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Charmin

Quarterly Digger - Til April Fools

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You might of thought there wasn't much noteworthy going on in the gold market since January, but I'm pretty sure we could of guessed there would be a rebound. I wasn't able to spend much time in the last few months tracking some of the performance, but I did think it was nice to see that AUY's rebound took it back up to near highs and that MFN has a strong rebound off of prior lows.

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HUI:

 

Candlestick pattern shows promise as there's a clear reversal pattern.

 

Both ADX and Stochastic are at extremes.

 

Former support at 480 is now resistance. Any rally above 480 will likely trigger a bullish "double dip" pattern in Stochastic, and reverse the ADX -DI. +DI has already reversed.

 

The spread between the red and blue Itchy lines is at extremes, and the red line has flattened. A flat red creates a gravitational pull and the distance between the 2 lines suggests disequilibrium.

 

Watch for a rally.

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HUI:

 

When to buy?

 

When the fast weekly Stochastic falls below 20 using a 5,3,3 setting.

 

When to sell. Probably never, but sell covered calls against your long position when weekly Stochastic exceeds 80.

 

Of course, I'm a mere lawyer----so I'm hardly competent to give investment advice---as many posters pointed out over the years.

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HUI:

 

Bookmarks:

 

Below 461.72. still in a small wave v down. Buy the dip.

 

Above 494.95. wave c completed (as 4 cannot overlap 1). Buy the rally.

 

Watch the gaps.

 

 

 

 

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There can’t be two reserve currencies on one planet

 

Can it be that once consolidation is over, Gold will make the final top and US dollar will win??

 

 

 

 

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There can’t be two reserve currencies on one planet

 

Can it be that once consolidation is over, Gold will make the final top and US dollar will win??

 

Are you aware of the history of the world in this regards?

In other words you have faith in government?

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Flat is here to stay. Gold normally takes time to consolidate once it’s over then final leg up should begin sometime this year

 

 

 

Once dollars get footing I will exit all my gold position

 

 

 

 

My link

 

 

:unsure:

 

USHomePricesAU01.php

 

 

 

 

USHomePricesAG01.php

 

 

 

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Gold hasn't really done much since it hasn't taken out old highs when measured by old inflation standards and miners confirm this by not even being close to new highs. The damage done in real estate pricing will take years and lots of bottom bouncing to work off.

 

Armstrong seems to hint at more of a gold correction here maybe for a year or two but doesn't come and outright say that as others point to 2015 or so before a panic in gold price takes place. Short term, the end of month close looks like it will miss a target price of about $1680 which portends more corrective action as a correction can travel sideways (for years) and not necessary have to crash.

 

Physical has been better at covering your ass as paper money takes a hit but is having a hard time covering the expense of oil and its byproducts. Maybe a paper currency comes out on top but which one?

 

All in all, better off trading than holding as even 0% rates can't get consumers to spend, which I don't blame them. Even if the economy did pickup, the massive debts due will wipe out any enthusiasm. Inflation, deflation, inflation, deflation a lose lose situation all around.

 

In the meantime, we can listen to Sinclair explain why gold can't clear $1700.

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McEwen blasts gold miners on dividends, investment appeal click here

 

 

Major gold mining companies, whose shares have dropped even as the gold price rose, should be paying out more in yields and dividends to attract shareholders and broaden the appeal of gold investment, a key industry figure charged on Thursday.

 

"You look at the seniors (major companies) who have had just a terrible performance. They're not giving any leadership to the industry," Rob McEwen, chief executive of McEwen Mining Inc told the Reuters Global Mining and Metals Summit in New York.

 

"They're actually a deterrent (to investment)," he said of big gold companies, known as seniors.

 

He noted that since 2006, the gold price has risen 133 percent while shares in Goldcorp, the company he founded two decades ago, are still trading at around the same price. On Thursday, Goldcorp closed down 15 cents at C$44.31 in Toronto. During 2006, it hit a high of $45.99, according to Thomson Reuters data.

 

"Goldcorp's production has increased 80 percent," said McEwen, who is no longer connected with the company. "It used to be that when your production went up, your share price went up. Their share price is flat."

 

He cited similar data for other major U.S. and Canadian gold companies. There was no immediate comment from Goldcorp on McEwen's comments.

 

"Over the last six years, it's been a horrible place to have your money," he said of gold company equities, which have come under recent competition from exchange-trade funds (ETFs) which allow investors to buy physical gold.

 

"They don't have money in their companies, so when they wake up they are not thinking about how to increase the share price. It's more about 'how do I increase my salary or my bonus?'"

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I agree with Rob McEwen. My wife read a book about the 70's gold bull and it stated that the general public was not interested in gold shares until the dividends became attractive, of course things are a little different now with all the other options to chose from. Maybe this time offering dividends in gold like one company is would bring in more interest.

 

I read an article that Rob McEwen had projected that this bull market will top out at 5000 gold. That will be equivalent to the 70's bull market. Google Rob McEwen 5000 gold for the article. Also if you Google the privateer gold chart then go to the long-term $US 5 x 3 Gold Chart you will notice that we are forming a huge head and shoulders bottom pattern. As of today I have a projection of $4363 and the projection will be a lot higher as we add more x's and boxes when we get to the final breakout at the $1923 top. The count of the $1000 head and shoulders bottom (02-09) got us to the $1923 mark. It looks like this head and shoulders will get us into Rob McEwen's top projection. Who knows if this is the final top we have other noted technicians calling for $10,000 gold. I guess when the time comes and it breaks that trend line maybe that will be it.

 

I am new to posting please be patient. Don't have a clue how to put a chart on yet.

 

 

 

McEwen blasts gold miners on dividends, investment appeal click here

 

 

Major gold mining companies, whose shares have dropped even as the gold price rose, should be paying out more in yields and dividends to attract shareholders and broaden the appeal of gold investment, a key industry figure charged on Thursday.

 

"You look at the seniors (major companies) who have had just a terrible performance. They're not giving any leadership to the industry," Rob McEwen, chief executive of McEwen Mining Inc told the Reuters Global Mining and Metals Summit in New York.

 

"They're actually a deterrent (to investment)," he said of big gold companies, known as seniors.

 

He noted that since 2006, the gold price has risen 133 percent while shares in Goldcorp, the company he founded two decades ago, are still trading at around the same price. On Thursday, Goldcorp closed down 15 cents at C$44.31 in Toronto. During 2006, it hit a high of $45.99, according to Thomson Reuters data.

 

"Goldcorp's production has increased 80 percent," said McEwen, who is no longer connected with the company. "It used to be that when your production went up, your share price went up. Their share price is flat."

 

He cited similar data for other major U.S. and Canadian gold companies. There was no immediate comment from Goldcorp on McEwen's comments.

 

"Over the last six years, it's been a horrible place to have your money," he said of gold company equities, which have come under recent competition from exchange-trade funds (ETFs) which allow investors to buy physical gold.

 

"They don't have money in their companies, so when they wake up they are not thinking about how to increase the share price. It's more about 'how do I increase my salary or my bonus?'"

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