203 replies to this topic

[senorBS]

muy bueno 5 up (15 and 30 min charts) in silver from 20.49 low to intraday high at 21.52, maybe a pullback to 21.00-21.25 then at least another leg up amd maybe, just maybe a near term tres wave, we see BSing away Senor

[dharma]

yesterday sure looked like a bullish hammer to me gold has been declinning in a bull wedge pattern, slanting down gdx looked pretty sold out yesterday as well and i agree w/senor it looks like a 5 up now the correction to the 5 up the chart painters are picassos be careful dharma

[andiron]

yep///above 1280-1300 those trading on H&S will be spooked..easy money on long trade

[Russ]

yep///above 1280-1300 those trading on H&S will be spooked..easy money on long trade

Now there is an inverse H&S which can be seen nicely on the 5 hour chart here.... http://www.investing...streaming-chart

[senorBS]

liking the "chances" basis daily charts that yesterday's lows "might" have put in very important secondary lows in gold and silver basis daily amd perhaps weekly charts - need a strong rally from here to confirm Senor

Edited by senorBS, 16 October 2013 - 01:43 PM.

[redbrush]

The market maker EDGX, which includes Goldman Sachs and JP Morgan, have been sitting heavily on the offer side of GDX all afternoon. Not sure if they are suppressing the index or working off a lot of blocks.

[johngeorge]

Dollar being hammered down this morning Gold moves higher. KWN interviews Rob Arnott IMO a must listen.

[senorBS]

muy bueno 5 up (15 and 30 min charts) in silver from 20.49 low to intraday high at 21.52, maybe a pullback to 21.00-21.25 then at least another leg up amd maybe, just maybe a near term tres wave, we see

BSing away

Senor

and silver at the 22.20 high may have completed a larger 5 up from 20.49, I like the metasl and dollar action so far, tightening stop to profitable on GDX long

BSing away

Senor

[dharma]

the 1-2-3 month gold contracts are in backwardation. normally gold is contango. this indicates tightness in physical supply and usually takes higher prices to make physical gold more available. the sentiment levels are still @suicidal levels= HGNSI unchanged yesterday at -20% / MarketVane’s Bullish Consensus at 37%. the backwardation in gold occurring again, after the longest stretch of backwardation i have seenback in sept , says the paper sellers are w/o supply. while i love the rally, and its early it still has proved little, it has taken out the down trend line however. that being said, there are still bearish elliot wave possibilities. a few different ones that i see. i still believe however, the june 28th lows were the lows, the market has to prove it and now is a good time. till about mid november there still could be cyclical pressure on the market. 60 and 40yr cycles are difficult to pin point to the day. i understand ganns concept of anniversary dates. and seasonally we should begin the diwali buying season in india. in my opinion any way you slice it, taking on greater debt should be gold bullish and dollar bearish. all they did, was kick the can down the road. the debt will not be repaid. i did my buying now i wait to see if can take out 1337 and then 1350. dharma gs came out w/their slam dunk call on gold getting hammered after the agreement. of course they usually talk out of both sides of their mouth. today , looks like the slam dunkers are being slam dunked! the vampire squid strikes again

[tria]

One can see how the recent increase in Gold's Lease rates fortold Gold's price increase from mid October.

http://www.kitco.com/lease.chart.html

-tria