92 replies to this topic

[senorBS]

a grande correction here is always a possibility
but i fear that it would portend scary things for the economy indeed like bank closures
not sure why we would be given aq chance to load up at such reasonable prices
care to share your thinking behind this 40% correction golden?

amigo Dougie, Senor does not know about a decline to 1000 but my opinion is that there is not nearly enough awareness that a grande top could occur soon. Senor reads about gold vending machines? a new gold or metals related ETF seemingly almost every week, as one sided bullish sentiment as he has ever seen. Does that guarantee a top, of course not, does it make Senor muy, muy nervous one might occur? - si si si and your darn right it does. Just an old hombre's take on things. Best to you

PURE BS

Senor

Edited by senorBS, 12 November 2010 - 10:11 AM.

[dharma]

everything is always possible. its the difference between those who make $$$ and those sitting huddled in a corner i am wearing my buy hat this am. evidently the market is hopeful for the g20 i am a realist. 10/27lows to the highs. we have retraced .382 on the indexes. watching for opportunities. the day is young dharma

[golden]

care to share your thinking behind this 40% correction golden?

It's not my "thinking" dougie, it's my experience trading the gold market for 30+ years.

Best of luck buying any dips.

Cheers.

[senorBS]

care to share your thinking behind this 40% correction golden?

It's not my "thinking" dougie, it's my experience trading the gold market for 30+ years.

Best of luck buying any dips.

Cheers.

the canary in the coal mine in Senor's opinion is if there is a lot of selling all of a sudden in all these ETF's, GLD holds huge amounts, could get crazy of a bunch of folks try to exit at the same time.

NO BS

Senor

Edited by senorBS, 12 November 2010 - 12:20 PM.

[dharma]

gold new lows xau, hui, gdx not oversold on my hourlies wearing my buying hat , but not yet waiting for divergences dharma love the bearishness. and fear. next week will see the turn

[golden]

gold new lows
xau, hui, gdx not

Give it time....

love the bearishness. and fear.
next week will see the turn

bearishness?


90% bulls.

[dharma]

gold new lows
xau, hui, gdx not

Give it time....

love the bearishness. and fear.
next week will see the turn

bearishness?


90% bulls.

and your call for gold 1k. what are your reasons,besides you have been trading 31 years?
dharma

Edited by dharma, 12 November 2010 - 02:40 PM.

[stubaby]

gold new lows
xau, hui, gdx not

Give it time....

love the bearishness. and fear.
next week will see the turn

bearishness?


90% bulls.

and your call for gold 1k. what are your reasons,besides you have been trading 31 years?
dharma

dharma:

My outlook:


Gold Correction


stubaby

[golden]

and your call for gold 1k. what are your reasons,besides you have been trading 31 years?
dharma

Simple fib retrace (61.8) from the 2008 low 680ish to the 2010 high 1425ish.

It's just a typical gold shake-out, prior to the next launch higher. (I'm a long-term bull)


Sentiment is at extreme levels, and the blowoff in silver this week was a key tell.

Just take a look at the weekly candle and volume in SLV.

Cheers

[dharma]

and your call for gold 1k. what are your reasons,besides you have been trading 31 years?
dharma

Simple fib retrace (61.8) from the 2008 low 680ish to the 2010 high 1425ish.

It's just a typical gold shake-out, prior to the next launch higher. (I'm a long-term bull)


Sentiment is at extreme levels, and the blowoff in silver this week was a key tell.

Just take a look at the weekly candle and volume in SLV.

Cheers

you and i are long term bulls, its amazing how being bullish can lose one money. this is as stubaby says a normal correction. as next week will show. whats interesting to me is gs called for 1600 gold today and gold tanks! my work clearly shows next week as a reversal. miners still holding previous lows, bouncing off oversold, which happens to be the .382 correction from the lows. in parabolics, and frankly i dont know what the sentiment is-price and time are my guides, sentiment goes to extremes and stays there. take a look @the nasdaq in 99 andn2k. here is the feds schedule for putting money into the markets over the next few days
http://www.newyorkfe...n_schedule.html
i look @this and weep! fraud!!!
dharma

Edited by dharma, 12 November 2010 - 03:44 PM.