tag:blogger.com,1999:blog-1708908742323002823.post6265678857515227739..comments2024-02-10T02:18:27.240-08:00Comments on Trader Dan's Market Views: Gold Chart updatedTrader Danhttp://www.blogger.com/profile/05484363461047659198noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-1708908742323002823.post-77875886263248052112012-08-03T09:57:24.397-07:002012-08-03T09:57:24.397-07:00There is too much advertising by less-than-upstand...There is too much advertising by less-than-upstanding gold-related resellers. This turns off many investors, especially when they figure out that they cannot make a profit on those 'special deals' unless gold moves up by well over $50/oz.<br />On top of that, the mining stocks are totally without upside momentum - so no interest/buzz is there, even though they are undervalued. When I see the mining stocks showing a mid to long term bullish signal again, things should get very interestings. Otherwise, gold is 'dormant' for now.rezublerhttps://www.blogger.com/profile/12378542272412248761noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-33936344797639548692012-08-03T07:38:35.614-07:002012-08-03T07:38:35.614-07:00Gold has every reason to skyrocket out of this are...Gold has every reason to skyrocket out of this area today. Its been in this trading range for such a very long time. Its a bit hard to understand anymore. Maybe it is waiting for an invitation from the pope. I know there has to be an explanation. But it eludes me at this point.arniehttps://www.blogger.com/profile/17597016551120682781noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-27309751929994454032012-08-01T21:49:31.715-07:002012-08-01T21:49:31.715-07:00While the PM prices stay in this range, I can'...While the PM prices stay in this range, I can't help but see it as an extended opportunity to add to my physical position. And I saw today as a missed opportunity for the central planners, who must have been hoping that the "disappointment" of no immediate QE would drive the metal prices deep into submission. To me, today's action after the big "disappointment" was positive. My questions are 1) Is there a chance that strong hands show up to buy these dips, not just traders strung out on the hope of eventual QE? and 2) Do strong hands who want to take delivery of the physical metal even bother trading on the Comex?Gilhttps://www.blogger.com/profile/16780909602588070681noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-24043839557317570242012-08-01T19:32:31.576-07:002012-08-01T19:32:31.576-07:00As I said here, the Fed did not need to do anythin...As I said <a href="http://www.traderdannorcini.blogspot.com/2012/07/gold-chart-and-comments.html#comment-form" rel="nofollow">here</a>, the Fed did not need to do anything, which is exactly why they announced nothing new today, as I expected. The ball is in the ECB's court. I would expect the ECB to do something, and I could be wrong, but whatever it is might be euro-negative and dollar-positive. On a purchasing power parity level, the euro is overvalued anyway and is due for further downside.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-51412974584309026492012-08-01T18:39:10.032-07:002012-08-01T18:39:10.032-07:00I think I know what quicksand feels like now. Just...I think I know what quicksand feels like now. Just as you think you are getting free of it, it pulls you right back in. Just like it looked like the bearish grip on the metals was giving way, it pulled itself right back into the camp. Only a close over 1680 will mean anything to me anymore. Otherwise is just range bound, for reasons that are really hard to fathom. Like the dollar rally.Even the martians are looking at that and laughing.arniehttps://www.blogger.com/profile/17597016551120682781noreply@blogger.comtag:blogger.com,1999:blog-1708908742323002823.post-80399571738525685952012-08-01T16:18:31.782-07:002012-08-01T16:18:31.782-07:00Hi Dan,
Thanks for the gold chart and commentary....Hi Dan,<br /><br />Thanks for the gold chart and commentary. Do you have any comments regarding silver? <br /><br />ThanksTheGilliomhttps://www.blogger.com/profile/15683076214137118915noreply@blogger.com