294 replies to this topic

[cgnx]

who cares about gold a century from now?
That farm land might well be a dustbowl.
and history supports the idea that exxon might well not be around

True that Dougie. Exxon will eventually be gone, so owning 16 of them or 2000 of them won't help you. Gold is forever. The fact that gold and silver can be cornered by a Country, China alone with 3.5 trillion could scoop up 1/3rd of all gold in the World or what would it take to corner silver? If such an attempt could be made would be the most powerful Country in the World. Since most all technology is dependent on these metals. Farmland is not rare, the USA and its 200 mil. acres are not alone. Power and control will come from those who own something that is cornerable. If the Hunt Bros. or China or Russia cornered silver, how much could silver sell for? Could this happen? At current prices, with the amount of cheap paper floating around on the planet, why wouldnt it happen?

[dharma]

who cares about gold a century from now?
That farm land might well be a dustbowl.
and history supports the idea that exxon might well not be around

yes, perspective is everything.
gold advanced from a low of 1523- 1765 for 240 advance
from 1765 we hit a low of 1708= 57 of decline
lets take hui
rounding off 478 low
to high of 555 - retracement -50%=516.5 .618=507.48
from the secondary low of 492.68 to the high off hui 555-=.618=516.28
so, we are in support here, oversold on the hourlies. waiting to see if we get hourly divergences
has this sent me for a loop, only if i have pride. and that the market knocked out of me.
just being level headed and trying to ride w/the prevailing trend. as i have stated,
there are lots of turns this month.
i am wearing my buy hat , waiting for the market to accommodate
dharma

[dharma]

gold has broken out from its wedge, this is a back test of that breakout if they dont have a deal on the greek debt, who is on the hook for the default, if that should occur dharma

[dougie]

somehow i imagined this pullback to last a few days: at least into the 15th or so

[gismeu]

Hi,

here is a daily SLV chart with Gann's floating square of nine, giving quite nice support and resistance lines.
There is also a nice fib ratio (0.618 / 0.382) between the recent high and the high on 10/27 and the low on 12/29.
In other words, a few more days of dropping for Silver to come, but support should hold latest around 29.


http://i931.photobuc.../SLVsquare9.jpg

gis

[tradermama]

Hi,

here is a daily SLV chart with Gann's floating square of nine, giving quite nice support and resistance lines.
There is also a nice fib ratio (0.618 / 0.382) between the recent high and the high on 10/27 and the low on 12/29.
In other words, a few more days of dropping for Silver to come, but support should hold latest around 29.


http://i931.photobuc.../SLVsquare9.jpg

gis

I have a pnf sell on gold with a target of 1660. However, 1681 area is to be watched first and where buying should come in. There should be a lot of turns coming up too. If we close red Monday, Chan's stuff would go on a sell next week so metals might pause here for a bit with the overall market. I also have a pnf sell on the commodity index too and other things pointing to a correction in the overall market. The question is how low we go...1302 is to me important to hold on the spx. This of course could be all short lived with the demand we have been seeing.

Silver didn't even reverse to O (supply) on pnf. A pnf sell is all the way down to 26...30 is strong support. GDX if 54 gets touched then it is a pnf sell also. It held that Friday but chances are it won't next week imo.
TM

[stubaby]

COTs moved deeper into negative territory this week:

Silver COT

Gold COT

Data as of this past Tuesday - backtest of breakout line would come in the 1,660-1,670 range this week.

http://stockcharts.com/c-sc/sc?s=$GOLD&p=D&yr=0&mn=10&dy=0&i=p87873390519&a=250836454&r=3716.png

stubaby

[leocleoc]

Tria What's up in Greece tonight? Hope you are well.

[tria]

Tria

What's up in Greece tonight? Hope you are well.

Thank you for asking, leo.
The Athens Police force being otherwise preoccuppied last night, I tried to "enter" the local IMF offices, in case I could find some Gold to "lease/borrow".
Unfortunately, all I found was IOYs.

-tria

[johngeorge]

http://forbestadvice...nDates2012.html

chart courtesy of www.amanitia.at