294 replies to this topic

[gismeu]

Hi,

I am an EW beginner in training, but what I like about that count from the SLV daily chart is
that wave 3 is almost 3 times as long in time as wave 5
and the following price ratios:

w3:w1 = 1.725
w4:w2 = 1.51
w5:w1 = 1.33
w5:w3 = 0.77


You can find the chart here:

http://i931.photobuc...ailyEWcount.jpg

gis
P.S. Obviously you can have a 5 wave impulsive wave going up in an impulsive downtrend, but
in my view fundamentals don't point that way

[dharma]

.618 correction in gold of the 1523 low to the 1589 high =1524 rounding off. i dont know if we get to that point or not . the dailies and hourlies are oversold. i have turns on the 8th and 16th. the gdxj looks like it is making an inverse h&s , we are in the process of making a right shoulder right now. i want to buy, and will wait for the bottom to be formed. divergences on either the hourlies or dailies, depending upon what is taking place. i feel this is a wave 2 correction, or a correction of the advance that has taken place. then in the big picture of things 1of 3 of 3. this is quite normal action. of course being in this market , intestinal fortitude is part of the market. dharma

[stubaby]

.618 correction in gold of the 1523 low to the 1589 high =1524 rounding off. i dont know if we get to that point or not . the dailies and hourlies are oversold. i have turns on the 8th and 16th. the gdxj looks like it is making an inverse h&s , we are in the process of making a right shoulder right now. i want to buy, and will wait for the bottom to be formed. divergences on either the hourlies or dailies, depending upon what is taking place. i feel this is a wave 2 correction, or a correction of the advance that has taken place. then in the big picture of things 1of 3 of 3. this is quite normal action. of course being in this market , intestinal fortitude is part of the market.
dharma

More "potential" symmetries (an a-b-c for 2 for more time and a better looking right shoulder):

http://stockcharts.com/c-sc/sc?s=$GOLD&p=D&yr=0&mn=10&dy=0&i=p87873390519&a=250836454&r=2365.png


stubaby

[dharma]

should read 1624 rounding off oppps typo dharma

[senorBS]

should read 1624 rounding off
oppps typo
dharma

don't think it goes that low but's it's possible

Senor

[johngeorge]

Jim Sinclair Q & A session at latest stockholder meeting Tanzanian Resource TRX

[tradermama]

Jim Sinclair Q & A session at latest stockholder meeting Tanzanian Resource TRX

Thanks for posting this. I can really relate to what he is saying in many ways.
TM

[dharma]

agree w/you senor. i post these fib points, because i dont want to be caught flat footed. 260 rally, 120 correction. i dont think the bottom is in , but its just an opinion. i dont see hourly divergences. i do see wedges formed on the hourly charts. when real assets go on sale, i want to buy. the dollar has proven its not a store of value. if you are old enough , you have seen this over your years. japan, euro, and usa are printing. this will erode pp. the flood of liquidity(i am not sure of the time lag) will find its way into higher commodity prices. now, i have written repeatedly that i think we are in a big deflation. that view has not changed, Stagflation anyone!!!!? i dont know if they can print enough to reverse that. for me this whole thing , from the get go, is about sovereign debt. can any of these sovereigns pay this debt. in greece they are killing the patient, to try to get them to pay off their debt. if you go back to ww1 germany was saddled w/rebuilding and paying war reparations. as industrious as the german people are, they could not rebuild and pay off the war reparations. well here is all the sovereigns trying to pay the debt and maintain all the social services and other pensions etc simultaneously. it aint going to happen. the fundamentals for gold continue to get brighter and brighter, and yet here we are going through a 120 correction. its a market. all the market principles still apply. when there is nothing but blue skies for the precious metals , it will be the final top. the end of story. its just how it is! my job in all of this is to preserve my pp. when the skies are bluer then blue, i will start shedding this vehicle. we will see of course, but i believe the craze for mining shares, which are real assets lies dead ahead. the hedgies, long gold/short miners, will end as a viable hedge. when? i have no idea. i do think relatively speaking it will be soon. the reality is , cbs are printing , and will continue to print. no matter what they say, they have embarked on this road, and it will continue. the consequences of which have not been seen ------yet. i have the 8th and 16th as turn dates dharma

[senorBS]

agree w/you senor.
i post these fib points, because i dont want to be caught flat footed. 260 rally, 120 correction. i dont think the bottom is in , but its just an opinion. i dont see hourly divergences. i do see wedges formed on the hourly charts. when real assets go on sale, i want to buy. the dollar has proven its not a store of value. if you are old enough , you have seen this over your years. japan, euro, and usa are printing. this will erode pp. the flood of liquidity(i am not sure of the time lag) will find its way into higher commodity prices. now, i have written repeatedly that i think we are in a big deflation. that view has not changed, Stagflation anyone!!!!? i dont know if they can print enough to reverse that. for me this whole thing , from the get go, is about sovereign debt. can any of these sovereigns pay this debt. in greece they are killing the patient, to try to get them to pay off their debt. if you go back to ww1 germany was saddled w/rebuilding and paying war reparations. as industrious as the german people are, they could not rebuild and pay off the war reparations. well here is all the sovereigns trying to pay the debt and maintain all the social services and other pensions etc simultaneously. it aint going to happen. the fundamentals for gold continue to get brighter and brighter, and yet here we are going through a 120 correction. its a market. all the market principles still apply. when there is nothing but blue skies for the precious metals , it will be the final top. the end of story. its just how it is! my job in all of this is to preserve my pp. when the skies are bluer then blue, i will start shedding this vehicle.
we will see of course, but i believe the craze for mining shares, which are real assets lies dead ahead. the hedgies, long gold/short miners, will end as a viable hedge. when? i have no idea. i do think relatively speaking it will be soon. the reality is , cbs are printing , and will continue to print. no matter what they say, they have embarked on this road, and it will continue. the consequences of which have not been seen ------yet.
i have the 8th and 16th as turn dates
dharma

si amigo, we are muy close if not done with gold decline IMO. bueno abc down and now trying to move norte back above importante moving averages. HUI/Gold ratio is double bottoming against Feb bottom which was lowest level since early March 2009. Back then the stock market had crashed (Dow 6500) and was at a grande bottom, this time the gold shares are incredibly weak vs gold but U.S. stock market (Dow has doubled) at highest levels in a long while. Muy interesting, gold shares seem muy cheap to me but WTFDIK

BSing away

Senor

Edited by senorBS, 07 March 2012 - 03:30 PM.

[dharma]

The HGNSI collapsed 14.2 points to 16.7% yesterday. Pessimism abounds coinciding with historical lows. this is being set up. patience dharma