Thursday, August 14, 2008
One of my fun pursuits in the Autumn, in Northern Alaska is to go out into the dredge 'tailings' [ the rockpiles created by gold dredges as they chewed their way thru the river bottoms sifting out gold from their movable ponds ], with a metal detector and Remington 20 gauge pump shotgun. I would be 'sniping' small bits of gold missed by the dredges without 'nugget traps' on the back end of their sluice boxes.
'PLACER' gold, its called, after the Espanol, "Plaza" which describes the wide expanses where one ancient river bed emptied into another. Gold, finer than flour, and in some cases with nuggets as small as a ballpoint pen tip and other cases the size of the first digit of your index finger.
Some days I got a wee bit o'gold, on my Yamaha ATV, wandering around out by the Davidson Ditch. Sometimes I got a grouse or two for my pot. Sometimes I got really scared.......REALLY SCARED ! ! ! Mostly by MOOSE, seldom by bears. No Salmon spawning up in these elevations, as they dont waste the energy to get above, say, 2,000 ft above sea level, so no danger bears were scavaging salmon during grouse season [ Autumn begins around July 21 up there, and Grouse season opens August 10th].
But I was Loaded for BEAR, Just in Case. Perhaps you should always consider haveing plans, in case there is a bear around.
Since gold was in the 300-400 dollar range, I never really made my gas going out and back, most times, 40-80 miles out on the Steese Hiway, but I usually got some tasty treats for my pot back at camp, so it was a glorious way to spend say 10 days during the beginning of Autumn, with NO bugs. I now hope everyone is enjoying the same.
Do all the readers or did all the readers have protective stops under their NON-CORE Holdings? Are some of us wondering if we'd taken such provisions, would be feel free to go on holidays with a carefree mindset?
The GOOD NEWS, at least as it relates to GOLD, is that there is no way, IMO, that this decline can touch the main trend, THE MAIN LINE OF RESISTANCE of the GOLD BULL.
THE BAD NEWS ? ? ? Well that my friends is THAT THE MAIN LINE OF MONTHLY RESISTANCE for this GOLD BULL lies between $325 & $410 US per Oz, on the continuous contract [ might as well be spot ].
Well now we know about GOLD & BEARS.... Now for the grouse, excuse me, Grousing...
ya know, complaining, woulda, coulda, shoulda....... I think what we have here
" Is A Failure to Communicate", that BULL TRENDS of immense power such as this gold trend, have Secondary or Intermediate Trends of Intense and Fierce nature, like Mom Grizz chasing off intruders. Perhaps the corrections are even 3X more scary than the advances. Did we get lulled into a false sense of security by the persistence of Gold's upward March? If so we are about to suffer some serious casualties of a REAL Counter Attack, not just the NYMX 8 AM dump ! ! !
So now, NO Woulda, Coulda, Shoulda, OK ? ? ? Can we Counter Attack, the COUNTER ATTACK ? How 'bout we have some fun? Lets play Middle Line Backer [ Ala National Football League ], lets GO WITH THE FLOW, and make the play.
HOW CAN WE DO THIS ? ? ? I think a great device is Swing or Momentum Trading, IF you pick the right horse to ride.......Plenty of articles out there on how to do this, fewer, tho on how to pick the right horse [ Kings Crown in the 5th at Santa Anita ? ].
The bottom line here is preparation or lots of painkillers and Valium. You pick.