64 replies to this topic

[johngeorge]

From Stewart Thomson May 31, 2016

Clash Of The Titans Propels Gold

[dharma]

lets start here http://seasonalchart...ssics_gold.html    we are in the seasonal weak time of year. so , caution is warranted.  miners are still being bought and are under accumulation. i have one or 2 more on my shopping list. but , i am waiting. below 1200 beckons.  

yesterday , india reported its gdp #s for march =+7.9% .  the monsoons havent begun yet. as a generalization, india has been non existent in the gold market. they got hit w/a new tax on gold jewelry , which they have been fighting . and the 10% is still in effect.  they will be back in the market for diwali and before that for the monsoon=late june to july. 

 

so martys theory is govt has problems and stocks soar as a result of folks buying stocks getting out of govt . bonds etc. i dont think so, govt gets into trouble, folks will go to tangibles.  you cant make this stuff up  its my attraction to diamond miners.  

dharma

[johngeorge]

dharma

 

"i have one or 2 more on my shopping list. but , i am waiting. below 1200 beckons."

 

I seem to be on the same page with you at this time.  I am looking at 4 stocks to buy including 1 diamond, but, am waiting to buy as you indicated it is the weak season.  Tangibles are the place I want to be.  For now I do own some long term US govt bond etf's and long term municipal etf's which have been good to me.  However, I will be a seller of those when longer term rates have a sustained rise from here. 

 

Thanks for the threads. Your commentary I find very insightful and please know it is much appreciated.

[dharma]

thanks jg, this is encouraging

watching the jpy/usd.  gold oversold, and diverging on daily 9bar rsi wilder. 

the hourly diverging as well

gdx did not follow gold to new lows, in fact it hasnt taken out yesterdays lows

at the least we will have a bounce, if not a new leg. i am leaning towards a bounce. based on the seasonals

the pullback will be a buying op. maybe the best one before wave 3!?

note

in the lassonde audio , he mentions the chinese propensity towards gambling. i tend to agree w/him here will the shanghai 

become a gambling machine?   we are very early in the game. the chorus for below 1k is loud, and although marty et al, have missed the over 100% gains. they still have lots of believers and followers.   we will see in a year or two if they deserve the notoriety! 

dharma

one note on diamonds/colored stones. they will have their day, but it comes later in the cycle so buying a diamond miner now 

one will need lots of patience. but the rewards, if its a survivor will be outsized note olvrf was over 2 in 11 

Edited by dharma, 01 June 2016 - 02:45 PM.

[dharma]

this is a classic richard russell piece that i  read for the 1st time, back when i was a subscriber

http://dowtheorylett..._Free/2494.aspx

to me i explains  the psychology  of the investor

enjoy

dharma

[dharma]

gld 870 tons yesterday=bullish. i am looking for a bounce from over sold conditions, then into the seasonal lows. i am not looking for new lows, ie below 1045. waiting . doing nothing. 

dharma

[dharma]

sentiment

 The HGNSI fell 5.7 points to 2.63%

. MarketVane’s bullish consensus was unchanged at 49%,

 DSI fell 3 points to just 15%, which is back to early jan #s

seems to me a few more specs need to be shaken out. which 

fits w/the seasonal weakness

this will end w/a projected good monsoon and diwali buying as it usually does 

dharma

[johngeorge]

June 4, 2016 Interview with Andrew Maguire, London based gold wholesaler, gives his views on gold.

[dharma]

fridays jump in the gdx was the largest one day jump in 7 yrs.  i am cautious, havent done anything, but i am expecting more follow through. 

it was an 11% gain in gdx, we are now consolidating that gain.  i am not that concerned what the fed does or doesnt do.  rates rose steadily from 72 -79 and so did the price of gold.   i am looking for some more follow through , before this phase is finished. i am keeping in mind we are in the seasonal weak time of year

dharma

[dharma]

either we finished the correction thursday, and friday was the kick off to wave 3 or we are in B here. fridays action was convincing, but the situation is still not clear. i am riding  china is encouraging its citizens to buy gold .   the indian monsoon begins soon and then their is diwali. if we havent started wave 3 i suspect it begins fairly soon.   

dharma

china , then india now has gold investors backs . they are coming for the gold your miners produce!

Edited by dharma, 07 June 2016 - 01:45 PM.