Re: Share buybacks
in response to
by
posted on
Apr 20, 2009 07:04AM
(Edit this Message from the "Fast Facts" Section)
Good points Spiny. Thanks.
Here is a post just purloined from another BB. The next few days ... as indicated by so many sources...could/should be pivotal for the PMs. ..and away we go.
As stated before, a $US gold dip to spot $830-860 zone over the next 1-3 days would set up the perfect support at the right time [we have seen $865 tonight]. There is also the 20% possibility for a collapse below this zone. Yes, an acelleration trend change is possible because trend change is not 100% opposite direction, and occasionally is a change of gear in same direction, but don't count on sideways or anything close to such in most markets over the next few days.
I have often professed my respect for financial astronomy/astrology, basically as high % turning point indications due to planetary conjunctions. The best 2 interpreters of this science are Arch Crawford and Ray Merriman, both who use this in conjunction with medium and long term technical analysis. This from Merriman yesterday: "Gold tested but held its low of April 6, but silver took out its April 6 low. If they also reverse here as Venus ends its retrograde and turns direct [April 17], it would be a case of intermarket bullish divergence where one market makes a new multi-week low and a related market does not. WHEN THAT HAPPENS ON A CRITICAL REVERSAL DATE, it is usually followed by a very strong counter-trend move".
Another strong ingress occurs on Wednesday April 22 with Mars entering Aries. This jargan surely seems like trite comments to those of you who may ridicule the significance of physics and markets, but these are big geo-cosmic events...and they suspiciously occur right in the heart of Armstrong's 2009.3 Economic Confidence Cycle turn [3-5 days either side of April 19].
If we dip down tomorrow to $US spot 830-860 and come bouncing out by noon, then it would be a "perfect storm" in a gold positive sense. The $US dollar is again at 86-89 resistance zone and HUI gold stocks have been hit hard the last 2 days. Will gold, silver and PM stocks accellerate to downside?... or do we back turn up by Wednesday? Tomorrow may curtail the suspence with some clear indications.