ignore all that crap about conspiracies and banks selling gold
or holding it down. I've read that since 2001, you can't quantify
that or use it for a buy or sell trigger. Just follow the charts,
the charts are concrete.
Posted by freddy123321 on 3rd of May 2012 at 12:16 pm
Roflmao. Those guys are hilarious! Gold went parabolic last
year. Obviously the anti gold crowd has gotten it wrong. Golf could
move down to 900 and still be in an uptrend.
freddy123321- I know what your are saying but 900 would also put gold
well below these long term uptrend lines. Your 900 price
level basically comes in at a 61.8% Fib, that's quite deep for a
bull market retracement
anyway here's the monthly chart I posted a while back, I had
noted that the MACD crossed down. AT the bottom see the 14
Stochastic, notice how it has been above 50% since 2001, except
during a brief under cut in 2008. That 50% level is coming
up, keep an eye on that
Interesting that gold stocks are following (quite closely), the
performance of Spain right now. I think the main tenet of
technical analysis is that if you look at either of these charts,
you shouldn't care if it says "GDX" or "EWP" at the top of the
chart. You shouldn't care if one of these etfs represents a
country with 25% unemployment and one of these represents "a
leveraged play on true money". Believe me, I struggle with
this too, but I'm not trying to figure out who is conspiring to
drive down gold stocks, I just know that nobody wants them now.
If you are truly objective, you would go and buy Spain right
now for the same reasons you would buy GDX. I'm not doing
either -- believe me, I'm not perfect, but I've made that mistake
before many times.
..Bullion is being manipulated down. And the largest short
positions in history on Silver cant be ignored. So when this thing
does break free it will be a thing to see. In my view FWIW.
Thanks for the post, saturn6. Hopefully
GDX - Has an A-B-C pullback on 60Min chart...
Posted by gyzhao on 3rd of May 2012 at 08:31 am
Thanks for the post, saturn6.
Hopefully it will start wave 1 up.
Gold is down $11.30, this
Posted by gyzhao on 3rd of May 2012 at 08:40 am
Gold is down $11.30, this is a bad news for minings. We shall see?!
1100
Posted by freddy123321 on 3rd of May 2012 at 09:24 am
1100 gold, here we come!!
freddy - on what basis 1100 Gold??
Posted by saturn6 on 3rd of May 2012 at 09:31 am
Triangle
Posted by freddy123321 on 3rd of May 2012 at 10:05 am
Triangle top on gld measures to around there. Hopefully over shoots to downside around 900
freddy - I Would appreciate a visual...
Posted by saturn6 on 3rd of May 2012 at 10:12 am
As I cannot determine a Diamond on any timeframe??
guys post charts when you
Posted by matt on 3rd of May 2012 at 10:07 am
guys post charts when you can, this is a technical website, use charts to make your points when you can.
With big banks attack gold,
Posted by gyzhao on 3rd of May 2012 at 10:16 am
With big banks attack gold, and gold price goes down, today GDX will be a down day!
ignore all that crap about
Posted by matt on 3rd of May 2012 at 10:33 am
ignore all that crap about conspiracies and banks selling gold or holding it down. I've read that since 2001, you can't quantify that or use it for a buy or sell trigger. Just follow the charts, the charts are concrete.
Conspiracies?
Posted by freddy123321 on 3rd of May 2012 at 12:16 pm
Roflmao. Those guys are hilarious! Gold went parabolic last year. Obviously the anti gold crowd has gotten it wrong. Golf could move down to 900 and still be in an uptrend.
freddy123321 - I know what your
Posted by matt on 3rd of May 2012 at 12:34 pm
freddy123321 - I know what your are saying but 900 would also put gold well below these long term uptrend lines. Your 900 price level basically comes in at a 61.8% Fib, that's quite deep for a bull market retracement
anyway here's the monthly chart I posted a while back, I had noted that the MACD crossed down. AT the bottom see the 14 Stochastic, notice how it has been above 50% since 2001, except during a brief under cut in 2008. That 50% level is coming up, keep an eye on that
I will listen to you,
Posted by gyzhao on 3rd of May 2012 at 10:42 am
I will listen to you, Matt
Title: Buy Spain or buy
Posted by kalinm on 3rd of May 2012 at 10:42 am
Interesting that gold stocks are following (quite closely), the performance of Spain right now. I think the main tenet of technical analysis is that if you look at either of these charts, you shouldn't care if it says "GDX" or "EWP" at the top of the chart. You shouldn't care if one of these etfs represents a country with 25% unemployment and one of these represents "a leveraged play on true money". Believe me, I struggle with this too, but I'm not trying to figure out who is conspiring to drive down gold stocks, I just know that nobody wants them now. If you are truly objective, you would go and buy Spain right now for the same reasons you would buy GDX. I'm not doing either -- believe me, I'm not perfect, but I've made that mistake before many times.
Funny you should say that...
Posted by saturn6 on 3rd of May 2012 at 10:44 am
As I have been buying distressed properties in the Canaries.
Matt - There is a compelling case that...
Posted by saturn6 on 3rd of May 2012 at 10:41 am
..Bullion is being manipulated down. And the largest short positions in history on Silver cant be ignored. So when this thing does break free it will be a thing to see. In my view FWIW.
Agreed, the CBs want to
Posted by steveo on 3rd of May 2012 at 02:15 pm
Agreed, the CBs want to force the fiat ponzi on us