hadjin Posted July 17, 2006 Report Share Posted July 17, 2006 I don't know, but miners sure seem like dying fish. I may need to reassess my entire thinking on the miners. Maybe get out of them completely in all honesty. I am Maddness...haven't you been negative on gold for a year plus ? Link to comment Share on other sites More sharing options...
dharma Posted July 17, 2006 Report Share Posted July 17, 2006 hadj, i go through the same thought process. its tough enough to get the direction right, but then to get the direction correct, and have the shares go down, is frustrating to say the least. for now, i am hanging in w/my shares. although i have considered the strategy of having more gld and slv. we will see what evolves. or just putting it all in the metal and forget about it. the dollar in past times was considered a safe haven dharma ps. gold is @ 650, i like those struggles. 400s are a distant memory! Link to comment Share on other sites More sharing options...
I_Am_Madness Posted July 17, 2006 Report Share Posted July 17, 2006 I don't know, but miners sure seem like dying fish. I may need to reassess my entire thinking on the miners. Maybe get out of them completely in all honesty. I am Maddness...haven't you been negative on gold for a year plus ? <{POST_SNAPBACK}> Well, i really havn't traded this sector since Feb this year. I'm not bearish nor bullish. Link to comment Share on other sites More sharing options...
Old Habits Posted July 17, 2006 Report Share Posted July 17, 2006 I don't know, but miners sure seem like dying fish. I may need to reassess my entire thinking on the miners. Maybe get out of them completely in all honesty. I am Maddness...haven't you been negative on gold for a year plus ? <{POST_SNAPBACK}> Haven't we gone through this on a weekly basis over the past month or so? Weak Mon. and Tues., then back up into the weekend? The miners have always felt like "dying fish", but on the whole, only a year or so ago the HUI was at 180 - now barely getting bitten with gold down $20, and over 320? Lets see what happens, the dollar as a safe haven....hmmm. We'll see how safe it is in the next six months as our economy comes to a screetching halt. Link to comment Share on other sites More sharing options...
hadjin Posted July 17, 2006 Report Share Posted July 17, 2006 OH ..your point about our ecomony slowing down.. My frustration is with the miners. IF/When we slow I'm afraid the miners willl just follow the Broads down. I'm seriously considing converting it all to GLD and increasing my personal physical holdings; and FORGETTING about it. Doesn't Russell only buy physical as an "investment", and miners are strickly a "trade" ? Link to comment Share on other sites More sharing options...
faramir Posted July 17, 2006 Report Share Posted July 17, 2006 Could it be that in fact the HUI outperformed gold when it bounced from 260 to 350 in the matter of 1 ? ? weeks? Now gold is simply catching up. My guess is that the HUI and gold went up too far too fast. I mean we had an unusually short correction compared to times past. I don?t know what to make of gold stocks. We had a pretty strong rally considering it was summer time and it seems early to start a recovery; but gold stocks have fooled me before. Link to comment Share on other sites More sharing options...
plantigrade Posted July 17, 2006 Report Share Posted July 17, 2006 The miners have always felt like "dying fish"... Wall of worry. A salmon's fate? Link to comment Share on other sites More sharing options...
Ander Posted July 17, 2006 Report Share Posted July 17, 2006 Sigh....uptrend broken, I guess we go to 300 now. Everything seemed so positive last week...so ready to rally. What happened? I thought the trendline would hold. I guess its never that easy. Link to comment Share on other sites More sharing options...
bearvest Posted July 18, 2006 Report Share Posted July 18, 2006 Sigh....uptrend broken, I guess we go to 300 now. Everything seemed so positive last week...so ready to rally. What happened? I thought the trendline would hold. I guess its never that easy. <{POST_SNAPBACK}> Yep, Here are the charts. And a look at the dollar ready to break out in a possible 3rd of a third. Link to comment Share on other sites More sharing options...
traderfromhell Posted July 18, 2006 Report Share Posted July 18, 2006 Point and figure Bear? I'm impressed. Sell here in Silver and a bearish engulfing on record CBOT volume today in the Gold. Link to comment Share on other sites More sharing options...
dharma Posted July 18, 2006 Report Share Posted July 18, 2006 in a war market, the jury is still out. volatility is the name of the game. the deflationists never looked at a chart of hm in the depression. from 3 to 144. dharma Link to comment Share on other sites More sharing options...
bearvest Posted July 18, 2006 Report Share Posted July 18, 2006 GOLD: I spent a couple of hours Sunday night playing with Gold charts. By midnight, this is what I came up with, but Gold was up $8.00 at the time, so it seemed foolish to post such a chart. I'm not prepared to speculate on the wave structure since 1982 or even 1999. However, the December, 2004 high was important and the long sideways correction after that was equally important. In commodities, 5th waves can go parabolic. In stocks, the parabolic moves are 3rd waves so you always have a chance to exit if you don't succumb to the 4th wave. In commodities, there may not be that second chance. The rally into the May highs should correct in an abc. I think we're entering the "c" wave. I've suggested some Elliott support zones. Link to comment Share on other sites More sharing options...
bearvest Posted July 18, 2006 Report Share Posted July 18, 2006 Point and figure Bear? I'm impressed. Sell here in Silver and a bearish engulfing on record CBOT volume today in the Gold. <{POST_SNAPBACK}> TFH: How did you draw that silver P&F? It seems to create a box for every 6 and 1/2 cents. I presume it's for very short term trades. The traditional P&F shows support at $9.50 and has a target that would make Prechter salivate, and far too freaking unbelievable. Link to comment Share on other sites More sharing options...
Charmin Posted July 18, 2006 Author Report Share Posted July 18, 2006 So, the war/terror premium was taken out of the gold price yesterday. If bonds break down and stocks get some support we'll know where the flight to quality is going. Link to comment Share on other sites More sharing options...
Old Habits Posted July 18, 2006 Report Share Posted July 18, 2006 in a war market, the jury is still out. volatility is the name of the game. the deflationists never looked at a chart of hm in the depression. from 3 to 144. dharma <{POST_SNAPBACK}> Yeah. This is a tough time to rely on your charts for guidance, a little too volatile to predict. 620-640 seems like a pretty solid floor. Who knows with the stocks. I'm hangin' like I have the past 3+ years. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.