59 replies to this topic

[dharma]

the world awaits the fed
yet bagdad is coming into focus. , iraq has one of the 5 largest oil reserves in the world
the sector looks good, next week a correction?
china may be on the prowl for more gold http://www.mining.co...-hotline-90514/
here is an explanation of negative rates. http://www.peakprosp...3...131&utm_sou
time is what is needed
dharma
senor stick around your input is appreciated.

[dharma]

the dow is having a good year. yesterday the gdxj was up over 5% , that is more than the dow has gained this year. that on the heels of a fed meeting, which has not been kind to gold/silver/miners. did it become apparent that the fed has no strategy in place should inflation tick up? keep in mind in the last bout of inflation the fed remained behind the curve until near the end when volker finally put the clamps on inflation. is there an inflation fighter in the fed now, w/the unemployment rate entrenched in the doldrums. is economic activity robust ? for all those who were listening did they hear the fed give them confidence on their plans of action in regard to an inflation which could be picking up? then on the geopolitical front there are fires in several key spots. lets see if we have a strong close . i have resistance 1293-1309 lets see how the market reacts in that zone. sentiment The HGNSI was unchanged yesterday at -16.7%. MarketVane’s Bullish Consensus fell a point today to 48% DSI rose 4 points to 31%. these #s are still in the bears court. if you notice every night gold gets hit in asia. this is the seasonal weak season. and w/the indian budget due to come out the 1st week of july. indian buyers are waiting to see what happens on this 10% tax. so the next couple of weeks will shed light on that situation. then sometime in july start diwali buying. trias idea of next week being weak, concurs w/options expiration. i am prepared for higher prices should they occur. right now i am enjoying the ride. dharma

[mark_goal]

right now i am enjoying the ride.
dharma

me too; got whip sawed a couple of times but glad i got on nugt & uslv train again before it left station

Senor, i like to read your take, pls come back.

Edited by mark_goal, 19 June 2014 - 10:29 AM.

[tria]

the dow is having a good year. yesterday the gdxj was up over 5% , that is more than the dow has gained this year. that on the heels of a fed meeting, which has not been kind to gold/silver/miners. did it become apparent that the fed has no strategy in place should inflation tick up? keep in mind in the last bout of inflation the fed remained behind the curve until near the end when volker finally put the clamps on inflation. is there an inflation fighter in the fed now, w/the unemployment rate entrenched in the doldrums. is economic activity robust ? for all those who were listening did they hear the fed give them confidence on their plans of action in regard to an inflation which could be picking up?
then on the geopolitical front there are fires in several key spots. lets see if we have a strong close . i have resistance 1293-1309 lets see how the market reacts in that zone.
sentiment
The HGNSI was unchanged yesterday at -16.7%.
MarketVane’s Bullish Consensus fell a point today to 48%
DSI rose 4 points to 31%.
these #s are still in the bears court.
if you notice every night gold gets hit in asia. this is the seasonal weak season. and w/the indian budget due to come out the 1st week of july. indian buyers are waiting to see what happens on this 10% tax. so the next couple of weeks will shed light on that situation. then sometime in july start diwali buying. trias idea of next week being weak, concurs w/options expiration. i am prepared for higher prices should they occur. right now i am enjoying the ride.
dharma

I don't recall saying anything about next week being weak. I just quoted a Chinese guy star gazer.
What I think about next week I will post in the next couple of trading days, Dharma.
All I said was that I would be buying weakness early this week which I did, and that a rather sharp rally would follow by the middle of the week.

-tria

[dharma]

the dow is having a good year. yesterday the gdxj was up over 5% , that is more than the dow has gained this year. that on the heels of a fed meeting, which has not been kind to gold/silver/miners. did it become apparent that the fed has no strategy in place should inflation tick up? keep in mind in the last bout of inflation the fed remained behind the curve until near the end when volker finally put the clamps on inflation. is there an inflation fighter in the fed now, w/the unemployment rate entrenched in the doldrums. is economic activity robust ? for all those who were listening did they hear the fed give them confidence on their plans of action in regard to an inflation which could be picking up?
then on the geopolitical front there are fires in several key spots. lets see if we have a strong close . i have resistance 1293-1309 lets see how the market reacts in that zone.
sentiment
The HGNSI was unchanged yesterday at -16.7%.
MarketVane’s Bullish Consensus fell a point today to 48%
DSI rose 4 points to 31%.
these #s are still in the bears court.
if you notice every night gold gets hit in asia. this is the seasonal weak season. and w/the indian budget due to come out the 1st week of july. indian buyers are waiting to see what happens on this 10% tax. so the next couple of weeks will shed light on that situation. then sometime in july start diwali buying. trias idea of next week being weak, concurs w/options expiration. i am prepared for higher prices should they occur. right now i am enjoying the ride.
dharma

I don't recall saying anything about next week being weak. I just quoted a Chinese guy star gazer.
What I think about next week I will post in the next couple of trading days, Dharma.
All I said was that I would be buying weakness early this week which I did, and that a rather sharp rally would follow by the middle of the week.

-tria

sorry tria, i confused you w/the chinese astrologer. no offense meant. but i do think options expiration can cause a brief spell of weakness
http://www.zerohedge...s-its-own-words
dharma

[dharma]

of course when you have 40+ rally there is short covering. but,if you look @the volume for the day it was massive. this looks like a kickoff to a larger rally. the fed is not concerned about inflation . well brent made new highs yesterday. oil is the grease for the whole economy. it goes up and everything else goes up too. dont worry the fed , according to yellen isnt concerned about inflation. w/their phony figures it remains non existent. well many charts in the pm arena are sporting inverse h&s patterns . on weekly gdx has an inverse h&spattern w/the right shoulder being a falling wedge. the pattern on gold projects to the 1500s . will rising oil prices keep the indian govt from lowering the tax on gold and keep the ball and chain of the 80/20 rule in tact. it was taking the indian buyer out of the market that caused the head to form for gold. still some unknowns. so we consolidate and then climb the wall of worry dharma

[tria]

Dharma, since today should be just churning, I found the time to look for the Chinese Astro guy comment. "Btw...Chinese astro says metals are afraid of fire so metals would be strong on 18 and 19. But on the week of 24 June, fire will burn metals. I am watching and having observed the past, chances are good that metals will fall next week. Hope this week it would rise enough to cushion next week's fall. Just my opinion." -tria

[dharma]

thanks tria,
rickards https://www.youtube....R8lORiQzzDzny5s
we are overbought so some consolidation is in order
watching oil, it tends to move in lockstep w/gold.
dharma

[dharma]

just as the bears got trapped, i look for the bulls to chase. we are in unstable waters. volatility will be increasing. do what is comfortable. the pattern still has not fulfilled its objectives. we are early in the move. volatility works both ways. dharma

[dharma]

as others have mentioned, there are turns in june/july. saturn goes direct on the 21st. i have turns 21-23 i want to see 1358 taken out on a closing basis. then i think we are continuing up. i am done accumulating and have been in wait and see mode. i think this goes quite a bit higher
the gann guy
http://www.ganngloba...c55516c7ef2c7d6
andrew maguire
http://kingworldnews...old_Shorts.html
part 2
http://kingworldnews...ze_In_Gold.html
dharma

Edited by dharma, 23 June 2014 - 11:01 AM.