a bottom!?
#41
Posted 24 May 2012 - 02:03 PM
whose buying, glad you asked
http://www.marketwat...pril-2012-05-24
well this cant get far w/o the water being turned on
coming right up!
http://www.thefinanc...gland-qe/01001/
dharma
#42
Posted 25 May 2012 - 07:27 AM
In the world of 0 and 1: "austerity" is the right thing to SAY; "spent more, print more" is the right thing to DO.
"You miss 100% of the shots you don't take."
~ Wayne Gretzky
#43
Posted 25 May 2012 - 10:08 AM
#44
Posted 25 May 2012 - 10:24 AM
johngeorge
#45
Posted 25 May 2012 - 12:00 PM
having participated in this dance before, i can tell you that few will ride the parabolic. as you state jg, the fundamentals for rising gold prices remain intact, and are not even being addressed. none the less its very easy to be guided by charts, rather than the prevailing winds. yes, @times the market allows one to look and feel like a genius. and that is the hook. make no mistake, this will not be easy. studying past parabolics help. on the weekly gold chart , this consolidation/correction is rivaling the longest to date. i believe, whenever this completes, we will step into the next phase of the bull. there will be more and more reasons to miss the moves. its the nature of the beast. i am watching the miners for clues as to if they have put in a major bottom here. there is no doubt the miners are cheap. but is this a major bottom? to continue to ride is not easy w/o conviction. and that conviction comes from having studied other parabolics. and of course from having studied the history of fiats/money. sure holding the miners looks to have been stupid, lets talk in a few yearsOf gold and charts......Here is a PNF chart of gold. It indicates we may have ~ $100 to go yet on the downside. In addition we have a full moon coming June 4th and a major Bradley turn date on June 12th. IMO the fundamentals for gold remain and it is the place to be for the next several years.
dharma
#46
Posted 25 May 2012 - 12:53 PM
Hi Johngeorge,Of gold and charts......Here is a PNF chart of gold. It indicates we may have ~ $100 to go yet on the downside. In addition we have a full moon coming June 4th and a major Bradley turn date on June 12th. IMO the fundamentals for gold remain and it is the place to be for the next several years.
I thought I'd give you Dorsey's pnf for gold..it's been on a sell now since 5/8..target has been met at 1550..it was a double bottom break...
.now a buy signal comes in with a touch of 1600..with a double top breakout..so if you see it touch that..then we start watching the resistances..Merriman uses the 15 and 45 day moving averages on the daily..the 45 ma is at 1630.87 and falling.
a 2nd sell signal comes in at 1520
Everyone is looking down for gold..and I'm not saying they will be wrong..but I would not be surprised if we get a quick rally past 1600 before further downside. ECB speaks on the 6th..that also was a low at one time from Armstrong for both the broads and the metals..it keeps changing of course..and it is also a Venus eclipse that day..so it's possible falling into that could be a reversal for both markets..Venus= money..and..China is concern on their growth, too. With the Greece elections coming up on the 17th, it still is possible for us to rally into that..or as Armstrong puts it..possible rally into July with a panic low Aug/Sep..this has gotten long in the tooth and we are very close to some buy signals..just like we got with gdx finally..
I'll let the market tell me. But those targets we see on PNF....most times they dont get hit..in this case with Dorsey's pnf..it went beyond..he even says not to put too much faith into the price objective..what I look for is the next buy signal or a breakdown to give me that clue..
We have a 3 day weekend..maybe the CB's are working this weekend..LOL!
Thanks for your input and have a great holiday
TM
Edited by tradermama, 25 May 2012 - 12:55 PM.
#47
Posted 25 May 2012 - 01:29 PM
having participated in this dance before, i can tell you that few will ride the parabolic. as you state jg, the fundamentals for rising gold prices remain intact, and are not even being addressed. none the less its very easy to be guided by charts, rather than the prevailing winds. yes, @times the market allows one to look and feel like a genius. and that is the hook. make no mistake, this will not be easy. studying past parabolics help. on the weekly gold chart , this consolidation/correction is rivaling the longest to date. i believe, whenever this completes, we will step into the next phase of the bull. there will be more and more reasons to miss the moves. its the nature of the beast. i am watching the miners for clues as to if they have put in a major bottom here. there is no doubt the miners are cheap. but is this a major bottom? to continue to ride is not easy w/o conviction. and that conviction comes from having studied other parabolics. and of course from having studied the history of fiats/money. sure holding the miners looks to have been stupid, lets talk in a few yearsOf gold and charts......Here is a PNF chart of gold. It indicates we may have ~ $100 to go yet on the downside. In addition we have a full moon coming June 4th and a major Bradley turn date on June 12th. IMO the fundamentals for gold remain and it is the place to be for the next several years.
dharma
Dharma, there is no parabolic. Its a bear market, and the parabola was last year.
Its a slope of hope here. Classico. Buying all the way dawwwwwwwwnnnnnnnnnnnnnn
#48
Posted 26 May 2012 - 02:44 AM
#49
Posted 26 May 2012 - 03:46 AM
#50
Posted 26 May 2012 - 03:48 AM
its the specs pressing the gold market ,oi increased yesterday!
whose buying, glad you asked
http://www.marketwat...pril-2012-05-24
well this cant get far w/o the water being turned on
coming right up!
http://www.thefinanc...gland-qe/01001/
dharma
Just how much gold do you think kazastan and ukraine will buy