143 replies to this topic

[dharma]

today is the low for the bradley greek elections the 17th , munisipal workers strike on the 16th lots happening in the world. europes 3rd largest economy, italy stepping up to the window needing funds for their massive debts. as the force of the current slowdown exhibits its weight on the world economy. fitch downgrades long term ratings of 18 spanish banks. where is keynes when you need him?! corrections are part of the process. the pms will resume their bull when the time is ripe. here and now there are several events keeping a lid on prices. i know that i cant pin point the turn, so i wait w/no debt and no leverage. in euros gold chart looks quite constructive. keep in mind gold is valued in many currencies. dharma

Edited by dharma, 12 June 2012 - 09:19 AM.

[dharma]

its fairly obvious that a good #of folks have no idea what this crises is about or what caused the crises to begin w/ . i dont want to elaborate , its quite apparent. next to the window is italy, the 3rd largest economy in the eurozone. seems to me , once the runs begin, the banks have little/no chance of survival w/o injection of capital. then you have experts like dennis gartman calling the end of the gold bull. i never did like crowds anyway. its why i like in one of the largest and least populated states. the gold bull is far from over. although the summer will see more and more folks jettison their positions. if the 1524 is taken out , which i believe it will be triple bottoms almost never hold. then i will diverge w/alfs call. in the last bull the largest appreciation occurred in wave 5 and that very well may be the case again. my job is not to forecast but to respond to the market. having bought 1530s , my next buy is into an oversold condition w/divergences. and i will wait for that to occur. every one is lined up for the next ltro or qe3. it will come but most probably out of fear.and maybe not until then. so i wait. and wait. never losing sleep worrying if the sun will come up tomorrow or not. basic laws of nature never change, they remain w/in normal parameters. and so it is for markets. most of the gold community will hop back on when prices are on the rise. and they will be right for a period of time. the next phase all the new born experts appear and mistake their genius for the bull market. enjoy the summer. hug those you love. dont let these markets eat your time here. dharma

[tria]

dharma and all,

Mapping the Next Five Months
Forget his mentioning of Gold at the moment, and read what he says about the timming of any QE.

http://libertyblitzk...gold-will-soar/

-tria

[dharma]

dharma and all,

Mapping the Next Five Months
Forget his mentioning of Gold at the moment, and read what he says about the timming of any QE.

http://libertyblitzk...gold-will-soar/

-tria

there are many theories on when qe arrives. but i agree w/this statement"The Fed is already behind the curve and so when they are forced to act the infusion will have to be huge just to stem the momentum. What will really be interesting is if they will be able to stem the momentum. I have no idea but the longer they wait the less likely they will be able to.'
i also agree w/him , silvers move will be breathtaking. it will be overcrowded w/speculators. its not one to get greedy w/.
dharma

Edited by dharma, 13 June 2012 - 11:42 AM.

[dharma]

the highs occurred in gold last sept. and for silver a year ago april. since that time they have been consolidating those gains. corrections serve to confound and confuse. this one not only did that, but forced many players to sell. punters got scared and sold. 12 has proven to be a brutal year for the pm sector. in a string of years w/higher highs, 12 is a year of consolidation. the forces of deflation have exerted their dominance. sovereign debt continues to grow. there are no sound currencies. and then lurking in the background is the derivative tower. bonds bottomed in 81 and since that time have been in a bull market. folks have been corralled into bonds. after 30+years of bull , not a wise decision to enter that bull. i dont claim to know when, but next is the bear for the largest market-bonds. dharma

[dharma]

starting to feel like i am doing a monologue here. not what i enjoy doing dharma

[rooster]

starting to feel like i am doing a monologue here. not what i enjoy doing
dharma

Dharma I'm reading everything your writing. I wish I had the experience to add to the conversation. I keep learning though from your posts.

[jabat]

Dharma, I daily read your input. Please keep repeating even if you have to. That will keep us on board this bull market . We can not thank you enough for your time and experience you are sharing with us. Please do not give up!!!

[stubaby]

bonds bottomed in 81 and since that time have been in a bull market. folks have been corralled into bonds. after 30+years of bull , not a wise decision to enter that bull. i dont claim to know when, but next is the bear for the largest market-bonds.

dharma

dharma:

....and what a bear it will be - trapping every economic class - and "values" will actually hold-up, so pension funds will be able to claim 'due diligence', eventhough the US Dollar's eventual devaluation will reduce "relative values", i.e., purchasing power!

Great chart from Gary at Biwwii Blogspot:
BiiwiiBlogspot


stubaby

[tria]

starting to feel like i am doing a monologue here. not what i enjoy doing
dharma

dharma,

I read this on ZeroHedge
9:44 Precious Metals
It's Precious Metals Smack Down Time

http://www.zerohedge...20614_PMs_1.png

It would appear the BIS gold trading team is back from their cappuccino break.

As long as this continues and I must say they did it right at a resistance point in my daily chart, what can one say, apart from waiting for the inevitable?

BTW

With Egypt On The Verge Of A Military Coup And Martial Law, Art Cashin Issues A Warning
Submitted by Tyler Durden on 06/14/2012 - 10:22 Art Cashin Eurozone France Greece Iran Israel Martial Law Middle East Reuters Saudi Arabia

"The most important election this weekend may have nothing to do with the Eurozone - at least directly. The election in Egypt may change the face of the Middle East. The implications to Israel, Iran and Saudi Arabia are enormous. Will the most populous Arab nation become a theocracy? This will be some weekend."

-tria