22 replies to this topic

[dharma]

well we are back into the 900 resistance. this time i think we take it out, looking for much higher #s. we shall see if this time is the charm. they have to do something wm is the latest bank to bite the dust. nothing like a shot to give us the necessary boost. dharma

[Woody]

well we are back into the 900 resistance. this time i think we take it out, looking for much higher #s. we shall see if this time is the charm. they have to do something wm is the latest bank to bite the dust. nothing like a shot to give us the necessary boost. dharma

hmmm.......just started nibbling at some Bear Funds in Gold and Oil, I see bear Flags on a bunch of Oil stocks, and on Gold its just in case Congress does manage to save the world on the weekend

Putting the trade on may be a good fade for you bulls........also thought I should put some money where my mouth is, will close out if Gold & XAU make new highs on this leg

[johngeorge]

dharma Interesting on WM being bought by JPM. No tax dollars involved. FDIC actually received 1.9 billion $ from the takeover. JPM stock up so far today while issuing stock to raise 10 billion $ in new capital. Hope that sends a message to Congress the capital markets are not broken.......................yet. Any ideas what is going on with SLW? Did they issue a bunch of new stock or something? TIA. Best to you. PS FWIW I am looking for 980 gold for the near term rally. Of course Bernanke wont lower interest rates so as to put more pressure on Congress to act quickly. What an a@{bleeeep}.

Edited by johngeorge, 26 September 2008 - 10:02 AM.

[dharma]

well we are back into the 900 resistance. this time i think we take it out, looking for much higher #s. we shall see if this time is the charm. they have to do something wm is the latest bank to bite the dust. nothing like a shot to give us the necessary boost. dharma

hmmm.......just started nibbling at some Bear Funds in Gold and Oil, I see bear Flags on a bunch of Oil stocks, and on Gold its just in case Congress does manage to save the world on the weekend

Putting the trade on may be a good fade for you bulls........also thought I should put some money where my mouth is, will close out if Gold & XAU make new highs on this leg

frankly, my battle is w/the market. what you do, makes little difference to me! go ahead short a bull market. dharma

[Woody]

well we are back into the 900 resistance. this time i think we take it out, looking for much higher #s. we shall see if this time is the charm. they have to do something wm is the latest bank to bite the dust. nothing like a shot to give us the necessary boost. dharma

hmmm.......just started nibbling at some Bear Funds in Gold and Oil, I see bear Flags on a bunch of Oil stocks, and on Gold its just in case Congress does manage to save the world on the weekend

Putting the trade on may be a good fade for you bulls........also thought I should put some money where my mouth is, will close out if Gold & XAU make new highs on this leg

frankly, my battle is w/the market. what you do, makes little difference to me! go ahead short a bull market. dharma

Dharma, you are a LT Bull and I respect that, my Time horizon is shorter, I will not hesitate to get long when conditions warrant, but for now the CRB, HUI, XAU, GDX all have declining 50 and 200 ema's, the 50 is below the 200 ema, and the indexes themselves are below or at 50 ema resistance, so by my guages we are not in a Bull Market Configuration, perhaps just a deep correction, perhaps a transition phase from Bull to Bear, I use mechanical indicators because i dont trust my own gut feel.we shall see how it plays out

[dharma]

so far, miners not dancing along, not a good sign. gold backing way off dharma

[Woody]

so far, miners not dancing along, not a good sign. gold backing way off dharma

Flat for the weekend now.......hourly Gold looks like Triangle, XAU consolidation pullback, will wait for a clearer picture

[underabigw]

Dharma, Thanks for keeping us posted on what your thoughts are about gold. I appreciate getting input from someone who has as much experience as you do trading it. Best, UBW

[dharma]

testing 900 resistance again. xau/hui tested the 50% retracement, close enough this am. will this time be the charm? stay tuned. this is the battleground. 900. no doubt we take this out @some point. is it today?! dharma

[dharma]

testing 900 resistance again. xau/hui tested the 50% retracement, close enough this am. will this time be the charm? stay tuned. this is the battleground. 900. no doubt we take this out @some point. is it today?! dharma

i should also note that gold is making a big bull flag! dharma