112 replies to this topic

[johngeorge]

My 2 cents. The daily HUI chart shows it is flirting with a short term sell signal if it closes below 237. Regarding gold my daily chart has support @ 1321 and 1316. Below that and it is a short term sell. With the US dollar falling out of bed today it would seem be bullish for gold and commodities in general.

[senorBS]

what develops in the Crimea and Ukraine this weekend could make Sunday night and Monday very interesting Senor

[senorBS]

what develops in the Crimea and Ukraine this weekend could make Sunday night and Monday very interesting

Senor

gold trading at 1343 tonight and silver at 21.47, these type of news related moves one has to be very careful with, we will see how things shake out overnight and how the U.S. opening looks tomorrow. I keep thinking of the weakening U.S. position as a superpower and the dollar as reserve currrency, with our "power" dwindling and Obama appearing weak, frankly he can't do much, I have to wonder about where the U.S. DOLLAR goes from here?

Senor

[dougie]

IMO the dollar will be defended as the reserve at all costs even if that means trashing the market

Edited by dougie, 02 March 2014 - 09:39 PM.

[johngeorge]

dougie

I agree and think it is a given the US Dollar will be rigorously defended and remain a "safe haven" play for the ST - IT. Currencies @ WSJ In the LT the US Dollar PNF and Weekly charts have the dollar looking to move lower.

[senorBS]

sold the trading positions I bot Friday, still modestly long Senor

[dharma]

every one has to play this rally as they see fit. i dont think buying in this area is prudent however. i do think the atmosphere in the gold market has changed . it has the support of many of the commodity sectors. take a swing around the various commodity complexes. mars went retrograde on the 1st , he is the commander in chief of the armies. dont get me wrong, i dont want war in any shape or form, but mars changing direction has escalated the situation in the ukraine. it bears watching then you have abe and kuroda bent on producing some inflation in japan. their aggressive policies have not born fruit in that regard, i expect them to become even more aggressive. they have also removed all taxes on stock market investing in japan. which makes that a desirable investiment then we have the indian elections @ the end of april. i dont agree w/lassonde @all. when chidambaram raised the taxes on gold imports to 10% then disallowed importation of gold , gold broke the 1500s the indian buyer is 100tonnes a month. his loss in the market has had significant effects on the equation. modi is the front runner and is way out in front in the polls. he is gold friendly. w/the indian buyer back in the market they support the floor in gold prices. for me above 1434 gives me confidence i am going the right way. i expect that marty, in retrospect will make the 1180s low fit his model and say he called the low. its why i do my own work the volume in the miners has been impressive. lots of money has come into the sector. we will see if this new blood is willing to defend prices. i expect the bears to short this thing all the way to the 1924 highs. the feeling in the gold market has definitely changed. i do expect silver to catch a bid. and it will lead for moments. however, to my knowledge there is no cb that holds silver. it is held by speculators. when this thing tops as in 80 the door will not be wide enough to get the silver bulls out. dont fall in love w/silver. in spite of all the bullish fundamentals. the next price cycle begins @1358 i am watching that level now. the bullish case continues when we break into that cycle. dharma

[stubaby]

every one has to play this rally as they see fit. i dont think buying in this area is prudent however.
i do think the atmosphere in the gold market has changed . it has the support of many of the commodity sectors. take a swing around the various commodity complexes.
mars went retrograde on the 1st , he is the commander in chief of the armies. dont get me wrong, i dont want war in any shape or form, but mars changing direction has escalated the situation in the ukraine. it bears watching
then you have abe and kuroda bent on producing some inflation in japan. their aggressive policies have not born fruit in that regard, i expect them to become even more aggressive. they have also removed all taxes on stock market investing in japan. which makes that a desirable investiment
then we have the indian elections @ the end of april. i dont agree w/lassonde @all. when chidambaram raised the taxes on gold imports to 10% then disallowed importation of gold , gold broke the 1500s the indian buyer is 100tonnes a month. his loss in the market has had significant effects on the equation. modi is the front runner and is way out in front in the polls. he is gold friendly. w/the indian buyer back in the market they support the floor in gold prices. for me above 1434 gives me confidence i am going the right way. i expect that marty, in retrospect will make the 1180s low fit his model and say he called the low. its why i do my own work
the volume in the miners has been impressive. lots of money has come into the sector. we will see if this new blood is willing to defend prices. i expect the bears to short this thing all the way to the 1924 highs. the feeling in the gold market has definitely changed. i do expect silver to catch a bid. and it will lead for moments. however, to my knowledge there is no cb that holds silver. it is held by speculators. when this thing tops as in 80 the door will not be wide enough to get the silver bulls out. dont fall in love w/silver. in spite of all the bullish fundamentals.
the next price cycle begins @1358 i am watching that level now. the bullish case continues when we break into that cycle.
dharma

dharma:

Thanks - I have us completing Wave ii in the $HUI Friday and now in Wave iii - I expect it to extend with 5 waves and am targeting 275 for it's completion - then iv and v for Wave 1 (285ish). Then the "bigger" Wave 2 (50% FIB), FWIW

stubaby

[dougie]

http://scharts.co/1cnYuRX ???

[dougie]

two very different counts:
http://scharts.co/1cxe8VB