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Charmin

Monthly Digger - October 2011

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Gold holding near $1630 was close enough, albeit a bit weak on the close. Now I go with Armstrong's target of Oct. 6th or 7th as a turn date. So there will be consolidation until then. Supposedly, hoping that spot breaks out to the upside and not down.

post-1024-13174616830521.jpg

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Gold holding near $1630 was close enough, albeit a bit weak on the close. Now I go with Armstrong's target of Oct. 6th or 7th as a turn date. So there will be consolidation until then. Supposedly, hoping that spot breaks out to the upside and not down.

post-1024-13174616830521.jpg

 

This should be a huge wip-saw week this coming week.

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This should be a huge wip-saw week this coming week.

 

The range channels are so great with gold (couple hundred bucks) and silver (20 bucks) that these moves almost appear to be normal and in range. Maybe some near term channels are violated but the overall picture looks steady up, for now.

 

Arnstrong interview links can be found here.

 

Armstrong did two interviews over the weekend, both interesting. He is starting to repeat himself but that is to be expected. Mostly fundamental stuff to back his charting, where most don't mix or use both for trading. He had a target nearer $1600 to hold and it did for the close of the month so up a bit from here. He still looks for a lower correction in the near future for gold as maybe the US$ gains with Euroland uncertainty or complete break down there but the correction should be of shorter duration as a parabolic take off nears.

 

Should be better for trading than holding esp. miners. Physical is always hard to let go of unless it is silver.

 

I might be seeing a left shoulder forming on spot gold which would leave room for a blow-off high in the next 60 days and completing the formation early next year. Then the neck to head distance would have to take place down, for a correction in that case. The unknown is when will panics set in or will these moves be in somewhat orderly fashion.

 

The US$ would temporarily go way up if they threw O'bummer out of office. What worthless pieces of shit these recent presidents have been.

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GOLD:

 

It's probably time to start accumulating on dips.

post-1352-13177885331074.png

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It does feel like the October 2008 bottom. But what bothers me is that too many other people seem to feel the same way. In 2008 you couldn't give the shares away. Now I sense a lot of people are eager to buy on sale here. So, either that means longs are becoming more determined and opportunistic as the bull ages or the correction is not over.

 

I also find it difficult to believe that majors who should have been smacking themselves for not picking up cheap juniors in 2008 are still not picking up cheap juniors here. This goes for the royalty companies, too, not picking up cheap royalty streams here. What are they waiting for.

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It does feel like the October 2008 bottom. But what bothers me is that too many other people seem to feel the same way. In 2008 you couldn't give the shares away. Now I sense a lot of people are eager to buy on sale here. So, either that means longs are becoming more determined and opportunistic as the bull ages or the correction is not over.

 

I also find it difficult to believe that majors who should have been smacking themselves for not picking up cheap juniors in 2008 are still not picking up cheap juniors here. This goes for the royalty companies, too, not picking up cheap royalty streams here. What are they waiting for.

 

Xmas time is the time to buy.

My two bits.

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It does feel like the October 2008 bottom. But what bothers me is that too many other people seem to feel the same way. In 2008 you couldn't give the shares away. Now I sense a lot of people are eager to buy on sale here. So, either that means longs are becoming more determined and opportunistic as the bull ages or the correction is not over.

 

I also find it difficult to believe that majors who should have been smacking themselves for not picking up cheap juniors in 2008 are still not picking up cheap juniors here. This goes for the royalty companies, too, not picking up cheap royalty streams here. What are they waiting for.

according to the seasonal charts , your notion is correct. of course there are lots of opinions w/o doing much if any research. but , the seasonal charts call for a low about this time, then powering up .anyway, the sovereign debt crises is not going away any time soon. gold has alot more to express. just riding the bull.on this bumpy ride it is still the path of least resistance

dharma

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CDE:

 

I've noticed some bullish consolidation patterns in the on balance volume of the miners.

 

CDE is one of them

post-1352-13195791200696.png

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