SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Stockman Scott's Political Debate Porch
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: crdesign who wrote (1129)7/2/2002 9:24:48 AM
From: Jim Willie CB  Read Replies (1) of 89467
 
a quick comment about gold indexes and charting patterns
sure, the index and major stocks might peruse under MA's
they might even do it for 5-10 day periods typically
but every 3rd or 4th trip down, they stay down longer
like bumping up against resistance three times
then the big guys give up and go elsewhere
the 20MA might hold time after time
but maybe not the 3rd or 4th time
then it penetrates and visits the 50MA
just a thought, since nothing is written in stone
I call it "knocking three times"
if somebody didnt answer the front door after 3rd knock, would you walk away?
I would

by the way, the HUI goldbug index bounced twice off the 50MA
the second bounce was yesterday
now it is facing the 18MA, 30MA flattening out
while the latest peak at 140 was weaker than previous at 150
giving HUI a boost though is the daily stochastix crossover
it is crossing bullish up

strangely now, the other traditional XAU gold index is failing
it offers a failed Head & Shoulder bear pattern
it is now rising to meet the critical neckline
at 75 now, it could easily revisit support a 63-67

with recent large scale BofJapan intervention supported by our USFed, I see some big vulnerability now with golds
the dollar just recovered overnight to 120 yen
I think the dollar might be badly oversold now
its stinky fundamentals justify it, but oversold is oversold
it is 300-500 pts below its 20MA and 50MA (guesses)
I think the big traders allowed the dollar to drop large amounts to stabilize it, and to encourage a bounce

every time I watch AshleyJ, I move bullish up
/ jim
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News