miners up 3% yesterday. too tough to call in here. the dollar action is sound and fury, until it breaks the lows. nothing to see here move along. yearly cycle on gold , low due by feb8th . until then , back and forth action would be my guess. in the long term, those who have the gold make the rules.
watching the :
wti/brent spread. usually just the cost of shipping $10 is way blown out
watching the bonds , after 30 years of bull, topping pattern in progress- this is big , bonds are far and away the largest market
watching the grains continue their assault on higher ground.
the prechterites of the world have been wrong for decades.
bottoming action in the metals.
-5f outside right now!
dharma
bottoming
Started by
dharma
, Jan 19 2011 11:01 AM
194 replies to this topic
#152
johngeorge
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Posted 02 February 2011 - 12:13 PM
watching the bonds , after 30 years of bull, topping pattern in progress- this is big , bonds are far and away the largest market
watching the grains continue their assault on higher ground.
dharma
Bonds really have been pounded. TLT weekly chart indicates to me we may have a short term bounce coming @ ~ 90. Next stop down looks like 84.
The dollar appears to want to make a short term bounce in here which would give, IMO, a nudge higher for bonds. Will see.
Best to you.
PS Gold rulz!!! Maybe I take a trip to the coin dealer today
. Still watching the 200 sma on HUI
Edited by johngeorge, 02 February 2011 - 12:14 PM.
Peace
johngeorge
johngeorge
#153
dougie
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Posted 02 February 2011 - 12:21 PM
ugly action here but still could go either way
#154
dharma
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Posted 02 February 2011 - 12:31 PM
now, i am leaning towards one more low.
this doesnt look constructive to the bull cause
just my 2c
dharma
#155
dougie
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Posted 02 February 2011 - 01:17 PM
this on the other hand is not bearish looking to my eye,
http://stockcharts.com/h-sc/ui?s=$HUI...id=p31754795862
http://stockcharts.com/h-sc/ui?s=$HUI...id=p31754795862
#156
dharma
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Posted 02 February 2011 - 01:21 PM
agree , but the hourly action doesnt look constructivethis on the other hand is not bearish looking to my eye,
http://stockcharts.com/h-sc/ui?s=$HUI...id=p31754795862
i am not a trader in here. bh. so, it matters little to me as long as the outcome is higher highs
dharma
#157
inamosa
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Posted 02 February 2011 - 01:21 PM
New moon tomorrow may line up with a change in direction.
If another leg down does occur (to $1265-90), I wouldn't worry about it. Fact of the matter is that we don't know if it will take place and it's not much lower than the current price ($1330) anyway.
I'm confident gold will be making new highs and then some just several weeks from now, as the Dollar continues to collapse. The reward:risk in precious metals right now is, therefore, very good, IMHO.
"Our job is not to predict where the market will go, but to interpret daily price and volume action to ascertain the facts of the current environment and make decisions based on that interpretation."
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months
#158
johngeorge
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Posted 02 February 2011 - 01:49 PM
alysomji
I could not agree more.
Longer term PM's are a slam dunk.
Best to you.
The reward:risk in precious metals right now is, therefore, very good, IMHO.
I could not agree more.
Longer term PM's are a slam dunk. Best to you.
Peace
johngeorge
johngeorge
#159
JGUITARSLIM
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Posted 02 February 2011 - 02:40 PM
Here's a look at the daily using MACD. Few points...
1) 8% correction from high (all-time highs). Nothing out of the ordinary.
2) 150D moving average has held over past 2 years
3) Last few times MACD got this oversold are marked, with subsequent rally percentages
4) MACD most oversold in 2 years & starting to curl up here
Using 20% as average, this coming rally should take Gold up to the $1600 area.
1) 8% correction from high (all-time highs). Nothing out of the ordinary.
2) 150D moving average has held over past 2 years
3) Last few times MACD got this oversold are marked, with subsequent rally percentages
4) MACD most oversold in 2 years & starting to curl up here
Using 20% as average, this coming rally should take Gold up to the $1600 area.
Edited by JGUITARSLIM, 02 February 2011 - 02:41 PM.
#160
dharma
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Posted 02 February 2011 - 02:50 PM
New moon tomorrow may line up with a change in direction.
If another leg down does occur (to $1265-90), I wouldn't worry about it. Fact of the matter is that we don't know if it will take place and it's not much lower than the current price ($1330) anyway.
I'm confident gold will be making new highs and then some just several weeks from now, as the Dollar continues to collapse. The reward:risk in precious metals right now is, therefore, very good, IMHO.
yes, i am w/you. we are days away if not there on this low. splitting hairs is not the road to riches. i cant begin to tell you how many times the last low didnt come. its a lesson i learned over and over. watching the train leave the station. its why i go in , in areas .
what amazes me as how fast folks forget that its a 10year bull market. and how fast they abandon the ship. of course @the top most will be bag holders
the astro events that line up over the next month are gold friendly.
dharma
i think jesse was right the most difficult concept to grasp is the buy and hold. and in the next phase it will be critical as volatility gets expressed
