29 replies to this topic

[senorBS]

gold just in the last hour eked out a marginal new decline low at 1250 (now near 1255), setting up a very nice and potentially bullish string of 2-8 hourly RSI divergences at oversold levels. This to me looks like potential final 5th wave action and suggests the downward post triangle thrust from 1301 has either ended or could be very close to doing so, we see BSing away Senor

[gannman]

u know i was looking at some of the stocks like fnv u could say from may 12 we did wave 1 thru 4 and this is the final wave 5 down. that would be the most bullish count which would fit with your scenario. we as always will see which is no b.s.

[senorBS]

u know i was looking at some of the stocks like fnv u could say from may 12 we did wave 1 thru 4 and this is the final wave 5 down. that would be the most bullish count which would fit with your scenario. we as always will see which is no b.s.

well gold took out that 1250 low and is now near 1246-1247, miners actually trading fairly decent so far, however it is a Friday so I think it unlikely we see any dramatic action from here today

BSing away

Senor

[gannman]

looking at aem if (and thats a big if) it started its final leg down today around 9 58 am then it has one more thrust lower to either make a new low or try to make a new low. i am watching it closely ha ha . i actually think we see a very good week for the miners next week. i dont believe they can take them that much lower

[senorBS]

Some silver levels to keep in mind. The weekly "closing low" for this entire bear market was 18.91 registered 1st week of July, 2013 - that may be broken today, last years daily closing low registered late June of last year was 18.58. Senor

[tria]

FWIW Bought 1/3rd of a long Gold trading position $1244 I may be early but the price looks reasonable. 1220′s and even 1180′s if seen next month will be great. -tria

[pisces]

FWIW
Bought 1/3rd of a long Gold trading position $1244
I may be early but the price looks reasonable.
1220′s and even 1180′s if seen next month will be great.

-tria

my target for DUST remains at $34.00,therefore we should see your lower levels. but I have been wrong before.

[tria]

My 1/3rd buying today was going contrary to the fund managers who do not wish to show any PM exposure to their clients in their May, monthy statement. -tria

[tria]

My 1/3rd buying today was going contrary to the fund managers who do not wish to show any PM exposure to their clients in their May, monthy statement.

-tria

In addition in EW terms the count looks almost coplete or soon to be completed.

[dougie]

per armstrong this could go MUCh lower