17 replies to this topic

[Yogibear101]

...is that a lower top with near record futures specs and ETF inventory?

[Thomas]

Did you see one of the Algos took a gold ETF to $3400 for a brief moment last week? I did a screen capture, but it is on my other computer.

Here's where it showed up...

See embedded video

[hogleg]

I don't know if it's a double top but 1300 would fulfill the inverse h/s pattern built from first qtr 08 into the end of 09, but imo, if gold goes to 1300 you might as well be long anything but bonds cuzz everything will rise, that's how F'd up these markets are.
weekly chart of gohwld

[Yogibear101]

You know what I like about chart patterns?  

When I see one I can go back in time to a similar pattern in a completely unrelated security and match them.  And I can do it in minutes.  It takes me longer to explain it than it does to do it.  I only looked at two stocks and picked the closest match to make my point.  I could probably line up a hundred or more.

Here's a picture I've named Pattern Recognition.  The current gold weekly, and another resized weekly chart from the period of 2004 to 2007.
I resized it in time scale only to match the peaks.
Price scale is $100 vs. $1 so your dips get deep.



Can you hear me now?  Do you see what I see?

Wait til tomorrow and I'll show you the 2007 thru current chart of that stock.

[Yogibear101]

I'm also playing it like this classic cup and handle pattern....

[bailoutbear]

Yogi,

Some guy over at WSB beat you to the punch:)

http://wallstreetbea...692&post=254372

[Yogibear101]

.....OMG....I better coverbuy on the pre-market open Tuesday.

The difference between me and Viper is: I don't paper trade gold.

[cobben]

Yogibear101, on 04 September 2010 - 10:38 PM, said:

.....OMG....I better coverbuy on the pre-market open Tuesday.

Better to do that on Sunday night, international markets are open all day Monday and will run with the Asian gap up.







© 2010 by Prof. Werner Antweiler, University of British Columbia, Vancouver BC, Canada.
Permission is granted to reproduce the above image provided that the source and copyright are acknowledged.
Time period shown in diagram: 1/Jan/1992 - 3/Sep/2010


And whose yer Big Daddy now?

[bailoutbear]

DZZ looks like the appropriate etf to benefit from a bubble collapse in gold.

[Yogibear101]

...yeah, who is my daddy?  I prefer to look at the ratio chart $GOLD:$USB

http://stockcharts.c...id=p29948004571

I shroted the peak.

[qqqbear]

Buy it? Sellit?
Take a shot at trading it......

Attached Thumbnails

• 

[Yogibear101]

...be careful.

[Yogibear101]

Posted: 05 Sep 2010 09:39 pm        

--------------------------------------------------------------------------------

zerohedge Alan Greenspan personally is advising John Paulson on his Gold Fund holdings, and on future gold price movements
about 1 hour ago via TweetDeck

zerohedge Paulson is officially drinking the Kool Aid
about 1 hour ago via TweetDeck

[cobben]

Yogibear101, on 06 September 2010 - 11:13 AM, said:

Alan Greenspan personally is advising John Paulson on his Gold Fund holdings, and on future gold price movements

Maybe Paulsen is screwed then, but Bob Hoye is not so bad, as a trader that is.


CHARTWORKS - AUG 31, 2010 Gold – Boxed in

" . . .
The ability to hold above $1232 would suggest that this move develops into one of the more extended swings that occur once every fifteen to eighteen months. The height of the recent four month consolidation would provide upside measurements of $1330 to $1350."

[Yogibear101]

Quote

the failed ‘Cup and Handle’

...oh my eyes!  Don't spray any more mace.

[Yogibear101]

....Lemme help him with his Chartwerks.

Fixed it for ya.

[Yogibear101]

....the gold short toad

[cobben]

Yogibear101, on 06 September 2010 - 12:19 PM, said:

Fixed it for ya.

Yes, the Asians missed the signal about the gap up Sunday night, that's fixed now for tonight I believe.