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#241 dharma

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Posted 11 August 2017 - 10:50 AM

so far in 17 we have passed 1300 on 2 other occasions this is the 3 rd try up there and so far we have not gotten there

a close above 23 for gdx will give us a weekly close above resistance

keep in mind the eclipse has not happened yet =21st of august.  i think the big part of the move is ahead

we might pull back or consolidate 1st   we shall see.  how it plays out

one thing is certain by the present majors reporting earnings. the majors are not making money @1250 gold  . this is because they used their best materials in the 11-16 downphase. that material got used up and they are forced to mine lower grades. 

silver miners have cut back , more than 20% of their previous output. at 16 dollar silver they dont make money. 

this in my opinion will lead to the majors buying out explorers. i dont know when the feeding frenzy starts but i have been positioning for it since the 16 lows.   they need higher grade materials to make profits.  it will happen very soon.  some folks think we have seen peak gold . i dont know about that. but i do know the majors are using low grade material and not making money.  its an area where one needs to do alot of due diligence the explorer space is quite tricky. lots of companies     i see stansbury is pumping one gold miner.    

i am on the buy should we consolidate or pullback  and it will be in the junior space

dharma



#242 gannman

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Posted 11 August 2017 - 01:45 PM

i think the fundies for godl are very good. the dollar is in a bear imo which has a long way to go 

 

so very bulllish for gold 


feeling mellow with the yellow metal


#243 Russ

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Posted 11 August 2017 - 01:46 PM

Hi,

 

no more French vine or German beer, for now  sad.png

 

Need to leave for work in a few minutes but wanted to give a short update.

 

We got the 1289 and even more, so that was nice  smile.png

 

Unfortunately, daily cycle now put in a top and weekly cycle is due for a top next week, so

that will limit all further progress for some time, unless we overrun the weekly top.

 

Have to do some calculations over the weekend and just wanted to give my 2 cents.

So right now it looks like a few weeks of sideways action.

 

not trading advice, gis

Unless those nukes start to fly. Armstrong's computer has august 11 and 12 as keys dates for this war conflict cycles and then mid sept.  Gold is still on track to form a big high in late Oct to early Nov. I have gone long nugt @31 area, I expect it to go back up to this years high around 55 then last years high around 143 minimum later this year.


Edited by Russ, 11 August 2017 - 01:47 PM.

"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong



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#244 dharma

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Posted 11 August 2017 - 02:56 PM

cots

http://news.goldseek.../1502480050.php

the large specs added to longs and cut shorts

the commercials accommodated them adding to short positions

w/o the immediate threat of war, gold hit stiff resistance and will consolidate or correct before the bulk of the move gets underway

remember this sector is out of favor and those in at have experienced a tr for almost 2yrs and before that it was lower prices

so folks are beat up or gone

dharma

keep in mind the #s that are coming out on the economy are going to give the fed reason to pause in their qt . and possibly put off their balance sheet restructuring. in short the fed is trapped . yes they are in the hotel california . when the dots are connected by the masses it will be game on 

for gold . cpi 1.7% which does nt match the real world


Edited by dharma, 11 August 2017 - 03:04 PM.


#245 johngeorge

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Posted 11 August 2017 - 03:09 PM

 

I remain bullish, but, am starting to wonder......

 

$Gold vs GDX   $Silver vs SIL

My opinion is hold steady as this market is IMO is trying to do everything it can to make us think miners can't/won't go higher, I like the action here as it appears the miners are starting to strengthen and GDX if it can sustain and extend the move above 23 says breakout underway IMO. we see

 

Senor

 

Thank you senor for those comments  smile.png

 

Your opinion is highly valued and your accuracy is legend.  In all the years we have been on this board I have observed so many of your skillful calls .  GDX looking good today closing above $23.  "The nose knows".  Will know all in the fullness of time.


Peace
johngeorge

#246 gannman

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Posted 11 August 2017 - 04:00 PM

as far as a wave count on gld i have i of 3 starting early july

 

this advance imo has all been part of i of 3 so we should get 

 

a pullback before we start in a iii of 3 / just my take 


feeling mellow with the yellow metal


#247 gannman

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Posted 11 August 2017 - 04:22 PM

as far as a wave count on gld i have i of 3 starting early july

 

this advance imo has all been part of i of 3 so we should get 

 

a pullback before we start in a iii of 3 / just my take 


feeling mellow with the yellow metal


#248 jabat

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Posted 11 August 2017 - 06:56 PM

 

au-spx.png?w=840

 



#249 Smithy

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Posted 12 August 2017 - 11:10 AM

Great chart, Jabat. Possible megaphone (RPW) bottom, which if correct, is seriously bullish long term for gold and bearish for stocks.

 

Senor, a penny for your thoughts; Dharma, and anyone else too. The gold shares are acting weak. That might be a question of sentiment that they are currently poorly regarded, OR is there a structural issue that the 3x gold share ETFs with their bias to decay are pulling in a lot of money to sell them short (a guaranteed 30% a year, my guess), and that is disabling the ability of gold shares to rise as gold goes up.


Edited by Smithy, 12 August 2017 - 11:12 AM.


#250 johngeorge

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Posted 12 August 2017 - 07:25 PM

Smithy

 

"The gold shares are acting weak. That might be a question of sentiment that they are currently poorly regarded, OR is there a structural issue that the 3x gold share ETFs with their bias to decay are pulling in a lot of money to sell them short"

 

My 2cents is that it is probably a combination of both.  Gold shares in the dump and DUST has an average 90 day volume of 7 million shares traded daily. 


Edited by johngeorge, 12 August 2017 - 07:26 PM.

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