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UGLY bottom or classic?


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#21 senorBS

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Posted 21 November 2016 - 09:48 AM

 

IMO we are at a stage where a market that is this extremely  oversold (and diverging) from hourlies to dailies either crashes another $50 or undergoes a soild bounce at a minimum. There usually is not much in between when at extremes like we now have IMO. So I view tonight's and Mondays action as very "near term" important, as far as the medium term goes that jury remains out

 

I agree with you ,a bounce of unknown magnitude is starting here.

i also keep in mind , we are in Erics time window of a bottom , plus what i believe to be the majority is looking for it to break lower.

there you have it.  GLTA  zorro.gif

 

yep, I like what I see "so far" and the fear of a big downside beak seems very high. Wave patterns and technicals IMO suggest at least a bueno trading low, only time will tell. Continuing to hold a modest GDX and SLV position taken late last week. If we rally modestly today then a lot of those "potential bullish" divergences will start looking confirmed.

 

BSing away

 

Senor



#22 Russ

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Posted 21 November 2016 - 01:38 PM

 

IMO we are at a stage where a market that is this extremely  oversold (and diverging) from hourlies to dailies either crashes another $50 or undergoes a soild bounce at a minimum. There usually is not much in between when at extremes like we now have IMO. So I view tonight's and Mondays action as very "near term" important, as far as the medium term goes that jury remains out

 

I agree with you ,a bounce of unknown magnitude is starting here.

i also keep in mind , we are in Erics time window of a bottom , plus what i believe to be the majority is looking for it to break lower.

there you have it.  GLTA  zorro.gif

 

Eric originally thought the low would be in Sept. though.  I think we are in the time frame for a low here myself, my signal from last July is pointing to this week.


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#23 denmo83

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Posted 21 November 2016 - 08:20 PM

 

 

IMO we are at a stage where a market that is this extremely  oversold (and diverging) from hourlies to dailies either crashes another $50 or undergoes a soild bounce at a minimum. There usually is not much in between when at extremes like we now have IMO. So I view tonight's and Mondays action as very "near term" important, as far as the medium term goes that jury remains out

 

I agree with you ,a bounce of unknown magnitude is starting here.

i also keep in mind , we are in Erics time window of a bottom , plus what i believe to be the majority is looking for it to break lower.

there you have it.  GLTA  zorro.gif

 

Eric originally thought the low would be in Sept. though.  I think we are in the time frame for a low here myself, my signal from last July is pointing to this week.

 

Who is Eric?



#24 dougie

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Posted 21 November 2016 - 08:36 PM

Hadik
Had a nov low for some time

#25 senorBS

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Posted 21 November 2016 - 08:45 PM

Hadik
Had a nov low for some time

I just read Hadiks Nov 9 post (http://40yearcycle.com/2016/11/?cat=1), interesting that we so far have bottomed right into his time frame.   I see gold up a bit in early overnight trading near 1220, lets see if the bounce continues overnight, I have prev 4th wave resistance at 1231-1233

 

BSing away

 

Senor



#26 pisces

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Posted 21 November 2016 - 08:47 PM

Eric Hadik  is a successful commodity analyst-advisor also covers a multitude of subjects  from weather related also war related cycles going back to biblical times.i never been a subscriber but followed him thru freebies he send out   .successfull is the keyword . has a website called  insiide track .



#27 dougie

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Posted 22 November 2016 - 01:18 AM

He has been hot on gold this year to be sure, due to be wrong sometime

#28 crossd

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Posted 22 November 2016 - 09:55 AM

FWIW..Barrons says the copper rally is overdone and 'false' as commercial hedgers have piled on the shorts..not bullish

 

donc



#29 redbrush

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Posted 22 November 2016 - 01:48 PM

Should know soon IF this is a 4th wave contracting triangle. Hourly up against the upper trend line now. If 4th wave triangle then e is now completing and thrust down should occur soon, then correction is over. 

As always with Elliott the other option, which occurs frequently enough for gold stocks is a corrective triangle after an a-wave down or first wave. So could be a b in a more complex 4th wave or a 2 wave following the initial bounce. 

Now a matter of time and other technical stuff to take over.   



#30 senorBS

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Posted 22 November 2016 - 03:40 PM

I exited longs as Thanksgiving approaches with nothing clear, broke even on SLV and made a few cents on GDX. Going to enjoy the holiday and be 100% el cashola.

 

BSing away

 

Senor


Edited by senorBS, 22 November 2016 - 03:40 PM.