59 replies to this topic

[tria]

Still looking good, potential Monday's longs exit day and perhaps Dust day for a quick one,

should be this Wednesday-Thursday.

[tria]

A new daily high above spot $1246.27 ( the high so far ) and I'm half out from this Monday's trading longs.

Call it profit protection.

[tria]

Out of 1/2 gold futures @ $1.248.10

Nice to sell when some buy stops were hit near the official Comex opening.

 

The other half goes @ $1,256.70 OB or on any strength late tomorrow or on Thursday.

[tria]

Any (expected) GDX trading above $23.00 and preferably on Thursday will turn me into a DUST collector.

Ideally in the $1.90-$1.85 range to buy for a quicky.

[tria]

Orders to collect some DUST were duly placed and will be for the next couple of days.

 

From $1.91 all the way down to $1.83

[tria]

The sell GCM16 1256.70 was dully filed.

 

I am out of all long Futures.

 

The long Dec Gold 1260 (at the money) and the Dec Silver 16.00 (in the money) CALLS

will cover me in case of any further upside potential for the rest of April.

[tria]

My friend BigBanginvestor from t-theory posted this to me  :

 

"Showing a negative divergence on GDX in just about every timeframe with today’s pop."

 

Check it out if correct, I have no time myself, just felt responsible to let you know.

In any case if a 3rd is coming (don't think so) negative divergences mean absolutely nothing (ie. 0.00)

Edited by tria, 19 April 2016 - 09:21 AM.

[tria]

My final internet comment/pollution 4 2day is :

 

iii of a 3rd believers, if you don't get it by this Thursday, perhaps - watch out - perhaps.

Edited by tria, 19 April 2016 - 09:40 AM.

[relax]

great with the "pollution" ;-)

[Ken]

My final internet comment/pollution 4 2day is :

 

iii of a 3rd believers, if you don't get it by this Thursday, perhaps - watch out - perhaps.

 

I agree with the watch out advice!  I'm short with shares of JDST (Junior Gold Miners Bear3X) and have already lost a lot of money but I'm holding on because I think a decline is imminent.

 

I also see negative divergences on the GDX hourly and daily charts that go all the way back to Feb 11th.

 

Raymond Merriman wrote something interesting today in his monthly report regarding gold.  He stated that Mars went retrograde on April 17th and that this will affect gold.  Any high or low that forms within two weeks of Mars turning retrograde would hold for the rest of the year.  Right now spot gold has traded as high as $1258. Is this possibly as high as gold will get for the rest of the year?  It sure would seem that way for silver.

 

I should add that until gold closes above $1307.80 (January 22, 2015) there is the very real possibility of gold falling into its 8.33 cycle low the end of 2016 or early 2017.  As stated before there are three 34 month cycles in one 8.33 year cycle.  Gold is in the third and last 34 month cycle which will culminate with the 8.33 yearly cycle low.  Within the 34 month cycle there are two 17 month cycles.  Gold is in the last 17 month cycle of the third and last 34 month cycle within the 8.33 yearly cycle.  I'd be careful.  People seem to have caught gold fever again.

 

In addition, the 15 day MA has crossed below the 45 day MA which is not a good sign especially if gold prices fall below the 15 and 45 day moving averages. Then it becomes look out below.