36 replies to this topic

[tria]

buillard was out over the weekend talking about inflation. yes, that is what the taper is all about. so, the taper was supposed to send gold in the tank , it hasnt.
jaitley is a chidambaram protege, apparently. yet in june india imported 106tons, lets see what the july figure is. china steadily continues its buy program and now russia bought 500tons and 1500tons over the last 3 months.
this correction will end soon, and something else will be front and center . the wheeler war cycle is becoming more pronounced.
just so many irons in the fire.
wearing my buy hat
dharma

Dharma, I think I'll wear my buy hat on Wednesday and/or on Thursday.

-tria

Hi Tria,

Your earlier view was for a top on last Friday or mid this week. And a low next week sometime around 29th. Did this change?

Thanks,
PM

The anticipated high for last Friday came a day earlier, ie last Thursday.
Now I am looking for a low on Wednesday +/- 1d as well as another low around 7/29.
My micro-view changes as the mkt dictates.
I just don't know if the low around 7/29 will be higher or lower than an anticipated low of this Wednesday.
I am 50% long and will go up to 75% LATE this Wednesday. Then I anticipate a rally and then I'll wait for another corrective potential low around the 29th due to the August futures OPEX on 7/28.

Sorry for the confusion but things evolve.

-tria

[PrincelyM]

buillard was out over the weekend talking about inflation. yes, that is what the taper is all about. so, the taper was supposed to send gold in the tank , it hasnt.
jaitley is a chidambaram protege, apparently. yet in june india imported 106tons, lets see what the july figure is. china steadily continues its buy program and now russia bought 500tons and 1500tons over the last 3 months.
this correction will end soon, and something else will be front and center . the wheeler war cycle is becoming more pronounced.
just so many irons in the fire.
wearing my buy hat
dharma

Dharma, I think I'll wear my buy hat on Wednesday and/or on Thursday.

-tria

Hi Tria,

Your earlier view was for a top on last Friday or mid this week. And a low next week sometime around 29th. Did this change?

Thanks,
PM

The anticipated high for last Friday came a day earlier, ie last Thursday.
Now I am looking for a low on Wednesday +/- 1d as well as another low around 7/29.
My micro-view changes as the mkt dictates.
I just don't know if the low around 7/29 will be higher or lower than an anticipated low of this Wednesday.
I am 50% long and will go up to 75% LATE this Wednesday. Then I anticipate a rally and then I'll wait for another corrective potential low around the 29th due to the August futures OPEX on 7/28.

Sorry for the confusion but things evolve.

-tria

Totally understood views evolve. Just wanted to know your latest thoughts. Thanks!
PM

[tria]

PM, Depending on the size of the anticipated midweek drop, I will have to decide whether it will be more important than the potential 7/29 low. I just don't know yet. Bottom line, I may go 100% long on Wednesday or just 75%. -tria

[dharma]

i think the 7/15 low could very well be the low. i am looking for a low by friday. w/the juniors they march to a different drum , so i am in to buy today nothing done ...............yet. i do think the juniors are very under valued. most are valued for moose pasture. in their day they will be valued for real and potential gold in the ground. anyway, there are many catalysts that are going to activate for gold. i am focusing on the miners. they will have more bang for the buck, they got over done. dharma

[dharma]

jaitley gave a talk last night, if there was any doubt which side he was on, it ended w/his talk last night. it will take time to root the chidambaram protege out of his position. he is part of the mafia this down cycle should start to bite now. however its got small teeth. i was unable to buy yesterday. i am not going to bid up a stock here dharma

[johngeorge]

I bought yesterday and today. Looks to me like a bit more downside to go, but, am willing to sit with my trades for now as they are either even or minus a couple percentage points.

[tria]

I bought yesterday and today. Looks to me like a bit more downside to go, but, am willing to sit with my trades for now as they are either even or minus a couple percentage points.

JG,

FWIW, I bought near the comex opening and sold near the highs.
So back to 50% long trading positions. I believe tomorrow and probably late in the day should mark another low good entry point.

-tria

[johngeorge]

Thanks tria I do have a small amount of buying left to do which will bring me to 100% long. I can easily wait until tomorrow. Appreciate the info. Best to you.

[dharma]

even though i bought some yesterday, i am not convinced the lows are in . my date remains the 26th. i do see the options expiration next week. i have no doubt there will be some games around that. i am picking off juniors that march to their own drum. we are entering the gold buying season http://seasonalchart...ssics_gold.html that coupled w/the geopolitical risks world wide will make for a good august rally. we are nowhere near the parabolic stage ...............yet. in the 4stage models of markets we are early in stage 2 or if there is more basing than stage 1. @this stage of the market , although more risky, i think the risk/reward ratio favors the juniors. if your appetite for risk is less than the seniors and metals. the lifeline for the miners is the far east demand for physical, which as they become more wealthy will become unsatiable
dharma
the wild card in all of this is the dollar.

http://www.businessi...rn-capitalism-1

Edited by dharma, 23 July 2014 - 09:48 AM.

[tria]

FWIW, I was expecting and still do a bigger drop today. Nevertheless my work suggests to increase my trading longs from 50% to 75% by the close and have already started buying in small increments. -tria