144 replies to this topic

[senorBS]

Plat and Palladium look to be ending (could still go somewhat lower) important 5th waves in my opinion which could complete much larger declines, I moved back into SPPP at this area, as always DYODD

 

Senor

BOOM! Looks like another potential intermediate term low at least and mums the word around here apparently - works for me.

 

NO BS

 

Senor

[senorBS]

so far the gold reaction to the much lower dollar is frankly disappointing, however the charts still look encouraging for a possible key low and "sometimes" there can be a bit of a delayed reaction - we will see about that. Miners acting okay and NEM looks very good with an operations update/forecast out early today. Holding long miner position for now.

 

BTW NEM IMO has a very nice and big daily 5 up and may have ended a 2 wave and could now be going up in 3, ABX/AUY both have the same potential bullish clean 5 up counts as do other miners, so far the miners overall the past several weeks have shown excellent relative strength, as Dharma has commented that could be muy bullish, we see

 

BSing away

 

Senor

Bulls eye on gold's "delayed reaction" and looks like daily tres waves norte in the miners, what a BUENO past few days. The case for intermediate term lows at a minimum is looking better and better

 

NO BS

 

Senor

[dougie]

indeed it is.

Let me ask you: what would make you say for sure this was an IT low?

Are you adding here or just holding your modest trading position?

THanks!

[dharma]

as i and senor have stated the commercials are lopsidedly short the dollar . it seems the specs are caught up in the momo of the dollar.

eric hadik 1045 -1033 . the low the other night was 1045.   in 09 india bought 200tons of gold @1045 @ the time i thought this would be a floor, we see

i will not buy again, unless the structure of this rally says its an impulse. then i will buy the reaction. i will sell some into the rally. keep in mind the well publicized hike is the 16th . the fed backed itself into a corner w/the incessant hike chants.  yellen about the hikes

the 18th is a bradley. i am happy about the rally, but on the fence as to what we have=bounce or impulse(change of trend). in either event i believe the miners are sold out , and this will be my focus going forward. they offer real value. and i think the value oriented buyers are accumulating

as for the metal, the small specs and hedgies are increasing their shorts. while the smart money, the commercials , are net 11k short, a very small position for them as of the last cot. 

when gold goes up in earnest it will be accompanied by commodities.  opec voted to increase output, keeping the pressure on russia. russia supports assad , because they dont want the saudis to build a pipe through syria to europe. as of now russia has no competition for selling its ng to europe. yes the whole thing is poltical. never mind a potential ww3.

dharma

last night i was out and a guy came up to me and stated gold is going under 1k. i  THOUGHT this is what the common guy thinks. hmmmmm

stay alert . be nimble.  it wont be long now for the game to be on

[senorBS]

indeed it is.

Let me ask you: what would make you say for sure this was an IT low?

Are you adding here or just holding your modest trading position?

THanks!

there is no "for sure" for a long while. First lets see if miners/gold/silver can perhaps trace out a bueno 5-wave daily rally. And we haven't seen the GDX move above its 200-day (near 16.80) for more than a day and in any appreciable way since June-August of 2014, this rally currently looks impulsive and we have has nice miner divergences along with all the technical stuff. I have NO assumptions here except that for now I favor the odds of much higher prices and the huge dollar reversal is some bueno confirming evidence, but uno day at a time as always

 

BSing away

 

Senor

[dougie]

Thanks!

would be nice to see the weekly DT line taken out as well. Somewhere north of 17 GDX.

I think this rally will surprise most

[dharma]

the pi date for the 4.32 yrs is dec 17th fed the 16th bradley the 18th

muy interesting

nothing is revealed yet going to take some time. 

one thing is for sure the miners blood is running in the streets. 

well what happens if the broad market tops and craters?

that will present an interesting picture. the sucking sound that goes w/that usually

takes all ships w/it

this is a very interesting juncture, if not now then the next low could be the set up, if we go that route

i am in wait and see.

dharma

[dougie]

50 DMA acting as resistance today

[dharma]

if we close above 1181.42 then we have a key weekly reversal in gold

could mark the bottom?

dharma

[dharma]

cots    http://news.goldseek.../1449261204.php

more improvement for the bullish case

small specs net short

commercials closed the gap on net shorts to about 3k contracts

large specs remain long

 commercials increased their shorts of the dollar

this is as of tuesday.

dharma

it is heading into a rare bullish stance.