[Charmin]

Has your junior been carpet bombed or the rug been pulled out from under your stock in the last seconds of the day as Jim Puplava would say? Jesse Livermore once said something about sitting tight in "Reminiscences of a stock operator." Bring out your magic carpet, put some weight on it and get comfortable.

"After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level, which should show the greatest profit. And their experience invariably matched mine -- that is, they made no real money out of it. Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn."

[Charmin]

"Gold is an example of a recent buy signal flashed by MACD. Gold has been forming a bullish triangle pattern during the past three months. It recently bounced from near its 200 day moving average and broke above the triangle pattern. Next technical target is $1033, its all time high. MACD has established an upward trend. Gold’s historic period of seasonal strength from July to September is appearing earlier than usual this year. "
June 30 Techtalk http://dvtechtalk.com/June/June30.htm

[bearvest]

Wave 4 or C:

The indices and many of the miners appear to be completing a 3rd wave up.

Note the doji on the daily charts and Stochastics moving into Dover Sole territory.

Once 3 waves are in, I tend to stand aside. Right now, it's impossible to say that it's 3 of an impulse up or a corrective upward "c".

Moreover, HUI, at least is at resistance at 460-475.

Resolution should soon follow.

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[bearvest]

GOLD:

I don't subscribe, but Mike Swanson seems to be fairly accurate on his calls on GOLD.

I simply know him from his posts at Safehaven.com.

He's made good calls over the past 2 years.

I'm with him on the timing aspect.

I don't think, now, that this is the big move. I thought so in April and May, but I now think it's later this summer for the "best entry."

Elliotticians think of "the point of recognition" as early in wave 3.

Using GG as my strongest example, neither MACD or On balance volume confirm that a point of recognition has been achieved. Both saw their peaks in March.

http://www.safehaven...ticle-10647.htm

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[Whadda I Do Whadda I Do]

Charmin, on Jun 30 2008, 12:52 PM, said:

Has your junior been carpet bombed or the rug been pulled out from under your stock in the last seconds of the day as Jim Puplava would say?  Jesse Livermore once said something about sitting tight in "Reminiscences of a stock operator."  Bring out your magic carpet, put some weight on it and get comfortable. 

"After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level, which should show the greatest profit. And their experience invariably matched mine -- that is, they made no real money out of it. Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn."

I wonder if he was holding any TRE at the time?

[Whadda I Do Whadda I Do]

This short trading week should be fun. Gold showing tremendous strength at the end of the month and regular markets down. Blogs are worried another bank failure is near. It's a guess which way the mining sector breaks, I was thinking gold at $950 would be the target for pause but a mini bubble could develop anytime in the miners.

[Ander]

I think we'll see HUI 415 before we see 480.

Everything from May to now just looks like a 3 wave corrective pattern, so I think we have some sort of decline coming here, with "the" bottom coming in a few weeks or later in the summer as BV said. Where "the" bottom is not necessarily the lowest low, but rather the final significant bottom before a huge and sustained rally.

[Todd]

Loving all the negative vibes.

[AgentSmith]

Agreed Todd, we are barely into the base of this wall of worry.

935 spot, new recent high.

[dharma]

this is all music to my ears! charmins quote of wisdom above says it all. from 29years of experience in this biz i have come to that simple conclusion. it aint easy, but it will prove to be the most profitable! its difficult to guess what will happen next. but, a trend in motion will continue until it actually stops. this trend has much more expression left to it. is that the end of mrb?
comfortable in my seat w/my position. dharma

adding to mmg

[Charmin]

August gold appears to now have a new high above the month of May. Approaching the monthly resistance area going back to April from 950-960.

[Charmin]

Jim Puplava was reporting this past weekend's Financial Sense newshour that there were more silver eagles sold in the first quarter of this year than all of 2007.

[AgentSmith]

dharma asked: Is it the end of MRB?

"No such ticker symbol MRB. Try Symbol Lookup"

No my friend, it is just the beginning, a New beginning.

NGD all the way now. Welcome to the club, we have good company.

edit: dharma, see your note of adding to MMG...nice! all the zincs plays are about to have a monster move folks, some plays: MMG, LMC, CZICF, CUUEF (CNU.V), FRLLF (FAN.TO).

[faramir]

Sigh....I guess a few of us were wrong to our pain today. Should have held my tradable positions in GG and ABX. Of course GRS and GSS, which I still hold, are doing diddly today. Just didn't think such a rocket price increase could be sustainable in GG....seems I was dead wrong.

[dharma]

added to exk this am too.
dharma
mfn getting some love
agent sure hope you are right. the majors are getting some mojo. they are the 1st step to make the juniors go
dharma
mmg has daily rsi divergences, if it holds, this will be the bottom!