Thread: Discuss Commodities and Stock Market Indices

Originally Posted by InflationNation;

[QUOTE

It seems free advice can be valuable.

My advice and position regarding gold would be to buy and keep on buying if it drops, I'm buying IAG(USD) and IMG(CAD). I confess I do not know where the USD/CAD will be, nor do I know where the price of gold will be either in the near term, but long term (next year or after the election) I'm fairly sure it will be worth more, unless of course Ron Paul wins, then I would have to reconsider!

I hope anyone planning on buying gold dips is not planning on doing so anytime soon. In a recent post with monthly gold charts attached, I wrote off gold going back to 1800 before the 1400 zone and below. I even managed to negotiate a southern picnic date with the rice girl SkiBunny if the sun suddenly starts to rise in north. To pass time while I anxiously await that day, I will be going on a nature walk to Mars so that I will be able to whet her appetite with rare interesting conversation when I get back. Just in case I don't, I hope my crispy deep fried bones will fall from out of space into her rice bowl for her to fundamentally analyze before passing them over to the autopsy officials who will confirm that I did not forsake my date. Anyone who think I am going on a suicidal journey because like most men, I fear dating intelligent gorgeous ladies, I vehemently detest that notion. Consequently I am prepared to make an even bolder prediction - Gold will not go back to 1700 before it falls below 1463.

InflationNation if you like or wish to buy the dips for profit and not losses, This fool strongly suggest that you do so with the USDCAD pair and stay away from gold if you hate going short. A picture is worth a thousand words so have a look at the five attachments.

Cheers

I shorted gold at 1643, It went up. I shorted it at 1655, it went up. I shorted it at 1658, it is now at 1675. Are you sure it will go to 1463, before 1700? Really sure? That 25 up, v 212 down! I am watching!

p.s I was hedged, so very slightly long overall, as I read what Greg said, but again missed the big gains........

As Reuters are saying:-
"Equities are hovering near three-month lows, while holdings of gold in exchange-traded funds, often seen as a measure of longer-term investment appetite for bullion, held near record highs around 70.3 million ounces.

Gold's correlation with the euro has strengthened to its most positive since the start of the year, meaning that its sensitivity to moves in the single European currency is far greater than it was a month ago.

Spot gold was up 0.9 percent on the day at $1,672.11 an ounce by 1600 GMT, set for a weekly gain of 2.0 percent.

"It's good that gold has bounced back up. I don't expected sustained losses, but neither do I expect sustained gains, because tomorrow you have Chinese GDP data but you also have U.S. inflation and that is going to be closely watched," VTB Capital analyst Andrey Kryuchenkov said."

I just wanted to be quite certain it is going to 1643?

Originally Posted by stryker

was short on time and left this msg on the euro/usd section..
GOLD :: stance changed on gold, if 1641-42 comes in supporting we to head for a 1663 tgt, but risk towards 1675 is on for a 1641-42 hold on gold.

Gold today and charts redone. Pretty much explanation on the chart.
To sum it up immediate resis 1660-61 but decent around 1676-77 for today immediate supp 1645-46 but decent one at around 1635-38 since declining and would matter at a time of impact...

GL..

Well it came and it showed it can do things in a jiffy.. Ladies and Gents:: that's the GOLD for ya all..
However I expect 1680-81 to hold for a correction down possily to 1658 from here.. 4 and 8 hrs have scope to hit one more higher high into around 1679-80 and only 2 hrs suggesting it is done for the high to be in..
Negate any caption and explanation within the charts, as they are from Tuesday...
Anyways.. My misery of a day came to shine out and my slogan is with gold u seldom can be wrong....

GL...

I've been following your explanations very closely over the past 3-4 weeks and you have definitely had an influence on me making me more bearish in the short term (2-3 months), so I'm cautiously taking my long position based on fundamentals and is why I'm afraid to go short under any circumstances. I don't want to go against what I consider fundamentals where numerous sovereign debt defaults are likely with a lot more printing to boot.

Your posts are very persuasive though and I hope you're right because I will still be buying until the next big up rally in 6 months to 2 years time. Also, I'm buying a gold miner stock for the long term because I like the company and think they're a good operator with it's stock very cheap by all measures even at today's price, so buying lower and lower is my objective but I'll keep listening to you and hope you're right as I hedge my bets.

I wish for you to have a lovely date with Miss Bunny this May or June. But be careful on Mars in the meantime, I hear the air is very thin and the sun is very strong there and the nights can be very cold, so be sure to take your lotion, a hat and a jacket, and please send a postcard so we know you're ok.

Update at 1:22pm. Sold my position for $260 gain on 400 shares IAG:NYSE since 2 weeks ago. The stock is in a down trend that hasn't changed so I'll buy after the intermediate down trends and sell into the rallies until I decide not to.

Originally Posted by stryker

Silver is showing a possible move unfolding to the north side towards testing 32.25-30 resis. 30.90ish is coming in as a decent supp . If Silver can get a close on 4 or 8 hrs above 32.30-35 for today, could negate the downside pressure with an upward bias towards 3480-3500 lvl..

OIL :: Nothing changes on it still the main channel is a bull channel with 100.10 as imp supp and within this bull channel it is currently working a Bull Flag testing lower base of it and within this Bull Flag it is currently working a descending wedge.. Hence all indication to the bull drive here and for any reason it does end up falling, it could very well fall hard with all these supporting and OIL not been able to capitalize on it...

GL..

Well they both did as expected.. While Oil could hit into late 105.XX which looks to be the only tgt it should be heading if closing above 102.95...
While Silver if can close higher to 32.35 has a shot to 33.30 for 2moro...

GL..

London session review and outlook April 12 - 2012

I cover the EUR/USD and the rest of the markets I cover during the daily Bulls vs. Bears webinar



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Alejandro Zambrano
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azambrano@fxcm.com

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Originally Posted by byways

I shorted gold at 1643, It went up. I shorted it at 1655, it went up. I shorted it at 1658, it is now at 1675. Are you sure it will go to 1463, before 1700? Really sure? That 25 up, v 212 down! I am watching!

p.s I was hedged, so very slightly long overall, as I read what Greg said, but again missed the big gains........

As Reuters are saying:-
"Equities are hovering near three-month lows, while holdings of gold in exchange-traded funds, often seen as a measure of longer-term investment appetite for bullion, held near record highs around 70.3 million ounces.

Gold's correlation with the euro has strengthened to its most positive since the start of the year, meaning that its sensitivity to moves in the single European currency is far greater than it was a month ago.

Spot gold was up 0.9 percent on the day at $1,672.11 an ounce by 1600 GMT, set for a weekly gain of 2.0 percent.

"It's good that gold has bounced back up. I don't expected sustained losses, but neither do I expect sustained gains, because tomorrow you have Chinese GDP data but you also have U.S. inflation and that is going to be closely watched," VTB Capital analyst Andrey Kryuchenkov said."

I just wanted to be quite certain it is going to 1643?

Hello Byways

I am not only certain gold will fall below 1463, I know it will also visit 1307. There was a time when I use to concern myself with news and economic data bla bla bla, but now I only pay attention to that stuff if I have nothing else to do and which to sharpen my fundamental analytical skills to match SkiBunny's. The unadulterated truth is all in the charts. Zero to nine and ABC is all that you need to know to be able to say without doubt what will happen in any financial market. Even if you were hibernating for 50 years you could still wake up and do the nine steps followed by ABC and figure out what was going to happen next in any market without knowing what a television, radio or news paper look like. As for what is the meaning of Economics you don't need to have a clue. Keep your stop above 1700 be patient and watch gold decline. Gold's first target in this current bearish move will be the recent low at 1612, it break below and find support in the 1570-1560 zone. There will be pullbacks (rallies) but every strong rally will be nothing but another sell opportunity. No serious thought should be given to take a long term bullish position on gold until it break 1307. Even then one should be careful because gold going back to 1044 is not impossible or far-fetched given the massive financial turmoil that will rock this world. I wish I was just trying to scare you but the CD Wave Theory is simple, clear and factual and the Dow and S&P 500 charts are shouting "BIG TROUBLE IS NOT COMING IT IS HERE". Here are two short term gold charts indicating what will happen next. This is not the correct forum but there is a buy opportunity on USDJPY that is just too good for me not to take this opportunity to mention it here just in case I forget or too lazy to upload it in the correct forum.

Cheers

Gold has climbed back above its weekly and monthly and quarterly midpoint. Unless it quickly drops below 1642 this week (which seems unlikely), I think gold might have seen its low for the month.

That said, I will be more than happy for it to follow Natureboy's scenario and have a speedy decline to 1400/500.

Originally Posted by Franosh

Gold has climbed back above its weekly and monthly and quarterly midpoint. Unless it quickly drops below 1642 this week (which seems unlikely), I think gold might have seen its low for the month.

That said, I will be more than happy for it to follow Natureboy's scenario and have a speedy decline to 1400/500.

Need a day close above 1683-84 for a pure bullish view. Else this is where it can fall from ..

GL..

Originally Posted by Nature Boy

Hello Byways

I am not only certain gold will fall below 1463, I know it will also visit 1307. There was a time when I use to concern myself with news and economic data bla bla bla, but now I only pay attention to that stuff if I have nothing else to do and which to sharpen my fundamental analytical skills to match SkiBunny's. The unadulterated truth is all in the charts. Zero to nine and ABC is all that you need to know to be able to say without doubt what will happen in any financial market. Even if you were hibernating for 50 years you could still wake up and do the nine steps followed by ABC and figure out what was going to happen next in any market without knowing what a television, radio or news paper look like. As for what is the meaning of Economics you don't need to have a clue. Keep your stop above 1700 be patient and watch gold decline. Gold's first target in this current bearish move will be the recent low at 1612, it break below and find support in the 1570-1560 zone. There will be pullbacks (rallies) but every strong rally will be nothing but another sell opportunity. No serious thought should be given to take a long term bullish position on gold until it break 1307. Even then one should be careful because gold going back to 1044 is not impossible or far-fetched given the massive financial turmoil that will rock this world. I wish I was just trying to scare you but the CD Wave Theory is simple, clear and factual and the Dow and S&P 500 charts are shouting "BIG TROUBLE IS NOT COMING IT IS HERE". Here are two short term gold charts indicating what will happen next. This is not the correct forum but there is a buy opportunity on USDJPY that is just too good for me not to take this opportunity to mention it here just in case I forget or too lazy to upload it in the correct forum.

Cheers

As I have said before, I doubt the World's leaders, and rioters have studied the CD wave theory, nor the ABC 0-9 notion, in such numbers that they will necessarily oblige. Gold at $1044 is a possibility, but so equally is $2400. If we drop much below $1500 you may be right with the forecast of much larger drops, only if it falls below $1600, the uptrend since 2009 is broken, and the $1500 becomes a prospect. If we exceed 1700, or more so 1800, these large drops seem much less likely.

We have been in a wedge for 8 months, the next 2 should bring clarity.

I would be quite happy to see further drops (I am short now), but feel bullish medium/long term.

One problem, is that IF the ABC 0-9 theory does work consistently in all markets, as soon as all the players in the Market follow it, the market will be so distorted by people following it, it becomes predictable, and thus affected by it and self defeating.

Originally Posted by byways

We have been in a wedge for 8 months, the next 2 should bring clarity.

Is it possible you can show that wedge... Makes it easier at time to judge the momentum of price action and one can gear up for it..

GL...