49 replies to this topic

[dharma]

well something new, this is the 1st time since the top in 11 that the market took out its last high

previous high was 1190 today we got as high as 1199. gdx also took out its oct highs

some of the downtrend channels have also been busted

gold is above its 200dma so is gdx 

china is on holiday this week. they have kept a bid under the market

but, w/the dollar putting in a h&s top pattern vs the yen, and now breaking the neckline

money is flowing into gold and miners
the market is changing character. 

in the not too distant future , the majors will have to replenish their inventories, they have been running

high grade which over the last 4+yrs has been depleted.  weak sisters will go 1st 

dharma

Edited by dharma, 08 February 2016 - 12:31 PM.

[dharma]

yesterday , volume was meaty in the gdx

bumping up against 1200 wheels are spinning after a straight up move

caution

silver broke out

i think the dollar has one more run

better to wait to buy into weakness it will come march looks corrective to me as does july

lots of pent up buying 

currie still calling for 1k

dharma

dont know where to access martys new site to find his daily thoughts?

[dougie]

1260 on deck

[dharma]

tomorrow yellen goes up to the hill  

gdx closed its gap

i suspect that no matter what she says it will be 

construed as bullish the metals

the fed, as i have been saying for awhile is trapped

yes, you can find them in hotel california

where they can never leave the markets

dharma

read marty this am  gold has proved nothing for him

he still sees the broad market in the stratosphere 

and a strong dollar

Edited by dharma, 09 February 2016 - 03:59 PM.

[johngeorge]

From Stewart Thomson  Feb 9, 2016 

Risk On Dollar Burns While Gold Shines

[dharma]

the gold market has gotten frothy and currie in a hurry of gs came out and reiterated his call for 1033, which still could be in the cards.  not the most probable scenario , but it cant be pushed into the trash just yet

1s are followed by 2s which retrace a good % of 1 and are a safer buy. 

the chinese new year is now past, they bought heavily into their new year

w/the big rally in gold , indian buyers stepped to the sidelines. their new budget is announced on feb 29th

it is thought that jaitley will lower the tariff from 10% falling oil prices have helped to offset indias trade deficit, so that argument is out the window

there is still time in february for more rally, but march should be in the bears hands

so far the round # has offered stiff resistance. 

dharma

[tria]

Dharma the low last Dec was $1,046.18 I believe.

Close enough for government work to currie's 1,033

So what is all the fuss about a mere $13.00 ?

 

Another thing, since I can't read Armstrong now, does he still say thart his view will change with a weekly close >$1,208  ?

 

Tks

-tria

[dharma]

tria- its not how i interpret him. he hasnt set parameters that will turn him bullish

when is the last time a fed  came to the hill and talked and gold /gdx reversed and went up from being down

answer not in the last 4+ yrs

something different

the market is changing character

dharma

[dougie]

Will be a hoot is MA misses this

[dharma]

dougie, would not surprise me

https://www.armstron...ls/gold/gold-6/

seems he is so busy fending off/attacking gold bugs. 

dharma

gold market is looking to be a big cup @ this point

Edited by dharma, 10 February 2016 - 03:24 PM.