GLD range from 72 to 55 and we begin the month right around center stage at 63

Do we just meander now?

GLD
http://www.StockSharePublishing.com/ChartL..._1154395328.png

NXG went one step further.

coal

Is that because coal just had a poor month?

Mclaren's trend take on the metals

"I do believe that 2008 will be a strong year for these metals but I believe we are approaching the time to reap. So a new high in copper can put that metal at risk of completing the bull campaign and a secondary high in Gold could occur 13 or 18 weeks from that last low and terminate its trend until the end of 2007 and set up the 2008 bull year"

http://www.mclarenreport.com.au/yvs500/default.asp?id=779

Also posted this on M2M-

Australian Uranium Plays-

If you have invested in Australian uranium exploration plays and are aware of Australia's "three mine policy" for uranium, then good luck to you.

If you have invested in Australian uranium exploration plays and have never heard of the "three mine policy" for uranium, you might want to go look at it.

Summary- Right now, the probability of getting a permit to mine uranium in any new site/strike in Australia is zero, zilch, nada. Doesn't matter how big the strike is, the yellowcake is staying in the ground, at least until both major political parties here change policy.

GLG--time to come out of the closet.

Metrosexual miner, by Wyndy's definition.

Immaculately groomed and dressed over the past year, but where are its true preferences? We'll know when it breaks out of this potential diamond pattern.

AB - coal stocks soared yesterday, but some of the ones I follow have been weak and are near 52 week lows.

Do you have an opinion on FDG and Dominion Black Warrior trust?

Chop. Chop. again today. Yesterday was nice. Back to reality.

Been watching TIE closely ever since the story came out about the Chairman (Harold Simmons?) buying in the open market, when it was in the mid 30's back in June.

Figure if the Chairman is buying BIG, might be worth watching.

He was buying again last week. Controls over 10Million of the 150Million shares outstanding now, according to the SEC reporting stuff.

Back of the envelope, he's down at least $70million on paper, probably more, just in the last 4-6 weeks.

Now, TIE is red in premarket.

Looking at the charts, I think it might get under $10 before its over.

Not gonna try to catch the TIE falling knife myself, but when it shows sign of putting in a bottom with some breadth, think it might be worth another look.

wow 10 on tie would be a tremendous buy, i think it could get into the low 20s. it goes to show ceos are not that smart!
still think the 4quarter of 6 and 1st quarter of 07 will be great. we are still in the parabolic. 1st we have to get through august-oct which might be tough sledding. dharma
natural gas is looking promising. seasonally this is when the low should be put in.

From my recollection, he was buying at 30, 28 and 26 at those recent lows.

However, it does have a bit of that old GSS feeling to it.

Low volume decoupling/breakout today?

Hope it gains momentum.

Guess I can answer my own pondering - not yet.

Broads still a drag on the miners.

Gonna take some new metal highs I guess.

pearls from livermore http://www.leavittbrothers.com//chartspeak...peak_073006.pdf
dharma

Strong signal today for the bullish case.

Very nice day. HUI rose with gold, didnt fall with the rest of the market. 380s coming this time, thats the target for an ABC move up.

not so sure this is an abc. might just be an impulse. dharma

I agree, it could be. Either scenario is possible right now.

But the ABC takes us to at least 380. So we're goign at least that high.

Lots of disbelief in the move. That's good.

I have a feeling we are absorbing back to the top and in some sooner than others especially if you see higher prices from the July 24 swing low

BGO
http://www.StockSharePublishing.com/ChartL..._1154474373.png

AEM
http://www.StockSharePublishing.com/ChartL..._1154474393.png

AUY
http://www.StockSharePublishing.com/ChartL..._1154474442.png

GLG
http://www.StockSharePublishing.com/ChartL..._1154474473.png

SLW
http://www.StockSharePublishing.com/ChartL..._1154474677.png


I might even believe we are going to 690 gold here

And 13 Dollah Silver. Funky p and f about to give a triple top breakout buy.

Just a day or so I was believing silver was vulnerable - especially when you listen to others and get paranoid.

So far I've been paranoid on SPX at the 1280 level or June 30 high and watching probes over 1276.30

Now I'm paranoid about 690 gold

Maybe I get to celebrate being paranoid in paradise sometime

At least I'm persecuting myself alot lately about price.

This is an easy sector to get paranoid about Charmin, especially if your trading it. It seems to me that the dollar has lost its' momentum, and the Fed pausing isn't going to help old buck.
I'm looking for $800 by year end. I'm not sure how well McLaren understands the fundamentals of the gold market.
Do ya think the merchant banks would bother with the ETF's if there wasn't going to be future demand? I kinda doubt it.

I'm looking at the GLD chart in the 60 area and I have a horizontal line there. Seems there is an area there that caused major reactions.

Guess what - I think we might be able to use that area as a line of defense if the pigmen decide to jerk us around. I'm so paranoid about it I think it just acted like a major area of support with the possibility of retesting 72.

http://www.StockSharePublishing.com/ChartL..._1154483502.png

Also, if we can actually break through the supply line on GLD which is just overhead we might be able to say we're going to the 66 area for a retest.

So, we have a selling climax down to 55, a gap up through the 60 area on June 30 and a retest and possible fill of that gap on July 24 for a swing low.

We have done a 1/2 back retrace and are most likely going to see a battle take place in the 66 area if we proceed there. We're still center stage - anything can happen to move us around.

I'll even suspect we get to 66 by August 8 when Ben Bernanke and Co have to make another decision. It certainly would be nice to see some absorbing higher and no supply show up between now and then.

BTU ACI

you decide, I just point.

FDG? is the entry here a low risk one or a high risk one? Where would you place the stop on your trade. What would be your first target ? 2 nd tgt?

Also, we know the the March 2006 trading range lows must be significant because what followed was new highs. What is interesting is that the shakeout to 60.44 in the uptrend to those new highs of 72 became our July 24 swing low pullback once again.

In the uptrend to new highs just after that shakeout is when SLV opened for business.

So the reaction at 55 held the signifant support from March 2006 and the 66 area reaction could very well be supported by another trench at the 60 area.

66 + to bust

OK ol hound dog - 42 is significant support now
http://www.StockSharePublishing.com/ChartL..._1154486994.png

550 is a very important halfway point. 250-850. Also 180 bucks off the top.

66 by August 8 FOMC day

or paranoid

Think about it, 60 is a shakeout in an uptrend, it's a climactic selling area, and it's a pullback in a potential uptrend to 66 or 72.

I believe the 8 area support on AUY is significant here. The consolidation in March 2006 produced new high territory and we have reacted off that area in June - though the reaction is more absorbing instead of impulsive up. It's building sideways cause.

But I think we should be able to count on 8 as acting as support for any trading range that develops.

http://www.StockSharePublishing.com/ChartL..._1154490985.png

Interesting retest on July 24 on FCX after the selling climax back in June and automatic rally to 58.64 on July 3.

I think we can absorb into that resistive are of 58 or so

http://www.StockSharePublishing.com/ChartL..._1154491353.png

August 8 or bust

or paranoid in paradise

"Paranoid in Paradise" ...hell of a book title you've got there Charmin..

XAU:

The next technical event is the gap from 153.28 to 157.46.

Does it fill and collapse?

Is it gap resistance as it was in mid July?

Or does it jump the creek in a powerful wave 3 up?

The first scenario seems more likely to me. We fill the gap and retreat.

This move off the June lows seems more like a big correction that won't exceed the May highs rather than a powerful 3rd wave up.

I'm a short term bull, but I'm worried about a short-term top in the next 5 to 8 trading days.

Gold and Silver Miners:

The Indices and most gold producers have a-b-c patterns off May highs.

The silver miners have impulsive 5 wave patterns down, except for SSRI.

The oscillators look quite bullish, but price and the price patterns currently stink.

It may take a cycle, where the Golds trace out a "flat" corrective pattern for them to get into synch up.

I don't really know AB, I guess I could put a stop just below the old low. FDG seems like a fairly low risk entry here - earnings were solid.
I just wanted to see if you liked FDG and DOM.

I can't believe how quickly interest rates have fallen below 5%. We'll see if gold and the miners can make it three straight up days. Seems an odd time for a rally, but I'll take it. Luck all.

Hecla reports record earnings.

http://www.marketwatch.com/News/Story/Stor...k=&keyword=gold

Great earnings for a $5 stock. $.40 a share for first half of 06! If that holds up you have a stock trading at 6-7 x's earnings.

I wonder if there is any value there? or if anyone on Wall Street will notice?

Unbelieveable.

PMs now up $6.20 and .21 impressive few days, I agree.

OK - last post and I'll shut up.

Fade him? Timing is impeccable.

http://www.kitco.com/ind/saville/aug012006.html

OK TFH $11.90 silver is here. We find out what the resistance looks like.

GBN some nice drill discoveries in Canadian mine.

The PE ratio for the profitable miners doesn't make a lot of sense.

Makes one wonder if "value investing" philosophy applies to them or if they really just remain a proxy for the physical in the mind of the sheeple.

For example I'm dong some HBM.TO, copper, zinc, gold, silver miner. Strong balance sheet, conservative management, strong free cash flow. Retired almost all debt.

Gets all the ticks off the value investing checklist, but trading at less than 9X trailing earnings, even after a nice runup here rthe last couple of days.

Compare its PE to some of the nascrack stuff and it makes no sense.

either we are in 3 of 3 or it is 3of c of b, which means we are in the midst of a powerful up wave. @this point i have little doubt new forever highs will be seen in gold by the 1st quarter of 07. sometimes the day to day stuff can make one lose sight of the big picture.
bv, your example of paas is why i think we could be in the c of b wave.
dharma

I agree. I think 3 of c of B is more likely. I think after we go to 380+, the next decline will be to another higher low, above the 303 low.

ander this is the way i am leaning. i am however open to the possibility of it being 3 of3 . but i give it maybe a 25% chance
dharma

I think this should be an interesting development

"The Chicago Board of Trade said Wednesday that it will expand its trading hours for its full-sized gold and silver contracts to 24 hours, effective immediately."

Wed Aug 02

We probably need to see how GLG handles the current horizontal resistance. If it absorbs up here with little supply then a break to the next level is a good possibility.

http://www.StockSharePublishing.com/ChartL..._1154546429.png

What a wierd last couple hours. Roller coaster down and up again. Nice headfake...

Sooo...No on expects we go anywhere near the June low again? The bottom has been put in - hard to believe a bottom was put in after a one month intermediate term correction. Will we even see the July low again?

@