18 replies to this topic

[Ken]

Thanks Ken - I too believe that there is a good chance of one more down for this correction (a-b-c). If so what's the chance that the bulk of the correction completes this week and Nov 9th turns out to be a low?

Well, Merriman's bias is that the lows would come after Nov 9th since the bullish time period for precious metals (heliocentric mercury in Sagittarius) ends then. So the precious metals should rally this and early next week at which time a decline would start. In fact, Merriman is advising his subscribers who are aggressive traders to short silver this week between Tuesday- Thursday with a stop loss on a close above $25.50.

So far the precious metals haven't acted super bullish since Fri, Oct 29th when heliocentric Mercury entered Sagittarius but I'm guessing that may change with the FOMC announcement at 2:15 PM on Wed, Nov 3. When heliocentric Mercury enters Sagittarius 65% of the time it's super bullish for the precious metals, 15% of the time it's moderately bullish and 20% of the time it's bearish and a sharp decline occurs.

[tradermama]

Thanks Ken - I too believe that there is a good chance of one more down for this correction (a-b-c). If so what's the chance that the bulk of the correction completes this week and Nov 9th turns out to be a low?

Well, Merriman's bias is that the lows would come after Nov 9th since the bullish time period for precious metals (heliocentric mercury in Sagittarius) ends then. So the precious metals should rally this and early next week at which time a decline would start. In fact, Merriman is advising his subscribers who are aggressive traders to short silver this week between Tuesday- Thursday with a stop loss on a close above $25.50.

So far the precious metals haven't acted super bullish since Fri, Oct 29th when heliocentric Mercury entered Sagittarius but I'm guessing that may change with the FOMC announcement at 2:15 PM on Wed, Nov 3. When heliocentric Mercury enters Sagittarius 65% of the time it's super bullish for the precious metals, 15% of the time it's moderately bullish and 20% of the time it's bearish and a sharp decline occurs.

Thanks Ken...I recall at the end of July Mercury was going into Saggi and we didnt have a rally but a low in the beginning of August and that started the rally...we are close to macd crossovers here especially on gdx and $hui...you can see them on Jackie Chan's charts..from page 1-2

http://stockcharts.c...t...04&cmd=show[s47184904]&disp=O

So, my guess is we will rally within a week or 2. Silver is the strongest imo and there seems to be a strong bid under Silver...when gold was retreating last week..silver held its ground...we'll see...but i guess i dont get why one would short silver in a strong uptrend..instead of buying the dips........especially now that the CFTC seems to be going after the silver manipulators..that could help with support and/or prices to go higher...maybe I"m wrong in the way I'm looking at this....However, He was wrong on gold for August which he did admit in his column...I'll put TA over cycles and astrology first...I'm buying on dips for now unless I see gold breakdown under 1333 which would cause me to pause. But no matter how this comes out..I'll let the market tell me..

Thanks again and keep them coming..Also Merriman favors the market going up to possibly 13k by June unless it closes under 9900. If you follow Terry Laundry's T theory which also has credibility for the long term view...he has us topping this month and starting the bear market. his short term Ts have been off lately but the long term he has accuracy on this side..,,..it will be interesting to see how this pans outl
TM

[tradermama]

Thanks Ken - I too believe that there is a good chance of one more down for this correction (a-b-c). If so what's the chance that the bulk of the correction completes this week and Nov 9th turns out to be a low?

Well, Merriman's bias is that the lows would come after Nov 9th since the bullish time period for precious metals (heliocentric mercury in Sagittarius) ends then. So the precious metals should rally this and early next week at which time a decline would start. In fact, Merriman is advising his subscribers who are aggressive traders to short silver this week between Tuesday- Thursday with a stop loss on a close above $25.50.

So far the precious metals haven't acted super bullish since Fri, Oct 29th when heliocentric Mercury entered Sagittarius but I'm guessing that may change with the FOMC announcement at 2:15 PM on Wed, Nov 3. When heliocentric Mercury enters Sagittarius 65% of the time it's super bullish for the precious metals, 15% of the time it's moderately bullish and 20% of the time it's bearish and a sharp decline occurs.

Ken, Looks like Merriman was correct on this one..we have gone down on heavy volume...Thanks for the updates...keep them coming

TM

[Ken]

Well, we're getting close to determine if Merriman was right or not. Here are more details of what he stated for this week's gold & silver report. His advice was to exit out of long positions in gold between Tues - Thurs this week when the price traded between $1370 to $1390. Gold is at those price levels right now. For aggressive traders his advice was to short gold between Tues - Thurs when the price traded between $1370 to $1390 with a stop loss on a close above $1422. Ideally he'd like to see silver trade above $24.95 (which it's doing right now) and make a new yearly high while gold would not be able to trade above its yearly high of $1388.10 for intermarket bearish divergence. So far so good because as I write this gold has not been able to take out $1388.10. One thing that causes me a little concern is that Merriman also stated that with heliocentric Mercury in Sagittarius he believed most of the rally would correspond to the middle of the week when the Fed announced its plans for QE2. However, strangely enough yesterday (Wednesday - the middle of the week) was a big down day for gold and silver so how does that change the outcome? However, I'd argue that Thursday is also the middle part of the week as well. In Merriman's opinion, with Mars in Sagittarius there is likely to be a sharp drop in gold once we get past helio Mercury in Sag which is Tues, Nov 9th. Let's see how this plays out. I'm bullish on gold and silver but nothing goes up forever and silver's move has been absolutely parabolic. Considering this is the 14th week of the primary cycle and we're putting in a secondary top for gold and new highs for silver it is possible it's down from here until we hit the primary cycle low in the next few weeks before the metals take off again to new all time highs. In fact, it'd make perfect sense for the metals to top here and put in a primary cycle low on Nov 17th from where a new primary cycle would begin. A new primary cycle from Nov 17th would possibly achieve Jim Sinclair's target price for gold of $1650 by January 2011.

[tradermama]

Well, we're getting close to determine if Merriman was right or not.

Here are more details of what he stated for this week's gold & silver report.

His advice was to exit out of long positions in gold between Tues - Thurs this week when the price traded between $1370 to $1390. Gold is at those price levels right now. For aggressive traders his advice was to short gold between Tues - Thurs when the price traded between $1370 to $1390 with a stop loss on a close above $1422. Ideally he'd like to see silver trade above $24.95 (which it's doing right now) and make a new yearly high while gold would not be able to trade above its yearly high of $1388.10 for intermarket bearish divergence. So far so good because as I write this gold has not been able to take out $1388.10.

One thing that causes me a little concern is that Merriman also stated that with heliocentric Mercury in Sagittarius he believed most of the rally would correspond to the middle of the week when the Fed announced its plans for QE2. However, strangely enough yesterday (Wednesday - the middle of the week) was a big down day for gold and silver so how does that change the outcome? However, I'd argue that Thursday is also the middle part of the week as well. In Merriman's opinion, with Mars in Sagittarius there is likely to be a sharp drop in gold once we get past helio Mercury in Sag which is Tues, Nov 9th. Let's see how this plays out.

I'm bullish on gold and silver but nothing goes up forever and silver's move has been absolutely parabolic. Considering this is the 14th week of the primary cycle and we're putting in a secondary top for gold and new highs for silver it is possible it's down from here until we hit the primary cycle low in the next few weeks before the metals take off again to new all time highs.

In fact, it'd make perfect sense for the metals to top here and put in a primary cycle low on Nov 17th from where a new primary cycle would begin. A new primary cycle from Nov 17th would possibly achieve Jim Sinclair's target price for gold of $1650 by January 2011.

Thanks Ken...what i got yesterday was a new point and figure buy signal on the euro...it broke out..pnf is a good tool to blank out the noise..because it's all about supply and demand..and in this case..demand has taken over on the euro as its trend has now changed to an uptrend according to dorsey's pnf...so my question is if euro is in a new uptrend..and gold/silver been going up with it ..why yesterday it went down when euro was up like .40-.50..(yea, intraday bearishness)...now..today it's up with it and overbought....yesterday it felt like they took out the stops and it was a fake out.....so unless the euro and gold/silver diverge from each other...it's bullish..even if we do have a pause near the last highs...it's very tricky to time imo...but on the otherhand..volume was very heavy on SLV...it showed the highest volume since the etf started with sellers outnumbering buyers...that said, i would think we would need to test the lows from yesterday on silver and it needs to be on light volume...

I take it he got stopped out today with silver at 25.50?

I enjoy Merriman and have learned a lot about financial astrology. When I factored in what I just saw, I'm not sure it's worth a short on gold or silver..instead just buy the dips. ..The action yesterday is dangerous to be short metals imo. Yea, we're due to pause and we might be getting that next week and go into a low for Venus direct but if today holds you are getting some buy signals with the macd crossovers.

Keep the updates coming.


TM

[Ken]

I take it he got stopped out today with silver at 25.50?

Actually, no he wouldn't have been stopped out.......yet. His stop loss was based on a close above $25.50. If silver doesn't drop a little by the end of the day then I guess he will get stopped out. Of course, I don't trade futures so a stop loss based on a close doesn't help me very much.

You're more knowledgeable about astrology than I. Venus going direct on Nov 17th? 18th? would more likely be a low than a high. Is that correct? I do know Merriman has Nov 17th as the next critical reversal date and that would be the 16th week of the primary cycle. A perfect time to put in a primary cycle low.

[tradermama]

I take it he got stopped out today with silver at 25.50?

Actually, no he wouldn't have been stopped out.......yet. His stop loss was based on a close above $25.50. If silver doesn't drop a little by the end of the day then I guess he will get stopped out. Of course, I don't trade futures so a stop loss based on a close doesn't help me very much.

You're more knowledgeable about astrology than I. Venus going direct on Nov 17th? 18th? would more likely be a low than a high. Is that correct? I do know Merriman has Nov 17th as the next critical reversal date and that would be the 16th week of the primary cycle. A perfect time to put in a primary cycle low.

Actually, Venus ends retro on the 18th and goes direct on the 19th but close enough. Here is an old column of Merriman's referencing when Venus went direct in March 2009

it is not uncommon to see it reverse and start a counter-trend move that lasts into the time period when Venus turns direct. Venus turns direct in 5 weeks (April 18). The Venus direct period also has a high historical correlation (73%) to the culmination of primary or greater cycles within 10 trading days.

http://astrologers-o...ort/3-16-09.php

Today silver seems stronger than gold. The volumes on gld/slv are light in comparison to yesterday so maybe that short term top is coming in and we do fulfill the 73% correlation to a low when Venus goes Direct around the 19th...as you know we have plus/minus 3 days with his turn dates..well we have a full moon on Nov 21 which typically has a plus/minus 1..perhaps it's the 20th for a reversal. We'll see

TM

[tradermama]

i'm seeing profit taking on the Euro now...making a new low of the day. TM

[Ken]

His advice was to exit out of long positions in gold between Tues - Thurs this week when the price traded between $1370 to $1390. Gold is at those price levels right now. For aggressive traders his advice was to short gold between Tues - Thurs when the price traded between $1370 to $1390 with a stop loss on a close above $1422. Ideally he'd like to see silver trade above $24.95 (which it's doing right now) and make a new yearly high while gold would not be able to trade above its yearly high of $1388.10 for intermarket bearish divergence. So far so good because as I write this gold has not been able to take out $1388.10.

Dec 2010 Gold futures contract took out the previous high of $1388.10. It has hit $1393.40 already and is still trading.