Gold Ready For A Nice Rally!

[Harmonica]

just curious.. what would those books be ??

Many of them are ones you've written in your younger days when you were not so stubborn.

But, here then is the first one for Yangpuss -- an ablosute masterpiece, a true classic -- "Reminiscences of a Stock Operator" ..... by Edwin Lefevre.

Read this first ... and change your whole latitude! hehehehe

The best of the best!

[Harmonica]

Yeah, yellow is mellow!   

Fellas, I'm taking profit again!  In the chart below I show the fibonacci retracement levels for the rally.  We are already at 61.8% retracement.  That is the reason I am taking PARTIAL profits.  This does NOT mean we can't go higher. But I'm not related to Abraham, so I take precautions.

If there is a small retracement and then the market shoots up again on LARGE volume, I'll load to the hilt for a few days as it would signal wave 3 of C -- the most powerful segment.  If however, on the retracement, the trendline shown below, gets taken out, I'll be gone in a jiffy with the quickest exit in history.  And then I'll reverse position and go SHORT!

Here I'm updating the actual uptrendline for this mini-rally that started Feb 9th.  The last few days of action point to March 3rd as being the 2nd contact point for the formation of this trendline.  The odds are very high that this is correct as the the bounce from March 3rd has taken out the high of the 1st leg of the rally. 

I therefore feel quite confident that this trendline will offer solid final STOPLOSS options -- and when broken decisively will signal an end to the mini-rally.

We can therefore discard the trendline shown in the previous chart as it only represents the mini-uptrend of the 1st leg up. 

We are in Wave C. 

God, do I love it so! 

>>>>>> I therefore feel quite confident that this trendline will offer solid final STOPLOSS options -- and when broken decisively will signal an end to the mini-rally. <<<<<<<<<

Read the entire quote and then especially, the mini-quote right above this paragraph. Then look in the chart below and see what actually happened when this very same trendline was breached on March 17; 4 trading days ago --- hehehehe

An $8.40 drop in one day! The Philosopher's Stone got me out of the way, hehehehe.

One expert was overheard saying "Gold is the Devil hisself!"

Yeag, she's f*cking them alright; but me, oh no; she loves me!

[~G~]

Yeah, yellow is mellow!    

Fellas, I'm taking profit again!  In the chart below I show the fibonacci retracement levels for the rally.  We are already at 61.8% retracement.  That is the reason I am taking PARTIAL profits.  This does NOT mean we can't go higher. But I'm not related to Abraham, so I take precautions.

If there is a small retracement and then the market shoots up again on LARGE volume, I'll load to the hilt for a few days as it would signal wave 3 of C -- the most powerful segment.  If however, on the retracement, the trendline shown below, gets taken out, I'll be gone in a jiffy with the quickest exit in history.  And then I'll reverse position and go SHORT!

Here I'm updating the actual uptrendline for this mini-rally that started Feb 9th.  The last few days of action point to March 3rd as being the 2nd contact point for the formation of this trendline.  The odds are very high that this is correct as the the bounce from March 3rd has taken out the high of the 1st leg of the rally. 

I therefore feel quite confident that this trendline will offer solid final STOPLOSS options -- and when broken decisively will signal an end to the mini-rally.

We can therefore discard the trendline shown in the previous chart as it only represents the mini-uptrend of the 1st leg up. 

We are in Wave C. 

God, do I love it so!  

<{POST_SNAPBACK}>

>>>>>> I therefore feel quite confident that this trendline will offer solid final STOPLOSS options -- and when broken decisively will signal an end to the mini-rally. <<<<<<<<<

Read the entire quote and then especially, the mini-quote right above this paragraph. Then look in the chart below and see what actually happened when this very same trendline was breached on March 17; 4 trading days ago --- hehehehe

An $8.40 drop in one day! The Philosopher's Stone got me out of the way, hehehehe.

One expert was overheard saying "Gold is the Devil hisself!"

Yeag, she's f*cking them alright; but me, oh no; she loves me!

<{POST_SNAPBACK}>

So did you go for the short?

[Harmonica]

Yeah, yellow is mellow!    

Fellas, I'm taking profit again!  In the chart below I show the fibonacci retracement levels for the rally.  We are already at 61.8% retracement.  That is the reason I am taking PARTIAL profits.  This does NOT mean we can't go higher. But I'm not related to Abraham, so I take precautions.

If there is a small retracement and then the market shoots up again on LARGE volume, I'll load to the hilt for a few days as it would signal wave 3 of C -- the most powerful segment.  If however, on the retracement, the trendline shown below, gets taken out, I'll be gone in a jiffy with the quickest exit in history.  And then I'll reverse position and go SHORT!

Here I'm updating the actual uptrendline for this mini-rally that started Feb 9th.  The last few days of action point to March 3rd as being the 2nd contact point for the formation of this trendline.  The odds are very high that this is correct as the the bounce from March 3rd has taken out the high of the 1st leg of the rally. 

I therefore feel quite confident that this trendline will offer solid final STOPLOSS options -- and when broken decisively will signal an end to the mini-rally.

We can therefore discard the trendline shown in the previous chart as it only represents the mini-uptrend of the 1st leg up. 

We are in Wave C. 

God, do I love it so!  

>>>>>> I therefore feel quite confident that this trendline will offer solid final STOPLOSS options -- and when broken decisively will signal an end to the mini-rally. <<<<<<<<<

Read the entire quote and then especially, the mini-quote right above this paragraph. Then look in the chart below and see what actually happened when this very same trendline was breached on March 17; 4 trading days ago --- hehehehe

An $8.40 drop in one day! The Philosopher's Stone got me out of the way, hehehehe.

One expert was overheard saying "Gold is the Devil hisself!"

Yeag, she's f*cking them alright; but me, oh no; she loves me!

So did you go for the short?

No! Not because I didn't want to, though. I had planned to and was waiting. Simply put, I hesitated, fumbled & dropped the ball -- and lost the opportunity to cash in on that $8.40 drop in one day.

I've placed a red arrow right next to March 18 (the green candle) in the chart below where I fumbled.

It will serve as a reminder.

[Maka]

So whats happening here?

1.00 XAU

Gold Ounces = 425.900 USD

Stop and turn ^ at the "green line" or continue in this direction?

[Harmonica]

So whats happening here?

1.00 XAU

Gold Ounces    =    425.900 USD

Stop and turn ^ at the "green line" or continue in this direction?

I'm watching the decline -- no signs yet of a reversal or that there will even be one.

I have gotten over my personal disgust at missing this wonderful SHORT. Dropped the ball, as I stated earlier!

But looking a short distance ahead, I see the 200-day Moving Average @ approx. 423. This support is what fired Gold off to the rally we saw starting on Feb 9. Can it do the same or is it's elasticity spent?

Gold's got me in the dark at the moment; my head is sore, my feet ache and my hands are cold -- I see only one set of footprints in the dim light of my flashlight; but they ain't mine!

She's carrying me thru' this treacherous underground fortress -- and will whisper to me when my feet are strong again!

[Harmonica]

So whats happening here?

1.00 XAU

Gold Ounces     =     425.900 USD

Stop and turn ^ at the "green line" or continue in this direction?

I'm watching the decline -- no signs yet of a reversal or that there will even be one.

I have gotten over my personal disgust at missing this wonderful SHORT. Dropped the ball, as I stated earlier!

But looking a short distance ahead, I see the 200-day Moving Average @ approx. 423. This support is what fired Gold off to the rally we saw starting on Feb 9. Can it do the same or is it's elasticity spent?

Gold's got me in the dark at the moment; my head is sore, my feet ache and my hands are cold -- I see only one set of footprints in the dim light of my flashlight; but they ain't mine!

She's carrying me thru' this treacherous underground fortress -- and will whisper to me when my feet are strong again!

But now I think I see the silver lining in the clouds -- and the Philosopher's Stone over the weekend suggests that I've got to get back to my job of turning Lead into Gold!

So here's the deal:

She's (Gold) back @ 200-day just as I suggested in the prev. post(s).

Unbeknownst to the cats who are perenially making noise on CNBC, her nemesis, the US Dollar is on the threshold of initiating a Correction to shallower waters.

Is she going to give me the perfect hedge again as the Dollar goes down?

Therefore I state:

Be on high ALERT for a GOLD rally! Strong odds that she will retest & re-attempt $450! Could be anytime, but cannot specify time!

If however the 200-day fails, there will be no rally, or at best, it is postponed!

Nothing is certain; except that the day will end and there will be a winner! (Maka will recognize this!)

But it pays to be ready and on high alert for entry LONG !

[Harmonica]

So whats happening here?

1.00 XAU

Gold Ounces     =     425.900 USD

Stop and turn ^ at the "green line" or continue in this direction?

I'm watching the decline -- no signs yet of a reversal or that there will even be one.

I have gotten over my personal disgust at missing this wonderful SHORT. Dropped the ball, as I stated earlier!

But looking a short distance ahead, I see the 200-day Moving Average @ approx. 423. This support is what fired Gold off to the rally we saw starting on Feb 9. Can it do the same or is it's elasticity spent?

Gold's got me in the dark at the moment; my head is sore, my feet ache and my hands are cold -- I see only one set of footprints in the dim light of my flashlight; but they ain't mine!

She's carrying me thru' this treacherous underground fortress -- and will whisper to me when my feet are strong again!

But now I think I see the silver lining in the clouds -- and the Philosopher's Stone over the weekend suggests that I've got to get back to my job of turning Lead into Gold!

So here's the deal:

She's (Gold) back @ 200-day just as I suggested in the prev. post(s).

Unbeknownst to the cats who are perenially making noise on CNBC, her nemesis, the US Dollar is on the threshold of initiating a Correction to shallower waters.

Is she going to give me the perfect hedge again as the Dollar goes down?

Therefore I state:

Be on high ALERT for a GOLD rally! Strong odds that she will retest & re-attempt $450! Could be anytime, but cannot specify time!

If however the 200-day fails, there will be no rally, or at best, it is postponed!

Nothing is certain; except that the day will end and there will be a winner! (Maka will recognize this!)

But it pays to be ready and on high alert for entry LONG !

Does it get any better than this? She did retest $450 and has gone past it to $470+.

But here's the deal:

No more talk about rallies . Now we start talking about going SHORT!

If she and her ex, the USD still hate each other, it will provide me with a perfect play. As you already know, I've been LONG the US Dollar since November-December last year. I've remained in the Dollar thru' the entire correction that started on July 8th, this year.

Now, as I'm waiting for the dollar to confirm that he is going to continue and take out previous HIGHS, wouldn't it be perfect to get a twofer?

That means LONG Dollar, SHORT Gold for the analysis of just one item.

Less work, more money, more people hating me; it can't get any better than that!

Don't pull the trigger just yet! Just wait! I'm not SHORT yet!

[jaidam]

Better luck this time.I hope it works better than the short on crude oil down to $10 did .

[Harmonica]

Better luck this time.I hope it works better than the short on crude oil down to $10 did .

If you're laughing at yourself, let me join in the mirth.

Crude Oil gave up $9 in a few days -- that's 15% of the total distance to my $10 call. That's pretty good going for a few days. At that rate it could go to minus $10 in a year.

You've already given up $9, soon you'll give up more and then in a short period of time, you'll have given up your entire gains that took you 2 years to acquire; and me just 28 days to take from you -- -- always the same story with you fundamentalists; just can't keep your pants up despite wearing both a belt and suspenders.

Go SHORT dummy; learn to go against your own kind!

[Harmonica]

So whats happening here?

1.00 XAU

Gold Ounces     =     425.900 USD

Stop and turn ^ at the "green line" or continue in this direction?

I'm watching the decline -- no signs yet of a reversal or that there will even be one.

I have gotten over my personal disgust at missing this wonderful SHORT. Dropped the ball, as I stated earlier!

But looking a short distance ahead, I see the 200-day Moving Average @ approx. 423. This support is what fired Gold off to the rally we saw starting on Feb 9. Can it do the same or is it's elasticity spent?

Gold's got me in the dark at the moment; my head is sore, my feet ache and my hands are cold -- I see only one set of footprints in the dim light of my flashlight; but they ain't mine!

She's carrying me thru' this treacherous underground fortress -- and will whisper to me when my feet are strong again!

But now I think I see the silver lining in the clouds -- and the Philosopher's Stone over the weekend suggests that I've got to get back to my job of turning Lead into Gold!

So here's the deal:

She's (Gold) back @ 200-day just as I suggested in the prev. post(s).

Unbeknownst to the cats who are perenially making noise on CNBC, her nemesis, the US Dollar is on the threshold of initiating a Correction to shallower waters.

Is she going to give me the perfect hedge again as the Dollar goes down?

Therefore I state:

Be on high ALERT for a GOLD rally! Strong odds that she will retest & re-attempt $450! Could be anytime, but cannot specify time!

If however the 200-day fails, there will be no rally, or at best, it is postponed!

Nothing is certain; except that the day will end and there will be a winner! (Maka will recognize this!)

But it pays to be ready and on high alert for entry LONG !

Does it get any better than this? She did retest $450 and has gone past it to $470+.

But here's the deal:

No more talk about rallies . Now we start talking about going SHORT!

If she and her ex, the USD still hate each other, it will provide me with a perfect play. As you already know, I've been LONG the US Dollar since November-December last year. I've remained in the Dollar thru' the entire correction that started on July 8th, this year.

Now, as I'm waiting for the dollar to confirm that he is going to continue and take out previous HIGHS, wouldn't it be perfect to get a twofer?

That means LONG Dollar, SHORT Gold for the analysis of just one item.

Less work, more money, more people hating me; it can't get any better than that!

Don't pull the trigger just yet! Just wait! I'm not SHORT yet!

OK, I've got 3 SHORTS for starters, not large numbers, mostly feelers because there is a large MACD support closeby.

I'm planning to keep these positions for a while and add more only when I see that support is failing. Since I'm expecting Gold to have either registered a top or in the process of doing so, I might have to endure a drawdown if necessary.

The move is therefore underway -- for me anyway!

Adios.

[LivinLOS]

What price shorts ?? 462.70 as I type...

Gold 500 before Song Gran I would think..

[simcity]

for some of us to have gold are a bit different as you US guys , the dollars go up , generally the gold go down , but for me it stay the same .

it need to lose 13 % before i call a lost ! 8 months holding !

Gold are like the extra pair of unused shirt or socks you have in your draw!

nice to know it is here !

but keep posting i enjoy it !

rire jaune

[Harmonica]

for some of us to have gold are a bit different as you US guys , the dollars go up , generally the gold go down , but for me it stay the same .

it need to lose 13 % before i call a lost !  8 months holding !

Gold are like the extra pair of unused shirt or socks you have in your draw!

nice to know it is here !

but keep posting i enjoy it !

rire jaune

Gold and the Dollar have been doing strange things recently -- I've noticed several days where they moved together.

This will keep fundamentalists busy figuring out the whys and wherefores. I won't mention any names.

If they move together long-term, that will take some steam out of my twofer.

But the night is still young; after being in Divorce Court for a 1,000 years it is unlikely Gold and Dollar are lovey-dovey again. Just one argument and it will be back to biz as usual.

[Harmonica]

Better luck this time.I hope it works better than the short on crude oil down to $10 did .

Lord, should I be merciful with this dummy?

Crude below $60 today, etc., etc.,

[LivinLOS]

And what value was your initial short call ?? mid March IIRC..

I called a 70 USD oil this year.. What did we hit ??

10 USD oil.. 250 gold.. deflation.. superb comedy..

[Harmonica]

And what value was your initial short call ?? mid March IIRC..

I called a 70 USD oil this year.. What did we hit ??

10 USD oil.. 250 gold.. deflation.. superb comedy..

Hey ######, deal with your whopping losses like a man instead of taking these stupid, incessant potshots at me. I'm not responsible for your stupidity and the towering torrents of rubbish you spewed out in your predictions on the US Dollar. You have singlehandedly taken stupidity to a new plateau. And, I'm not your daddy.

Now get the &lt;deleted&gt; out of my face!

[Dickie_Doo]

A 'Harmonica' is another name for a 'Mouth Organ'.