26 replies to this topic

[senorBS]

Still hold the juniors and explorers and they have done muy bueno. A big pullback lies ahead in Senor's opinion. PURE BS Senor

[dharma]

yes, i agree, but from where that is the question?! i still it has a good chance to go higher. 980-1040 was my range and 987 was today, somehow i am not sold on today as the top, we shall see dharma

[inamosa]

I agree. We are in the zone for a multi-week top. However, as dharma says, we could still easily head higher. The point is that if you're a short-term trader of the miners and/or gold, you should be looking to take at least partial profits here. (Of course, I'm not a short-term trader of these items, but rather a long-term investor in them)

[dougie]

todays action was encouraging imo

[dharma]

todays action was encouraging imo

how so? dharma

[dougie]

i am not nearly as long as i would like to be and my juniors rocked

[tradermama]

yes, i agree, but from where that is the question?! i still it has a good chance to go higher. 980-1040 was my range and 987 was today, somehow i am not sold on today as the top, we shall see
dharma

Dharma,
Wouldn't you consider it kind of bearish at least short term if we didn't make a new gold hi past $1007..(Feb's hi's)..before the turn down?....especially when May is normally a strong month for gold?..I'm just asking your take because I don't really know but I would consider that a sign of bearish divergence..if we are turning now (short term) in gold when bonds yields are showing the signs of higher interest rates (inflationary) and gold isn't breaking it's Feb's hi? I have a turn date now at this time too like you
..which my next turn date is June 19th..plus/minus 3.

Thanks for your insight..I'm looking to get back into slv when this consolidates more.

Irene

[senorBS]

yes, i agree, but from where that is the question?! i still it has a good chance to go higher. 980-1040 was my range and 987 was today, somehow i am not sold on today as the top, we shall see
dharma

No IMO. Mining stocks look cooked and ripe for a 10-20% decline.

Pure BS

Senor

[dharma]

yes, i agree, but from where that is the question?! i still it has a good chance to go higher. 980-1040 was my range and 987 was today, somehow i am not sold on today as the top, we shall see
dharma

Dharma,
Wouldn't you consider it kind of bearish at least short term if we didn't make a new gold hi past $1007..(Feb's hi's)..before the turn down?....especially when May is normally a strong month for gold?..I'm just asking your take because I don't really know but I would consider that a sign of bearish divergence..if we are turning now (short term) in gold when bonds yields are showing the signs of higher interest rates (inflationary) and gold isn't breaking it's Feb's hi? I have a turn date now at this time too like you
..which my next turn date is June 19th..plus/minus 3.

Thanks for your insight..I'm looking to get back into slv when this consolidates more.

Irene

the big round #s are big psychological resistance. fwiw imho i think that we test 1k here and then do as senor suggests. and i consider it constructive look @the inverse h&s pattern.this is a process. keep your ears to the ground. what is going to happen , i think, is a loss of confidence in government, its currency, and who it represents. this all takes time. when i was a child the dollar was as good as gold. we have come a long ways and we still have a long ways to go. this market will end in a parabolic blowoff. until then its backing and filling . 2 steps foward and 1back. i want to have cash for the last bash under 1k. this will end the facade of deflation. we could have never been able to pay off the massive debts anyway. look @germany after ww1. in the end debt is always the killer. for 40 years bankers have devised devices to get the public deep in debt, well they succeeded . 70%of the economy was consumer spending
dharma

[dharma]

we are topping here and i am using the opportunity to lighten up. will be doing some each day this week until i am where i want to be. looking for a summer buying opportunity. dharma