DrStool Posted November 24, 2004 Report Share Posted November 24, 2004 Good Morning! Buck plunged to a new low overnight, as yesterday's late upturn in the 24 hour cycle turned into a swup, then rolled over at about 2:00 AM NY time. 24 hr cycle indicators are still headed down, but the cmap of 82.45 has been hit. The 3 day cycle cmap dropped from the 82.55 posted yesterday to an apparent 82.20 this morning. I will keep you updated on the longer term targets in the Uncle Buck Report in the Anals. Click the link at the bottom of this post to get in right now. I'll post an update on the bonds as soon as that market opens. Divergent Paths HUI and Gold Part Ways Will They Get It Together? 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! Link to comment Share on other sites More sharing options...
GRINCH Posted November 24, 2004 Report Share Posted November 24, 2004 Opinions???? Thought I might like to poke at trading physical (normally not done-in grinch-hole deep storage). James Turk says its a turkey (seems the vaulting is done through layers of sub-vaulters.) ....however GLD competes with his Gold-Gram thingy. Me thinks it can't hurt, provided the physical actually leaves the market, I'll buy a bit on a severe correction....(-$60 or so). This thing's for trading...anyone expecting gold in hand is nuts!....a gold stock that can be more easily played (less volitility) but alas, less profit.....( or smaller bumps on my nogin?) Link to comment Share on other sites More sharing options...
GRINCH Posted November 24, 2004 Report Share Posted November 24, 2004 ....Saville still calling for a big dollar run-up. I've been sending him cryptic e-mails (calling myself Ayn Rand)....telling him its O.K. to be wrong. He never answers. ....the dollar will rally when its way over-done. (we're not there yet.) In the meantime lets rape some gold-stocks! Link to comment Share on other sites More sharing options...
Charmin Posted November 24, 2004 Report Share Posted November 24, 2004 ok, I was out late and up late AWOL again I see 452.2 on the February contract for yesterday 457 is the figure for daily overbought Link to comment Share on other sites More sharing options...
Charmin Posted November 24, 2004 Report Share Posted November 24, 2004 Doc your a day behind schedule you labelled the thread for Tuesday, but we'll just get by and think it's really a day before turkey day Link to comment Share on other sites More sharing options...
Charmin Posted November 24, 2004 Report Share Posted November 24, 2004 at this stage a big run for buck might be from 82 to 85 Link to comment Share on other sites More sharing options...
Drano Posted November 24, 2004 Report Share Posted November 24, 2004 I think Doc was hinting that it's Groundhog Day -- repeat of yesterday's action. Grinch, the big question is whether the GLD gold leaves the market. Turk thinks not. Link to comment Share on other sites More sharing options...
Charmin Posted November 24, 2004 Report Share Posted November 24, 2004 if gold is overbought at 448-457 area and the targets for buck is in the 82 area what do you think happens next get more overbought right - hahahah the creek on POG is in the 435 area 439 area might be the nearert logical pullback area at this stage or 38% retrace Link to comment Share on other sites More sharing options...
Guest Posted November 24, 2004 Report Share Posted November 24, 2004 I got an email last night regarding why I had put a line of ice @ 2.70-2.80 on the CBJ chart. I'm responding to it here becuase a picture speaks more than a 1000 words and it's a lot easier explaining it with illustrations. Basically we have huge trading range between 2.40 and 3.20. If you want to get into details you could draw a line of ice around the 2.70 area. It's proved to be resistance and support on a number of occasions in the past year. Link to comment Share on other sites More sharing options...
Guest Posted November 24, 2004 Report Share Posted November 24, 2004 Another question was why I don't draw the line of support at 2 but I consider the breakdown in May a shakeout. If CBJ falls below the support of 2.50 I'm out so I don't worry about the 2-mark. On the topside our resistance is 3.20. Once we break out 3.20 will turn into support. As far as the charts are concerned: I like 'em a lot. I believe you can get a 2-week free trial to try them out for yourself. The support you get is wonderful. Also, plenty of traders here use the software so just ask any questions you may have. http://www.StockSharePublishing.com Link to comment Share on other sites More sharing options...
Guest Posted November 24, 2004 Report Share Posted November 24, 2004 Since early November Gold has rallied $25 and the XAU has hardly made any progress. If gold sells off I don't think we'll see the gold equities tank as hard, but who knows right? A picture speaks more than a 1000 words: Link to comment Share on other sites More sharing options...
GRINCH Posted November 24, 2004 Report Share Posted November 24, 2004 .....right now either gold or gold shares are giving the WRONG message....I say the latter.....and have placed my bet..... Link to comment Share on other sites More sharing options...
traderfromhell Posted November 24, 2004 Report Share Posted November 24, 2004 I agree since for the most part they didn't participate on the move up any consolidation in gold won't lead to a sharp selloff in the miners. Link to comment Share on other sites More sharing options...
orvack Posted November 24, 2004 Report Share Posted November 24, 2004 Got me some yesterday. Dumont Nickel (DNI.v) : Link to comment Share on other sites More sharing options...
Charmin Posted November 24, 2004 Report Share Posted November 24, 2004 NEM and GG off their short term trading range lows good so far I noticed shippers this morning doing nicely TK, etc Iron and Steel - WLB coal Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.