78 replies to this topic

[dougie]

or those who own the banks own and control the supply

[senorBS]

took a small GDX TRADING position as I bot near 23.18, will use a fairly tight stop. If near term bearish it needs to fade here badly today IMO

 

BSing away

 

Senor

Edited by senorBS, 17 October 2016 - 10:39 AM.

[senorBS]

this is one tough hombre, stayed long my small GDX trading position taken earlier today, Bottom line is that support at gold 1250 has held and HUI 195 area as well. Technical s are oversold and sentiment has become very negative - all this guarantees nada and II am still think its 50/50 whether gold might ultimately see one more washout leg down to 1210 area. I don't mine owning a small long for now but I am an itchy finger kinda guy in this environment

 

BSing away

 

Senor

Edited by senorBS, 17 October 2016 - 06:38 PM.

[senorBS]

exited GDX for decent gain, just a trader here

 

BSing away

 

Senor

[senorBS]

did a lot of dollar charting - looks to me like it's going to go to perhaps 101-102 in dollar index in a blowoff. If correct that will very likely keep pressure on the gold sector and perhaps give us our last leg down. At this time I am in no hurry to buy the gold sector as I am going to try to be patient and see if this plays out

 

BSing away

 

Senor

[johngeorge]

Si Senor

 

I have been watching the dollar index as well.  To me it looks, as you say, like it wants to head up.  So I took  a look at some charts.This PNF chart

has a tentative upside objective of 106.  However, I prefer your numbers.    I am sitting on a pile of cash burning a hole in my pocket.  Patience Patience Patience.  Many times I find it difficult to keep from jumping in. 

 

Thanks for posting your thoughts and analysis.  It is most appreciated.

[dougie]

exited GDX for decent gain, just a trader here

 

BSing away

 

Senor

nice trade, wish i had joined you

[stubaby]

did a lot of dollar charting - looks to me like it's going to go to perhaps 101-102 in dollar index in a blowoff. If correct that will very likely keep pressure on the gold sector and perhaps give us our last leg down. At this time I am in no hurry to buy the gold sector as I am going to try to be patient and see if this plays out

 

BSing away

 

Senor

Si senorBS:

 

http://stockcharts.c...394&a=265472750

 

I am looking for a move to or slightly above that top rail of the flag - a solid breakout higher and successful backtest would point much much higher (110-112?), however, it is also a likely area for a reversal (minor back down to the bottom rail or major triple top)

 

stu

Edited by stubaby, 21 October 2016 - 07:27 AM.

[senorBS]

thanks for chiming in guys, if dollar index does blowoff it's always hard to determine how high it goes, and patience can be very difficult but I for now thee recent rally in gold/silver/gold stocks does look corrective

 

Senor