29 replies to this topic

[DrSP]

This Gold market will clean up all the dip buyers in the next 2 years. Gold doesn't really have to go to 0. The dip buyers who are used to trade by buying low and selling high will all be cleaned up.

[Psycho]

I am all in. UP or DOWN. I ain't selling my gold, silver or miners. So let it be written, so let it be done.

[bunker]

Right now gold has failed to maintain its optimum moving average (150 days per Terry Laundry) for almost 2 months. That's not a good sign.

http://stockcharts.c...amp;a=286143929

I see GLD hitting the bottom of its Keltner bands at 142. MACD should fall below the dashed green line before a bottom is found.

Interestingly enough, in a contrary/ fundamental way, the Fed released this recently:
http://libertystreet...ng-crisis-.html

They used GOLD

[beta]

Yes, GLD 142 sounds right.

Meanwhile, "whirlpool action" (*) on GDX continues -- taking profits @ 35:

http://stockcharts.c...62464507625.png


(*) Charybdis to the Greeks: http://en.wikipedia.org/wiki/Charybdis

Edited by beta, 05 March 2013 - 01:22 AM.

[dougie]

why 131 Semi?
I show 120- 128 as the magic area

See, what happened here is gold went down, so guys sold gold and substituted with some "cheap" miners. Now the miners got cheaper, so they are getting out. In the meantime, gold went lower too, so now it looks like a "bargain". I would think we'll see a little bump higher in gold as money is redirected from the miners... and THEN the NEXT LEG DOWN IN GOLD.

But make no mistake, the gold miners with the XAU under 131 are in a HEAP o' TROUBLE....

So with a little delay here and a short rally, gold should break the 1522 and down we go.

Solamente caca de vaca...

[bunker]

Yes, GLD 142 sounds right.

Meanwhile, "whirlpool action" (*) on GDX continues -- taking profits @ 35:

http://stockcharts.c...62464507625.png


(*) Charybdis to the Greeks: http://en.wikipedia.org/wiki/Charybdis

I think we arrived in port yesterday. Try the Kazantzakis Modern Sequel to the Oddysey.

http://stockcharts.c...amp;a=283174436

[SemiBizz]

See, what happened here is gold went down, so guys sold gold and substituted with some "cheap" miners. Now the miners got cheaper, so they are getting out. In the meantime, gold went lower too, so now it looks like a "bargain". I would think we'll see a little bump higher in gold as money is redirected from the miners... and THEN the NEXT LEG DOWN IN GOLD.

But make no mistake, the gold miners with the XAU under 131 are in a HEAP o' TROUBLE....

So with a little delay here and a short rally, gold should break the 1522 and down we go.

Solamente caca de vaca...

That's what I'm expecting. Bulls are still in the denial phase. The panic phase should begin soon.

so you don't think that the most extreme weekly technical readings since the mid 90's in many cases already represents a panic phase? "technically"
speaking this is worse then the 2008 bottom in the miners, can it get worse? si it can but in the grande scheme of things it's 10-15 yr muy malo time right now

Senor

All those "indicators" are useless to me. All I need to know here is volume accelerated in the XAU dramatically yesterday. Even if we have a bounce here, that low will be tested...

[SemiBizz]

why 131 Semi?
I show 120- 128 as the magic area

See, what happened here is gold went down, so guys sold gold and substituted with some "cheap" miners. Now the miners got cheaper, so they are getting out. In the meantime, gold went lower too, so now it looks like a "bargain". I would think we'll see a little bump higher in gold as money is redirected from the miners... and THEN the NEXT LEG DOWN IN GOLD.

But make no mistake, the gold miners with the XAU under 131 are in a HEAP o' TROUBLE....

So with a little delay here and a short rally, gold should break the 1522 and down we go.

Solamente caca de vaca...

I traded gold stocks for years in this XAU trading range... I know it well

[dougie]

as you said, the range was for years , so it seems UNLIKELy that the MAGIC number is 131 instead of a broader range that the charts show persisted for years

Edited by dougie, 05 March 2013 - 12:03 PM.

[dougie]

we hit the 61% fibo retrace of the entire move up in XAU off 08 lows seems like a good place to start accumulating though some targets as low as 120 might come into play