I did sell a position last week as it was showing a decent profit. Turned around and doubled my position in GSV (Not a recommendation. Do your own due diligence) I am nearly fully invested, but, have dry powder stored away. Watching a couple three stocks for possible purchase during this pullback - backing and filling period. I remain bullish and looking for higher prices in the metals and stocks in 2017. Would not surprise me to see $1400 gold this year.
wave 3?
#381
Posted 25 April 2017 - 10:46 AM
johngeorge
#382
Posted 25 April 2017 - 11:56 AM
Bad chart action here probably in the middle of a 3rd wave down I will watch
I thought the title of this thread referred to a 3rd wave up?
#383
Posted 25 April 2017 - 11:57 AM
#384
Posted 25 April 2017 - 12:37 PM
i didnt trade , it was before my time when the 75-76 downturn hit , it cut gold prices in 1/2 i think we mare than had that @the 15 lows. w/the miners being. down 90% and folks bought then. i b
ought then . the higher low in dec 16 for me was the signal that gold had bottomed. i am still of that view
we shall see. .
the title is wave 3? meaning its a possibility and this down turn so far has negated nothing.
dharma
#385
Posted 25 April 2017 - 03:07 PM
i believe we have seen 2 days of capitulation here.
the commercials increased their short position over the last 2 weeks this after/during a 90% dsi reading. the commercials influence in the market has waned, but make no mistake when they are ready they will pounce . and make no mistake they work w/the exchange members , make no mistake they work together, doubt that , well just ask the hunts!
we are now oversold . tomorrow or the next day there will be a bounce and then a final low. hopefully creating divergences , thus giving me a buy signal the miners have lagged gold also a bearish sign and key
w/the rise of the dubai quattro and the shanghai, i do expect the viper den , called the comex to lose its influence and it will not take long
higher rates are putting pressure on commodities which is pressuring gold here.
dharma
lumber prices made new highs recently, which in the past was a forerunner of inflation! the economy is a big locomotive, it takes time for things to exert themselves.
traders are front running the tax cuts . sure the market can go higher, not something i will chase, -ie broad market
Edited by dharma, 25 April 2017 - 03:14 PM.
#386
Posted 26 April 2017 - 10:25 AM
now we bounce, or soon. gold is ending its decline, of this leg. we are on track for next weeks low and bottom into the bradley while the elections in france and iran are major. the larger event is the debt ceiling which comes in april 28th w/the govt running out of money may5th. the seasonal chart i posted yesterday has a top in may and the bottom in june/july/which i think reverses this year. the bears will growl a bit longer. but i see the pieces of the puzzle coming into place. russia/china have announced they have developed an alternative to the swift system. which in essence will end dollar hegemony
so far the gurus have called the many events that have occurred in the wrong manner. as born out by the market. i see higher lows on the gold chart which is the start of something new to the upside. higher highs will occur soon, the base is being built.
dharma.
trumps new tax relief plans for corporations is inflationary
his plan to slap a 20%tax on lumber prices is also inflationary
lets see what he is able to get passed
#387
Posted 26 April 2017 - 12:57 PM
#388
Posted 26 April 2017 - 12:58 PM
#389
Posted 26 April 2017 - 02:00 PM
hmm i see the possibility of slv bottoming with one more shot down we will see who knows
#390
Posted 26 April 2017 - 02:03 PM
looks like a 4 of c here maybe not sure