22 replies to this topic

[dharma]

hard to make out what this is. the down today like a C down an ther eare three clear waves down after 5 up so a wave 2 deep retrace is the bullish read.
bearish read is this is all part of a B

dougie- i am reading this, until/if we make new lows then this is wrong. that we are in C of2 which may be finished or 1 more truncated wave. yes, if we make new lows then we are still in C of the ABC off the highs. dharma brutal

[dharma]

folks were puking up shares yesterday. and also @the last low as well. sinclair on his site can attest to that by the #of calls he is getting. i believe this is 76 gold204-102 only this time it is bigger decline focused in the miners the dollar is overbought w/divergences as all can see the fundamental backdrop gets worse and worse and superman is not going to fly in here and save the day. i am a technician, but i take a peak @the fundamentals and they speak for themselves. now in the last gold bull run @the top coin dealers were busy, but the interest was in selling silver family heirlooms. the lines were enormous. this time folks are buying and premiums are widening. the paper gold market and the actual physical gold market are going to disconnect even more. more banks will fail and the bailout is the road to the destruction of the currency. @one time i was a futures trader and i traded the swings. now, although , this has been a drubbing i have decided to ride this bull and i believe it will prove to be very rewarding, where today it is a hated sector, in the future it will see lots of love. from 29-32 hm went from 3 to 144. yes , gold didnt trade then, today i believe one has to have the right mix of physical vs miners. this is a very tough game. gold is the competitor of fiat. and if history is any guide, no fiat currency has ever lasted. so i sit here and i await outstanding gains. i am not a gold bug, or blind. i have not seen a bull market, in my life time end w/a whimper. they all end in a parabolic blowoff. it is human nature, greed/fear and this bull will be no different. every market that was in a bull went to excess. this will be no different. this is a professional board and i respect all here. my intent, although, i may get drawn into the fray, is to wait for new highs to post again. i have stated my thoughts here. i am not going to change until the market goes to excess, at which time it will be time to bail. for me this is a vehicle. buying and holding cmgi or jdsu took imagination. and memory of tulip bulbs. this market has history as its basis. i can be very patient as many on this board are, i expect to be rewarded handsomely. historically, sept/oct are pivotal months. this year will be no different. oh and welcome to weimar. dharm

[dougie]

great post dharma and thanks for your consitent efforts to educate