173 replies to this topic

[Russ]

Interesting take Stu,

What is your view of Gold then?... https://www.tradingv...com/e/zlxAoG8D/

[dougie]

wow : charts like that tell me the bear might have done its work

<:

its friday and the market is up , now that is something different
dharma

Something different about this "potential bottom formation" verses most others: the stair step – seems to be really creating confusion, doubt, and hesitation amongst the PM Bulls. All seem to want confirmation – “just a little higher” and then when we get it there is another drop and the confirmation moves “just a little higher”, keeping most OUT of reentering or adding to positions.

Not convinced "the" bottom is in, but am well positioned for this rally (a bit after Senior BS, but I have been adding on the pullbacks, instead of selling)

IMHO, this is a "swing" (Wave C of ABCDE triangle for Wave 4) and once Wave 4 is complete we will head for new lows, but IF NOT SO BE IT!

stubaby

Hi Stu,

I can see we are in a wave 4 approaching the top of the channel https://www.tradingv...com/e/t6Kf1GGQ/ but not sure about the other things you mentioned.

Could you post a chart showing what you just said? Thanks

Russ:

Talking about Miners here:

http://stockcharts.com/c-sc/sc?s=$HUI&p=W&yr=2&mn=0&dy=0&i=p57885419144&a=330625896&r=159.png

http://stockcharts.com/c-sc/sc?s=$HUI:GLD&p=D&yr=1&mn=0&dy=0&i=p42015741167&a=331729869&r=990.png

stubaby

[Russ]

This is the link for the Gold chart that you can go onto and change things on (previous posts links got changed) https://www.tradingv...com/e/BHVecQnc/

[stubaby]

Interesting take Stu,

What is your view of Gold then?... https://www.tradingv...com/e/zlxAoG8D/

Miners led down - miners lead up.

Gold will "follow" reluctantly as the HUI:GLD Ratio is expanding here. When HUI tops in C Gold will follow. Could move towards the September swing high, but probably fall well short (1,325-1,350 ish)?

stubaby

[dougie]

http://scharts.co/1awsiby

NUGT has a nice breakout pattern here

[Russ]

Interesting take Stu,

What is your view of Gold then?... https://www.tradingv...com/e/zlxAoG8D/

Miners led down - miners lead up.

Gold will "follow" reluctantly as the HUI:GLD Ratio is expanding here. When HUI tops in C Gold will follow. Could move towards the September swing high, but probably fall well short (1,325-1,350 ish)?

stubaby

If gold gets above 1270 it will be breaking out and would then go much higher just based on the long down channel.

[johngeorge]

Regards Gold I am still in the show me camp. I have two key resistance levels that need to be crossed before I can get fully bulled up. First is 1258 and the second is 1370. Miners breaking out today, but, will it last. Doing no trading or accumulating at this time. Watchful waiting

[stubaby]

http://scharts.co/1awsiby

NUGT has a nice breakout pattern here

Nice chart! I try to chart the underlying index ($GDM) as the leveraged funds can over-under shoot support and resistance levels.

stubaby

[dougie]

your 201 fell easily enough but there is a DT line from August highs

so far fails again to sustain a rally above HUI 210, day far from over, tough call here, am flat for now

Senor

[dharma]

http://scharts.co/1awsiby

NUGT has a nice breakout pattern here

Nice chart! I try to chart the underlying index ($GDM) as the leveraged funds can over-under shoot support and resistance levels.

stubaby

hi stu,
notice the rounding bottom in gold. yes, the miners are leading. the key imo was gg putting in a bid for oskff. this shows the majors, think the juniors are cheap. i think their hostile offer for osk is low, would be nice to see a bidding war develop. hey i can dream cant i. there is confusion out there. big volume is coming into the sold out miners=accumulation. yes i am a bull. still from missouri -show me. watching the downtrend line from the aug highs
dharma

Edited by dharma, 17 January 2014 - 02:34 PM.