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Registered User
Joined: 6/15/2008
Posts: 58
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Hello again,
Yes , as I mentioned on Jan 23, I was looking for short term top in the Golds by Jan 28 ! A mini top occured the next trading day on Jan 26.
Some of the Gold stks came down 25% to 61.8% in 2 days ! Gold is very strong right now and this is NOT the pullback that I am looking for, if you look at the weekly charts on the majors ( Gold ) you can see that most closed yesterday with bearish reversal candles and stoch is overbought. Yes, we can still move up but this will be a GREAT SHORTING window when this rally is over with !
Take NEM for ex: since the Jan 15 low it has rallied some 33%, AEM some 35%, ABX some 32%. All I know is that I will be ready when that happens and will gladly ride them down.
As for the DOW on Tues, I mentioned ( blog ) that I was looking for 8357 + or - 50 pts = 8407. Also mentioned that the nest turning point was due by Jan 29.
On Wed the DOW hit 8406 and turned around for a 444 pt drop over the next 2 days.
As for the OIH ( oil sector ) since the low on Jan 20 at 67.91 I had a target of 83.79, before we turn around on Jan 28 OIH hit 83.20.
If any are interested my giving the names of companies and price entry levels as well are where I see them going after entries, let me know and when these occur I will post them.
But you must be aware that these will be given FREE of charge, so PAPER TRADE them and see what if ?
That's it for now
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Registered User
Joined: 4/18/2005
Posts: 4,090
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GDX?
I saw this in an up trend with a Bullish candle pattern.
Aslo as it apears that Obama is going to move to a strongly Kensian model for economic management we should likely expect soem considerable inflation to come with that move... Thus the long term prognosis of Gold is UP as far as i can tell.
GDX and several gold mines have made inverse head and shoulders and pulled back to support as far as I can tell.
Yes RGLD is on the move and maybee due for a pullb ack but who am I to say when and where a pullback will happen. I now that the trend now in many Gold mines and Gold is up... I see no need fade the trend.
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Registered User
Joined: 9/25/2007
Posts: 1,506
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Personally ...
I am much more interested in the methods behind the predictions ... than I am in the predictions themselves ...
If you're trying to promote some type of "paid service" ... I guess I can understand the dangling carrot in front of the jackass's nose approach ...
But if you're not ... I'd like to see how you come to these conclusions ....
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Registered User
Joined: 4/18/2005
Posts: 4,090
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I'm not promoting any paid services.
I do follow the Market Club blogs and videos because I flirt with trend following but hate teh win loss ratio.. BUT mine is no better for all my fancy patterns and indicators but i'm not in long enough to let my few winners pan out nicely.
Looking at TSV moneystrean and my favorite three moving averages Gold has broken the back of it's down trend. Several other models call it an up trend now. A possible head and shoulders bottom in and such.
I think we may be in for some inflation or the perception that there will be inflation as the New Govt begins spending their way out of a mess that we spent our way into and borrowing to fix a borrowers mess.
Thus Gold and silver may hit new trends. Some services that I dno't pay for but send out the teasers are suggesting gold may go as high as 2K an ounce. I can't say wether or not that will be .. but I think it looks to head higher. I just hate the gappy chart on GLD so I'm watchign a few mines for entry and jut got into GDX.
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Registered User
Joined: 9/25/2007
Posts: 1,506
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Sorry for the confusion Scott ...
I wasn't referring to your post ....
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