134 replies to this topic

[goldfungus]

if one looks at a weekly gold chart there is a big bull wedge . breaking out of this pattern would be a very bullish indication for higher prices. the metal is banging on the breakout point now.  the oscillators are turning up  from an oversold condition. 

the board has not been inspiring . i can and do talk w/gannman privately so no need to post.  my time is valuable to me. i try to use the time i am on the computer for research.   research is what helps to make money.   so far today is normal . we got to the end of the price cycle 1341 yesterday, now we need to see if we can break into the next price cycle 1358  , we need at least a couple of closes above that # to indicate we are going to assault the highs 

 

dharma

Most people on this board are really bears, IMO. I enjoy reading your posts as well as Gannman's. If this is a bull, and I believe it is, I buy every big pullback and NEVER sell any investment positions. If I posted "Be right and sit tight" once a week I would probably be doing every prospective gold investor a big favor! 

Edited by goldfungus, 07 September 2016 - 12:21 PM.

[dharma]

dont know about that , i think most are just confused. your strategy in a bull, which i believe this is , is the right one. yes , there are drawdowns, its part of stepping into the water.  

 

hgnsi surged to 0 , oscillators crossed on stochs 14,7,7 series  and are turning up= bullish

 

today the market waits on the ecb , which is announced tomorrow.  its a race to 0 for the fiats. down the stretch they come w/kuroda in the lead( he announces 21st, hmmm same day as the fed. ) now its draghi jocking for position, his stride is for infinity and beyond ( buzz light year the bernack)  . they dont see its their thought that got us into this mess. they just think they havent done enough. so more will come and i think 17 and 18 will see a whole lot. more . euro at 0 to mostly negative rates , w/the ecb buying bonds(qe)etc.  i think draghi announces more of the same and maybe an increase in the size.   by the way this is all gold friendly which is not just in a wedge pattern on the weekly, but also in an inverse h&s pattern which is projecting alot higher. 

dharma

[dougie]

i still thipnk the correction HAS NOT run its course.

I remain long but may lighten manana

[dougie]

Hadik now sees likely trek down to late September lows initially as strong possibility

[dougie]

I think he might be inverted with late September high, ?double top, moving down to Dec

[dharma]

what is important is where do i have my stops. the rest is all speculation. break the 1306 and the trades i put on are gone.  it seems the market is fixated right here on the fed raising rates on the 21sept.   if not then politically the next time they can do that is dec .  now when they raised rates last time , dec, the yen took off against the dollar and gold had a big rally.    when inflation finally shows up the fed will remain behind the curve.   in spite of all the talk rising rates will not be economy friendly.  

i think the much bigger event is chinas entrance in the sdr market. to do so , china will have to reveal its gold hoard. this happens on the 30th and china , instead of buying and owning dollars , will be allowed to issue sdrs which china and other nations can buy and own this will be a game changer for the dollar and gold. w/that said my stops are in place, if wrong ,i will get out even . and if not i ride. 

core doesnt come into question by definition.  if wrong i have my buy list.  if right i ride what i have

yes, i read hadik,  but i also read the market. and i am not sold on any scenario here. but it is a bull and i give the benefit to the prevailing trend, so i am looking for 1400s and fairly soon. . oh yeah did i ever mention that i thought the fed was in hotel california.  such a lovely place

dharma

[dharma]

if the broad market has topped, which it very well have. that sucking sound of lower equities will bring gold/miners w/it. i made that mistake in 87 short spx futures and long miners.  the position worked out because i was 10x as short sp as i was long miners.  this could be a new down cycle kicking in here.  i have turned cautious. 

dharma

[dougie]

Hadik has o hot hand that is for sure

[dougie]

[dharma]

the fed is moving markets around by their own confusion. will they or wont they??? jamie diamond. "lets do it "

if they do do it the broad market is going to get hit hard

gold and the miners on a yo yo. i remain pretty much all in.   and are riding .  jg i am in to buy what we talked about

folks have already prepared for the correction. but have they prepared for new highs ? if not they will chase

dharma

the boj is up on the 21st also. the boj already owns all the bonds. their policies have not given the desired results. kuroda will try harder. dont worry

Edited by dharma, 12 September 2016 - 01:59 PM.