the trend is your friend
#111
Posted 05 October 2010 - 11:55 AM
Defenders of the status quo are always stronger than reformers seeking change,
UNTIL the status quo self-destructs from its own corruption, and the reformers are free to build on its ashes.
#112
Posted 06 October 2010 - 10:21 AM
#113
Posted 06 October 2010 - 10:54 AM
Dharma,this move has been picture perfect from the 1156 lows, all you needed was a ruler and you could draw the channel that gold respected till yesterday. it broke out of the channel and became even more vertical, a testing of the channel, @some point seems reasonable. hui broke out of 2 1/2 year consolidation yesterday. the pattern projects to a near double. juniors are the most undervalued sector in almost all the markets today. doing some research and homework could make some serious coin. silver took out its old highs. in this sector what is not to like?. weakness is accumulation time. hopefully the same mistakes wont be made again and again . i miss all the short posts. not one member of the forbes 400 made their $$$ by shorting a bull market. those that short bull markets are in the trader graveyards. where 85% of the traders lie. may they rest in peace.
i am in watch mode. i rang the cash register on 10% of my holdings(i bought san gold) and now i will just ride the rest.
interesting how it works isnt it. the cbs sold publics gold in the low 300s , no protests! in fact the guy in england got elected prime minister and sold the publics gold in the low 300s. and then gold crosses 1k and and the cbs are on the buy side, in a big way. not much different than the public!!!!! now cbs are not sellers they are buyers. coming to the table soon wil be joe. and when the piranha feeding fenzy starts we can all move on to something else. it is years away!
dharma
Thanks for your update..we are close to your new cycle of 1358..but also close to Venus Retrograde reversal..interesting how that works too...with doing our own due diligence..do you have any juniors you like the best? I heard this guy from Blackrock on Bloomberg talking about how the miners are having problems with inflation despite the rise in gold hurting their margins. Any thoughts on that? I normally just deal with the indexes but wondered what are your favorite juniors.
Thanks
TM
#114
Posted 06 October 2010 - 11:36 AM
i dont like to put the juniors i follow out there. butDharma,this move has been picture perfect from the 1156 lows, all you needed was a ruler and you could draw the channel that gold respected till yesterday. it broke out of the channel and became even more vertical, a testing of the channel, @some point seems reasonable. hui broke out of 2 1/2 year consolidation yesterday. the pattern projects to a near double. juniors are the most undervalued sector in almost all the markets today. doing some research and homework could make some serious coin. silver took out its old highs. in this sector what is not to like?. weakness is accumulation time. hopefully the same mistakes wont be made again and again . i miss all the short posts. not one member of the forbes 400 made their $$$ by shorting a bull market. those that short bull markets are in the trader graveyards. where 85% of the traders lie. may they rest in peace.
i am in watch mode. i rang the cash register on 10% of my holdings(i bought san gold) and now i will just ride the rest.
interesting how it works isnt it. the cbs sold publics gold in the low 300s , no protests! in fact the guy in england got elected prime minister and sold the publics gold in the low 300s. and then gold crosses 1k and and the cbs are on the buy side, in a big way. not much different than the public!!!!! now cbs are not sellers they are buyers. coming to the table soon wil be joe. and when the piranha feeding fenzy starts we can all move on to something else. it is years away!
dharma
Thanks for your update..we are close to your new cycle of 1358..but also close to Venus Retrograde reversal..interesting how that works too...with doing our own due diligence..do you have any juniors you like the best? I heard this guy from Blackrock on Bloomberg talking about how the miners are having problems with inflation despite the rise in gold hurting their margins. Any thoughts on that? I normally just deal with the indexes but wondered what are your favorite juniors.
Thanks
TM
http://www.mcewencapital.com/
that is a nice list
mining always has problems, its why it can be so rewarding
qe2 on deck? is it in the market ? maybe
i think we break into the next cycle and then 1460 becomes the death zone.
it sure looks like it wants higher.
dharma
#115
Posted 06 October 2010 - 12:56 PM
#116
Posted 06 October 2010 - 01:45 PM
dharma: didnt you have the 8th as a date of some significance?
It's Venus Retrograde...significance of a major crest/low around 78-80% of the time..with an average of a 4+% move within approximately 12 days from that date..last time was the low March 1999 in the market...on March 6..another one was a low Oct 2002..
#117
Posted 07 October 2010 - 05:41 AM
#118
Posted 07 October 2010 - 09:16 AM
#119
Posted 07 October 2010 - 09:38 AM
Edited by johngeorge, 07 October 2010 - 09:40 AM.
johngeorge
#120
Posted 07 October 2010 - 09:54 AM
Yeah, this market is very confusing.traderama- i would like to see a close above 1358 for the market to indicate its intentions.
sinclair is so adamant that gold is going to 1650 by jan 11.
dharma
Jim Sinclair has been saying for a long time now that gold will hit $1,650 by January 2011. But Raymond Merriman has also been saying for a long time that gold has a 22 month cycle low due sometime between May 2010 and January 2011. The cycle low hasn't occurred yet because gold should fall $200 to $300 from the preceding high. One of these two people must be wrong. How can gold hit $1,650 by January 2011 if a 22 month cycle low is due between now and then?
So who is right, Jim Sinclair or Raymond Merriman? Any opinions out there?
Gold would still remain in its long term bullish uptrend even if it were to sell off $200 to $300 from the most recent high of around $1,360.