173 replies to this topic

[tria]

Also Monday/Tues is a 3 star reversal for the broads which should mean down.
Silver has a 1 star reversal which most likely gold will too.

TM

Eric Hadik has a very important high for the US stock market 6-10 August, and Parker has a high near 13 August. How this possibility will affect the PMs remains to be seen.

-tria

Also, if I remember correctly, in one of the articles from Armstrong he had a high on the 7th. So it appears the first week of August could be the top in the broads. We will soon fine out how it affects the PMs. But no matter, we are set up for a good buy in for an August low before a Sept rally for PMs. Thanks for your update info. How are things in Greece for you?
TM

When people come back from their summer vacations, they will face paying once again increased income and real estate taxes and many will be unable to do so. The numbers just don't add up, and if they try to make them by increased taxation mainly, there could be social unrest.
The Troika is leaving on Monday with mixed feelings, I believe, and their report on the state of the Greek economy will be presented in late September. Till then, all quite in the Eastern front.
Cash remains King in all activities.

Have a nice weekend TM
-tria

[dharma]

i have a chart from ge asset management of money invested in the s&p from 1980-dec 31st 2011 , far and away the best returns were afforded to those who sat. those who gamed did not fare as well

http://www.gefunds.c...t_Ups_Downs.pdf

yes, that is the one. thanks
dharma

[dharma]

hgnsi for friaday was -4% these are not the kind of #s you see @ the start of a major decline. these are the kind of #syou see @bottoms forming dharma

[johngeorge]

Thanks dharma for the hgnsi updates.

[dharma]

is the bottom in? the market has made a bottoming pattern. it has broken out from a large pennant formation=bullish. along w/my theme that charts are painted pictures, i dont want to hang my hat on the idea that the bottom is in. the market has come up to the last high 1626 area, but it has not taken it out. of course the market will do things in its own time. so, we have to see if upside action awaits us. above 1681 , then above 1700 and i will think that the bottom is probably in. we have tested 1520s area about 8x. but, this alone just tells you there is good support in that area, it doesnt say the bottom is in. i am taking the attitude, show me. i am prepared to buy if weakness should occur and i am satisfied w/my position it we should blast off from here. the dogs of the market, the miners. will have their day. something that hated, will come 180degrees around. its all a matter of time. patience is required dharma

[fluid]

Dharma, I still think it is TOO EARLY. The price action isnt right either from the gold stocks or from the metal. I wish you good luck.

[tradermama]

GDX got a pnf buy at 44 today..target 50...close to its 50 day...44.31 TM

[dharma]

tomorrow mercury goes direct. so what the markets are telling us, after tomorrow , is worth listening to. what i see is a market that is range bound. above 1630 on a close will be more encouraging. we are consolidating in here. anything is possible.what i like is we are soon to be approaching a seasonally strong period. the indian buying season is approaching . dharma

[tradermama]

tomorrow mercury goes direct. so what the markets are telling us, after tomorrow , is worth listening to. what i see is a market that is range bound. above 1630 on a close will be more encouraging. we are consolidating in here. anything is possible.what i like is we are soon to be approaching a seasonally strong period. the indian buying season is approaching .
dharma

ditto! also one thing that sometimes happens when a planet changes direction ..so do markets...I would think they try and take this under 1600 again..around the 1580-90 area..buyers should step up...Bullish period should start around Aug 23rd..so lots of shaking will be going on most likely...broads are due to have some short term top today or by end of this week...I would also be watching how metals/miners hold up if the broads do sell off good..last time they held up well...one thing today I notice was the Rut finally got a pnf buy..it was the last one of the main indexes..Rut=liquidity...funny how it gets its breakout near a reversal period..and Mercury Retro ends tomorrow!..are the breakouts fake outs?...as you have said, Dharma, after tomorrow it's worth listening too...
Silver is showing some strength here holding into the 28's..28.50 is a pnf buy. It's the last of the 3 musketeers that needs to get moving up.
TM

[dharma]

tomorrow mercury goes direct. so what the markets are telling us, after tomorrow , is worth listening to. what i see is a market that is range bound. above 1630 on a close will be more encouraging. we are consolidating in here. anything is possible.what i like is we are soon to be approaching a seasonally strong period. the indian buying season is approaching .
dharma

ditto! also one thing that sometimes happens when a planet changes direction ..so do markets...I would think they try and take this under 1600 again..around the 1580-90 area..buyers should step up...Bullish period should start around Aug 23rd..so lots of shaking will be going on most likely...broads are due to have some short term top today or by end of this week...I would also be watching how metals/miners hold up if the broads do sell off good..last time they held up well...one thing today I notice was the Rut finally got a pnf buy..it was the last one of the main indexes..Rut=liquidity...funny how it gets its breakout near a reversal period..and Mercury Retro ends tomorrow!..are the breakouts fake outs?...as you have said, Dharma, after tomorrow it's worth listening too...
Silver is showing some strength here holding into the 28's..28.50 is a pnf buy. It's the last of the 3 musketeers that needs to get moving up.
TM

good point, when mercury changes directions so might the markets. i got caught in 87 being short the broads and long miners. gold was having a bit of a renaissance back then. in my experience, if the broads tank, that sucking sound takes everything (except the bonds) w/it. the financial fabric continues to grow weaker. use weakness to pick up your favs.
dharma