25 replies to this topic

[tria]

"I dont doubt your calls, just didnt follow your humor. my bad"

 

Had this kind of black humor even from my old school days. Enough said.

[tria]

I have said this before but it still bothers me.

Gold futures OI just does not seem to calm down, that is to drop.

It does not indicate any stop-loss/short covering activity for now but on the contrary,

more naive buying and strong money selling on any small price rise.

 

Due to the SLV present opex set up, I still wish however to get filled on the remaining

Silver buy order at 16.57 OB. Looking for +$0.50-$0.70 to unload.

BTW because of my bullish bias for the Grains complex, I think I will concentrate more on Silver

this year.

 

Edited by tria, 19 May 2016 - 06:31 AM.

[tria]

I could not stand it of not getting filled for a couple of cents above and just bought at mkt at $16.59

Edited by tria, 19 May 2016 - 07:01 AM.

[tria]

With all the bullish GDX talk in May we forgot our 2 previously trusted cycles indicating

a potential but expected month of May low in Gold's price.

To bring them back to our memory and respect:

 

Chart courtesy of Indian-T.Theory forum

 

Chart courtesy of Norm-T.Thory forum

[dougie]

Form. A head and shoulders bottom?

[tria]

Form. A head and shoulders bottom?

 

Too early to tell, too late for me to trade short not because of the technicals but because of the fundamentals.