traderfromhell Posted August 24, 2004 Report Share Posted August 24, 2004 A bearish candle indeed. Having sold some on friday, it didn't make sense for me to sell yesterday. I assumed 212 (225dma) as resistance (read sell zone) and 202/203 as support zone. Yesterday we got to 203, while the steep channel is still intact. However a close below 202/203 would be bearish, IMO. Just depends on your time frame. 203 is just the old top and not a very significant one at that. If we are to turn now 203 has to hold but with options expiry I think we may have more down. I wouldn't chase any strength from here. Gold or Silver or the miners. I think 188-190 is critical in the HUI. But wtfdik. Link to comment Share on other sites More sharing options...
Ageka Posted August 24, 2004 Report Share Posted August 24, 2004 Ageka: Regarding who prepares the coffee, I guess we'll sort that one out next time. Although, I could use some now. BTW, could you post that intraday dollar and euro chart of yours. Thanks. Happy to be of service ( note the time at the bottom of the chart is UK time , one hour earlier then europe) Link to comment Share on other sites More sharing options...
traderfromhell Posted August 24, 2004 Report Share Posted August 24, 2004 I am going to make a concerted effort not to read anyone's comments on any markets. One thing I have had drummed into me this year is nobody really knows jack. Make my own mistakes thanks. I agree. That's the only way to learn something lasting. I have read a great many different advisors and texts over the years. If I didn't pick up anything shame on me. Reading anyone now who is using say Gann or Wyckoff is just their take on what I've read. This is not to say I know anything. I try to take a look from a fundy point of view first and then look at the techicals for shorter time frames. To me in the long run the metals have to go higher and paper assets lower. It just may require the patience of Job. Link to comment Share on other sites More sharing options...
traderfromhell Posted August 24, 2004 Report Share Posted August 24, 2004 I am going to make a concerted effort not to read anyone's comments on any markets. One thing I have had drummed into me this year is nobody really knows jack. Make my own mistakes thanks. I agree. That's the only way to learn something lasting. Oh Mirth! Oh merriment! Then why on earth come here, tfh? Just to post and ignore all the other posts? Personally, I do the exact opposite but then that is my nature. Present company exclude of course. My point is from what I have seen the posters on this board are at least as knowledgable as the well read advisors. So you see I do pay attention. I don't trade off you but I don't fade you. Link to comment Share on other sites More sharing options...
Moon Man Posted August 24, 2004 Report Share Posted August 24, 2004 A bearish candle indeed. Having sold some on friday, it didn't make sense for me to sell yesterday. I assumed 212 (225dma) as resistance (read sell zone) and 202/203 as support zone. Yesterday we got to 203, while the steep channel is still intact. However a close below 202/203 would be bearish, IMO. Just depends on your time frame. 203 is just the old top and not a very significant one at that. If we are to turn now 203 has to hold but with options expiry I think we may have more down. I wouldn't chase any strength from here. Gold or Silver or the miners. I think 188-190 is critical in the HUI. But wtfdik. Absolutely true. I should have said "according the timeframes I trade". That's also the reaosn why it's hard to judge whether someone is wrong or not. Is someone who waits for the HUI to correct to 170 wrong, when we first go 230, and afterwards to 170? It indeed all depends what your gameplan is. Link to comment Share on other sites More sharing options...
Ageka Posted August 24, 2004 Report Share Posted August 24, 2004 Set against the backdrop of a gently rising support line the POG(Yiros) has periodically spiked up to the 3.40-3.50 area before usually falling right back down to support. The peaks in gold euros were roughly ( did not check exact day ) 07 feb 2000 25 oct 2000 21 may 2001 11 feb 2002 4 feb 2003 2 sep 2003 30 mar 2004 The only tentative conclusion is that we may have a peak in sep -oct or possibly have to wait till feb next year Like I posted on saterday I bet on the first three weeks of octobre Link to comment Share on other sites More sharing options...
traderfromhell Posted August 24, 2004 Report Share Posted August 24, 2004 A bearish candle indeed. Having sold some on friday, it didn't make sense for me to sell yesterday. I assumed 212 (225dma) as resistance (read sell zone) and 202/203 as support zone. Yesterday we got to 203, while the steep channel is still intact. However a close below 202/203 would be bearish, IMO. Just depends on your time frame. 203 is just the old top and not a very significant one at that. If we are to turn now 203 has to hold but with options expiry I think we may have more down. I wouldn't chase any strength from here. Gold or Silver or the miners. I think 188-190 is critical in the HUI. But wtfdik. Absolutely true. I should have said "according the timeframes I trade". That's also the reaosn why it's hard to judge whether someone is wrong or not. Is someone who waits for the HUI to correct to 170 wrong, when we first go 230, and afterwards to 170? It indeed all depends what your gameplan is. I don't think Friday's highs fall before we take out 203 HUI. Hope I'm wrong. I'm always long something. Heavily. Link to comment Share on other sites More sharing options...
ThorAss Posted August 24, 2004 Author Report Share Posted August 24, 2004 ThorFor some or other reason the price of gold London pm looks different then the synthetic charts that devide the dollar price by the dollar exchange rate But your remark is correct we are in a Long Term uptrend I don't know, I see very little difference between your chart and the one in DrAu's Lisp other than scale and timeframe. Yes, the POG(Yiros) has been and is in an uptrend but the has been is while is may soon to be is no longer. CONfused yet? Anyway... On my last day of my free trial at LitWick there is a veritable sea or bearish red candles. Both main PMS indices plus half of the miners I have in my table. HL GSS GRS PAAS NXG CDE CBJ GLG The pullback that "had" to happen. Link to comment Share on other sites More sharing options...
ThorAss Posted August 24, 2004 Author Report Share Posted August 24, 2004 I am going to make a concerted effort not to read anyone's comments on any markets. One thing I have had drummed into me this year is nobody really knows jack. Make my own mistakes thanks. I agree. That's the only way to learn something lasting. Oh Mirth! Oh merriment! Then why on earth come here, tfh? Just to post and ignore all the other posts? Personally, I do the exact opposite but then that is my nature. Present company exclude of course. My point is from what I have seen the posters on this board are at least as knowledgable as the well read advisors. So you see I do pay attention. I don't trade off you but I don't fade you. Oh, now I see your problem, not fading me! Link to comment Share on other sites More sharing options...
traderfromhell Posted August 24, 2004 Report Share Posted August 24, 2004 ThorFor some or other reason the price of gold London pm looks different then the synthetic charts that devide the dollar price by the dollar exchange rate But your remark is correct we are in a Long Term uptrend I don't know, I see very little difference between your chart and the one in DrAu's Lisp other than scale and timeframe. Yes, the POG(Yiros) has been and is in an uptrend but the has been is while is may soon to be is no longer. CONfused yet? Anyway... On my last day of my free trial at LitWick there is a veritable sea or bearish red candles. Both main PMS indices plus half of the miners I have in my table. HL GSS GRS PAAS NXG CDE CBJ GLG The pullback that "had" to happen. Had to happen. That's right. 50% of the range in the HUI was is and will be until expanded 210. Sell there. Worst case you miss a move to the .618. Had to sell last week. Buy this break upcoming. During this metals bull even the smallest retracements have lasted 7-10 days. There is no rush to buy back in. Put in a lowball market order in your fav. If it gets hit great. Otherwise wait and check out the behinds on those gymnasts. UFB. Mama. Link to comment Share on other sites More sharing options...
Ageka Posted August 24, 2004 Report Share Posted August 24, 2004 What I mean is that in my goldchart the top line is not horizontal but sloping down making it a kind of symmetrical triangle Link to comment Share on other sites More sharing options...
Ageka Posted August 24, 2004 Report Share Posted August 24, 2004 Thorass to balance your bank cartoon Link to comment Share on other sites More sharing options...
Charmin Posted August 24, 2004 Report Share Posted August 24, 2004 We're too bullish? sentiment advisor #2 Hulbert Bob Carver - sentiment advisor #3 http://marketclues.blogspot.com/ at 50% retrace warning Link to comment Share on other sites More sharing options...
Charmin Posted August 24, 2004 Report Share Posted August 24, 2004 Schippi - #4 sentiment reading Select Gold may have hit it's peak value for this short term cycle. http://www.SelectSectors.com/gldhurst.gif Link to comment Share on other sites More sharing options...
ThorAss Posted August 24, 2004 Author Report Share Posted August 24, 2004 We're too bullish? sentiment advisor #2 Hulbert Bob Carver - sentiment advisor #3 http://marketclues.blogspot.com/ at 50% retrace warning Hey Charmin, I posted lynx to both of these already. Not had your morning coffee yet? Link to comment Share on other sites More sharing options...
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