Thread: Discuss Commodities and Stock Market Indices

Originally Posted by SkiBunny

You keep chasing this stuff, with higher & higher buy targets but never getting any. TA is not helpful in this environment (ie., manipulated markets, crises of confidence and sovereign debt).

JPM and Fed launched another silver attack on Monday. Compare the chart for Comex Silver (which trades paper silver) and the chart of bonafide silver metal like PSLV. Comex silver dumped this morning while PSLV kept rising through it. After the morning attack, they traded in parallel up and down.

One might guess they have drawn the battle line for gold at $2000.

im still on the side lines but would love to short it for the corrective move,,,,, watchin stocks usa to bounce higher in elevance to gold then dropping....Also a lot of reports banding around about silver this week for s big leg up and calls for investors to take there profits at the highs of gold and place it in silver.....

Originally Posted by cw1

Also a lot of reports banding around about silver this week for s big leg up and calls for investors to take there profits at the highs of gold and place it in silver.....

Yes some of the rich, smart money close to the metals market have certainly done that already. Maybe too early, considering how gold kept running - I imagine it surprised almost everyone on the upside.

Good luck!

Originally Posted by cw1

im still on the side lines but would love to short it for the corrective move,,,,,

Well I have expected ~1680 for the correction (which may seem ambitious if gold convincingly takes out 2000 this upswing) ...

Originally Posted by SkiBunny

Hard to believe that 2000 could be surpassed soon but who knows. I imagine 1680 is quite doable

For silver, I moved siupport up from 39.5 to 42 . Still looking to close above resistance at 44 to run to 49+

Noticed that PM stocks outperformed G&S today by 2X

The G&S story in charts per Jim Willie...

Originally Posted by SkiBunny

Well I have expected ~1680 for the correction (which may seem ambitious if gold convincingly takes out 2000 this upswing) ...

..

Aha that is where the GAP is......I too have always had the correction to this level but for now the 1840 appears possible in todays move IF STOCKs hold up - interesting to see
Some EW folk have said this is the 5th wave up of 5 and now it should start its descent

i shorted this at 1910
the next support or 'low' of significance is 1857/60 areas the last higher low....If it breaks through there then i believe a correction has started or indeed 5 waves down to which i shall track lower highs
This is far too over bought IMO. 1680 sounds ambitious yes but agai thatis where the gap was, also it now feels miles aways ...lol, however remember the big sell off corrective move a while back...200 pips seems achievable.......would love to see an EW count on here

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Originally Posted by cw1

Aha that is where the GAP is......I too have always had the correction to this level but for now the 1840 appears possible in todays move IF STOCKs hold up - interesting to see
Some EW folk have said this is the 5th wave up of 5 and now it should start its descent

i shorted this at 1910
the next support or 'low' of significance is 1857/60 areas the last higher low....If it breaks through there then i believe a correction has started or indeed 5 waves down to which i shall track lower highs
This is far too over bought IMO. 1680 sounds ambitious yes but agai thatis where the gap was, also it now feels miles aways ...lol, however remember the big sell off corrective move a while back...200 pips seems achievable.......would love to see an EW count on here

here you go buddy:

perfect 3 1.6 times 1

expecting
1745
2013
1745
in that order

It is enough for GOLD ! we have to enter a big correction ASAP! or there is smthing crazy !
And dont forget ... A new QE3 will take GOLD to 2100$ in the 1st 2 days !
just wait for friday :/

Originally Posted by cw1

Aha that is where the GAP is......I too have always had the correction to this level but for now the 1840 appears possible in todays move IF STOCKs hold up - interesting to see
Some EW folk have said this is the 5th wave up of 5 and now it should start its descent

Originally Posted by skinnypuppy

expecting
1745
2013
1745
in that order

I have seen different wave counts around so they confuse me.

I know that every retracement on the daily over the past year has been under $100 before rallying to new highs.

Must close a day below 1798 to break the pattern.

Originally Posted by georgiodaher

HERE WE HAVE SOME MAY BE SILVER ELIOT WAVES

I like your upward channel . Support is extremely strong in 40-42 range and I doubt it can fall below that again.

Silver closed around 42 both at Comex and after-hours electronic trading Tuesday.

I bought more at 41.75 and think maybe I should have been more aggressive.

Almost 50 pages long but it connects the dots:

HAT TRICK LETTER - Precious Metals & Currencies Report | August 2011


I am going away vacationing, incommunicado where man and beast and wireless fear to tread. Yes it is dangerous, but so are gold & silver you fickle fools! My positions are in, my stops & limits are set, the game is afoot, may the best woman win!

Ta-ta, my fans! hehe

^ ^
xau buy limits at 1680 and 1628 (more at 1538 – wishful thinking – my last gold buy)
xag buy limits at 40.08 and 39.08 (more at 37 and 33 – wishful thinking – some prior xag buys)

No shorts and no stop losses on these (no margin) ... these are long-term trades, not short-term trades of futures contracts on margin.
Maybe not a good idea to trade xau/xag futures on margin til Friday unless you are a gambler? haha

Last time I went away, none of my order limits got hit, sigh. Good luck, all.