575 replies to this topic

[dharma]

 

UGLY is all i can say

I don't know if we are bottoming or not but I don't know I have ever seen a good bottom that was not UGLY

 

senor , if i am understanding you  here. bottoms scare people off they are meant to be downright ugly. in this case the largest money outflows have occurred in the gdx, which has seen record outflows over the last few days. this is a sentiment  reading, its saying that people are losing confidence in the sector and they are putting their  money to work some place else. these kind of factors.create bottoms its not fun to go through or to watch but these wipeouts are part of market action. like every other market this one too will bottom   

and few will buy it.   most will be glad to leave.  when the up trend resumes folks will come back, just in time for the next correction. this is a sector that weakness needs to be bought and strength needs to be sold . the parameters of which will change as the volatility and bull continues. right now we have been consolidating for 2+ years. so  in spite of all the drama , essentially we have gone nowhere

dharma

[senorBS]

 

 

UGLY is all i can say

I don't know if we are bottoming or not but I don't know I have ever seen a good bottom that was not UGLY

 

senor , if i am understanding you  here. bottoms scare people off they are meant to be downright ugly. in this case the largest money outflows have occurred in the gdx, which has seen record outflows over the last few days. this is a sentiment  reading, its saying that people are losing confidence in the sector and they are putting their  money to work some place else. these kind of factors.create bottoms its not fun to go through or to watch but these wipeouts are part of market action. like every other market this one too will bottom   

and few will buy it.   most will be glad to leave.  when the up trend resumes folks will come back, just in time for the next correction. this is a sector that weakness needs to be bought and strength needs to be sold . the parameters of which will change as the volatility and bull continues. right now we have been consolidating for 2+ years. so  in spite of all the drama , essentially we have gone nowhere

dharma

 

yep amigo we are in tune. And how ugly it gets depends on what kind of bottom gets made. Not sure right now if we have a little or a lot lower to go, I lean to a little (1-5%) vs a lot (15% or more) but that will depend on how much downside follow thru we get after today's gold plunge and if the miners can show improving relative strength like they did today, there is not an easy or obvious wave count here so that adds to the uncertainty

 

Senor

[gannman]

imo we never  entered a wave 3 we ended an A wave correction in the hui on dec 20 2016 

 

then we did a B wave up into april 13 2017  

 

we are now in a c wave down to completed wave 2 correction imo 

 

slv pretty much correlates that as the action since its top on 4 13 is definitely a c wave to me

 

so wave 3 has never started but its coming it will be obvious when it arrives just time to be patient

[crossd]

http://stockcharts.c...id=p26584353163

 

 

the above not a pretty picture for bulls and says to me a retest of 1150 possible..

 

donc

[dharma]

 

more capitulation. folks are leaving the miners in droves   1220-1229 support  1213  is the end of the last price cycle . 1218 on a gann sq of 9 is 11/2 revolutions from the 1297 recent high.    the real rate of inflation is above the feds interest rates bullish for gold . there is fear in the markets right now , not reason, we are close to a washout. bottom. not much more is needed. the lower #s bandied about are part of it. "new lows" etc. anything is possible ,but is it probable.? trading is based on probabilities.  the newly elected president has made lots of promises , there is lots of hope , i am hopeful he can change some things. all of these programs must be voted upon by congress.  each one of whom has their own agenda. 

sure this could all be wave 2 no problem.  the bottom line is  how does one navigate thru these waters? everyone has their own style? 

i have managed to survive and prosper in these markets for 40 yrs. lots of continuing studying. lots of luck..  one has to trust in himself/herself.  

 

this action leads to bottoms.  the market got frothy . dsi at 90 . now its the other side of the coin . we are oversold way oversold silver is down an amazing 14 days straight. the other side of this coin should be powerful.  whoever wins the french election will be incidental in one sense. just as trumps win is incidental.  market forces as those dominoes above will exert pressure on the market . today is obviously not the day . if you are a day trader. an investor takes a different stance.   i am in buy mode, but i will most probably wait for tomorrow. 

dharma

[dougie]

1030 on deck?

[johngeorge]

Nearly nothing is impossible dougie.  As dharma stated we trade on probability.  I remain bullish here (looking to buy) and if we decline more then I will continue looking to buy.  The long term fundamentals for gold look very good to me and Rob McEwen who, as I understand it, is still looking for $5000 gold in another 3-5 years.  It takes a computer to count the dollars the US is in debt and, if some of President Trump's proposals pass in Congress, they will add another layer to that debt burden.  Gold is necessary insurance.  Well run gold miners are a way to play gold with excellent probabilities of making money. 

[senorBS]

14th straight down day silver, what will it take? key in miners with March lows being taken out (GDX/HUI/XAU) is whether we might be close to ending a large and deep abc decline from last July/Aug highs, or we will keep declining and take out the Dec 2016 lows?

 

Senor

[goldfungus]

 

more capitulation. folks are leaving the miners in droves   1220-1229 support  1213  is the end of the last price cycle . 1218 on a gann sq of 9 is 11/2 revolutions from the 1297 recent high.    the real rate of inflation is above the feds interest rates bullish for gold . there is fear in the markets right now , not reason, we are close to a washout. bottom. not much more is needed. the lower #s bandied about are part of it. "new lows" etc. anything is possible ,but is it probable.? trading is based on probabilities.  the newly elected president has made lots of promises , there is lots of hope , i am hopeful he can change some things. all of these programs must be voted upon by congress.  each one of whom has their own agenda. 

sure this could all be wave 2 no problem.  the bottom line is  how does one navigate thru these waters? everyone has their own style? 

i have managed to survive and prosper in these markets for 40 yrs. lots of continuing studying. lots of luck..  one has to trust in himself/herself.  

 

this action leads to bottoms.  the market got frothy . dsi at 90 . now its the other side of the coin . we are oversold way oversold silver is down an amazing 14 days straight. the other side of this coin should be powerful.  whoever wins the french election will be incidental in one sense. just as trumps win is incidental.  market forces as those dominoes above will exert pressure on the market . today is obviously not the day . if you are a day trader. an investor takes a different stance.   i am in buy mode, but i will most probably wait for tomorrow. 

dharma

Don't like that gold took out 1235, which was my red line. I'll give it a little more rope before I pull the cord.

[gannman]

check the dollar now below its 200 dma sweet we are going to have one heck of a rally in gld and the miners but we are not there yet