202 replies to this topic

[Russ]

Gold and Silver have not made new lows while the stocks have but stocks new lows is now diverging...

http://stockcharts.com/c-sc/sc?s=$GDXHLP&p=D&yr=2&mn=0&dy=0&i=p24546249153&r=1412057820814.png

Edited by Russ, 30 September 2014 - 01:22 AM.

[senorBS]

gold and silver appear to have thrust down to new decline lows out of a contracting triangle and gold has already rallied back to the apex near 1214-1215, lets see how important and ending pattern this "might" be? Senor

[senorBS]

this is from 10 and 15 minute charts - it looks like gold has 5 waves up from 1204 to 1220 rally high off that low, gettin more interesting Senor

[senorBS]

added a trading position in miners on this pullback off the highs, DYODD and all that Senor

[dharma]

In 2014, the most important statement made about gold prices is probably this one,
"If the dollar or any other fiat currency were universally acceptable at all times, central banks would see no need to hold any gold. The fact that they do indicates that such currencies are not a universal substitute." - Allan "Big Al" Greenspan, Sep 29, 2014.
here is the whole article http://www.foreignaf...pan/golden-rule
now that is a statement to ponder! and from the highly respected, highly regarded sir alan!
i dont know if the chinese govt is surreptitiously buying gold or not, but if they are not then
i think @some point down the road they go on a gold buying program
now , when senor talks w/his wallet then you better take notice
i can see the 5 waves up on the 10-15 min gld chart
and the ending diagonal in gdx
i have felt that we are so close to the round #1200 that it has to be tempting to see what kind of stops are below there. 1198 is the death zone for my gann work
spx sure looks like an expanding triangle , which is an ending pattern as a push and pull between the bulls/bears
things are very interesting and its crash season
the dollar is way over bought and the commercials have an enormous short position
dharma
ps if china does go on a gold buying spree, i expect india to also enter the fray

Edited by dharma, 30 September 2014 - 09:57 AM.

[senorBS]

In 2014, the most important statement made about gold prices is probably this one,
"If the dollar or any other fiat currency were universally acceptable at all times, central banks would see no need to hold any gold. The fact that they do indicates that such currencies are not a universal substitute." - Allan "Big Al" Greenspan, Sep 29, 2014.
now that is a statement to ponder! and from the highly respected, highly regarded sir alan!
i dont know if the chinese govt is surreptitiously buying gold or not, but if they are not then
i think @some point down the road they go on a gold buying program
now , when senor talks w/his wallet then you better take notice
i can see the 5 waves up on the 10-15 min gld chart
and the ending diagonal in gdx
i have felt that we are so close to the round #1200 that it has to be tempting to see what kind of stops are below there. 1198 is the death zone for my gann work
spx sure looks like an expanding triangle , which is an ending pattern as a push and pull between the bulls/bears
things are very interesting and its crash season
the dollar is way over bought and the commercials have an enormous short position
dharma

trading shorter term charts should always be approached with some caution, that being said IMO it looks like a solid patterm, using tight stops. Dollar lookssomewhat parabolic to me, always impossible to pick a parabolic top, muy interesting end of quarter session!

BSing away

Senor

[dharma]

senor-yes and the trading of short term charts should have a short term horizon
singapore opening a kilo gold bar exchange
and russia admitting to buying gold http://www.goldcore....lladium_In_2015
yes things are getting interesting. inspite of the dollars strength gold is hanging in there. i do think a test of 1200 is in the cards. how can they resist?
watching the broad market for indications of an impending top.
yes , it is quarter end and tape painting, seems there is an excuse for that daily
dharma

[dharma]

now if that article above on russia is true and even if its not and they are good @bluff poker and they buy alittle platinum group to push the price up, then it can have an upward effect on the platinum group. i tend to think they are short of supply. outside of sa i think the world wil have to find more platinum
the chinese markets are closed oct 1-8 so they could be the time the shorts cover?!
interesting/provacative piece by rickards https://www.facebook...29341447183473/
dharma

[dougie]

interesting that despite the action we don't see any around here calling for adding of shorts

[dharma]

actually the sentiment #s are saying that most advisors are either short or out of long positions A note from Ned Davis last week: Gold sentiment has hit zero [that is a literal comment]. Over the last 25 years this has occurred 15 times. Average length at zero= 4.6 days. Median length at zero=3 days. Longest time at zero = 13 days. commodities keep falling , deflation is taking a big bite, this in spite of massive world wide qe. so its no surprise that silver eg is steadily eroding in price. i expect the gold/silver ratio to blow out even more. before the return of the bull, i think silver will be in the dumps . while gold is supported by gold demand from cbs and jewellry buyers in the far east. while silver is bought in the far east, it is to a much smaller extent than gold in the past when there was economic crises the exchanges were just closed for a period of time. since 98 w/long term capital/russian crises etc the fed stepped in and printed to try and keep everyone whole. recently they instituted qe and while it provided liquidity , it did little else. money velocity is still imploding, and this is an essential ingredient to get things money. well banks are not lending, and folks are not opting to sign on the dotted line. roosevelt , now i realize this is a different time and we are not on a gold backed system , revalued gold . i just wonder what else they can do. what they have done has increased the feds balance sheet, but did little else. something needs to be done or we slid slide into another deflationary depression. look @ crude, it takes alot of energy to frack. it is not a very cost efficient way to get energy. @ what price is it not economic to frack? world wide demand for oil is down , if the price keeps falling and demand keeps imploding , then the set up is for fracking companies to suffer some big losses. meanwhile the broads look weak dharma