143 replies to this topic

[goldfungus]

silver new lows
miners testing the lows
chiseling away @ the pillars of the
pm complex
dharma

I can't remember who it was that was looking for old low at 41 on the XAU but that is looking pretty good right now. I'll take a real stab with NUGT at that level.

[johngeorge]

Market anticipating fed raise imo

Agreed!

[dharma]

well today produced something new gold down miners up . this is a trend i have been looking for. of course 1 day isnt a trend. lets see if this continues. miners tested their lows. gold , so far, has stopped well above its lows. still possible this is a 4 i lightly nibbled yesterday on the retest of the lows. the miners are @ compelling valuations. of course if we are still in the grips of the bear, they could become even more compelling -thus treading lightly. the trading graveyards are filled w/bottom pickers. it is apparent that there are problems in the world wide economy. and so far the fed has not done anything. zirp is a problem. it is good for debtors , but not good for the economy. that money velocity chart tells the story. it is leading to a dry up of liquidity. i do not think the bottom is in for the broad market. those who are buying on the cheap here. could get clobbered. if that is the case then the dollar too has not found a bottom. sept/oct are the worst months for the stock market china/india/silk road have been good buyers of the metal. they have laid off the last couple of days. lets see when they come back dharma

[dharma]

dalio and summers calling for qe4 http://www.ft.com/in...p#axzz3k3DDp7KP
Gold sentiment was little changed. The HGNSI rose 6.7 points yesterday to 10%
. MarketVane’s Bullish Consensus fell a point to 35% today,
while the DSI was unchanged at 25%.
commodities turned up yesterday. sugar tends to be a leader so i watch it too
oil is a leader too
it seems to me, agree w/senor, the time is now for the pms to turn up.
today is right on schedule
miners firm
lets see what comes out of jackson hole this weekend.
the stock market is a ticking time bomb. the downside will reappear.
dharma

[dougie]

Somehow it feels like a IT trading range to work off things will be the game here

[dharma]

cots not encouragiing .
commercials take the other side of the large specs http://news.goldseek.../1440790296.php
dharma

[dharma]

lots of possibilities bottoms are always murky, otherwise everyone would be on board commercials are always short. once in the 70s they were long and the market screamed the question is how short . well compared to other bottoms and other tops, they are not very short here. their position will expand if we go up i am leaning towards this being the low. but, its not time to bet the ranch. \ if we have a 5 then that correction , wave2 if it makes a higher low will be a safer time to start getting aggressive. miners are selling for moose pasture. its where the big money is made in bull markets patience dharma i noticed yesterday gave parameters for gold

[johngeorge]

cots not encouragiing .
commercials take the other side of the large specs http://news.goldseek.../1440790296.php
dharma

To throw some fuel on your fire I got a sell signal on my daily chart of $BPGDM. and Gold.

[johngeorge]

dharma

Your observation regarding the dollar rolling over very much appears to be taking fruition: $US Good call!

the economic fantasy of raising rates crushed .
dollar going to find lower levels, of course not in a straight line
some of the other pieces of colored paper going to come into question
dharma
interesting marty was calling for 32k on the broad market. now below 15550 spells trouble
hey changing ones mind is part of the game . you dont change your mind and you have only
change jingling in your pocket

The Martin Armstrong movie titled The Forecaster

[dharma]

HGNSI fell 13.3 points yesterday to -3.3 MarketVane’s Bullish Consensus rose a point today to 36% DSI rose 5 points to 30%. sentiment still looks favorable for the bullish case the overbought condition need to be worked off then wave 5 up the saudis advancing into yemen could be huge yemen has little to no oil. saudi arabia is the king pin. saudis and iran represent the shunnis and shia. so this has broader implications. also it seems the chinese are selling treasuries into the strength this too has big implications. the broad market advance has a pause here , still think the damage has been done and the rally will be corrective dharma