179 replies to this topic

[dharma]

You may want to read it too:
"What will drive prices down?

BC: The market's been going really well for two full years. Most people in this industry recognize their chances of success really aren't that good. The smart money has been pulling out; and if the bigger markets fall off the way, and it looks like they will, it's going to really hit the riskier side of the sector— junior miners. But if Rick and I are right about the longer-term outlook for metals getting into potential economic discoveries on the cheap, it sounds quite good."

of course in a crash it all goes down
cooler heads
http://kingworldnews...old_Stocks.html
lassonde.
i have been nibbling all day. almost all in
dharma

[dharma]

lows right into the solstice and now above 1549. quite a bullish set up i see 2 possibilities 1- the move from the december highs in the miners was an a-b(end of april highs) -c . which just ended. now a new leg 2- this up move is just a correction and will end into my cycle highs around july 9th. until i see something to change my mind, i am leaning towards 2. but, there are so many explosive situations out there, i want to be open to all the possibilities. i am not quite all in. some issues i could not resist. it would not surprise me in the least if gold made new highs. do not let the banksters snake you out of your positions. remember the banksters are the ultimate long in the game. they will continually paint deceptive pictures. @the bottom they were all too proud to announce the dumping of their gold. gordon brown even got elected pm after dumping englands gold @252. in the end when all the fiats are butt naked , gold will be the only game in town. to gain the confidence of the public, the currency will need to be backed by something and it will. for now we are in a normal bull market. i dont know when the parabolic will hit. nor do i care. its all , @this point just an exercise in buying weakness , selling strength. recently silver looked like it could blast into orbit. while the miners looked like [bleeeep]. the sector has yet to express itself. 4-5 more years is my guess. as an aside the whole middle east is a powder keg, setting up for a possible conflict. the last domino will be the saudis. if you bought into the suv craze dont wait too long to sell that gas guzzler, it will be worth scrap @some point dharma

[dharma]

the board is dead! have all of you been snaked out of your positions? did anyone buy the 20% sale in the miners remember that the markets are the playgrounds of the rich. they are artists who paint pictures in the hopes of separating you from your positions and your money. the key is remember the primary trend. i have no idea what events will occur , there sure are alot of potential catalysts out there. history is the key , no fiat currency has ever prevailed sure my account suffers drawdowns its part of trading. its part of investing and in this sector the drawdowns are larger. the drill is simple buy weakness , sell strength i chart the gld/gdx, gld/hui, gld/xau and this is the 2nd lowest reading in this bull market. all the indexes have daily divergences. hopefully some of you were alert. "That men do not learn very much from the lessons of history is the most important of all the lessons that history has to teach.” – Aldous Huxley, Collected Essays dharma

[rooster]

the board is dead!
have all of you been snaked out of your positions?
did anyone buy the 20% sale in the miners
remember that the markets are the playgrounds of the rich. they are artists who paint pictures in the hopes of separating you from your positions and your money.
the key is remember the primary trend. i have no idea what events will occur , there sure are alot of potential catalysts out there.
history is the key , no fiat currency has ever prevailed
sure my account suffers drawdowns its part of trading. its part of investing and in this sector the drawdowns are larger.
the drill is simple buy weakness , sell strength
i chart the gld/gdx, gld/hui, gld/xau and this is the 2nd lowest reading in this bull market.
all the indexes have daily divergences.
hopefully some of you were alert.
"That men do not learn very much from the lessons of history is the most important of all the lessons that history has to teach.”
– Aldous Huxley,
Collected Essays
dharma

Well I'm, learning from you Dharma. I actually bought very near the lows last week, usually I'm selling near the lows. Since I don't pick stocks well I've decided for my trading positiion just to use XGD. So far its working out very well. Thank you for all your input.

[stubaby]

dharma:

The real question for me is: Was the a-b-c that just ended (and with today's follow-thru - no doubt in my mind it ended) Wave A of a larger A-B-C, with Wave B now and Wave C to follow (this is the conventional thinking here, as the normal seasonal lows are August-September) or did we just have our seasonal low early and are starting a new impulse wave higher?

The key will be when this up-move runs it's course and we enter the next corrective phase to identify the correction as Wave C or just Wave 2 of 1! Note: Back to my maximum allocation to the miners here and stopped out on all protective hedges

http://stockcharts.c...26235&r=418.png

stubaby

[dougie]

should have a pullback here for a day or two

[dharma]

yesterday was a clue, the markets inability to hold above 1549 on a closing basis. tells me 1-sellers are defending this area 2- if support does not hold, the last low, then we are going to have a major correction 3-a tr will develop i am leaning towards the full correction. its a time for caution, and protecting oneself crude taking out its last low to me is a warning the grains are not faring well either. and last but not least , the broads are swooning. when and if the broads correct , nothing will hold up, is my experience. i made that mistake in 87, not going to happen to me again dharma

[stubaby]

yesterday was a clue, the markets inability to hold above 1549 on a closing basis. tells me
1-sellers are defending this area
2- if support does not hold, the last low, then we are going to have a major correction
3-a tr will develop
i am leaning towards the full correction.
its a time for caution, and protecting oneself
crude taking out its last low to me is a warning
the grains are not faring well either.
and last but not least , the broads are swooning.
when and if the broads correct , nothing will hold up, is my experience. i made that mistake in 87, not going to happen to me again
dharma

dharma:

Too early to tell:

Negatives/Positives
Broads in sell-off - Final Wave 5 of C Wave 4 corrective ending with Final Wave 5 UP just ahead (1,380 to 1,400)
Gold & Silver breaking down thru some key short-term levels ONLY
Crude now in Wave C of ABC correction - then on to new highs $125+
Ags continue down in 3 of 3 ending now with 4-5 and 4-5 to go to complete "handle" on monthly chart
Miners bottomed on 5/19 followed by an impulsive Wave Up - Now in Sharp Wave 2 Corrective ending here
Miners relative to Gold holding above prior lows
Individual issues - "relative performance" holding here

I am following my plan and BUYING today's weakness in selective issues.

stubaby

[dougie]

now we should move up in a C up (or one more day of weakness)

[dougie]

maybe monday st bottom in gold; options games