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Daily Digger - Monday Nov. 15, '04


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Have you ever had to get something done on your car or some other small project that came up unexpectedly and you couldn't find the right socket wrench. Some times that becomes a crisis. I usually get really angry and start throwing things around in a mini rampage - especially when stuff is just hanging around and in my way.

 

Do bankers ever go into an angry rampage when they got a crisis or do they always figure they got their tools handy no matter what the fix is?

 

The latest dollar trouble news is - "A crisis comes if the adjustments happen too quickly and you get a loss of confidence," Wyss said. "The world's central banks have the tools to keep that from happening."

http://biz.yahoo.com/ap/041114/dollar_troubles_5.html

 

Well AP, your only on the fifth document today for dollar woes :lol:

 

I've been asking about the dollar crisis and when news would kick in. Do you think something is terribly wrong with the current thinking when NEM doesn't appear to make much of a new high for last week on the current news? Even Fear Greed Dude comments Sunday night - "The XAU tacked on just a 1.6% gain, despite extreme dollar weakness and 16 year highs in bullion." And yet the major averages continue to climb despite a new crisis appearing on the street. Well, I guess everyone has their socket wrench in place - just hope it isn't a spark plug that's been left in the head for long awhile - those are the kind that create a crisis..... Maybe the banker mechanics never expect anything to go radically wrong and they remain calm and collected. Kind of ironic - bankers remain calm while the average Joe "should" be going on a rampage about the dollar crisis and foreign bankers "should" be uptight about currencies affecting their trade status....

 

Don't mind me, somtimes I think too much, but I do believe somebody is ready to go on a rampage like I do - they have lost their socket and they have a big repair to make....

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NEM:

 

I posted my XAU count at the end of last night's thread.

 

Nem has a slightly different count.

 

Instead of an extended third wave, it's 4th was put in place early. However, after that it traced wahat appears to be an ending diagonal (rising wedge) as shown in the blue count.

 

An alternate black count shows that this 5th wave could easily count as an abc near completion.

post-1352-1100489480.png

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How to create a synthetic silver position:

 

Before The Bell

Great stuff on CEF! Thanks Hiding Bear!

 

Just one thing. I wouldn't short gold just to have a pure silver play in CEF.

 

If silver is going up then gold will too. They pretty much trade hand in hand.

 

You would tie up too much capital just to play silver. Just my opinion though.

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Hey super, Doc has changed the interior. Let's see how fast we can mess up this one. :P

 

Yesterday, when I tried to log on, but couldn't, I thought I was banned. But no guys, no such luck for ya.

 

Think we get a rather dramatic rally this week. I see white horses at a few hours distance.

 

Maxximus, the Gladiator from the land of the Vikings.

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Your Golden Stool, including short and long term updated charts and price targets, is loaded. Even if you are not a goldbug, you should check out the Golden Stool. It's in your Anals daily. Take a subscribatory and download the Golden Stool RIGHT NOW!

 

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NEM near the $50 level and creek. POG hits the daily OP of 439.6 area. HUI is at a lower creek area of 242. NDX nears the creek in the 1560 area. The creeks will either see absorption or a thrust above the creek to test the demand. I suppose that since everyone is bullish we will see an upthrust at least or else.... a major crisis appears.

 

Dinapoli SPX still climbing beyond the 1124 repo failure. How far can an intermediate rally go in a bear market - 20%?

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testing the new board ....

 

Crude could fall just a bit more with our ratio chart rising up to the 200dma. After that I'd expect either gold to either break the downtrend and power move higher (above 440) or crude to once again become the favored liquid asset sending the ratio once again back into a downtrend for POG against crude.

post-326-1100528555_thumb.gif

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Did everyone vacate PM today?

 

Long term look at the SPX has it thrusting above the 2002 highs in the 1176 area up to 1184. Bullishness prevails.... no supply but for an upthrust demand must remain and creek possibly gets retested...

 

the trading range gets overshot on the downside from the 1080 area to 1060 and now is this the overshot from the 1160 to the 1180 area? Does 20 points make a difference?

 

technically some like the idea that we go much higher... unless someone looses their socket and goes on a rampage......

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