22 replies to this topic

[nimblebear]

Kudos to Senor. He foresaw this. The metal itself is still holding above 1k. However, historically equities lead the way up or down. So this could be a prelude to a mal stinko of a gold correction. However I still believe its only profit taking and we will be on our way to new 52 highs in the GDX soon.

and now cinco down in XAU? muy interesting

BSing away

Senor

friend, he has missed this entire up leg in gold, which if you havent noticed is in a bull market. so what did he foresee. gold is @1011! i have no doubt that gold will correct, and i may be wrong on this as there are no divergences @this point. dharma

Si, I did miss this leg norte and I never expect to catch every move, I have no problemo with that - do you? I did not short until very recently so I did not get hurt. You made a bueno call amigo and Kudos to you. The past is now the past, what happens from here is what is muy importante, Senor at the least thinks gold declines to 960, if that happens I will again evaluate.

BSing away

Senor

960 would be a massive gift from the gold g ods.

[senorBS]

Dharma, I am curious what your forecast is from here? Senor thinks 960 is minimum and it could be mucho, mucho lower than that.

NO BS

Senor

i am actually looking @the possibility of 8-850 over the next weeks. its why i think it will be a back the truck up event. it is a wave 2. and we all know what that usually means. but, after this gold will, i believe show its hand and will leave 1k in the rear view mirror.
one interesting , or @least i find interesting tid bit, china is considering stopping the exportation of gold and silver. and they are a major producer.w/o supply prices must rise. of course the paper market is much bigger than the physical market
dharma

Senor

i am open, i better be. i have raised cash . i have 1 tiny position in my trading account. so i am prepared, should a big decline develop. as long as they have control it will be a tug of war. their control will end. and then like last time, @some point they will change the rules. , but i expect much much higher prices 1st.
its a wave 2 is that where you are as well?
dharma

Amigo Dharma, Senor is torn whether the decline we think is coming is a wave dos or a grande wave C. It is muy possible this rally from 680 was a grande B wave and Wave C down to 650 is coming. That amigo is Senor's grande, grande dilemma.

BSing away

Senor

[dharma]

Dharma, I am curious what your forecast is from here? Senor thinks 960 is minimum and it could be mucho, mucho lower than that.

NO BS

Senor

i am actually looking @the possibility of 8-850 over the next weeks. its why i think it will be a back the truck up event. it is a wave 2. and we all know what that usually means. but, after this gold will, i believe show its hand and will leave 1k in the rear view mirror.
one interesting , or @least i find interesting tid bit, china is considering stopping the exportation of gold and silver. and they are a major producer.w/o supply prices must rise. of course the paper market is much bigger than the physical market
dharma

Senor

i am open, i better be. i have raised cash . i have 1 tiny position in my trading account. so i am prepared, should a big decline develop. as long as they have control it will be a tug of war. their control will end. and then like last time, @some point they will change the rules. , but i expect much much higher prices 1st.
its a wave 2 is that where you are as well?
dharma

Amigo Dharma, Senor is torn whether the decline we think is coming is a wave dos or a grande wave C. It is muy possible this rally from 680 was a grande B wave and Wave C down to 650 is coming. That amigo is Senor's grande, grande dilemma.

BSing away

Senor

ok, for me it seems quite clear that this is a 2, and i dont know how long it lasts. there are several cross currents. and it may not last as long as usual corrections. as this correction has lasted 18months @this point in time
dharma