22 replies to this topic

[greenie]

Amigo, Every chart I look at, S&P, BSE India, Gold - look the same to me from May high to now. So, it is either they all go to the moon or all to hell. Do you agree? Now, if S&P or Indian stock market do not start a 3 or 3 now, how could gold stocks do the same based on chart patterns? Gracias, G.

[Tor]

I see quite a few stocks above their 50 and 200DMA's and with the potential for the 50 DMA to turn upwards. Does look like a make or break scenario from what I see FWIW.

[senorBS]

Si amigo, Senor does think that a grande upside acceleration is muy posisble from here. But if it does not happen there is of course always the other side of the peso, which in this case would maybe have gold decline to the 590-600 area and the HUI to the 300 area. Senor now likes the bullish outlook, but if prices do not rally rapido soon he thinks we could see that selloff. Pure BS Senor

[dharma]

yes, i am in that camp! selloff to complete the correction and then acceleration. w/most of my position, i dont trade. its a bull market and that is the key. as long as higher highs and higher lows are the name of the game, i buy and hold. its the way to make big profits. trading one makes good profits. but the big $$$ is made holding. dharma errr jesse livermore

[SilentOne]

Senor now likes the bullish outlook, but if prices do not rally rapido soon he thinks we could see that selloff.

It won't come today, but in a day or two a good rally should begin. Let Bernanke have his day. Then we can get going. Metals may be better performing here into the next top.

cheers,

john

Edited by SilentOne, 08 August 2006 - 09:26 AM.

[senorBS]

Maybe too many amigos are in that camp looking for one more sharp selloff before the grande move higher. With so many things pointing mucho norte for the long term, Senor would rather have to ride out a 10-20% decline then be out and miss a 50-100% rally. Therefore Senor is not leveraged but considers himself in substantial long term rather than trading positions. BS all the way Senor

[gvc]

imo,, if August gold doesn't break the recent closing low of 615.2 made on July 24 by the end of this week, then its not going to ....at least this year

[SilentOne]

Maybe too many amigos are in that camp looking for one more sharp selloff before the grande move higher.

I don't think a sharp selloff is likely here. But it is worth waiting out the FED IMO.

cheers,

john

[beta]

$HUI 15-min chart coiling for a big move -- 335/347 are key pivots

[dharma]

fed didnt raise which is what i suspected. totally political bs. shorted iwm 69.8. they will have to raise rates in the future. we are in a 70s style stagflation. blast off in gold in the 4th quarter. other thoughts posted above. if someone needs a road map get a chart of gold from after the correction to 102 . dharma