Posted by PeterLBrandt on February 6th, 2012
Peter is a pretty good analyst and is featured on Stock Twits. His link can always be found on the left under the blog list. Queenbee
Whether you are a bull or a bear I can create a good story for you
[Note: I do not have a position in the precious metals -- I could just as likely be long as short in my next Gold trade. I am attempting to present a balanced technical analysis of the Gold charts, not biased by a position.]
I have observed one thing about Gold during the past 35 years — Gold nearly always rings a bell before making a big move. Time and time again I have been too quick fingered and chopped up in Gold by reading too much into the chart and by not patiently allowing the chart to fully mature.
Patience is the name of the game when trading Gold.
The Gold market is perhaps the most reliable market of all in forming a significant and recognizable chart pattern before each major price thrust. Waiting for a fully mature pattern is a waiting game.
There is one other thing about major chart developments in Gold — Gold sets itself up technically to go in either direction when it is time for a big move. And we find the Gold market precisely in this position at the present time. Thus, I will create both the bull and bear chart interpretations for Gold.
Bull
The bull market is very much intact, as shown on the quarterly chart.
On a quarterly basis the market has made higher highs for 13 consecutive quarters. This string remains intact.
Two things are worthy of note on the daily graph. First, the chart displays a possible continuation “W” pattern, requiring a decisive close above the Nov high. Second, the rally from the late Dec low has been steady with a couple of major bursts. This price behavior is characteristic of the dominant trend. The $44 rally on Jan 25 penetrated the trendine from the Sept high. Bursts through important chart points must be considered as important.
http://peterlbrandt.com/the-two-sides-of-the-gold-coin/
World Markets Weekend Review: A Modest Improvement
6 minutes ago
25 comments:
For some reason, maybe it's my browser, but the right side words on each sentence are cut off, looks like it is just the last word in each sentence.
Speaking of life, I have just received the bad news that my cousins wife has passed away, and so I will have to go to the funeral on Friday. She was a very nice lady, with 3 kids and a sick husband now on disability.
Apparently she had major ulcers, which must have been causing her pain for a while, but she ignored it, always worried about every else in the family. She went to the hospital on Monday, and was gone by Tuesday afternoon.
Just shows you, one minute you are there, the next, gone.
So I will be traveling to the funeral , then back here, have to work overtime on Saturday, to top off the week. Won't have time to comment till Sunday probably.
stay safe, GAW. Will keep you and the family in our prayers.
GAW, Amen to what Chicken Little said.
Sorry to hear that, GAW. Let it be a lesson to us all -- we have to take care of OURSELVES, and not ignore warning signs. Pain is NOT a natural thing. If you're dead, you're not much good to anyone else who depends on you, so don't stint on your own health. Especially not in civilized countries like Canada, where illness is not a financial death sentence.
GAW, my sympathies for your and the family's loss.
my bro forwarded a website that may be of financial interest to some in the US. there are more SS options available than myself (and many others) are aware of.
http://socialsecuritysolutions.com/social-security-knowledge-center.html
my hubby and I are close needing the answers to some of the more technical questions regarding SS. I have perused the SS info online and find it quite lacking in specific info regarding my questions.
for those in same sex relationships... Washington state is taking a giant leap forward and currently passing same sex marriage laws. the folks living in the stone age will soon try to overturn this. Marriage may make a HUGE financial difference to some for SS.
Example; highest wage earner applies for SS and then puts it on HOLD while the lower wage earner now collects 1/2 of higher wager earner's and wait to collect higher earner SS at a later date. Anyone here know that here was an option? I sure didn't. But only if you are married....come to Washington state foe a great vacation and marriage.
P.S. mammoth I am so jealous of your early planting schedule, here in eastern Wa we still have a little snow on the (frozen) ground
GAW,
All the best
PS
I've bben laid up with lumbago since monday, hence no commentng
Of course the market will go UP...until it goes DOWN ;-)
I watched a refreshing interview today with someone called Sam Zall (?) He does commercial real estate. Very well spoken and quick on the mark to make his points..especially against the CNBC shills.
Mugabe, hope you are feeling better soon.
Tweeks, at a presentation by my employer's 401K administrater, I learned about this SS option you wrote about. Note to all - it does not matter what state you live in, as SS is on the federal level.
GAW, don't feel singled out. The right side words on each sentence are cut off in my viewer as well.
Probably a Google thingy.
The cut off is a formatting issue on StockTwits that I forgot about. Copy and paste has to be in plain text. It has been corrected and the good thing is I always place the link at the bottom.
GAW a very sobering story indeed. Without health insurance I have no idea when I should and shouldn't seek healthcare. Since losing my helath insurace in March 2011 I have not seen a doctor since.
Mugabe I hope you start feeling better. I have had lots of back pain. Anti-inlamatories, Pain meds and alternating hot and cold seems to help me.
I see the market is doing nothing. So I will read and catch up on sports betting.
I see where we may have a 'new' government 'refinance' plan to bail out homebuyers who bought stuff they couldn't afford...big houses, cars, vacations, tech, etc.
Next will be the bail out of 'student loans' as all students deserve the RIGHT to go to a $50,000 a year college to take classes like 'Learning on YouTube' or 'The Science of Harry Potter'.
My 'think positive' of yesterday has been corrupted. I hate to sound paranoid, but I feel as if there is some evil wind spreading, intent on driving people apart by any and all means. Discussion. Compromise. Calm questions on issues without tags of political correctness, racism, sexism, etc. have been thrown under the bus for network screaming matches, spin doctors, and more and more government control. Now they are going to fly drones of us? Are we seeing 1984 emerging? Is the object to break us? Cause us to become so dependent on government handouts that they can control? Are we Solyant Green in the making?
Is this all an end result from the financial downturn?
Sorry to dampen the party. The market is up. Happy Days Are Here Again...as long as you don't look too closely at what is happening in the world.......
I had been hoping gold might fall a bit. I still have outstanding medical bills to be paid but I'd like to buy a bit more when my next T-note comes due.
I see no sense at this point in staying in government bonds/notes. They are 'borrowing Peter to pay Paul' as the saying goes.
Wonder when someone will announce The (EMPEROR) USA HAS NO CLOTHES? We are Greece, Italy, Spain, etc. And I fail to see the 'brave youngster' to say that to the masses.
Have a good day everyone. I'm off to dispel the gloom with a walk.
I think gold will have to drop a good 60.00 today to call it a dip as it was up 25.00 yesterday. That makes it down only 8.00 so far. Breath in the fresh cool air CL and think of all the good things we have. It's not a traders day. Maybe a time to reflect on our mortality as GAW is or how important our health is like Mugabe. I have a sick cat that is going to the vets today and a DR. appointment with Yvonne so I will be gone until later this afternoon.
Chicken Little, you may get your wish late next month when Greece is expected to finally hit the wall, so be sure to have your fiat ready to convert into Gold or Silver.
Lots of negativity today.
And here at work, I am responsible for a pressure vessel which decided to spring a leak. Got a nice shower of caustic liquor that was around 11 on the pH scale.
I'd rather be gardening right now...
Qb,
Thanks for the advice and thoughts. I'm taking ibuprofen, and have bought some hot patches to put on the back. And staying horixontal most of the time. Have gone from cripple to semi-functional in two days so things are looking up!
I am in between appointments. Damn Mammoth can that be deadly? 81F sunny and the air smells great. Life is good, but I just found out my kitty is a cat. His chart said he was neutered in 2003. I had no idea he was that old. He has a healthy appetite, but is losing weight. This will cost me a couple of hundred dollars. Good thing I sold some PMs.
Mugabe you never know how important it is until you don't have it. I am hoping that eventually Yvonne will be able to walk again. I am very optimistic as she can stand, but needs to be braced against something and she walked 10 feet holding on to the wheelchair and the PT holding her from behind. I got so excited.
Mammoth-hope you managed to shower that off (or scrub down with something to lessen the effects.)
Queen-Have cat tested for diabetes, feline leukemia, or it could be a food allergy or bad teeth. Praying it isn't the leukemia as it puts ALL your cats in danger.
It's very HUMAN to be scared--especially after going through everything Yvonne has gone through. And celebrating each triumph is a good thing (saying in my Martha Stewart voice!)
Making my version of one pot meal tonight. Celery, onion, garlic, bay leaf, beef broth, rice, can of tomatoes and spicy sausage with some Whisitshire sauce and a drop or 2 of hot sauce. Then I add a couple of shrimp and one chicken things cut into bits to 'RICH' it up a bit ;-) Voila! Makes a nice meal and I share with single teacher across the street. Leftovers will be another meal.
Chicken Little, that sounds like a crock!
Yes, I managed to clean myself off with no lasting ill effects. Got some photographs which I might be able to somehow spin into a guest-post here on The Hive.
Good news so far on the cat. Nothing tested positive so they think it could be a thyroid issue that is very treatable. I will have the test results back in a few days. No Feline Leukaemia thank god. It still cost me 200.00, but prorated that is only 10.00/yr and he is well worth it in the love he has given me.
I lit a candle of healing for Mugabe and candle of love for GAW's loss and I keep one burning for CL's husband and Yvonne. The candles are a Buddhist tradition like Christian prayers.
CL sounds yummy I'll be right over for dinner. Mammoth I'll be waiting for that guest post.
Once again the world didn't end today (still waiting for 12/12/12), Europe is still standing and Israel didn't attack Iran.
Add to that that gold was only down 12.50 and I am a happy camper. As for Yvonne they gave her two more cortisone shots in the legs (ouchy) and we'll see what happens from here. Medicare pays it all. God knows what it would have cost me.
If this doesn't work she will get three more injections one per week. Also the mind is coming back. It will never be the same, but one minor miracle at a time is all I ask and to think I could have left her in a nursing home. It wasn't easy, but it sure was worth it.
THati s very good of you, Much appreciated. I'm definitely over the worst (fingers crossed). You should patent those candles!
Any and all prayers welcome at all times. It's funny, every time I hear a siren I pray for the people involved AND the people responding.
Good news about the cat. Vet care is expensive but I'm a HUGE believer in animal/music therapy.
A restful night to all. We're getting just enough snow to be pretty--covering ground but not roads.
Tomorrow I will see if I can be more gloom and doom.
Post a Comment