89 replies to this topic

[gannman]

i still want to see gdx over 24 fwiw since i am looking for over 45 in gdx it is worth it to wait

[gannman]

until we break thru the 24 region on gdx we have nothing so more of the same today a rally that fades instead of getting stronger

[gannman]

nothing has changed here just watching 

[gannman]

fwiw according to my count this thing should bottom next week. good luck right. again i am not touching anything until gdx gets above 24 and i want to see it done quickly not take forever to get there 

[Russ]

I think we may have bottomed today, I posted the gold futures chart on Nov. 13 with a projected low for early Dec. which conflicted with the gld chart which was showing a low for Nov. 22 but now that we are here this looks like it may be it. 

[gannman]

i need to see upside confirmation  lots of overhead resistance here just watching

[gannman]

the cot on friday ws terrible so lets see what gold does this week to me by the wave count that i am looking at we should not go a heck of a lot lower in gdx 

 

but again gdx needs to break thru 24 in am inmpulsive manner before i consider this sector a buy so until that happens nada from my point of view

[gannman]

http://www.gold-eagl...te-cycle-update

 

 

cycle article

[gannman]

my take is that the final drop down started around nov 27 or nov 28 looks like we are in iii of this final drop so we need to finish iii rally in a iv and then drop in a v to complete the wave 2 correction

 

after that i expect a wave 3 up to start. these are just expectations we will see. based on what i am seeing we could be 2 weeks away from a bottom it is hard to tell but i am not buying anything right now

 

aem is a bargain as is nem and wpm is holding up very well in this sell off. do your own due diligence i am watching 

[gannman]

http://www.kitco.com...os-2018-Outlook

 

 

good for the bulls imo