105 replies to this topic

[goldfungus]

Howabout the 20.34 gap?

I can't say it won't but bulls usually don't let anyone in. The 22 gap might not even happen. bwtfdik

[dharma]

.382=20.88gdx we got oversold on the hourlies.  one more shot down creating hourly divergences  

looking for this to end soon.  http://www.forbes.co...e/#ff0499c24c0d  druckenmiller  

dharma

[dougie]

But deep 2s happen in bulls surely ? So we might scare the crap out of some new bulls here first

Not saying it will happen and frankly gold is sussijg out this whole negative interest thing

[dharma]

moeny velocity https://research.stl...red2/series/M2V this is an important factor/chart it shows money velocity  has been in a down trend for about 20 years, when this chart reverses it will indicate better to hold stuff than money. no indications yet!

the largest correction since the advance in the miners has been 12% this correction is mighty close to that . the 20dma is about @a 12% correction.

we got oversold yesterday on the hourly charts.  we had a pop this am  which rather quickly faded. i am waiting to see if we make lower lows and create divergences on the hourly charts. i bought some yesterday, and am waiting to finish off my buying . 

the job creation will not be as robust as the market anticipates. the adp #s yesterday morning gave a glimpse of that.  the tendency has been sell off into the # and rally out of it.  my cycle stuff does not show the rally is finished here.  i do see rally in late may and june. the sentiment #s also did not give indications of a frothy market, that is yet to come.  hgnsi unch @60 % eg.  

stanley druckenmiller is one of the sharpest knives in the drawer his fund had made 30% a year for 30 years.  in the forbes piece i posted yesterday afternoon  his speech was included. bottom line"buy gold"

this morning , early on, the miners exhibited good pent up demand. the rally faded along w/the gold price.  

dharma

[dharma]

the way the market looks to me right here right now, tomorrow will mark the low and turn 

i will be prepared. today looked alot like yesterday. selling into the gold closed marked the low for 

the day.  oi expanded yesterday=fresh spec short selling. look for them to have to cover

dharma

1307 is being well defended. 

[johngeorge]

I was buying this afternoon. 

[dharma]

bs or gs was calling for 240k creation of jobs. were they pointing one way so the market went the other way? they are losing their mojo

this still could beB w/C of the correction to follow , i am open to that. But, w/the pullback backtesting the breakout of the triangle i am more inclined to think  we are on our way.  bull markets dont let folks get in easily and this bull so far has been the perfect example of that. w/maund, armstrong et al looking the other way and pointing to bear rules in a bull. i feel most have missed the move and the gold gurus  gave the too far too fast bs so they hedged or tossed dirt cheap miners overboard. listen i had several accounts w/sinclair in 79 accounts that he managed and when gold broke above 400 he hedged the position "too far too fast"  so i heard that one before. the 1307 is the bears fortress , w/the bradley coming up and a favorable up cycle approaching.i feel 1307 will fall. 

spdr hit a multi year high this morning hitting 829tons, this is bull market friendly

china continues to build out the infrastructure for a bull markethttp://www.forbes.co...m/#65f200a41803

i am skeptical that martys theory , they all come back to the dollar , will last it is abadly flawed currency lugging around the biggest mountain of debt. sure there will be rallies, but gold responds to different things at different times. there were periods where the dollar and gold rose.

its a new day. bulls climb a wall of worry so if you worried pointing here and there. i agree lots to worry about . get used to it

dharma

this correction in the miners was less than the 12% which was the largest gdx correction since we turned up in dec. 

Edited by dharma, 06 May 2016 - 09:46 AM.

[dharma]

what i like is its really quiet on the board. no high 5ing  just real quiet

1293,1309(1307 on the chart),1325,1341 finishes the cycle

 

dharma

[dharma]

w/this cot report caution is now warranted. the commercials got  to a high of 309k in 09 this is mighty close and may be a factor in here

http://news.goldseek.../1462563253.php

dharma

[johngeorge]

Rick Rule interviewed May 6th on Sprott Money

 

US Mint has Gold Eagles for sale, but, no Silver Eagles.  Perhaps another case of a shortage of silver blanks.