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Charmin

Quarterly Digger - Til the Fireworks

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BUT;

 

The miners still have to prove themselves.

 

The violation of 480 by HUI still has me deeply concerned.

post-1352-0-54177200-1346468588_thumb.png

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We are prob close to the monthly slow stoch high and the retest of your breakout

Then off to the races I hope

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GOLD:

 

Looks bullish.

 

With that I believe it's time to start a new thread that might last until the end of the year. It might even be possible that we retest gold's high's by the end of the year.

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Today’s Closings – Gold – Silver – Euro – Dow

In June Gold, a closing below 1439 will keep gold in a vulnerable position where support next week will be at the 1385-1400 level with still resistance at 1476 even becoming firmer.

 

In silver, the support lies at 2250. A daily closing beneath that will signal new lows ahead. The day of the high for the break is 26.045 and silver has been unable to rally to that area reaching 24.835 on April 26. A closing below 23.60 will also shift silver into a vulnerable position.

 

In the Euro cash, a closing today below 129.65 will warn that this currency is starting to weaken once again. Next week, the 130.00 level will be important. If we closing below 129.65, then expect this 130.00 level to become the first level of resistance with main resistance standing at 130.90.

 

The Dow Jones Industrial Index is still positive. On a weekly basis, support lies at the 14825 level on the cash level for next week. We nee[d] a daily close below 14955 just to shift this index into a neutral position. Only a breach of the 14800 level would imply a sustainable correction short-term.

 

--------------------------

 

Armstrong keeps hinting at a target of $1153.30 for spot gold to finish this correction. If so, I hope it happens fast to get it over with. Sold most of my mining stocks. Patience will be measured in years in this sector.

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Today’s Closings – Gold – Silver – Euro – Dow

In June Gold, a closing below 1439 will keep gold in a vulnerable position where support next week will be at the 1385-1400 level with still resistance at 1476 even becoming firmer.

 

In silver, the support lies at 2250. A daily closing beneath that will signal new lows ahead. The day of the high for the break is 26.045 and silver has been unable to rally to that area reaching 24.835 on April 26. A closing below 23.60 will also shift silver into a vulnerable position.

 

In the Euro cash, a closing today below 129.65 will warn that this currency is starting to weaken once again. Next week, the 130.00 level will be important. If we closing below 129.65, then expect this 130.00 level to become the first level of resistance with main resistance standing at 130.90.

 

The Dow Jones Industrial Index is still positive. On a weekly basis, support lies at the 14825 level on the cash level for next week. We nee[d] a daily close below 14955 just to shift this index into a neutral position. Only a breach of the 14800 level would imply a sustainable correction short-term.

 

--------------------------

 

Armstrong keeps hinting at a target of $1153.30 for spot gold to finish this correction. If so, I hope it happens fast to get it over with. Sold most of my mining stocks. Patience will be measured in years in this sector.

 

 

Armstrong says if May not bottom then September .

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Armstrong's computer program(s) are really dynamic to a point. There are target dates that don't change much if at all then price/-turn date time frames if hit project higher or lower or sideways action.

 

What he is really saying is that we are all fuked in the end no matter what happens but try to save yourself from it. For the next couple of years join the SOW action for now shun miners. SOW might run to 20,000. Dollar might  hit 100. Spot bottoms in 2015 sometime to begin a slow crawl  to new high in 2017 if lucky or more like 2020. Somewhere around  $1,000 gold will be a bottom.

 

Short term spot/miners make a tradeable move up again in Aug. - Sept. probably due to German elections reaction. Good time to get out?

 

Fundamentally, the US will be a oil rich nation again while the rest of the world wallows in being worse off than the US is i.e. Japan, China, Euroland, the Middle East. India is a wild card but without worldwide consumers buying stuff due to economic turmoil not much chance there either.

 

If there ever was a reason to get rid of the IRS, they have it now but they need to put their big boy pants on.

 

If you are confused so is Armstrong's computer program as this bull run does not correlate well at the starting point...

 

Link

 

Gold & Timing 5.19.2013

Bull markets I have stated many times are 7, 11, 13 or 21.

 

Gold has three very interesting bottoms. The 1999 is the intraday low. 2000 is the lowest yearly closing. Then 2001 produces the lowest quarter closing. This is an interesting set up that is rare to say the least. So effectively, both the 11 and 13 cycles come into play since the low was not a single event. So we got the 13 year since 2012 was the highest closing but we got the intraday in 2011 as 11 up from the lowest closing. Had both the intraday and the close been unified in 1999, then the ideal would have been 2010 with a max of 2012...

 

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Rainy River (keeps finding some nice deposits) is going to be bought out by New Gold. My broker won't let me buy miners anymore considered pinksheet values (in their opinion) due to non US filing standards, in this case RR using Canadian standards but I had been buying and holding a little previous to that brokerage change. Been lots of mergers in mining pennies stocks lately sometimes hints of a bottom.

 

Elsewhere, the entire world is mad at the US for its GMO foodstuffs and seeds, cancelled orders of wheat alone is ruining the futures market. Some hints that the GMO is responsible for killing the bee populations...Russia Warns Obama: Monsanto

Governments can make people slaves, drive them from their lands. take all their money and  properties but when it comes to food, that is a different story.

 

Graphene is some interesting stuff to make things in life cheaper like solar cells and more efficient cameras, CPUs to name a few.

 

Armstrong has this to say.

 

 

The August 7th turning point is starting to be picked up on our weekly models in many markets. The bounce so far out of the week of 5/20 is flat so far. This tends to warn what will not bounce reverses hard. So we may still be looking at new lows in the metals for June and new highs in the Dow as European politicians still are doing everything possible but look in the mirror. These people are destroying Western Civilization with their old ideas that no longer apply.

 

 

 

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Deflation is a bitch. No rule-of-law is a bitch.

 

Hope for a spike bottom even if it has to form on a monthly or yearly basis so to get the pain over with quickly. $200 or $300 further crash is not out of the question as $1,000 spot is not that far away. Base building or bottom bouncing would be almost unbearable at lower levels and would take months or maybe years.

 

Armstrong seems invisible as he is rarely mentioned esp. anywhere in the mainstream media.

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http://qz.com/85163/irrationality-not-weak-supply-caused-the-gold-bubble-that-youre-now-watching-burst/

 

 

 

There is no doubt that in recent years the gold market has been a bubble, and it now seems to be bursting. I equally thought so in September 2011, when I recommended avoiding investments in gold; then gold was priced at $1,780, a time when investment gurus Marc Faber and Jim Rogers were strongly in favor of gold. And I reiterated that advice in 2012 when gold was at $1,622.

Here’s why.

The foundations of gold supply

Historically, there’s been no problem supplying the market at a wide range of price levels; in fact, gold production has an exponential correlation to price over time (R^2=0.9). The correction you see in the blue circle of the chart came after producers contracted production as some central banks decided to sell gold. In addition, according to the World Gold Council (WGC) close to 35% of the supply comes from recycling, demonstrating that there is little in the way of production constraints.

 

 

 

 

a1-world-gold-production-in-metric-tones

 

 

a3-world-gold-reserves-in-metric-tones-l

 

A champagne cup and the risky pennant

A champagne cup, similar to a cup a with handle pattern, is a formation that precedes a bull market and has a paradigmatic example in the yield of corporate bonds between 1930 and 1970, and in gold between 1980 and 2006. After that technical formation, the gold market has developed a dangerous flag figure; this formation usually breaks up if foundations are solid, but they aren’t and this time it became a bull trap. 

 

b1-chanpang-cup-and-flag-formation-for-g

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