222 replies to this topic

[stubaby]

As a short-term hedge - added DUST at the open today, FWIW:

http://stockcharts.c...16788&r=124.png

Stop-loss now at breakeven.


stubaby

[stubaby]

i studied edwards and magee. h&s patterns are significant and generally take months to construct. they signal a fight between the bulls and bears .
on the hourly gdx there is a minor looking inverse h&s being constructed. in the true technical sense its not a h&s pattern. but, could indicate a bottoming process.
i use seasonal charts as a guide. http://www.seasonalc...ssics_gold.html. we are in a difficult stretch here on the seasonal charts. my feeling is this cycle gets compressed w/ a run from november to a december top. based on the short cycle. surprises in bull markets are to the upside. the crises continues to unfold and accelerate. in many countries it started as a ground swell that led to the overthrow of the government . egypt comes to mind. here in the usa , we have the wall street protesters, which has spread nationally. these kinds of movements can grow and cause changes. its something i have my eye on. folks are out of work and in many cases have lost their house. and in addition something like23% of mortgages are underwater. the situation is ripe for a change.
this morning aem is getting clobbered. this is a major and is approaching its 89mo ma. it will be a good buy shortly. do your own dd
the market appears to be in wait mode. so am i
dharma

dharma:


http://stockcharts.c...9784&r=5438.png

Could we see that bottom trendline?
http://stockcharts.c...9782&r=6924.png

Don't make any mistakes or missteps in the mining business OR.....


stubaby

[dharma]

this is the crux of the matter. print they will
http://kingworldnews...Gone_Rogue.html
i can wait
dharma

[dougie]

positive divergences forming in GDX ST

[dharma]

yes, sir
gdx and hui have divergences from oversold. approaching the .618 corrections
gold has not made lower lows than yesterday, so far another divergence
gdxj has not made lower lows , while gdx and hui have.
if some of this or all of this holds up we are setting up here.
dharma

sprott interviewed by casey research
http://www.caseyrese...rott-securities

Edited by dharma, 19 October 2011 - 02:38 PM.

[stubaby]

If you were waiting for a buying opportunity in the Miners - this is about as good as it gets! Wave 2 appears to end at 505.70 on HUI with this am's spike down - If Wave 3 = Wave 1 should head towards 580 here. If Wave 3 = 1.618 X Wave 1 target is 625. stubaby

[dharma]

here is what i see the ecb announces this am ,they are buying sovereign debt directly(this =printing, monetizing the debt) and gold is down. something doesnt compute here. as a result of the chicanery the bulk of the worlds gold will be in the hands of india and china , they are not fooled by this , they continue their aggressive buy programs in addition to everything i said yesterday afternoon, we have daily divergences developing now in those same vehicles. all the while , the gold community is demoralized. gold is above 1600 and folks are racked w/losses. in a bull market one buys weakness(like now where there are divergences from oversold) and sells strength. that is the drill repeated over and over again until we hit the parabolic, where it is basically a one way up rocket ride. until then, its the drill . having your largest position @1900 gold is not the way to go. this is an emotional sector to begin w/. dharma

[stubaby]

http://stockcharts.com/c-sc/sc?s=$HUI&p=5&yr=0&mn=0&dy=14&i=p69645552181&a=245659732&r=734.png

[dougie]

THANKS STU
on the daily
76 % fibo retrace off the last lows
macd crossing down though, not oversold at all, gold in the tank, relative weakness, very weak rsi action,

If you were waiting for a buying opportunity in the Miners - this is about as good as it gets!

Wave 2 appears to end at 505.70 on HUI with this am's spike down - If Wave 3 = Wave 1 should head towards 580 here. If Wave 3 = 1.618 X Wave 1 target is 625.

stubaby

Edited by dougie, 20 October 2011 - 10:04 AM.

[dougie]

meanwhile USD at support, SPX at resistance, VIX at support, SSEC losing support, gold: silver at support not inflationary picture