305 replies to this topic

[senorBS]

gold trading muy bueno this mornin at 1647, methinks low is in, GDX and XAU will be muy interesting with stock index Futures grande lower. Senor

[fluid]

Senor, I am ased in the Uk. Wold you be open, this summer, for me to come and visit you and you tech me about waves and counts and how to work this thing and what to look for? I am happy to pay for it. PLease email me if you feel this may have some possibilities: tor2000uk@yahoo.co.uk

[dharma]

we are in an economic war. there are a few tools that are being used, global monetary easing and qe are the tools being fired. neither of these get rid of the debt. they do provide liquidity to the system and will help the economy to look better. it does not trim the sovereign debt . have these moves occurred before. before my trading days , from 75-76 gold went from 204-102 a50% haircut. i did not trade then, so i dont know exactly what the feel of the market was. but its not hard to imagine. from there gold went to 875 over the next 4 years. the miners started their run in 78-79 which is when i began gold went up 8.75x. and i saw many big name analysts-gold bugs. leave the train in the low 400s -too high , too fast. was the call, for a correction. it never came. they chased. this is economic war. england , canada et al sold their gold @300 . so , its no surprise that the miners continue to decline. i wonder who is buying? might it be the same folks who bought 300 from the willing sovereigns? i dont get involved in the battles. i have no debt. no margin. fully paid for positions. i am mentally prepared to sit. i have decided this would be my strategy, not comfortable(keep in mind that i am a retired commodity trader-ie swing trader) but having seen the last 2years of the previous bull, i decided to have a large % core. is this a comfortable position? no , its not,. but based on what i had seen, i am thinking that it will be very profitable. we shall see dharma

[fluid]

GOLD AND GOLD STOCK BULL is OVER, just look at the price action. They've had enough of a chance. Going a lot lower IMO.

[dougie]

36 area looks like a great long term buy imo

look at those monthly indicators: never happened the whole bull market. maybe the bull is dead. Or this is a grande wave two of the whole shebang

From Hubbart...

[fluid]

Be very careful in listing to people like Hubbart. He comes with a contrarian health warning.

Here is his post on 15 April 2011. Stating the GDXJ would go up like a rocket to $75:

http://howlingcoyote...-by-morris.html

As things turned out, that call marked a TOP to the day, and the index has since imploded.

If his track record is anything to go by, the gold stocks are going to go a LOT LOWER.

[fluid]

Check Hubbarts track record he was rampant bullish RIGHT AT THE GDXJ TOP, TO THE DAY IN APRIL 2011.

[fluid]

I have tried to post this comment for the third time to make sure I get my warnings across. Hubbart called for a parabolic move up right at the top of the market in April 2011, so I would be extremely careful about relying on any predictions or forecasts from him:

http://howlingcoyote...-by-morris.html

[stubaby]

36 area looks like a great long term buy imo

look at those monthly indicators: never happened the whole bull market. maybe the bull is dead. Or this is a grande wave two of the whole shebang

From Hubbart...

dougie:

Failure to recapture the "wedge" this week would bring one of the trendlines below into play for a bottom:

http://stockcharts.c...1942&r=7898.png

stubaby

[johngeorge]

This weekly pnf chart of GDX shows a preliminary price objective of 34.32.

This daily pnf chart of GDX shows a preliminary price objective of 41.36.