24 replies to this topic

[dharma]

caution is in order whenever your $$is on the line. its only your money if you ensure so , by playing w/rational stops. the core is a different game. know which game you are paying. the parameters are different for each. the monthly charts- oscillators are just turning up. we are in stage 1 here. it is and has been building a base. a move above the previous highs could be the start of stage 2. i agree on the elliott count. it all looks good, the market does have to prove itself, and it will or not in its own time and space. right now, it seems to me the backdrop is gold friendly. we see if that equates to higher prices. stage 1 is frustrating. the pom pom cheer leaders demand parabola now. while the bank econs have softened their stance a bit. their last call was 1050 for gold . and i am quite sure if it got there, the word would be 680or bust. @these levels most mines are breakeven. this keeps supply in check . by next week, the buying season will begin in india for all their festivals. until then, its the same bs as the last 11/2 years. dharma

[tria]

One should also remember that this week is OPEX for GLD, SLV, GDX, etc. and by looking at the OI in these instruments maybe not much price movement in either way may print so as to feed the sharks with all the $$$premiums paid by the naive option buyers. -tria

[tria]

Sold 1/3rd of my long trading position @ $1315.15 Was carrying a bit too much inventory. -tria

[tria]

I did not like how Gold traded today but was almost expecting that and hence reduced my leveraged trading longs. Tomorrow's action may get me flat on the remaining trading longs. -tria

[senorBS]

gotta wonder if silver needs a wave 5 of C (daily chart) and a marginal new low below 19.73 to finish this potential large correction SLV just took out it's previous decline low and the silver hourly chart IMO does suggest this is likely a post triangle thrust completion, if correct we should make this new marginal/modest new low and then reverse sharply higher, if we don't then something is rotten Senor

Edited by senorBS, 13 August 2014 - 10:17 AM.

[senorBS]

gotta wonder if silver needs a wave 5 of C (daily chart) and a marginal new low below 19.73 to finish this potential large correction

SLV just took out it's previous decline low and the silver hourly chart IMO does suggest this is likely a post triangle thrust completion, if correct we should make this new marginal/modest new low and then reverse sharply higher, if we don't then something is rotten

Senor

OK, both SLV and silver with a new low, NO EXCUSES time if bullish, gotta bottom soon and here if large ABC correction is finishing - it is crunch time!

Senor

[dougie]

that down in SlV looks rather like a channel but there are some nice divergences in hourly on down.

[dougie]

DUST on the other had some lovely positive divergences this AM from dailies down

Edited by dougie, 13 August 2014 - 11:47 AM.

[senorBS]

gotta wonder if silver needs a wave 5 of C (daily chart) and a marginal new low below 19.73 to finish this potential large correction

SLV just took out it's previous decline low and the silver hourly chart IMO does suggest this is likely a post triangle thrust completion, if correct we should make this new marginal/modest new low and then reverse sharply higher, if we don't then something is rotten

Senor

OK, both SLV and silver with a new low, NO EXCUSES time if bullish, gotta bottom soon and here if large ABC correction is finishing - it is crunch time!

Senor

muy bueno so far!!!!!

BSing away

Senor

[dougie]

http://scharts.co/1sCVpE0