320 replies to this topic

[JGUITARSLIM]

From MPTrader...

[johngeorge]

I lean toward what this man has to say

Short to very short term I see the GDX heading lower IF it breaks below 25.08. Declining MACD, renewed down volume, Stochastics crossover, and falling RSI 9. For gold my line in the sand is 1284. Senor BS graciously listed the fib retrace numbers for gold and silver above.

horrible action in gold..it is not action well to say the least...
JG new missive

[johngeorge]

'We're going to replace Bubbles Ben with Calamity Janet': David Stockman

[senorBS]

From MPTrader...

your interpretation is the one I prefer, however the correction of the 1179 to 1434 rally could morph into a double zigzag and decline below 1291 and perhaps bottom near that .618 retrace at 1276-1277, if we saw an extended 5th wave on the rally from 1179 we could also hit the 1272 level from which the extended 5th began, hence I view the 1272-1277 zone as muy importante bull/bear support - my dos centavos

BSing away

Senor

[Russ]

quote name='johngeorge' date='Sep 23 2013, 11:29 AM' post='671603']
I lean toward what this man has to say

Short to very short term I see the GDX heading lower IF it breaks below 25.08. Declining MACD, renewed down volume, Stochastics crossover, and falling RSI 9. For gold my line in the sand is 1284. Senor BS graciously listed the fib retrace numbers for gold and silver above.

Good interview JG, Dr. Paul Craig Roberts former assistant secretary of the treasury states the fed is using naked puts to short gold. As he says they want to keep the dollar strong which also keeps the bond market strong, once confidence is lost in the dollar and there is a run on the dollar the system will start to collapse.

Edited by Russ, 24 September 2013 - 07:34 AM.

[dharma]

agree w/you russ that is the story in a nut shell CONfidence
martys take http://armstrongecon.../gold-update-3/
he is a realist, not like some of the pom pom waving guys @kwn, who are quite sure the parabola is here
this chart of silver is quite fascinating http://kingworldnews...dy_To_Soar.html
the one of gold has been talked about here. both by me and senor, and perhaps some others
tomorrow is options expiration, so this type of action is to be expected
fiats are a confidence game , once the confidence is lost , its game set and match. we are a ways away from that.
folks dont think about the deficits or how they will be paid. now bail in their bank accounts and its a whole new ball game
right here , support is being tested 1309 is my # , 1293,1277, 1261 . october is when the 60 and 40 yr cycles bottom.
dharma

[senorBS]

XAU, HUI, and GDX moved below the Sep 13 lows late yeterday and earlytoday, key Q is whether this is now a daily third wave down in those indices or we are ending an "abc" correction from the late August highs.I did take a light long trading position, stop below the morning lows Senor

[dharma]

XAU, HUI, and GDX moved below the Sep 13 lows late yeterday and earlytoday, key Q is whether this is now a daily third wave down in those indices or we are ending an "abc" correction from the late August highs.I did take a light long trading position, stop below the morning lows

Senor

i am looking @ the june 28 lows to the 1434 highs as a 5, which means, if this is correct @ the least we get another 5 up, i am saving buying power in the event the .618 lows get tested =1270s area
this is week 13 from the june 28th lows. trough to trough is usually 15-23 weeks , puts into november
dharma

[dougie]

XAU, HUI, and GDX moved below the Sep 13 lows late yeterday and earlytoday, key Q is whether this is now a daily third wave down in those indices or we are ending an "abc" correction from the late August highs.I did take a light long trading position, stop below the morning lows

Senor

i am looking @ the june 28 lows to the 1434 highs as a 5, which means, if this is correct @ the least we get another 5 up, i am saving buying power in the event the .618 lows get tested =1270s area
this is week 13 from the june 28th lows. trough to trough is usually 15-23 weeks , puts into november
dharma

Yep agreed; a brother up is called from for sure: many wil take that to be THE up they have waited for only to be disapointed.

But from here that brother come I agree dharma: some more down might be in store first

[Russ]

XAU, HUI, and GDX moved below the Sep 13 lows late yeterday and earlytoday, key Q is whether this is now a daily third wave down in those indices or we are ending an "abc" correction from the late August highs.I did take a light long trading position, stop below the morning lows

Senor

Looks like a successful test of the recent lows just happened?

http://bigcharts.mar...&mocktick=1.png