New Month - New Thread - Rock On!

Thanks Thor .. thought the "old" one would never end...

Are you still in Indoneisa ? Be safe...

Yeah.. the inflation wave is circling the globe..

Indonesia More Than Doubles Fuel Prices to Head Off Economic Crisis, Sparking Protests and Strikes
http://biz.yahoo.com/ap/051001/indonesia_f...rices.html?.v=2

The Financial sense gold indexes are exapanding to show the Junior Explorers getting more momo

http://www.financialsense.com/metals/fsjg.html

now, if only we knew what stocks were in the index

XAU:

The pattern is mature enough to chart a course for the next few weeks.

Red wave 3 should top out at 116 in an ending Diagonal (rising wedge).

Red wave 4 should retrace to 107, as the most common support is at wave iv of the next lower degree of trend.

As red wave 3 was powerfully extended, don't look for much in wave 5--something above 116 should do it.

IS EVERYONE ENJOYING THE RIDE???!!!

GOOBER UPDATE:

ok goobers - time tuh expresses a lil a muh "irrationanimal exgooberance"

I call this, "70% Dejour!!!!!!!!!" Go Uranium!

Also recoed in April "Aflease Gold & Uranium" merging w/ Southern Cross

ah yes!

Update:

As most Canucks can probably tell you the name of Canada's Cristopher Columbus is John Cabot right down to the changing of his name from its original Italian into a more English spelling. In John's casefrom Giovanni Cabotti. But hey maybe he was more of a dog then a head. But like Cristofo Colombo, Cabotti never made it to the mainland of North America, actually only rediscovered an offshore island (Newfoundland).

Here's muh Spring 05 fav:

uranium you say.....iuc.to/jnn.v/uex.to/stm.v/sxr.to

here are the lesser known ones.....

cxx.v
eso.v
san.v
tue.v
abn.v
ptu.v
dra.v
nag.v
hat.v
fdc.v
cvv.v
ucr.v
rpt.v
thv.v

caveat emptor most of this land is and will remain moose pature.... mind where you tread......woof woof

and:

pssss- hey you, yeah you goober . . . come over chere . . . yah wanna buy summa this?

come on an try some - yeah its goo sheeit allrat!

ok goobs - i'm gonna reco sumpin chere – NOT for widows and orphins or anyone prone to manic behavior runnin back and forth, up and down across the deck.

anjing bau wow -

Here's one I bought last month that is doing very well - I do own quite a bit of it.

OMX.AX - Omegacorp / I see it as another Paladin in the making.

So far nice performance and it's in the EARLY stages - yeayah!

These goobers use a brownfield model / acquire old Uranium mines in Southern Africa and restart them.

No US Exchange ticker but I bought it through Fidelity (International Trade Desk at 800-544-2976)

Description: OMEGACORP LTD SHS ISIN #AU000000OMC5 SEDOL #B016B14.

CUSIP: Q7057Y104
SEDOL: B016B14

Drawback are the high commissions compared with my Scottrade and Ameritrade.

Let me know if anyone buys in.

And don't forget - DO YOUR OWN DILIGENCE!

Goober Out!

Well, you've probably seen the chart I posted on silver... the shakeout down to 6.70 area.. the weekly spring... demand and retest of ice in the 6.90 area and markup...

ok.... here's an example of what I believe is going to happen to silver... yet I'm using the NDX...

http://www.StockSharePublishing.com/ChartL..._1128225032.png

what ... you want the silver chart again....
http://www.StockSharePublishing.com/ChartL..._1128225545.png

Nice Charts Charmin - what stocks are we riding?

Well I have several - highly leveraged AQI.V for one as mentioned in prior post. (Has done very well since I recoed it)

But not convinced that silver will outperform gold here: economic slow down / consumer tapped-out recession / rate hikes coming to an end, etc.

Goober out

looking @tre, wouldnt touch it until 2-2.25, it is still way overbought on a weekly.
bv, your road map is very similar to mine. dharma

I always am pleased when dharma's targets agree with mine. We may go as low as 1.90-2.00 but it is one to own for the long term. Royalty companies are scarce and you can't beat the mgt. of TRE on many fronts.

As we all know anything is possible. However due to the negative divergences I am seeing in the gold indices I think down is the most likely direction for the shorter term. I am still looking for a bottom in the HUI somewhere between 206-219 over the course of the next month or so.

Sold half @ 1.80 .

"Here's muh Spring 05 fav:"


"Sold half @ 1.80 "


plantigrade - nothing wrong with taking profits after a nice move!


for anyone following the XAU 21-month pattern cycle - projects 145-150ish by Decemberish:
goobs

Tech Talk has removed the gold sector from the favoured list:

The period of seasonal strength has ended. The weakest month of the year for gold and gold stocks is the month of October.
Fundamental prospects in the short term are “ problematic”. Third quarter earnings reports by major gold producers generally will record good year-over-year gains, but likely will be lower than consensus due to higher energy and chemical costs.
Momentum indicators (e.g. MACD) for gold, gold indices and big cap gold stocks are overbought and likely will record short term sell signals sometime this week.
http://dvtechtalk.com/October/October3.htm

gold and silver down this morning...

I believe the seasonal trade runs till about October 20th or so. Interestingly most of the data derived for this trade is from the bear market so it may not be valid. I never like to see failed breakouts.

Based on this weekly chart for the POG, being long from October to December over the last few years was a profitable place to be....In 02 it went from $320 to $375, 03 $375 to $425, and 04 went it from $400 to $450. Over 10% every time.

That being said..... I'm out of all positions this morning after putting in tight stops over the weekend that closed many of them for me and I bailed on the few that did not sell down. Weak hands - what can I say.... Looking to get back in soon.

as i have mentioned, mars is now retrograde, which tends to bring corrections in the gold sector. 107 xau is a key area for me, even if it is broken, i expect to see 500 gold by december. will look to add on the bottoming process.
are there tax consequences for a trust? speaking specifically about tre. tia dharma

The path of least resistance is up...

Went APE

PP (and coming MA cross) @ 0.37

BIG NEWS FOR OMC INVESTORS!

Appointment of Deputy Chairman - Brendon Hammond was with Rio Tinto (RTP) among others. Extensive knowledge of Southern African Geology - having been involved with RTP's Rossing Mine in Namibia!

http://www.asx.com.au/asxpdf/20051004/pdf/3sly1nn0ql8dg.pdf

http://www.asx.com.au/asx/research/Company...=on&asxCode=omc

goobs

Not sure I understand the level of bearishness here. Seems like we just (barely) broke above some pretty tough resistance right here. I imagine there is a big cluster between here and 260.

I don't recall October being horrible the last 3 years, seems like gold stocks did pretty well in Q3-4 time period.

I gotta tell ya - i heard that Octber stuff on cnbs and it makes me suspicious. If we're in a "wave 3" the pullback isn't going to be too deep.

I hope.

Silver stocks leverage
thank you Alterego(Gold-Eagle) for this on silver leverage

LEVERAGE OF SILVER MINING COMPANIES
(AlterEgo) Oct 04, 08:19
http://www.abcourt.com/autogere_doc/Silver...age_Abcourt.pdf

MGN seems impressive

OH, FWIW I AM not bearish, after this correction is over i am looking for new highs, then a larger correction. then around 500 in gold. dharma

Old Habits and dharma
IMO this will be a quick and shallow correction. Waiting for that next high at 500. BWTFDIK

getting kinda excited chere about the next upcoming gold move...those with little exposure should be taking adavantage of this weakness to load up...would like to see the Euro hold above 1.1944...so far so goober...barely...need to bounce here.

Looking at the monthly charts of some of the NG stocks, I think it's just beginning. The small companies like TGC, PYR, ENY, BDCO, etc without GOM exposure look good here. They appear to be breaking out, with the 50ma providing RS here.

I see a correction / consolidation, then continued up.

Also the monthly chart of VXENE says accumulate imo.

Do the DD.

Thankyou for that wxman - will give your chart a review. Although my reservations as noted previously, I'm getting excited about silver as well. Currently my positions are MRB MGN GRS WTZ SSRI as well several juniors, BCM, AQI, etc. in that order. Recently I've been accumulating WTZ.

Of interest to gold and silver for the October contract month (a non-delivery month), there has been an unprecedented aprox. 9000 deliveries (900,000 oz) in gold and 300 (1.5M oz) in silver (COMEX has aprox. 2M oz.). Reportedly, Bank of Nova Scotia took all the silver and some of the gold.

Getting interesting.

goober out

Hooey LT Timing Model: Long....Caution Flag is Up.

Model sells on a break of 231.50 ....

MACD turns negative causing caution flag to go up.

Personally I am in cash since the Sept 19 ugly candle and waiting for resolution.

No argument here. If we go into dharma's scenario a bit I'm thinking a move that fools the folks who sold correctly north of here then breaks this last bottom under 232 launches into fifth wave leaving most behind. There is multi decade resistance in Gold 500-505. A 50% retrace of the move 850-250 is 550. These are interesting times. FWIW there is fib resistance around 127 XAU. That might mark the top. The bugz will be gunning for 150. Bagholders. Looking for someplace to go, long. Maybe a couple of weeks? Who knows? 206-219 HUI is this goobs best guess.

Yes I see support at 227,219,212,208,199 and 191.5 from memory. Although I'm not disposed to play them as places to buy but will be watching.

I think you missed one.

Sorry, trying to lay low for a few days...

Thing that comes to mind is... Early October pullback.. HUI 227 confluence..

you probably remember better than me..

with that... I feel like ol gold geezer... I got a few ledge apes hanging around my neck and my head is tired...

ledge apes? Sounds like a Yosemite big wall climber.

XAU:

Classic example of a Bull that tries to buck one off.

At three degrees of trend we are at or completing 4th wave corrections. This results in a sideways and trendless market.

The daily has 3 waves that appear incomplete and without MACD divergence.

It's still a bull market for the miners, I believe.

Correction target is 107. Ultimate target is 127.

Thanks Bearvest

Miners taking it on the chin in Euroland this morning.

Miners drag on London benchmark



http://www.marketwatch.com/news/story.asp?...D&siteid=google

I hope we get a big dip today in the miners..XAU 107 and then it's up up and away!!!
Time to back up the truck...

bearvest, nice charts...

Thanks - hope it works out that way - without the larger correction.

yeah baby!! Scaling back into NEM...
Picked up 1/2 of a position at 45.68..
Picked up PAAS at 17.10...

Looking for a reversal today. Cautiously optimistic that the buck will start to retreat and the rally resumes.

$4 gas by XMAS