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Charmin

Monthly Digger - July 2011

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dharma so I am clear on this you think that we will get a very large correction off the next high which you think occurs in a month or three. You think that is the end of Wave 3 with the much larger 5 in the future? Yes?

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dharma so I am clear on this you think that we will get a very large correction off the next high which you think occurs in a month or three. You think that is the end of Wave 3 with the much larger 5 in the future? Yes?

yes, that is my take exactly. i think we get a whiff of deflation ala 08. as you know tfh wave 5 for commodities is the big one. and it will have alot of speculation. the question in my mind is how long does 4 last. 2(08) was essentially a V. imho, that mini parabolic in silver still has to be worked off , of course, it could just go sideways, but somehow there was so much froth, i suspect the lows will be tested and broken. not for the faint of heart!

dharma

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HUI:

 

I don't see anything here that would cause an investor to sell.

 

But the large part of the impulse up is nearing completion.

 

WAVE III is near complete---possibly a small rally to complete the ending diagonal of 5 of III.

 

Wave IV could re-test support at 560 over the next few weeks.

 

I still think new highs await, but....

post-1352-1311422952091.png

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1621 marks the end of this price cycle . it was hit today(last night). breaking into the next cycle opens 1754 as a possibility.

22month cycle highs due august/october. thinking august.

dharma

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I am still waiting for gold to set highs in virtually all currencies- my gut tells me as long as the euro zone and usa finances are running on fumes, POG still has a way to go. interesting the sticks have sat the run out, but remember the gold stocks all ran higher by several months of the 1980 high.

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I am still waiting for gold to set highs in virtually all currencies- my gut tells me as long as the euro zone and usa finances are running on fumes, POG still has a way to go. interesting the sticks have sat the run out, but remember the gold stocks all ran higher by several months of the 1980 high.

 

 

I wouldn't bet on it happening that way this time around.

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HUI:

 

Corrective target hit.

 

Stronger support at 542.

post-1352-13118133564028.png

post-1352-13118133656515.png

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HUI:

 

The breach of the uptrend line is consistent with a 4th wave correction.

 

Substantial support resides at or just below 540.

 

The bullish hammer is not to be believed.

 

The likeliest scenario, judging by elevated stoshastic but the MACD crossover, is a consolidation. Time, not price decline, will work off the excesses created by the 100 point rally.

post-1352-13119149571373.png

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I have the miners completely Dover Sole short term

As seen on the junior goldminer market vectors

chart

 

This and the HUI index are building a reverse head and shoulder (upsloping neckline ) with the right shoulder to come and I think the head and shoulder will fail at the neckline where I sell 20%

If it breaks out upwards I am 80% in and a retest from above is likely

 

I sell 20% anyway when this slow stoch goes to 80%

( Short term will selfdestruct after 20 market days )

 

 

gold29juli2011miners.png

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