285 replies to this topic

[dharma]

will the miners diverge here with commodities as EURO, OIL, and USD alll argue that risk assets are in trouble here IT

i dont know much but what i see is
countries in a race to devalue their currencies. right now its devaluing against each other.
light volume day on the miners.
gold going down against another currency debasement. last time it was when the swiss devalued. the games will continue, until the market determines otherwise.
oil has just had a big rise off the 75 low, so a pullback is not unwarranted.
its all how you view the tape
dharma

[JGUITARSLIM]

Au down $20+, As down $1. The miners down on very light volume. The pause that refreshes. I see nothing more than that today. IMO...today was a buying opportunity.

[dougie]

well we will see. i see a nice wave 2 down in USD with a wave 3 up just having started as one possibility even if not favored

[dharma]

i realize the top of this upmove was friday, so there is not alot of information. @this point there is a 3wave upmove on the chart. on my price cycle work, price is holding. there are times when gold goes up and the dollar goes up. watching the dollar and making conclusions will lead one to the poor house.
seasonally this is a weak period http://www.seasonalc...ssics_gold.html
as long as nothing gets violated here, then a larger correction will not occur.
i am watching the gold market and attuning myself to that.
richard russell
Gold-lovers are obsessed
with the daily
price of gold. This is a
waste of time. The real
question is how much of
your assets are in gold?
Gold is the one single universal test of wealth and purchasing power. At one time, a measure of wealth could be answered
by “How much gold do you own?” At various intervals in history, fiat money wasn’t considered wealth. This is all you have
to know about gold. Periodically, there are times when only gold is considered wealth.
Writes Jim Grant — “Gold is an expression of the world’s distrust of the way
our central bankers conduct
their affairs.”

the volatility will make one dizzy. keep to your compass. the volatility will only increase as the system becomes more unstable
dharma
well one of the former band of thieves @gs worked his magic on mf global, and there are millions of dollars missing!! now will the former gov of nj corizine walk away unscathed???! or will he join bernie!? of course bernie had no politicans in his pocket, while the former ceo of gs does?! going to be interesting! fair and equitable?!
what do you think?????????????????????/

Edited by dharma, 01 November 2011 - 10:06 AM.

[stubaby]

well we will see. i see a nice wave 2 down in USD with a wave 3 up just having started as one possibility even if not favored

dougie:

That's my Alt count, but until 77.87 is cleared it's low probability - feels like a typical Wave 2 here after Wave 1 to me:
http://stockcharts.com/c-sc/sc?s=$USD&p=D&yr=1&mn=2&dy=0&i=p91842072874&a=187539338&r=8899.png

I'm more interested in the movement in Treasuries-as a top is being carved out here!
http://stockcharts.c...7670717&r=6.png
http://stockcharts.c...70709&r=263.png

stubaby

[dougie]

treatcherous out there could be the lows were in this AM in Miners? Could be Could be something else too

[stubaby]

dharma: Got the initial buy-in on AEM this am sub-$42 also added to FSM. I like what I am seeing here! stubaby

[dharma]

dharma:

Got the initial buy-in on AEM this am sub-$42 also added to FSM. I like what I am seeing here!


stubaby

stubaby, gold has regained strong support, miners have definitely improved. watching the 1716 support for gold , want to see it close above that to show strength. tomorrow is the fed. it will be very difficult to hold @higher #s as volatility causes sea sickness. dramamine wont help.
treacherous waters. sharks gobbling up the weak holders.
all kinds of possibilities out there. seasonally weak time http://www.seasonalc...ssics_gold.html
dharma

[dharma]

yesterday, appears to me, to be the bottom of this corrective wave. if that is the case, then i dont look for those lows to be violated. then we should be beginning a new impulse up here. a $400 correction qualifies as a major correction since the august highs. i would think someone took a chunk of money out of that. and didnt bring it to the bank!! its obvious to those paying attention, the bull wants as few riders as possible. bring your account to a place where you are comfortable and will not get bucked off. we are rapidly approaching ,imo another up wave. we are in a crises. sovereigns are deep in debt and cant pay. other sovereigns and their cbs have bought their debt causing them to be in trouble. talk about a ponzi scheme. bernie was a piker!!! it is going to take saintly patience and detachment from emotions. i got wrapped up yesterday and didnt buy a thing. which is very disappointing to me. i missed a great opportunity. as time marches forward the crises will spread to other areas. gold will be the last vehicle standing. it is debt free. it is real money i dont expect yesterdays lows or 1650 gold to be violated. now what is the fed going to say? what weapons do they have @their disposal?!the ecb is trying to prop up the weak sisters of their union! how will they do this? DEBASE! if the game isnt obvious to you, you are not paying attention. we are talking about fiat here. dont get snaked out. we have thousands of dollars to go on the upside. and some years to do it in. its not a new game, its been going on like forever. dharma

[swanstkdh]

yesterday, appears to me, to be the bottom of this corrective wave. if that is the case, then i dont look for those lows to be violated. then we should be beginning a new impulse up here. a $400 correction qualifies as a major correction since the august highs. i would think someone took a chunk of money out of that. and didnt bring it to the bank!!
its obvious to those paying attention, the bull wants as few riders as possible. bring your account to a place where you are comfortable and will not get bucked off. we are rapidly approaching ,imo another up wave. we are in a crises. sovereigns are deep in debt and cant pay. other sovereigns and their cbs have bought their debt causing them to be in trouble. talk about a ponzi scheme. bernie was a piker!!!
it is going to take saintly patience and detachment from emotions. i got wrapped up yesterday and didnt buy a thing. which is very disappointing to me. i missed a great opportunity. as time marches forward the crises will spread to other areas. gold will be the last vehicle standing. it is debt free. it is real money
i dont expect yesterdays lows or 1650 gold to be violated.
now what is the fed going to say? what weapons do they have @their disposal?!the ecb is trying to prop up the weak sisters of their union! how will they do this? DEBASE! if the game isnt obvious to you, you are not paying attention. we are talking about fiat here. dont get snaked out. we have thousands of dollars to go on the upside. and some years to do it in. its not a new game, its been going on like forever.
dharma