Charmin Posted February 9, 2005 Report Share Posted February 9, 2005 Some things to think about... Euro and gold may be ready to rally for the short near term..... Uncle Buck has to be watched for supply entering. I don't see much demand for Uncle Buck, but it could be under some absorbing at the 83 area and obviously Dover Sole on the monthly. But, here's the kicker - this could be an important bottom if it holds up at those 12 year lows in the 80 area. Should we just kiss the PM market goodbye? I'd like to see Buck prove himself with a spring of the 80 area and then fail..... Maybe I should give that thought up too. Ike has some charts for Tuesday to consider near the bottom of the page http://www.financialsense.com/Market/daily/tuesday.htm Uncle Buck chart to consider http://www.commoditytradingresource.com/cg...rames/read/1683 At this point, someone might be asking if it's worth a long term investment in PM shares with all the negatives built up.... Link to comment Share on other sites More sharing options...
traderfromhell Posted February 9, 2005 Report Share Posted February 9, 2005 Some things to think about...Euro and gold may be ready to rally for the short near term..... Uncle Buck has to be watched for supply entering. I don't see much demand for Uncle Buck, but it could be under some absorbing at the 83 area and obviously Dover Sole on the monthly. But, here's the kicker - this could be an important bottom if it holds up at those 12 year lows in the 80 area. Should we just kiss the PM market goodbye? I'd like to see Buck prove himself with a spring of the 80 area and then fail..... Maybe I should give that thought up too. Ike has some charts for Tuesday to consider near the bottom of the page http://www.financialsense.com/Market/daily/tuesday.htm Uncle Buck chart to consider http://www.commoditytradingresource.com/cg...rames/read/1683 At this point, someone might be asking if it's worth a long term investment in PM shares with all the negatives built up.... <{POST_SNAPBACK}> Charmin I'm beginning to feel as if I made the a wrong turn and am too embarrassed to ask for directions. I hindsight and it was so obvious 80 was strong support in the DX. Link to comment Share on other sites More sharing options...
Crouching Tiger Posted February 9, 2005 Report Share Posted February 9, 2005 The $usd posted a 2-close reversal on the monthly chart for the end of January. This is the first time it has done this throughout all bull rallies within the downtrend. Link to comment Share on other sites More sharing options...
Charmin Posted February 9, 2005 Author Report Share Posted February 9, 2005 Charmin I'm beginning to feel as if I made the a wrong turn and am too embarrassed to ask for directions. I hindsight and it was so obvious 80 was strong support in the DX. <{POST_SNAPBACK}> Go west young man..... Link to comment Share on other sites More sharing options...
Old Habits Posted February 9, 2005 Report Share Posted February 9, 2005 Here's an article that addresses your sentiments. Pretty timely. http://www.kitco.com/ind/Schiff/feb082005.html Link to comment Share on other sites More sharing options...
Charmin Posted February 9, 2005 Author Report Share Posted February 9, 2005 I like NG! Link to comment Share on other sites More sharing options...
Charmin Posted February 9, 2005 Author Report Share Posted February 9, 2005 NTO is around 2.75 and buy limit is set for 2.55 OZN buy limit set for 1.18 - here now Link to comment Share on other sites More sharing options...
Old Habits Posted February 9, 2005 Report Share Posted February 9, 2005 It seems like we may be due for a bounce here - even if it's a temporary one. Would love to see the broads dump and the HUI diverge. Link to comment Share on other sites More sharing options...
Charmin Posted February 9, 2005 Author Report Share Posted February 9, 2005 GLG Link to comment Share on other sites More sharing options...
Charmin Posted February 9, 2005 Author Report Share Posted February 9, 2005 With the Euro set to bounce off support and Buck ready to retest a resistatance and possibly go down to 80 that religious experience that Puplava talked for the Gold shorts might just start today Link to comment Share on other sites More sharing options...
Charmin Posted February 9, 2005 Author Report Share Posted February 9, 2005 Feargreed dude said.... The XAU is groping for a bottom, as it approaches major Fibonacci Cluster Support basis the weekly chart. A key number to look for, which will provide a strong clue that the bottom is in. The XAU needs to close over 91.02 on Feb. 10. How about if we do it by friday instead Link to comment Share on other sites More sharing options...
Charmin Posted February 9, 2005 Author Report Share Posted February 9, 2005 From Doc, Precious Metals Carnage Continues http://wallstreetexaminer.com/index.php?itemid=192 Link to comment Share on other sites More sharing options...
Guest Posted February 9, 2005 Report Share Posted February 9, 2005 we are very close to a bottom here. i do think we will have a good rally. and depending on the nature of the rally, it will tell us if it is corrective or impulsive. impulsive will eventually lead to new highs. if the dolar is key, it cannot get through resistance so far. fwiw, my own take is the rally will be corrective, ie a bounce and then a washout low in march or april and then back to the bull. it aint pretty or fun. dharma Link to comment Share on other sites More sharing options...
traderfromhell Posted February 9, 2005 Report Share Posted February 9, 2005 we are very close to a bottom here. i do think we will have a good rally. and depending on the nature of the rally, it will tell us if it is corrective or impulsive. impulsive will eventually lead to new highs. if the dolar is key, it cannot get through resistance so far. fwiw, my own take is the rally will be corrective, ie a bounce and then a washout low in march or april and then back to the bull. it aint pretty or fun. dharma <{POST_SNAPBACK}> I agree. The volume on the shares will tell the tale. I'm betting on more low volume. Link to comment Share on other sites More sharing options...
Charmin Posted February 9, 2005 Author Report Share Posted February 9, 2005 If you have been following my posts over at M2M you'd see that stock traders almanace believes we hit the top of the market on the Dow the end of December..... Euro "should" bounce here with Buck at confluence resistance... The top of the market ends with energy, then a few other sectors on the right side of the roll.... The economy follows.... Right now the anticipation is for buck to retest the monthly low in the 80 area but we have that bit of absorption in the 83 area.... I think it's a good time to pick a few and see what plays out from here. Link to comment Share on other sites More sharing options...
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