3 replies to this topic

[cedartree]

The next few days look to be a shakeout in many markets. The dollar is in an up seasonal from 3/11 to 3/29. Bonds are in a down seasonal from 3/18 to 3/28. This will likely be bad for gold. CPI will be a possible catalyst. Also copper is looking very toppy here and we have a down seasonal coming up on 3/28 thru 4/6. Many opportunities for nimble traders. -Brian

[SilentOne]

Hi Brian,

The week that was. Weekly MACD kiss and downturn was not a good thing for bulls. It is very hard to be long the sector when the weekly is pointing down. Trust me on this one.

http://bigcharts.mar...&mocktick=1.gif

Silver will need to find legs real soon, basically a disconnect from the dollar. The dollar looks like it has legs from here.

Glad to see someone posting on the gold board.

cheers,

john

[Rock]

Silent, In late Feb. you called a downturn into March. Does that MACD whip change your e-wave thoughts? Paul

[SilentOne]

Hi Paul, I haven't been trolling the boards much the last week. The problem for PMs ahead lies in the USD and bonds (ie positive real rates), as both will provide headwind for gold/silver. We probably find a ST bottom in the next day or two, and then we see where we go from there. But in a nutshell, a break of HUI 190 leads to 170 - 180, and a further break there opens up too many possibilities. But I don't think the PM bull is over by any stretch. It will just need some time. I think the HUI triangle is still in play as I have posted in the last few months. I still hold my bullion, some CEF , some offshore PM funds and some juniors. No big swing positions until things clear up. cheers, john