19 replies to this topic

[senorBS]

senor: are you not out?

si amigo, except for a few juniors I will not sell I am el flato.

Senor

[dharma]

i am thinking that the lows for this correction are in. take a look @ the feb 09 highs for gold and the correction that followed those highs then foward to the 12/09 highs and this correction sure looks like it is complete. and a replica of the 09 correction we shall see dharma

Edited by dharma, 17 February 2010 - 03:27 PM.

[dougie]

i am looking for a low voume retest of those lows with divergences we shall see

[dharma]

this was announced when the market was closed
IMF to sell 191.3 tonnes of gold on market 'shortly'

Wed Feb 17, 6:15 pm ET

WASHINGTON (AFP) – The International Monetary Fund said Wednesday it was ready to sell 191.3 tonnes of gold on the market in a bid to reduce its dependence on lending revenue.

At Wednesday's market price of about 1,120 dollars an ounce, the gold to be sold would be worth nearly 6.9 billion dollars.

The fund "will shortly initiate the on-market phase of its gold sales program" of a total 403.3 tonnes approved for sale last September, the Washington-based institution said in a statement.

The initial phase was set aside exclusively for off-market sales to public entities, such as central banks, among the IMF's 186 members.

A combined 212 tonnes was sold during that first phase -- more than half the approved total -- snapped up by the central banks of India, Mauritius and Sri Lanka.

http://news.yahoo.co.../imfgoldmarkets

this will cause the market to pull back for a couple of days. in the 80s bull the imf sales fueled the fire to higher prices, i expect this will be no different.
one or 2 juniors i didnt get my fill of. thanks imf. its illegal what you are doing, but so be it. i have been looking for a backtest of the breakout and i suspect that is what we will get
dharma

Edited by dharma, 17 February 2010 - 10:31 PM.

[senorBS]

FWIW I bought a little this morning and will now be in a buy the dips mode, probably for the rest of the month. PURE BS Senor

[dougie]

watcha buying senor if you dont mind?

[senorBS]

watcha buying senor if you dont mind?

GDXJ and RGLD today

BSing away

Senor

[dougie]

http://stockcharts.c...amp;a=191782218

yep one has to be a buyer of RGLD in here

[senorBS]

http://stockcharts.c...amp;a=191782218

yep one has to be a buyer of RGLD in here

si, I really like mucho the daily structure, close above 45.10 and norte grande.

BSing away

Senor

[dougie]

yep 45 goes we might see 49 andale andale