108 replies to this topic

[johngeorge]

Picked up a starter position in GGS this pm. I took at look at it, thanks dharma, and looks ok to me for a ST or INT term trade. Looking to buy EXK as well on a pullback. Bought some NGD last week. In trading mode as well. Best to you. Thanks also to Stubaby for the posts. Really good stuff.

[dharma]

jg- i never heard of that stock before, what do they do? well this is all background noise for me .close above 1358 and we break into the next cycle . that would perk me up a bit. we are churning here. spinning our wheels? gathering momo for a thrust? my crystal ball is foggy. i would prefer a break so i could buy on the cheap. every day i peruse the charts scouring for buys . sgrcf and jag are the only 2 hammered juniors that are attractive and frankly i dont want anymore of either right now. i learned in the last bull that diversification in the sector is the way to go. being too heavy in one stock can really cost you. so, i wait right here. these levels overall are not attractive for me , beat someone up and then i am interested. stocks piece above is the hard reality. prepare for it. take a look @how much produce is imported? imagine that not being there! i shop in whole foods. dharma

[johngeorge]

dharma GGS: Business Summary Global Geophysical Services, Inc., doing business as GGS Seismic, Inc., provides high density three dimensional land and transition zone seismic data acquisition solutions in the United States and internationally. The company also offers reservoir grade 2D and 3D land and marine seismic acquisition solutions for exploration and production companies to locate oil and gas reserves; provides high density 3D seismic data sets; and engages in identifying, developing, and managing surveys. Global Geophysical Services, Inc. was founded in 2003 and is headquartered in Houston, Texas. As you can see they are a small company in the oil/gas arena. Not a PM play, but, rather a commodity play in the energy sector. Took a small starter position and will see. I try to diversify among sectors as I see what could be an emerging trend or a trade. Texas shale oil and gas is booming now as rigs not restarting in Gulf of Mexico, but, moving back on shore. Thank you for all your posts. I don't miss a one of them. Best to you.

[inamosa]

Just my humble opinion: We have a close above $1358, albeit just barely. With the break of $1350 having occurred, I see a complex H&S bottom (or Adam & Adam bottom) has formed on the 2-hr chart which targets $1375-85. I think it's best to assume the correction in gold is over - meaning that a re-test and possible breakout of the recent highs ($1380-90) is forthcoming. For margin and top-up purchasing, I would only start to worry if my "caution price point" is broken - and as of today that's at ~$1333.

Edited by alysomji, 30 October 2010 - 02:32 PM.

[johngeorge]

Just my humble opinion:

We have a close above $1358, albeit just barely. With the break of $1350 having occurred, I see a complex H&S bottom (or Adam & Adam bottom) has formed on the 2-hr chart which targets $1375-85.

I think it's best to assume the correction in gold is over - meaning that a re-test and possible breakout of the recent highs ($1380-90) is forthcoming.

For margin and top-up purchasing, I would only start to worry if my "caution price point" is broken - and as of today that's at ~$1333.

alysomji

Thanks for the analysis. You consistently bring good stuff and I always appreciate your input. FWIW I think we are moving higher very soon. Miners could very well start leading as well.

Best to you.

[dharma]

Just my humble opinion:

We have a close above $1358, albeit just barely. With the break of $1350 having occurred, I see a complex H&S bottom (or Adam & Adam bottom) has formed on the 2-hr chart which targets $1375-85.

I think it's best to assume the correction in gold is over - meaning that a re-test and possible breakout of the recent highs ($1380-90) is forthcoming.

For margin and top-up purchasing, I would only start to worry if my "caution price point" is broken - and as of today that's at ~$1333.

sound analysis alysomji
we are on the same page. 1358 breaks into the next price cycle. imho the market is showing its intentions here. all the corrections since the july lows have been short in duration. and there have been over a dozen of em. all in all it was a near vertical move. but w/ over a dozen corrections. the top of the gold harmonic occurred and we went down to 1325 which is support and now the market broke through to the next cycle. want to be cautious then wait for another close above 1358. corrections in gold have been much longer in duration then the present correction to 1325 i am guessing that the length of the harmonic remains the same , but the correction time of the harmonic is much shorter. in other words, we are about to accelerate. take a look @the long term chart of hui. study it. since the 08 lows the market has made a consolidation for a huge up move. it would not surprise me in the least to see 850 by feb 11.
darn dharma, you have gone off the deep end on that one!
perhaps but the pattern is unmistakable and so is the projection.
the problem w/studying charts is you can see what happens but the knowledge of what it felt like @that time is unknown. we are @400 gold here sept 79 and we are about to near double in price over these next couple of months . jimmys 1650, while bold , is quite conservative. buffet is not a genius , he has studied the power of the trend. and for gold the trend is fairly established (10years or so) and about to accelerate. in holland , back when tulip bulbs were the craze they sold for unbelievable prices as did the nasdaq in 2k . we are talking about human nature here. its what the markets reflect and the species is about to wake up to the fact that they can print as much currency as they want. it has no intrinsic value , only the value folks put on it.
gold is finite. and the elephants in the room , the cbs, are no longer selling they are net buyers.
that guy in england who sold their heirloom of generations @the bottom of the gold market, is now running the country. what does that say for the species?
anyway, just my thoughts for the day
dharma

Edited by dharma, 30 October 2010 - 05:41 PM.

[stubaby]

Just my humble opinion:

We have a close above $1358, albeit just barely. With the break of $1350 having occurred, I see a complex H&S bottom (or Adam & Adam bottom) has formed on the 2-hr chart which targets $1375-85.

I think it's best to assume the correction in gold is over - meaning that a re-test and possible breakout of the recent highs ($1380-90) is forthcoming.

For margin and top-up purchasing, I would only start to worry if my "caution price point" is broken - and as of today that's at ~$1333.

sound analysis alysomji
we are on the same page. 1358 breaks into the next price cycle. imho the market is showing its intentions here. all the corrections since the july lows have been short in duration. and there have been over a dozen of em. all in all it was a near vertical move. but w/ over a dozen corrections. the top of the gold harmonic occurred and we went down to 1325 which is support and now the market broke through to the next cycle. want to be cautious then wait for another close above 1358. corrections in gold have been much longer in duration then the present correction to 1325 i am guessing that the length of the harmonic remains the same , but the correction time of the harmonic is much shorter. in other words, we are about to accelerate. take a look @the long term chart of hui. study it. since the 08 lows the market has made a consolidation for a huge up move. it would not surprise me in the least to see 850 by feb 11.
darn dharma, you have gone off the deep end on that one!
perhaps but the pattern is unmistakable and so is the projection.
the problem w/studying charts is you can see what happens but the knowledge of what it felt like @that time is unknown. we are @400 gold here sept 79 and we are about to near double in price over these next couple of months . jimmys 1650, while bold , is quite conservative. buffet is not a genius , he has studied the power of the trend. and for gold the trend is fairly established (10years or so) and about to accelerate. in holland , back when tulip bulbs were the craze they sold for unbelievable prices as did the nasdaq in 2k . we are talking about human nature here. its what the markets reflect and the species is about to wake up to the fact that they can print as much currency as they want. it has no intrinsic value , only the value folks put on it.
gold is finite. and the elephants in the room , the cbs, are no longer selling they are net buyers.
that guy in england who sold their heirloom of generations @the bottom of the gold market, is now running the country. what does that say for the species?
anyway, just my thoughts for the day
dharma

dharma:

Phase 3 equals Phase 1 - Minimum Target is:

Phase 1 - 35 to 519
Phase 3 - 519 plus 484 = 1,003 with typical FIB extension (1.618) = 1,302

850 is Wave 3 of 3 of 3 target (Wave 5's are typical the strongest in commodities and extend the most)

http://stockcharts.com/h-sc/ui?s=$HUI...amp;a=204807033

stubaby

[dharma]

Just my humble opinion:

We have a close above $1358, albeit just barely. With the break of $1350 having occurred, I see a complex H&S bottom (or Adam & Adam bottom) has formed on the 2-hr chart which targets $1375-85.

I think it's best to assume the correction in gold is over - meaning that a re-test and possible breakout of the recent highs ($1380-90) is forthcoming.

For margin and top-up purchasing, I would only start to worry if my "caution price point" is broken - and as of today that's at ~$1333.

sound analysis alysomji
we are on the same page. 1358 breaks into the next price cycle. imho the market is showing its intentions here. all the corrections since the july lows have been short in duration. and there have been over a dozen of em. all in all it was a near vertical move. but w/ over a dozen corrections. the top of the gold harmonic occurred and we went down to 1325 which is support and now the market broke through to the next cycle. want to be cautious then wait for another close above 1358. corrections in gold have been much longer in duration then the present correction to 1325 i am guessing that the length of the harmonic remains the same , but the correction time of the harmonic is much shorter. in other words, we are about to accelerate. take a look @the long term chart of hui. study it. since the 08 lows the market has made a consolidation for a huge up move. it would not surprise me in the least to see 850 by feb 11.
darn dharma, you have gone off the deep end on that one!
perhaps but the pattern is unmistakable and so is the projection.
the problem w/studying charts is you can see what happens but the knowledge of what it felt like @that time is unknown. we are @400 gold here sept 79 and we are about to near double in price over these next couple of months . jimmys 1650, while bold , is quite conservative. buffet is not a genius , he has studied the power of the trend. and for gold the trend is fairly established (10years or so) and about to accelerate. in holland , back when tulip bulbs were the craze they sold for unbelievable prices as did the nasdaq in 2k . we are talking about human nature here. its what the markets reflect and the species is about to wake up to the fact that they can print as much currency as they want. it has no intrinsic value , only the value folks put on it.
gold is finite. and the elephants in the room , the cbs, are no longer selling they are net buyers.
that guy in england who sold their heirloom of generations @the bottom of the gold market, is now running the country. what does that say for the species?
anyway, just my thoughts for the day
dharma

dharma:

Phase 3 equals Phase 1 - Minimum Target is:

Phase 1 - 35 to 519
Phase 3 - 519 plus 484 = 1,003 with typical FIB extension (1.618) = 1,302

850 is Wave 3 of 3 of 3 target (Wave 5's are typical the strongest in commodities and extend the most)

http://stockcharts.com/h-sc/ui?s=$HUI...amp;a=204807033

stubaby

stubaby, your work is terrific.
the trend is your friend
dharma

[dharma]

waiting , and watching this morning. wearing my buying hat. i suspect gold will be kept under wraps these next day or 2. this election is a joke. folks forget it was w who got us into this mess. politics have become a cesspool pool. where they fling lies and smut at each other. we were running surpluses when clinton left office. 2 wars later we were running huge deficits. that 's my extent of venturing outside the market later , dharma

[dharma]

putting in some buy orders on juniors. only juniors. dharma