203 replies to this topic

[dougie]

Hadik sees end of month

all i can say that is positive right now in the gold market is the 1179 lows are still in tact. gold is either continuing to base here, or is headed to break the 1178 lows. there was a very large order placed this morning which took the wind out of the gold market and put it on the defensive. it seems the way to get rid of the myriad of problems is hit the gold market
HGNSI fell 6.7 points yesterday to -26.7% / MarketVane’s Bullish Consensus fell a point today to 38% (the lowest level since 38% was last hit on July 10th when Gold was at $1250)
so from a contrarian perspective being a bull is against the crowd. if we can rally from somewhere around these levels it will set up a bull trap.,having taken out the 2 previous lows.
dharma

i think hadik is referring to the broad market there. he is expecting a rally into november
his date was the 9th for gold
he sends me stuff quite frequently. i am not a subscriber. he has been spot on!

[senorBS]

interesting miner action, finally showing some relative strength with gold down almost $30, could be interesting if they managed to close higher today, watching Senor

[dharma]

here is the gann guys take this am
http://www.ganngloba...a4968c5f23b812b

dharma

[dharma]

the constant beatings in gold have changed the psychology of the market. as i pointed out , almost 8k =800,000 ozs were sold over a 3 minute period around the time of the london pm fix friday. ie, 8:42 on friday. this is what happened in april and forward. if it was a short seller, he/she wouldnt lean on the market , but rather sell what they have in the course of the day, they sell it all @once over a 3 minute span. i look for the far east physical buyer to take over this market over time. i read where kuroda, head of boj, is ready to take more drastic measures to stimulate the japanese economy. from the get go, i never thought, and still am quite skeptical that we face a hyperinflatonary environment, but rather i expect stagflation. all of this printing , will lead to fiat buying less. marty has confirmed my thoughts. we have either begun wave 3 or are very close to doing so. the psychology is right. those looking for an immediate parabolic, are due for more disappointment. a reminder: in 79- the shah of iran was toppled, russia invaded afghanistan, interest rates were near and approaching 15%, the hunts had a corner on the silver market. and all of this happened between sept 79 -jan 80 . the pieces of the puzzle are coming together no doubt. it will take some time for the gold market to express that. dharma

[dharma]

i have neglected to point out that gold has taken out its 2 last lows in the 1270 area , silver did not. as the gann guy points out this is a bear trap. folks sold gold below those lows, but did not do so for silver. this creates a bear trap for gold.
dharma
gann guy
http://www.ganngloba...3df1291a9a0039e

Edited by dharma, 14 October 2013 - 11:32 AM.

[senorBS]

took another miner trading position in GDX this morning, fairly aggressive with tight stop, DYODD and all that Senor

[dharma]

yes, we are still groping for a bottom. the nice thing about the market is the stop out points are not far away
the gann guy, speaking of stops,was stopped out this am when 1251 was touched. here is his latest missive http://www.ganngloba...d878295f0b0875b
well they have taken the indian buyer more or less out of the market. smuggling statistics are unavailable. i see where refineries in india are under duress. and who knows what the chinese govt is up to , they may even help suppress the price!?
for all the world to see how our politicians are bent on problems w/no solutions. the leader has dug his heels in and will not talk of compromise or concessions. china has called for "de-americanization" even called for a replacement for the dollar as the reserve currency. of course as the clock strikes the 11 hour , there will be some concessions and an agreement reached. and these guys/gals continue to get reelected. as the country approaches an abyss.
i have no margin. no doubt. and continue to trade. the cycles continue to point to a low any time now-for the next month or so.

dharma

[senorBS]

yes, we are still groping for a bottom. the nice thing about the market is the stop out points are not far away
the gann guy, speaking of stops,was stopped out this am when 1251 was touched. here is his latest missive http://www.ganngloba...d878295f0b0875b
well they have taken the indian buyer more or less out of the market. smuggling statistics are unavailable. i see where refineries in india are under duress. and who knows what the chinese govt is up to , they may even help suppress the price!?
for all the world to see how our politicians are bent on problems w/no solutions. the leader has dug his heels in and will not talk of compromise or concessions. china has called for "de-americanization" even called for a replacement for the dollar as the reserve currency. of course as the clock strikes the 11 hour , there will be some concessions and an agreement reached. and these guys/gals continue to get reelected. as the country approaches an abyss.
i have no margin. no doubt. and continue to trade. the cycles continue to point to a low any time now-for the next month or so.

dharma

Dharma, 5-day DSI gold sentiment at 17% Bulls, 10-day at 22.6%, 21-day at 31.1%. Of course it can get more extreme but these are very low readings, I think this is going to be a very ugly grinding type bottom

Senor

[dharma]

yes, we are still groping for a bottom. the nice thing about the market is the stop out points are not far away
the gann guy, speaking of stops,was stopped out this am when 1251 was touched. here is his latest missive http://www.ganngloba...d878295f0b0875b
well they have taken the indian buyer more or less out of the market. smuggling statistics are unavailable. i see where refineries in india are under duress. and who knows what the chinese govt is up to , they may even help suppress the price!?
for all the world to see how our politicians are bent on problems w/no solutions. the leader has dug his heels in and will not talk of compromise or concessions. china has called for "de-americanization" even called for a replacement for the dollar as the reserve currency. of course as the clock strikes the 11 hour , there will be some concessions and an agreement reached. and these guys/gals continue to get reelected. as the country approaches an abyss.
i have no margin. no doubt. and continue to trade. the cycles continue to point to a low any time now-for the next month or so.

dharma

Dharma, 5-day DSI gold sentiment at 17% Bulls, 10-day at 22.6%, 21-day at 31.1%. Of course it can get more extreme but these are very low readings, I think this is going to be a very ugly grinding type bottom

Senor

it already is, neither side can claim victory. as you and i point out sentiment is @extremes, sure it can get more extreme . gold is among the most hated assets-ever. the world watches while both sides squabble , w/the dollar being the reserve currency. world trade uses the dollar. what the world doesnt need now is a reserve currency of instability

dharma

Edited by dharma, 15 October 2013 - 11:52 AM.

[andiron]

h&S shorts can be squeezed nicely here in gold..irrespective of Gold's LT target