I see on the video above that gary wagner is thinks this is the start of wave 3 and is looking for gold 1420, so that should be quite spectacular for the gold stocks and etfs.
emerging wave 3?
Started by
dharma
, Sep 13 2017 10:07 AM
634 replies to this topic
#141
Russ
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Posted 09 October 2017 - 11:49 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
http://marketvisions.blogspot.com/
"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/
#142
dharma
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Posted 10 October 2017 - 10:03 AM
yes, me too, i think the market has beat up most gold investors, that is their psychology is hanging by a thread, not that the market circumstances havent promoted that condition.
the cot report is always as of tuesday, so no way of knowing what the commercials did. imo , the market is at a crossroads, fridays lows were essentially at a fib retracement(1268) 1300 is big resistance so, i am not sure the lows are in. there are bullish circumstances 1-china is back in the market this week 2-the next 2 weeks is diwali buying. the extant of which will become apparent (this is real physical buying)3 -india has rolled back gst taxes and there was one where jewelers had to fill out a form to get information on buyers of more than 50k rps on a long form. modi and jaitley are on the hunt for taxes and tax evaders. there are large inverse h&s patterns on gold /silver /and gdx/gdxj the sector is underowned and is a very small percentage of the spx.
trump is giving a speech on iran on thursday, this could be a game changer. i bought the jobs #s and will now sit and see if we are impulsing up or in the midst of this correction. there are alot of bullish fundamentals and technicals. however, once in a correction it is difficult to access if that phase is over. needless to say the debt burden world wide is enormous pressure on all markets. the broad market seems to be finishing a diagonal 3rd wave ie 5 of that 3. golds day is coming, the key is to maintain ones psychology. not to be so beat up when it arrives. of course we will overshoot what is a sound price. and that is what will make it interesting also keep in mind to regain confidence in the financial sphere, the price of gold will have to be high enough to back a currency to whatever extant is necessary in the depression roosevelt had to raise the price of gold 40% which meant a big haircut for those holding dollars, which was most everyone , after he called all the gold in
i do think gold will have to be a leg of backing for whatever the currency is , in this way folks will have confidence in the currency. left to politicians they will do what we have seen ie depreciate the currency w/a loss off pp.
we are getting close, this period here will reveal alot
dharma
#143
gannman
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Posted 10 October 2017 - 10:45 AM
DE Stephen leeb has an interesting new article at king world news
He is very bullish precious metals and he is smart he has made some good calls
In the past fwiw
He is very bullish precious metals and he is smart he has made some good calls
In the past fwiw
feeling mellow with the yellow metal
#144
gannman
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Posted 10 October 2017 - 02:03 PM
looking at some charts here i think this rally is a wave iv fwiw
a iv of c down
feeling mellow with the yellow metal
#145
dharma
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Posted 10 October 2017 - 02:58 PM
w/ this idea of challenging the petro dollar by china to trade yuan for oil and then the customer has the choice to change the oil for gold
now china has officially said it has 1800 tons of gold. and it is known that china is the largest importer of oil in the world. how will this work
the usa could meet the challenge by asking canada and australia to not sell its gold to china!?
well here is how http://www.reuters.c...p-idUSKBN1CF0R0china is also the largest gold miner in the world , if they start seriously mining their gold it seems they have alot of proven reseves by itself to cover the oil
dharma
#146
dougie
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Posted 11 October 2017 - 12:58 AM
A chart would be nice to see what time frame and index you are referring tolooking at some charts here i think this rally is a wave iv fwiw
a iv of c down
#147
dharma
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Posted 11 October 2017 - 09:57 AM
this week china is back in the market, when that has occurred in the past, gold has put in a strong week
tomorrow trump announces on iran
pvg has a woodie this am
is the correction over, we do have a 14,7,7 crossover on stochs. =bullish
dharma
#148
dharma
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#149
senorBS
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Posted 11 October 2017 - 02:18 PM
a fantastic "shake the tree" day with the bueno intraday decline after 5 up IMO in GLD and a bueno gap fill there and another bullish reversal session, I see norte ahead, we see
Senor
#150
dougie
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Posted 11 October 2017 - 02:50 PM
senor you thinking this is something like a 3 now or a C?
