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above 1805 and its game on


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#1 dharma

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Posted 02 January 2013 - 10:13 AM

although this is a nice rally off the lows, it still has proved nothing. i believe what the broad markets are telling us world wide is reflation is good for stocks, much the same as qe1 did in 09. the dollar will hit the skids in 13 patience is required , currencies go into a trend for a very long time. since 01 , when the dollar topped out, the downtrend continues . consolidations are part of it when gold goes up , silver (the more speculative metal)is the lead steed. i didnt trade silver in the last bull, but i watched it very carefully. and when it topped it was locked limit down for weeks. i dont think this time will be different. dont fall in love, or if you do, dont get attached @market lows, or near market lows, sentiment in this sector goes to extremes. it was no different @these lows. i post the figures when they get extreme. hopefully someone takes heed. and of course on the board the bears get loud. sure the world is in the grips of a giant deflation, and that is and will be the story. the keynesian cbs will do what they are doing and kick it up several notches. i fully expect the boj to join the usa, england, and euro land. remember in weimar stocks went up in the initial stages of the hyperinflation. i dont expect hyperinflation. but i do think a 70s style stagflation will be the name of the game. which will cause confusion. i agree w/stubaby on ng. if you feel to diversify ng is a good vehicle. as i have stated, hopefully not ad nausea, i think we are beginning phase 3 of the bull. in elliott terms wave 5. for commodities wave 5 is the big one and it can extend. dharma "Ring the bells that still can ring Forget your perfect offering There is a crack, a crack in everything That's how the light gets in." Leonard Cohen

Edited by dharma, 02 January 2013 - 10:14 AM.


#2 tradermama

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Posted 02 January 2013 - 10:34 AM

I agree..above 1805 game on...glad you started a new thread..and hopefully the good Dr can get some needed rest and move on to a happier place. Just an update on the overall market too as I think that will tie into how high gold goes...we broke Dec highs on the indexes..based on Merriman's belief we have a good chance of making all time highs..target around 14,500-15k..but not right away..and this chives with my nyse bp which had a buy signal a week or so ago..when it turned to X..which I posted in my Merriman/pnf thread that got poisoned. So glad I found that ignore button. Watch the bond market ..as it is showing signs of a turn here..if that happens..that helps the metals/equities imo.. TM

#3 dharma

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Posted 02 January 2013 - 11:56 PM

here is alf fields E wave interpretation of the gold market
http://www.jsmineset...-analysis-2013/

dharma

opinions?

#4 stubaby

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Posted 03 January 2013 - 03:44 PM

FINAL "knockout" in progress - looking to add some limit order bids for tomorrow!

FED MINUTES

stubaby B)


Note: Filling some gaps - so far no major damage - but could get ugly here for a good shake!

Edited by stubaby, 03 January 2013 - 03:54 PM.


#5 beta

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Posted 04 January 2013 - 12:25 AM

here is alf fields E wave interpretation of the gold market
http://www.jsmineset...-analysis-2013/

dharma

opinions?



thanks for posting AF's update, dharma -- unless $gold falls below 1560-1570, I believe his count will be proven correct.

Edited by beta, 04 January 2013 - 12:25 AM.

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#6 dougie

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Posted 04 January 2013 - 02:29 AM

Alf says below 1636 and the count is dead

here is alf fields E wave interpretation of the gold market
http://www.jsmineset...-analysis-2013/

dharma

opinions?



thanks for posting AF's update, dharma -- unless $gold falls below 1560-1570, I believe his count will be proven correct.



#7 beta

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Posted 04 January 2013 - 02:42 AM

Alf says below 1636 and the count is dead

here is alf fields E wave interpretation of the gold market
http://www.jsmineset...-analysis-2013/

dharma

opinions?



thanks for posting AF's update, dharma -- unless $gold falls below 1560-1570, I believe his count will be proven correct.


I think there's another variation on his count that keeps the "C" wave valid > 1560. Will try to post charts this weekend.
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#8 tria

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Posted 04 January 2013 - 09:41 AM

Weakness to week's end was expected and the 1635 area to be tested. This came just in time. Weakness should end very soon. I will buy back today the NUGT position that I sold a few days ago, and maybe add more on Monday. -tria

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#9 Russ

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Posted 04 January 2013 - 11:36 AM

Tria, what methods are you using to make your predictions?




Weakness to week's end was expected and the 1635 area to be tested. This came just in time.

Weakness should end very soon. I will buy back today the NUGT position that I sold a few days ago, and maybe add more on Monday.

-tria


"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong



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#10 dharma

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Posted 04 January 2013 - 12:12 PM

if bull markets were easy, every one would be rich. that is hardly the case. buy gold and you are taking the govt head on. they have their currency that they want everyone to hold. if you think the last bull was any different, think again.
the moment they stop qe the financial landscape changes dramatically. the world you know is obliterated. its a ridiculous notion. its survival the whole western world and soon japan will be qe. corrections are part of the process
i read this this am http://www.themarket...-crash-in-gold/
its another elliott count.
i am in buy mode , patiently waiting for divergences, none develop . i ride w/what i got . they develop i buy
this last 2 day rally obliterated those who bought the strength.
the fundamentals keep improving for the metals. the games will continue however. outstanding returns will happen
China’s December nonmanufacturing PMI rose to 56.1 from 55.6.
GLD fell back to just above its 200-Day MA and its holdings dropped by nearly 10 tonnes to 1,340 tonnes.
The Fed’s balance sheet was released after the close today, and we learned that it grew roughly $10 Bln to $2.918 Trln as of yesterday. Given that the Fed didn’t start buying securities for QE-3 until today for this month, that means we can project that the Fed’s balance sheet will be roughly just over $3 Trln by the end of the month and at a new all-time high, which would imply a minimum of $1750 gold.
Gold sentiment remains at suicide levels...
HGNSI unchangedat -12.5% today.
MarketVane’s Bullish Consensus fell a point to 60% today.
dharma