305 replies to this topic

[dougie]

look at the nikkei too

[tradermama]

From Dorsey's site ..the nyse bullish percent is now on a sell for the broad market.(first time this year)..which is like an intermediate sell for the broad market..typically it lasts for a month to months but had 3 exceptions where it lasted 2-3 weeks. It's not normally a short term indicator and it means to be defensive with the broad market and not to buy the dips..... Another thing I watch are mutual fund action (because they are a basket of stocks) and I just got a lot of sells coming in yesterday. I also apply this for the metals/miners too for the same reason which they have been on a sell for a while. That will also be a clue to me improvement in the metals/miner area. After yesterday's action while the market was going down metals/miners were going up....it appears that the metals/miners are pricing in some QE coming soon. Next Fed meeting Apr 25th. That said, we need to get over and stay over 1705 for a low to be in. 1690 is a pnf buy signal. It's still on a sell pointing to 1550 target. That said, yesterday's action was promising as we had 2 closes above 1640 which is a new Gann cycle. We are developing a triangle range and also have an inverse Head and Shoulder as long as gold doesn't fall below 1528.60. TM

[johngeorge]

Thanks TM

Your stuff is always good and very much appreciated. Dan Norcini has 1680 as his line in the sand for gold. In his latest remarks at KWN he indicates a huge bid on gold caused recent shorts to cover yesterday. Today is a minor Bradley turn date.

[tradermama]

Thanks TM

Your stuff is always good and very much appreciated. Dan Norcini has 1680 as his line in the sand for gold. In his latest remarks at KWN he indicates a huge bid on gold caused recent shorts to cover yesterday. Today is a minor Bradley turn date.

China? LOL!...Hopefully that big bid keeps gold from going under 1600..next turn is 4/13-16 for metals..that's a Merriman turn but also 4/13 is a Gann 39 Calendar Day...
Thanks Johngeorge..I like what you post too..very much appriciated.
TM

[johngeorge]

Regarding QE3. Remarks from John Hampson at Solar Cycles which I think have validity. "By various oversold/overbearish indicators, gold and gold miners look a buy opportunity here. Bernanke’s remarks whilst I was away that implied no QE3 caused another sell off in gold, but I believe that’s just part of the final clear out of weak hands. Gold does not need QE3 whilst negative real interest rates, central bank demand, money supply increases and real inflation data all remain supportive."

[dharma]

those looking for a smooth ride, will continually have a rude awakening. the market is going to be, if its not already untradeable. watching it , its unbelievable how they continually wipe out the longs, come back around and trap the shorts. sorry my seat is taken, and i wont be getting up for the whole ride. so, is the bottom in? could be nothing definitive has been shown. yes, we have broken into the next price cycle yes, we closed above 1659, so what. above the sq 1681 and its encouraging. and as traderama points out above 1700 and we are on our way. now , all of this is interesting, no doubt-intriguing. i came this way because of the sovereign debt. it is still relatively early in the game, the few of us who have been here over the years are still here. the army of newbie experts await in the wings. the sovereign debt is the true story. greece was 1st up. but that is a small snack. we have portugal, spain , italy waiting in the wings. japan doesnt look so hot to me. and on and on. the paper money ponzi scheme was/is an irresistible idea. banks make fortunes w/fractional reserve banking. what could go wrong!!!?
time is on the side of those w/patience. those who cant wait, will be buying over and over again. in the parabolic they will be buying higher than they sold. the most hated sector , the miners. will @some point(i dont know when) be front and center, w/the new found experts advising particular miners will be common place.
dharma

[tradermama]

those looking for a smooth ride, will continually have a rude awakening. the market is going to be, if its not already untradeable. watching it , its unbelievable how they continually wipe out the longs, come back around and trap the shorts. sorry my seat is taken, and i wont be getting up for the whole ride. so, is the bottom in? could be nothing definitive has been shown. yes, we have broken into the next price cycle yes, we closed above 1659, so what. above the sq 1681 and its encouraging. and as traderama points out above 1700 and we are on our way. now , all of this is interesting, no doubt-intriguing. i came this way because of the sovereign debt. it is still relatively early in the game, the few of us who have been here over the years are still here. the army of newbie experts await in the wings. the sovereign debt is the true story. greece was 1st up. but that is a small snack. we have portugal, spain , italy waiting in the wings. japan doesnt look so hot to me. and on and on. the paper money ponzi scheme was/is an irresistible idea. banks make fortunes w/fractional reserve banking. what could go wrong!!!?
time is on the side of those w/patience. those who cant wait, will be buying over and over again. in the parabolic they will be buying higher than they sold. the most hated sector , the miners. will @some point(i dont know when) be front and center, w/the new found experts advising particular miners will be common place.
dharma

Also, we have the Indian buying coming in end of the month ..
http://www.kitco.com...10AS_focus.html
TM

[dharma]

years ago ted butler pointed out in great detail the supply/demand situation in silver. this alerted us to the fact that silver was severly undervalued
here he is today
http://www.silversee...s-tv-appearance
imbedded in this piece is yesterdays interview w/head commodity trader @jpm ms. masters
it may entice you to laugh or puke!

von greyerz
http://kingworldnews..._Right_Now.html
dharma

[dougie]

tres norte or cico SUR?

seems ro me that those trendlines are more wishful thinking than anything real on gdx
gdx chart is broken to this tired eye but a bounce is surely overdue if only to keep bullish hopes alive before the real smackdown
everyone praying for more qe wont make it happen nor will falling equity markets necessarily which is happy to see interest rates fall
does the system want obama or romney? does it matter?

Senor says watch for norte ignition here, Dow down 150 and HUI and GDX rallying bueno off lows and gold at new rally highs above 1650 - QE-TRES baby?
Muy interesting

PURE BS

Senor

[dougie]

given the performance of miners these past couple of years we would have been well served to have more short leaning anlysts around to help think things through imo