143 replies to this topic

[dharma]

THE greek election was a non event. seems the banksters got their boy elected- a big spender who wants to raise taxes. wednesday is the fed meeting. auy took out xg for .52% on the day. xg has its mine in argentina! not a place where i want to have ownership. the large pattern in the gold market is quite constructive. i am in wait and see mode. i have no doubt the prevailing trend reasserts itself, the question is when and from what price level. no matter who was elected in greece, their problems are not going to magically disappear. and now there is spain and italy which are much more significant problems. dharma

[dharma]

armstrong
http://www.martinarm...0Gold/index.htm
dharma

[dharma]

the question is , is this rally fractal the same as the 08 rally fractal that produced a 70 up day?! it looks uncannily similar to me. after that rally failed we made the 08/09 lows that produced this whole rally. that lasted for a few years tomorrow the fed makes its. announcement. i dont expect much so far the 1630 has been stiff resistance. we keep banging away @it. miners are acting perky. and it doesnt seem to matter what gold does here. we will see if that is a trend that continues. yesterday xg got taken out by auy. imo not a desirable location -argentina. but auy got the assets cheaply dharma

Edited by dharma, 19 June 2012 - 09:41 AM.

[stubaby]

the question is , is this rally fractal the same as the 08 rally fractal that produced a 70 up day?! it looks uncannily similar to me. after that rally failed we made the 08/09 lows that produced this whole rally. that lasted for a few years tomorrow the fed makes its. announcement. i dont expect much so far the 1630 has been stiff resistance. we keep banging away @it. miners are acting perky. and it doesnt seem to matter what gold does here. we will see if that is a trend that continues.
yesterday xg got taken out by auy. imo not a desirable location -argentina. but auy got the assets cheaply
dharma

dharma:

Long hard grind in the miners since December 2010 I (really January 2011, as December 2010 saw the Junior's run). The positive relative performance here with Gold "in a range" is typical of 4-year cycle bottoms. My mantra today:

• Focus on relative strength leaders (both up and down)
• Concentrate on "producers", especially with dividends
• Limit Juniors to those with a "funding window" and strong management
• Keep cash available to average down, when opportunities occur

Looking forward this should be an outstanding cycle to the upside (probably better than the 2008 low, since the basing has been extended in time).

stubaby

[dharma]

the question is , is this rally fractal the same as the 08 rally fractal that produced a 70 up day?! it looks uncannily similar to me. after that rally failed we made the 08/09 lows that produced this whole rally. that lasted for a few years tomorrow the fed makes its. announcement. i dont expect much so far the 1630 has been stiff resistance. we keep banging away @it. miners are acting perky. and it doesnt seem to matter what gold does here. we will see if that is a trend that continues.
yesterday xg got taken out by auy. imo not a desirable location -argentina. but auy got the assets cheaply
dharma

dharma:

Long hard grind in the miners since December 2010 I (really January 2011, as December 2010 saw the Junior's run). The positive relative performance here with Gold "in a range" is typical of 4-year cycle bottoms. My mantra today:

• Focus on relative strength leaders (both up and down)
• Concentrate on "producers", especially with dividends
• Limit Juniors to those with a "funding window" and strong management
• Keep cash available to average down, when opportunities occur

Looking forward this should be an outstanding cycle to the upside (probably better than the 2008 low, since the basing has been extended in time).

stubaby

stu, i agree w/you i bought aem, gg, and even some nem near their lows. and accumulated a position in those seniors. i do think its going to tough on most juniors . however, those w/superior management that have the goods., will outperform everything
a friend sent me this link. i found it most interesting
http://www.theaurepo...om/pub/na/13643
if true , we could be seeing the start of the mining cycle right here
dharma

[dougie]

do you agree we are at some sort of critical bifurcation here: up into the end of the month implies a correction thereafter, whereas down into July here and we might change course for a prolonged period?

[dharma]

auy raises dividend-http://www.marketwir...yri-1670261.htm
i thought diamonds testimony was informative."we are positioned to make money if interest rates rise"
this means either they are protecting the currency if interest rates rise or there is inflation
either one of those is gold bullish. interest rates rising is gold bullish . it wasnt volkers persistence in raising rates that killed the gold bull last time.
dharma

Edited by dharma, 19 June 2012 - 01:56 PM.

[stubaby]

do you agree we are at some sort of critical bifurcation here: up into the end of the month implies a correction thereafter, whereas down into July here and we might change course for a prolonged period?

dougie:

Individual charts of miners look to be in bullish correctives here after their run-ups - implies higher near-term prices. IMHO:

http://stockcharts.c...96117&r=139.png

http://stockcharts.c...30999&r=556.png

http://stockcharts.c...96105&r=573.png

http://stockcharts.c...6130&r=7614.png

http://stockcharts.c...496110&r=38.png


stubaby

[dougie]

thanks Stu My favored is a pop to new local highs into July then a prolonged meandering sell off frustrating us all

[dharma]

well the fed speaks today, and we have the customary slap down in gold lately when the chairman speaks , gold gets slapped operation twist ends today, so maybe they continue to buy bonds?? i dont think we get a qe today, but again who knows?? i am in wait mode. dharma nice charts stu