1565 replies to this topic

[senorBS]

just a thought here more along fundamental lines but i am wondering if what is going on in the general market will at some points push some of the public

 

into a store of value like gold. it would probably take a crash of titantic proportions to do that and maybe not even then

thats what I have been posting about today, if this latest budget deal passes the last chance of any fiscal restraint goes with it and it may be one of those straw that breaks the camel's back sorta things. Budget deficits keep expanding, rates rise no matter what the market does, stock markets decline, currencies a mess, gold perhaps finally gets a little love? 

[senorBS]

ended the day about 22% long, I continue to be cautious as I still think it possible we could get a 5-10% final plunge here.in the miners. I'd love to see it and If that happens I think it would coincide with a potential big Fri/Monday stock market cave in, but trying to predict something like that is impossible. But its always good to be prepared and have some "potential scenarios". I can make a case for a bottom sooner, SIL for example barely took out its Dec low, joining the HUI/Gold ratio in that camp - I wonder of other miner indices/ETF's will do the same or we will have a more "ragged bottom". Buckle up gang!

 

Senor

[dougie]

Ragged or plunge is my call. Kill the bugs is modus operandi.

[Smithy]

Senor, your views on S&P? 

[senorBS]

Senor, your views on S&P? 

I am bearish on stock market overall, added another small NEM tranche at 36.36 and started CDE at 7.54 this mornin, about 27% long, as always DYODD

 

Senor

[senorBS]

Senor, your views on S&P? 

My opinion is that at worst the recent new low in S&P and NYA was 5 down from the highs, so its possible we could rally back to prev 4th highs earlier this week, as always DYODD

 

Senor

[dharma]

gdx has taken out its december lows.  the gold/gdx ratio is at very compressed levels, which isnt to say  it cant become more compressed. gold is a good distance from its december lows. will there be a capitulation in the miners.? it seems the market is on a search and destroy mission. i could nt pull the trigger yesterday.  so far more hourly divergences and very oversold on the daily , but still groping for a bottom

i am not a fan , but he has stuck to this call

http://www.ganngloba...d32483469d37e8d

at some point w/this compression , i have to think the miners will race. the question is when and from what level??? interesting to me that gdxj has not taken out its december low.  while gdx has

waiting 

dharma

Edited by dharma, 09 February 2018 - 12:35 PM.

[senorBS]

gdx has taken out its december lows.  the gold/gdx ratio is at very compressed levels, which isnt to say  it cant become more compressed. gold is a good distance from its december lows. will there be a capitulation in the miners.? it seems the market is on a search and destroy mission. i could nt pull the trigger yesterday.  so far more hourly divergences and very oversold on the daily , but still groping for a bottom

i am not a fan , but he has stuck to this call

http://www.ganngloba...d32483469d37e8d

at some point w/this compression , i have to think the miners will race. the question is when and from what level??? interesting to me that gdxj has not taken out its december low.  while gdx has

waiting 

dharma

the chickens are coming home to roost as the gvt continues its utter disregard for any semblance of fiscal sanity, for now EVERYTHING is in sell mode, at some point miners will catch a bid but we may have a couple day capitulation along with stocks in general. NEM is holding up better than most but there is some serious carnage going on here and it may get really ugly into the close, keeping the rest of my powder dry for now. There is a count where this is the latter stages of wave 2 in GDX and it bottoms modestly below 20.89 in C of an ABC X ABC double zigzag decline, however I can''t rule out it may try to go below the Dec 2016 low at 18.58.

[gannman]

i think we are five to 10 trading days away from a bottom. i would call this the end of wave 2 

 

if so and we actually start a wave 3 out of this we should see a large increase in volume as we

 

get into it. 

[senorBS]

 

gdx has taken out its december lows.  the gold/gdx ratio is at very compressed levels, which isnt to say  it cant become more compressed. gold is a good distance from its december lows. will there be a capitulation in the miners.? it seems the market is on a search and destroy mission. i could nt pull the trigger yesterday.  so far more hourly divergences and very oversold on the daily , but still groping for a bottom

i am not a fan , but he has stuck to this call

http://www.ganngloba...d32483469d37e8d

at some point w/this compression , i have to think the miners will race. the question is when and from what level??? interesting to me that gdxj has not taken out its december low.  while gdx has

waiting 

dharma

the chickens are coming home to roost as the gvt continues its utter disregard for any semblance of fiscal sanity, for now EVERYTHING is in sell mode, at some point miners will catch a bid but we may have a couple day capitulation along with stocks in general. NEM is holding up better than most but there is some serious carnage going on here and it may get really ugly into the close, keeping the rest of my powder dry for now. There is a count where this is the latter stages of wave 2 in GDX and it bottoms modestly below 20.89 in C of an ABC X ABC double zigzag decline, however I can''t rule out it may try to go below the Dec 2016 low at 18.58.

 

so GDX did take out that 20.89 low by 5 ticks and GDXJ failed to take out comparable low by 4 ticks, so IF GDX had 5 up from Dec 2016 to Feb 2017 then a double zig could have ended today or could work a bit lower next week. NEM coming back very nicely at 36.50, very interesting juncture, just holding what I have