152 replies to this topic

[Russ]

Notice Armstrong's article shows his computer's advice in the little box on the chart... cover around 1181.60 and buy above 1217.50 nearest futures...

 

 

[risk_management]

Interesting Armstrong article on Gold.... 
 
" I wrote on February 11th, 2016: The Monthly Bullish stands up at 1362. That is what we need to elect to suggest that a change in trend is possible. Otherwise, be cautious. We are looking at all markets pushing to their extremes. This is the prelude to the chaos coming in 2017.
If you are going to change trend, that takes place ONLY at the Monthly level. This is why I have stated countless times you must define where you are right and and where you are wrong. I did that 1362. You cannot get more black and white than that. I warned that the Quarterly Bullish Reversal was 1347. On August 2nd, I wrote on the Private Blog:
We still need to get a monthly closing above 1362 to suggest that the 2015 low would potentially hold. We would also need to close September above 1347 and year-end above the 2015 high technically. These targets must be met to imply gold will hold.
 
 
https://www.armstron...ure-of-trading/

He is referring to chaos in 2017. Does anyone have a link to more information?

[senorBS]

I don't why Armstrong gets so much attention but to each his own, I really don't care what he thinks. IMO I think the odds are 60-65% that a major secondary bottom is forming right here, however the less probable possibility of a 10-20% plunge from here and right away is keeping me very careful using only light trading positions. If we can rally significantly early this week I will start becoming more confident a low is in place and likely increase longs, conversely a sharp and sustained decline below 1170 increases the odds that new lows below 1046 are going to occur. That's how I currently see it

 

BSing away

 

Senor

[dharma]

I don't why Armstrong gets so much attention but to each his own, I really don't care what he thinks. IMO I think the odds are 60-65% that a major secondary bottom is forming right here, however the less probable possibility of a 10-20% plunge from here and right away is keeping me very careful using only light trading positions. If we can rally significantly early this week I will start becoming more confident a low is in place and likely increase longs, conversely a sharp and sustained decline below 1170 increases the odds that new lows below 1046 are going to occur. That's how I currently see it
 
BSing away
 
Senor

i am w/you on all you said. in the 90s martys short term trading got him into jail. he says they wanted the code, and our hero refused to give it
to them. i read him to find out what everyone is thinking.
silver failing to make new lows w/gold adds more divergences to the fire. my big and main concern is modi. if he bans gold
importation , then the citizens buy orders are filled by the mafia. which in 13 w/the 10% tax and the 80/20 rule(most jewelers
are not set up for export)sold the people about 1/5 of what they wanted. so gold plunged then. w/a ban a similar thing can occur
i am reading that spot prices for gold in india is much higher than market prices here. w/taking 500rps/1k rps notes. folks
either lose the money or try to hide it and buy gold etc. its very interesting circumstances modi has created. all part of
the hunt for tax money.
dharma

Edited by dharma, 27 November 2016 - 11:51 AM.

[senorBS]

 

I don't why Armstrong gets so much attention but to each his own, I really don't care what he thinks. IMO I think the odds are 60-65% that a major secondary bottom is forming right here, however the less probable possibility of a 10-20% plunge from here and right away is keeping me very careful using only light trading positions. If we can rally significantly early this week I will start becoming more confident a low is in place and likely increase longs, conversely a sharp and sustained decline below 1170 increases the odds that new lows below 1046 are going to occur. That's how I currently see it
 
BSing away
 
Senor

i am w/you on all you said. in the 90s martys short term trading got him into jail. he says they wanted the code, and our hero refused to give it
to them. i read him to find out what everyone is thinking.
silver failing to make new lows w/gold adds more divergences to the fire. my big and main concern is modi. if he bans gold
importation , then the citizens buy orders are filled by the mafia. which in 13 w/the 10% tax and the 80/20 rule(most jewelers
are not set up for export)sold the people about 1/5 of what they wanted. so gold plunged then. w/a ban a similar thing can occur
i am reading that spot prices for gold in india is much higher than market prices here. w/taking 500rps/1k rps notes. folks
either lose the money or try to hide it and buy gold etc. its very interesting circumstances modi has created. all part of
the hunt for tax money.
dharma

 

 

 

Bueno stuff amigo. I forecast and trade off the technicals and using Ewave, however I always try to have an understanding of the fundamentals. IMO with the Trump victory and a very volatile world both economically and politically I have to think gold will do well in what I think will be a very "unstable" environment. Add to that rapidly rising interest rates in a world drowning in debt and that just adds another big time dimension. This is not short term stuff but about the next several years IMO. 

 

NO BS

 

Senor

Edited by senorBS, 27 November 2016 - 05:08 PM.

[senorBS]

I don't why Armstrong gets so much attention but to each his own, I really don't care what he thinks. IMO I think the odds are 60-65% that a major secondary bottom is forming right here, however the less probable possibility of a 10-20% plunge from here and right away is keeping me very careful using only light trading positions. If we can rally significantly early this week I will start becoming more confident a low is in place and likely increase longs, conversely a sharp and sustained decline below 1170 increases the odds that new lows below 1046 are going to occur. That's how I currently see it

 

BSing away

 

Senor

as an example the chart that Fib just posted is worth way more to me than sifting through the gobs and gobs of junk that Armstrong puts out! When they say a picture is worth a thousand words this chart for me says it in spades compared to ramblings that never seem to cease.

 

NO BS

 

Senor

[dougie]

 

 

I don't why Armstrong gets so much attention but to each his own, I really don't care what he thinks. IMO I think the odds are 60-65% that a major secondary bottom is forming right here, however the less probable possibility of a 10-20% plunge from here and right away is keeping me very careful using only light trading positions. If we can rally significantly early this week I will start becoming more confident a low is in place and likely increase longs, conversely a sharp and sustained decline below 1170 increases the odds that new lows below 1046 are going to occur. That's how I currently see it
 
BSing away
 
Senor

i am w/you on all you said. in the 90s martys short term trading got him into jail. he says they wanted the code, and our hero refused to give it
to them. i read him to find out what everyone is thinking.
silver failing to make new lows w/gold adds more divergences to the fire. my big and main concern is modi. if he bans gold
importation , then the citizens buy orders are filled by the mafia. which in 13 w/the 10% tax and the 80/20 rule(most jewelers
are not set up for export)sold the people about 1/5 of what they wanted. so gold plunged then. w/a ban a similar thing can occur
i am reading that spot prices for gold in india is much higher than market prices here. w/taking 500rps/1k rps notes. folks
either lose the money or try to hide it and buy gold etc. its very interesting circumstances modi has created. all part of
the hunt for tax money.
dharma

 

 

 

Bueno stuff amigo. I forecast and trade off the technicals and using Ewave, however I always try to have an understanding of the fundamentals. IMO with the Trump victory and a very volatile world both economically and politically I have to think gold will do well in what I think will be a very "unstable" environment. Add to that rapidly rising interest rates in a world drowning in debt and that just adds another big time dimension. This is not short term stuff but about the next several years IMO. 

 

NO BS

 

Senor

 

Great point. What happens to the real estate bubbles if we see rates really tick up?

[senorBS]

 

 

 

I don't why Armstrong gets so much attention but to each his own, I really don't care what he thinks. IMO I think the odds are 60-65% that a major secondary bottom is forming right here, however the less probable possibility of a 10-20% plunge from here and right away is keeping me very careful using only light trading positions. If we can rally significantly early this week I will start becoming more confident a low is in place and likely increase longs, conversely a sharp and sustained decline below 1170 increases the odds that new lows below 1046 are going to occur. That's how I currently see it
 
BSing away
 
Senor

i am w/you on all you said. in the 90s martys short term trading got him into jail. he says they wanted the code, and our hero refused to give it
to them. i read him to find out what everyone is thinking.
silver failing to make new lows w/gold adds more divergences to the fire. my big and main concern is modi. if he bans gold
importation , then the citizens buy orders are filled by the mafia. which in 13 w/the 10% tax and the 80/20 rule(most jewelers
are not set up for export)sold the people about 1/5 of what they wanted. so gold plunged then. w/a ban a similar thing can occur
i am reading that spot prices for gold in india is much higher than market prices here. w/taking 500rps/1k rps notes. folks
either lose the money or try to hide it and buy gold etc. its very interesting circumstances modi has created. all part of
the hunt for tax money.
dharma

 

 

 

Bueno stuff amigo. I forecast and trade off the technicals and using Ewave, however I always try to have an understanding of the fundamentals. IMO with the Trump victory and a very volatile world both economically and politically I have to think gold will do well in what I think will be a very "unstable" environment. Add to that rapidly rising interest rates in a world drowning in debt and that just adds another big time dimension. This is not short term stuff but about the next several years IMO. 

 

NO BS

 

Senor

 

Great point. What happens to the real estate bubbles if we see rates really tick up?

 

an el crasho

[senorBS]

added some GDXJ at 34.07 and initial SLV at 15.69, will use relatively tight stops

 

BSing away

 

Senor

[senorBS]

love the early action, modest gap up, a pullback to fill it and scare the crap outta the few bulls around, and now a nice bounce back up and lets see if we can quickly get to new session highs which would be a bueno positive IMO

 

BSing away

 

Senor