70 replies to this topic

[dharma]

the entire metals market might rotate into equities and one wouldnt notice it

right you are , the gold market is miniscule.
this may take more time to establish a firm bottom
many gold bugs will not be able to come back. they have been decimated
dharma

[DrSP]

Gold flies don't leave "Albert Einstein" alone as well. His name tarnished for fool's gold.

[dharma]

large specs short , w/a large short position-check sentiment in the garbage can-check gold/silver/mining indexes all oversold and diverging on daily charts -check folks convinced the fed will leave, but they havent really looked the fed is staying in hotel california=you can check out , but you can never leave friday jobs report possibility for one more down to below 2.20-tomrorrow or friday ding a ling !ding a ling! dharma

[dharma]

fridays have not been kind to gold although the jobs report tomorrow should be poor dharma

[dharma]

having touble @the hourly 65ma the fractal looks similar to one that preceded a drop silver remains firm could be one more flush. being early could be costly dharma

[dharma]

fading into obscurity
the cot was quite friendly
http://www.graceland...13mar9gold1.png
dharma

[dharma]

what i see and feel is the gold market has essentially moved up for 11-12 years. the last 18 months have consolidated those gains. the same crowd that was hollering too far too fast in 80 are hollering that now. they believe gold is finished. they are being fed a steady diet of real estate is improving, sales are up. the general economy is getting in gear and moving higher. risk on is not necessary in this environment, interest rates will be rising soon, as a reflection of the improving economic conditions. so the risk on has/is languishing. i remember in 2k hearing an interview of the guy who brought csco to ipo. he was long gone, and although he had some vision, he didnt make a killing on csco, he made a profit. bull markets reach full expression. full potential. gold has yet to give its full expression. corrections are part of the process. there are bears everywhere, sentiment has been decidedly bearish for months and months now. it seems to me everyone wags their finger and says if gold breaks this point it is going to triple digits and so on. the fact remains. that gold remains well supported and the weekly and monthly charts look like a high level consolidation. none of the issues that caused the mess are being addressed. i hope it happens, but i only see the situation getting exacerbated. i went to my acct today, he put up a gld chart and gave me lessons on what to buy and when to buy. its the status quo thought. sure i see the possibility of gold breaking the 1520s lows, but i give it a small possibility. the market is oversold, bearishness is pervasive, signs of a bottom. i remain in the camp, the lows are in. and wake me when we are climbing the ladder. this correction has served its purpose. the weak players have sworn off the pm drug. wave 4 will soon turn into wave 5 and the disbelief will carry over to 3 of 5 when it will change again. rant off dharma

[jabat]

Dharam- Read your valuable input everyday. Please continue.

Some good charts from other website
http://blog.kimblech...-to-take-place/

http://blog.kimblech...ouncemar121.jpg

[stubaby]

Dead-Cat bounce OR beginning of new impulse higher (long corrective over)?????


Need to see HUI:GLD move above near-term resistance (2.35):
http://stockcharts.com/c-sc/sc?s=$HUI:GLD&p=D&yr=0&mn=10&dy=0&i=p72901774897&a=282543850&r=960.png

HUI:GOLD back above 0.25 on weekly:
http://stockcharts.com/c-sc/sc?s=$HUI:$GOLD&p=W&yr=9&mn=0&dy=0&i=p10211120851&a=259871959&r=4670.png


stubaby

[RagingSpartan]

what i see and feel is the gold market has essentially moved up for 11-12 years. the last 18 months have consolidated those gains. the same crowd that was hollering too far too fast in 80 are hollering that now. they believe gold is finished. they are being fed a steady diet of real estate is improving, sales are up. the general economy is getting in gear and moving higher. risk on is not necessary in this environment, interest rates will be rising soon, as a reflection of the improving economic conditions. so the risk on has/is languishing. i remember in 2k hearing an interview of the guy who brought csco to ipo. he was long gone, and although he had some vision, he didnt make a killing on csco, he made a profit. bull markets reach full expression. full potential. gold has yet to give its full expression. corrections are part of the process. there are bears everywhere, sentiment has been decidedly bearish for months and months now. it seems to me everyone wags their finger and says if gold breaks this point it is going to triple digits and so on. the fact remains. that gold remains well supported and the weekly and monthly charts look like a high level consolidation. none of the issues that caused the mess are being addressed. i hope it happens, but i only see the situation getting exacerbated. i went to my acct today, he put up a gld chart and gave me lessons on what to buy and when to buy. its the status quo thought. sure i see the possibility of gold breaking the 1520s lows, but i give it a small possibility. the market is oversold, bearishness is pervasive, signs of a bottom. i remain in the camp, the lows are in. and wake me when we are climbing the ladder. this correction has served its purpose. the weak players have sworn off the pm drug. wave 4 will soon turn into wave 5 and the disbelief will carry over to 3 of 5 when it will change again.
rant off
dharma

dharma. the issue with gold is overvaluation. it has fully priced in monetary expansion. i have stated before that when you look at gold relative to housing, stocks, income levels etc... gold is very overvalued. as an example, in 2011 it took a little over 100 ounces to buy a home on a national average level. in some places down south the ratio was even lower. selling gold to buy income producing properties in the hardest hit areas is the best deal on the board right now. 8-10% cashflow and imho a good chance at 50% appreciation over the next 10 years.