262 replies to this topic

[Russ]

What is GSR?

This chart is showing some nice divergence on money flow...


http://stockcharts.c...85742545250.png

end of the month post Turkey day stealth metals rally, I like what I see so far
and GSR likely put in a final top above 63, nice daily technical divergence. In addition I have a chitload daily and weekly and even monthly technical divergences in the HUI and GDX into the marginal new lows we just made below the June lows, and of course sentiment is extremely negative just like it was at those June lows. Note that June was the momentum low (3rd wave) and this weeks new HUI and GDX lows were very likely completion 5th waves given all the higher momentum readings. Time will tell and this is only a small rally so far but this is the best setup for a major bottom in a long, long time IMO

BSing away

Senor

[dougie]

any read of the charts here is bearish
but hey gdx was up today

Here's a Q 4 U to ask yourself on turkey day - what do U think the intermediate to long term risk/reward is in the GDX from these levels? My OPINION is 10-15% downside and 100% upside at a minimum - what is yours and NO BS answers please, just a simple answer.

Senor

My thought is that the REAL 100 % rally awaits late 2014 but otherwise we dont disagree

[dougie]

[quote name='Russ' date='Nov 29 2013, 11:31 AM' post='678284']
What is GSR?

Gold Silver Ration

[Russ]

Gold Silver Ration

tnx dougie

[dharma]

i have never seen so many calls for lower #s not a usual event sentiment is ripe for the market to rally then keep on rallying while the bears continue to short. dont claim this is the bottom , but it sure looks like the conditions are ripe. havent read something friendly for gold in quite some time other than the usual guys w/their pom poms dharma

[senorBS]

i have never seen so many calls for lower #s
not a usual event
sentiment is ripe for the market to rally
then keep on rallying while the bears continue to short.
dont claim this is the bottom , but it sure looks like the conditions are ripe.
havent read something friendly for gold in quite some time
other than the usual guys w/their pom poms
dharma

yeah amigo, agree that "conditions are ripe", we are even seeing monthly GDX and HUI technical divergences against the June low and it's only about probabilities and best guesses. By the way there was no monthly RSI divergence at the 2008 huge bottom. In June the monthly RSI was more oversold then the 2008 bottom, we just saw new intramonth and monthly closing lows (below June) in November with monthly RSI oversold but at a higher level than June. Thus guarantees nada, but sure makes is very interesting, especially if prices start turning sharply norte.

BSing away

Senor

[dharma]

good points senor. its quite amazing how oversold the whole sector is. and yet the bit coin soars. and what are bit coins really? @some point in the future folks will be heading this way Massive Gold deliveries in Shanghai Thursday, 551,000 ounces! anyone notice how many contracts are being held for the december contract? today is 1st day delivery notice! something up? we may not be there yet, but sure is being set up dharma

[dougie]

"especially if prices start turning sharply norte" This product is meant for educational purposes only. Any resemblance to real persons, living or dead is purely coincidental. Void where prohibited. Some assembly required. List each check separately by bank number. Batteries not included.

[senorBS]

"especially if prices start turning sharply norte"
This product is meant for educational purposes only. Any resemblance to real persons, living or dead is purely coincidental. Void where prohibited. Some assembly required. List each check separately by bank number. Batteries not included.

looks, acts, and smells like a possible final capitulation phase to me, we see


Senor

[dougie]

phase as in hours, days, weeks or months?