152 replies to this topic

[dougie]

Stabbing in the other direction might have been more profitable

They are walking this market down nicely

LOL, yeah this gold market it feels like couple of the mogul runs I skied today - threw old Senor all over the place! Thank goodness for hot tubs! This is uno tough hombre, I do feel we are more than likely bottoming here and as often happens the market "feels" like it will/can never rally, but keep in mind the GDX  intraday low was registered on Nov 14 and has not yet been broken even with the seemingly huge hits the gold sector has taken, perspective is key here. Anything of course is possible, including a decline below 1046, but that IMO at this time remains the lower probability outcome IMO but than can change muy rapido. And as I have menioned I am trading lightly and taking stabs only for now.
 
Pure BS
 
Senor

[Russ]

Speaking of gaps, you can see on my original chart from last summer I had a double horizontal line drawn on xau where there was a gap that never got closed as the xau peaked. Gaps are weird.

 

[Russ]

 

 

Tomorrow Friday Dec 2nd is the anniversary of the end of the bear market a year ago.

 

Hats off to Russ for first class work. His 1157 gap is near.

Thanks Smithy,  I owe some thanks to da_cheif  (don wallanchuk) who always talked about gaps in his bag of tricks, he used to stress that there are lots of tools out there and you should keep an eye on all of them and look for things to line up. I heard one guy call da_cheif (he misspells it on purpose) the best bottom picker out there, he called the low on the spx etc. on the main board of this site in early 2009 to within a few points.  Gold seems to have kissed the gap without closing it today, that looks like it may be enough.... maybe, the 5 hour gold chart has a nice doji star.  http://www.investing...ommodities/gold

 

he was also one of the most egotistical human beings Senor has ever run across, not one of my favorites to put it nicely, that's all I will say

 

NO BS

 

Senor

 

Yes he was quite egotistical, seems that extreme talent can be that way.  He once sent me an email link that gave a giant F... U.... in bright red... lol. 

[Smithy]

[senorBS]

Possible but not as clear at this time as I'd prefer it to be, GDX could also have ended wave "e" at yesterdays rally high, however I don't "trust" anything at this time

 

Senor

[Smithy]

Thanks. The case for an imminent low gets stronger every day.

[senorBS]

Thanks. The case for an imminent low gets stronger every day.

I think so but as usual at potential key lows "they" have made it extremely difficult, I usesd the early weakness to buy a bit of NEM at 32.23, now back about 15% long. I think today has a decent chance to close strong, a sharp and sustained gold rally above 1275-1276 should bode well for a possible rapid short term rally, we see

 

Senor

[senorBS]

 

Thanks. The case for an imminent low gets stronger every day.

I think so but as usual at potential key lows "they" have made it extremely difficult, I usesd the early weakness to buy a bit of NEM at 32.23, now back about 15% long. I think today has a decent chance to close strong, a sharp and sustained gold rally above 1275-1276 should bode well for a possible rapid short term rally, we see

 

Senor

 

OK, we just moved above 1276 and IMO there is a good chance here we could now accelerate up in a near term 3rd wave IF a bullish count is in effect, got my coffee and am watching closely

 

Senor

[dougie]

El Senor stabber

[senorBS]

El Senor stabber

hopefully this stab keeps working! I really like the gold stocks relative strength today, a close at/near session highs would bode well at least for the near term IMO

 

BSing away

 

Senor