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Gary Christenson has some interesting thoughts.

Big Al
October 6, 2014
Comments (17)

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Discussion
17 Comments
    Matthew
    Oct 06, 2014 06:33 AM

    GLD:SLV Island Top?
    http://stockcharts.com/h-sc/ui?s=GLD:SLV&p=D&yr=1&mn=3&dy=0&id=p84791511711&a=370460853

    Matthew
    Oct 06, 2014 06:34 PM

    Volume spikes tend to appear near the end of a trend (uptrend or downtrend).
    http://stockcharts.com/h-sc/ui?s=GDXJ&p=D&yr=0&mn=6&dy=0&id=p02244390688&a=363368270
    There’s a gap between $33.04 and $33.39. The trading in that area should be interesting. Aggressive bears with plenty of conviction are likely to show up.

      genesys
      Oct 06, 2014 06:42 PM

      Matthew, Maybe we will see the fight in those area in a few days or what do you think?… Doc said we need to hold up this week.. and Lawrence mentioned Chinese will get back to work after long holiday on Wed… (although I am not sure if they have any meaningful power into defending it but following trend is more likely?)

        Matthew
        Oct 06, 2014 06:09 PM

        I agree with Doc about this week’s importance. If the gold stocks merely hold up this week, next week will be important, too, in my opinion. It would be great if the HUI could close above the 207-210 area by the 17th. Even if it doesn’t a very good rally is still possible…
        http://stockcharts.com/h-sc/ui?s=$HUI&p=D&yr=0&mn=11&dy=0&id=p65512121756&a=370482078

          genesys
          Oct 06, 2014 06:41 PM

          Just out of curiosity… have you seen this PIMCO Eurodollar fund liquidation? http://www.zerohedge.com/news/2014-10-06/gross-pimco-exit-sparks-record-liquidations-short-end-yield-curve

          QUOTE: asset managers reduced their long eurodollar futures positions by 868,853 contracts in the week to September 30 – the largest one-week change on record. Each contract has a notional value of $1m.

          I wonder if this is the fire power of all seemingly USD manipulation (even though it’s just a trade from a fund). and if so, it could seem most of fire power could already be exhausted.

            Matthew
            Oct 06, 2014 06:31 PM

            Thanks, I was aware of money leaving PIMCO, but I did not know about this liquidation. Under the circumstances, I’m not sure about the implications. Are the actions of these asset managers contrary indicators? Probably, at least short to medium term. Could Bill Gross’s departure provide cover for certain people to dump their holdings without spooking the herd? Could be, but then again, maybe my tinfoil hat just needs an adjustment.

            Matthew
            Oct 06, 2014 06:35 PM

            I think the dollar is finally ready to take a break. After rising 11 weeks in a row and nearly reaching a weekly RSI of 90, I don’t think the odds favor a bull flag forming here, but it’s not out of the question.
            http://stockcharts.com/h-sc/ui?s=$USD&p=W&yr=3&mn=3&dy=0&id=p19017991099&a=370494319

      james
      Oct 07, 2014 07:50 AM

      Matthew, re: your pricing of commodities in terms of gold, do you happen to have a graph of any of them that you could share or are they just calculations?

    genesys
    Oct 06, 2014 06:09 PM

    I sure hope the king dollar take a break too… thanks

    Silverbug Dave
    Oct 09, 2014 09:35 PM

    You see, all the talk of manipulation is so extremely boring and unconvincing. It’s the denial factor for those who are permabulls in a bear market and last haven of bulls who are hanging on until the bottom is reached at whatever lower level it will be reached.
    Silver was $49, it is now $17. That is a bear market. You don’t go from $49 to $17 because of manipulation. Even the GATA fanatics used to say (I don’t hear them saying it now) that manipulation cannot affect the long term trend. The long term trend is down, 3.5 years already in silver for instance. Sure, silver will turn one day, it has to otherwise it is going to go to zero, so an eventual trend change is obvious.
    What is important to investors is whether the trend will turn up at $17 or at $8 for instance!