58 replies to this topic

[Russ]

Nothing to add yet again.

Gold should start falling quite soon despite any possible small short covering rally early in the week.

Looking for an early May low and waiting to see if price proves me wrong.

-tria

Tria, Down now in pre-market trading, I have confirmation of GDX forming a low in mid-June, that should resolve the consolidation since last November and will be a great buy time for all things gold.

Russ

Edited by Russ, 20 April 2015 - 07:27 AM.

[tria]

Nothing to add yet again.

Gold should start falling quite soon despite any possible small short covering rally early in the week.

Looking for an early May low and waiting to see if price proves me wrong.

-tria

Tria, Down now in pre-market trading, I have confirmation of GDX forming a low in mid-June, that should resolve the consolidation since last November and will be a great buy time for all things gold.

Russ

Russ, maybe mid June as you say, maybe early July.
In any case I want to see if 'a' low is seen in early May and then I'll see about the future.

--tria

[AChartist]

I'm mixed its been in this same position for a while, hard down 400 week cycles with a nest of shorter term up, I have seen it break down first then up most of time like this but I was coming around to the idea of up first then a late drop. Once it does drop again, the two ~400 weeks cycles go into more of a destructive interference. We'll see what the 100% greek bail in means if anything for the meaning of money, maybe tomorrow get a clue.

[tria]

I'm mixed its been in this same position for a while, hard down 400 week cycles with a nest of

shorter term up, I have seen it break down first then up most of time like this but I was coming around

to the idea of up first then a late drop. Once it does drop again, the two ~400 weeks cycles go into more

of a destructive interference.


We'll see what the 100% greek bail in means if anything for the meaning of money, maybe tomorrow get a clue.

Russ,

To what Greek 100% bail in today are you referring Russ that I am not aware of?

We have discussed Gold rising or falling in the last few weeks. One thing we have not considered is for Gold to drift aimlessly till the good time comes.....

-tria

[tria]

For the rest of this week, around $1,210 area, I am selling. Mind you today or tomorrow should be the last days of some small rise. $1,185 area I am covering this week. Next week could be weaker if I read the Gold mkt correctly. -tria

[AChartist]

tria, its on Armstrong's blog

I'm mixed its been in this same position for a while, hard down 400 week cycles with a nest of

shorter term up, I have seen it break down first then up most of time like this but I was coming around

to the idea of up first then a late drop. Once it does drop again, the two ~400 weeks cycles go into more

of a destructive interference.


We'll see what the 100% greek bail in means if anything for the meaning of money, maybe tomorrow get a clue.

Russ,

To what Greek 100% bail in today are you referring Russ that I am not aware of?

We have discussed Gold rising or falling in the last few weeks. One thing we have not considered is for Gold to drift aimlessly till the good time comes.....

-tria

[tria]

Ok Russ, I see what you and Armstrong meant about a Greek bail in. The Gov issued a decree that forces local governments to transfer (in fact to loan for 3 months) all cash balances to the central bank, as debt to the International Monetary Fund and salaries are due. The Eurogroup had no objection to such an "ethical" action and is considered standard practice in difficult times. End of June is the time of the Hellenic drama to end in tears unless there is a miracle before that... -tria

[tria]

I just covered my short Gold position @ $1,1186.90 since slightly oversold and mainly because I have to resolve another personal issue. Still expect more downside action next week. -tria

[tria]

I think next week may be even weaker for gold but a bit early for me to be almost certain. -tria

[Russ]

I think next week may be even weaker for gold but a bit early for me to be almost certain.

-tria

Once GDX breaks below it uptrend line its should go back to the 17 dollar level pretty fast in the near term. 1150 in gold should be coming pretty soon.

Russ

Edited by Russ, 22 April 2015 - 12:48 PM.