108 replies to this topic

[johngeorge]

Thanks stubaby and dharma for all the informative, thoughtful posts. Need to keep a close eye on this bull and am watching and waiting for divergences. Dollar appears to be key lately.

[johngeorge]

Thanks stubaby and dharma for all the informative, thoughtful posts. Need to keep a close eye on this bull and am watching and waiting for divergences. Dollar appears to be key lately.

Just picked up NGD for a trade. Will see what happens.

Edited by johngeorge, 20 October 2010 - 09:51 AM.

[dharma]

so yesterday was a shakeout, hopefully no one sold the lows. which shakeouts are designed to do. 1325 is support and a death zone for this cycle, its possibull that it could be the low. more of the same for this pattern. short sharp shakeouts. i am assuming that the 14th was the highs, and that a larger correction will develop. i will see ,using that assumption, if i am in tune w/the market or not and make the necessary adjustments. i have cash to redeploy. if 1325 holds then i still should get an opportunity to buy, if not , then i will buy into my zone. we do have hourly divergences on hui , but not xau. dharma i still see alot of the public waiting to enter this market. will the market accommodate them w/lower prices or will they have to pay up?!

[jjc]

Went long /GC today. Looking for a bounce off the bottom for /DX (Dollar Index) to reevaluate.

[dharma]

volatility is increasing. take a good luck at the trend since the july lows, it is a steep angle of ascent w/more than a dozen corrections along the way. each correction has been short in time. tuesdays, smack down could be another in the long line of corrections. as traderama or ken has pointed out into the full moon, merriman has action today and tomorrow. how that shakes out, i am clueless. what i do see is 1325 has not been tested and has held so far. i am back not only wearing my buy hat , but i am buying. my feeling , as i have stated 1400 will be broken on this run and perhaps even 1500 . i am not talking about in the distant future, i am talking about on this run. now, i realize the highs were made on the 14 th and today is the 21st, but i am leaning towards the correction being short in time. could i be wrong, you betcha, but sooner or later the trend will carry my buys higher. now remember i am not a trader, i am a position player that is my mo. my goal is to remain w/the trend period.
take a look @this http://www.marketwat...rket-2010-10-19
climbing a wall of worry!
take a look @cdy(individual case, not to be applied to the whole) and considering yesterdays volume, can someone tell me what that means? seriously any volume expertise around here!!!
i will try and be all in by the end of trading tomorrow. not jumping up for price, but picking my issues and spots . notice jag has hourly divergences from oversold for example. but, none of that matters, unless i get the direction wrong
the theme of the thread is the trend is your friend. sure its long in the tooth -10-11 years. but notice when currencies go into a trend they do so for decades. the dollar topped under w. and its trend has been down. sure there are rallies, that is part of the trend. few, very very few make money trading short term. they are the top 5-7% . the rest are easy pickings for the banksters. buying the thrill and selling tuesdays smackdown. no matter what hat you wear, be professional
dharma

Edited by dharma, 21 October 2010 - 09:59 AM.

[cgnx]

This would be a great time for gold to catch traders with their pants down. All expecting further downside. Limit up day would have them all scrambling to get their longs back. Let's watch and see.

[dharma]

i know 2008 made big impressions on everyone , silver is down $2 from the high and gold 60+ , not being exact here. and it seems everyone is frozen , i am out here talking to myself. my job is to make $$$ , i dont make a cent by forecasting, its not my biz. making money is . gdx/gld/xau/hui are all showing hourly divergences(its all i watch). sure they could be taken out. and sure the market could bounce and then make lower lows. i make money by trading not forecasting. i have bought miners who also display divergences on my hourly charts. can the market correct more, you bet, then i will commit more money. until i am all in . in bulls the money is made by buying weakness. @some point i expect an echo of 2008 , but not now. betting for /against q2 puts me as a deer in the headlights. its something we wont know until it happens. so, i dont concern myself w/it. i have to keep my sights set on the market. dharma

[johngeorge]

i know 2008 made big impressions on everyone , silver is down $2 from the high and gold 60+ , not being exact here. and it seems everyone is frozen , i am out here talking to myself. my job is to make $$$ , i dont make a cent by forecasting, its not my biz. making money is . gdx/gld/xau/hui are all showing hourly divergences(its all i watch). sure they could be taken out. and sure the market could bounce and then make lower lows. i make money by trading not forecasting. i have bought miners who also display divergences on my hourly charts. can the market correct more, you bet, then i will commit more money. until i am all in . in bulls the money is made by buying weakness. @some point i expect an echo of 2008 , but not now. betting for /against q2 puts me as a deer in the headlights. its something we wont know until it happens. so, i dont concern myself w/it. i have to keep my sights set on the market.
dharma

dharma

Sure appreciate your updates. Thanks.

Gold continues to hover around the $1325 area on the Dec futures as the dollar rally stalls. It still appears to me, at this juncture, that the dollar holds the key to gold prices. For how long I have no idea. Holding NGD that I bought the other day as well as GWMGF and EDVMF from some time back. I too have my buying hat on and looking to purchase in here for a trade. Picked up some gold eagles the other day and put them away.

Best to you.

[tradermama]

i know 2008 made big impressions on everyone , silver is down $2 from the high and gold 60+ , not being exact here. and it seems everyone is frozen , i am out here talking to myself. my job is to make $$$ , i dont make a cent by forecasting, its not my biz. making money is . gdx/gld/xau/hui are all showing hourly divergences(its all i watch). sure they could be taken out. and sure the market could bounce and then make lower lows. i make money by trading not forecasting. i have bought miners who also display divergences on my hourly charts. can the market correct more, you bet, then i will commit more money. until i am all in . in bulls the money is made by buying weakness. @some point i expect an echo of 2008 , but not now. betting for /against q2 puts me as a deer in the headlights. its something we wont know until it happens. so, i dont concern myself w/it. i have to keep my sights set on the market.
dharma

Trust me Dharma, you're not talking to yourself. You're talking to those who are listening. We appreciate the updates to know your thoughts. You have had this right on and have had the wisdom to stand by your convictions. I have learned a lot by your comments.


TM

[dharma]

i know 2008 made big impressions on everyone , silver is down $2 from the high and gold 60+ , not being exact here. and it seems everyone is frozen , i am out here talking to myself. my job is to make $$$ , i dont make a cent by forecasting, its not my biz. making money is . gdx/gld/xau/hui are all showing hourly divergences(its all i watch). sure they could be taken out. and sure the market could bounce and then make lower lows. i make money by trading not forecasting. i have bought miners who also display divergences on my hourly charts. can the market correct more, you bet, then i will commit more money. until i am all in . in bulls the money is made by buying weakness. @some point i expect an echo of 2008 , but not now. betting for /against q2 puts me as a deer in the headlights. its something we wont know until it happens. so, i dont concern myself w/it. i have to keep my sights set on the market.
dharma

Trust me Dharma, you're not talking to yourself. You're talking to those who are listening. We appreciate the updates to know your thoughts. You have had this right on and have had the wisdom to stand by your convictions. I have learned a lot by your comments.


TM

thanks it makes me feel like i am not wasting my time.
dharma