are bottoming now in a wave2
#11
Posted 05 November 2015 - 12:18 PM
#12
Posted 05 November 2015 - 05:48 PM
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#13
Posted 06 November 2015 - 09:16 AM
I often buy too early so this time I am going to watch my key price levels and await at least a decisive short term move off a potential low if that happens, no falling knives for me. I have no positions in the metals at this time so it's popcorn and watch the action time
what I think are bullish counts in silver-platinum-palladium IMO support the case for a gold low somewhere in the 1090-1415 area, but again that's just a key area for me to WATCH, not act, give me a nice short term reversal off a low in that area and that is when action may be warranted
BSing away
Senor
finally got gold below 1089 as I thought would happen and now the key Q is whether it will make a new 4 yr decline low below 1077? so far I am liking the "possibility" gold perhaps registers a new low while miner ETF's/indices, silver, and Plat and Palladium do not make new lows which IMO would be very bullish if it occurs. Still just watching and have no positions
As Dharma has said many times before, rising rates at some point will be bullish for gold and I agree, with today's way higher than expected employment numbers a Dec rate rise by the Fed seems highly likely so we are likely seeing the classic anticipatory washout
Senor
#14
Posted 06 November 2015 - 11:18 AM
well stated! yesterday gld holdings declined by more than 1% which in the past has indicated a bottom in 1-3 days. also %b is indicating a bottom. as senor sated on another thread gold making a new low and miners not confirming would be a good sign. and i am saying that important lows in the past have been marked by this divergence.I often buy too early so this time I am going to watch my key price levels and await at least a decisive short term move off a potential low if that happens, no falling knives for me. I have no positions in the metals at this time so it's popcorn and watch the action time
what I think are bullish counts in silver-platinum-palladium IMO support the case for a gold low somewhere in the 1090-1415 area, but again that's just a key area for me to WATCH, not act, give me a nice short term reversal off a low in that area and that is when action may be warranted
BSing away
Senor
finally got gold below 1089 as I thought would happen and now the key Q is whether it will make a new 4 yr decline low below 1077? so far I am liking the "possibility" gold perhaps registers a new low while miner ETF's/indices, silver, and Plat and Palladium do not make new lows which IMO would be very bullish if it occurs. Still just watching and have no positions
As Dharma has said many times before, rising rates at some point will be bullish for gold and I agree, with today's way higher than expected employment numbers a Dec rate rise by the Fed seems highly likely so we are likely seeing the classic anticipatory washout
Senor
also other metals are far from their previous lows
well i post something than an hour and half later the market changes . then guys pick up on that. yes, the miners were not strong by then , what to do!?
#15
Posted 06 November 2015 - 11:34 AM
#16
Posted 06 November 2015 - 11:53 AM
#17
Posted 06 November 2015 - 12:11 PM
#18
Posted 06 November 2015 - 12:14 PM
#19
Posted 06 November 2015 - 12:50 PM
commercials are not always right , in 80 they were over run, then the exchange changed the rules
gold has been down 7 straight days
gann has a 7-10 day rule, which states reverse , in this case go long after a market has been declining for 7-10straight days
dharma
Well there may have been some times that the commercials were not right but it has been noted by many people that the commercials are usually right and it appears they are right again now and as I said earlier the standard oscillators were not oversold, so gold lost another big chunk.
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#20
Posted 06 November 2015 - 01:02 PM