10/12/2012 Live Update

[Jack12]

Slooooow so very sloooow, next touch on RSI , the I will take the first bite

[fehro]

yellow channel. Should things really start to accelerate to the downside. Highly speculative.

[victorm]

Silver guys here is my two cents on silver

(not updated by no big change)

Silverrr.png

Sl.png

in the yellow is answer to question what is my target JFYI

Thank you, if you have time please look at gold.

[MrMiyagi]

[KeiZai]

Thanks KeiZai and Jeff12!

U are welcome, if u like to trade metals I would strongly recommend u Angela´s charts she is really good I used to wrote with her I hoped for a date...lol

http://stockcharts.com/public/1178409/chartbook

[Cobra]

lunch time, will be back. the pullback isn't strong, so still some chances of one more try on the upside.

[MrMiyagi]

U are welcome, if u like to trade metals I would strongly recommend u Angela´s charts she is really good I used to wrote with her I hoped for a date...lol

Thanks KeiZai, I do look at her charts occasionally. Will look more!

[SigmaEcho]

yellow channel. Should things really start to accelerate to the downside. Highly speculative.

4hr chart. pos div on rsi, macd

[KeiZai]

Silver guys here is my two cents on silver

(not updated by no big change)

Silverrr.png

Sl.png

in the yellow is answer to question what is my target JFYI

Thank you, if you have time please look at gold.

I am not trading gold I have only physical but it´s +- the same as silver even more bullish any bigger correction is a buy until 2000 then gold (and commodities as whole) should drop like u never seen before...seriously...here is one comment on gold by (?) honestly I don´t remember from where it is I just copied it as it intrigued me so I hope nobody will judge me for copyrights and I apologise to the autor

"3 things I want to tell you that I consider important, occuring right now, and that you might not be aware of (since I have not seen it in any of your daily writings). and I am telling you because I am interested in reading what you think about both issues, which I am fairly sure, you will also find of interest.
1st thing is this---I know you are always discussing the importance of similarities in fractal shapes, whether short or long term. and, what I want to point right out now, is the uncanny striking similarities of 2 other important fractal shapes, lasting approx. 13 months each, in both cases (and also occuring from september to october, in both cases)---of the 13 months' fractal of sept.2011-oct.2012, and... the fractal of... sept.1986-oct.1987. so look at them together, they are so similar, you can nearly overlap them, into 1 shape.

second thing is---I have long thought (in practically total opposition to the entire world) that gold is extremely OVERvalued, since I continue to strongly opine, that the world is soon to enter a multi-year phase of massive world DEflation--and NOT what most expect, which a continuation of apparent FED-created fiat-dollar deconstructive devaluations.

however, until recently, I had not been able to find anything, to CHARTwise prove my thesis, of gold's extreme OVER-valuation (and despite the -IMO- utterly insane gold bullishness out there everywhere right now, even down to cabdrivers and shoeshine boys, just like in baruch's time). But now I believe I've found someone that has properly charted this current gold OVER-valuation, and it is in the most logical simplistic manner: gold price/crb index.

I saw a longterm chart a few weeks ago (can't recall the charter, I look at many charts daily), that clearly showed that gold is now at nearly THREE hundred % OVER-valuation of it's normal 30+ yr. range, in relation to it's most directly proper comparable: basic human-living commodities, the crb index.

and what the 31 yr. chart showed was this (chart was started in 1971, year of u.s.a.'s gold-window closing, probably the most defining financial event of the 20th century)---chart showed that for nearly 30 years, the range ratio of price of gold vs the crb index, always stayed between 1.1 and 2.2 (and this INCLUDED the massively INflationary early 70's to early 80's, believe it or not, where it hit 2.2 ratio in 1981's gold spike to $850).

however... when you look at the last 3 years (2010-2012) of this gold/crb charts... what you see is a IMO -hysteric- explosion of gold OVER-valuation, never seen before, in relation of gold price to basic human-living commodities... since over last 3 years, the chart spikes nearly straight up, to reach an incredible 6.0 gold/crb ratio, in 2011 top... (and it isn't much lower now either, around 5.7, if I remember correctly).

therefore, I finally found the chart-PROOF I wanted, about gold price's extreme OVERvalue right now, vs. other tangible REAL goods--- because, if gold price were to just return to it's normal range vs. the crb index over last 31 years, of 1.1 to 2.2---
that would mean that gold right now should be somewhere between $400 and $700 dollars an ounce, believe it or not.

3rd thing is---something else of current consequence---s&p500 insiders are right now selling their shares at a ratio of 40sold per 1bought.
40-1, insiders of big public companies, are selling.
and as the old saying goes, insiders sell for many reasons, but not because they think their stock's price is going higher."

[Jack12]

yellow channel. Should things really start to accelerate to the downside. Highly speculative.

4hr chart. pos div on rsi, macd

Correct it should be visible on all time periods. Most times this indicated that wave 5 is in progress

[KeiZai]

Senor Al chart just4u once u asked me at the "top" if I have one of those fancy charts on Russell with channels, I said u if we get something bearish where are my targets so I just want to say u we are approaching the first one

[TraderGirl]

With all due respect to "Pretzel", I am not sure if his EW counts are correct...it doesn't allow for another low next week, so I have a couple of counts as possibilities...I think that instead of impulsing down, I believe we could be in a double zig zag...??

I am assuming we get new highs somewhere around January before we head down for good...

Edit: One chart give an impulse (5 wave structure) and one give a corrective zig zag structure...I am voting for zig zag...but we will see....

[KeiZai]

With all due respect to "Pretzel", I am not sure if his EW counts are correct...it doesn't allow for another low next week, so I have a couple of counts as possibilities...I think that instead of impulsing down, I believe we could be in a double zig zag...??

I am assuming we get new highs somewhere around January before we head down for good...

u are right TG we are going 50%back from june lows and back up for last wave then back down to 1000 and that´s it : end of the bear market

[Jack12]

U are welcome, if u like to trade metals I would strongly recommend u Angela´s charts she is really good I used to wrote with her I hoped for a date...lol

Thanks KeiZai, I do look at her charts occasionally. Will look more!

Thanks KeiZai, nice article similar to Pretchers view. Gold is like Marmite, you either love it or you hate it, its either 100% or 0% I have not heard anybody say it is at fair value, but if what this fella says is true maybe 60% of all goldmines would close and then the price will really go ballistic

[MrMiyagi]

I guess it was to the downside TraderGirl!

[Al_Dente]

Senor Al chart just4u once u asked me at the "top" if I have one of those fancy charts on Russell with channels, I said u if we get something bearish where are my targets so I just want to say u we are approaching the first one

THANKS Kezai
u watch BMW, no?
http://www.ft.com/intl/cms/s/0/98b832d4 ... z293ZXb15M

[How to access any article if u are not a subscriber: Copy and paste the headline in the search window at news.google.com
Click the search button. It should come up as a clickable article that you can fully read.]

[KeiZai]

1h (done) and 4hcandle (so far) hammer in russell maybe we are done guys closing some trades (for today)

[Cobra]

indeed one more try on the upside. now the tinted area is the key to watch, decisively exceeds the area then the low might already be in for today.

[KeiZai]

U are welcome, if u like to trade metals I would strongly recommend u Angela´s charts she is really good I used to wrote with her I hoped for a date...lol

Thanks KeiZai, I do look at her charts occasionally. Will look more!

Thanks KeiZai, nice article similar to Pretchers view. Gold is like Marmite, you either love it or you hate it, its either 100% or 0% I have not heard anybody say it is at fair value, but if what this fella says is true maybe 60% of all goldmines would close and then the price will really go ballistic

The fun with with gold is that until there are humans gold will rise trust me but I am not actually sure how long the humans will be there We destroyed the Earth so much that there is no way back (sorry 4 too many comments but it´s friday was hard week so I deserve some beers )

[KeiZai]

Senor Al chart just4u once u asked me at the "top" if I have one of those fancy charts on Russell with channels, I said u if we get something bearish where are my targets so I just want to say u we are approaching the first one

THANKS Kezai
u watch BMW, no?
http://www.ft.com/intl/cms/s/0/98b832d4 ... z293ZXb15M

[How to access any article if u are not a subscriber: Copy and paste the headline in the search window at news.google.com
Click the search button. It should come up as a clickable article that you can fully read.]

yeah but not now look at this mess I don´t know how to trade it (except the falling wedge)

Thanks amigo where is btw our BOSS?