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Charmin

Monthly Digger - September 2011

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nice call whadda

i dont think the 22 month cycle has topped yet.

silver appears to have made a cup and handle since april.

10 out of 10 sept. , since the bull was born have been up. damn i like those odds

bought kgc yesterday. looked @monthly charts and this one looks like it has formed an impressive chart pattern for an upmove

dharma

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Looks like easy pickens, at least starting with the dividend payers and next any well run company with a decent amount of reserves. Still have old highs to reach yet.

 

RGLD is interesting as dividend players don't normally run up like it's doing but that one option I am holding at strike $70 is better than a poke in the eye with a sharp stick.

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On Friday, September 02, 2011 at 8:47:18 PM there were 410 companies appearing on the CANSLIM.net Leaders List, and 6 of these high-ranked companies reached new 52 week highs.

 

Five of the six are:

AUY Yamana Gold Inc $16.83 $0.75 4.66%

EGO Eldorado Gold Corp $20.85 $0.49 2.41%

MFN Minefinders Corp Ltd $17.46 $0.63 3.74%

RGLD Royal Gold Inc $78.97 $2.33 3.04%

RIC Richmont Mines Inc $11.22 $0.12 1.08%

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HUI:

 

Pattern and trend channel.

 

The only cautionary note is if HUI overlaps 587.38

post-1352-13151105792301.png

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I go with the inverted HS and breakout and backretest

85% in

Waiting for the retest

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top callers for gold are out. bottom callers for the dollar too.

its too early for me to come to these conclusions. i am an investor in the gold sector, not a trader. and the dollar is in a bear market. i want to divest myself of dollars. sure there will be dollar rallies, all will end in lower lows. not look to hold more dollars. this will not have a happy ending for dollar holders. dont think so, well look @that mountain of debt. now what? no fiat has ever survived! none!

i am watching 1813 as the death zone for this price cycle. hold that and its just another pullback in the parabolic.of course the correction could be larger. eventually i am looking for 1400-1500. we are volatile here, difficult to impossible to assess these swings. this could have been a B here. it could have also been the end of an impulse(i am reticent to put myself in a box w/a particular count). its for guys who are more skilled than i am @elliott. its not a tool i use w/conviction. (after all elliott died broke in queens. and prechter has been wrong on evrything for decades). lets watch it in here and see if anything gets revealed.

the miners are of interest to me in this correction. will they do a 2008 or will they hold relatively well?!

 

dharma

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Spots need to stay above $1720 and $40 to keep the short term trend intact.

 

As long as Euroland keeps self destructing then the US$ continues its climb.

 

Watch tomorrow's O'bummer speech, more free money for the downtrodden and more taxation for the middle class, the stock market will take off. Banks not having much luck lately with those 20% returns on investments, will just have to cope with it.

 

Without the pump of money, you see the real economy in action, there is no action, flat line.

 

When gold clears $1900 and above that will set the stage for the months ahead.

 

Bargain hunters scooping up any dips in the miners. Gold has just been steady buying.

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now let me get this straight, the strongest currency in the western world announced yesterday that they are going to peg to the badly flawed euro. the swiss will either have to buy euros or sell their currency. and will have to print to do so. and gold falls 60 to do so. something is wrong w/this picture.

ok

o wants to pull 300billion out of a hat to create jobs.

the fed meets on the 21st? what do you think they are going to do?

i bought yesterday and this am.

gdx and gdxj are both making inverse h&s patterns. yesterday was the backtest to the neckline. miners are vastly undervalued compared to the metal.

silver since april appears to have made a cup and handle

buckle up1

dharma

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Armstrong writes about the Swiss, everybody buying in as a safe haven play makes the its currency stronger and things (internally) more expensive so a currency war develops as some type of flawed protectionism.

 

Normal gyrations in a bull market, trend line keeps rising, no where near a panic. There will be a blow off with a healthy correction but not yet. Fundamentally there is no talk of a fix just more spending into debt. Need rumors of a half ass fix in the works before gold corrects.

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Watching RGLD as an indicator, it is taking a rest as it has been on a nice run. Must be something about not doing actual mining but taking royalties payment in physical gold and silver along with other minerals. If they announce an increase in their dividend, that should give them better performance than the US ten year note.

 

Wide ranges to test your resolve before the climb continues. Gold $1720 area and Silver $40 area breakdowns would be major warnings. Doubt we will see it at this time.

 

post-1024-13158070040313.jpg

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