115 replies to this topic

[dharma]

China's gold imports from Hong Kong rose in February amid increasing demand and as the country allowed more banks to import the precious metal. Net imports totaled 109.2 metric tons last month, compared with 83.6 tons in January and 60.9 tons a year earlier, according to calculations by Bloomberg News based on data from the Hong Kong Census and Statistics Department today. - Bloomberg News, March 25, 2014. Tonnage rocks. Everything else walks. The year-over-year numbers are what matters, and they are 109 tons in Feb14 versus 61 tons in Feb13. That's the bottom tonnage line. keeping the lid on gold prices insures that china gets to buy gold @ low prices. very soon india will be back in the market in a big way. modi is the front runner in the upcoming election=gold friendly. the move in the far east is away from fiat and into precious metals. wave 2 is bottoming here. dharma

[dharma]

today is options expiration. the round # is where the action is. above 1300 and alot of options expire worthless.
prices are wedged in on the gold chart. it also looks to be an inverse h&s pattern . oscillators are in the buy zone.
ng and other commodities look in similar positions. and interestingly enough, the gld holdings have gone up on this decline. it seems holdings have shifted to strong hands. wave 2 is finishing.
dharma

for me the future of the bull lies in the hands of the indians and chinese. both have in their traditions to hold physical gold. as long as they are free to buy gold , it will put a floor on the price.they buy in terms of tonnes. there are other countries in the far east where their citizens have a tradition of holding physical. this is where the future of the bull lies.
buyers of tonnes
maguire http://www.kingworld...ew_Maguire.html

[gannman]

Thanks, interestinf info

[dharma]

gannman-appreciate your market incites as well jeremy grantham-We do think the market is going to go higher because the Fed hasn't ended its game, and it won't stop playing until we are in old-fashioned bubble territory and it bursts, which usually happens at two standard deviations from the market's mean. That would take us to 2,350 on the S&P 500, or roughly 25% from where we are now. So are you putting your client's money into the market? No. You asked me where the market is headed from here. But to invest our clients' money on the basis of speculation being driven by the Fed's misguided policies doesn't seem like the best thing to do with our clients' money. We invest our clients' money based on our seven-year prediction. And over the next seven years, we think the market will have negative returns. The next bust will be unlike any other, because the Fed and other centrals banks around the world have taken on all this leverage that was out there and put it on their balance sheets. We have never had this before. Assets are overpriced generally. They will be cheap again. That's how we will pay for this. It's going to be very painful for investors. dharma all in due time. manipulations in the market always end.

[dharma]

so, now the options are expiring, and magically the price is @1300 so the large #of puts and calls expire worthless. wash, rinse, repeat. guess who wins. there are certain sectors of the market its best not to compete in. options, imo is one of them. dharma

[goldfungus]

so, now the options are expiring, and magically the price is @1300 so the large #of puts and calls expire worthless.
wash, rinse, repeat. guess who wins. there are certain sectors of the market its best not to compete in. options, imo is one of them.
dharma

Down and out or ready to roll? Bought some NUGT.

[senorBS]

let's see, the GDX and XAU both closed very close to their .618 Fibo retracements of the entire move, 5-day silver DSI now at 28% bulls, gold hit key support at 300 area. Tomorrow is a huge day as to whether we bounce/bottom from these key support area or perhaps head fown to new lows in the weeks/months ahead. I think this may be a classic deep wave 2 but will be will see BSing away Senor

[senorBS]

another thing Dharma, remember back in Nov/Dec we were talking abous a very important low/turning point in either Jan or March? well maybe late Dec/Jan was THE bottom and March is the big secondary low, we'll see Senor

[dougie]

monday lows?

[Russ]

Silver is coiling nicely since last June, it should find support soon, if it breaks out of the top trendline it should have a strong rally and it is not likely to go up by itself without gold. I am still showing uptrendlines for silver rallying into summer, if these lines fail i will be very surprised.