320 replies to this topic

[dougie]

nice call !
You might see that gap above at 27 filled

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

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

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

yes, that is my preferred possibility. i bought yesterday and today, will add more in the 1270s level or after a 1 up a 2 down.
dharma

[dharma]

the thing is , seasonals are now quite favorable. diwali is the start of the indian gold buying season. however, w/the new taxes and the govt casting its hand over the gold market, who knows what real buying will occur. in the past, there was no doubt. now how much gold will be allowed to be imported. i get tired of reading about gold manipulation by bullion banks. my job is to make money the game has always been rigged, the question is to what extant? also, on my radar, is this is crash season for the broads. this guy thinks that the crash of the 70s gold went up during the crash, i dont know 1st hand , i started trading in 78.http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/9/25_This_Is_Why_The_Price_Of_Gold_Is_Now_Set_To_Super-Surge.html what i do know is sentiment is near to when gold was @1180 . as a contrarian, its a good thing. waiting for the market to tip its hand. 1309 brought out support dharma

[senorBS]

the thing is , seasonals are now quite favorable. diwali is the start of the indian gold buying season. however, w/the new taxes and the govt casting its hand over the gold market, who knows what real buying will occur. in the past, there was no doubt. now how much gold will be allowed to be imported. i get tired of reading about gold manipulation by bullion banks. my job is to make money
the game has always been rigged, the question is to what extant?
also, on my radar, is this is crash season for the broads. this guy thinks that the crash of the 70s gold went up during the crash, i dont know 1st hand , i started trading in 78.http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/9/25_This_Is_Why_The_Price_Of_Gold_Is_Now_Set_To_Super-Surge.html
what i do know is sentiment is near to when gold was @1180 . as a contrarian, its a good thing. waiting for the market to tip its hand. 1309 brought out support
dharma

amigo, today's rally if it sustains and extends could be the "first" important piece of evidence large wave dos declines have bottomed - especially in the miners and gold and silver as well. Declines to lows the past few days in the XAU-HUI-GDX are clearly corrective from the rally highs, if bullish third waves could unfold - we see.

Senor

Edited by senorBS, 25 September 2013 - 10:09 AM.

[dharma]

@this point, and i recognize that it is early, it looks impulsive. now , options expiration out of the way. next up the debt ceiling yes, it could very well be wave 3 just beginning i didnt finish my buying. i let some get away dharma

[dougie]

I dont see any clear impulsive action today

[andiron]

gold target first 1275..then 1170 rest is noise

[Russ]

Senor, What do you think of Gary Wagner's new bearish view on Gold, I am not saying I think he is right about this but its worth consideration...

http://1.bp.blogspot...d - Gary Wagner

[dharma]

right in right here right now, there are alot of factors that called the june 28th lows were the bear market lows. time bands put this as a real possibility, however @this point there exists the possibility that lower lows are in the cards, i give it about a 30% chance . if that possibility comes into play , then it will occur before november plays out. as i said the other day, sentiment remains stubbornly bearish dharma

[senorBS]

right in right here right now, there are alot of factors that called the june 28th lows were the bear market lows. time bands put this as a real possibility, however @this point there exists the possibility that lower lows are in the cards, i give it about a 30% chance . if that possibility comes into play , then it will occur before november plays out. as i said the other day, sentiment remains stubbornly bearish

dharma

agree and that is why I am being muy careful with only light trading positions, too many possibilities

Senor