Charmin Posted June 3, 2008 Author Report Share Posted June 3, 2008 Ander, I can completely appreciate what your saying. Getting chewed up and frustrated and trying to have extreme patience has a way of destroying success for investing. Seems like even if you hit a good breakout, price somehow comes back to that area. I was looking at KGC. A little breakout on Jan. 2 and it's still floundering around with that price area. Good news though, the 200dma is actually still rising - if that's any consolation. http://www.StockSharePublishing.com/ChartL..._1212460465.png I sure wish some little leprecon waved his magic wand. Link to comment Share on other sites More sharing options...
Charmin Posted June 3, 2008 Author Report Share Posted June 3, 2008 Come to think of it the 200dma appears to be still rising on at least half a dozen gold stocks I looked at - even with the price below it. At least that's one positive. I hope somebody is watching. Link to comment Share on other sites More sharing options...
No Einstein Posted June 3, 2008 Report Share Posted June 3, 2008 Havent posted in a long time.? .....................I appreciate everyone's comments on this board, and over the years I've come to appreciate Bearvest's thoughts most of all ,because he is so cautious, that when he does finally expect a rise he is usually right.? And whenever I am hopeful and he is pessimistic, he turns out to be right more often than me. 665230[/snapback] I second that emotion... .I find BV's cautious approuch refreshing... Thanks for all that you contribute BV...NE Link to comment Share on other sites More sharing options...
bearvest Posted June 3, 2008 Report Share Posted June 3, 2008 XAU: The intra-day chart shows a very standard 5 wave impulse down with the usual 3rd wave extension. The corrective action over the last 2 days is sloppy and overlapping, as indicated by the red line. The candle on the daily looks ominous. We should retrace to wave 4 of the impulse down at 185. We could retrace to former support (now resistance) at wave 1 around 187. But impulses travel with a friend. An impulse down is followed by a corrective wave and another impulse. I don't know where this complex correction will end, and the abc pattern will be complete. But it's likely not safe to enter the water until we see a print in the 160's, and daily Stochastics has visited or re-visited below 20. Link to comment Share on other sites More sharing options...
Metamucil Posted June 3, 2008 Report Share Posted June 3, 2008 What has changed? It's been on a buy for a while. Bubble? Link to comment Share on other sites More sharing options...
bearvest Posted June 3, 2008 Report Share Posted June 3, 2008 What has changed? It's been on a buy for a while. Bubble? 665251[/snapback] Nothing, I guess, except a bit of bearish divergence on MACD and its declining histogram, and very significant divergence in Stochastics---always a worry on longer term charts. There's a gap which, I've guessed, will be filled as a B wave. It colours my downside targets. I sold at 42.91 and I'm looking to get back in at 38.00. The wicks, tails and gaps reside there. My target is actually 37.00. If I can get back in after a 13% decline I'm happy. Link to comment Share on other sites More sharing options...
bearvest Posted June 3, 2008 Report Share Posted June 3, 2008 HUI: Why not? Link to comment Share on other sites More sharing options...
Ander Posted June 3, 2008 Report Share Posted June 3, 2008 As I see it: Option 1: After a small rally to HUI 435-440ish, we drop to 370-390 for the ultimate bottom of this correction. (BV's chart) Option 2: The decline since May 21 was the B wave in a 3 wave rally to 470-490, which will be followed by a decline to the 390? level, for the ultimate bottom of this correction. #1 is over faster, #2 goes up significantly more before before a bigger drop. Its very hard for me to see a pattern that doesnt lead to a significant decline, because there is a pretty obvious 3 waves up from April 28 to May 21, and the decline since then seems to severe to be a wave 4. Link to comment Share on other sites More sharing options...
dharma Posted June 3, 2008 Report Share Posted June 3, 2008 peak gold! http://whiskeyandgunpowder.com/Archives/2008/20080602.html dharma Link to comment Share on other sites More sharing options...
dharma Posted June 3, 2008 Report Share Posted June 3, 2008 the gold stocks maintaining firmness in the face of golds weakness is a tell here. the stocks will lead the next leg. watching the 850 support in gold. everyone trades the market based on their experience and personality. this game is about making money. from my experience of trading for 29 years, i have concluded that the most money is made by buy and hold in bull markets, and that is what i am doing . i have held gg since 12 and others equally as long. my studies indicate that this will end in a parabolic blow off. so, until that occurs i am long. my returns have been fairly consistent. so, i am comfortable w/the strategy. i am looking @the bottom line. this trend is in motion and it will continue until it blows off. from what i see, none of the drivers are being addressed, and w/lessening of economic activity, i expect the federal deficits to skyrocket. just as natural as day follows night, so goes the trend of a bull market. i dont count my $$$ on a daily basis. sure corrections are annoying, but they are part of the natural process. dharma Link to comment Share on other sites More sharing options...
Whadda I Do Whadda I Do Posted June 3, 2008 Report Share Posted June 3, 2008 If you line your short term fundamental ducks up in a row, the fuel costs are really putting a hurt or at least a somber tone on at the pump and the trickle down effects are just beginning. The bank meltdown(s) came to the surface only back in August 07' and have gained speed ever since. The offshoots of these problems lag but are growing just as fast. RE would have corrected anyway but leaves the consumer in survival mode. If you have to wait four more months for decent returns on investments or two more years both time frames are relatively short in the grand scheme of things. Link to comment Share on other sites More sharing options...
dharma Posted June 3, 2008 Report Share Posted June 3, 2008 deleted as per the posters request! NE 665245[/snapback] posts like this one, from someone who contributes little to nothing make me wonder why i continue to post! dharma Link to comment Share on other sites More sharing options...
Soundguy Posted June 3, 2008 Report Share Posted June 3, 2008 Dharma, Your posts are very, very appreciated! Please stick around. Yours, Gold Majestic, Coin Guy and other posts are nuggets of wisdom for myself and I am sure others who do not post. I carefully read, think about and re read your posts. I never post as my knowledge is so small about these matters as to be not measurable. However, it is to my learning that I devour the wisdom on this board. So to all those who do post , discuss, comment - Thank You, Thank You, Thank You! And to those who may choose to bash, negate or otherwise offend posters -- Please consider carefully before posting. These people have tirelessly posted only to be sometimes relied with useless offense. This is a very tough game-- that much I know. But the rewards can be great. The wisdom offered here on this board I have been unable to find anywhere else on the web or in the world for that matter! And though I do not post as yet, I hope someday to be able to offer something in the future once I have a better level of understanding and wisdom. And that wisdom is being developed by those of you who so generously share their thoughts, charts and stock symbols so we may do our own due diligence and learn. Thanks SoundGuy Link to comment Share on other sites More sharing options...
Whadda I Do Whadda I Do Posted June 4, 2008 Report Share Posted June 4, 2008 crude Link to comment Share on other sites More sharing options...
Charmin Posted June 4, 2008 Author Report Share Posted June 4, 2008 Hmmmm. "Consider this my second warning that the dollar will rise. And soon. That makes now perhaps the last opportunity to position your portfolios for maximum gain." http://www.investmentu.com/bin/r/w/20080603_IU.htm Link to comment Share on other sites More sharing options...
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