634 replies to this topic

[dougie]

Ugly action. Shake out weak hands one more time is my call

[dharma]

so far gold is resilient , but that could be the bait that keeps the bulls baited!?

dharma 

[senorBS]

so far gold is resilient , but that could be the bait that keeps the bulls baited!?

dharma 

Don't think so but who knows? I will say that I do like it when markets take it to the absolute brink and make one doubt why they are or were ever long as this one has done. Today's not over and there is yet no decisive action, but at least we da bulls got a solid chance here IMO, we see

 

Senor

[senorBS]

Basis daily charts XAU and HUI made marginal new lows today below their Nov 3 lows (XAU/HUI). We got some real nice looking daily RSI divergences at oversold levels. Once again no guarantees but this could indicate important downside completion action and we have IMO the oversold energy for a strong up move, we will see

 

Senor

[senorBS]

FWIW my stop on longs is now today's HUI/GDX lows

 

Senor

[senorBS]

anyone else think the tax plan vote/result could be a big mover for the markets? If it passes fiscal discipline takes yet another big hit and deficits expand even more - might that hit the dollar hard and gold rallies? Dharma you talk often on this - thoughts?

 

Senor

[dharma]

anyone else think the tax plan vote/result could be a big mover for the markets? If it passes fiscal discipline takes yet another big hit and deficits expand even more - might that hit the dollar hard and gold rallies? Dharma you talk often on this - thoughts?

 

Senor

i would be surprised if trump gets any of his agenda  passed, firstly

secondly, it might be a sell the news event for the broad market, its not like this is coming from left field. 

if it does pass it will have some stimulating effect on the economy   but it will diminish tax receipts which will balloon the deficits.  which i thought think as senor suggests, it will bearish for the dollar and bullish for gold  

right here , i feel the market is testing the resolve of the weak holders in the miners and metals.   

we have to get through november , then we see what we got

 dharma

[senorBS]

How interesting that Ray Dalio who runs the world's largest hedge fund has greatly expanded his gold investments

 

http://www.zerohedge...-largest-holder

 

Senor

[Smithy]

It's off topic but it looks like SPX might break support at 2565.

[senorBS]

nice gold and silver action this fine mornin, lets see how the miners do, note that HUI/Gold ratio is very oversold and looks to be bottoming IMO potentially int term, we see

 

Senor