66 replies to this topic

[johngeorge]

You may be right dharma...every now and then, the bull throws me a curve ball, after all. But, that's part of the reason I keep a core position - as opposed to the nonsensical idea of leaving the secular bull market altogether and merely hoping for a correction. I don't know where some of the posters here got the latter idea from (obviously not you, I, stu, JGS, JG, etc.)...quite sad, really.

Personally, I think the miners look like they could use a breather here. Take a look at a chart of SLW and compare it to its 200-day MA, for example. If these things are going to go parabolic they need to get some rest because some of the miners already look parabolic. Also, I believe the parabolic top you speak of will not come in Feb. but rather closer to the Apr/May/Jun timeframe. I know the seasonal trend is for a top in Feb. and I know that gold is famous for tops in Feb., but I don't see it happening this time. One of the reasons is that I think it will need to move higher past Feb. to really bring the public in.

But, if gold is going to do as you predict, then in the coming days and weeks I would expect it to hold (not significantly pierce) $1350 on the downside and it should break above $1420 on the upside (followed by new highs).

obviously, you have been around the block. i operate under the premise that 85% of the people who put money in the market lose it. its why its so important to make a killing in bull/bear markets where they are crystal clear. after all, earlier this week gold/silver made new forever highs. corrections are a healthy part of the process.
1360=the 50day ma
1358 in my work is the death zone for this price cycle . hitting 1370 yesterday showed me strength , just past 1375 support. not doing anything in here.
watching and waiting
dharma

alysomji and dharma

I have a bid in for MNEAF about 40cents below latest quote. Just fishing on that one as I already have a position in it. Maybe pick up some Silver Eagles this afternoon. Also will be adding to my core position in TGLDX the middle of this month. Other than that I too am in watchful waiting.

Best to you.

[dharma]

here we are w/another test of the recent lows. i am sitting and watching. all the sound and fury signifying nothing. of course there are those spouting stuff they dont know or understand. i am keenly watching the old long in the tooth bond market. after 30 years , the public has discovered this supposedly safe haven. it is in a topping process. which is significant . bonds are the largest market and when they turn , the money will go somewhere. in the short term the bear flag could have completed this am. too early to say. i am on the prowl for unappreciated juniors. olvrf continues to impress and thanks to a board member alerting me to this one awhile back pzg is soaring this am. this is the phase where juniors lead . next wave it will be the big boys leading and gobbling up the juniors dharma

[stubaby]

here we are w/another test of the recent lows. i am sitting and watching. all the sound and fury signifying nothing. of course there are those spouting stuff they dont know or understand. i am keenly watching the old long in the tooth bond market. after 30 years , the public has discovered this supposedly safe haven. it is in a topping process. which is significant . bonds are the largest market and when they turn , the money will go somewhere.
in the short term the bear flag could have completed this am. too early to say. i am on the prowl for unappreciated juniors. olvrf continues to impress and thanks to a board member alerting me to this one awhile back pzg is soaring this am. this is the phase where juniors lead . next wave it will be the big boys leading and gobbling up the juniors
dharma

dharma:

I hate corrections: don't know how far they will go (ST or IT), your accounts 'drawdown', "old" rules try to enter your psyche

I love corrections: individual issues find support levels and reverse-showing their strength, individual issues lose support levels-showing their weakness, 'late-comers' and/or 'weak hands' leave the party, allows BULL markets to continue

Individual issues are percolating today: kmkgf, mgh, nak, pzg, rgld
Corrections in others after big moves or breakouts are orderly: chpgf, coluf, exgmf, exk, frmsf, fvitf, mneaf, ng, okoff, rby, sgrcf, and sspxf

stubaby

[dharma]

of course i dont know , but my leaning,based on my work, lead me to believe we blast off soon very soon. 1392 and 1409 are the #s that the market will work off. w/the round # providing the magnet. yesterday , was a day that i would like to forget as i ate some bad food and spent the day hugging the toilet. anyway, today is a new day and i started it off by buying tlr. i liked the monthly chart. the crises appears to me to be getting worse not better. i suspect, as i have pointed out that the long in the tooth, 30 year bond bull is breathing his last. tops can be rounded and take time. i suspect that the money from bonds finds its way into stocks among other investments. as much as everyone is hoping for china's implosion, i dont see it happening. dharma

[johngeorge]

dharma "i suspect that the money from bonds finds its way into stocks among other investments." I couldn't agree more. Muni bonds already showing deterioration with the potential for the Build America Bond program to expire. Stocks should remain a good place to be what with Blackhawk Ben and cronies doing what they are. I suspect they are capable of keeping it going longer than most people think. Which, of course, makes PM's an excellent place to be. "as much as everyone is hoping for china's implosion, i dont see it happening." I do, but, not for at least 10 years or more. China has a myriad of internal problems that will eventually surface and take its toll. Looks like a nice battle this am with gold bumping up against $1400 and silver reaching for $30 again. Best to you.

[dharma]

as the crowd screams double top, head and shoulders top, gold continues to build a bullish structure. here we are @another fomc meeting. gold spent the night over 1400 only to get dunked in the am. wearing my glasses, i see this as building high level base for the next launch. china's peg to the dollar is causing them to have inflation. i have one eye glued on the bonds, and they continue to show a topping pattern. bonds are far and away the largest market. i continue to pour over junior charts trying to find gems among the weeds. dharma

[dougie]

bonds demise initially bad or good for golg?

[johngeorge]

dharma I am now fully invested in PM's. Bought UXG this am. Time for me to just sit back and watch the action. Best to you.

[johngeorge]

Regarding Bonds: US Treasury Bloodbath Is Back: 30 Year Passes 4.50%, As 10 Year Prepares To Take Out 3.40%

[stubaby]

dharma

I am now fully invested in PM's. Bought UXG this am. Time for me to just sit back and watch the action.

Best to you.

johngeorge:

Good bet on management!

http://stockcharts.c...67496&r=728.png

http://stockcharts.c...67829&r=545.png

http://stockcharts.c...7122&r=9630.png

stubaby