79 replies to this topic

[inamosa]

Eric Sprott is one of my favorite fundamentals-based analysts. Earlier today, I linked to a recent 12-minute interview done on Canada's business news network.

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Just my opinion on gold short-term: gold is very hard to time but I think we're at short-term resistance here b/w about $1215 and $1220. If we break through, a test of the highs is in the cards, I believe. Given we had a weekly bearish engulfing candle last week and low volume coming on these three daily candles higher, perhaps it is more likely we continue last week's move lower after setting a mid-week high here in order to continue to consolidate below the highs...a continuation of last week's down move should eventually lead to a test of $1150 (a scenario I'd prefer before the highs are broken again, but which admittedly may not happen).

[stubaby]

Eric Sprott is one of my favorite fundamentals-based analysts. Earlier today, I linked to a recent 12-minute interview done on Canada's business news network.

--

Just my opinion on gold short-term: gold is very hard to time but I think we're at short-term resistance here b/w about $1215 and $1220. If we break through, a test of the highs is in the cards, I believe. Given we had a weekly bearish engulfing candle last week and low volume coming on these three daily candles higher, perhaps it is more likely we continue last week's move lower after setting a mid-week high here in order to continue to consolidate below the highs...a continuation of last week's down move should eventually lead to a test of $1150 (a scenario I'd prefer before the highs are broken again, but which admittedly may not happen).

Sharpe Trader

I am still of the opinion as stated in my Friday post: "My guess is there is more to the upside short-term here and the "true" handle will form over the summer in a more subdued manner (more like Wave 4 action - tedious and several months long)"

However, in examining the Daily Gold Chart - I can make the case for Wave C down towards 1,150 now, before the explosive move up.





stubaby

[dougie]

Nice charting Stubabay you would see a mid summer low on that chart? timing this is probably a rubes game at this point adding on weakness, selling into strenght hard to do

[dharma]

Eric Sprott is one of my favorite fundamentals-based analysts. Earlier today, I linked to a recent 12-minute interview done on Canada's business news network.

--

Just my opinion on gold short-term: gold is very hard to time but I think we're at short-term resistance here b/w about $1215 and $1220. If we break through, a test of the highs is in the cards, I believe. Given we had a weekly bearish engulfing candle last week and low volume coming on these three daily candles higher, perhaps it is more likely we continue last week's move lower after setting a mid-week high here in order to continue to consolidate below the highs...a continuation of last week's down move should eventually lead to a test of $1150 (a scenario I'd prefer before the highs are broken again, but which admittedly may not happen).

Sharpe Trader

I am still of the opinion as stated in my Friday post: "My guess is there is more to the upside short-term here and the "true" handle will form over the summer in a more subdued manner (more like Wave 4 action - tedious and several months long)"

However, in examining the Daily Gold Chart - I can make the case for Wave C down towards 1,150 now, before the explosive move up.





stubaby

stu- it could play out like that, but i made an observation a little while ago, that new moons were coinciding w/gold tops, which has happened the last several moon cycles and full moons have coincided w/gold bottoms. tomorrow is the full moon . so , although today was an ugly candle for the miners, i am giving the market some slack.
dharma

[dharma]

this could help the miners
THE Rudd government is moving towards a major backdown on its $12 billion tax on resources, redefining its proposed super-profits levy, but the big mining companies have declared the changes do not stop the risk to investment in Australia.
http://www.theaustra...d-1225871786155
dharma

now if the euro rallies, maybe it will be time for the dolar to be viewed in a different light

[dharma]

yesterdays painted candles took the shorts in the miners/broads behind the woodshed today. i am sticking to my positions if and until we get closer to my june date. if that harmonic is about to change so be it. but the cycle has worked since this bulls inception. the broads are up big, the miners are up bigger. what's it going to take to get folks to realize the power of the trend somehow, when it comes to gold folks dont think the power of the trend applies. they are impressed and stupefied by bogus bearish wave counts. its simple folks the trend is your friend. dharma

[dharma]

felix zulauf does not give interviews outside of barrons
until yesterday
i found this most interesting
http://www.kingworld...lix_Zulauf.html

background noise here. next week is a new game
dharma

[stocks]

felix zulauf does not give interviews outside of barrons
until yesterday
i found this most interesting
http://www.kingworld...lix_Zulauf.html

dharma

Fascinating interview

the sequence:

crushing deflation
banking crisis
massive currency devaluation in just 2 weeks!!
new currency issued

[dharma]

nice to have a few days where i dont have to think about anything attacking this turkish ship could be major. breaking above 1229 ,gold breaks into the next cycle and signals its sights are set on new highs. i am on alert , but relaxed w/my positions. in due time they will all be heading this way dharma

[dharma]

gold vending machines
http://money.cnn.com...d_atm/index.htm
here is rosenberg 3k gold may be conservative
http://www.youtube.c...e=youtube_gdata
dharma