2009-05-31

Reprinted: Nixon closes the gold window


Historical moment: Nixon closes the gold window,
and with other words declares bankcrupsy of USA. On top he impose 10% tax on foreign imported goods.

2009-05-29

Gold 4h - channel broken

Channel is broken, there is new channel suggestion. I still think, gold must go down, at least for a while.
Note, that the PM stocks are not on some extraordinary levels, but on levels they were week ago.

Gold 4h

While some "smart" people think gold will go to $200, we see how gold go up and up.
Now the price is at the upper boundary of the channel and gold must decline, else gold will go to parabolic bubble phase :-)

If gold began decline, the lowe two lines, brown and blue are good targets.

It is also possible gold to move between the upper two lines. as it did with previous short term top - couple of days ago.

2009-05-28

Perez-Santalla: Gold To Fall $200/Ounce

I can not see how the gold may fall to $200, but sure it is interesting to listen to such people.
At least I will know who is on the other side of the trade and how he thinks.
http://www.hardassetsinvestor.com/features-and-interviews/1/1578-perez-santalla-gold-to-fall-200ounce.html

Readings

Sterling poised for another collapse?
http://arabianmoney.net/2009/05/28/sterling-poised-for-another-collapse

FDIC Bank Failures: By the Numbers
http://feedproxy.google.com/~r/CalculatedRisk/~3/18BDM8eDnZc/fdic-bank-failures-by-numbers.html

Important Support/Resistance
http://martinmarketreport.blogspot.com/2009/05/important-supportresistance.html

Home sales and inventory both rise
http://themessthatgreenspanmade.blogspot.com/2009/05/home-sales-and-inventory-both-rise.html

Hourly Action In Gold From Trader Dan
http://jsmineset.com/2009/05/27/hourly-action-in-gold-from-trader-dan-123/

John Paulson massively increases his gold position
http://feedproxy.google.com/~r/RealityLenses/~3/wP9u0hzEfLA/john-paulson-massively-increases-his.html
SPDR Gold Trust (GLD): 30.37% of portfolio (position: 1)
Gold Miners ETF (GDX): 6.81% of portfolio (position: 5)
Kinross Gold (KGC): 5.87% of portfolio (position: 6)
Gold Fields (GFI): 2.21% of portfolio (position: 11)

Gold 4h

Looks like there are immediate support in gold, see middle blue line.
Interesting is that this line is *not* on any Fibonaci level.
Now target is up - probably ~ $ 965.10 (not shown), or upper blue line @ $ 970+

2009-05-26

Mother of all Bubbles

Tulip Bulb Mania
http://www.stock-market-crash.net/tulip-mania.htm

Gold 4h and 1h

Gold 1hOn the 1h chart we can see that some time ago gold finally broke the downside (blue line). Now the target could be the brown line, or much better - pink line.

Gold 4hHere channel is unbroken, the price target is ~934.
The brown line is additional target from 6h chart.

2009-05-22

Golf 4h

Chart is not attached, but nothing is changed, even Gold fly to $958.
I still expect a pullback to $945 or even to $929.

Sofia's People

Sofia's People: Canon 5dmk2 25p from Philip Bloom on Vimeo.

Readings

Letter from a Dodge dealer
http://www.jlaforums.com/link.php?url=http%3A%2F%2Fwww.americanthinker.com%2Fblog%2F2009%2F05%2Fletter_from_a_dodge_dealer.html

Gold - Enough w/ the Inverted H&S already
http://biiwii.blogspot.com/2009/05/gold-enough-w-inverted-h-already.html

Thursday Oil Market Round-Up
http://bonddad.blogspot.com/2009/05/thursday-oil-market-round-up_21.html

Fed considered more asset purchases
http://themessthatgreenspanmade.blogspot.com/2009/05/fed-considered-more-asset-purchases.html

Hourly Action In Gold From Trader Dan
http://jsmineset.com/2009/05/21/hourly-action-in-gold-from-trader-dan-120/

Gold shows signs of breaking out above $1,000
http://arabianmoney.net/2009/05/22/gold-shows-signs-of-breaking-out-above-1000/

Gold 4h and 1h

Gold 4hProbably local top was formed. Both short term channel (blue) and very short term channels hit the top to $950. Now the move is most like to be down to $940 (brown) or to $925 (blue)

Gold 1hSame chart but zoomed to 1h.

2009-05-20

Gold charts

Gold 4h may be we will see pullback now. Middle line is good target.

Gold 30m The price may bounce of the top channel border (upper blue line) for a while or if no, will drop to bottom border (lower blue line)

Enough bailouts already!

2009-05-14

2009-05-13

Gold 4h

Today gold fell to ~$918. Currently the channel is "separated" to two different smaller channels, exactly 50% of the "full" channel - see middle blue line.

Gold also made new higher high @ $930.

I am looking to $932 today or tomorrow.

Agriculture, Protein & Fertilizer Conference

Not sure where the link will lead you:
http://audability.com/AudabilityAdmin/Clients/BMO/10688_513200980000AM/lobby.aspx?Event_ID=688

If upper link not work, click below, then click [Webcast] :
http://www.bmocm.com/conferences/agricultureproteinfertilizer2009/default.aspx

Interesting from today:
Monsanto (MON)

Interesting for tomorrow:
PotashCorp (POT)
Minemakers Ltd. - will listen to this just because their name :)

Minefinders Provides 2009 First Quarter Results and Details of Conference Call

http://finance.yahoo.com/news/Minefinders-Provides-2009-iw-15227875.html

The Company has scheduled an investor conference call for 1 p.m. Pacific Time (4 p.m. Eastern Time) on Thursday, May 14, 2009, to discuss its financial and operating results for the first quarter ended March 31, 2009.

Highlights include:
  • Successful commissioning of the Dolores Mine in Mexico, with commercial
    production achieved effective May 1, 2009;
  • First quarter production of 14,169 ounces of gold and 282,429 ounces of silver dore;
  • Commencement of positive cash flow from operations at Dolores in
    February 2009. First quarter proceeds were $16.098 million from the sale of 13,313 ounces of gold at a realized price of $939 per ounce and 273,381 ounces of silver at a realized price of $13.18 per ounce;

    2009-05-07

    PWE

    This I did earlier today.

    Gold 1h

    Here probably gold will go and test the channel again.
    The upper blue line is not clear, because it passtru the yesterday peak.
    What I like here is the series from higher higs and higer lows.

    Ah, Gold

    The wedge of triangle in gold is broken. Price must go to 1200-1600 level next 3 mo.

    Brown line shows good buying level. Note price may not decline that much, because upper blue line may act as support now.

    On Jim Sinclair site they showing level 920 as important. Currently it is broken.

    We will see how it will go from now one.

    Readings

    HUI - Weekly view
    http://feedproxy.google.com/~r/BiiwiicomNotes/~3/KqIMD6Viywg/hui-weekly-view.html

    Are you a trader or investor? HUI
    http://feedproxy.google.com/~r/BiiwiicomNotes/~3/YVp4iZlyuA4/are-you-trader-or-investor-hui.html

    Hourly Action In Gold From Trader Dan
    http://jsmineset.com/2009/05/06/hourly-action-in-gold-from-trader-dan-113/

    Orbitz Down Earnings Got Me Thinking....
    http://bonddad.blogspot.com/2009/05/orbitz-down-earnings-got-me-thinking.html
    Orbitz I believe earning at least $50 per ticket. That's much more than any one online agency, and is close to "off line" agencies and bucketshops. If Orbitz are in trouble, I do not want to think about their competitors...

    Ponzi schemes: simply defined
    http://feedproxy.google.com/~r/LawinfoWeblog/~3/hnr9oXDfJ98/

    2009-05-06

    Tata Motors' Nano demand not enough to ease funding fears

    now it really gets interesting...

    http://www.marketwatch.com/news/story/nano-response-raises-concern-tata/story.aspx?guid=%7BB98F5A1E%2D3D26%2D4030%2D9D15%2D4B77045FB5A2%7D&siteid=yhoof

    A look @ gold

    Gold 4hChannel is up, however price may fall to 885+,
    also note that the peak from 27th.04 ($918) was higher than the peak yesterday ($915).


    Gold 1 dayDaily shows downtrend - blue and violet lines are parallel, even looks like they are not.
    The red line form falling wedge - very bullish figure, but the price may fall to $850 before that.
    Brown line may be support, but it was never tested - it once again go to $850 area.

    Happy St.George's day

    Readings

    USD
    http://feedproxy.google.com/~r/BiiwiicomNotes/~3/mKegsuFbl8g/usd.html

    Gold
    http://feedproxy.google.com/~r/BiiwiicomNotes/~3/EtUTasavjjg/gold.html

    More Losses at GMAC
    http://feedproxy.google.com/~r/CalculatedRisk/~3/VU3PbKL1Su0/more-losses-at-gmac.html

    Insiders Continue to Sell Aggressively Into This Rally
    http://jessescrossroadscafe.blogspot.com/2009/05/insiders-continue-to-sell-aggressively.html
    According to reports corporate insiders continue to sell agrressively into this rally, with sells outweighing buys at levels not seen since the market top in 2007.
    Strange where Jesse knows this from?

    GM details plans to wipe out current shareholders
    http://www.reuters.com/article/businessNews/idUSTRE54471X20090506?feedType=RSS&feedName=businessNews
    via Michael Shedlock