112 replies to this topic

[dharma]

it seems to me , many of the bulls are only short term bullish. then when this wave tops out , new lows are in store. just watched a gary wagner piece. it seems that is the sentiment. i dont know of course. but it seems what everyone thinks is right, usually doesnt work out. dharma

[goldfungus]

it seems to me , many of the bulls are only short term bullish. then when this wave tops out , new lows are in store.
just watched a gary wagner piece. it seems that is the sentiment. i dont know of course. but it seems what everyone thinks is right, usually doesnt work out.
dharma

Yep. Prominent gold bull sent out a letter saying gold has yet to make a bottom. Hey, he's a bull! LOL keep the shorts sanguine. By the time they realize they need to cover we'll be above $1400… then fireworks. Couldn't happen to a nicer bunch. LOL

[dougie]

that scenario is everywhere to be sure I read it three places today alone

[dharma]

keep in mind my frame of reference is 78 , that is when i started. stu always appreciate your perspective. when i look around, i see japan bent on producing inflation. abe and kuroda are on the same page there, so no political wrangling crude oil is @102 , so while it is overbought , it appears to be on a breakout so a pullback is waranted the softs appear to be beginning an up trend as are the grains. w/the drought in california its not difficult to imagine rising food prices. and the start of cost push inflation. when i look @ the velocity of money charts, they are still in the doldrums could be turning up. w/rising oil prices indias balance of payments will keep chidambaram maintaining the tight screws on gold imports. whatever gold gets smuggled in, probably has his take secured. i do see the seeds of cost push inflation and that is what gold thrives on. all the while prominent analysts in the gold community are waiting for the real low to come in may. to my eyes , this looks about as real as it can get. the volume coming into the miners, has set records and is impressive. now, the bull has to prove itself -above 1434 . the rally has gotten overbought and a consolidation seems appropriate. the banksters, except jpm have been calling for gold tanking. on the other side. technically it looks good and the backdrop keeps getting better and better the ukraine is now the battle ground of the previous cold war. seems things are escalating over there. i remember in 79 the shah of iran was toppled russia went into afghanistan. so the present world environment is not friendly, no one wants war, but we are a stupid species! dharma

Edited by dharma, 19 February 2014 - 10:14 AM.

[stubaby]

keep in mind my frame of reference is 78 , that is when i started.
stu always appreciate your perspective.
when i look around, i see japan bent on producing inflation. abe and kuroda are on the same page there, so no political wrangling
crude oil is @102 , so while it is overbought , it appears to be on a breakout so a pullback is waranted
the softs appear to be beginning an up trend as are the grains. w/the drought in california its not difficult to imagine rising food prices. and the start of cost push inflation. when i look @ the velocity of money charts, they are still in the doldrums could be turning up. w/rising oil prices indias balance of payments will keep chidambaram maintaining the tight screws on gold imports. whatever gold gets smuggled in, probably has his take secured.
i do see the seeds of cost push inflation and that is what gold thrives on. all the while prominent analysts in the gold community are waiting for the real low to come in may. to my eyes , this looks about as real as it can get. the volume coming into the miners, has set records and is impressive. now, the bull has to prove itself -above 1434 . the rally has gotten overbought and a consolidation seems appropriate.
the banksters, except jpm have been calling for gold tanking. on the other side. technically it looks good and the backdrop keeps getting better and better
the ukraine is now the battle ground of the previous cold war. seems things are escalating over there.
i remember in 79 the shah of iran was toppled
russia went into afghanistan.
so the present world environment is not friendly, no one wants war, but we are a stupid species!
dharma

dharma:

This is definitely different - the stability of the overall system is being slowly challenged "all around the edges" - attack here - attack there - the "status quo walls" are weakening - we are nearing the end of an era -

http://stockcharts.com/c-sc/sc?s=$CCI&p=M&st=1984-11-02&en=(today)&i=p02472741412&a=337192419&r=1392823907069.png

stubaby

[dharma]

well the gann guy jettisoned his outlook for new lows in the pms
http://www.ganngloba...52e97f92d3d3c4b

dharma

[senorBS]

HUI-XAU-GDX all appear to be continuing what so far appear high level consolidations/corrections, HUI "might" try to fill gap near 236 but would not at all surprise me if we do not go that low Senor

[dharma]

stu- i agree. banksters are falling from the skies. lots of challenges to the present system the initial thrust off the building of the base has potential. and its not just the pms . its lots of different commodities,as your chart shows lots of cbs are trying to produce"a little inflation" since they have the reins , it shouldnt be too difficult senor- it will be interesting if the gap turns out to be a breakaway gap. dharma

[senorBS]

stu- i agree. banksters are falling from the skies. lots of challenges to the present system
the initial thrust off the building of the base has potential. and its not just the pms . its lots of different commodities,as your chart shows
lots of cbs are trying to produce"a little inflation" since they have the reins , it shouldnt be too difficult
senor- it will be interesting if the gap turns out to be a breakaway gap.
dharma

Yeah, really matters little in the bigger picture IMO, just a level to look for if we do correct further

Senor

[johngeorge]

On the daily chart the $USD is oversold and is bouncing higher this morning. I suspect any further strength in the $USD will hold back the pm's for a time. Meanwhile I have a few stocks I am looking to buy. I like SVRZF during a pullback in silver, however, it has only minimal volume which is not so good.