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mohsinqureshii

Gold Bullish or Bearish

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Ok it took me exactly 2.7 seconds to spot the 2 problems on your chart.I don't want to get in a war about how to draw a trendline,so i'll draw a discreet veil over that.

 

But I think you may be confused by the words "gold continuation chart".It does not mean it literally.Trading isn't that easy,a veteran like you on a good day would probably know that.I'm making allowances based on your current state...meditation

 

Believe me,if I thought I could move a market my way by meditating i'd do it.Now,that's a news item you wont see on Bloomberg.

Who can you trust these days? It said continuation. :rofl: :rofl: :rofl: maybe you will like one of these lines?.. I can't please everyone you know...

image.thumb.jpg.0a9f218a0abc675b1c7b29ed3ee45ef1.jpg

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Hi SunTrader

No sulking :):):):):):):):):)

Are you long or short?

regards

bobc

Bob come on man. When was the last time you saw me post I'm long.

Maybe if I take a Viagra I'll be long. Until then I'll be waiting for the trend to actually turn.

 

:)

 

Meantime I'll post when there is a reason to post.

 

On another note I did notice Silver starting to act better than Gold.

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Bob come on man. When was the last time you saw me post I'm long.

Maybe if I take a Viagra I'll be long. Until then I'll be waiting for the trend to actually turn.

 

:)

 

Meantime I'll post when there is a reason to post.

 

On another note I did notice Silver starting to act better than Gold.

 

Hi SunTrader,

Patuca can help you with the Viagra.

PM him

regards

bobc

 

PS We turned with Sloop John B

My grand father and me.......

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Is it noughts and crosses?.......... :confused: ....hangman?........is it pick the longest straw? a boat capsizing under a giant wave? is it one of Picasso's working drawings or just a doodle while you were on the phone ordering a pizza?....some left over pieces from some flatpack furniture?

Is it a wjgwam ?...are they Nazca lines?...is it channel 4's new logo?......I give up

please meditate deeply. You will see it. it is the secret indian code..It is sitting bull's tipi on a slope with top of tipi poking out of sky with smoke signals signifying everyone to get ready for a rush to the top side.

 

Please notice the pun..."sitting bull".

 

Patuca

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Thanks Bob for taking time to warn me about which bank not to be a client of,but always found these big institutions too risky to have any money with them.

 

Silver up-move is guided by the same aspects that brought the high in 2011,but it certainly wont take it where it had been taken back then. Pricewise we are 60deg in the next cycle which I had shown earlier,also today US did not follow through with the up-move so we might take a breather here.Asia should now finish the up-swing the close stopped earlier.If it goes up further next target is around 22.20

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Thanks Bob for taking time to warn me about which bank not to be a client of,but always found these big institutions too risky to have any money with them.

 

Silver up-move is guided by the same aspects that brought the high in 2011,but it certainly wont take it where it had been taken back then. Pricewise we are 60deg in the next cycle which I had shown earlier,also today US did not follow through with the up-move so we might take a breather here.Asia should now finish the up-swing the close stopped earlier.If it goes up further next target is around 22.20

 

Hi Silver

Are you referring to planetary aspects or fundamental/technical aspects?

regards

bobc

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Please have look at the 24 hour kitco chart

The green line is NOW

The white arrows show where YESTERDAY, Gold bumpted resistance TWICE

But Asia opened at 1340 and closed at 1340...... no problem.

I thought this was a sign of strength and today Gold would break 1350

 

Then Reuters published the BIG SHOT filings for the second quarter.

Soros sold , Paulson sold half, and Patuca sold :rofl::rofl:

And Gold demand was Down :confused:

 

London fixed price dropped $10 and we are back at 1325 . Orange arrow

 

Siuya says buy the dips

I'm a buyer at 1320

Target 1343

Stop below the low.... my worry.

regards

bobc

 

WARNING.....All sorts of aspects happening from the 17th, which means Monday.

Perhaps stay in cash.

Gold_15-8.png.953584fbb93d7f21a88df8516198bfd0.png

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Mr Bob...

 

Have you been using the ATM STRATEGY in your daily gold training. Please notice the range. Notice the race to the top (albeit on day chart race seems slower:rofl:)...then the race to the bottom...then the race to the top again....now price action is near top of the range. Given that 70% to 80% of breakouts fail what is the next likely move for gold? Answer: a race to the bottom of the range. However, it could breakout out to the upside as sooner or later it will breakout either north or south. If it does breakout say to the north then it might be wise to wait for a confirmation of he breakout...like a second bull bar making higher high and closing higher (outside the range) or a pullback that stays outside the range or at the edge of the range with the north trend resuming after the pullback. Why? The reason is the first breakout bar often gets sucked right back into the range.

 

Simple eh? Works on all time frames..maybe too simple for the slew of indicator people?

 

May be Too many negative vibes for gold to push through the resistance so odds favor a breakout failure. Hence a probable run back to bottom of the range. But, if it were to breakout this time (i can't get Mits to cooperate with positive vibes for gold:haha:) then again, the new strategy is to wait or confirmation before taking a position.

 

THE ATM STRATEGY. Put card in machine ..withdraw cash...wait for the race...put the card in and withdraw more cash.....repeat as often a necessary until a confirmed breakout occurs.

image.thumb.jpg.ab724783e06669dc6d557ccf459214f4.jpg

Edited by Patuca

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and of course everyone and their brother knows about the resistance level at 1350...well maybe everyone.....

 

Hi Patuca

My brother phoned. :(

He askes, what do you mean? :confused:

I dont think everyone knows what will happen if 1350 is broken. :roll eyes:

kind regards

bobc

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I went long several weeks ago right after the bottom. But instead of gold I bought SVM NG and SA. All are doing well. Then the ebook Beyond the Andrews Pitchfork came out. In it he revealed a technique that is used to find strong turns. The only sector that showed up at the time was gold.

I bought SVM because it is a silver stock with a 4% dividend.

 

He has two other books. One called Power trend investing and Roger Babson's Action Reaction technique. Has anyone read them?

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hey capt bob looks gold may be breaking to north. if so just need confirmation. new strategy in place now. if it gets sucked back into the range then back to ATM strategy. i bet you are grinning now. please go to the j. ross thread and post something positive encouraging mr handle...thanks

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Siuya says buy the dips

 

for clarity.....no......

 

Bob - in quoting Ron Burgundy anchorman to Tits Macgee - " you have a dirty whorish mouth" :) (guess whats on the TV in the background?)

 

 

 

I said sell the rallies.....agreeing with Patucca extraordinary as it might seem!

 

If it breaks up (1350 seems a reasonable level) then the strategy is likely to change to start looking at buying dips.....you are just faster than I in changing the strategy if you are buying the dips already.

 

enjoy -

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Hi Siuya

Your post is a trading paradox

I am already long, but have moved my STOP to 1330 , so I dont know for how long.

I want to place a BUY STOP order at 1352 to catch the breakout

And most breakouts fail.

In the mean time I will still trade the dips.

You are selling the rally to 1351 and only buying on dips.

Are you ignoring a possible breakout?

regards

bobc

I wonder which is the best procedure.

 

Gold is now at 1370

I never placed my BUY at 1351

I have decided to commit suicide

To all my friends.....and SunTrader

Goodbye

your friend

bob

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Gold is now at 1370

I never placed my BUY at 1351

I have decided to commit suicide

To all my friends.....and SunTrader

Goodbye

your friend

bob

stop cpt bob! Do not do it. A person can still buy the breakout on any pb tomm. If no pb then with this huge strong bull bar a body can buy the open tomm and place a stop below the breakout... There is still time....big bull bars closing near their highs is another form of confirmation.

 

Ps remember my secret indian code in drawing with the tipi which mits was mocking? Well the sitting bull is now standing up....he may start running soon..

 

Cheers capt bob cheers..tomm is a bright day...

Edited by Patuca

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Warren Buffett:

 

1.“Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. :haha:

..... .

 

From zerohedge:

 

Since 2000, the price of gold has outperformed the price of Berkshire Hathaway stock by over 300%.

But many of BH stockholders never sell. Doubt it is the same for holders of Gold. To the same extent.

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The commodity itself isn’t going to do anything for you….it is an entirely different game to buy a lump of something and hope that somebody else pays you more for that lump two years from now than it is to buy something that you expect to produce income for you over time”.

 

 

I'm almost certain that I remember reading something a couple of years back about Buffet/Berkshire accumulating a physical holding in gold.

 

May just be me mis-remembering though . . .

 

BlueHorseshoe

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Is the BEAR trend over?

 

We've had a trendline break,but the price is still a long way from 1520.....the 200 day MA.

 

Short term we have 17 days UP to the swing high, then 11 days DOWN to the swing low.

We need more than 11 days to the next swing high...... and then Bobs your uncle. ;)

 

In the mean time, theres a TURN date Monday/ Tuesday (Gold Uranus 72 degree)

So Buy for scalp to 1400

But if the market opens down on Monday , wait for the TURN.

No shorts.The trend is UP. :doh:

I cant wait for Monday :missy:

 

Perhaps I should add a bit more on TURNS......... for the workers.

We dont know which way it will TURN

All we know is if the market is up, it will TURN down, and V .V.

So we have an idea of direction. It works 70% of the time.

 

And next Friday there is lots more action.

regards

bobc

 

PS. DOUBLE DOG WARNING (copyright Patuca)

All Index traders be careful next week.

 

PSS. Triple Dog Warning (copright Bob )

The Gold bears (SunTrader ) should review their position. :(:(

 

PSSS.The above should not considered as advice.It is merely the ramblings of a member of Suicides Anonymous.

Gold_with_MA.png.fd05fe212c71d2e6e01ced2bf0c137b4.png

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Warren Buffett:

 

From zerohedge:

 

Since 2000, the price of gold has outperformed the price of Berkshire Hathaway stock by over 300%.

 

 

Guest Post: What Warren Buffett Doesn?t Understand About Investing | Zero Hedge

 

When the gold bulls are starting to compare against Warren Buffett you know there is something screwy going on. I am old enough to remember the last time Buffett was termed a dinosaur - the internet bubble - remember how that ended.

 

- a closer look would reveal that gold has really only had its big outperformance in the last few years - which it should have done given the fear.

- over the long term - lets say compared to when Berkshire started - what has been the comparable compounded returns?

- this is an interesting comparison - Berkshire Hathaway vs. S&P 500 comparison

(has gold returned the same for a $1 investment?)

- if you want to compare arguably the greatest stock market investor to a single instrument, then I am sure there are better single stock returns that might be used to make gold look pretty ordinary.

 

Point is - clutching at straws to reinforce an existing belief is still clutching at straws.

 

(I am neither a fan nor a detractor of gold or Buffett - there is certainly a cult of following for both, but FFS when people compare the two - I would take Buffetts returns over golds any day - as we are constantly reminded that gold simply maintains its purchasing power - right ??? - of is it now the extra claim that gold actually should outperform this as well? Real wealth creation v speculation or maintaining capital. .... weekend rant! :) )

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