84 replies to this topic

[dharma]

right on q gold rallied yesterday. yellen speaks tonight . we rallied past the upper bb band yesterday, which in the recent past has been met w/selling i want to see a rally above the 1170 for a clear 5 up. its obvious that gold is leading there is naked shorting going on in the miners. after 4 yrs of bear the market has to prove itself.if not i wait. i do think hadiks call will prove to be correct , but i want proof. dharma

[johngeorge]

dharma

So far a normal Friday.........sell gold.

[dharma]

cots
http://news.goldseek.../1443209668.php
dharma

[AChartist]

to me it held the breakout, minor maybe, maybe many more levels. I bet the late Dec-Jan drop is the wave 2. Its ok to wait for that sure and I doubt I would buy miners then anyway (nationalization). Only physical, storage of labor. I just dont think a $40-50k order it will be available, the dealers say they cannot fill $100k orders now for weeks. I'll get one ounce this weekend if I find a good offer.

[goldfungus]

to me it held the breakout, minor maybe, maybe many more levels.

I bet the late Dec-Jan drop is the wave 2. Its ok to wait for that sure and I doubt I would buy

miners then anyway (nationalization). Only physical, storage of labor.

I just dont think a $40-50k order it will be available, the dealers say they cannot fill

$100k orders now for weeks. I'll get one ounce this weekend if I find a good offer.

Your more likely to get your gold confiscated than getting a Canadian miner nationalized. FWIW

[AChartist]

Your more likely to get your gold confiscated than getting a Canadian miner nationalized. FWIW I know that too. I surmised one time too that gold wont work until coming all the way out the other side of this, could be many years. 40-60 year Kondratief, starting from 2001? Like Armstrong saying US breaks up 2032 that is getting into 30 years.

[dharma]

money velocity has been in a downtrend since the late 90s http://gracelandupda...015sep28gs2.png. the deflationary picture painted by this chart is straight forward. rising prices occur when money is changing hands @ faster and faster pace. this chart says folks are holding onto whatever money they have. in the depression folks didnt spend money unless until they absolutely needed to
this is a chart of miners/vs gold note the miners topped in 95 , about the same time as the top in money velocity. and have been heading lower vs the metal. so if miners lead the metal what happened to the 16yrs ,from 95-11 where the miners continued to lose ground vs gold. it seems to me money velocity is the lead dog for the miners. http://gracelandupda...015sep28gs1.png
my premise is we had an ending diagonal triangle in gold and since that time the lows have held. however the upside has been limited. if you literally blinked , you missed the 1170 run to resistance. since then we could be base building. so rather than say the lows are in, i am saying prove it to me show me a 5 wave impulse higher. until then nothing is clear. we are definitely in a more favorable time period, but again little to no upside appreciation. from an astrological perspective we are in a very interesting configuration here. lets see how it plays out.
i do see signs of the love trade dominating the demand side, but its just not solid yet to overwhelm the paper market
i remain in wait and see mode. no proof . encouraging signs. no proof
dharma

Edited by dharma, 28 September 2015 - 10:05 AM.

[dharma]

sentiment HGNSI rose on Friday by 13.4 points to -13.3% MarketVane’s Bullish Consensus fell 2 points today to 37% DSI fell 7 points to 22%. throw the gann guy into the mix , at this point he has been a fade the problems that glencore is experiencing happens @ the end of bear markets it may be gold has one more flush @present the gold market feels heavy it seems all the bandages provided by central banks only give temporary relief dharma

[johngeorge]

"it may be gold has one more flush
@present the gold market feels heavy"

Sure 'nuff gold giving ground today. My weekly chart of gold shows resistance @ 1136 and support down @ 1074. I sold my NUGT position today at a loss... However, not completely unexpected on my part. Comes with the territory! Reloading for what maybe another opportunity for a trade in the ST/IT.

[dharma]

folks have watched oil prices decline, now its effects are hitting the kingdom
this has huge implications
http://www.ft.com/cm...l#axzz3n9NS7lCx
dharma