19 replies to this topic

[tradermama]

If GDX hits 43..it will be a pnf buy.. gold needs 1630 and silver now needs 28.50 for Dorsey pnf buys
TM

Thanks for the updates TM

Best to you

GDX got a pnf buy at 44..it wasn't 43 as I stated above..sorry, poor vision!..target now 50..waiting and watching when I will get the RS (relative strength) change to X..
TM

Actually this is the 2nd buy signal for GDX. So that original 43 was correct. Yesterday I got a buy alert and thought I was originally wrong but apparently not. There is definitely some momentum picking up as I'm starting to see even some mutual funds get buy signals. That's a good sign for me to watch also.
TM

Edited by tradermama, 07 August 2012 - 05:30 AM.

[tradermama]

If GDX hits 43..it will be a pnf buy.. gold needs 1630 and silver now needs 28.50 for Dorsey pnf buys
TM

Thanks for the updates TM

Best to you

GDX got a pnf buy at 44..it wasn't 43 as I stated above..sorry, poor vision!..target now 50..waiting and watching when I will get the RS (relative strength) change to X..
TM

Actually this is the 2nd buy signal for GDX. So that original 43 was correct. Yesterday I got a buy alert and thought I was originally wrong but apparently not. There is definitely some momentum picking up as I'm starting to see even some mutual funds get buy signals. That's a good sign for me to watch also.
TM

[tradermama]

I'm gonna try and remember to post any relative strength changes on pnf for any miners/pm's here. I just got an alert that SLW RS reversed to X. The way silver is looking as it keeps holding around 28 and close to a pnf buy at 28.50..this one will benefit greatly and outperform...you want to select stocks/etfs that have their RS to X/RS on a buy and of course the pnf signal on a buy. Right now it has 2 of the 3..it has just turned the RS to X but the RS is still on a sell but that can come later. It has a buy signal as of Aug 8th..target 41 It is overbought on the dailies and right up against its 200 day ma...has room to go up on the longer term charts..but this one would be one to buy on a dip imo. Of course do your own due diligence but I believe the miners are the play here on pullbacks before the metals. Metals will come in time but miners seem to be leading. TM

[tradermama]

Just thought I'd post this about gdx..with pnf..you try and select stocks/etfs that have 4 positive attributes ....one attribute is the trend being positive..gdx's trend according to pnf has been on a negative trend for months now...yesterday I got an alert saying the trend has now turned positive.....this could be the stepping stone to see if the next attribute RS (relative strength) goes on a buy ..and then change the RS to X .. which is another attribute..it is on a pnf buy for the etf..there are 4 attributes..so it has 2 out of the 4..gld has all 4 on buys...slv just one..once we see all of the 3 musketeers with 4 postive attributes..imo, we have a longer term rally..remember, pnf is just supply/demand..has nothing to do with volume or indicators...you mainly use pnf combined with other TA..for trendwatch and knowing if the buy on dip mentality is there. As long as gold doesn't close below 1570, before the 23rd of Aug..it has a chance to move up nicely due to the Mars in Scorpio transit beginning Aug 23rd...however closing below 1600 can be a warning of test of that 1570..so 1600+ before Aug 23 and the miners should continue their march higher..I"ve noticed they have been leading more too..we'll see TM

[tradermama]

one piece of interesting historical information on the broad market from Dorsey this morning..he pointed out that there has only been 3 times (since 1930) in August that the spx made a new 52 week hi....the most recent time that the spx made a new 52 week hi in August was 1987 which was when the spx closed the year beneath the August's lows. Of course, this is an election year too TM

[tradermama]

improvements are continuing..Dorsey's Precious Metal index went to a buy..it's been a while since that was a buy..I'm getting more mutual funds on a buy too..and improving attributes for some miners..one being AEM..just got another one yesterday....all positive across the board..attributes are like the pnf buy signal,RS buy signal, RS trend, RS turn to X.. ..there are 4..AEM has all 3..it just needs the RS to turn to a buy..yesterday it got a positive trend change...one of the best ones I have is fnv..it has 4 attributes....again, this has to do with supply/demand..we know AEM has been on a positive trend..but this is viewing it from a supply/demand viewpoint TM

[tradermama]

watch silver..it's been knocking at 28.50 but hasn't hit it yet..28.50 is a pnf buy..this week we came close 28.49..and last week we were close..and again we are close today...has not been on a buy since 6/28..slw has now closed over its 200 day...it was extremely strong yesterday with buying continuously...it knocked like 5 times on its 200 day before it went thru...gdx knocked 2 times at 44..gold is trying to keep knocking that 1620-1630 area so all this knocking we might be a rocking.. TM

Edited by tradermama, 17 August 2012 - 07:56 AM.

[tradermama]

silver got a pnf buy!! Aug 23-Oct 5 favorable for pm's..haven't seen a buy on silver since June.. TM

[tradermama]

silver got a pnf buy!! Aug 23-Oct 5 favorable for pm's..haven't seen a buy on silver since June..
TM

gold got a 2nd pnf buy signal..now a triple top spread which has an 80% reliability..target 1780..doesnt mean gets to its target..but odds increased higher we have a significant rally..a sell would come in at 1580
TM

Edited by tradermama, 22 August 2012 - 06:05 AM.

[tradermama]

silver now has it's RS (relative strength) turn to X..more fuel to the fire that the rally continues..buy the dip! TM