we had brexit--selloff in gold , after a rally
trump getting elected =seell off after a rally
italian referendum=sell off
so, all of these things thought to be gold bullish have resulted in a selloff. still the divergences are in place. obviously
these events have not been gold bullish. next up the fed. money velocity is still sinking. deflation. not gold friendly
if the fractal to the 70s is to continue. then 17 should be a better year for the metal
gann guy
http://www.ganngloba...5a5f4c500c488d5
dharma
correction over? or wave 3underway
Started by
dharma
, Dec 02 2016 12:31 PM
155 replies to this topic
#12
dougie
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Posted 05 December 2016 - 11:49 AM
Where is this purported 3 I keep hearing about.
Dharma is right: selling off on bullish news ain't bullish
Dharma is right: selling off on bullish news ain't bullish
#13
senorBS
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Posted 05 December 2016 - 11:54 AM
Where is this purported 3 I keep hearing about.
Dharma is right: selling off on bullish news ain't bullish
ya don't get a 3 up until ya bottom a 2, and U keep yackin about a 3 down - how long ago did the GDX bottom? and haven't we seen a few lower gold lows with higher and higher GDX lows? higher silver lows? higher Platty lows? we see amigo
Senor
#14
senorBS
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Posted 05 December 2016 - 11:56 AM
we had brexit--selloff in gold , after a rally
trump getting elected =seell off after a rally
italian referendum=sell off
so, all of these things thought to be gold bullish have resulted in a selloff. still the divergences are in place. obviously
these events have not been gold bullish. next up the fed. money velocity is still sinking. deflation. not gold friendly
if the fractal to the 70s is to continue. then 17 should be a better year for the metal
gann guy
http://www.ganngloba...5a5f4c500c488d5
dharma
my opinion is last nights quick bounce of a FEW minutes to 1187 in very thin trading was a joke, the drop today to new gold lows to 1157, unconfirmed by virtually everything so far, IMO will be viewed in hindsight as the REAL fakeout, but we will see and I will exit longs in a heartbeat if we decline to anywhere near todays lows
Senor
#15
dougie
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Posted 05 December 2016 - 12:08 PM
Well one can see some minor 5 wave looking moves north since the lows so maybe. We have some kinda 1-2 1-2
#16
dougie
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Posted 05 December 2016 - 12:24 PM
Should see a c down on 10 min chart if so
#17
senorBS
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Posted 05 December 2016 - 12:50 PM
gold looks like a nice 5 up short term charts (worst case) off the 1157 low to recent to 1171 high basis spot. If more bullish then we could accelerate above 1171-1172 into the close, bueno stuff and remember short term counting is always a best guess
BSing away
Senor
#18
dharma
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Posted 05 December 2016 - 12:53 PM
by bringing out the 3 events i wasnt saying in my mind that bullish events went south, i was saying these arent bullish events
the correction has to finish its course. and what i am saying in my previous to that post is the signs are there that the downside
is losing momentum and the market is in a bottoming process. today so far has provided more evidence silver has reversed so has
gdxj and gdx is very close to reversing. these things are a process in this case. i am bullish and i like what i see and my money
is where my mouth is . i am saying what i am doing. wave 2 s are supposed to create a bearish market psychology , from what i see
that is the case. the last hgnsi was -20% far from the july gold highs.
the commercials. i avidly follow the cots. but imo they are only relevant at certain times. i dont see them as tipping the scales of
balance. here. having been a cash and futures broker it is impossible to know how the commercials are really positioned. alot of
cbs sold their stash. where did that gold go?????? it didnt disappear. brown was rewarded w/prime minister. he made someones happy
my point is the cot shows futures positions. not a total picture
dharma
the correction has to finish its course. and what i am saying in my previous to that post is the signs are there that the downside
is losing momentum and the market is in a bottoming process. today so far has provided more evidence silver has reversed so has
gdxj and gdx is very close to reversing. these things are a process in this case. i am bullish and i like what i see and my money
is where my mouth is . i am saying what i am doing. wave 2 s are supposed to create a bearish market psychology , from what i see
that is the case. the last hgnsi was -20% far from the july gold highs.
the commercials. i avidly follow the cots. but imo they are only relevant at certain times. i dont see them as tipping the scales of
balance. here. having been a cash and futures broker it is impossible to know how the commercials are really positioned. alot of
cbs sold their stash. where did that gold go?????? it didnt disappear. brown was rewarded w/prime minister. he made someones happy
my point is the cot shows futures positions. not a total picture
dharma
#19
senorBS
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Posted 05 December 2016 - 02:43 PM
I have to say I like the lack of excitement or posts (except me pretty much) on a possible bottom here. It's only one day but a process of divergences has been going on for 2-3 weeks now as it seems to me they have thrown the kitchen sink at gold. Divergences galore and the CRB looking like its in a possible 3rd higher already. interesting stuff to say the least
Senor
#20
dharma
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Posted 05 December 2016 - 04:33 PM
yes, i believe that is reflected in the sentiment as well
i used today to add back. i feel the explorers are in position w/inflation starting. to really have more expression. the commodity
complex is starting to express a wave 3. if you noticed zinc has been a stellar performer. chpgf has lots of zinc for example. as
the commodity complex starts to express itself fund managers will be forced to participate and this is when the miners will really
start to take off . if you notice in feasibility studies there are expressed implied and inferred gold . later in the game these
will be calculated into the price of the miner. there are many phases the market will pass through. i think the key is to have mines
in counties that have capitalism as part of their collective psyche. w/oil for example the countries just usurped the resource . so,
doing ones homework will provide fewer headaches down the road. its hard enough to find the trend , get on board and then take a seat
to be blown out by nationalization or strikes is an added dimension to be avoided
heads up
dharma
i used today to add back. i feel the explorers are in position w/inflation starting. to really have more expression. the commodity
complex is starting to express a wave 3. if you noticed zinc has been a stellar performer. chpgf has lots of zinc for example. as
the commodity complex starts to express itself fund managers will be forced to participate and this is when the miners will really
start to take off . if you notice in feasibility studies there are expressed implied and inferred gold . later in the game these
will be calculated into the price of the miner. there are many phases the market will pass through. i think the key is to have mines
in counties that have capitalism as part of their collective psyche. w/oil for example the countries just usurped the resource . so,
doing ones homework will provide fewer headaches down the road. its hard enough to find the trend , get on board and then take a seat
to be blown out by nationalization or strikes is an added dimension to be avoided
heads up
dharma
