Posted 29 December 2011 - 11:50 AM
ok so many things running around in my brain where to begin:
my work showed a low jan that could stretch out until february.
today we have daily divergences in place for gold , gld, gdx , and hui same on hourly charts
i am nibbling. i have to go w/the information that the market is providing. could it be wrong, the divergences get taken out?
you bet it could , but the odds are fairly high that the divergences hold. eg. wave 3s are the most powerful, = lowest oscillator readings then wave 5 pushes lower but on a stronger oscillator readings. so when divergences occur it conforms w/wave theory.
generally speaking its a good bet
what about the dollar , its strong?! yes it is on 06 the dollar and gold were both strong. @different times the market factors in different things. the dollar and gold could both go up
sentiment is quite low for gold . oscillators are oversold. we could have a bottom in place here and now. every analyst i read is short term bearish even the long term gold bulls . the boat is tipping heavily on one side. will the market accommodate all of these folks?
i have astro turns today, could it mark the low? i certainly dont know, my job is to respond to the information that the market gives me!
sqares of #s are powerful =39x39=1521 we approached that today.
dharma
when oil went up to 147 some firms got short oil before hitting that # w/leverage. those outfits became marks and were forced to cover their shorts creating 147 in oil
paulson helped package and sell bad debt and he himself shorted the bad debt. and helped the vampire squid sell their debt. paulson went long gold on leverage, might the banksters have thrown him overboard?????
stubaby - where do you stand on aem?