24 replies to this topic

[dougie]

Thank you John! one more pop up to complete the c of B possible. i concur this scenario could indeed unfold something more complex might be brewing though.

[stubaby]

Thank you John! one more pop up to complete the c of B possible.
i concur this scenario could indeed unfold
something more complex might be brewing though.

Dougie:

All of my long-term buys came at or around the 65-wk MA (310 day MA):

http://stockcharts.com/h-sc/ui?s=$GOL...amp;a=110068403

[dharma]

stubaby, look how infrequently gold comes to the 65 week. it could work out this way, but its not something to bank on. if it happens back up the truck john- that is my least favorite alternate count. in your favor is seasonality. but we are about 1/2 way through this cycle. and gold had the feel of an impulse, w/ a nice blast out of the gate. i have a really short term trading system, that has whipsaws, it gave a sell today, however this is the 2nd sell its given off the lows. it has done well on this move. so i am well aware of that possibility. i have learned to give bull markets the benefit of the doubt. it really doesnt matter to me, i have stayed 100%invested since the 05 lows and i expect to continue to be 100% invested until well into the parabolic blowoff. it has served me well all the best. dharma

[dharma]

i have noticed that it seems that everyone is calling for a top on crude oil. this market will extend, i give this possibility a very high probability based on what i am seeing. this last high took out rsi divergences, which is a clue the market is giving. i am still bullish for gold on all time frames. yesterday came down to test. 236 point . and we are bouncing off that today. i look for oil to make new highs. my gold targets are still 980-1k for the end of june. dharma

[dharma]

post #23 i am still on a sell on my short term trading system, i will post when it gives a buy dharma