134 replies to this topic

[dharma]

gold topped or made its high in july

the mining indexes made their highs in august. 

last week saw the indexes take a substantial hit

 i believe that we are in correction mode

the advance has been good to me, so i will now take some off the table on the B wave rally

the correction will provide  an opportunity to stock up on the very best performing miners   i am a pretty good stock picker

i look for this correction to last into september. and an outside chance into october

normally corrections in a trending bull market last maximum of 3 months.  so we shall see

there are so many events in september. eg the fed  meets. the boj meets the same day. and the sdr comes up

which will be major for china the newest member. not to mention us election. french election and italian referendum

i will look for oversold conditions w/divergences to step in. . this is my ideal set up. but i wont be cute. either. i do think wave 3 begins then.  of course my core is not to be touched at this point. miners are still undervalued.  just not ridiculously so like in dec/jan.  

dharma

Edited by dharma, 29 August 2016 - 09:47 AM.

[dharma]

i am detecting india back in the market

the gdx has support , which has been broken @27.5  now this could be a scam break, or it could be an indication of a trend change. the oscillators are oversold, so at the least a bounce is in order.  which is what i am looking for.  but, i will be prepared if it turns out to be impulse. yes, i realize hadik is bearish here.  my focus is the market.    now gld has only had 2 tons removed from the 960 tons it held , this says to me  investors have taken to this market its a sea change

also the price of gold used to mirror the feds balance sheet which has lost this relationship, i think its a temporary breach .  keep in mind the fed is an independent organisation owned by the banksters.  so no way do they represent the populace

dharma

[gannman]

Thanks I like sep also

[cafeflorida]

I have no plans to re-enter a position in the miners until January or perhaps as late as February.
    
The late Oct./Nov. advance off the bottom might be worth a short term trade, (Mercury/Sun conjunction)
but a sustained advance will probably not be possible until we clear January, after the Mercury
direct station on Saturn on January 8.
    
Those configurations are powerfully bearish for metals.   There's a pretty fair probability
that the bottom, perhaps set in October, will be tested in January coming off that Mercury station.
That's what it looks like to me.

[dharma]

thanks cafeflorida,  whenever my parameters are met , i will buy until then i am lightly peeling away, raising cash. there are so many events in september  which can be game changers. china has been accepted in the sdr . the g20 meets sept 4th china feels it is overexposed to the dollar  the world bank will follow through on issuing sdr  bonds denominated in yuan. to do so china will have to disclose the amount of gold it holds as required by the imf.  china will support and buy the sdr bonds denominated in yuan., and thus have less exposure to the dollar.  this is huge. then on sept 30th china officially joins the sdr basket of currencies

i do see a correction. 

cafeflorida. i do jyotish.  and i use the charts now of the shanghai and the dubai quattro.  gold is much more prominent in these charts then on the comex.   

meet my parameters and i am back to all in. 

dharma

[dharma]

at the 1310 support  gdx also in support. the market may be under pressure into the jobs report?

dharma

[stubaby]

at the 1310 support  gdx also in support. the market may be under pressure into the jobs report?

dharma

I use primarily $XAU for my counts and support/resistance - today we hit key support levels, utilizing about three different methodologies and several different time-frames.  I was/am in accumulation mode here, FWIW     It feels "right" because it is never easy to pull the 'buy trigger' when it is right and today fit that parameter.  Am playing the B wave here (primary) and outside chance the beginnings of a Wave 3 (secondary).  By the way need to move above Friday's high print for confirmation of all this!

 

Good Luck to all!

[dasein]

http://video.cnbc.co...ideo=3000547154

[cafeflorida]

cafeflorida. i do jyotish.  and i use the charts now of the shanghai and the dubai quattro.  gold is much more prominent in these charts then on the comex.   

meet my parameters and i am back to all in. 

dharma

Did you find an incorporation date for the Shanghai Gold exchange..I never did.

All I ever found on Shanghai is the opening date of October 30, 2002, which means nothing.

[dharma]

that is when the exchange came into existence

gold started trading april 19,2016 @1015 in shanghai

that is what i am using. and i use it in combination w/the dubai quattro and ny comex. i study all 3 

dharma 

stu it is always difficult to buy at lows.  there are always so many reasons and scenarios to stay away.  

 but risk is minimal.  of course buying the bottom probably occurs more than once

dharma