Goldtent TA Paradise

Gold Short Term Bottom ?

1. neildavis2002 says:

   September 12, 2015 - 1:18 am at 1:18 am

   One thing you notice from this piece is that Dan is purely a technical analyst, with no regard for fundamental economic analysis whatsoever. He is the investor’s equivalent of a man who thinks nothing of an arrow pointed in his direction because he doesn’t notice that it is resting in a drawn bow. Things are so stretched at this point on all sides that it is going to be difficult to get on the boat of your choice once a buy signal is triggered. If there was ever a time to be early rather than late, I think this would be it. His bias against the gold miners is open. He prefers oil companies instead because apparently they don’t have problems with depleting wells, lawsuits, environmental issues, incompetent management, or labor disputes like gold miners do. To that I respond with two words: Deepwater Horizon. Huge debt loads? Oil companies don’t take on huge debt loads? How many oil producing companies have been unable to service their debt in the past year? Remember when Dan used to refer to gold a safe haven. I do. It was during the time period surrounding the top in the gold market.

   • Fullgoldcrown says:

     September 12, 2015 - 9:01 am at 9:01 am

     Neil

     Professional Traders like Dan and Rambus and Matrix can only last in this profession by trsding the charts….not by

     trading the “fundamentals”

     The “Fundamentals” as a sum total are really unknowable…and they are all reflected in the charts

     You have to admit that IF its the Fundamentals that drive commodity producers PM Miners must have the worst

     fundamentals in history

     Look at the XLE : Oil ratio vs the HUI : Gold Ratio

     Oil Producers must be a lot better at managing their produceion than Gold Producers based on that comparison

     DAN STILL REFERS TO GOLD AS A SAFE HAVEN..ALL THE TIME ON HIS SITE….HE RECOMMENDS HAVING SOME PHYS FOR SURE

     Its just that right now nobody wants a safe haven …safe havens are for when the body of the investment world loses

     faith in government . That is coming IMO . But it takes way longer than we think. Just because a few of us goldophiles

     have distrusted government for years doesn’t mean the general population of investors have gotten to that point

     Finally..I don’t believe for a minute that it will be hard to get on board !

     What ? Gold is going to take off one day and be up Hundreds of dollars and keep going ?

     There will be a recognizable bottom as always and one can “get on board” in 1 second with the click of a mouse

2. neildavis2002 says:

   September 12, 2015 - 9:42 am at 9:42 am

   I appreciate your thoughts Fully. Please let us know when that recognizable bottom is forming or has formed so we can back up the truck. I’m getting tired of waiting.

3. kemmrich says:

   September 12, 2015 - 10:55 am at 10:55 am

   Yes, yes … just let us know when the bottom is in!!! That would be super helpful (ha, ha)! Here is the 2008 bottom for the GDX:

   https://dl.dropboxusercontent.com/u/101504714/gdx_2008_bottom.jpg

   • neildavis2002 says:

     September 12, 2015 - 12:08 pm at 12:08 pm

     That chart actually looks kind of bearish, Kemmrich, LOL. Oh well. If we are looking for bottoming patterns, we’ll probably be several hundred percent into a new bull market before one presents itself with any clarity. Hopefully we can all help each other find the bottom in this market with as much accuracy as possible (if there is in fact a bottom to be found). Who knows, maybe gold has become nothing more than a pet rock with about as much value as a pile of sand.

4. Gary says:

   September 12, 2015 - 11:36 am at 11:36 am

   This chart argues there probably isn’t much upside for gold even with no rate hike for 2015. However, we break above the top line and I change my tune:

   http://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=10&mn=6&dy=0&id=p58403483941&a=421094374