28 replies to this topic

[senorBS]

sure looks like it will bottom tomorrow morning fwiw the whole complex gold and stocks

I still like the bullish potential and it should absolutely fly out of here "IF" bullish and I stress the "IF". As critical as it gets!

NO BS

Senor

gold "flyin" like a stuck pig so far, bueno sign

Senor

[tria]

el-tria Says:

08/06/2014 at 12:25 am

Wednesday, August 6th

This time may be different, some may say but I can’t honestly be a bear on Gold, or at least not here and now.

August Gold is more expensive to buy than September, ie. in backwardation. Why?

The 6/19 high volume daily bars were tested yesterday on lesser volume, that is bullish. (mkts do like to test high volume bars)

Open interest in Gold futures has decreased to levels of previous bottoms. Smart money short covering and missguided big speculators liquidation probably.

http://www.barchart....p;txtDate=#jump

Volume put/call ratios have improved a lot, like for example in GDX.

http://www.schaeffer...volpcratio.aspx

Yesterday we had an inermarket positive divergence as Silver made a new low but Gold did not.

Finally, the flattening of the yield curve, relatively speaking, has to be reversed soon if they don’t want more than a flash crash before the US midterm elections.

If they want to fill the GDX gap just below $25, let them be my guests. This is my view and only price action will be the judge of my position.

Pls do DYODD and treat the above FWIW.
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el-tria Says:

08/06/2014 at 1:27 am

Correlating Gold and the EURO.

In addition to a potential inverse H&S formation, a Diamomd formation has been formed since the last week of June.
Since volume was rather strong during this formation, I believe it to be a continuation pattern and Pring’s Special K, increases this possibility.

http://stockcharts.c...id=p43959384109

http://www.trending1...rt-Pattern.html

We shall know soon if the Euro is preferable to Gold in the medium term at least.

el-tria Says:

08/06/2014 at 9:02 am

All the above were written near today’s lows ealy in the morning in Athens and not now.
There could be a drop tomorrow when Dragi talks but I am amazed by how long the Commercials are for the Euro. What do they know that we don’t?

http://snalaska.com/...t/charts/EC.png

Silver is the weak link as it correlates a bit more to the US stk mkt being an industrial metal as well as a precious one, this is what I think.

-tria

[tria]

My comments were posted in the T-Theory forum, I should have added. -tria

[dharma]

My comments were posted in the T-Theory forum, I should have added.

-tria

lots of good stuff. i too noticed how long the commercials are in the euro? what do they know
and the bullish divergence yesterday between gold and silver(making new lows) while gold did not
the big gap today, leads to more evidence of a wave 3.
dharma
jg posted an article by hathway-buy like its 99

[PrincelyM]

My comments were posted in the T-Theory forum, I should have added.

-tria

Hey Tria,

I value your views/comments a lot. I dont have access to the TT forum - tried to get access but no response from the owner. So....I request you to post your thoughts here as well in real time....If possible...

Thanks,
PM

[tria]

My comments were posted in the T-Theory forum, I should have added.

-tria

Hey Tria,

I value your views/comments a lot. I dont have access to the TT forum - tried to get access but no response from the owner. So....I request you to post your thoughts here as well in real time....If possible...

Thanks,
PM

PM, pls have in mind that Athens is 7 hours ahead of the US EST.

The only reason I posted on the T-Theory forum very early today was that there was some bearish talk yesterday in the forum and just wanted to express my opposite opinion.

On the Traders-Talk forum my opinion has been expressed many times and is well known.
Anyway I will try but not commit due to time constraints.

BTW, I am in the wide trading range camp on Gold and don't expect anything very dramatic any time soon. This view may change in the future.

-tria

[PrincelyM]

Thanks Tria..

[senorBS]

muy bueno action so far, miners acting well as is gold which is near session high at 1313, silver lagging which is fine at this time BSing away Senor

[johngeorge]

Market correction on the way? KWN interviews Michael Belkin

Michael Belkin: The man who counsels prominent hedge funds, investment banks, institutional money managers, mutual funds, pension funds, and high net worth individuals across the globe, told King World News that he believes we are facing a massive selloff where the global stock markets will get badly shaken. Belkin, President of Belkin Limited, also warned that we are now witnessing the “biggest speculative bubble” of his entire career.