7 replies to this topic

[gannman]

if we say gdx did a wave i of 1 up from about 12.50 in mid january  area to 26.17 we are now in wave ii of 1 since may 2 top 

 

the implication is a pullback to about 21 level in gdx and then the launch of a wave iii of 1 up it would also imply

 

that wave iii would be about 21 points if its folliwing a fib sequence bringing it into the 40 area fwiw 

 

just one possibility it could just fall apart also ha ha but that is the chance you take. 

 

this would also imply a mega move in gld fwiw all just a possible move 

 

personally i am convinced the bear in gld and the miners is done but i might be wrong ha ha thats life 

 

good trading 

 

[viccarter]

 

if we say gdx did a wave i of 1 up from about 12.50 in mid january  area to 26.17 we are now in wave ii of 1 since may 2 top 

 

the implication is a pullback to about 21 level in gdx and then the launch of a wave iii of 1 up it would also imply

 

that wave iii would be about 21 points if its folliwing a fib sequence bringing it into the 40 area fwiw 

 

just one possibility it could just fall apart also ha ha but that is the chance you take. 

 

this would also imply a mega move in gld fwiw all just a possible move 

 

personally i am convinced the bear in gld and the miners is done but i might be wrong ha ha thats life 

 

good trading 

 

 

Yeah, it was a lotta volume moved on the GDX today and it closed on the lows.  I don't really have a longer term opinion, but I was positioned correctly today.  I didn't time it perfectly because I was swing short from yesterday morning and took a little heat yesterday, but today paid off.  I didn't cover BTW yet.

 

I don't know, I'm honestly pretty confused about everything right now, but this was my first position since my April 26/27 SPX shorts.

[dougie]

NIce call !

Who knows, maybe it will retrace the whole move off this years highs! 

100 here we come!

[Ticker]

I think this dip is a buying opportunity. I will be adding to gdx and buying gold futures early next week.

[tria]

GDX needs some time to cool off.

 

An 'all in' situation will likely develop in the distant future but not anytime soon imo.

[pedro]

Either we're in A of ABC for 2 as gannman suggests.  With at least many weeks to several months to go.

 

Or we completed an irregular 4 in the bear, where B of 4 was the mid winter lows.

 

Which would imply new lows in time

 

I have bucky starting up on new bull leg, so I favor the latter.

The US is in bad shape, but everyone else is in worse.

[tria]

Either we're in A of ABC for 2 as gannman suggests.  With at least many weeks to several months to go.

 

Or we completed an irregular 4 in the bear, where B of 4 was the mid winter lows.

 

Which would imply new lows in time

 

I have bucky starting up on new bull leg, so I favor the latter.

The US is in bad shape, but everyone else is in worse.

 

Pedro exactly, every currency is in bad shape so some people may prefer to park some

paper cash into Gold, which does not owe anything ( zero-0.00 ) to anyone on this earth.

[dougie]

Anyone care to comment on DUST volume?