285 replies to this topic

[tradermama]

setting up for a bounce
dharma
trading will not be easy and surprises will be more common. the fed, imf, and ecb will be forced to act. the longer the delay, the more the loss of confidence and the larger the dose(monetization) necessary .
dharma

Completely agree with you..that's why I plan on cost averaging into it..
TM

[dharma]

picking up money from trading is nice! it will be picking up nickels and dimes in front of a steamroller when the parabolic hits for me my whole focus is being on board when the parabolic hits. dharma

[rooster]

picking up money from trading is nice!
it will be picking up nickels and dimes in front of a steamroller when the parabolic hits
for me my whole focus is being on board when the parabolic hits.
dharma

Dharma, Did you read the Alf Fields speach? I don't understand a lot of EW, but are you in agreement with him that the next leg up is a Wave 3, The strongest wave?

[dharma]

picking up money from trading is nice!
it will be picking up nickels and dimes in front of a steamroller when the parabolic hits
for me my whole focus is being on board when the parabolic hits.
dharma

Dharma, Did you read the Alf Fields speach? I don't understand a lot of EW, but are you in agreement with him that the next leg up is a Wave 3, The strongest wave?

yes, i think the wave of recognition is next. either the low is in -1530 or not. its one of those times where waiting is the name of the game. if its not in. then another buying opportunity awaits
dharma

[dharma]

stuttering dharma

Edited by dharma, 18 November 2011 - 03:57 PM.

[rooster]

picking up money from trading is nice!
it will be picking up nickels and dimes in front of a steamroller when the parabolic hits
for me my whole focus is being on board when the parabolic hits.
dharma

Dharma, Did you read the Alf Fields speach? I don't understand a lot of EW, but are you in agreement with him that the next leg up is a Wave 3, The strongest wave?

yes, i think the wave of recognition is next. either the low is in -1530 or not. its one of those times where waiting is the name of the game. if its not in. then another buying opportunity awaits
dharma

Thanks, it does seem like a time to watch and wait. I subscribe to Hoye/Clark. Ross had some charts yesterday. 3 scenarios, 2 of them call for a gold pullback to around $1500, same as what Alf says we may need to go to again. Neither mention what the HUI will go down to. I just hope when we do start that Wave 3 the gold stocks will finally start to outperform the market.

I think it is a mater of time before gold is looked at as money. It's starting now with ECB asking Germany to put up some of their gold to back the bonds.

[tria]

setting up for a bounce
dharma
trading will not be easy and surprises will be more common. the fed, imf, and ecb will be forced to act. the longer the delay, the more the loss of confidence and the larger the dose(monetization) necessary .
dharma

No problem for me, if so it goes. The "core" is untouchable.
For reloading my small trading position, however, I need time and price conflunce.
I wish and hope you are right but I should be prepared in case the PM's might give us a pre-Christmas present/drop.

Nice weekend to all the Gold posters
tria

[tradermama]

setting up for a bounce
dharma
trading will not be easy and surprises will be more common. the fed, imf, and ecb will be forced to act. the longer the delay, the more the loss of confidence and the larger the dose(monetization) necessary .
dharma

No problem for me, if so it goes. The "core" is untouchable.
For reloading my small trading position, however, I need time and price conflunce.
I wish and hope you are right but I should be prepared in case the PM's might give us a pre-Christmas present/drop.

Nice weekend to all the Gold posters
tria

Tria,
the NYSE BULLISH PERCENT did get a confirmation yesterday as we now have reverse to O which means more selling than buying taking over and the short term trend at least is down for the equities. Again, this is about supply/demand..nothing to do with moving averages or volume. As Dorsey describes it as a football game..defense is on the field now. Personally, like I mentioned before I do think gold/silver will have still some pressure for another couple of weeks or so...and like you ..nothing comes between me and my core holding!...but when you get these sells triggered..I only wait for the buy setups..never shorting it.

I still think the low is in but it could get tested if the market has a big sell off...if not, then perhaps between 1600-1700 area..that's why i'll cost average as i see the consolidation go on. And to be clear, the NYSE BULLISH PERCENT has nothing to do with gold...because it's possible for gold to rally and this still be on defense. So far, unless gold hits 1760 it will stay on a sell..but if i get one of those alerts for a reversal whether it is a counter trend or going for a buy, I'll let the thread know...those "last sale alerts up or down"..seem to work within a couple of days..sometimes the next day. That's when I"ll start cost averaging unless it hits 1760 first. And the buy signal can change if we do some up and down action too. Oil had one of those alerts Thursday...Last sale alert down..and it just reversed to O but still on a buy signal till it hits $89.

Silver had a sell signal Thursday and it's price target is 27.50..which may or may not get there..but that is the buy you want imo..and around Dec 9th should be a low coming in for silver ...but i'll be accumulating silver under 30 as I see fit..or depending how oversold it gets even around 30..I do feel the low is in for silver too..and the next low is a great opportunity for silver...and gold..
TM

[tradermama]

Mercury retrograde begins next week 11/24-12/13....among a lot of crazy astro stuff..including new moon with a solar eclipse....so some short term reversal should happen especially seeing it is Thanksgiving and typically that is a bullish time. With Mercury retrograde, rallies last 1-4 days. I always enjoy reading Merriman's column and as he points out, seems like every time we have some kind of important decisions to make with our government, it is during a Mercury retro period. Mercury retro is a period you want to be careful of all kinds of communication as there are a lot of misunderstandings, computer break downs..and if you must sign a contract, you better check it carefully...in other words, not a good time for signing contracts and making important decisions. You can read more from Merriman if you are interested here.

http://www.mmacycles...ember-21,-2011/

For those who dont know much about astrology, when he speaks about Sagittarius it's a sign of exaggeration...so seeing we just got our sell signals and for me, an important one on Point and Figure, my buck is for us to go down in equities after perhaps some reversal to alleviate the oversold conditions...sell the rallies...for now.

TM

[johngeorge]

For the GDX traders out there you can find a chart here that gives daily (end of day) buy/sell signals when the blue line crosses the green/red line. Yes, you can be whipsawed. I have used it in the past with worthwhile success, but, am no longer trading. I have my positions and simply add to them when I see an opportunity.

Good trading.