94 replies to this topic

[johngeorge]

A foretaste of things to come?  Interest rates

[dharma]

@ some point down the road , diamonds are going to gain in popularity as a store of wealth. they are undetectable. very small
and quite valuable. tangibles will be the thing, no one will trust paper. this is a good time to investigate diamond miners.
personally i will avoid s/africa . there are a couple of miners in n/america small companies. you may not come to this
conclusion about diamonds on your buy list. there are lots of tangibles.
dharma

[stubaby]

dharma:

 

FWIW, "feels" like the beginning of the "heart" (Wave 3) of the final capitulation sequence - should end in next 2 weeks, then final Waves 4 and 5 into late December - Wave 5 may or may not make a low lower than the end of Wave 3!

[dharma]

could work out like that , thanks for your input stu
i am thinking it ends next week. as always we shall see. once the market enters correction mode. i step back and watch
interesting that the bonds are tanking rates are rising http://stockcharts.com/h-sc/ui?s=tlt
this is an indication of inflation on the horizon. rising wage pressures are on the horizon. for now rising rates are not
gold bullish but they will be support 1266, 1261, and 1245 still thinking low in november and bottom. not married to it
dont want to get thrown by a curve ball. if deflation is to be replaced by stagflation, that change will be very bullish for
miners.
dharma

[dharma]

http://www.zerohedge...-night-election
dharma
if in fact this turns out to be a wave 2 then the psychology should change back to bearish. this wave seems to be
achieving that. watch your feelings.

Edited by dharma, 10 November 2016 - 11:41 AM.

[goldfungus]

http://www.zerohedge...-night-election
dharma
if in fact this turns out to be a wave 2 then the psychology should change back to bearish. this wave seems to be
achieving that. watch your feelings.

"Watch your feelings." Absolutely. 

[dougie]

Ugly action. Maybe the move off the lows this year really WAS corrective

[dharma]

full moons can be tops they can also be bottoms. this is one emotional market yesterday morning for a blink of an eye gold was +60
today it looks like gold is going to be worthless. anyone notice silver remains up on the day. copper , zinc and base metals have
been on a tear. we are very very close here.
dharma

[stubaby]

dharma:

 

FWIW, "feels" like the beginning of the "heart" (Wave 3) of the final capitulation sequence - should end in next 2 weeks, then final Waves 4 and 5 into late December - Wave 5 may or may not make a low lower than the end of Wave 3!

Perhaps - 1 of 3 completed at the close - now a Wave 2 bounce (23.6-38.2%) - then Wave 3 towards mid-to-upper 170's on HUI and low-to-mid 70's on XAU - Ugly action - but no panic yet!

[tradesurfer]

Lets talk long term because gold moves so darn slow anyway.

 

The US Dollar index looks darn strong going into 2017, looks like a breakout candidate north to me.

 

So one would think that should put some downward pressure on gold for at least part of 2017.

 

The yearly gold chart shows that the current 2016 bar has not achieved a northward down trend breakout and does not appear likely to do so this year.

 

The 2017 price bar for gold could consolidate between 1045 and 1225.    If the US dollar really super spikes higher, then maybe 1045 will not hold ?  hard to say.

 

There could be another huge buying opportunity in gold, focus on the yearly chart.

 

Gold had 10 STraight years up... so from a ratio perspective, that means we need how many years down before uptrend resumes ? 6 ?

 

Edited by tradesurfer, 10 November 2016 - 06:04 PM.