MA panic cycle for Gold - the week of Feb. 2nd. "Gold has been starting to realign rallying with the stock market. This is a good sign for the long-term. The Weekly Bullish stands at 1322.50 while the Weekly Bearish lies at 1236.10 and this is a virtual Double since we have also one at 1236.30,. Technical support on a weekly closing basis rests at 1275." From what he has written on Gold realigning with the stock market, he may be throwing in the towel on gold breaking below the late 2015 low. Above 1362.50 on a monthly close would signal a breakout but he does not think that likely until 2020 - after the next major pi cycle date Jan. 18/19 2020.
bottoming process continues
#291
Posted 17 January 2019 - 10:30 PM
"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/
#292
Posted 18 January 2019 - 11:02 AM
Continue to like the action here, especially in the MERGER TWINS GOLD and NEM. Both appear to be putting in big wave 2 bottoms near area (NEM spiked below for a few days and GOLD today bottomed 20 cents above) of .618 retracements of their rallies off last years lows. Like NEM's action today - a sustained rally above 32.05 would IMO be first indication that the bottom is in. Added Gold and GDX positions this morning, now about 35% long, as always DYODD
Senor
#293
Posted 18 January 2019 - 11:59 AM
Continue to like the action here, especially in the MERGER TWINS GOLD and NEM. Both appear to be putting in big wave 2 bottoms near area (NEM spiked below for a few days and GOLD today bottomed 20 cents above) of .618 retracements of their rallies off last years lows. Like NEM's action today - a sustained rally above 32.05 would IMO be first indication that the bottom is in. Added Gold and GDX positions this morning, now about 35% long, as always DYODD
Senor
gotta like it "so far" as Nem surges above 32 with gold near session lows, GOLD's key initial resistance is at 12
Senor
#294
Posted 18 January 2019 - 12:17 PM
Continue to like the action here, especially in the MERGER TWINS GOLD and NEM. Both appear to be putting in big wave 2 bottoms near area (NEM spiked below for a few days and GOLD today bottomed 20 cents above) of .618 retracements of their rallies off last years lows. Like NEM's action today - a sustained rally above 32.05 would IMO be first indication that the bottom is in. Added Gold and GDX positions this morning, now about 35% long, as always DYODD
Senor
gotta like it "so far" as Nem surges above 32 with gold near session lows, GOLD's key initial resistance is at 12
Senor
The stocks are going the opposite way of the metal, semibizz has said in the past that stocks lead the metals. I had to day for a low for gdx going back awhile now but my gold chart is showing a low in early feb. I'm happy to see the gold stocks doing well today...
"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/
#295
Posted 18 January 2019 - 12:36 PM
Continue to like the action here, especially in the MERGER TWINS GOLD and NEM. Both appear to be putting in big wave 2 bottoms near area (NEM spiked below for a few days and GOLD today bottomed 20 cents above) of .618 retracements of their rallies off last years lows. Like NEM's action today - a sustained rally above 32.05 would IMO be first indication that the bottom is in. Added Gold and GDX positions this morning, now about 35% long, as always DYODD
Senor
gotta like it "so far" as Nem surges above 32 with gold near session lows, GOLD's key initial resistance is at 12
Senor
The stocks are going the opposite way of the metal, semibizz has said in the past that stocks lead the metals. I had to day for a low for gdx going back awhile now but my gold chart is showing a low in early feb. I'm happy to see the gold stocks doing well today...
I can count this mornings GDX low as a 5 of C possibly ending a correction from the rally highs, lets see if it plays out that way, I am not expecting much from current levels as it appears silver and gold will likely close today near current levels. I am of the opinion that if big money is going to come into the miner sector initially the TWO BIG MAGNETS will be GOLD and NEM - 10 BILLION dollar behemoths with top tier mines, great cash flows and very good financial positions. It is going to take a yr or two for these companies to shed some assets and their focus IMO will be on the mergers, therefore I see less money available for takeovers in smaller stocks for a while, so my focus for now will be on NEM/GOLD and GDX which those are large components of. That's just my opinion and how I prefer to play it here, as always DYODD
BSing away
Senor
#296
Posted 18 January 2019 - 03:33 PM
Senor thank you for sharing your thoughts.
"I am of the opinion that if big money is going to come into the miner sector initially the TWO BIG MAGNETS will be GOLD and NEM - 10 BILLION dollar behemoths with top tier mines, great cash flows and very good financial positions. It is going to take a yr or two for these companies to shed some assets and their focus IMO will be on the mergers, therefore I see less money available for takeovers in smaller stocks for a while, so my focus for now will be on NEM/GOLD and GDX which those are large components of."
I am of like opinion. Having added to my starter position recently in NEM and buying a starter position in GOLD this am. I have owned GDX for some time.
johngeorge
#297
Posted 18 January 2019 - 04:02 PM
well senor i agree and disagree w/you
miners lead. i agree it looks like the miners could have bottomed. i think they will begin to buy jrs sooner than you think they are at mouth watering levels
monday is a holiday
but i think the upside resumes next week
as for marty , like any trader he can change his mind , based on the market. there are so many spinning plates here. i do think could get some serious mojo in 19 yes a feb correction seems baked in the cake
dharma
i am hearing that india is going to have a new gold policy . i am dubious until i see what they say
https://www.iima.ac....ch-centers/igpc
i remember election night the trumpster was going to be elected , then modi called in all notes 50 rps and larger. lines were days long , people actually died waiting in line. so show me
#298
Posted 18 January 2019 - 08:59 PM
well senor i agree and disagree w/you
miners lead. i agree it looks like the miners could have bottomed. i think they will begin to buy jrs sooner than you think they are at mouth watering levels
monday is a holiday
but i think the upside resumes next week
as for marty , like any trader he can change his mind , based on the market. there are so many spinning plates here. i do think could get some serious mojo in 19 yes a feb correction seems baked in the cake
dharma
i am hearing that india is going to have a new gold policy . i am dubious until i see what they say
https://www.iima.ac....ch-centers/igpc
i remember election night the trumpster was going to be elected , then modi called in all notes 50 rps and larger. lines were days long , people actually died waiting in line. so show me
The serious appreciation always happens with the juniors and explorers. That's not to say that 300% is a bad return on the majors.
#299
Posted 19 January 2019 - 01:17 AM
I can count this mornings GDX low as a 5 of C possibly ending a correction from the rally highs, lets see if it plays out that way, I am not expecting much from current levels as it appears silver and gold will likely close today near current levels. I am of the opinion that if big money is going to come into the miner sector initially the TWO BIG MAGNETS will be GOLD and NEM - 10 BILLION dollar behemoths with top tier mines, great cash flows and very good financial positions. It is going to take a yr or two for these companies to shed some assets and their focus IMO will be on the mergers, therefore I see less money available for takeovers in smaller stocks for a while, so my focus for now will be on NEM/GOLD and GDX which those are large components of. That's just my opinion and how I prefer to play it here, as always DYODD
BSing away
Senor
Semibizz's chart he posted on this board does not look so good for Gold in the near term....
"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/
#300
Posted 20 January 2019 - 12:06 PM
i happen to agree russ, we could go to 1250 1st . full moon eclipse on monday. i am awaiting the outcome to see
dharma