tag:blogger.com,1999:blog-1708908742323002823.post5599273209254208571..comments2024-02-10T02:18:27.240-08:00Comments on Trader Dan's Market Views: Gold loses SupportTrader Danhttp://www.blogger.com/profile/05484363461047659198noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-1708908742323002823.post-80643080776407380872013-02-17T13:16:41.616-08:002013-02-17T13:16:41.616-08:00Power Corrupts; Hi there.
thanks for the comments...Power Corrupts; Hi there.<br /><br />thanks for the comments. I am showing a different reading for the weekly ADX than your data on Stockcharts is yielding.<br /><br />The ADX has been stuck in a meandering motion pattern denoting a range trade but recently has begun turning higher on the weekly chart as well as the daily indicating a trending move is beginning.<br /><br />That does not mean that the market MUST continue to sink lower; it merely means that the intermediate term trend on gold is lower and that rallies are going to be sold unless a clear signal otherwise is generated.<br /><br />This market will need to get back at least above $1640 to give the bulls some wind at their back and above $1660 to spook out some hedge fund shorts.<br /><br />So much depends on the attitude of these hedgies towards the world of equities.<br /><br />Long term trend on gold (MONTHLY time frame) is still higher but even that chart reflects that consolidation between $1800 and $1550 - $1530 on the bottom<br /><br /><br /><br />Trader Danhttps://www.blogger.com/profile/05484363461047659198noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-11586918411521684982013-02-17T12:25:10.649-08:002013-02-17T12:25:10.649-08:00Hi Dan, Probably not useful info for a leveraged ...Hi Dan, Probably not useful info for a leveraged futures trader, but the default 14 period weekly ADX for gold (StockCharts.com) is well below 20 and shows minimal response to the current selloff, and the same ADX parameters for HUI are actually near levels that have occured toward the end of trending moves in that index during the last three years.Power Corruptshttps://www.blogger.com/profile/07546392212300627814noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-78972590974099736172013-02-16T06:12:21.802-08:002013-02-16T06:12:21.802-08:00I've been following Eric's A-B transition ...I've been following Eric's A-B transition and diffusion index, his work also ties in with Egon Von Greyerz stating that the current weakness only had 2 more weeks max to go two weeks ago.Anonymoushttps://www.blogger.com/profile/08567909339559320226noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-28339748774739775852013-02-15T23:29:28.644-08:002013-02-15T23:29:28.644-08:00Let them keep pushing the metals prices down. I wi...Let them keep pushing the metals prices down. I will continue to accumulate. Make the miners suspend exploration and limit production reducing supply. Let the whole mining sector go into maintenance mode, while they further push down metal prices. In the mean time all the fundamental will continue to strengthen, like unsustainable spending and money printing. Then when the bottom occurs prices will rebound to levels in my opinion are that unimaginable also probably destroying the fiat currencies to boot!silverwoodhttps://www.blogger.com/profile/06356548144251479901noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-24457198356971020532013-02-15T17:38:32.561-08:002013-02-15T17:38:32.561-08:00Great gold analysis as usual. Any commentary for u...Great gold analysis as usual. Any commentary for us silver bulls. We took a beating as well. Nothing like 10's of thousands of contracts getting dumped all at once to get the ball rolling.<br /><br />Thanks!Shawnhttps://www.blogger.com/profile/09356811553673243660noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-59060187125090728732013-02-15T17:37:43.848-08:002013-02-15T17:37:43.848-08:00Dan, do you follow the physical market? I understa...Dan, do you follow the physical market? I understand today's action was paper only and unsustainable. <br /><br />Also, do you follow the work of Eric De Groot on the positioning of traders?<br /><br />http://edegrootinsights.blogspot.ca/2013/02/message-clear-but-emotions-make-it.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+EricDeGrootsInsights+%28Eric+De+Groot%27s+Insights%29Anonymoushttps://www.blogger.com/profile/04100131759968093220noreply@blogger.com