w/you stubaby
ahhh another day and bull flesh getting burned
and so begins the battle for 1341. gold is much stronger than the miners
which i have 2 observations about:
1 miners are way undervalued. the hui is @price reflecting gold prices 100lower
2 investors dont understand or appreciate the miners. if last time was any indication @all then these things will run @some point in this bull.
they will be like internet stocks only w/earnings
divergences holding
i am buying selectively
dharma
or miners are leading the way lower? No one knows for sure but it often happens that way, and miners have been weak with a very strong stock market - that's muy malo IMO. And all this is happening with a weak dollar, again muy malo in this amigo's opinion.
BSing away
Senor
SenorBS:
All valid points and duly noted - what would change your mind?
stubaby
amigo I can see both sides here, a $20-30 gold rally from here and I am no longer bearish. I look at the weekly charts and it to my old eyes there is mucho risk to the downside. In Senor's opinion one cannot deny that the price action has not been very good lately. I hope anyone who is long here has a STOP, if you trade or even invest without a stop it is a recipe for disaster. I fear some get too emotionally attached to gold, and I behoove them to have a price point where they say no mas. This is not just for gold, it is for all markets. Best to all, it's not a matter of being right or wrong, we all will have some winners and losers. It's about admitting when things change and you need to recognize that, which is why I keep talking about having a STOP.
BSing away
Senor
bottoming
#31
Posted 21 January 2011 - 02:56 PM
#32
Posted 21 January 2011 - 03:09 PM
w/you stubaby
ahhh another day and bull flesh getting burned
and so begins the battle for 1341. gold is much stronger than the miners
which i have 2 observations about:
1 miners are way undervalued. the hui is @price reflecting gold prices 100lower
2 investors dont understand or appreciate the miners. if last time was any indication @all then these things will run @some point in this bull.
they will be like internet stocks only w/earnings
divergences holding
i am buying selectively
dharma
or miners are leading the way lower? No one knows for sure but it often happens that way, and miners have been weak with a very strong stock market - that's muy malo IMO. And all this is happening with a weak dollar, again muy malo in this amigo's opinion.
BSing away
Senor
SenorBS:
All valid points and duly noted - what would change your mind?
stubaby
amigo I can see both sides here, a $20-30 gold rally from here and I am no longer bearish. I look at the weekly charts and it to my old eyes there is mucho risk to the downside. In Senor's opinion one cannot deny that the price action has not been very good lately. I hope anyone who is long here has a STOP, if you trade or even invest without a stop it is a recipe for disaster. I fear some get too emotionally attached to gold, and I behoove them to have a price point where they say no mas. This is not just for gold, it is for all markets. Best to all, it's not a matter of being right or wrong, we all will have some winners and losers. It's about admitting when things change and you need to recognize that, which is why I keep talking about having a STOP.
BSing away
Senor
SenorBS:
Thanks for your reply - and yes I always use stops - usually at multiple levels. And yes on the weely chart for Gold we have several trendlines below (1,330 and 1,310), that if broken could lead to a deeper reaction. For now corrective looks simular to June-July-August period.
http://stockcharts.com/c-sc/sc?s=$GOLD&p=W&yr=3&mn=0&dy=0&i=p92228012366&a=205151058&r=299.png
stubaby
#33
Posted 21 January 2011 - 05:20 PM
full moon; tempers short around here. you two are fine posters and keep this place sane and well worth reading every day.
dougie:
I agree totally - "Can't we just all get alone"! Life is definately "too short"!
stubaby
Lets just cool it a bit here and now in the present moment in time.
The future is 90% present and 10% vision.
#34
Posted 21 January 2011 - 05:48 PM
#35
Posted 22 January 2011 - 02:13 PM
#36
Posted 23 January 2011 - 10:51 AM
Backtest of breakout on declining volume...
#37
Posted 23 January 2011 - 02:06 PM
Great Charts!
Here's another with simple trendlines:
http://stockcharts.com/c-sc/sc?s=$GOLD&p=D&yr=1&mn=6&dy=0&i=p22744769334&a=184112183&r=3473.png
Monthly cycle chart:
http://stockcharts.com/c-sc/sc?s=$GOLD&p=M&yr=7&mn=0&dy=0&i=p67491394292&a=186863621&r=361.png
Pain before the gain!
stubaby
#38
Posted 23 January 2011 - 02:50 PM
This correction is very similar to consolidation period over the summer.
#39
Posted 23 January 2011 - 03:49 PM
Fantastic charts as usual Stu. Those wedges drawn on chart are interesting.
This correction is very similar to consolidation period over the summer.
Exactly - looks like we might have just a little further to go on the downside - I would like to see the MACD historgram begin a move towards '0' this week, however!
stubaby
#40
Posted 23 January 2011 - 08:02 PM