20 replies to this topic

[johngeorge]

dharma Thank you for continuing to update your thoughts and analysis here. PM's have been ragged and you smooth it out for us. Best to you.

[dharma]

now that was truly amazing, faster than a speeding bullet, the gold market dropped $20 in literally minutes. fight inflation pummel gold. so there is apparently w/gold/xau being rejected the last 2days, more work to do on the downside. the larger cycles calling for a low in july-august. patience is required, and if you trade this sector long enough, you too will be called mahatma! dharma

[dharma]

yesterday was interesting, gold got a body slam, and yet the xau/hui were up. miners performed well, all things considered. i dont think much will happen over the summer. this market one only wants to buy weakness(@this point) and sell into strength. its a traders delight. i have had the same count as fib displays above, thus my 980-1k target or it will be a 1 and then a 2 back to the lows. in either case, nothing significant is in the cards. as always the case w/trading, one doesnt want to do things just for the sake of doing them. its always better to pick your spots. losing money puts ones head in a negative place and messes up ones psychology, which is most important to successful trading. dharma

Edited by dharma, 24 June 2008 - 09:14 AM.

[dougie]

great advice Dharma: your name is apt

[dharma]

today is GOD speak. so not much will happen. the 1st move after the pronouncement is usually false.
jim paplava has an interesting piece on the manipulation in the juniors. if youve watched the juniors, youve noticed quite a bit of unnatural behavior

i expect the fed to change their language and nothing else. they are between a rock and a hard place. dharma

[dharma]

looks to me like xau/hui are finishing this downwave. a 3rd higher low in gold. i expect some launch soon. dharma

Edited by dharma, 25 June 2008 - 10:19 AM.

[dougie]

is that bull flag in the making here?

[dharma]

dougie, dont really see that, i am looking for Cof B. and i think we have either finished this downwave or there is 1more shot! in either event the larger move should be up, if not i will scratch my head!!!! this non action by the fed will keep the pressure on the dollar. dharma

[dougie]

yes,i am of the same count we have one more good shot up then C down into August imo

[dharma]

yes,i am of the same count we have one more good shot up then C down into August imo

cycles indicate to me could be july/august. and i will not be surprised if 850 holds, or if it is broken, not by much. the guys looking for 740 are dreaming! just my 2c
dharma