7 replies to this topic

[gannman]

stocks are very overbought but refuse to go down. cot data negative. what is your take

[gannman]

i think im going to take some profits a little bit higher here but still keep a core position. at least based on what i am seeing now.

[gannman]

im thinking the hui wants to run up to the 260 area of the previous peak. that is quite common on the first leg of an impulse wave. and then pullback some.

[dharma]

in the short term, next couple of weeks, i dont base anything on that. the cot could change as quickly as we got here. 2 weeks ago the cot looked supportive of higher prices. so, i watch the cot, but dont base long term decisions on it. imo its a short term indicator. i see stuff later in the month that will support higher prices and that is where my attention is. i sold a bit into the highs, so i am off margin . i have room to buy and will if we have a pullback. once 14 hit the wheeler war cycle came into play. its not about inflation/deflation. its about discontent w/govts worldwide. once trust becomes a factor, then you are in golds domain. here we are . to boot , there are many hot spots in the world right now. in a period in 79 russia invaded afghanistan, the shah of iran was toppled , and this w/a backdrop of inflation. we are seeing inflation turn up. there are so many hotspots. argentina cannot make its next payment,then what? who gets caught holding the bag?yes, we had a horrendous 3 yr bear market , which made huge impressions. the environment is changing. are bonds the safe investment they are made out to be? just asking!who do you trust? dharma

Edited by dharma, 30 June 2014 - 03:04 PM.

[senorBS]

I exited half of my miner/silver ETF longs today, just being careful and I was very loaded. Silver/miners have been leading and gold made a new high by itself today unconfirmed by miners/silver. I believe that this could be a fifth wave thrust completion leg in gold and B waves in miners/silver, therefore we could correct quite a bit from here. However I cannot rule out prices extending higher so I do remain witha much pared back long position BSing away Senor

Edited by senorBS, 30 June 2014 - 04:22 PM.

[stubaby]

I exited half of my miner/silver ETF longs today, just being careful and I was very loaded. Silver/miners have been leading and gold made a new high by itself today unconfirmed by miners/silver. I believe that this could be a fifth wave thrust completion leg in gold and B waves in miners/silver, therefore we could correct quite a bit from here. However I cannot rule out prices extending higher so I do remain witha much pared back long position

BSing away

Senor

B Wave in the Miners - yes - "C" Wave should be bought!

stubaby

[gannman]

thanks gentleman !!

[Russ]

I exited half of my miner/silver ETF longs today, just being careful and I was very loaded. Silver/miners have been leading and gold made a new high by itself today unconfirmed by miners/silver. I believe that this could be a fifth wave thrust completion leg in gold and B waves in miners/silver, therefore we could correct quite a bit from here. However I cannot rule out prices extending higher so I do remain witha much pared back long position

BSing away

Senor

B Wave in the Miners - yes - "C" Wave should be bought!

stubaby

Gotta love elliot wave... according to this analyst Gold is in a C wave (target 1343) and should be sold as it then heads for it primary 5 wave low below 1000.

https://www.youtube....y2y4XyyONmAYTjw