looking at the 10th too.
bottoming?
Started by
dharma
, Jan 28 2015 10:45 AM
44 replies to this topic
#22
dharma
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Posted 05 February 2015 - 11:12 AM
the gld holdings are rising . thus supporting rising prices. the shanghai, so far this year, has had huge quantities of gold bought this year
tomorrow is the jobs # so todays action is no surprise. i can see lower #s before we turn up. keep in mind the market is firm w/no significant indian buying occurring until the new budget is presented. obviously it is not known if jaitley wll yield to pressure and lower the gold tariff. this is an in between period here. meanwhile the eu is trying to contain greece. where there is smoke there is fire
dharmai
#23
dharma
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Posted 05 February 2015 - 02:27 PM
shanghai continues to have brisk withdrawls Wednesday 12.96 tonnes, Thursday 18.56 tonns
dharma
t
#24
johngeorge
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Posted 05 February 2015 - 03:03 PM
dharma
Do you know of any recent negative news regarding NGD? It is below $4 again and I was thinking of adding to my position in it. However I am unsure about doing so if there is an issue(s) with NGD at this time. Thanks.
Best to you
Peace
johngeorge
johngeorge
#25
dharma
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Posted 06 February 2015 - 10:57 AM
i have no idea why they beat on ngd,
i was looking for a pullback and this is it. the market is in support here. down to 1220 i am a buyer. i will wait to see what the day brings. i would like to see hourly divergences from oversold. we are now oversold
so @least there is talk on the indian gold tariffs http://economictimes...ow/46133620.cms we wait and see what if anything happens there. in the meantime they have taken india out of the market in anticipation of a cut. my guess is 4% will be the #
i am leaning towards this being over by the new moon on the 18th. and a bounce or 1 begins monday.
dharma
i was looking for a pullback and this is it. the market is in support here. down to 1220 i am a buyer. i will wait to see what the day brings. i would like to see hourly divergences from oversold. we are now oversold
so @least there is talk on the indian gold tariffs http://economictimes...ow/46133620.cms we wait and see what if anything happens there. in the meantime they have taken india out of the market in anticipation of a cut. my guess is 4% will be the #
i am leaning towards this being over by the new moon on the 18th. and a bounce or 1 begins monday.
dharma
#26
dharma
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Posted 09 February 2015 - 10:27 AM
forever groping for a bottom. i am looking for a bounce here, which should last the better part of this week. then i see down into the 17th new moon. i am a long term gold bull. in the short term here it is unclear. marty came out saying he is looking for sub 1k and a bottom at the earlest over the summer and probably the fall. nothing new there. wages continue to be in the doldrums. they could turn up soon. http://gracelandupda...15feb9wage1.png. putting some inflationary pressure on interest rates. @1307 gold was overbought that situation is being worked off , we are not oversold yet.
the indian budget is due feb 28 and it is up to the finance minister where the tax stands on gold. @present it is 10% . indians are looking for a cut in the tariffs .
the picture @ this point is quite clear . there are 3 waves up on the charts. which is not a bullish indication. as long as there are not 5 waves up , then its clear the bounce is corrective. stay in the fox hole. i did some light buying on friday , it will be gone today or tomorrow. i am just trading. if we get a 5 up, then it is clear its time to be on board. wave 2s usually correct @least .618 of the advance. for now though its just trades.i do think this is the year of the turn, not the year of the parabolic.
gold will have its day. the idea is to stay solvent until that day
dharma
the indian budget is due feb 28 and it is up to the finance minister where the tax stands on gold. @present it is 10% . indians are looking for a cut in the tariffs .
the picture @ this point is quite clear . there are 3 waves up on the charts. which is not a bullish indication. as long as there are not 5 waves up , then its clear the bounce is corrective. stay in the fox hole. i did some light buying on friday , it will be gone today or tomorrow. i am just trading. if we get a 5 up, then it is clear its time to be on board. wave 2s usually correct @least .618 of the advance. for now though its just trades.i do think this is the year of the turn, not the year of the parabolic.
gold will have its day. the idea is to stay solvent until that day
dharma
#27
johngeorge
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Posted 09 February 2015 - 11:09 AM
Thanks for the continued updates dharma
" the idea is to stay solvent until that day" Amen!
I added to my NGD core holding the other day when it dropped below $3.70. Continue to be astonished that it sells so cheap in view of its very low cost of production, modest debt, positive cash flow, profitability, and % of management ownership.
Peace
johngeorge
johngeorge
#28
dharma
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Posted 09 February 2015 - 11:33 AM
agree, it is very cheap and is a well run company. unfortunately, if new lows for gold do come to pass, the stocks could even get cheaper.Thanks for the continued updates dharma
" the idea is to stay solvent until that day" Amen!
I added to my NGD core holding the other day when it dropped below $3.70. Continue to be astonished that it sells so cheap in view of its very low cost of production, modest debt, positive cash flow, profitability, and % of management ownership.
unless of course the miners diverge from the metal
dharma
#30
dharma
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Posted 10 February 2015 - 11:23 AM
3waves up on the gold charts. not a bullish situation. it could change
.commercials short the dollar and gold , the cots are as of tuesday, so we dont know if the commercials covered a bunch on fridays beat down
in april 13 india had instituted the 80/20 rule and raised the tax on gold to 10% gold fell through the trap door in the 1500s
today we have india out of the market in wait and see mode . hoping for a reduction of the 10% tax . the budget comes out on the 28th
might we see another break between now and then. i do see today and tomorrow as having some sideways to up, but then the pull of the new
moon will be there. martys pivot is 1226 a weekly close below that and for him new lows are in store.
i do see that in march the london gold fix will be more transparent. w/3 chinese banks as part of the process.
by then the indian budget will be announced. i am not as morbid as marty. although the bounce did nothing more than bring the closet parabola demanders out of the closet. this still could be a 4 so i wait and see. there are other possibilities as well .
dharma
