1010 replies to this topic

[Russ]

i am very much with dharma here russ. i dont think the pullback will be very deep or very long 

 

we will see my friend 

Dharma also warned there could be a stock market selloff this fall that could drag the gold's down with it.  The oscillator showed the low last August on gld, it then also projected a high for Feb on gdxj and then showed the low for May, there is a good signal for a strong low in Oct or Nov. now.  Given the massive doji on the charts that showed up on Aug. 13, I doubt we will see a new high before the Oct/Nov low.... I am out of the market on nugt since July and it is now lower than where I sold.

[Russ]

i am very much with dharma here russ. i dont think the pullback will be very deep or very long 

 

we will see my friend 

From technician Ross Clark of Chartworks... "The longer and deeper a consolidation/correction process takes, the more energy it accumulates.

Once a breakout occurs on rising volume, the better the chance for a prolonged move. Simple

targets can be determined based upon the depth of the break that preceded the breakout.

The current target, based upon the 2018 low, is right here around $1530. A close below the 20-

day ema (currently $1481 and rising at $4 per day) could result in 61% retracement from May and

a test of the $1360 breakout. The 2003 example saw prices hold at the moving average, push

higher for three weeks to $390, then break the ema and drop to $320.

A worse-case correction, holding around the $1350 breakout, the 50-week ema and generating a

weekly Sequential 9 Buy Setup will keep the bull market alive."

[dougie]

i think you will both be right. move higher, hten big pullback into october time frame

fwiw

[gannman]

It's a wave 3 surprises to the upside but let's see what happens

Here right now we all have an opjnion

[hhh]

I can't resist JNUG here at 79. It just touched the uptrend line and it ought to bounce.

I let these go with a small loss. Resistance seems impenetrable over two days now at around 79. Will try to buy back on a plunge.

[dharma]

jackson hole these next days, the power brokers meet

here is mobius take on the present environment https://gracelandupd...9aug20gold1.png

the world is bent on lower rates. governments cant afford higher rates, the debt load is too great. during the base building years whatever happened seemed to put pressure on the pms.  all the while the debt grew. now the fruition of that policy is lower rates. in 73 currencies gold has made new highs

the strongest of the currencies is the dollar. an overwhelming majority of investment grade debt is in dollars. draghi is firing his bazooka jgp owns most of the debt and a %of the shares. and on and on.the usa is gong to 0 rates.and it will still be the fiat of choice. the other guys have screwed up even more! the worlds money is coming here agree or not the fact is the debt is unsustainable. so rates are going down.if a cb resists,it will be taken over by govt, as modi has done in india.the bowl pattern on the gold chart https://gracelandupd...9aug20gold3.png indicates that its a slow process until the overhead resistance gives way,then  mark up occurs

we could be starting the next leg right here? or this is B! in either event impulse will begin fairly soon

dharma

dharma what is your worry?

well its a crash in the broad market! which i believe we are heading for!in 40+years of investing i have never seen a crash that didnt suck everything down w/it.its the aftermath of the crash eg 08-09 that gets gold lathered up. here is another guys take (bob moriarity) on the coming  crash As regular readers will remember I have been calling for a general stock market top in late summer followed by a major crash in September/October. In my opinion we could well have a serious liquidity event. If that happens everything that will catch a bid will be dumped. It will be a great time to pick up the low hanging fruit just as it was in late 2008. I have been getting liquid in anticipation of a correction in gold and a crash in the market. If you agree, either get out of any margined position, stay liquid and put in some really stupid low stink bids.

[dharma]

this chart presents a bullish picture for gold

http://cdn.ceo.ca.s3...0C48A654889.png

dharma

[hhh]

Unless of course they both just turned the corner.

[senorBS]

jackson hole these next days, the power brokers meet

here is mobius take on the present environment https://gracelandupd...9aug20gold1.png

the world is bent on lower rates. governments cant afford higher rates, the debt load is too great. during the base building years whatever happened seemed to put pressure on the pms.  all the while the debt grew. now the fruition of that policy is lower rates. in 73 currencies gold has made new highs

the strongest of the currencies is the dollar. an overwhelming majority of investment grade debt is in dollars. draghi is firing his bazooka jgp owns most of the debt and a %of the shares. and on and on.the usa is gong to 0 rates.and it will still be the fiat of choice. the other guys have screwed up even more! the worlds money is coming here agree or not the fact is the debt is unsustainable. so rates are going down.if a cb resists,it will be taken over by govt, as modi has done in india.the bowl pattern on the gold chart https://gracelandupd...9aug20gold3.png indicates that its a slow process until the overhead resistance gives way,then  mark up occurs

we could be starting the next leg right here? or this is B! in either event impulse will begin fairly soon

dharma

dharma what is your worry?

well its a crash in the broad market! which i believe we are heading for!in 40+years of investing i have never seen a crash that didnt suck everything down w/it.its the aftermath of the crash eg 08-09 that gets gold lathered up. here is another guys take (bob moriarity) on the coming  crash As regular readers will remember I have been calling for a general stock market top in late summer followed by a major crash in September/October. In my opinion we could well have a serious liquidity event. If that happens everything that will catch a bid will be dumped. It will be a great time to pick up the low hanging fruit just as it was in late 2008. I have been getting liquid in anticipation of a correction in gold and a crash in the market. If you agree, either get out of any margined position, stay liquid and put in some really stupid low stink bids.

and is the GSR after a BIG daily five down IMO now ready to accelerate lower on a massive wave 3 down? decent chance IMO

 

Senor

[senorBS]

nice day, I keep (and everyone IMO should) looking at the monthly miner charts and for me its perspective and "Hakuna Matata" time,

seems like we are in the 1st or 2nd inning of this new Bull and the monthlies IMO suggest a lot higher and likely not too much

of a pullback yet, my dos centavos FWIW

 

Senor