Gold – the final bubble, page-3686

Johnny all I see from your chart is a stop sweeping from that Shanghai selloff a few weeks ago as the final dip by the smart money to load up first. My wedge pattern that I saw is still valid although the edges are rather rough. I was surprised it took so many weeks of build up at the base but I was not a punting trader. I was watching the resistance like s hawk at the key resistance for weakness to short subject to my personal setup. I didn't see any so by yesterday that spike through was solid enough for me to start buying gold stocks again. Raided some NST and SAR. I have to admit I am buying SAR slightly blind as I have not done my homework besides little or no debt on their BS.

The noises from the Bulls and bears are really noisy and as one listen to shemitah prophesy to a good buying opportunities in divvy paper. No idea which camp is correct but momentum is favoring stock collapse as investors are profit taking on such a big capital gain so far even if we just roll back 2 years.

Interesting times ahead. Volatility in August is a new phenomena globally. Fx market is on fire and not so long ago I would have taken a break on this month's dozy price action. Yes I was caught slightly on financial stock exposure but I didnot go crazy in any sector. In fact my gold exposure is over balanced so I am taking anything for granted.

Wonder if bhp rio will start testing the GFC lows. I note that crude was almost resting on the pivot level I had drawn from 2009 low. Should that break we have a psy 3 in front and then we know global growth is in trouble. This is not about over capacity but a lack of demand expansion.