285 replies to this topic

[johngeorge]

Zero Hedge Reports: Eurozone Contagion Deepens After Disastrous German Auction; Silver Supply Issues

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"Gold will be supported at these levels as the euro zone debt crisis continues to degenerate with the periphery increasingly affecting the core – leading to contagion.

The bond auction in Germany is a disaster. If Germany has to buy its own bonds, it is frightening to think how other European nations, including France, will fare at bond auctions in the coming weeks.

Gold remains possibly the most under-owned asset in the world, and definitely the most infrequently and poorly covered in the mainstream media.

The specialist financial press and media (FT, Bloomberg, Reuters, WSJ, CNBC, Dow Jones etc.) covers gold, but the mainstream media continues to report on gold sporadically at best. When the mainstream media does cover gold it is covered badly with poor analysis and a continuing simplistic suggestion that "gold is a bubble". It fails to comprehensively cover the gold market.

The vast majority of investors and savers in the western world have no allocation to gold whatsoever and know little or nothing about gold.

Daytime TV and the popular press and media almost never have segments about how to invest in, or own gold.

The western public is not familiar with the gold market, let alone familiar with how to invest in or own gold bullion, gold coins or gold bars. This leads to a large number of the public who don't trust what they are not familiar with, or what they simply do not understand.

The 'woman and man in the street' in much of the western world continues to sell gold as seen in the 'cash for gold' phenomenon. This is in marked contrast to the Chinese and Indian public that has been aggressively buying bullion as a store of value.

Inquiries and sales from the general public remain anemic and there has been only a very slight pick up in demand from the public - despite the real deterioration in the outlook for the Eurozone, the US and the global economy."

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[johngeorge]

Great explanation of the Fed's and Treasury's problems and shenanigans: KWN: Jim Rickards - Who Will Bail Out the Fed & How High for Gold?

[dharma]

fwiw , i am thinking that friday is a low, which produces a rally which fails and the low comes in 12/8. can this be nonsense, you bet. the low could be friday or anytime.. i am thinking the deathzone ocmes in @1603 and will stop the decline. i have thought for some time that 12 produces a low which is lower than 11 , so gold may go into a longer period of correction. now , it doesnt have to work that way. but until proven otherwise i will be operating on this premise. since early 09 there has not been much in the way of corrections. now dont get me wrong, there has been many corrections , but they have not been deep or time consuming. so the 6 or 7 gold bulls have had a comfortable ride. gold is still an under owned asset. folks still feel safe w/their accounts , inspite of the operations @mf global. we have along ways to go. the awakening is coming. ken and traderama i have only taught one person ganns price cycle technique. however one thing worth watching is squares of #s eg . 42x42=1764 that is why that #is a significant pivot. all the squares of #s are significant. its not only gann , but livermore discovered this as well. #s have power, they are like the different phases of the moon , pulling and pushing the price. the simpler the techniques the better, they are always overlooked 40x40=1600 another important pivot. play around it will surprise you i dont know how much i will be posting over the next several days. happy thanksgiving to all dharma

[dharma]

the day after the binge, i didnt overeat this year. however, the day after thanksgiving , has a high%of up for the broads. i laid out what i think will be the roadmap on the post above. dharma

[stubaby]

the day after the binge, i didnt overeat this year. however, the day after thanksgiving , has a high%of up for the broads. i laid out what i think will be the roadmap on the post above.
dharma

dharma:

These monthly GDX & HUI charts indicate the importance of this time period in the "big picture"!

http://stockcharts.c...87821&r=447.png

http://stockcharts.com/c-sc/sc?s=$HUI&p=M&yr=12&mn=11&dy=28&i=p20884559862&a=246837651&r=599.png

Regardless of all the short-term gyrations and painful pullbacks - after this low we should have another multi-year run in the miners!

stubaby

[stubaby]

dharma:

As for the Juniors we have a bullish declining wedge to complete A-B-C - should be explosive move higher once this pattern completes:

http://stockcharts.c...47840&r=776.png

http://stockcharts.c...4427&r=8501.png

stubaby

[stubaby]

dharma:

Off to the Beach! One last chart:

http://stockcharts.c...6870&r=1215.png


stubaby

[dharma]

dharma:

Off to the Beach! One last chart:

http://stockcharts.c...6870&r=1215.png


stubaby

ahhhh the beach, i came down to denver area@5l '
that last chart is more the story for me put some near parallel lines showing support and resistance.and you have a trading range on the mining indexes. and its a year or so in length. and then you have the story for what we are in store for.
breakout of a big base.
dharma

[dharma]

well the rhetoric is high this morning. everything across the pond has been resolved. hardly. now , i wait to see if my work coincides w/the market. this rally should fail and bottom on the 8th of december. i will be a buyer @some point below fridays low. between a rock and a hard place, they will print. but, it will be a while. i want to deal w/the new highs that i see coming, and then take it from there , should it play out that way. keep an eye on pakistan. jimmy mentioned pakistan some years back, i can now see it will be problematic dharma

[dougie]

STU: you see one more down wave 5 in GLD but the miners low may be in per your count?