90 replies to this topic

[senorBS]

all boxes checked with new secondary lows across the board, I am watching for now as I have to allow for post tri thrust to new major decline lows which are not at all far away (20.11 GDX), I have an itchy trigger finger and a decent rally from here could trigger that finger, patience for now. BSing away Senor

[senorBS]

for now I have allow for new print lows, note that XAU and HUI if they close in this area will be at major new decline "closing lows Senor

[dharma]

fwiw, i do not think the broad market has finished its decline. i think the next leg down takes out the last leg down. it will generate more fear. i see the broad market bottoming the 1st few days of november. of course the values in the miners is quite astonishing. however, they could amazingly get more under valued dharma

[senorBS]

fwiw, i do not think the broad market has finished its decline. i think the next leg down takes out the last leg down. it will generate more fear. i see the broad market bottoming the 1st few days of november. of course the values in the miners is quite astonishing. however, they could amazingly get more under valued
dharma

what so far appears a classic near term post triangle thrust could potentially bottom right into around your 25th date

Senor

[dharma]

fwiw, i do not think the broad market has finished its decline. i think the next leg down takes out the last leg down. it will generate more fear. i see the broad market bottoming the 1st few days of november. of course the values in the miners is quite astonishing. however, they could amazingly get more under valued
dharma

what so far appears a classic near term post triangle thrust could potentially bottom right into around your 25th date

Senor

that is interesting. i could make a guess.
dharma

[Smithy]

Senor, daily gold in Euros is sporting a clear and explosive count. It raises a deeper question - can wave counts lie? Do I trust it? I lean towards concluding clear counts ** on balance ** should be trusted.

[senorBS]

HUI and GDX major new lows, GDX missed by 7 ticks but day just starting. I bought a small GDX tranche at 20.21, I think this market could reverse norte at any time here Senor

[senorBS]

If one looks at the GDX decline since August a third wave IMO clearly bottomed (as did momentum) Oct 8, the sideways action since then IMO looks like a classic wave 4 contracting tri with the thrust down now well underway with downside momentum very likely to register a higher low against the new price lows. If you take the widest part of the tri and subtract it from wave E the 19.50 level becomes a potential target area. We are seeing many individual stocks offering some good resilience today after the hammering we've seen. My current guess is that what I believe is a fifth wave bottoms somewhere between 19.50 and today's lows, as always DYODD BSing away Senor

[redbrush]

If one looks at the GDX decline since August a third wave IMO clearly bottomed (as did momentum) Oct 8, the sideways action since then IMO looks like a classic wave 4 contracting tri with the thrust down now well underway with downside momentum very likely to register a higher low against the new price lows. If you take the widest part of the tri and subtract it from wave E the 19.50 level becomes a potential target area. We are seeing many individual stocks offering some good resilience today after the hammering we've seen. My current guess is that what I believe is a fifth wave bottoms somewhere between 19.50 and today's lows, as always DYODD

BSing away

Senor

Same idea here. Gold well above its OCT 3 low.

[dharma]

sure seems like a full court press to get everyone who holds anything to do w/gold, to cough it up. yes another capitulation. it is unrelenting. however. there are signs of bottoming action. sentiment #s are still in the gutter also. it feels to me like things are going to reverse, maybe not today, but over the next day or 2. dharma