178 replies to this topic

[senorBS]

here's how I am viewin it for recent more agressive Silver positions I have taken, a sustained decline below 20.95-21.00 will have me exit those positions looking for further downside corrective action Senor

[dharma]

all i know is we need to get above 1358 on a closing basis , if that were to occur an assault on higher prices is in store. if not , then a larger correction can occur. the miners are leading. indicating that inflation is rearing its head. the miners become more valuable in such circumstances. if it was a financial crises, then gold /silver would be the leader. the mines mine what the chinese/indians are buying. this is the phase of the bigger crises that we are in @ present. the crises is going to go through various stages. @this point its a give and take. up 2 steps, down 1. it will build. right now confidence in the sector was lost, its slowly coming back. it takes time. there in the background are the banksters calling for 1k gold. w/the vampire squid leading the call. not very comforting for the bulls. it all takes time. i am watching the drought in brazil and california. w/the tier water system in california , the consumer pays exorbitant water prices , while the farmer pays very low water prices. dharma

[senorBS]

here's how I am viewin it for recent more agressive Silver positions I have taken, a sustained decline below 20.95-21.00 will have me exit those positions looking for further downside corrective action

Senor

got out of agressive positions on drop below mentioned levels, will hold core longs and likely wait for what I think could be lower lows in silver and perhaps HUI/GDX/XAU - tough near term counts there and might have "b" wave contracting triangles developing

Senor

[dharma]

could be a triangle pattern here?! dharma

[dharma]

well we broke into the next price cycle , the next #in the cycle is 1375. my attention remains on the largest gold buyers in the world , the indians. their election is not that far off now. the front runner is modi. he is pro gold. their entire jewelry industry is in shambles. smuggling is the order of the day. getting him elected will change things. if you look to his home state of gujarat , he raised the standard of living in that state, promoted education, and improved the life.there. lets see what chidambaram and his bankster colleagues do? india is the buyer of what the miners produce! they are buyers based on religion, not price. it is ingrained in them over generations. i am also watching the supply line for silver, take that out, and the hedgies and algo traders enter the game. all the while if you talk to the public, they are sufficiently afraid of putting one red nickel into anything metals related. they will buy when the excitement is underway. the fed is next week, keep that in mind. of course they are trapped, but most are not aware of that. yes, you can find them lodged @the hotel california. such a lovely place dharma

[dougie]

still like this read of things:

http://scharts.co/1cTJHcd

[senorBS]

with the caveat that SLV obviously is only NY trading it has a very nice 5-wave rally off Tuesday's 19.87 decline low and is already workin on a correction Senor

[JGUITARSLIM]

Some simple daily charts.
Key test coming up GDX.
GDXJ great looking volume pattern.
Gold broke resistance level yesterday.

[senorBS]

another boring day in the miners, HUI again making new rally highs......amd I hear nor read almost anything about it - no excitement at all, bueno stealth rally BSing away Senor

Edited by senorBS, 13 March 2014 - 09:57 AM.

[dharma]

jg- gdx and gdxj are in a pennant or flag pattern , ie, they have built a base for an upward thrust. volume supports that thesis. normally in a consolidation volume consolidates also. not the case here. indicates to me that there is accumulation taking place. today, we are consolidating the gains of yesterday. not unusual. i watch crude in the late 70s gold and crude were a glove on a hand type of relationship. for the last years, since early 11 crude oil has been consolidating, building a large base for a big up move. in the gold/miners/silver/miners. i look for the possibility of consolidation here, before further gains. the fed meets next week. towards the end of bernake, gold was drubbed after he spoke, have to see if a pattern develops w/the new fed head. above the 1434 and the double bottom pattern activates. yes, there are inverse h&s patterns as well. for me the glaring pattern is the double bottom. dharma by the way on the 10th there was a strike in several indian cities protesting the high tax and the 80/20 rule for jewelry manufacturers. lets see if/when the banksters relent!

Edited by dharma, 13 March 2014 - 10:12 AM.