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the trend is your friend


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#1 dharma

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Posted 07 September 2010 - 09:16 AM

want to make money in the markets? find a trend and stick w/it simple enough! jesse said he made the most money by sitting. finding a trend and sitting. gold is in a bull trend and has been for 10years! what more does it have to do to convince folks? here we are within a stones throw of new highs, less than $10 away we are in the seasonal bullish time of year and folks find all kinds of reasons to jump ship. my work shows september as a strong month, sure there will be corrections, but @this point they will be short. nothing has changed, i am looking for new forever highs into october i look back @the drubbing the gold market took in 08 and the impression it made on traders in this sector. i do think it is very possible that 08 has a repeat performance from higher levels and it is entirely possible that it starts in october. lets see what this high looks like when we get there. no reason to jump ship here. besides this area has enough congestion that a big correction will not occur from here, we have to stretch it a bit. these sovereign debt problems are not going to go just disappear. paul volker is not in charge. they have given greece a heavy dose of medicine, but greece is insignificant to the world economy. history is replete w/times of sovereign debt, it never ends easily. sovereigns never pay off. one way or another they skirt the issue. if you dont believe me go back and study history- here is armstrongs examples(posted before)http://www.martinarm...s-7-31-2010.pdf if you havent taken some protection by now, then do so on the correction. we are talking about fiat money here. no fiat throughout recorded history has ever survived. will this time be different? i am and have been positioned. andrew jackson is not coming through those doors. dharma

Edited by dharma, 07 September 2010 - 09:17 AM.


#2 johngeorge

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Posted 07 September 2010 - 09:24 AM

andrew jackson is not coming through those doors.


Being somewhat of a halfarsed history buff I love it. :D Thanks, dharma
Peace
johngeorge

#3 dougie

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Posted 07 September 2010 - 11:11 AM

andrew would have been thankful to have someone like you

#4 tradesurfer

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Posted 07 September 2010 - 12:15 PM

I see September candle as a big up month too. If you look at the August candle it closed right at the highs. and the September monthly candle so far has barely created a bottoming tail which could suggest we just keep going up in another big belt hold candlestick. I have been trying to think of why gold would have a DOWN % september and I cannot seem to think of a good reason. the odds seem to favor a up September i am also noticing on the daily MACD histogram we just created a bullish triple P which would be ideal if it is confirmed tomorrow

Edited by tradesurfer, 07 September 2010 - 12:23 PM.


#5 dharma

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Posted 07 September 2010 - 12:20 PM

anyone notice the speculative gdxj just made new forever highs dharma

#6 dharma

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Posted 07 September 2010 - 12:35 PM

anyone notice the speculative gdxj just made new forever highs
dharma

well folks the last 2 takeovers kgc and gg paid top dollar for their targets. valuing their gold @over 1k and ounce and paying for it. chesapeake gold is valued @$12 an ounce eg. the ceo of chesapeake sits on the board of gg. wait for the feeding frenzy it is not far off . gold has gone up 5x since the lows. the miners are still underappreciated and under owned. paulson owns alot of kgc and he is one smart hombre. wait till the concept of valuing gold in the ground comes to the fore. and you think internet stocks in 2k had ridiculous valuations. wait it wont be too long for pahse 3. after the oct highs and ensuing correction
dharma

Edited by dharma, 07 September 2010 - 12:36 PM.


#7 rooster

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Posted 07 September 2010 - 01:11 PM

anyone notice the speculative gdxj just made new forever highs
dharma

well folks the last 2 takeovers kgc and gg paid top dollar for their targets. valuing their gold @over 1k and ounce and paying for it. chesapeake gold is valued @$12 an ounce eg. the ceo of chesapeake sits on the board of gg. wait for the feeding frenzy it is not far off . gold has gone up 5x since the lows. the miners are still underappreciated and under owned. paulson owns alot of kgc and he is one smart hombre. wait till the concept of valuing gold in the ground comes to the fore. and you think internet stocks in 2k had ridiculous valuations. wait it wont be too long for pahse 3. after the oct highs and ensuing correction
dharma



Dharma, do you think the next correction in October will be very long?

#8 dharma

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Posted 07 September 2010 - 01:51 PM

anyone notice the speculative gdxj just made new forever highs
dharma

well folks the last 2 takeovers kgc and gg paid top dollar for their targets. valuing their gold @over 1k and ounce and paying for it. chesapeake gold is valued @$12 an ounce eg. the ceo of chesapeake sits on the board of gg. wait for the feeding frenzy it is not far off . gold has gone up 5x since the lows. the miners are still underappreciated and under owned. paulson owns alot of kgc and he is one smart hombre. wait till the concept of valuing gold in the ground comes to the fore. and you think internet stocks in 2k had ridiculous valuations. wait it wont be too long for pahse 3. after the oct highs and ensuing correction
dharma



Dharma, do you think the next correction in October will be very long?

i dont, but who knows corrections are to confuse.
dharma

#9 Tor

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Posted 07 September 2010 - 02:21 PM

anyone notice the speculative gdxj just made new forever highs
dharma

well folks the last 2 takeovers kgc and gg paid top dollar for their targets. valuing their gold @over 1k and ounce and paying for it. chesapeake gold is valued @$12 an ounce eg. the ceo of chesapeake sits on the board of gg. wait for the feeding frenzy it is not far off . gold has gone up 5x since the lows. the miners are still underappreciated and under owned. paulson owns alot of kgc and he is one smart hombre. wait till the concept of valuing gold in the ground comes to the fore. and you think internet stocks in 2k had ridiculous valuations. wait it wont be too long for pahse 3. after the oct highs and ensuing correction
dharma



Dharma, do you think the next correction in October will be very long?

i dont, but who knows corrections are to confuse.
dharma



A few astute traders do know a few things here:

This is the most important week of the year.
So be it, look for the market to tell us what trend is forming.
Euro may be the canary.
Observer

The future is 90% present and 10% vision.

#10 dougie

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Posted 07 September 2010 - 02:30 PM

Tor: why is this the most important week of the year?