Member
Posted 15 April 2016 - 11:56 AM
Got shook out of my NUGT (at 73) & JNUG (around 93) yesterday for a nice gain.
i hope (i know, not a good word to use in trading) to be able to get back on the train at lower levels.
dharma & tria, i appreciate & look forward to your thoughtful posts. Thanks.
Member
Posted 15 April 2016 - 02:55 PM
well if maund et al were fearful of previous cots this one will send them shorting , helping to create the next bottom from which to rally
http://news.goldseek.../1460748761.php
commercials on their way to 300k net short
dharma
Member
Posted 16 April 2016 - 11:10 AM
its not just the banksters that are putting on short positions. its companies like ng that are hedging. which, does not mean that the weight of the commercil short position will bite into gold prices. it will @ some point. my cycle stuff shows the 17 week cycle bottoming this week. which will help to take pressure off gold . then there is the summer doldrums. i am looking for a rally to new highs. then a pullback
dharma
Member
Posted 17 April 2016 - 01:04 PM
well if maund et al were fearful of previous cots this one will send them shorting , helping to create the next bottom from which to rally
http://news.goldseek.../1460748761.php
commercials on their way to 300k net short
dharma
Dharma one has to inerpret the context of time in the latest COT report.
It reffers to the week ending on Tuesday 4/12, the day that Gold was trying
desperately to move and close higher than $1,260 and failed miserably.
It was a foregone conclusion that the usual known suspects were selling,
to eat the premiums of the recent numerous April GLD call buyers.
This activity was obviously expected in the latest COT report.
Put/Call ratios of 1/10 are indicative of a pending top, at least ST.
In the world of 0 and 1: "austerity" is the right thing to SAY; "spent more, print more" is the right thing to DO.
"You miss 100% of the shots you don't take."
~ Wayne Gretzky
Member
Posted 18 April 2016 - 11:42 AM
thanks jg , will listen after this post
gold is in a bottoming process. this is all part of it. it is going to take some time. keep in mind we are in the seasonal weak time of year
http://seasonalchart...ssics_gold.html
in spite of that , the undervalued miners continue to catch a bid. and catch up to the reality that gold is @ 1200+ not 300+
during the last years of gold bearishness, the price of crude has fallen, miners have cut costs , become lean, and have become more economical
hitting a couple of homers today on names i like and own. gold topped jan 22, 1980 and fell precipitously after that, the miners tacked on another 30-40% flash forward to today, the miners are catching up to the price of gold imo , they are still undervalued r rule http://www.kereport....w-preview-rick.
i am not doing anything. hoping for a pullback in one miner in particular.
yes, i do realize the cots were as of last tuesday, gold was down after that.
trading based on just the cots. is a tough game
some guys are almost always bearish and over the past 4+years it served them well
dharma
Member
Posted 18 April 2016 - 02:20 PM
w/the failure of oil producers to reach some kind of agreement, the thought was oil will collapse, well its holding up rather well. a good sign for the oil bulls
in spite of the govt not erasing the 1% tax on gold jewelry, indian jewelers have ended their strike. the festival of may 9 should see some gold buying, keeping a bid on price until thenl\
all in all a good day metates is quite the potential project. riefel has tons of experience. as always do your own dd. and come to your own conclusions, it is after all your money
quiet dull market, you know the old saying. never short a dull market
must have been started by the banksters as a decoy
dharma
Member
Posted 19 April 2016 - 10:16 AM
well folks must have listened to the riefel interview. w/.5 in cash(24million in cash), the company is being valued for moose pasture. this company has resources of over 18million oz of gold , over 500 million oz of silver, and a huge4billion tons of zinc resource. metates is one of the largest finds in the world. so yesterday chpgf joined other miners W/over a 20% gain folks do your own dd. riefel has a rep of being frugal. as rule pointed out in his interview. it sure looks to me , w/the action in the miners yesterday, that we are rapidly approaching the gold bull market era. we have gone from the cusp , to being in the gold bull market.
gold is in a triangle pattern silver is in an inverse h&s pattern. went above the neckline and then tested the neckline . todays action looks like the breakout. based on mars retrograde on the 17th i thought we could see a change of trend. i do think the 26th-28 will be a much larger breakout.
shanghai trading began today, it will take some time for the volume to come up and be influential http://www.forexfact...=news&id=587586. hsbc trend wave program recommends long gold to 1500. then there is this http://www.bloomberg.com/news/articles/2016-04-18/china-captures-top-growth-in-commodity-trading-after-2015-rout
it looks to me like the precious metals have some luster gold still has that 1288 high to take out and confirm in the mean time the miners are catching a bid
may 9th is an indian festival there will be some gold buying in front of it. the main buying will come from a good monsoon
and then diwali in the fall
dharma.
Member
Posted 19 April 2016 - 11:04 AM
dharma
For sure a nice pop in gold and silver this am. Stewart Thomson in his comments this morning said "Scotiabank, which is also facing lawsuits for price manipulation in the United States, is now facing a massive class action lawsuit in Canada. Then he added later "While the bullion banks of the West are facing a barrage of lawsuits, China has launched the SGE gold price fix system, and the launch may be part of the reason gold is moving strongly higher this morning". He is also still looking for 1305 in gold on this rally.
Yes, I think you are right that people watched Randy Reifel's interview and decided to buy yesterday. So far today chpgf is taking a break. Thanks for the thread.
Best to you. 
