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emerging wave 3


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#621 senorBS

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Posted 15 March 2018 - 01:20 PM

GDXJ holding up fairly well, still have to "allow" for a move below 30 but if this is a ugly bottom who knows how and where this right side of a potential 4-5 yr basing pattern will end? a muy tough hombre

 

Senor



#622 dharma

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Posted 15 March 2018 - 01:41 PM

 

That part about "at a minimum "should put fear into all
 

 

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

 

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

 

not so sure, it could be a zigzag  it could also be a flat.  at this point i am just waiting.  volume extremely light=no conviction.  and i have no conviction. poised to act when i see something i like. right here right now.  waiting

dharma



#623 dharma

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Posted 15 March 2018 - 02:19 PM

as you know i have been following the 70s market and using it as a fractal to our present market. . 78 was when the market started serious price mark up.  my work shows that when this correction is over  our present market will build into that sort of situation.  i expect the next months to be very strong , we just have to get through this c of 2 . many of the miners as well as gdxj, as senor has pointed out made a triangle for wave 4 . this wave down  will be very interesting. it could be quite revealing depending upon where it ends. i dont think 1307 needs to be taken out.  the miners have gone their own way. so could be trickier

i am ready to pounce

dharma

ps will mueller bring down trump?   


Edited by dharma, 15 March 2018 - 02:24 PM.


#624 gannman

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Posted 15 March 2018 - 04:14 PM

aem breaking down to complete its pattern from jan 25 

 

just watching 


feeling mellow with the yellow metal


#625 Smithy

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Posted 16 March 2018 - 09:39 AM

Senor, I see 5 waves down on my hourly spot gold chart from the recent 1330 peak. You draw any conclusions from that?



#626 dharma

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Posted 16 March 2018 - 02:44 PM

while  the bears seem to be baiting the bulls and the market is at a stand still

i thought i would mention that on the 26th china begins its new oil for yuan for gold contract.  it is interesting that in the last week china and russia both unveiled their new hypersonic missiles which move along at 10x the speed of sound.  is the usa behind in this technology? seems so . i find this new contract fascinating in its implications. of course when hussein and gaddafi tried moving away from the petro dollar, they were promptly sent to other realms

https://www.milesfra...dard-of-living/

and this 

dharma

should be interesting effect on the gold market 



#627 senorBS

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Posted 16 March 2018 - 03:34 PM

Senor, I see 5 waves down on my hourly spot gold chart from the recent 1330 peak. You draw any conclusions from that?

agree but 5 of deep C or 5 of what? sorry, was skiing all morning, bot a little GDX before I left near 21.34 and some NEM very late session, between 10-15% long here. Just really have my doubts we go much lower but have to be cautious because downside risk remains. Probably good to have a modest core position here. GLD and SLV both made marginal new closing lows today for this decline since the late Jan possible 5 up highs - is a correction ending or do we go lower? We are oversold here but can get moreso, is this more of the ugly bottom stuff or do we have more downside? Tough market here but havin a hard time so far going much lower



#628 gannman

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Posted 17 March 2018 - 01:07 PM

i think that much more important than what ever the fed says is the mar 26 event in china

 

 

i am looking for a lot higher prices and for a sustained rally.  that requires some major fundamental 

 

change imo. what is happening in china has the potential to do this. a wave 3 will start at sometime

 

whenever it starts it is ok with me . this whole 19 months of trading has been a correction. that means 

 

an impulse is coming when it  is ended


feeling mellow with the yellow metal


#629 gannman

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Posted 17 March 2018 - 01:15 PM

and i am NOT worried about the short term swings dont care


feeling mellow with the yellow metal


#630 jabat

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Posted 17 March 2018 - 04:20 PM

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