one tool that i recommend that everyone develops, uses, and understands its nuances is oscillators. it really doesnt matter which one you use. you can use multiple if you like. the important point is to have full understanding of how it works. and when to use it. no matter what the oscillator, in bull markets it will get you out way too early. i use it for buying only in bull markets. for sells i use s&resistance. to build an elephant gun, one needs lots of tools. i read books on former great traders, i wanted to see what made them tick. how their minds worked. what , if any tools did they use as market guides. learning fundamental analysis was a big part of their success , not my strongest suit. its how baruch bought into texas gulf sulphur , before it went on its rampage. all of this takes time and above all a trader is not worth his salt until he has traded through a complete cycle. seen the entire bull/bear. some, very few , can be astute w/o having gone through that.
dharma
sure if you saved some $$$ you can go and trade. 85% of the folks who enter these waters lose what they put in. fact!!!!!! its a field of study
i still read the forbes 400 but not as avidly as i did 30years ago.
the present market climate
Started by
dharma
, Dec 03 2011 11:38 PM
37 replies to this topic
#22
dougie
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Posted 08 December 2011 - 10:54 AM
so did we just see the highs in gold and silver: quite a powerful turnaround here
Stus third count looks to be on the money at this point
Edited by dougie, 08 December 2011 - 10:59 AM.
#23
dougie
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Posted 08 December 2011 - 11:03 AM
the ansers ST, IT here likely ligh with the USD chart: is it a cup and handle now complete and moving higher or is it simply a headfake higher today?
#24
dougie
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#25
dougie
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#26
stubaby
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Posted 13 December 2011 - 08:40 AM
dharma:
Looks like a contracting triangle for Wave e of b (starting d of e up now). My intitial target for Wave c is 1,250. The BULL is bucking now in more concentrated fashion and will knock many off over the next 2-3 weeks!
http://stockcharts.com/c-sc/sc?s=$HUI&p=D&yr=1&mn=6&dy=0&i=p19975498364&a=184397506&r=74.png
stubaby
Looks like a contracting triangle for Wave e of b (starting d of e up now). My intitial target for Wave c is 1,250. The BULL is bucking now in more concentrated fashion and will knock many off over the next 2-3 weeks!
http://stockcharts.com/c-sc/sc?s=$HUI&p=D&yr=1&mn=6&dy=0&i=p19975498364&a=184397506&r=74.png
stubaby
#27
johngeorge
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Posted 13 December 2011 - 09:22 AM
From Jim Sinclair December 12, 2011: http://www.jsmineset.com/
Dear CIGAs,
The following action is to be taken when the gold price get hit as currency controls are prepared, financial euromortus sets in, euro leaders talks politics, not actions, and when clearing houses go pear shaped.
Close your eyes, cover up with puppies, turn the heat down, light a wood fire and take a nap. Gold is headed for $4500 in the normal manner it always does – 5 steps forward and 4 back. RELAX!
Major buyers are between $1610 and $1650. Sellers are at $1764. It looks like the Gold banks are working for the Exchange Stabilization Fund.
Dear CIGAs,
The following action is to be taken when the gold price get hit as currency controls are prepared, financial euromortus sets in, euro leaders talks politics, not actions, and when clearing houses go pear shaped.
Close your eyes, cover up with puppies, turn the heat down, light a wood fire and take a nap. Gold is headed for $4500 in the normal manner it always does – 5 steps forward and 4 back. RELAX!
Major buyers are between $1610 and $1650. Sellers are at $1764. It looks like the Gold banks are working for the Exchange Stabilization Fund.
Peace
johngeorge
johngeorge
#28
dharma
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Posted 13 December 2011 - 10:40 AM
he doesnt look too concerned over yesterdays declineFrom Jim Sinclair December 12, 2011: http://www.jsmineset.com/
Dear CIGAs,
The following action is to be taken when the gold price get hit as currency controls are prepared, financial euromortus sets in, euro leaders talks politics, not actions, and when clearing houses go pear shaped.
Close your eyes, cover up with puppies, turn the heat down, light a wood fire and take a nap. Gold is headed for $4500 in the normal manner it always does – 5 steps forward and 4 back. RELAX!
Major buyers are between $1610 and $1650. Sellers are at $1764. It looks like the Gold banks are working for the Exchange Stabilization Fund.
dharma
#29
dougie
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Posted 13 December 2011 - 11:53 AM
these counts appear more tortured every day!
but you are right, this thing is a bucking bronco
so maybe that count captures this best
but you are right, this thing is a bucking bronco
so maybe that count captures this best
dharma:
Looks like a contracting triangle for Wave e of b (starting d of e up now). My intitial target for Wave c is 1,250. The BULL is bucking now in more concentrated fashion and will knock many off over the next 2-3 weeks!
http://stockcharts.com/c-sc/sc?s=$HUI&p=D&yr=1&mn=6&dy=0&i=p19975498364&a=184397506&r=74.png
stubaby
#30
rooster
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Posted 13 December 2011 - 12:01 PM
dharma:
Looks like a contracting triangle for Wave e of b (starting d of e up now). My intitial target for Wave c is 1,250. The BULL is bucking now in more concentrated fashion and will knock many off over the next 2-3 weeks!
http://stockcharts.com/c-sc/sc?s=$HUI&p=D&yr=1&mn=6&dy=0&i=p19975498364&a=184397506&r=74.png
stubaby
Dennis Gartman is off the bull, he came out yesterday and said the bull is dead.
