Honestly,good analysis that transcends all time frames(seconds,minutes,hours, days,weeks,months.) is what I look for.
Long term charts provide better clues IMHO and daily rhetoric about catastrophoc move makes me ill at best. They just dont matter in the larger scheme of things.
Intraday moves hardly define trends in this market,have an argument to the contrary and I would really like to hear it. ??
I think this will be a very big deal and we will know monday cut and dried. Isnt this how Mf Global gets the cash back into their bankruptcy proceeding without being the bad guy?
At the least I would expect a false breakout for usd and euro,the hft's thrive on them, jmo
A test of each red line would build a small IHS and HS that would break out each larger ihs and hs.
"If I haven’t mentioned it before (I probably have), over the course of the eleven year PM bull market, gold is actually DOWN in COMEX trading hours on a cumulative basis. Think about it – gold rose from $250 in 2000 to $1,900 in 2011, with the great majority of VOLUME trading on the COMEX, yet gold is DOWN in New York trading hours, and obviously UP dramatically in Asia, where PHYSICAL, not PAPER gold is being transacted. My thanks to the great European analyst Dmitri Speck for bringing this anomaly to my attention in 2004, a trend that has only grown more stark since."
The problem with that chart is quite simple, it projects a pattern unto it that simlpy is not there.
Trendlines are not connected to actual price so the chart remains fictional.
I prefer the attachment which is actual. JMHO
I remain stuck on selling 6 months ago and buying here where prices are 20% better. That I know is non fiction.
ps the income portfolio I use is up over 7% since march, so a switch back in august and the recent lows to a heavier equity weighting has guaranteed one thing.
This is a 7% gain since march and a rebalance into equities at 20% discount which certainly can go lower but they were purchased at a much lower acb with 7% greater funds to use. I like that.
As opined a couple months ago I still wonder if the trendline from the bull market begining through the 1987 high will hold. Since then price has tested this (imo) important trendline again on monthly basis and rsi is at an importnat long term support Who knows ?.....
On another note the dow gold chart posted two yrs ago or so has done exactly as noted at that time, to date at least. What happens next is another thing.
I am very leery of a writer that can get something so wrong yet has such a strong platform to speak from. He was bullish on the banks just before the crash.
Quote on Jul 21;
"So as summarized from earlier, we can see positive divergence warned of the potential for a reversal. The stocks were oversold near a major demand zone (support) that had supported prices at least two times in the last two years. Prices have rallied to break the downtrend in early July and have recently retested the lows as of Monday, successfully I might add."
I have attached the bkx chart I was looking at during the past year and in particular at that time.It was a very bearish chart.
ps If you click on any authors name you will get their history of articles, very usefull for back checking.
You sure deserve a lot of thank you's Bill. The noise of other so called analysts all over the web and media is almost deafening at times. When I see your beige highlighted posts I tune them all out and "listen" to what you have to say. Thanks very much, I have listened recently as always, but done well by acting this time around.
If you go back on 11 yrs of data, you will not find a gap in price for the $Hui basket of unhedged gold stocks index. I forget the reasoning on why this cannot gap. Anyways on friday the index did indeed gap.How can this be?
Hs top was also apparent, fib support and resistence obvious, but hard to see when the focus is on days hrs and minutes. jmo A reversal lower would build a much larger potential for an HS top at the lower black "potential" neckline.
lower imho 1.20 and 88
ish.....
http://en.wikipedia.org/wiki/Hyperbole
Honestly,good analysis that transcends all time frames(seconds,minutes,hours, days,weeks,months.) is what I look for.
Long term charts provide better clues IMHO and daily rhetoric about catastrophoc move makes me ill at best. They just dont matter in the larger scheme of things.
Intraday moves hardly define trends in this market,have an argument to the contrary and I would really like to hear it. ??
http://www.financialsense.com/financial-sense-news...
Agree they are over the top...always.
But I just feel this crap is always done as an impetus to smash me to smithereens...a pavlovs dog thingy.
I think this will be a very big deal and we will know monday cut and dried. Isnt this how Mf Global gets the cash back into their bankruptcy proceeding without being the bad guy?
http://www.zerohedge.com/news/cme-goes-margin-defc...
A pretty darn quick 61.8 retrace in my books, although 1270ish looks like a certain target.
caveat; who knows..........
Technical imho, the hui 60m chart for oct is an hs top that fell through the neckline. TSX looks like it is up next.
Technical imho, the hui 60m chart for oct is an hs top that fell through the neckline. TSX looks like it is up next.
http://www.youtube.com/watch?v=28PSnCwCMp4&feature...
This is very succinct video to that topic
http://www.youtube.com/watch?feature=player_embedd...
At the least I would expect a false breakout for usd and euro,the hft's thrive on them, jmo
A test of each red line would build a small IHS and HS that would break out each larger ihs and hs.
Here's an interesting stat from Midas last night;
"If I haven’t mentioned it before (I probably have), over the course of the eleven year PM bull market, gold is actually DOWN in COMEX trading hours on a cumulative basis. Think about it – gold rose from $250 in 2000 to $1,900 in 2011, with the great majority of VOLUME trading on the COMEX, yet gold is DOWN in New York trading hours, and obviously UP dramatically in Asia, where PHYSICAL, not PAPER gold is being transacted. My thanks to the great European analyst Dmitri Speck for bringing this anomaly to my attention in 2004, a trend that has only grown more stark since."
The problem with that chart is quite simple, it projects a pattern unto it that simlpy is not there.
Trendlines are not connected to actual price so the chart remains fictional.
I prefer the attachment which is actual. JMHO
I remain stuck on selling 6 months ago and buying here where prices are 20% better. That I know is non fiction.
ps the income portfolio I use is up over 7% since march, so a switch back in august and the recent lows to a heavier equity weighting has guaranteed one thing.
This is a 7% gain since march and a rebalance into equities at 20% discount which certainly can go lower but they were purchased at a much lower acb with 7% greater funds to use. I like that.
As opined a couple months ago I still wonder if the trendline from the bull market begining through the 1987 high will hold. Since then price has tested this (imo) important trendline again on monthly basis and rsi is at an importnat long term support Who knows ?.....
On another note the dow gold chart posted two yrs ago or so has done exactly as noted at that time, to date at least. What happens next is another thing.
On that note this is kind of interesting.
http://www.youtube.com/watch?v=Tp-eapYpL8c&feature...
I am very leery of a writer that can get something so wrong yet has such a strong platform to speak from. He was bullish on the banks just before the crash.
http://www.financialsense.com/contributors/ryan-pu...
Quote on Jul 21;
"So as summarized from earlier, we can see positive divergence warned of the potential for a reversal. The stocks were oversold near a major demand zone (support) that had supported prices at least two times in the last two years. Prices have rallied to break the downtrend in early July and have recently retested the lows as of Monday, successfully I might add."
I have attached the bkx chart I was looking at during the past year and in particular at that time.It was a very bearish chart.
ps If you click on any authors name you will get their history of articles, very usefull for back checking.
http://www.financialsense.com/contributors/ryan-j-...
You sure deserve a lot of thank you's Bill. The noise of other so called analysts all over the web and media is almost deafening at times. When I see your beige highlighted posts I tune them all out and "listen" to what you have to say. Thanks very much, I have listened recently as always, but done well by acting this time around.
If you go back on 11 yrs of data, you will not find a gap in price for the $Hui basket of unhedged gold stocks index. I forget the reasoning on why this cannot gap. Anyways on friday the index did indeed gap.How can this be?
Hs top was also apparent, fib support and resistence obvious, but hard to see when the focus is on days hrs and minutes. jmo A reversal lower would build a much larger potential for an HS top at the lower black "potential" neckline.