33 replies to this topic

[dharma]

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and the corporations which grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered.” “I sincerely believe that banking institutions are more dangerous to our liberties than standing armies. The issuing power should be taken from the banks and restored to the people to whom it properly belongs.” “I wish it were possible to obtain a single amendment to our Constitution - taking from the federal government their power of borrowing.” Thomas Jefferson there is a seasonal pull downward here, as well as cyclical pull downward. i expect this to be fairly short lived-3-4weeks maximum. i expect 850 will hold and may not be tested. big support is @910. on this last rise in the metals, platinum was a non existent participant. it didnt do anything. as a trader, this was your tell. do not fall in love w/the correction, it will do what corrections do, ie make one uncertain as to the main trend. a buying opportunity is approaching. i expect @ some point gold will separate from base metals, ags, and oil. but not yet. good trading dharma

[gvc]

personally, I dont see a major correction at this time except what usually happens in an option expiration week. Gold still has plenty of room to run up in this current upswing after a few day pause. The weekly gold chart still shows a RSI reading of under 70. Most of the recent intermediate rally caps have been over the 70 mark. and the adx is showing good potential for an upwards shot . I was studying open interest figures for past rallies. There usually is a steady increase in the first few weeks when gold is rising , then a short pullback for a week, then rising figures for a few more weeks. Gold open interest bottomed out the with the June16th COT report and has risen every week since. Probably will show a increase for the report period ending yesterday but then decline a bit for next Tuesday's report with the current correction, but then I think its up strongly for a few more weeks after.

[dharma]

xau/hui have held the 50% point of this rally so far, and as of yesterdays close we were oversold and diverging on the hui. this correction may not be deep. or it goes sideways and chews up clock. any weakness will prove to have been a buying opportunity 2 months down the line. volatility is about to be a way of life in this market w/a long side bias. i am listening to the market and it is going to have a big rally fairly soon. we have to get through july. dharma

[dharma]

that is over sold on the hourly charts dharma

[diogenes227]

that is over sold on the hourly charts dharma

Getting some intraday buys. GDX, GOLD, GG, ABX, a few others. So buying a little.

Good luck to all longs.

[diogenes227]

that is over sold on the hourly charts dharma

Getting some intraday buys. GDX, GOLD, GG, ABX, a few others. So buying a little.

Good luck to all longs.

Already stopped out of GG. That didn't take long.

Stocks appear to be getting clonked on the renewed upturn in the general market.

[diogenes227]

Stopped out of everything. Yuck.

[dougie]

C down in progress scenario is well and alive imo

[dharma]

C down in progress scenario is well and alive imo

yes, you have been saying that since fib pointed it out. no matter what wave this turns out to be, i dont think gold breaks 850. while there is a glut of oil ,w/tankers on the water, its not the case for gold. there are seasonal pressures and i see cyclic pressures til the end of the month. it will be a short lived thing. of course i could be wrong. dharma

[swanstkdh]

C down in progress scenario is well and alive imo

yes, you have been saying that since fib pointed it out. no matter what wave this turns out to be, i dont think gold breaks 850. while there is a glut of oil ,w/tankers on the water, its not the case for gold. there are seasonal pressures and i see cyclic pressures til the end of the month. it will be a short lived thing. of course i could be wrong. dharma

I love trading vista gold. I saw it in a 4th wave up and now it going into its 5th wave down of this corrective TREND DOWN from the 06 high. This could be its grande 2 down and hold on if after its 5th wave down it rockets into its 3rd grande wave up. I will buy it soon expecting that. One up of grande 3 up. Wouldnt ya love it.