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Monthly Digger - July 2010


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They can't even get it back down to $1180 area, so far it's not a new short term low and still could be considered consolidation. Manipulators will try to take spot down further but they need to hold it down for a couple a days when it gets below $1180 for it to mean anything.

 

As I see it, the gold bull keeps getting extended further and further out. If it was supposed to be a ten year bull it then turned to a fifteen year bull then a 20 year bull now at least a 25 year bull all starting around 2000+/-. This puts any parabolic blow off way into the future. Just years and years of steady up trend with little action below the trend and lots of action above the trend line. If this is wave 3 action then a down drafting 4 is still in the future followed by a 5th which will run to unbelievable heights unless they get the debt situation solved. After watching the latest round of action out of Congress with banking reform that doesn't do anything except make things worse, you can see government has no stomach to address cause and effect at this time but on the other hand has no problem saying they will have to raise the retirement age and use new formulas and models for pay out to save SS.

 

At $1200 spot, a miner(s) somewhere is making a nice profit on production. It will show itself on the bottom line eventually.

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As I see it, the gold bull keeps getting extended further and further out. If it was supposed to be a ten year bull it then turned to a fifteen year bull then a 20 year bull now at least a 25 year bull all starting around 2000+/-. This puts any parabolic blow off way into the future.

 

At $1200 spot, a miner(s) somewhere is making a nice profit on production. It will show itself on the bottom line eventually.

 

Nugget!

 

(except for the 2000 part) :lol:

 

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i think that we are close to the low for this leg of the decline. 1152-1168

and in the last gold bull 1k was the #being bandied about.

i would be surprised if this gold bull lasts an additional 5years. but, its a guess on my part. the pressure is building towards the parabolic. the pressure is unmistakable. the loss of confidence in govt and its ability to govern is also rising

dharma

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i would be surprised if this gold bull lasts an additional 5years. but, its a guess on my part. the pressure is building towards the parabolic. the pressure is unmistakable.

dharma

 

I don't see much of an alternative scenario.

 

The debt saturation point has been reached.

 

Deflationary pressure is off the charts.

 

One more massive Keynesian failure is on deck. (If not, we are f*cked). (Becoming gold idiots)

 

I am also thinking that this will resolve itself rather shortly.

 

Ultimate tops are almost impossible to sell.

 

I think we have enough brain-power around here to know when that day arrives.

 

It's not like we are going to live forever..

 

Greed will kill you on this trade....like any other...if you let it. :ph34r:

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Pretty tough thing, to have to sit through these attacks on miners and spot. Only a couple more weeks of this crap to go in this battle. Spot has held up well so far probably due to realization from those paying attention.

 

If you have miners keep them if you sold them buy them back if you ever wanted any buy them now.

 

US banking/funding will cycle towards a painful time. The duration and severity, I don't know. Depends on what fix is decided on most likely only a temporary one. Consumers not requesting new money leaves the banks in limbo juggling declining asset values.

 

Above $1180 and this can still be considered consolidation. It would take a couple of days below $1180 to enter a corrective phase which would drag out this low ball action.

 

Typical summertime action just accented by the manipulators.

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HUI:

 

The Triangle pattern failed.

 

So if you're a pattern trader, the next pattern is a rectangle.

 

Support at 400-420.

 

Stochastics has done the "double dip".

 

Generally, that's a signal for a bounce.

 

No thank you for me.

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Thank you Bearvest for your input

 

I am an investor not a trader

and at the moment I have not a break and not a double dip ; but my chartpattern goes back 22 months

 

And it is debatable whether I should use linear charting and whether I should use the slow stoch settings I am using . But when in doubt I make my slow stochs shorter

 

Also coincidence my support and the price and the 200 ema all three are in the exact same spot yesterdy . So today it should break or bounce

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