10 replies to this topic

[TAfool]

I keep pretty quiet around here preferring to just read the thoughts of others, however, I thought I'd throw out my views on this one.

Here are my thoughts on gold, Gold view and the plan.

Basically, for those that don't want to click the link, I am watching gold closely for a buy sign since it has now come down to the $385 level as previously indicated. Any type of consolidation pattern will likely be played with buy/stops. The only thing I'm doing now is waiting patiently for a reasonable long entry point. As can be seen from the link to the thread, I am dealing in longer time frames than what many here seem to trade.

Regards,
TAfool

[Rogerdodger]

Ike says look for $365 area. That's only $17 from tonight's price.
http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=$xau,uu[r,a]dhclyyay[dd][pb40!c10!h.04,.4!f][vc60][iub14!ll14!lah40,100,10!lh39,1][j15918326,y]&r=8528.png

[Rogerdodger]

http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=bgo,uu[r,a]dhclyyay[dd][pb40!c10!h.04,.4!f][vc60][iuh39,1!ll42!lb42!lah40,100,10][j20531719,y]&r=4361.png

[skott]

tafool, what would be a buy signal for you? I bought nem this morning @ 38.00 scott

[JGUITARSLIM]

Skott, I bought NEM too. What's your target?? Thanks in advance.

[stockbucks_coffee]

gold stocks got hit with a sharp 3 wave down (4/12, 4/20, & 4/28) so I would expect a strong corrective back up that'll retrace at least 1/3 of the waves. I'm not a EWer but that's my take. Whether it pans out, we'll see. SC.

[SilentOne]

Hi SC,

Now that I have been eviscerated, we should bounce. Once 3 waves down from the Dec. top is complete. Did XAU 81ish do it? We need more divergence on the indicators to say we can go up.

I'm watching the Euro and these wedges for days now. Interesting juncture. Ageka posted this at Capital Stool. Wedge within a wedge. We broke up from the first one this morning. Euro:USD right at 2 yr trendline too.



cheers,

john

[stockbucks_coffee]

SilentOne, at least you survived to trade another day... right now I'm nervous on whether will get some sort of a corrective wave rally. who knows??? maybe this 3 wave down was a setup to get the gold stocks to move up (corrective wave up) soon when this current stock market 'pullback' turns into a free fall down. SC.

[skott]

sorry, JG. I didn't see your post till now. I sold nem @ 37.95 yesterday when the market was looking weak. scott

[flyers&divers]

The adx - is at extremes. There is no chance of a meaningful upmove until an adx+ peak exceeds an adx- peak. This will take time.