90 replies to this topic

[tomterrific14]

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

FWIW,

ABX EPS due Oct 29, NEM, Oct 30, Last trade for Cash Settlement for OCT GOLD and SILVER Oct 28. FOMC meeting Oct 28 and 29.

[senorBS]

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

IMO we have the same set up for a key bottom right here as we did last Dec, and I think this time we have higher confidence wave patters for a key final low being nearby. IMO and I stress IN MY OPINION downside risk is 2-3% in GDX and 25-50% upside. Si that is strong statment and I would suggest to wait for some bottom confirmation before establishing any significant longs. and as always DYODD

PureBS

Senor

[dougie]

what sort of bottom confirmation looking for? Never underestimate the power and desire of the BOYs to cause massive capitulation yes worse than this but silver is holding up

[senorBS]

what sort of bottom confirmation looking for?

Never underestimate the power and desire of the BOYs to cause massive capitulation

yes worse than this


but silver is holding up

short term a sustained rally above 20.75 does it for me then a stop below the low. Longer than that a sustained rally above 22 IMO suggests at least a rally back to larger tri apex at 27 area

Senor

Edited by senorBS, 23 October 2014 - 11:44 AM.

[dharma]

i dont think anyone has mentioned this, but to me it shows the distortion and bearishness in the market: in 08 gold was 680 and the low in gdx was 15.83 . today gold is 1229 and is 20.54. in essence they are beating the miners out of proportion. when this turns, @some point these miners will fly, maybe not right away, but , @some point they are seen as real value silver still up on the day. biggest month of the year, even w/over a week left to the month of silver sales @the us mint so the pms feel heavy. even the bulls are bearish yet, there is big buying occurring dharma

[senorBS]

well well well, what do we have here? close above GDX 20.70-20.75 and me like a lot I don't think many really appreciate just how washed out/crashed/oversold/pummeled/written off the miners are, and maybe I am just full if ********? LOL and by the way this could just be another oversold bounce, but ya never know do ya? we see BSing away Senor

Edited by senorBS, 23 October 2014 - 02:16 PM.

[goldfungus]

well well well, what do we have here? close above GDX 20.70-20.75 and me like a lot

I don't think man really appreciate just how washed out/crashed/oversold/pummeled/written off the miners are, and maybe I am just full if ********? LOL and by the way this could just be another oversold bounce, but ya never know do ya? we see

BSing away

Senor

Yep. I foolishly have my biggest position in years right now! Crossed fingers. LOL

[senorBS]

i dont think anyone has mentioned this, but to me it shows the distortion and bearishness in the market:
in 08 gold was 680 and the low in gdx was 15.83 . today gold is 1229 and is 20.54. in essence they are beating
the miners out of proportion. when this turns, @some point these miners will fly, maybe not right away, but , @some
point they are seen as real value
silver still up on the day. biggest month of the year, even w/over a week left to the month of silver sales @the us mint
so the pms feel heavy. even the bulls are bearish
yet, there is big buying occurring
dharma

Dharma, that's a great point about the GDX bottoming at 15.83 in 2008 with gold hitting 680 and today hitting a low near 20 with gold at 1225-1230, I'd say the miners are about as pummeled as I have ever seen then.

Senor

[senorBS]

i dont think anyone has mentioned this, but to me it shows the distortion and bearishness in the market:
in 08 gold was 680 and the low in gdx was 15.83 . today gold is 1229 and is 20.54. in essence they are beating
the miners out of proportion. when this turns, @some point these miners will fly, maybe not right away, but , @some
point they are seen as real value
silver still up on the day. biggest month of the year, even w/over a week left to the month of silver sales @the us mint
so the pms feel heavy. even the bulls are bearish
yet, there is big buying occurring
dharma

Dharma, that's a great point about the GDX bottoming at 15.83 in 2008 with gold hitting 680 and today hitting a low near 20 with gold at 1225-1230, I'd say the miners are about as pummeled as I have ever seen then.

Senor

and by the way that GDX low was on Oct 24,2008, today I believe is Oct 23, interesting

Senor

[dharma]

i dont think anyone has mentioned this, but to me it shows the distortion and bearishness in the market:
in 08 gold was 680 and the low in gdx was 15.83 . today gold is 1229 and is 20.54. in essence they are beating
the miners out of proportion. when this turns, @some point these miners will fly, maybe not right away, but , @some
point they are seen as real value
silver still up on the day. biggest month of the year, even w/over a week left to the month of silver sales @the us mint
so the pms feel heavy. even the bulls are bearish
yet, there is big buying occurring
dharma

Dharma, that's a great point about the GDX bottoming at 15.83 in 2008 with gold hitting 680 and today hitting a low near 20 with gold at 1225-1230, I'd say the miners are about as pummeled as I have ever seen then.

Senor

and by the way that GDX low was on Oct 24,2008, today I believe is Oct 23, interesting

Senor

as you know gann was big on anniversary dates. yes, the miners are way overdone. dont know when , but there will be a huge catchup @some point
dharma