282 replies to this topic

[johngeorge]

Reminds me of my high school days A long, long time ago in a galaxy far, far away: Blue Moon

[tradermama]

silver now has it's RS (relative strength) turn to X..more fuel to the fire that the rally continues..buy the dip! TM

[dharma]

w/today being options expiration, and the high level of calls@the 1650 strike, i thought yesterdays action was the initial move down to make sure all those call holders came up empty handed. its still early in the day. there are lots of irons in the gold fire. i personally want to see 1681 and 1700 taken out, then i think we could be on our way, w/each successive rally, volume has been increasing. silver is leading, and when silver gets going it will not be for the faint of heart. for now we are in a budding move which is 150 off the lows. i do suspect as the seasonal 4 year chart indicates, we will see some form of monetary injection before the election. both Os and bernake's jobs are dependent upon it. jackson hole on the horizon. this is getting interesting, especially after a year of consolidation dharma

[dharma]

hathaway
http://www.kingworld...n_Hathaway.html

sprott
http://www.theaurepo...om/pub/na/14210

dharma

[stubaby]

GSR breaks below 200-Day MA - next and most critical level appears to be 5.24 - a break below and entire wedge should be retraced towards 3.15 (of course 4.24 would be confirmation). But a "bounce here" to re-set would be welcome and constructive, IMHO.

http://stockcharts.c...71968&r=215.png



stubaby

Note how many DON'T believe in this move

[dharma]

cycles and fractals are different the fractal i see @ present in the miners is the W pattern. which is present on all the mining indexes this pattern was also present @ the lows of 2008 , the result was a 400% gain in the mining indexes i suspect this happens again. sometimes the commercials get over run. then of course, since they are friends w/the exchange members , the rules change. that is a topic for another day the market is still overbought on a daily chart, but stepping back to a monthly , the oscillators are low, so any correction should be short lived dharma

[tria]

cycles and fractals are different
the fractal i see @ present in the miners is the W pattern. which is present on all the mining indexes
this pattern was also present @ the lows of 2008 , the result was a 400% gain in the mining indexes
i suspect this happens again.
sometimes the commercials get over run. then of course, since they are friends w/the exchange members , the rules change. that is a topic for another day
the market is still overbought on a daily chart, but stepping back to a monthly , the oscillators are low, so any correction should be short lived
dharma

I agree with your assesment dharma. Although many things have deteriorated rapidly the time and price do not favour a correction now.

The breakout was from 1630. I believe it is early to be tested so soon after the breakout, and give the ones who missed it the opportunity to enter so soon after the breakout. More possible is to trade sideways to up to let more people become long, and then to drop it. Funds must show some exposure to Gold after the recent technical developments by months end.
It makes no sense to sell @1655 in order to buy back @ 1635-1630.

It is nice that Draghi does not talk till 9/6. The Gold/euro is ready to break out to new highs, and maybe before he talks he will intervene like in the past. A short term high early next weel is probable.

-tria

[stubaby]

cycles and fractals are different
the fractal i see @ present in the miners is the W pattern. which is present on all the mining indexes
this pattern was also present @ the lows of 2008 , the result was a 400% gain in the mining indexes
i suspect this happens again.
sometimes the commercials get over run. then of course, since they are friends w/the exchange members , the rules change. that is a topic for another day
the market is still overbought on a daily chart, but stepping back to a monthly , the oscillators are low, so any correction should be short lived
dharma

dharma:

I like the fact that we are pulling back here before Friday's events: the "full moon" and the B-man's speech at J-Hole!

stubaby

[dharma]

i appreciate others posting and sharing their thoughts and ideas seems no one believes the move they are waiting for the other shoe, you know the 3rd one to fall. in spain the banks are having massive runs. this will be problematic. we get closer and closer to the election w/the economy still in the doldrums. mitt has said he will fire bernake . so its in the burnacks interest to get the o man reelected. then all the saber rattling continues. of course i dont want war. the fundamentals, are quite supportive of higher gold prices, even the oil/gold ratio says gold should be higher. shhhhhhhhhhhhhh is the word then whenever it happens that we get to 1900 the reason not to buy will be the obvious double top. man o man what a set up dharma

[johngeorge]

Miners were overbought but now pulling back. Full moon this Friday the 31st could mean a pullback is in store for gold. Maybe a good time frame to add to or start positions in PM's and/or miners. My long term (10 year) monthly chart of gold went on a buy signal in July. Gold would need to pull back below 1620 to negate that signal. Long term (10 year) monthly chart of silver indicates it must clear 31 and hold that for a buy signal. Good luck to all.