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Charmin

Quarterly Digger - Til the Fireworks

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I was dinking around trying to get the bottom projection on gold from it's high of $1,923.70

Using the point and figure chart, daily, percentage, high/low, 2box reversal, box size 1.99885 I was able to get the price objective spot on going back to the 23 of September, 2011 double bottom breakdown.

 

Now using the same chart it has now become bullish giving it's first price objective of $2,077.24 on the 23 of February 2012 with a double top breakout. Hope this was the start of the next move up. :rolleyes:

 

Can anyone on the board tell me how to download the point and figure charts from Stock Charts.com? Right now we print it out and take a digital picture of it. Thanks.

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You right click on the chart and use the menu to save or copy the address for linking.

 

Thanks "Whadda" this will sure make life a lot easier.

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Here's how it looks to me.

Hi Bearvest, Carnac here. Please see my post #46 with this two box 1.99885% I came up with for gold. I thought it would be an interesting experiment to try it on the HUI it's price objective is $483.54 it fits right at the top of your blue zone box and goes into the swing high of April 2 at $484.93 for fun let's see how accurate it works out to be. :rolleyes:

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It appears we are two weeks into the bounce for some gold stocks - others not so much. AUY is bouncing nicely. It's probably that time to see what symbols have changed in the last year. I see they changed UXG to MUX. I am way behind the 8 ball.

 

AUY

http://www.StockShar..._1338686295.png

 

Too bad it left a gap like the HUI. But better up than down.

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Armstrong May 29, 2012

 

Nice to review because I think fundamentals never get old.

 

Also this Armstrong notated chart still holds true as the channel breakout awaits and a lower uptending line is there for confirmation when it finally becomes support since one day wonder spikes ring hollow without carry through.

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Armstrong May 29, 2012

 

Nice to review because I think fundamentals never get old.

 

Also this Armstrong notated chart still holds true as the channel breakout awaits and a lower uptending line is there for confirmation when it finally becomes support since one day wonder spikes ring hollow without carry through.

Hi Whadda:

If this point and figure chart is correct we should break up through the down trend channel at 1630 plus or minus as it goes up to the $1,792.70 swing of late February also I cut the middle out of the point and figure chart to eliminate a third page. :D

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As the trend lines on Armstrong's chart are traveling in opposite directions, it will be easier to breakup through $1630 or so but harder to break the confirmation around $1640 $1660 (is what I meant since Armstrong's chart is a bit old and everything is dynamic).

 

Stronger miners led this small rally and money has started distributing to the explorers today.

 

Still looks like sideways motions within a large range, to me.

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As the trend lines on Armstrong's chart are traveling in opposite directions, it will be easier to breakup through $1630 or so but harder to break the confirmation around $1640.

 

Stronger miners led this small rally and money has started distrubing to the explorers today.

 

Still looks like sideways motions within a large range, to me.

I don't have any idea how it will play out but it looks to me like we are ready for a big move according to the Bollinger Bands. They look very similar to the 2006 double bottom. Hope it's up. :rolleyes:

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The problem with indicators is that they always lag. Trend lines and cycles show the long term but lack the short trend clues. And once you invest in any stock then the 'markets are always right' or markets can remain irrational longer than you can remain solvent.

 

Most everyone has gone on vacation now so money flows with be light and manipulatio heavy. The HUI has a couple months to fill its gap. Even a $300 move in spot gold from today misses the all time high but if you can wait long enough $2000 will fall, just ask Sinclair.

 

Waiting for the Supreme Court decision...

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The problem with indicators is that they always lag. Trend lines and cycles show the long term but lack the short trend clues. And once you invest in any stock then the 'markets are always right' or markets can remain irrational longer than you can remain solvent.

 

Most everyone has gone on vacation now so money flows with be light and manipulatio heavy. The HUI has a couple months to fill its gap. Even a $300 move in spot gold from today misses the all time high but if you can wait long enough $2000 will fall, just ask Sinclair.

 

Waiting for the Supreme Court decision...

Wait long enough....by the time we finally go parabolic I plan to get a gold plated walker for the rest home I'll be in! :angry:

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Even Norrcini is penciling in lower targets for spot gold, like the mid 1300's. He is using a wide Fibs spread to come up with that number. Armstrong's computer was spitting out a possible low in the 1100s.

 

If any of those projections are possible on a retrace then I don't think it's going to spike that low but gradually and steadly fall, like it has been doing. With that, you might have a chance to get out of positions during any good rallies some time coming between Aug. - Nov. only if you think '13, '14, '15, going to be bad years for mining stocks. Myself, I don't see how it could get much worse but even going sideways from today's pricing for 2 or 3 years would be tragic enough (another back up the truck moment, huh?).

 

Maybe finding miners paying dividends or regular stocks paying dividends to park in and wait it out is a play but holding dollars long term will be eroded as pricing comes with more and more inflation figured in and assets keep deflating

 

Euroland central banks can't afford to have members exit or they have to writedown the losses almost immediately. Further pumping to keep members strungout and they can carry the loans on the books for decades as payment due. I think Greece and Spain have figured that out and are the difference between all of Euroland failing or continuing.

 

Aside: Germany just recently, for one day, produced 50% of their power needs from solar panels. Power generating companies everywhere must hate that fact.

Whadda I decided to revisit my post #56 on the Bollinger Bands using P&F chart daily traditional close 3 box with Bollinger Bands I went back to the start of the bull and discovered that the center line of the Bollinger Band never turned down until after the top at $1,033.90 and produced a 34.13% correction. Notice the apex down to the trendline gave the projection on a closing basis of $705.00 actual low $681.00.

 

For the second time the center line apex has turned down again and if the apex goes down to the trendline like it did before the target close would be $1,220.00. You noted that Norrcini is looking at mid $1,300 and Armstrong's possible low is at $1,100's. Just thought these charts looked interesting. Maybe this is only a dead cat bounce here.

 

Also Armstrong noted on your post #53 on page 4 of 8 attachment that gold will rise dramatically just as it did from the 1976 low at $100 into 1980 reaching $875 such an advance today from this possible P&F projection low at $1,200 plus or minus would equal $10,500 plus or minus.

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King World News

 

The good news, it was gold. The bad news, it was paper gold (and silver).

 

HUI looking a bit top heavy and should roll down.

 

It's in the best interest for the big boys i.e. Russia, China, EU central banks, Germany, US Federal Reserve, etc., to save Euroland. At least temporarily. I don't how they expect to get citizens there to start spending by jump starting members' economies because so far throwing money at them ends up paying back debt loans given by big lenders but try they will.

 

Any Euro saving patchwork that is approved thus put in place combined with a Republican presidential win will calm the nerves of markets for a couple years as hope springs eternal...again.

 

So you may have to hang on for a big move up in gold and miners but with a few nice rallies while waiting as the US economy bottom bounces with debt accumulation. Any Fed funds interest rate rising to 2%+ and it's going to be all she wrote.

 

If spot gold wants to retrace more into the $1400s and lower, I think it would happen after the US elections. For now, I think sideways then towards late summer, up.

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