189 replies to this topic

[uh'sgirl]

Any TA guys out there on the $..is that a cup n handle forming on the $ from around April 19/20 to now?..with the handle still needing to form?..if so, then we would be in a range probably from 74/75?..just wondering if that's what it looks like to others...I'd post the chart but I still have problems doing it here..Thanks
TM

http://stockcharts.com/h-sc/ui?s=$USD...8&listNum=1

It could be a cup with the handle yet to be formed. It could also be an inverted head and shoulder pattern. Either one would be bullish for the USD.

uh

[JGUITARSLIM]

Gold timers finally throw in the towel

Consider the average recommended gold market exposure among a subset of the gold market timers tracked by the Hulbert Financial Digest (as measured by the Hulbert Gold Newsletter Sentiment Index, or HGNSI). Just a week ago this average stood t 73.7%, one of the highest readings for this index in several years.

Today, in contrast, it stands at just 7.0%.

This sixty-seven percentage-point reduction in a week’s time is impressive, and most definitely enough to get the attention of contrarian analysts.

http://www.marketwat...owel-2011-05-11

[dougie]

i still think a final wave up in this run is open my time frame is monday throughr we d next week for show to begin

[dharma]

today, needs to be the day out here buying this morning on margin! who says they dont ring a bell @the bottom dharma

[johngeorge]

who says they dont ring a bell @the bottom

I love it! Thanks dharma.

[senorBS]

today, needs to be the day
out here buying this morning on margin!
who says they dont ring a bell @the bottom
dharma

or "bells get rung" for those buying here? Senor thinks eventually this decline goes mucho lower, just an old hombre's opinion

Senor

[inamosa]

I believe one will get a chance to buy gold below $1300 and silver below $29 before the fall of this year, Senor. However: From a time perspective, if the current rally off the Jan. lows isn't over, it should end sometime between now and the end of June. Although I very much doubt silver makes new highs between now and the end of June (perhaps a re-test of the low $40s is in order?), gold could still make one more new all-time high above $1575. It is certainly possible and that's what I'm hoping for. For me, I want to see gold break below $1462 before I worry too much about more of a decline than we've seen. If the Dollar Index can make a daily close with conviction above its 50-day SMA, that would also catch my attention. It failed to do that today.

Edited by alysomji, 12 May 2011 - 04:06 PM.

[dougie]

Senor: you are thinking how low? and are you short?

[JGUITARSLIM]

i still think a final wave up in this run is open
my time frame is monday throughr we d next week for show to begin

With you. In bottoming process here.
Was buying this am.

[dharma]

martin armstrong -http://www.martinarmstrong.org/files/So%20You%20Thought%20the%20Sovereign%20Debt%20Crisis%20was%20Over%2005-10-2011.pdf @the end , he has a piece on gold several factors lead me to a conclusion that we are bottoming: in no particular order: JGUITARSLIM's piece on the last page by hulbert. many many issues are oversold and diverging on a daily chart and are @or near their 200dma. what a gift. the gld/gdx , gld/hui, gld/xau are all below even the 08 lows what a gift in the miners. they are cheap. it does not look to me like the top in gold for this leg has taken place volatility has increased the fundamentals have not changed . no sovereign is doing anything to change its course, print away! i mostly agree w/alysomji. the jury is out on the volatile silver and miners as to do they join the new highs party. my cycle work shows a top the end of june. it has not failed me yet. although , usually the cycle starts w/a correction and goes 1/3 to 1/2 way into the cycle , we only started getting the correction last week. however there is still plenty of time for new highs. and after all the market does not have far to go. i too think the summer and fall will be rough on the precious metals, but i have to remain present. silver, repeating myself, is not held by cbs, it is held by guys/gals like you and me. so it is incredibly emotional. gold is less so, and this all can be evidenced on the way up and the way down. i see accumulation underway here and now. big money sees the situation(monetization)and is and has been buying. by the 18th i think the bottom will be in, which happens to be the date hong kong starts trading the precious metals what shape this bottom takes remains to be seen and how long the process occurs also beyond me, but imho it is occurring dharma