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bottoming?


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#21 goldfungus

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Posted 10 September 2014 - 03:04 PM

that is the point! all fiats are in a race to zero! the hoard has not realized that yet so there is calm. look @ the vix yesterday. complacency rules, when the light switch goes on, gold will be in a run. now , its all the flim flam. its all being bought by the public. Butt, for how much longer????? meanwhile the police are being militarized.
dharma


Hey, the BOJ is buying government debt with negative yield! I don't know what the problem is. LOL

#22 senorBS

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Posted 10 September 2014 - 04:45 PM

i posted hgnsi the other day, for fridays action. sentiment is so bearish. NOW hulbert, w/all the qualifiers has become bullish
http://www.marketwat...p;utm_source=tf
dharma


now the GRANDE question is whether this is an extreme seen at a wave 2 pulback and prices quickly recover, or if we might see sentiment stay at these levels for a few to several weeks as prices keep declining? On a razor's edge IMO

Senor

#23 dharma

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Posted 10 September 2014 - 05:29 PM

i posted hgnsi the other day, for fridays action. sentiment is so bearish. NOW hulbert, w/all the qualifiers has become bullish
http://www.marketwat...p;utm_source=tf
dharma


now the GRANDE question is whether this is an extreme seen at a wave 2 pulback and prices quickly recover, or if we might see sentiment stay at these levels for a few to several weeks as prices keep declining? On a razor's edge IMO

Senor

well that is a tough call. seems to me gold is oversold and bottoming.
the broad market is way overbought and topping???
we are in the season for something to happen
i have a position , lets see if the market supports my thinking
dharma

#24 dougie

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Posted 10 September 2014 - 05:58 PM

we could see a swift sell off too 1100s here Say 1178?

#25 senorBS

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Posted 10 September 2014 - 07:34 PM

i posted hgnsi the other day, for fridays action. sentiment is so bearish. NOW hulbert, w/all the qualifiers has become bullish
http://www.marketwat...p;utm_source=tf
dharma


now the GRANDE question is whether this is an extreme seen at a wave 2 pulback and prices quickly recover, or if we might see sentiment stay at these levels for a few to several weeks as prices keep declining? On a razor's edge IMO

Senor

well that is a tough call. seems to me gold is oversold and bottoming.
the broad market is way overbought and topping???
we are in the season for something to happen
i have a position , lets see if the market supports my thinking
dharma



I have a small core long, mostly cash, waiting to see if we keep dropping or see a bottoming sign, nothing yet but the bottom "ingredients" are there IMO

Senor

#26 senorBS

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Posted 11 September 2014 - 07:38 AM

What does Gold do from here? Possibilities to ponder:

1. This is a very, very deep retracement of the rally from June to July (1240-1345) and is done - is anyone at all buying here?

2. we are still correcting a 5-wave rally from last Dec to March (1182 -1388) and need to at least take out 1240 before that is complete

3. We are going to major new decline lows below 1180

I have no strong inclination at this time

Senor


Door #1 has been eliminated so now it's either #2 or #3 with the new gold low at 1238

Senor

#27 senorBS

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Posted 11 September 2014 - 07:52 AM

If Gold's correct outcome is behind door #3 then I think the wave pattern could be as follows: from the June 2013 low gold then completed wave E (July high at 1345) of a large contracting triangle and now we might be thrusting down below 1180 for a final low, we see Senor

#28 senorBS

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Posted 11 September 2014 - 07:58 AM

very interesting here as silver at the overnight 18.637 (netdania) low hit the lowest level since the week of the June 2013 major bottom which was at 18.20 Senor

#29 senorBS

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Posted 11 September 2014 - 09:05 AM

On the bullish front there is a "potential" very large divergence developing and let me stress "potential", the GDX/GDXJ are still well above their late May/early June lows while gold and silver today took those respective lows out, as I said very interesting here Senor

Edited by senorBS, 11 September 2014 - 09:10 AM.


#30 dharma

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Posted 11 September 2014 - 10:20 AM

yes, gld took out its hourly divergences, just oversold. gdx made new lows , but divergences on the hourly still in tact. gdxj has not made new lows. sentiment keeps getting more and more lopsided. being cautious in here. just waiting. no adding waiting. the sell side of the market is still dominant dharma