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11-03-2009, 09:08 AM
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Quote:
Originally Posted by apipintime
Hey Spec,
Here is an interesting link to an article on Gold and its correlation to the USD. |
Wow the gentleman who wrote that has either lost his marbles or doesn't have a clue what he is talking about.
Specifically he said these don't exist:
Quote:
First and foremost, you have to have demand that far outstrips supply. Like any commodity in higher demand than supply makes available, you'd obviously see a price reflection.
Secondly, you'd have to have a falling stock market. The old adage is that gold is an inverse asset to currencies, stocks and other assets—so where's the bear market in stocks? Stocks have been up 50 percent-plus this year.
Third, you'd have to have an actual, tangible inflation level, and the threat of much higher inflation on the horizon as well. We don't see that either, which we'll talk about later.
And fourth, you'd need an increase in the price of gold across all major currencies—no exceptions. You can't have Aussie dollars and the South African rand going one way, while the euro and U.S. dollar is going the other.
Those four factors are not satisfied by the current picture in gold—not even remotely. What we really see is a momentum- and index-fund-driven speculative move that started almost on cue on Sept. 1. They've been piling in, hand over fist, with margin positions and futures positions that have now mushroomed to a level that's unreal—historic highs, on the order of 750 tons of long positions. They outnumbered the shorts 9:1 as of the week before last; it has since narrowed to 7:1 [as of Tuesday, Oct. 27]. Still, that's way distorted.
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The guy is smoking some good stuff to state gold in other currencies isn't rising????? Gold in EVERY CURRENCY ON THE PLANET is in a bull market and rising. If anyone actually pulled up a chart of AUD gold, eur gold, jpy gold, one would clearly see a 300-600% rising over the last 10 years. In fact gold in every currency has made an all time high in the last 10 years.
Inflation is raging if you look at pre-clinton calculations.
The stock market is falling...
and his first argument about supply....most gold mines are 30 years old and aging. Supply is falling off a cliff. Demand grow by the day, by definition you only need to look at the comex open interest.
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11-03-2009, 09:10 AM
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Further more, why did the Central Bank of India buy 200 METRIC TONS of gold at $1045/oz OVER TREASURIES??
Funny aint it...the biggest fish are buying gold.
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11-03-2009, 09:21 AM
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Quote:
Originally Posted by mike3gdc
Hey Jayrad,
base on the following count,It cannot go too high as it will overlaps the Wave 1.
char result! 
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Good call on this one Mike, I sold at 1.634 just beneath that line, and shorted from there. I expect price will plummet if 1.626 is broken and which will be great for my EUR/GBP long positions as well |
11-03-2009, 09:37 AM
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cable
Quote:
Originally Posted by Jayrad
Good call on this one Mike, I sold at 1.634 just beneath that line, and shorted from there. I expect price will plummet if 1.626 is broken and which will be great for my EUR/GBP long positions as well |
not that good mate! on my count,wave 4 overlaped wave 1! and now I am focusing on possibily for an Ending Diagonal.
ps:you know where you said irregular flat is forming? it seems the affair is more like abc ,wondering a triangle is unfoldong |
11-03-2009, 09:44 AM
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EUR GBP
We may have a possible Leading Diagonal forming on EURGBP:
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11-03-2009, 10:02 AM
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GBPCHF
Guys,mind this little babe! barely ripe!!! 
Last edited by mike3gdc; 11-03-2009 at 10:11 AM..
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11-03-2009, 10:49 AM
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USDX will be dragged down by Gold. The not a snowballs chance in hell USD rallies.
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11-03-2009, 11:00 AM
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Quote:
Originally Posted by speculator84
USDX will be dragged down by Gold. The not a snowballs chance in hell USD rallies.
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And so you've been saying. |
11-03-2009, 11:12 AM
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rally
 LOL 
Quote:
Originally Posted by speculator84
USDX will be dragged down by Gold. The not a snowballs chance in hell USD rallies.
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11-03-2009, 11:17 AM
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Gold Update
Quote:
Originally Posted by speculator84
USDX will be dragged down by Gold. The not a snowballs chance in hell USD rallies.
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But how far goes up? EW Speaking,you have not mentioned that.would you mind if you show your gold enthusiam on a daily chart?cheers
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11-03-2009, 11:27 AM
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Gold
Quote:
Originally Posted by mike3gdc
But how far goes up? EW Speaking,you have not mentioned that.would you mind if you show your gold enthusiam on a daily chart?cheers
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Hey Mike,
In order for the expanded flat scenario(Weekly Chart) to be valid, your A wave would have to be a 3 wave move. Expanded flats take the form of a 3-3-5. What type of structure are you trying to depict with that A wave(Weekly Chart)? |
11-03-2009, 11:49 AM
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Gold Update
Quote:
Originally Posted by apipintime
Hey Mike,
In order for the expanded flat scenario(Weekly Chart) to be valid, your A wave would have to be a 3 wave move. Expanded flats take the form of a 3-3-5. What type of structure are you trying to depict with that A wave(Weekly Chart)?
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Very good question! lol...I didnt notice that.let me think over it. |
11-03-2009, 11:51 AM
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Quote:
Originally Posted by American Trader
The bullish dollar case continues to track well as the waves unfold. Today's bottom and reversal from last night left a 3 wave drop in the USD/CHF, and the resultant rally is in a clear 5 waves (see attached 20 minute chart showing the i-ii-iii-iv-v rally). This could be the launching pad for wave (iii) of 3 as you can see from my hourly count in the attached chart.
I continue to be an aggressive dollar bull at this point. The profit potential in the coming months is astounding compared to the minimal risk involved.
American-T
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The dollar rallied as I suggested it would last night (see attached post from then) and could be in a wave (iii) of 3 which means a strong acceleration of the uptrend. Although there is much much higher potential for the dollar rally, risk averse bulls can place full or partial stops to lock in profits just beneath the wave (ii) low at 1.0164. This should lock in about a 100 pip profit from when I originally suggesting to start getting long.
The dollar is very bullish for the foreseeable future in my view.
American-T
Elliott Wave Principle: Stock Market and Forex Analysis |
11-03-2009, 11:53 AM
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EURGBP
There may be some danger for EURGBP BULLS
Quote:
Originally Posted by apipintime
We may have a possible Leading Diagonal forming on EURGBP:
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