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correction over???


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#21 senorBS

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Posted 07 November 2016 - 08:42 PM

How to count an impulse up off oct Gdx lows?
I see too many overlaps

does not look like an impulse to me either - could we see one more new low? or just an ugly bottom?


Edited by senorBS, 07 November 2016 - 08:43 PM.


#22 Smithy

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Posted 07 November 2016 - 09:25 PM

The rise off the low in 2008 had multiple overlapping waves.

 

If 1241 was the Minor 2 low then the trendline from Dec 2015 needs to hold.

Today that is 1263 and rising.

 

I'm bullish against the 62% retrace at 1267.

 

I'm taking one of my cues from the GSR where silver seems to be gradually strengthening against gold.



#23 dougie

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Posted 07 November 2016 - 10:55 PM

How to count an impulse up off oct Gdx lows?
I see too many overlaps

does not look like an impulse to me either - could we see one more new low? or just an ugly bottom?


Or new lows below last dec?

#24 dharma

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Posted 08 November 2016 - 11:17 AM

anything is possible
smithy, i am thinking the same thing. silver is stronger vs gold here, it appears to be making an inverse h&s pattern
hadik was unsure in this period we are in now, he thought it possible that the miners could make new lows while gold/silver
do not. i dont know. but what i do know and i showed this chart a # of times is that since 1996 miners were in a bear market
vs gold. the low in dec 15 may have changed that, too early to tell . now , it seems this guy is remembering his ayn rand roots
now that he is not it public life. http://www.bloomberg...5-percent-again
if green span is correct then interest rates should start up. which is what i have been thinking STAGFLATION a return to the
70s . ala the 40yr cycle. i am at the edge of my chair in wait mode. the bankster short position of 440k+ as of last tuesday
tells you what they think or at least what they seem to be doing. we are on the cusp of the bull market era for gold. we just
have to finish this wave 2. it took awhile, and pain in 09 before the bull thrust w/its horns. patience here.
dharma

#25 dharma

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Posted 08 November 2016 - 03:31 PM

well the captain thinks wave 2 is over http://www.gold-eagl...sp500-and-gdx-1
deutsche bank back in trouble
http://uk.reuters.co...k-idUKKBN12X24M
marty keeps looking for a strong dollar. it looks to me like the dollar is debt laden and experiencing a heavy economy not strong
robust growth

silver continues to out perform gold
dharma

Edited by dharma, 08 November 2016 - 03:32 PM.


#26 Smithy

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Posted 08 November 2016 - 08:44 PM

" I'm bullish against the 62% retrace at 1267."

 

Today's spot gold low 1267.9. At times like this I get religion.



#27 johngeorge

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Posted 08 November 2016 - 11:02 PM

Gold likes something

 

 


Peace
johngeorge

#28 dharma

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Posted 09 November 2016 - 10:40 AM

i am an investor and as far as i am concerned the fundamentals in the gold market have not changed.
ok dharma, is the correction now over w/trump in the white house? you want a guess. ok i dont know
what i do know is we are in the time period for correction. and the emotional election results is not
a time for jumping to conclusions. what i do see is we keep chewing into resistance and getting thrown
down the stairs. there are issues i want to be long and some of them have been beaten up. so, i bought
one yesterday, it seemed very low risk. today in the gold market showed more of the same, resistance is
well defended. the banksters are not ready for another brexit just yet. patience when something you like
gets taken to the woodshed , give it some love.
dharma

#29 johngeorge

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Posted 09 November 2016 - 12:40 PM

dharma

 

"patience when something you like
gets taken to the woodshed , give it some love."

 

Sometimes for me it is difficult to do when that happens.  So to offset that I sold a stock into strength this morning.  Like you I am still looking for a correction.  My target of 1325 has been met, although, under strained circumstances.

 

Thanks for the thread.  smile.png

 

 


Peace
johngeorge

#30 dharma

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Posted 09 November 2016 - 01:02 PM

jg as you know full well this is a difficult game. deciphering the trend makes it alot easier if emotions can be kept in check
hgnsi =-8.33% still where one would expect it in correction mode. i will be picking off stuff i like over the next days i think this
correction is running out of time. interest rates will rise. last dec 15 saw a rate hike. gold rallied . this dec could produce
more of the same the fed will always be behind the curve. and raising rates is an admission of that.even when volcker
hiked and hiked the fed was behind the curve. for most of those hikes. it was a blistering pace
dharma

Edited by dharma, 09 November 2016 - 01:03 PM.