kernull Posted July 7, 2008 Report Share Posted July 7, 2008 got gold at 920 (at oil pullback to 140.50), looks good support to me, stop 917.50 915 it is, even more bullish than 910 , complete calm, buy time Link to comment Share on other sites More sharing options...
kernull Posted July 7, 2008 Report Share Posted July 7, 2008 [/b] Just tripped? yeah Link to comment Share on other sites More sharing options...
bitbigt Posted July 7, 2008 Report Share Posted July 7, 2008 915 it is, even more bullish than 910 , complete calm, buy time ...hate to be a killjoy, but I'm starting to change my short-term view: If oil keeps pulling back, we could get a sympathy fall in gold (I think that's whats started in the last 18 hrs), back down to 890. But I still only give this scenario a 25% chance of occuring, rising to a much greater chance if we fall below 910 today. Link to comment Share on other sites More sharing options...
kernull Posted July 7, 2008 Report Share Posted July 7, 2008 ...hate to be a killjoy, but I'm starting to change my short-term view: If oil keeps pulling back, we could get a sympathy fall in gold (I think that's whats started in the last 18 hrs), back down to 890. But I still only give this scenario a 25% chance of occuring, rising to a much greater chance if we fall below 910 today. no no, oil is not falling, there is no volume in oil sales. oil is likely to osciliate a lot before going down, at least it has to try 145 once more, and by that time, we are going to be in gold close to 950 again. I am in silver and gold again. Link to comment Share on other sites More sharing options...
Bobsta Posted July 7, 2008 Report Share Posted July 7, 2008 That's my reading of it Gatesy. In a word: volatility. I think "volatility" is very much the word. Good call. Link to comment Share on other sites More sharing options...
wren Posted July 7, 2008 Report Share Posted July 7, 2008 I went to post on DrBubb's nonsense thread, but it wouldn't let me. So I'll post some nonsense here instead. Bubb a dub dub Three shorts in a tub, The banker, the doctor, the day market trader, If their day-trades were faster The banker would not miss his wunch. © WrenIdiocyTM Gold at 928.20 now, above where is started. Did these new margin requirements cause the strange ups and downs today? Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted July 7, 2008 Report Share Posted July 7, 2008 This volatility must be playing havoc with the day traders and their stop limits, especially the M and W patterns! Link to comment Share on other sites More sharing options...
Bobsta Posted July 7, 2008 Report Share Posted July 7, 2008 This volatility must be playing havoc with the day traders and their stop limits, especially the M and W patterns! I agree to a point... but... anyone using trailing stops will do quite well out of these rebounds. Price rises, stop moves up... price reverses, trips out... Buy back in after the drop, ride the wave again...... rinse and repeat. Some people will have been lucky and tripped out around $18 in Silver today... then been able to get back in at $17.60 (I'm not one of those people, BTW!) Link to comment Share on other sites More sharing options...
kernull Posted July 7, 2008 Report Share Posted July 7, 2008 just a cool chart from goldismoney.info http://img80.imageshack.us/img80/2060/22413741nk0.gif Link to comment Share on other sites More sharing options...
Steve Netwriter Posted July 7, 2008 Report Share Posted July 7, 2008 just a cool chart from goldismoney.info http://img80.imageshack.us/img80/2060/22413741nk0.gif Link to comment Share on other sites More sharing options...
Steve Netwriter Posted July 7, 2008 Report Share Posted July 7, 2008 For myself, I'm just wondering at what price I ought to be tempted to top up my core position! From my thread on analysing gold & silver in US$, GBP & JPY, with different MAs, IMO you can be pretty confident about when to buy when it is at a bottom. I think that bottom was pretty obvious. It's less easy to say where subsequent higher bottoms will be. Here's the thread with all my charts: Gold & Silver in US$, EUR & JPY with MAs The results may surpise you http://www.greenenergyinvestors.com/index.php?showtopic=3293 I think this is where we are now: And putting that into context, the JPY low, with the 55week red MA being the best fit. So if you want to wait and hope for the best price, IMO wait until this chart shows the gold price getting close to the blue line, or if you are VERY lucky, the red line. From: http://stockcharts.com/h-sc/ui?s=$GOL...id=p06579893092 And what that says about where the the US$ low would be (ie the start of May): So my vote is you'll be lucky to get $910. I also agree with the view that trying to pick the exact best price will seem rather irrelevant when gold is above $1200 But I understand the desire Link to comment Share on other sites More sharing options...
headmelter Posted July 8, 2008 Report Share Posted July 8, 2008 ...good idea. What's your addres by the way? I intend to bury a few of these too. Link to comment Share on other sites More sharing options...
Gatesy Posted July 8, 2008 Report Share Posted July 8, 2008 I think this is where we are now: I've seen this 'bath' shaped chart a lot recently, including from JS. Do we really think the price is following this line going forwards. If we do the price is going exponential RIGHT NOW !? Link to comment Share on other sites More sharing options...
notanewmember Posted July 8, 2008 Report Share Posted July 8, 2008 Its that a sort of cup and handle formation? TA a bit like bird spotting. Link to comment Share on other sites More sharing options...
Bobsta Posted July 8, 2008 Report Share Posted July 8, 2008 I think this is where we are now: Nice curve(s) Steve. Any chance you could share one with a log scale? I'd be *very* interested to see how that looks right now. Personally I'm still cautious/nervous but if we manage to stay above $915 all this week then I might join the "we're going exponential" camp. Silver's strange M/W formation yesterday has me scratching my head, I must say. Link to comment Share on other sites More sharing options...
bitbigt Posted July 8, 2008 Report Share Posted July 8, 2008 I intend to bury a few of these too. Interesting. Did I mention that I employ hundreds of cheap Asians. I might send them round for coffee, as a treat, with very big teaspoons (shuvels) Link to comment Share on other sites More sharing options...
romans holiday Posted July 8, 2008 Report Share Posted July 8, 2008 Like that graph Steve, looks like gold is laughing at the world as the markets go to hell in a handbasket. Anyone for wave three? Link to comment Share on other sites More sharing options...
alexreeve Posted July 8, 2008 Report Share Posted July 8, 2008 goldie.bmp ouch Link to comment Share on other sites More sharing options...
dietcolaaddict Posted July 8, 2008 Report Share Posted July 8, 2008 Here is the updated chart from my comparison of the gold price peaks in 2006 and 2008 (and their subsequent corrections). To recap, I have normalised both peak values (dated 12 May 2006 and 17 Mar 2008) as 100% price at the time point of day 50. The 2008 peak/correction is clearly less volatile, but its price at days 100-120 remains very similar to 2006. We want to see gold getting into the $950 price range soon to avoid this being a case of history repeating itself. Link to comment Share on other sites More sharing options...
romans holiday Posted July 8, 2008 Report Share Posted July 8, 2008 Nice chart diet cola... I was thinking this pattern would repeat a month ago, but now think things are developing too fast in the stock markets/dollar... or should I say unravelling. I reckon gold will stay solid here and move up steadily before taking off with the coming "earthquake". "The same sort of thing happens in markets. It is the source of the saying that “markets spend 90% of the time making up their minds and 10% of the time doing what they have to do”. Countervailing pressures build up causing minor tremors. Then pressures continue to build until there is a major change in the market place, the equivalent of an earthquake. The US dollar index was 120 seven years ago. It is now 72, a decline of 40%. This magnitude of decline over a seven year period gives the impression of several minor declines (tremors) stitched together. The world situation is now fast developing to the point where the downward pressures on the US dollar will become overwhelming and there will be a sudden, earthquake-like, decline to a level where there is the prospect of the US trade deficit being eliminated. Once the US Dollar index drops to a new low below 70, events will probably happen quickly. That will be the signal that the dollar’s doomsday will not be far away." http://news.goldseek.com/AlfField/1215529200.php Link to comment Share on other sites More sharing options...
Steve Netwriter Posted July 8, 2008 Report Share Posted July 8, 2008 Here is the updated chart from my comparison of the gold price peaks in 2006 and 2008 (and their subsequent corrections). To recap, I have normalised both peak values (dated 12 May 2006 and 17 Mar 2008) as 100% price at the time point of day 50. The 2008 peak/correction is clearly less volatile, but its price at days 100-120 remains very similar to 2006. We want to see gold getting into the $950 price range soon to avoid this being a case of history repeating itself. Nice chart I can't believe 2008 will be a repeat of 2006 ! Just compare the real rates in 2006 with now !!!!! Am I sounding bullish enough ? Link to comment Share on other sites More sharing options...
Steve Netwriter Posted July 8, 2008 Report Share Posted July 8, 2008 Segment 4 - Al discusses the possible serious banking crisis with 321 Gold's Bob Moriarty. Saturday, 07.05.08 http://www.kereport.com/audio/0705-04.mp3 from: http://www.kereport.com/ "We've seen the bottom in gold & silver" The banking crisis: "Fortress bank expects a complete collapse of the US financial markets shortly" "Shortly = within a few days/weeks" "That's exactly what I've been predicting. We're not entering a banking crisis. We are IN a banking crisis". "The result of the banking crisis will be a total freeze-up of the system" "I've been predicting it for a year, and I used to be a way from the mainstream, but the mainstream is moving towards me" "4x major banks came out last week saying a collapse is imminent" "He is dead wrong, this bears no comparison to the depression, this is going to be 10x worse" "And it's going to be global" "It's only just started. We haven't cured anything" "This is not a time to be speculating, this is not a time.........this is a time to hunker down, because we're going to have a force 10 hurricane" Link to comment Share on other sites More sharing options...
kernull Posted July 8, 2008 Report Share Posted July 8, 2008 bad weather, oil broke 139 support, looks like we are going close to 900 line, 905, 902 should be the bottom now, expert commodity traders are in "watch and wait" mode, so will be I. p.s. btw, a real huricane, Bertha is comming, hope it will not touch golf of Mexico because this is going to be a lot of troubles. Link to comment Share on other sites More sharing options...
kernull Posted July 8, 2008 Report Share Posted July 8, 2008 bad weather, oil broke 139 support, looks like we are going close to 900 line, 905, 902 should be the bottom now correction, the bottom should be 910, below 910 would mean it was false break out and it is unlikely. source: http://www.incrediblecharts.com/tradingdia..._gold_forex.php oil is going to 131 Link to comment Share on other sites More sharing options...
Bobsta Posted July 8, 2008 Report Share Posted July 8, 2008 Today's Gold Market Sesame Street is brought to you by the letter 'V' V is for Volatile Link to comment Share on other sites More sharing options...
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