thanks tria
db pressing the lows while the other bank stocks are firm
dharma
Posted 12 April 2016 - 11:54 AM
thanks tria
db pressing the lows while the other bank stocks are firm
dharma
Posted 12 April 2016 - 12:09 PM
Martin says:
"The turning point (2015.75) was the PEAK IN GOVERNMENT. Ever since that turning point, we have begun the downhill move that is destined to collapse into January 2020 (2020.05)."
The GDX did bottom in 2015.99
Why he is not very bullish in Gold since he said in the past that lost of confidence in the Governments will skyrocket
Gold, I do not know. Perhaps he is bullish but I am not a subscriber so what do I know ? Nothing ...
Edited by tria, 12 April 2016 - 12:14 PM.
In the world of 0 and 1: "austerity" is the right thing to SAY; "spent more, print more" is the right thing to DO.
"You miss 100% of the shots you don't take."
~ Wayne Gretzky
Posted 12 April 2016 - 10:23 PM
Tria, MA is bearish on Gold because he is bullish on the dollar which he thinks will be driven up as various countries are forced to cover their dollar loans.
The fact that gold is not making new highs while the gold stocks are is not bullish in my view. The 5 hour chart looks like a bear flag that is starting to roll over in the larger H&S formation.
Posted 12 April 2016 - 11:11 PM
Russ
Below is a link to a 3 year weekly chart of the $USD. It has been falling, however, it is nearing support. I think it could begin turning back up once the RSI-9 reaches more or less the 30 reading. IMO a stronger $USD would provide a severe headwind for gold and cap the recent rally.
LINK: http://stockcharts.c...id=p92111785774
Posted 13 April 2016 - 01:11 AM
Posted 13 April 2016 - 05:19 AM
Tria, MA is bearish on Gold because he is bullish on the dollar which he thinks will be driven up as various countries are forced to cover their dollar loans.
The fact that gold is not making new highs while the gold stocks are is not bullish in my view. The 5 hour chart looks like a bear flag that is starting to roll over in the larger H&S formation.
Thank you Russ my friend, he could be right in the medium term and I had the same feeling about
Gold not following above the $1,260 level this week. Pathetic action for the numerous GLD recent
call buyers. It will be interesting to see where GLD stands near the April, May and June expirations.
Edited by tria, 13 April 2016 - 05:22 AM.
In the world of 0 and 1: "austerity" is the right thing to SAY; "spent more, print more" is the right thing to DO.
"You miss 100% of the shots you don't take."
~ Wayne Gretzky
Posted 13 April 2016 - 06:56 AM
Tria, MA is bearish on Gold because he is bullish on the dollar which he thinks will be driven up as various countries are forced to cover their dollar loans.
The fact that gold is not making new highs while the gold stocks are is not bullish in my view. The 5 hour chart looks like a bear flag that is starting to roll over in the larger H&S formation.
Thank you Russ my friend, he could be right in the medium term and I had the same feeling about
Gold not following above the $1,260 level this week. Pathetic action for the numerous GLD recent
call buyers. It will be interesting to see where GLD stands near the April, May and June expirations.
With Gold down 18 dollars this morning it doesn't look like the bull is back to me, interesting observation on the Gld call buyers Tria.
Posted 13 April 2016 - 06:57 AM
Russ
Below is a link to a 3 year weekly chart of the $USD. It has been falling, however, it is nearing support. I think it could begin turning back up once the RSI-9 reaches more or less the 30 reading. IMO a stronger $USD would provide a severe headwind for gold and cap the recent rally.
Thanks for that Johngeorge.
Posted 13 April 2016 - 10:31 AM
miners lead period. they lead up and they lead down. sure there is a painted h&s top on the gold chart. which is also a pennant or triangle pattern. i remember when marty was calling for the lows at his ecm date, then it was april. now , i have no idea i dont subscribe and frankly i dont trust him
indian jewelers ended their strike on monday.
apparently the sge is going to begin w/18 members w/2 foreign banks included.. the 18th mars changes direction. in my view w/the boj and fed meeting on the 27th not much is going to happen. like all the other pieces of colored paper the dollar is also badly flawed. sure there will be rallies. and there are times where gold has rallied w/the dollar., not something to bet on , but it does happen. w/the miners again making new highs and the metal not following. i look for consolidation/correction to occur into the ongoing pennant pattern. folks will remain bearish until the highs are crossed its the nature of the beast. yes there will be corrections and big corrections. prepare for that. dont get leveraged if you dont have the intestinal fortitude. be a buyer on weakness not a seller. gold has the chinese/russian/indians covering its back. and value investors have come in and bought the miners. folks these were/are generational lows. firms like blackrock have entered the space. expect bears . armstrong made some giant mistakes in the 90s it landed him in jail.
dharma
lots of speculation what kuroda/abe and janet have cooked up
Posted 13 April 2016 - 10:44 AM
Did Armstrong make mistakes or were some people out to get him, including the CIA who wanted his computer model?
Gold stocks bottomed after Gold last January...
Edited by Russ, 13 April 2016 - 10:48 AM.