134 replies to this topic

[dougie]

I favor at least one more move down

Second fav is 1-2 months of sideways to bore us all asleep

[johngeorge]

dougie

 

I think you and dharma have it right, ie., the low will be in October.  Of course you have a 2nd theory about putting us to sleep.  You may well be right on that.  Gold can move so quickly, and if a moonshot is in the cards, then while we're sleeping it takes off and leaves us at the station.  That is why I always have enough stocks to catch any move higher.  Yes, lots of draw down from time to time.  Mining stocks are a real bundle to trade and it takes lots of patience, work, and just plain ole guts to buy when all seems lost. 

 

My greatest admiration is those who trade mining stocks for a living and post here.  Can't thank those folks enough for all I have learned from them and the money they have put in my pocket over the years.  What a wonderful group of people!!!

[dougie]

I second that sentiment

[dharma]

ok , while folks are sleeping, opec decided to at least try to put limits on production, oil broke out of its declining wedge.
in the last bull oil and gold moved like a hand to a glove. this time the relationship has gotten out of alignment. i think this
comes back into a more normal relationship. yes, there are other factors such as hybrids and electric cars, gone are the gas
guzzlers of the 70s . but the fact remains oil is the grease of the economy things move based on oil!!!!
the gld still holds 949 tons. so the scams that are being perpetrated are not yet getting institutional money to cough up their
holdings. the bankster scams are not moving the markets 50 at 3am. china is trading then. so the scams are smaller but still
present. i raised some cash to buy issues that i think will outperform on the next leg. i spend some time investigating companies
so does the competition. outsized profits come from dd. and that is my motivation. not to duck under a pillow and peer out is it
over yet???? we may be on the cusp of 3 of C 1341 is the end of this price cycle and the last rally could not make headway
above that # 1229 is the start of that price cycle i think the correction is maintained w/in those parameters. but i have
been wrong before. anyway my drill is always the same. buy oversold and diverging. so , i wait for that occurrence.
dharma

[johngeorge]

Did some modest buying this am.  Added to a position in a highly speculative explorer.  Fridays seem not to treat gold very well.  Up this am and back down and...........  I am in watchful waiting mode and will buy when I see what I believe to be a bargain. 

[dharma]

the key to opec production cuts is this will curtail new production. this is the cusp of the bull market era
for gold!! and oil
i am as bullish as anyone long term for gold. BUT , right here i am looking for a correction . china is on
holiday this week ,so beware. i think oct will produce a low for gold. miners are still way undervalued
in spite of the huge advance since dec
seems to me the resolution of indecision in several markets will come this month in retrospect this correction
will be a blip.
patiently waiting to put this correction in the rear view mirror. but am prepared for its arrival
the trap door of 1306 beckons. and then the 200dma
dharma

Edited by dharma, 03 October 2016 - 10:41 AM.

[johngeorge]

Interview with Pierre Lassonde Oct 1, 2016:    He is buying now. 

[dougie]

gold at support here. if it fails we go down a ways 

[dharma]

pierre is not a trader, he will hold these things until gold expresses and reflects a price that he feels is appropriate.

this is what i am looking for.
i think the 200dma beckons.
we are now oversold
jobs report friday. gold has a tendency to decline into the report and rally out of it
bradley bottom on the 19th
my mo is always buy oversold w/divergences. its not rocket science
weak hands getting shaken out.
i have my list.
this is wave 2 then after the rally 2of3 will be the last opportunity to buy cheap
not in a big hurry its october
and the broad market still looks like it needs to correct
dollar looks set to rally against the yen
dharma

Edited by dharma, 04 October 2016 - 09:42 AM.

[johngeorge]

No sideways action today.  Perhaps we get a dead cat bounce tomorrow with a chance to buy some DUST (or other bear vehicle) and/or sell a position(s) you would rather not own now.  As many have posted today it could be awhile before we see a bottom in the mining stocks.  My portfolio took a good sized hit today and expect that it may well experience more of that until the mining stocks bottom out.  The good thing for me is that I stored away a sizable amount of dry powder just for buying at that bottom.  I am also looking to buy some physical here.

 

A big thank you to all the posters   and good trading to all.