285 replies to this topic

[dougie]

so far this upmove in GDX might be all part of a flag.
http://stockcharts.c...amp;a=241707419

missed adding gold this am by a bit: the problem with TRADING

[dharma]

i dont see that, but what i do see is the last options expiration was 9/27 and it was a slaughter. tomorrow is options expiration, and it may have the same result. be careful. tomorrow could bring a correction. keep your powder dry, and lets see what tomorrow brings dharma

[dharma]

by the way this is a breakout for gold dharma

[dharma]

we are up almost 200 on gold, from the lows @1530 and it is very quiet around here. the europeans have yet to issue an announcement . i have no idea what will happen here, but @some point they will print. as will the usa. of course it is not the right course of action. the system needs to be cleaned out. we survived a depression before , we can survive one again. it is much more difficult to survive financially in hyperinflation.
today is also the new moon. i am doing nothing. but, mentally i am cautious in here. we busted above the overhead resistance yesterday. i am watching 1764 as a point to key off . above it we run.
i am sitting w/ a stable of explorers , who are behind the woodshed. yesterday rick rule gave this account. i love the headlines
rick rule
http://kingworldnews...a_to_Begin.html
the day is young , i expect some twists and turns.
in the past 20 gold moves meant something. we have had a 200 gold move and not even yawns around here.
dharma

[johngeorge]

we are up almost 200 on gold, from the lows @1530 and it is very quiet around here. the europeans have yet to issue an announcement . i have no idea what will happen here, but @some point they will print. as will the usa. of course it is not the right course of action. the system needs to be cleaned out. we survived a depression before , we can survive one again. it is much more difficult to survive financially in hyperinflation.
today is also the new moon. i am doing nothing. but, mentally i am cautious in here. we busted above the overhead resistance yesterday. i am watching 1764 as a point to key off . above it we run.
i am sitting w/ a stable of explorers , who are behind the woodshed. yesterday rick rule gave this account. i love the headlines
rick rule
http://kingworldnews...a_to_Begin.html
the day is young , i expect some twists and turns.
in the past 20 gold moves meant something. we have had a 200 gold move and not even yawns around here.
dharma

Watching

Yes, I read Rick Rule's interview yesterday and I heard what I wanted to hear.

Thanks for the thread and commentary. I am sitting, no trading. Perhaps the move yesterday in gold was in anticipation of Blackhawk Ben's QE3?

Best to you.

[dharma]

found this encouraging Insider Buying In Gold Miners Highest Since Lows Of 2008 INSIDER BUYING AT HIGHEST LEVEL SINCE 2008: INK Research shows the TSX Venture, Metals and Minerals and Precious Metals Sentiment Indicator spiking recently to levels last seen at the bottom of the market in November 2008. The indicator takes insider buy only transactions and divides it by insider sell only transactions. For the TSX Venture, over the past 30 days, there have been 7 times the number of insider buy transactions vs. sell transactions. • For Diversified Metals and Mining, over the past 30 days, there have been almost 6 times the number of insider buy transactions vs. sell transactions. • For Precious Metals, over the past 30 days, there have been more than 3 times the number of insider buy transactions vs. sell transactions. The last time these indicators reached these levels was in November 2008, which coincided with the bottom of the TSX Venture Index. 3 months later, the TSX Venture Index was 25% higher. 6 months later, it was 49% higher. 9 months later, it was 60% higher. And one year later, the TSX Venture Index was 92% higher. • By November 2008. The TSX Venture Index had dropped 75% from peak to trough • In 2011, the TSX Venture Index dropped 47% from the peak in March to the trough in October. The average daily volume traded for the TSX Venture remains low. Only 175 M shares last week, below the critical threshold of 200 M shares. But keep in mind, last time around, we didn't see volumes increase above 200 M shares until May 2009. Over that low volume period, the TSX Venture Index rose 49%. Despite low volumes, it could be time to start adding some risk into your portfolio. dharma

[dharma]

i sold auy this am, i have held it since 4, http://www.bloomberg...iate-funds.html
i have been warning of this kind of stuff for years. make sure your miners are in capitalistic countries and in geopolitical safe areas. as poor countries become more cash starved nationalization becomes appealing. i think brazil will be ok. but i have enough headaches and i didnt want the exposure.

so , it seems this is their solution to the greek debt problem
http://news.yahoo.co...-014636260.html
EU official: banks agree 50 pct cut on Greek debt
so, i am to understand that the banks take a 50%haircut and all is well?

i agree w/griffiths and i do think a good buying opportunity presents itself in 12 http://kingworldnews..._in_2_Days.html

so,its a waiting game. as much as they want you to believe that all is aok. its not. keep your eye on the ball. its all about sovereign debt. and yes there is a derivative tower in the background. banks and bankers are not what they are cracked up to be. its all a mirage. thus the name fiat. when there is not intrinsic value to the currency, then the whole thing is a lie. however , it works quite well thank you. the system is srtetched to its max . fewer and fewer are signing on the dotted line . now how does this mountain of debt get financed? my guess is they print!!!!! yes there will be bad {bleeeep} corrections. if you are not leveraged then they come and go. 2008 was a slaughter. uncomfortable. it came and went. so will all the rest of the corrections and i do expect some large corrections. in 76 gold went from 204 to 102 , that is a major haircut!
dharma

Edited by dharma, 27 October 2011 - 09:22 AM.

[johngeorge]

Marc Faber Interview: CNBC Video Interview: October 26th, 2011

[dharma]

the system is a shadow of itself, it is still functioning well, but it is essentially bankrupt. several cbs have established gold buy programs. do what they do, forget about what they say. this is all a process , it takes time. and it will not happen in anyones time frame, but it will happen. a great deal of patience is required. few have patience the tendency is to avoid pain and jump in and out. yes nickels and dimes can be picked up that way. riding is not easy. i am looking for a larger correction in 12, then the 400 in 11. gold revaluation will occur , but again in its own time. i had held auy for a long time, i am not complaining , but selling it has left me w/a good bit of cash. and the market has moved up 20%+ i may be forced to wait for 12. not going to chase or do something stupid. we have years, is my guess for this thing to reach full expression. not one limit up day yet, in this whole bull market. when the jig is up, we will have many, the public will storm in and want the metals @all costs. the next phase will find institutional investors, coming into the mining sector. of course they will buy seniors and that will set the stage for the next phase. which is how much is gold in the ground worth. and thats when the explorers and juniors get their cue. you dont want to have too many juniors @this point. it is essentially dead money. it seemed to me that yesterday, the broads are anticipating more printing. remember stocks are real assets. in weimar stocks went up until the printing became horrific, and some companies like damlier benz did well. eventually the last man standing will be gold. now if hugo salinas can get mexico to make silver currency, and other cbs follow suit, then you have a sound argument for silver. i do think silver is going higher, and maybe alot higher. but in the hands of mostly speculators, its demise will be violent. the move from 50 to 26 will be the norm. end of oct to mid november is not part of the seasonally strong period. Diwali just occurred and the indians stocked up on gold. next is their wedding season. 1764 is my # , above that and we could get some mojo dharma

[stubaby]

the system is a shadow of itself, it is still functioning well, but it is essentially bankrupt. several cbs have established gold buy programs. do what they do, forget about what they say. this is all a process , it takes time. and it will not happen in anyones time frame, but it will happen. a great deal of patience is required. few have patience the tendency is to avoid pain and jump in and out. yes nickels and dimes can be picked up that way. riding is not easy. i am looking for a larger correction in 12, then the 400 in 11. gold revaluation will occur , but again in its own time.
i had held auy for a long time, i am not complaining , but selling it has left me w/a good bit of cash. and the market has moved up 20%+ i may be forced to wait for 12. not going to chase or do something stupid. we have years, is my guess for this thing to reach full expression. not one limit up day yet, in this whole bull market. when the jig is up, we will have many, the public will storm in and want the metals @all costs. the next phase will find institutional investors, coming into the mining sector. of course they will buy seniors and that will set the stage for the next phase. which is how much is gold in the ground worth. and thats when the explorers and juniors get their cue. you dont want to have too many juniors @this point. it is essentially dead money.
it seemed to me that yesterday, the broads are anticipating more printing. remember stocks are real assets. in weimar stocks went up until the printing became horrific, and some companies like damlier benz did well. eventually the last man standing will be gold. now if hugo salinas can get mexico to make silver currency, and other cbs follow suit, then you have a sound argument for silver. i do think silver is going higher, and maybe alot higher. but in the hands of mostly speculators, its demise will be violent. the move from 50 to 26 will be the norm.
end of oct to mid november is not part of the seasonally strong period. Diwali just occurred and the indians stocked up on gold. next is their wedding season. 1764 is my # , above that and we could get some mojo
dharma

dharma:

...from nimblebear on the FF main board:

Think about the bondholders and those who are supposedly "volunteering" for "just" a 50% haircut. It won't be ending at 50%, it won't be ending at Greece, the holders of that debt aren't only who you think they are. When a guy like Faber says to prefer stocks over bonds for the next 10 years, its NOT b/c stocks are going to do "well." Everything is relative. Not one person on the planet is anticipating what can happen to bond and debt holders, bc until now they've been backed by fiat. Certain bond holders in 2008 got creamed, and that was a walk in the park compared to what's coming, and how widespread and deep it will be. Today was literally the turning point. There is no going back. The situation is unsalvageable, and its going to hit the US far harder than the EU.

http://www.traders-t...howtopic=135436


stubaby