105 replies to this topic

[dharma]

after a strong open , gold went negative on the day and is just barely up on the day. miners are up but have lost ground

 HGNSI was unchanged at 30.56%

MarketVane’s bullish consensus fell 1 point to 56%

DSI rose 1 point to 57%.

watching

dharma

[dharma]

we may be range bound, as tria suggests.  the market needs a catalyst.   i am in buy mode should we pull back.

banks are showing greater participation in the gold market http://247wallst.com...op-gold-stocks/   not that i think these guys are genius' they do move alot of money

oil keeps moving up which will show up in the inflation #s http://blogs.barrons...uption-lasting/

crb appears to have made an inverse h&s pattern

we are heading into monsoon season, indian buying has been absent from the market a good monsoon will change that

waiting . watching oban fly

dharma

[johngeorge]

dharma

 

"watching oban fly"

 

Yuppers!  Up 11% as I type this.  Thanks for the heads up on that one as I got me some.    Gold trying to rally back up.  Perhaps due to $US weakness this morning.  Stewart Thomson has an editorial out this am on gold.

 

Best to you.

[dougie]

Obv buyout coming?

[dharma]

well the cot is well known.  it has been pointed to for several weeks now

a growing loud chorus for correction seems the loudest

gold has had plenty of opportunities to correct  1257 seems to be the best they could muster

i am looking for one more rally to new highs.  which should take us to mid june.

dharma

[dougie]

Indeed
Though some down soon would not surprise

[dharma]

all the pretty colored papers called money are flawed . they all have mountains of debt the dollar is no different. in 81 the bond bear market ended w/interest rates over 15% today, the debt bears little to no interest. bonds have been in a bull market for 35 years. it is very long in the tooth.

 

so, yes, in a flight from one colored paper to another could occur, but the trend for all colored paper is lower.  at some point the bond market will reject zero returns.  and that is the bottom line for the fiats.  if debt cannot attract buyers, the currency will go down

At present commodities are attracting attention, they have staged a wave up, out of bear market lows. its all so young here. on charts that i have previously posted, gold stocks have been in a 20year bear market.  so the strength of this 1st wave up is not surprising to me.  seasonally we are approaching the weak time of year.  i scaled back to no margin.  and i will look to buy, if i can get an entry between now and the 27th . mars enters scorpio on the 27th and i think gold will rally.  there is one issue that has attracted me. a high grade explorer in a safe jurisdiction. the commercials have leaned heavily on this market and as of yet gold has given little to no ground.  the sector has had many funds come into it , w/buys.   druckenmiller is , as he should be, very influential.  there will be a correction, but i still think we rally 1st.  gdxj made new highs yesterday, gdx or gold did not.   

dharma

Edited by dharma, 18 May 2016 - 10:07 AM.

[dougie]

High grade explorer: naming names?

[dougie]

IMO keep an eye on sau

[dharma]

sau =?

well the fed minutes are out!    lets pause here! and take stock of their december rise!

gold /miners bottomed in reaction to the fed raising rates in december.  gold didnt run out of steam until sometime in feb.  

in 79 volcker raised rates countless times and the metal surged higher= the fed was behind the curve

now , if you buy anything, it costs more today than a year ago.   so, i am saying the fed is behind the curve

how the market actually responds may be different  than the thought of raising rates=in other words, it would not surprise me 

if raising rates caused gold to move higher.  

not doing anything yet, 

dharma