bottoming action for the start of a big rally
Started by
dharma
, Jul 10 2018 09:45 AM
631 replies to this topic
#353
dharma
-
- Traders-Talk User
- 9,608 posts
Member
Posted 17 August 2018 - 10:36 AM
on the south side of 1200 its still a bounce. i think this is a wave 4 w/5 to come.
todays cots could be revealing, as i think it may be one of those very rare occasions where
the commercials are long
looking out a bit jupiter goes into scorpio(i do vedic astrology on oct 10 jupiter rules gold
this should begin a more favorable time for gold
dharma
todays cots could be revealing, as i think it may be one of those very rare occasions where
the commercials are long
looking out a bit jupiter goes into scorpio(i do vedic astrology on oct 10 jupiter rules gold
this should begin a more favorable time for gold
dharma
#354
dharma
-
- Traders-Talk User
- 9,608 posts
Member
Posted 17 August 2018 - 02:42 PM
cots http://news.goldseek.../1534534115.php
in addition to another dsi of 6
the large specs are now net short gold
while the commercials took the other side of that and are now net long
this is a very rare occasion when the commercials are net long gold
when this happens it leads to significant bull action
also the commercials are still significantly short the dollar
when they decide to spring the trap is any ones guess but expect the large specs to pay up to cover.
dharma
in addition to another dsi of 6
the large specs are now net short gold
while the commercials took the other side of that and are now net long
this is a very rare occasion when the commercials are net long gold
when this happens it leads to significant bull action
also the commercials are still significantly short the dollar
when they decide to spring the trap is any ones guess but expect the large specs to pay up to cover.
dharma
#355
jabat
-
- Traders-Talk User
- 604 posts
Member
Posted 17 August 2018 - 04:42 PM
Thought I would share this from Bill Fleckenstein:
If You Can't Stand the Hate…On the subject of the metals, a friend sent some data from Jason Goepfert's website in which Goepfert noted that a sentiment measure he has developed, which tracks the collective optimism in gold, silver, and platinum, now ranks at its lowest level in 27 years. So for those of you, like me, who feel like the recent bashing of the metals was seemingly out of proportion and extremely lopsided, you weren't wrong. That appears to be the case.
Lastly, late in the day the CFTC data showed commercials were net long 11,000 contracts (combining futures and options). The last time they were long was in mid-2001 on the bear-market lows. This is a very positive development, so I wanted to be sure readers saw it.
****
Maybe, just maybe, it is our turn for a while.
#357
jabat
-
- Traders-Talk User
- 604 posts
Member
#358
Russ
-
- Traders-Talk User
- 7,193 posts
Member
Posted 19 August 2018 - 11:44 AM
trendline jabit posted is actually much longer and quite important...
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#359
CLK
-
- Traders-Talk User
- 10,787 posts
Member
Posted 19 August 2018 - 01:54 PM
If the dollar breaks over the line, then count on gold lower than $400.
#360
CLK
-
- Traders-Talk User
- 10,787 posts
Member
Posted 19 August 2018 - 02:11 PM
Miners lead ? Ok then, 680 is your minimum target, short term bounce withstanding.
