romans holiday

Kkkkkkkkkrrash! Good chance AGQ will hit 40 here... and then some.

Back on track after a spot of short-covering. Dollar looks like it could move up a bit here.

So something like a 20% appreciation of the 'base-line' averaged year on year?

$Silver not too far off its 200 week MA. Doubt it would get quite that low though.

Yep, pretty much agree. The 'technicals' can be just as much a disadvantage as an advantage insofar as they detract or distract from the simpicity of a long term log chart. Not sure what you mean by this.

Ha! Yep, i have itchy fingers also, but will stick to my discipline; give it until Xmas, and look for 40. The longer term also helps as AGQ doesn't look too oversold yet. Nor dies silver.

Thanks PD. That has to be the chart by which to keep your bearings in the seasonal, or not so seasonal, squalls. I would interpret it slightly different as far as 'trend lines' go. As opposed to the straight line, where the price is supposed to 'bounce', I prefer to see the [occasionally punctuated] curvature of a cup on these kind of corrections. For me, the low point in '08 is the equivalent of the low we saw this mid year [which was around 1550 if I remember correctly]. The cup pattern this time round was not as deep. I think this dip here will be relatively brief.. perhaps down to 1600.... and then to new highs. If the chart [and that reading] is anything to go by, now is the time to buy. I agree with Sledgehead's point that often you have to let a chart speak for itself... and this long term log is speaking volumes. The trick for the trader, not to mention the investor, is to be disciplined and to bracket out the daily emotion and headline news. Helps also to be well hedged.

http://news.goldseek.com/BullionVault/1355922791.php

Nice chart.... bet it looks even better on the log though.

One more bungy plunge please Santa.

These charts from stockcharts.com. But if you want longer time frames, you need to subscribe. The weekly and daily charts suit me fine for trading. I try to let the MAs do the talking. An excellent time to buy gold wouldn't you agree?

Perhaps a brief dip below the 50 week MA. $Gold looks to be tracing out a large cup pattern. This dip could be near symmetrical to the earlier dip at the end of last year [though perhaps not so precipitous as the price looks to be stabilizing/ consolidating near the MWA] before heading back to the old highs.

Yes, you were looking to buy back around 41 right? I'd love to see one last decent dip down here as my buy order is still placed at 40. IF instead it tracks sideway a bit will look at buying back in at around this levels. Will give it the rest of this month first.

Back on track

40 would be nice for Xmas.

Or just some profit taking by the hedgies triggering some stop losses.

Gold down hard through 1700 even after the big meeting. Will be interesting to see whether support at 1670 holds.

On the backend of the long consolidation since the spike [a large cup pattern], the 50 week MA looks good support.

....

Looking at both MAs, the consolidation in silver seems to be near completed. Am guessing the 50 week MA will provide support in the interim beofre silver strengthens towards 50 next year.

Looking at both MAs, the consolidation in silver seems to be near completed. Am guessing the 50 week MA will provide support in the interim beofre silver strengthens towards 50 next year. Would like to see one more decent dip on market nerves towards the 'fiscal cliff' over the next week or two .

http://news.goldseek.../1355036580.php

Deflation is it?

Would like to see one more washout in silver [to 40], but if it continues to track sideways will consider buying back in at the end of this month/ this year.

No probs. I certainly have some misgivings towards long AGQ [i trade AGQ short term for dollars to allay those misgivings... but then having a long position in AGQ bolsters this very trade... think of it as a 'dialectic' of sorts]. Just for the record, the long was bought one year ago then at 40. Even with the continued consolidation in silver, it is showing today, with AGQ at 52, a profit of 25%. And that is in a relatively bad year for silver. Imagine what it will do if/ when silver goes on a rampage next year.