what now?
#461
Posted 11 September 2017 - 09:02 AM
#462
Posted 11 September 2017 - 10:00 AM
gold has rallied 150 from the july 10th lows. the market is overbought and the commercials have taken the other side of the large specs long positions. so , i am waiting for a larger pullback. say 1300-1280 which does not change my bullish stance the environment is improving for gold , here is jesse
“And right here let me say one thing: After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I’ve known many men who were right at exactly the right time, and began buying and selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine – that is, they made no real money out of it. Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance.”
inflation is definitely lurking and kicking up:
http://economictimes...ow/60458314.cms
http://economictimes...ow/60435305.cms
http://news.xinhuane...c_136572261.htm
this is a very bullish backdrop for the metals. corrections are part of the process.
i have built a position in svbl, this is not investment advice, i know nothing due your own due dilligence , before your money winds up in someone else's pocket!!!
they are a silver and zinc miner. they made their highs in 07
dharma
#463
Posted 11 September 2017 - 11:54 AM
Armstrong Gold Cycle for next few weeks
#464
Posted 12 September 2017 - 06:50 AM
The high on Sept. 8 was 1362.40, Armstrong said many weeks ago that gold would have to close above 1362 to turn more bullish. A close below 1323 will break the uptrend line since july.
"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
http://marketvisions.blogspot.com/
#465
Posted 12 September 2017 - 10:00 AM
on the hourly charts gld/gdx/gdxj all went into oversold territory i am looking for a set up w/divergences from oversold on an hourly chart. cautiously adding. when i see big money managers make initial allocations into the sector then that is a very bullish sign. and now king gold basher jeff currie"currie in a hurry" say that gold provides diversification, that perks my ears.up. something has changed. the infrastructure has changed . the commercials are very short, yet no 3am bombing runs the market has a different feel. nickel, copper, and zinc have taken off. gold is not an island . it gets support from commodities. if you go back and look at charts of commodities in the 70s it was broad based participation. gold got support from them. 1350 represents big resistance its the area where when trump was elected , simultaneously modi called in the 100rps notes. gold then tanked. fresh on the charts. creating resistance. we are in diwali buying there is a good bid for physical
of course its a market and there are lots of calls out there. whatever you do, dont shoot yourself in the foot .comfort is key so stupid mistakes are not made!
dharma
#466
Posted 12 September 2017 - 12:58 PM
Tomorrow is the on time day for a bottom in Gold.
#467
Posted 12 September 2017 - 09:34 PM
thinking that way as well, jabat
http://russia-inside...ed-yuan/ri20807 this is quite interesting
and this
http://www.atimes.co...rics-bombshell/
marty came out again today , reiterating his views on the dollar. that it would become strong.
i dont think this is the way it unfolds. governments hold gold, because at some point they lose faith and trust in each other
8000 tonnes of gold held by the usa government. valued at 42.22 an oz. the government can find wealth by revaluing their asset
i suspect mnuchins visit to fort knox is the forerunner to that . stay tuned.
dharma
#468
Posted 12 September 2017 - 10:09 PM
i like the way gld is set up here fwiw
#469
Posted 13 September 2017 - 08:50 AM
#470
Posted 13 September 2017 - 08:54 AM
Thanks, Jabat.