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Monthly Digger - August, 2005


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Posted

Nice post Thor.

 

Most of you guys make me feel like a mental midget, some serious brain cells in action here. :)

 

Crapvision reports the yields on the 2 and 3 yr. treasuries just inverted, not a great sign for the economy.

 

I'm really hoping that the correction we've seen was just another chart shaker deigned to throw everyone off the train by take out support, then hitting with a whopsaw. I guess I mainly mean silver.

 

You're right about Gold Eagle too Thor - all bulls all the time, those guys can dig up bullish charts to support their case at the drop of the hat.

 

4 months is about right Charmin - this sector needs to prove itself.

Posted
Nice post Thor.

 

You're right about Gold Eagle too Thor - all bulls all the time, those guys can dig up bullish charts to support their case at the drop of the hat.

 

 

 

 

If you are not all out bullish GE forum will ban you forever without giving a reason

faster then you can say " correction"

 

Thor ; I once held an Australian mine my former bank promoted down to zero

So I can imagine allright how low I can go

Limbo lower now, lower that limbo stick :lol:

Posted
From Mr. Goldbug at GE forum - I rest my case, a chart for every persuasion. Must admit, it looks rather enticing. :)

 

http://stockcharts.com/def/servlet/SC.web?c=$XAU,uu[d,a]dacaynay[dc][pb50!b200!f][iUd10!La6,13,9]&pref=G

 

 

OH I have stuff from both sides of the aisle and they both make good cases. An important thing to keep in mind is that after this bull run and after an 18 month correction we are still a helluva lot closer to the top than the bottom.

Posted

 

I must admit, Hulbert has a point, it is puzzling why the metals haven't done better. I'm less sold on the contrarian idea as it is just one piece of the pie.

 

That being said - I'm thinking that demand for gold would come as a safe haven against the upcoming U.S. recession, which I now think starts in the 4th quarter.

The recession should be having an impact on the buck pretty soon too.

 

This hurricane was the straw that broke the camels back, I wonder if the Fed will continue to raise rates or just let inflation fly. Talk about worst case scenario. :(

 

BTW - I still think we get a 50-80% haircut in R.E. regardles of falling rates. 0% rates didn't help Japan R.E. from falling 90% in some areas.

 

Ageka - I know, I got tossed from GE awhile back for questioning Grininbarret's bullish chart. fornicate em' - the guys here are smarter and more balanced anyway. :)

Posted
From Mr. Goldbug at GE forum - I rest my case, a chart for every persuasion. Must admit, it looks rather enticing. :)

 

http://stockcharts.com/def/servlet/SC.web?c=$XAU,uu[d,a]dacaynay[dc][pb50!b200!f][iUd10!La6,13,9]&pref=G

 

 

OH I have stuff from both sides of the aisle and they both make good cases. An important thing to keep in mind is that after this bull run and after an 18 month correction we are still a helluva lot closer to the top than the bottom.

 

Are you talking about short term?

 

If you mean long term - I would completely disagree.

 

What we're seeing in terms of price now is a drop in the bucket. I think ultimately Sinclair will be proven right. BTW, isn't this near 2 yr. correction similar to one that occured in the mid 1970's? Sinclair thinks the top will be in 2012, if I remember correctly.

Posted

here is ikes take:http://www.financialsense.com/Market/wrapup.htm dharma

Posted

to throw my hat into the ring. on a daily chart, it looks like 5 waves down. on an hourly chart in looks like an abc down. we definitely came into support yesterday and put in a hammer bottom. so, i am thinking that we go up and test the highs, i will sell some, and then do a cwave back down. where i will buy back what i sold. i am looking for a strong finish to the year. this complex is a frustrating game.

re:oil almost every commodity that has had a parabolic blowoff has collapsed afterward. will oil be different!??! dharma

well thor is in good form!

Posted
From Mr. Goldbug at GE forum - I rest my case, a chart for every persuasion. Must admit, it looks rather enticing. :)

 

http://stockcharts.com/def/servlet/SC.web?c=$XAU,uu[d,a]dacaynay[dc][pb50!b200!f][iUd10!La6,13,9]&pref=G

 

 

OH I have stuff from both sides of the aisle and they both make good cases. An important thing to keep in mind is that after this bull run and after an 18 month correction we are still a helluva lot closer to the top than the bottom.

 

Are you talking about short term?

 

If you mean long term - I would completely disagree.

 

What we're seeing in terms of price now is a drop in the bucket. I think ultimately Sinclair will be proven right. BTW, isn't this near 2 yr. correction similar to one that occured in the mid 1970's? Sinclair thinks the top will be in 2012, if I remember correctly.

 

You misread me I think. I am a raging long term bull.

Posted

I'd like to remind people of TheCoinGuy's great work, "It is until it isn't". It still is. The patterns are still strikingly similar. If it holds we are going to have a hell of an upside run for the next month. Give us an update TCG if you read this. One stoolie didn't see your charts (links went bad). I copied your charts for reference though before they were pulled. :) but don't want to repost / put words in your mouth, for I am definitely not worthy.

 

I put my last paycheck into CBJ today @ 1.92. 0 debt (0 credit card, 0 mortgage, 0 car loan, 0 student loan, etc.), no margin.

 

In fact, I pay no rent. Benefits of old school extended family sticking together. You better believe though that I work like a horse doing chores and house-repairs. :)

Posted

 

Ageka - I know, I got tossed from GE awhile back for questioning Grininbarret's bullish chart. fornicate em' - the guys here are smarter and more balanced anyway. :)

 

I stopped even reading them

Eternal optimism can be deadly and I am allreay too bullish anyway :huh:

I got banished the second time for asking what happened to SMSC's charts

( He was banished and I was banished for asking ) :D

Just hang in there ; the breakout in euro happened and the one in Rand may be close ;)

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