cycle top in view
#191
Posted 24 August 2011 - 09:07 PM
Let's "put on a real smack-down"
Metals Options expiration tomorrow coincidence?
#192
Posted 25 August 2011 - 09:48 AM
~ Jesse Livermore in Reminiscences of a Stock Operator by Edwin Lefevre.
armstrong on gold
http://www.10sigma.c... 08-24-2011.pdf
getting quiet. listening. tuning it all out. watching my parameters.
dharma
#193
Posted 25 August 2011 - 09:51 AM
There is the plain fool, who does the wrong thing at all times everywhere, but there is also the Wall Street fool, who thinks he must trade all the time. No man can have adequate reasons for buying or selling stocks daily — or sufficient knowledge to make his play an intelligent play.
~ Jesse Livermore in Reminiscences of a Stock Operator by Edwin Lefevre.
armstrong on gold
http://www.10sigma.c... 08-24-2011.pdf
getting quiet. listening. tuning it all out. watching my parameters.
dharma
Dharma, thanks for the Jesse Livermore quotes. It has reminded me that I need to re-read the book.
#194
Posted 25 August 2011 - 12:00 PM
#195
Posted 25 August 2011 - 01:54 PM
#196
Posted 25 August 2011 - 03:15 PM
options expiration behind us. wonder about the extant of that down move??!
dharma
dharma:
Lot's of technical damage done, but NOT "the knock-out" IMHO. I would prefer a nice steady climb here followed by one more "shakeout" vs a volitile move higher. I am not convienced yet that "this" top is in - but time will tell!
50% FIB off of lateral consolidation:
http://stockcharts.c...01-27&en=(today)&i=p39035234912&a=224136240&r=7973.png
New channel forming?
http://stockcharts.com/c-sc/sc?s=$GOLD&p=D&yr=3&mn=0&dy=0&i=p02844583324&a=232993438&r=4965.png
stubaby
#197
Posted 25 August 2011 - 08:27 PM
#198
Posted 26 August 2011 - 07:01 AM
I am amazed at the day later geniuses that send out dire warnings on gold. Selling against the upper two Angels was obvious. There is no top in gold.
Kenny places the odds at 50/50 that yesterday’s low was the low. He says that if it was not then the low is not far below.
I have never seen such capitulation among people especially in outrageously undervalued gold shares. Pros were dropping dead today. In bullion you had to walk close to the building to be safe from the golden flyers.
I have told you time and time again that gold will be violent in its exponential stage. What you have seen is nothing compared to what is to come. Truth be known, this kitchen is going to get hotter by the day so if you cannot handle the heat sell partially at each Angel until you have cut yourself back to the sleeping well size position.
For heaven’s sake stop barfing into weakness. Stop selling weakness and buying strength. That is a kindergarten type error.
Stop the margin. It will kill you. Stop watching every tick. That is certain to make you crazy.
You will in the future be very sorry you sold down to a sleeping position at Angels, but stopping pain is not an illogical purpose.
Respectfully,
Jim
#199
Posted 26 August 2011 - 10:51 AM
#200
Posted 26 August 2011 - 02:06 PM
Been waiting for this Wave 4 to finish - time to add to XG?
I'm adding here
stubaby
Stu
Thanks for your hard work. We are all grateful to you and Dharma.