Looks that way. Bad day for PMs today. Check my Elliott post recently. We have taken out key levels on the gold indices and gold is barely hanging on to $383 level. Trading this sector only now.
cheers,
john
New lows coming for PMs?
Started by
SilentOne
, Jun 14 2004 04:39 PM
6 replies to this topic
#1
SilentOne
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Posted 14 June 2004 - 04:39 PM
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain
#2
stockbucks_coffee
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Posted 14 June 2004 - 06:02 PM
from the another post, I am thinking about going long tomorrow as the xau/hui is ST oversold and may be due for a bounce. will see the how indexes behave tomorrow. SBC.
#3
TomD
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Posted 14 June 2004 - 10:23 PM
My Webpage
another stream of thought is to see what happens with Fed...I think if he raises only .25 (or less)....that might make for a long entry?
kinda of sell the rumour buy the news headspace.
would like to see yield spreads change direction and China may be a problem most people aren't considering
link above has some charts that may be of interest
another stream of thought is to see what happens with Fed...I think if he raises only .25 (or less)....that might make for a long entry?
kinda of sell the rumour buy the news headspace.
would like to see yield spreads change direction and China may be a problem most people aren't considering
link above has some charts that may be of interest
Health Canada has just released a study which shows that 100% of the population who have been exposed to whole milk products will die.
#4
stockbucks_coffee
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Posted 14 June 2004 - 11:41 PM
Thanks for the link, TomD.
I noticed that you're using TYX/IRX. Steve Saville uses both TYX/IRX and TYX-IRX. I use TYX-IRX for my gold signals but the TYX-IRX ratio been out of sync much of this year since mid January. Wondered if you ever used TYX-IRX? It almost gets the same ratio as TYX/IRX but it still haven't completely broken down yet on its chart pattern (which is why it's out of sync with the breakdown of gold.) SBC.
#5
TomD
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Posted 15 June 2004 - 12:32 AM
No I don't..indeed I am not quite sure what it is...is there a way of getting on stockcharts?
From what I understand Saville is still bullish on the sector and I have a lot of time for his work
From what I have read the yield spread is more accurate for looking at stocks vice bullion itself
hmmm...looking at the golds again...you know I would love to see some panic selling going into the Fed announcement.....I cannot beleive he will raise more than .25 and I think the market has "whisper" number of .5
the yield spreads and the dhina chart were horrible today...so I am leaning on the cautious side...the fact that gold was down even with USD down does not pass the sniff test either.
but when I look at the pattern and the way the stochastics are lining up...it sure looks like it has at least a C leg up...but that is EWA...and I never base a trade on that
like you I will be watching too
Health Canada has just released a study which shows that 100% of the population who have been exposed to whole milk products will die.
#6
SilentOne
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Posted 15 June 2004 - 04:49 AM
There will be trading opportunities in this sector, but buy and hold is not on for me right now. The one thing I look at is the MACD weekly. It started to turn in May, then rolled.
http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=$hui,uu[h,a]waclyyay[df][pb50!b200][vc60][iub14!la12,26,9]&r=9280.gif
The Euro looks like it is in a bear flag and ready to drop out of its 3 year channel. If this happens, PM selling will accelerate IMO.
cheers,
john
http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=$hui,uu[h,a]waclyyay[df][pb50!b200][vc60][iub14!la12,26,9]&r=9280.gif
The Euro looks like it is in a bear flag and ready to drop out of its 3 year channel. If this happens, PM selling will accelerate IMO.
cheers,
john
"By the Law of Periodical Repetition, everything which has happened once must happen again and again and again-and not capriciously, but at regular periods, and each thing in its own period, not another's, and each obeying its own law ..." - Mark Twain
#7
stockbucks_coffee
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Posted 15 June 2004 - 09:00 AM
I meant the yield spread, it's charted as ($TYX / $IRX) as shown on your chart at your website. Steve had used ($TYX - $IRX) in addition to the $TYX/$IRX. Just wondered if you tried that way before (the former divides $TYX by $IRX... whereas the latter $TYX is subtracted by $IRX.) Apparently you had not. Thanks, SBC.No I don't..indeed I am not quite sure what it is...is there a way of getting on stockcharts?
![http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=$hui,uu[h,a]waclyyay[df][pb50!b200][vc60][iub14!la12,26,9]&r=9280.gif](http://stockcharts.com/def/servlet/SharpChartv05.ServletDriver?chart=$hui,uu[h,a%5Dwaclyyay[df%5D[pb50!b200%5D[vc60%5D[iub14!la12,26,9%5D&r=9280.gif){kind=link}