I am long NUGT now, just under $9. Wonder what happened to Tria?
UGLY bottom or classic?
#31
Posted 22 November 2016 - 04:03 PM
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#32
Posted 23 November 2016 - 01:57 AM
#33
Posted 23 November 2016 - 08:38 AM
Today is actually the turn date for my low signal from last summer, I went long yesterday as the hourly charts were breaking out on gdx etc. We will see if the low of today holds or the gap at 1157 will be closed.
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#34
Posted 23 November 2016 - 08:57 AM
Today is actually the turn date for my low signal from last summer, I went long yesterday as the hourly charts were breaking out on gdx etc. We will see if the low of today holds or the gap at 1157 will be closed.
Interesting as both gold and silver just blew out to new decline lows, pretty critical here as this is either an ending 5th wave of this last big drop or we could extend a lot lower. Also will be MUY interesting to see if GDX/HUI/GDXJ diverge which could be a bullish sign. I am glad I exited yesterday, may do some light bottom fishing buying this morning, I actually like that they are trying to crush this stuff on a pre-holiday session
Senor
#35
Posted 23 November 2016 - 09:39 AM
Senor did you see that last ski report on 321gold.com? Looks like it might be the option developing whereas it does not bounce up to the 16-20 area, but possibly taking out the lows and going even lower????
This should be determined soon on gdx.
#36
Posted 23 November 2016 - 09:46 AM
I did buy GDX at 20.53 area and some SLV at 15.45, modest trading positions and fairly tight stop, keep in mind this is total bottom fishing
Pure BS
Senor
#37
Posted 23 November 2016 - 11:06 AM
muy interesting action as GDX "so far" fails by a tick (20.14 low today) to hit the previous 20.13 intraday low, HUI easily makes a new low and XAU so far bottoms almost 2 full points above its recent decline low and GDXJ also "so far" bottoms 65 cents above its decline lows. BTW this kind of action if it holds and all of this stuff does NOT make new lows certainly would certainly IMO qualify as "UGLY" bottoming action
BSing away
Senor
Edited by senorBS, 23 November 2016 - 11:11 AM.
#38
Posted 23 November 2016 - 11:17 AM
SLV coming back pretty well, been watching the gold/silver ratio for a top and this morning we had a very brief spike that eked out a new several month recovery high in this ratio and that high "might" have been an important top, big strssing of "might"
Pure BS
Senor
#39
Posted 23 November 2016 - 11:27 AM
and UNO more thing, this may be nothing more than an intraday bounce but if we recover modestly off todays low the HUI will have registered the 3rd successive higher daily RSI reading with successively lower "price lows" since the momentum low in late August - this is how major lows are formed but of course there is no guarantee it will happen right here but it is important to note that the set up "at this time" is there. With this bounce, if it holds, I am likely going to hold my modest trading position in GDX and SLV taken today
Senor
Edited by senorBS, 23 November 2016 - 11:35 AM.
#40
Posted 23 November 2016 - 11:32 AM
Received a free missive from Eric Hadik just now: "Final spike low in gold and siver by this Friday."
I liked the word "final".
Good luck to all.
P.S. No BS.
Edited by Smithy, 23 November 2016 - 11:33 AM.