222 replies to this topic

[dougie]

is Hoye ever correct? well of course he is sometimes, and big picture, but his technical calls never made me a DIME

[dharma]

Bob Hoye sees a 20% haircut in the miners HERE and a correction in BOTH gold and silver:

Bob Hoye


stubaby

i read the hoye piece. i am not going to address all his points.
silver is a short reply. since the april highs, it looks like a cup and handle.

gold - i had been looking for an august high for ages. 22 month cycle tops aug/oct. short cycle tops in august. so far it was a week off.
so why am i still bullish?
sept is the most bullish month of the year. if not the most bullish , one of the most bullish months and the top does not look complete to me ------yet.
if you look @the %gains of the last 22 month cycles , this one fits right in. it was light until the 1917 high. of course we shall see if my back tracking will pay off.
the patterns on the miner indexes look to be completing the last several months consolidation phase. hui above 609 will be the lead.
dharma

[stubaby]

Does look like we are in for some more "short-term" volatility now. Could be a small move down in miners towards 60 on GDX

OR

A complete retrace of of the move from last Thursday plus a little more towards GDX 57.5

For me it's all just "noise" and the set-up for breakout is there and will be fullfilled!

Doing nothing now and going to take the rest of this week off from posting - 'til after Labor Day weekend.

Goodluck to all!

stubaby


PS dharma - how about a new topic for next week!