rally in 2007. Been watching the dollar base at $75 now for over a month. Guess what price the dollar rally of 2007 launched from? That's right... $75.

Yep...monitoring closely. At this point, I'm thinking a Dollar rally shall affect stocks overall more than the metal.

Sounds reasonable. I'm concerned too many people think the dollar no longer has an effect on gold (not saying you said that) but there still seems to be a very real relationship. Either way (and especially if both the market and gold are affected) GDX will be slapped hard as it is highly sensitive to the stock market.

[senorBS]

This could get ugly and do so muy rapido, Senor's NOSE is twitching furiously right now, bought a little DZZ at the opening this morning, stop above yesterday's gold high. BSing away Senor

[dharma]

welcome and nice work squiggy as of sunday, there were 238,516 contracts of Open Interest that are still sitting in the Dec Contract.those contracts are over half of the overall Open Interest and represent claims on nearly 24 Million Ozs of Gold, or approx. 676 Tonnes. And that 676 Tonnes is over 3X as much Gold that is currently in the COMEX warehouse. Nobody in the main stream is talking about this. But I can tell you that it doesn't go unnoticed by the "deep pockets" who are, unlike before, now in this market accumulating Gold. They're very aware that “First Notice Day” for the Dec contract is this Friday. And that it’s possible (not necessarily highly likely) that a squeeze COULD begin to develop later this week. Again, this is something they're keeping an eye on and will depend on if enough of those contract holders indicate on Friday that they wish to take delivery. who has the popcorn, this could get very interesting!! be careful! this could cause another launch dharma

[Squiggy]

welcome and nice work squiggy
as of sunday, there were 238,516 contracts of Open Interest that are still sitting in the Dec Contract.those contracts are over half of the overall Open Interest and represent claims on nearly 24 Million Ozs of Gold, or approx. 676 Tonnes. And that 676 Tonnes is over 3X as much Gold that is currently in the COMEX warehouse.

Nobody in the main stream is talking about this. But I can tell you that it doesn't go unnoticed by the "deep pockets" who are, unlike before, now in this market accumulating Gold.

They're very aware that “First Notice Day” for the Dec contract is this Friday. And that it’s possible (not necessarily highly likely) that a squeeze COULD begin to develop later this week.

Again, this is something they're keeping an eye on and will depend on if enough of those contract holders indicate on Friday that they wish to take delivery.
who has the popcorn, this could get very interesting!! be careful! this could cause another launch
dharma

Welcome me to the board and then tell me I'm dead wrong. ROFL. I like your style! That's cool. I don't mind if people disagree. That's how we learn. Personally, I wouldn't put much faith in the COMEX delivery stuff. I lived through the Jim Sinclair COMEX hype of 2008 and it was a total dud. It may happen one day but I am more of a chartist I guess and those things tend to fall under the category of wishful thinking in my book. Don't get me wrong. I am a gold bull. I am not looking for a 'correction', just a stiff bout of profit taking.