194 replies to this topic

[dharma]

the constant testing of 1325, the back and forth action smelled of accumulation. then bingo. some consolidation in this area would not surprise me. w/the factors that i see this month i expect some explosive action. i still think this is bottoming action. more base building. i want to see us break into the next price cycle. 1358 marks the beginning and then taking out 1375 marks the move for higher prices. the world is a tinder box right now. higher food prices the igniter. hopefully you have taken actions in a food storage program. governments like to give the false impression that they are the provider. well dont look now, but most governments are broke and in debt up to their eye balls. being the very cause of the inflation of stuff. gold is money. dollar=credit. sure dollars are assets, but the dollar is not money. it is credit to the government. anyway, i fully expect higher prices into mid march. well placed miners, who are operating w/majors as partners will be taken out along the way frg is a perfect example. nem also went up yesterday, as the market viewed the synergy between the 2 companies positively. diamonds are another area that did well last time. pierre lasssondes company olvrf has done well. i think on the large pullback i see coming, this will present a buying opportunity. stash it away in the core. not investment advice , just my 2c. do your own due dilligence backing and filling . giving the bears a chance to be fodder. eg. support @1325 was worked , reworked and worked again until liftoff was inevitable. maybe more of the same here. cnbc had guys who had missed the whole bull , stating reasons why gold is a sell. not alot of patience will be required here. february is explosive. dharma

[stubaby]

dharma: Don't think you'll have to wait long for 1,358 to be recaptured! stubaby

[senorBS]

miners on day's low, if they close at lows that will be a muy malo day BSing away Senor

[dougie]

why senor? after a nice 8-10% rise off the lows a lil profit taking should not surprise on a friday put in a nice right shoulder of a H7s bottom perhpas?

[senorBS]

why senor? after a nice 8-10% rise off the lows a lil profit taking should not surprise on a friday
put in a nice right shoulder of a H7s bottom perhpas?

so because it rallies 8-10% off a low it's a bottom? Hmmm, maybe it is but I'm not impressed and I'll let you think that way.

Senor

[dougie]

it is "perhaps" a bottom. my question was, why would a close on the lows after a big rally indicate trouble? what would impress you?

[stubaby]

SenorBS:

A retest of the lows or lower lows are certainly possible here - but odds are now that a bottom is in or forming - here. I am an IT trader and like to accumulate around turning points and use stop-losses (in case I'm wrong).

http://stockcharts.c...79733&r=438.png

http://stockcharts.c...6571&r=9006.png

One step at a time daily on buy signal - weekly "in buy range" - so far so good!


stubaby

[jjc]

FWIW: There have been raids on gold, silver and (of all things) municpal bonds synchronized around a 21 day cycle. The next 21 day
cycle low occurs on or around 2/18/11. The sychronous behavior is uncanny - (the raids correspond to big sellers showing up in the
time and sales on the comex with lots of big transactions occuring on the offer). Following these raids have been very good buying
opportunities for short term trades.

The cycle signal has been so strong, I have to believe it is contrived (or supported) by large players, the cycle will not disappear, for at the
very least, a few more cycles although it may be seriously attenuated.

There are some charts of my past post on the topic here:
http://anyoldnameblog.blogspot.com/

If anyone is interested in seeing a chart respond and I'll take the time to post, otherwise I think what I have described can be
investigated pretty easily.

cheers

[senorBS]

it is "perhaps" a bottom. my question was, why would a close on the lows after a big rally indicate trouble?
what would impress you?

cause up to this point the rally looks corrective to Senor

NO BS

Senor

[johngeorge]

From Parker (Position Sizing) Feb 5th

"I think Gold will correct, perhaps to the 1225-1250 range. Old tops become support, and we have some old tops in that range. Plus, the 60-week moving average has historically served as support, and it's already at 1233.

After the correction, I would not be surprised to see gold have another bull run into ~May. Seasonally, gold often makes important tops in the Spring. See March 2008, May 2006."

CHEESEHEADS RULE GO PACK!

Edited by johngeorge, 06 February 2011 - 11:41 AM.