emerging wave 3
#611
Posted 14 March 2018 - 12:45 PM
#612
Posted 14 March 2018 - 01:17 PM
one big reason I exited miner longs this morning was that I think NYSE and Dow likely ended large corrective rallies from 5 down declines into Feb 9 lows, we could now see a hellacious wave C or 3 down below that Feb 9 low and it may take miners with it somewhat, perhaps just enough to take out the GDXJ below 29.88 Feb 9 low - we "might" have ended a contracting tri in GDXJ today (wave "e") from that low. However noting is high confidence in the miners IMO
Senor
Agreee with overall market. Things could get ugly
#613
Posted 14 March 2018 - 02:20 PM
well dow down 300 gdx up on the day.
there is something different! and that w/gold down on the day
not normally what you would expect
dharma
#614
Posted 14 March 2018 - 03:12 PM
well dow down 300 gdx up on the day.
there is something different! and that w/gold down on the day
not normally what you would expect
dharma
yeah, I bot modestly into the close, had to be a bit long, now about 15% long
Senor
#615
Posted 15 March 2018 - 09:24 AM
Well that was a pretty weak attempt at a launch...stopped out of Silver overnight for a scratch trade, and sold the gold at 1323 for a couple of bucks profit, and reversed short for a bit.
When it tries, and tries, and tries to go one way for a good while and finally gives up the ghost, it often heads the other way for a while....
Ready to flip back to long side should Gold climb back over 1325.
In the meantime, just watching to see how much damage bears can to today...an hourly close under 1315 would suggest it could be meaningful....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#616
Posted 15 March 2018 - 10:26 AM
so the market seems to have tipped its hand. another trip down. i am watching to see if we can break support 1309-10 or if this is just another fake. abx is hangin in there. at some point the miners will be in strong hands. so far these stocks are dumped on every metal move down. i suspect this down move doesnt last very long. lets see if any price damage occurs. i am in wait mode. as the market is giving no indication it is ready to do much of anything. i do think 18 will be an excellent year for the metals and my interpretation of the 70s fractal supports that
bears probing
dharma
#617
Posted 15 March 2018 - 10:46 AM
so the market seems to have tipped its hand. another trip down. i am watching to see if we can break support 1309-10 or if this is just another fake. abx is hangin in there. at some point the miners will be in strong hands. so far these stocks are dumped on every metal move down. i suspect this down move doesnt last very long. lets see if any price damage occurs. i am in wait mode. as the market is giving no indication it is ready to do much of anything. i do think 18 will be an excellent year for the metals and my interpretation of the 70s fractal supports that
bears probing
dharma
I think so too, exited quickly this morning the (15%) position (all GDXJ) I had established late yesterday for a loss. With this mornings decline it now looks to me like GDXJ likely ended yesterday a wave "e" of a contracting triangle from Feb 9 bottom and at a minimum should thrust below that Feb 9 low at 29.88, a post tri thrust is an ending pattern so we have a good chance to get a bueno low if this pattern plays out as expected, we see
Senor
#618
Posted 15 March 2018 - 11:07 AM
so the market seems to have tipped its hand. another trip down. i am watching to see if we can break support 1309-10 or if this is just another fake. abx is hangin in there. at some point the miners will be in strong hands. so far these stocks are dumped on every metal move down. i suspect this down move doesnt last very long. lets see if any price damage occurs. i am in wait mode. as the market is giving no indication it is ready to do much of anything. i do think 18 will be an excellent year for the metals and my interpretation of the 70s fractal supports that
bears probing
dharma
I think so too, exited quickly this morning the (15%) position (all GDXJ) I had established late yesterday for a loss. With this mornings decline it now looks to me like GDXJ likely ended yesterday a wave "e" of a contracting triangle from Feb 9 bottom and at a minimum should thrust below that Feb 9 low at 29.88, a post tri thrust is an ending pattern so we have a good chance to get a bueno low if this pattern plays out as expected, we see
Senor
agree . we could be in 5 of c here. stepping back to see how it plays out . the round # is big psychological support so far on the previous probes it wasnt tested. the thing is to step back and be ready to pounce. so far volume is extremely light . the day is still young. probing continues
dharma
Edited by dharma, 15 March 2018 - 11:14 AM.
#619
Posted 15 March 2018 - 11:09 AM
I think so too, exited quickly this morning the (15%) position (all GDXJ) I had established late yesterday for a loss. With this mornings decline it now looks to me like GDXJ likely ended yesterday a wave "e" of a contracting triangle from Feb 9 bottom and at a minimum should thrust below that Feb 9 low at 29.88, a post tri thrust is an ending pattern so we have a good chance to get a bueno low if this pattern plays out as expected, we seeso the market seems to have tipped its hand. another trip down. i am watching to see if we can break support 1309-10 or if this is just another fake. abx is hangin in there. at some point the miners will be in strong hands. so far these stocks are dumped on every metal move down. i suspect this down move doesnt last very long. lets see if any price damage occurs. i am in wait mode. as the market is giving no indication it is ready to do much of anything. i do think 18 will be an excellent year for the metals and my interpretation of the 70s fractal supports that
bears probing
dharma
Senor
#620
Posted 15 March 2018 - 12:25 PM
That part about "at a minimum "should put fear into all
I think so too, exited quickly this morning the (15%) position (all GDXJ) I had established late yesterday for a loss. With this mornings decline it now looks to me like GDXJ likely ended yesterday a wave "e" of a contracting triangle from Feb 9 bottom and at a minimum should thrust below that Feb 9 low at 29.88, a post tri thrust is an ending pattern so we have a good chance to get a bueno low if this pattern plays out as expected, we seeso the market seems to have tipped its hand. another trip down. i am watching to see if we can break support 1309-10 or if this is just another fake. abx is hangin in there. at some point the miners will be in strong hands. so far these stocks are dumped on every metal move down. i suspect this down move doesnt last very long. lets see if any price damage occurs. i am in wait mode. as the market is giving no indication it is ready to do much of anything. i do think 18 will be an excellent year for the metals and my interpretation of the 70s fractal supports that
bears probing
dharma
Senor
never know with an "el thrusto" IF that is what it is, still would not surprise me if we do not go that low but for now I think I need to allow for that
Senor