128 replies to this topic

[Ken]

i have some cross currents thursday/friday i want to see how that plays out. but i do expect a strong finish into months end.

dharma, what did you mean by "cross currents" on thursday/friday? Do you see thursday/friday as a short sell off? I ask because Merriman also has this thursday/friday as a critical reversal date for gold and silver. Could it be a high or a low on those days? Merriman doesn't know for sure but his bias is this thursdayfriday will be a low. Thoughts?

agree w/merriman. i am looking for some kind of pull back in here, which ends friday. and we finish the month on a strong note. notice how the market corrections intraday. open up yesterday, go down into the fed announcement,then have a rally. day finished.
dharma

According to Kitco, and as of this very minute, gold and silver are making new highs. It would seem that gold is going to put in a high on Merriman's critical reversal date of Sept 23-24. That means Monday would most likely be a down day for the precious metals. Gold still has not put in a major cycle or a half-primary cycle low. We're currently in the 8th week of this primary cycle and half-primary cycle lows occur during the 8th to 10th week. It wouldn't surprise me to see gold put in a half-primary cycle low next week which would be the 9th week of the current primary cycle. Gold would need to fall down to the 25 day moving average which as of the close yesterday was $1,253.55.

Venus turns retrograde on Oct 8th. According to Merriman, if the crest in gold occurs on Sept 23-24 then an important low could occur around Oct 8th which would be a buying opportunity.

I'm not very familiar with the details of astrology so maybe dharma, tradermama or someone else can answer this question. According to Merriman, Mars is in Scorpio from Sept 14 to Oct 28th and gold 90% of the time is bullish for 2 to 5 weeks during this time period. However, he goes on to say that in about 80% of the cases the gold rally will top out after 13 degrees of Scorpio. In the other situations, it tops out very early and then sells off, as it did in the October - November 2008 instance, the last time in Scorpio. Anyone have any thoughts on that? On what date will we be 13 degrees of Scorpio? We've already had 2 weeks of a bullish move in gold. Is it possible the gold rally could end early this time?

Edited by Ken, 24 September 2010 - 06:46 AM.

[tradermama]

i have some cross currents thursday/friday i want to see how that plays out. but i do expect a strong finish into months end.

dharma, what did you mean by "cross currents" on thursday/friday? Do you see thursday/friday as a short sell off? I ask because Merriman also has this thursday/friday as a critical reversal date for gold and silver. Could it be a high or a low on those days? Merriman doesn't know for sure but his bias is this thursdayfriday will be a low. Thoughts?

agree w/merriman. i am looking for some kind of pull back in here, which ends friday. and we finish the month on a strong note. notice how the market corrections intraday. open up yesterday, go down into the fed announcement,then have a rally. day finished.
dharma

According to Kitco, and as of this very minute, gold and silver are making new highs. It would seem that gold is going to put in a high on Merriman's critical reversal date of Sept 23-24. That means Monday would most likely be a down day for the precious metals. Gold still has not put in a major cycle or a half-primary cycle low. We're currently in the 8th week of this primary cycle and half-primary cycle lows occur during the 8th to 10th week. It wouldn't surprise me to see gold put in a half-primary cycle low next week which would be the 9th week of the current primary cycle. Gold would need to fall down to the 25 day moving average which as of the close yesterday was $1,253.55.

Venus turns retrograde on Oct 8th. According to Merriman, if the crest in gold occurs on Sept 23-24 then an important low could occur around Oct 8th which would be a buying opportunity.

I'm not very familiar with the details of astrology so maybe dharma, tradermama or someone else can answer this question. According to Merriman, Mars is in Scorpio from Sept 14 to Oct 28th and gold 90% of the time is bullish for 2 to 5 weeks during this time period. However, he goes on to say that in about 80% of the cases the gold rally will top out after 13 degrees of Scorpio. In the other situations, it tops out very early and then sells off, as it did in the October - November 2008 instance, the last time in Scorpio. Anyone have any thoughts on that? On what date will we be 13 degrees of Scorpio? We've already had 2 weeks of a bullish move in gold. Is it possible the gold rally could end early this time?

Hi Ken,
I appreciate your Merriman updates. Dharma has the experience here when it comes to interpretation seeing he is the pro astrologer. That said, all I know is Mars is a co-ruler of Scorpio. Pluto now rules it but prior to that Mars did. One of many traits of Scorpio is being "resourceful". Based on what I have read it is the "house of others resources" and one of the colors of Scorpio is gold. That's the connection I would make why it rallies when Mars goes into Scorpio but I dont know why 13 degrees. Mars is also is the aggressive planet which imo puts it into an aggressive move. You should email Merriman that question. He will answer you. It's a great question.

TM

[dharma]

thanks guys traderama, i am wondering: 1-tuesdays interday correction was deep. could that have been the sell off 2-we did correct yesterday. i am not very lucid @the moment preoccupied w/fires in my life. they are small ,but grabbing my attention. one thing that dawned on me this morning is , this is an election year. which means that alot of money will be spent getting these bozos elected. which is inflationary. then there is venus retrograde on october 8th looming large. as i stated yesterday , i bought the weakness. gold is still moving up in the channel. i suspect it will break out of that. anyway no decisions to make right here the round #is resistance so i expect it spends some time here. sitting . waiting. watching mars in scorpio is bullish for the metals. september is positive for my work. october gets iffy dharma

[tradermama]

thanks guys traderama, i am wondering: 1-tuesdays interday correction was deep. could that have been the sell off 2-we did correct yesterday. i am not very lucid @the moment preoccupied w/fires in my life. they are small ,but grabbing my attention. one thing that dawned on me this morning is , this is an election year. which means that alot of money will be spent getting these bozos elected. which is inflationary. then there is venus retrograde on october 8th looming large. as i stated yesterday , i bought the weakness. gold is still moving up in the channel. i suspect it will break out of that. anyway no decisions to make right here the round #is resistance so i expect it spends some time here. sitting . waiting. watching
mars in scorpio is bullish for the metals. september is positive for my work. october gets iffy
dharma

Apparantly Mars and Venus both goe into 13 degrees if Scorpio starting in Oct 5th...then like you said, Venus goes direct oct 8th...,.which is typically of a reversal for the markets....in the stock market in the past Merriman referenced March 6,2009 and Oct 2002 being significant "lows" for the market......We are doing the opposite in the gold and equity market..appearing to go up into it?..rather than falling into Venus retrograde..as we did those other 2 times mentioned..... Of course, that could change still. But something is different this time or the dynamics of how the outcome might be?

Regarding Venus direct...when the markets hit their low in march 2009 gold jumped from 884.10 to about 948 within an intraday. then a couple of days later. it started tanking into beginning of april...in Oct 2002 gold made a significant low at 309.80...then continued up to Feb 2003 to 388.90...

Mars will go into Sagittarius I think Oct 13...which can exaggerate a move too....up or down...just like 2009 it went down quick..and 2002 it went up quick....I'm not calling anything here but noting the weather forecast for then ...

Regarding the markets now, what strikes me funny, is many traders had sell signals on the equities, I've been getting new bearish alerts of changes in the momentum of the market using Tom Dorsey's Point and Figure setups....in a bearish sense the past 2 days..For the past 3 weeks I got the bullish setups...for instance, yesterday night I got an alert the the 10 week momentum turning bearish..or the other day the Rut was one box away from a RS (relative Sell)...(Dorsey's set up is different than stockcharts fwiw)...but thought I"d mention this....however, today we are up big??...I get the feeling this is going to tank either the end of the day or early next week....Then again maybe this is what happens when they screw around with liquidity....

TM

[dharma]

just a pointer same action interday. open strong , then weakness, then off to the races again. it serves to work off the overbought condition. also, resistance :1300 and then 1309 dharma

[darnelds]

Hadik is looking for a low in gold the October 18-22.

[JGUITARSLIM]

Just an observation... If things hold up here we'll have highest weekly close GDX in 2.5 years. Only other week we had a higher close was back in March 9th 2008 @ 56.26

[dharma]

in runs momo takes over greed comes into play. off the big round # we would normally get more of a correction. the market is firm . not giving ground. yes it could consolidate more, yes it could correct. i am a buyer of weakness in here. soon i will only be a seller , but for now, i am wearing my buy hat and i am prowling for oversold miners w/divergences on hourly charts. make no mistake this is a strong market. and i am interested to see what the big selloff in the dollar leads to. 2 fed chairman volker was bent on strengthening the dollar bernake bent on qe and monetizing the debt= weakening the dollar . gold topped in 80 and benny is just starting to work his magic dharma

[dharma]

didnt do anything i am noticing the experts are calling for a correction have they been long? sure would not surprise me holding dharma

[johngeorge]

didnt do anything
i am noticing the experts are calling for a correction
have they been long?
sure would not surprise me
holding
dharma

dharma

I bought a small position in SLW this am for a trade. Silver seems to me to be the hotter play now. Will see. Holding my junior miners as well as Franco Nevada (FNNVF), Great Western Minerals (GWMGF) and Rogers Intl. Agriculture (RJA). Thanks for the updates.

Jesse's Cafe Amercain
Jesse's Gold Target

Best to you.

Edited by johngeorge, 24 September 2010 - 10:54 PM.