79 replies to this topic

[jabat]

Russian and Chinese central banks are back to buying Gold for the month of June 2016

 

www.sharpesprixly.com

[dharma]

it looks to me like we will be range bound for a short period of time .. i do see strength in august, then a period of weakness for 2-3 months w/gold rising into years end

for now there are no new catalysts.   but the mountains of debt will be calling the shots. they will never be repaid the facade must continue.  the incumbent party will have to have things looking good into the election.  or at least have a good talk , which doesnt put food on folks tables.

dharma

[dharma]

HGNSI fell 13.5 points to 2.7%

 MarketVane’s bullish consensus rose a point to 58%,

 DSI rose 6 points to 56%.

these #s are not giddy,  to say the least. i would think at the top of this leg they will reflect the blue skies that indicate top

of course the market is the ultimate voice. 

dharma

[dharma]

i am looking at this decline as C of a correction. at present the hourly charts are showing divergences from oversold.  i am looking for this to end this week. the fed announces on wednesday.  their dream is to raise rates, instead , they will probably just threaten. these low rates have caused money velocity to continue to decline.   which keeps inflation below the 2% they are looking for

miners are declining more than gold which is not a good sign

especially since the miners. are down substantially compared to gold and i am not speaking in the immediate term , but from a bigger picture

dharma

Edited by dharma, 25 July 2016 - 10:27 AM.

[johngeorge]

dharma

 

I have bids in for a few miners today.  So far no takers. Regarding the miners heading lower I have no problem with draw down.  Been there many a time in the PM miners.  When they move lower I simply buy more.    I think I see what you mean by the miners "are down substantially compared to gold and i am not speaking in the immediate term , but from a bigger picture".  Being patient here regarding buying the physical.  Will see. 

[dharma]

i think we are very close to the bottom of this wave . gdx has good support at 26.8   today is options expiration . so i think the sellers try to push for 1300  thus the 1300 calls expire worthless. tomorrow is the fed. i doubt they raise trump is the outsider. saying the economy stinks.   raising rates will play right into trumps hands.  thursday is the boj. bernake went to japan to pitch helicopter money ie perp bonds. 0interext and no expiration. at 1st kuroda didnt like the proposal , lets see if he changes his tune. he was against negative rates . and you see what happened to that idea. japan has negative rates. 

gold has fallen in a wedge.  we are coming into a better seasonal time, august.  not considering the 1st few days of august.   

i am on the buy. maybe some later today. and maybe some after the fed announcement. depending on how things play out

dharma

[johngeorge]

I am in the buying hunt looking for a few of my favorite miners.  Did not buy today, but, if any more downside weakness in the miners tomorrow I will jump in. $BPGDM CHART

 

Gold appears to be acting well hanging around 1320 today.  To me 1375 and 1400 for gold this run certainly looks doable.  $GOLD PNF CHART

 

 

[dharma]

the lead line on the stochs is down to 20 ie an area where rallies occur from

today is the fed.  who is trapped by the huge mountain of debt.  sure they would love to raise rates. maybe in a bravado move , in front of the election , they would.  BUT i doubt it.  the establishment is against trump! giving him fuel is not a good idea from their view

china, has a bid under the market. its not the bid the kwn dreamers think it is   http://www.scrapregi...00-tons-by-2020  but it is there and sizable. the fact of the matter is demand is increasing while supply is diminishing    which is why i am bullish on the explorers. i can wait

then there is abe/kuroda tomorrow. abe has added a new program of 28 ttttttttttrillion yen in spending above the 20ttttrillion yen that had been expected. now its up to kuroda to come up w/a plan to buy japanese stocks and bonds. meanwhile the average citizen sits on his cash. pushing the yen up. keep in mind japan has an aging population!

dharma

i have found 2 other miners that meet my criteria. havent begun accumulation yet.   will wait for the correction . they are long term buys

and i finished accumulating another one.  which is permitted and fully funded  until production begins.  these mines like gpl that have to come to market take the wind out of the stock price!

Edited by dharma, 27 July 2016 - 10:09 AM.

[dharma]

@best the fed is talking about .25 basis pts move!! how strong is the economy if they cant  even raise .25 . interest rates are at historic lows. 

the fed is stuck .look for them in the hotel california!

gold +10 after the compulsory pull back after the fed statement.  

dharma

[dharma]

http://seasonalchart...talle_gold.html    i now use this in conjunction w/this http://seasonalcharts.com/classics_gold.html   due to the position of the stochs , i do think we have bottomed. however

1309 support

1325 support

1341 ends this price cycle and strong resistance

1358 breaks into the next higher price cycle

normally when the stochs get to these levels the rally is 50-150 

dharma

Edited by dharma, 27 July 2016 - 01:54 PM.