lots of people i know talking gold
dont remember that for a while
cycle top in view
Started by
dharma
, Jul 17 2011 11:16 AM
222 replies to this topic
#42
senorBS
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Posted 27 July 2011 - 03:13 PM
we are however in a cluster of cycles here and this could be the highs as an inversion: 180degrees from late jan low, 360 form july 210 low, etc...
Looks like gold and silver are topping to me, at least for a while, we see
Senor
#43
diogenes227
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Posted 27 July 2011 - 03:20 PM
we are however in a cluster of cycles here and this could be the highs as an inversion: 180degrees from late jan low, 360 form july 210 low, etc...
Looks like gold and silver are topping to me, at least for a while, we see
Senor
Sure do.
These guys can't make money anymore with the price of gold way up there?
http://stockcharts.c...8839&r=9763.png
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
#44
stubaby
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Posted 27 July 2011 - 03:58 PM
dougie/senor:
Gold drops less than $5, the Miners after a magnificent run-up off of a great divergent bottom where due for a pullback and it's here and it's now OVER!
I will never say NEVER, but geez!
I'm with dharma - time to be adding to positions as this "correction" unfolds.
stubaby
diogenes227: assuming you were speaking with "tongue in cheek" humor
Gold drops less than $5, the Miners after a magnificent run-up off of a great divergent bottom where due for a pullback and it's here and it's now OVER!
I will never say NEVER, but geez!
I'm with dharma - time to be adding to positions as this "correction" unfolds.
stubaby
diogenes227: assuming you were speaking with "tongue in cheek" humor
#45
dougie
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Posted 27 July 2011 - 04:00 PM
3 -6 months highs in here? one or 2 more days up?
#46
dougie
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Posted 27 July 2011 - 04:12 PM
lets see how GDX handles the gap fill, the 200 dma, and the broken dt line in the next 2 days
#47
Psycho
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Posted 27 July 2011 - 08:08 PM
Tag your it. I sold out today. Too much drama. It feels like 2008 all over again. I am way up and want to lock in the rest of my profits. If I am right I may get to buy back in a few weeks once all the smoke settles. If I am wrong so be it. At least I did not bury my head and wish for things to turn like I did in 2008. Then I watched my stocks go down 56% before I acted. Good luck.
#48
stubaby
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Posted 28 July 2011 - 01:31 AM
Tag your it. I sold out today. Too much drama. It feels like 2008 all over again. I am way up and want to lock in the rest of my profits. If I am right I may get to buy back in a few weeks once all the smoke settles. If I am wrong so be it. At least I did not bury my head and wish for things to turn like I did in 2008. Then I watched my stocks go down 56% before I acted. Good luck.
Psycho:
Nothing wrong with stepping aside here - congratulations on your gains!
Nothing worse than sitting as things continue to drop and drop and don't turn - been there - done that. 
stubaby
#49
senorBS
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Posted 28 July 2011 - 07:30 AM
dougie/senor:
Gold drops less than $5, the Miners after a magnificent run-up off of a great divergent bottom where due for a pullback and it's here and it's now OVER!
I will never say NEVER, but geez!
I'm with dharma - time to be adding to positions as this "correction" unfolds.
stubaby
diogenes227: assuming you were speaking with "tongue in cheek" humor
silver is finishing a norte correction from May low and should go below May low in Senor's opinion, that is what I am forecasting, nothing more than that. Senor is confident but nevery cocky, I am long ZSL with a tight stop.
NO BS
Senor
#50
dharma
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Posted 28 July 2011 - 09:36 AM
my battle is w/the markets
in the short term from the recent lows, we have had 3 waves . in wave 4 here. and its the same no matter which index you are looking @xau, hui, gdx, or gdxj. longer term the highs were in december. since then we had an a-b-c, imho which bottomed @the recent bottom. @the april highs only hui made higher highs. so that is my reasoning there
gold @1480 lows shook out a significant portion of the gold community. and its price movement indicates to me we will see higher prices here and now. we are back testing the 1603 support.
silver had a mini parabolic blowoff. which in my experience needs some time to work off. i have been and continue to look @this wave up as corrective. if it makes new highs i will change that view.
taking profits is why we do this.
for my perspective, which is the highs for the 22month cycle will come aug/oct. not in july. that coupled w/3 waves up leads me to believe , we are not there yet. this is a wave 4 here. corrections are part of the process. i am not trading here. i am looking for a surge to finish this wave set and the 22month cycle highs.
10%of rby bought by aem . tough for the majors to keep up their output.
wearing my buy hat and using what the market gives to add to positions.
dharma
Edited by dharma, 28 July 2011 - 09:38 AM.
