152 replies to this topic

[senorBS]

While a case "can" be made that gold stocks "need" a new low for downside pattern completion in my view just as good a case can be made that they don't. As Dharma has said many times potential wave 2 lows are NEVER EASY as even the more die hard bulls seriously begin to doubt the bullish case, and I think that is where we may be at right here. I took a small GDX long position at 21.29 and I could exit very quickly but I am going give it another shot from a trading perspective. As always DYODD

 

PURE BS

 

Senor

[senorBS]

looks like new lows coming in gold (almost) and silver (made), key is whether they are final 4/5's and we get a slew of additional bullish technical divergences or a plunge continues. IF bullish I'd also like to see the GDX/HUI diverge and not make new lows - a VERY CRITICAL juncture IMO.

 

Senor

[senorBS]

looks like new lows coming in gold (almost) and silver (made), key is whether they are final 4/5's and we get a slew of additional bullish technical divergences or a plunge continues. IF bullish I'd also like to see the GDX/HUI diverge and not make new lows - a VERY CRITICAL juncture IMO.

 

Senor

so far a marginal new decline low in gold at 1211 and is silver as well, "possible" additional technical divergences "if" we hold and don't plunge, this is edge of seat time.

 

NO BS

 

Senor

[senorBS]

added a little more GDX at 21.17, if we close weak will likely exit before close

 

BSing away

 

Senor

[senorBS]

also initiated a modest SLV position at 15.78, please keep in mind this is a do or die time so DYODD as I may get out very quickly

 

Senor

[dharma]

what i am seeing right here right now is this
gold /gld made new marginal lows
gdx/gdxj did not follow to new lows ie the lows of a couple of days ago
i am buying. yes, i am early, yes the decline can continue. the miners lead
and when they dont make new lows while gold does. its worth a shot.
dharma

[senorBS]

what i am seeing right here right now is this
gold /gld made new marginal lows
gdx/gdxj did not follow to new lows ie the lows of a couple of days ago
i am buying. yes, i am early, yes the decline can continue. the miners lead
and when they dont make new lows while gold does. its worth a shot.
dharma

"worth a shot" is the key phrase, I agree amigo. Those Treasury yield charts are rather interesting.

 

Senor

[senorBS]

stayed long with the decent close, again a smallish position in GDX and a little SLV, interesting day with the marginal new gold/silver lows and more technical divergences and the gold stock divergence (so far) as well, gotta take a stab once in a while and for me I had reason to but it is bottom fishing

 

Senor

[johngeorge]

At this time spot gold and silver are dumping.  Friday could be very interesting as often Fridays are not kind to the precious metals.  Interesting times!

[Russ]

Closing the gap at 1157.80 weekly looks to be a certainty.