155 replies to this topic

[senorBS]

 

 

'Meanwhile, mine supply is likely to remain "challenged" in 2017, Credit Suisse said, forecasting 6% decline by 2018 since the free cash flow that the industry generated in 2016 has gone largely to balance-sheet recapitalization rather than investment in exploration and new projects. Output in 2016 likely declined by around 0.5%' - Credit Suisse, Dec 6, 2016.
this is setting up for the bull =less supply.
eu decided to keep its qe policies. while i feel the lows are in , it seems to me the market is waiting for something.
avi feels there is one more low https://www.elliottw...1612041429.html
it seems to me all eyes are waiting for the fed
marty-i felt years ago the end game would be a rush to the dollar , which will cause multinationals to have reduced sales/profits. i think we are there. will it continue
to an extreme? i think that is now.
dharma
https://www.bloomber...d-silver-prices

pretty much agree and this choppy action continues to follow my UGLY bottom outlook - prices just keep choppin around seemingly forever then finally a sharp rally occurs that is really hard to forecast, and perhaps some stuff double bottoms, a few make new lows, and others show relative strength
 
Senor

 

sure is ugly , and boring. not doing a thing. in the merriman video he brings up the 8yr cycle via venus retrograde. last time in 08/09 it was a kickoff to a big rally, after a substantial
decline . my feeling is its going to be very volatile. (uranus) better not to play too large for comfort . the key is going to be able to ride this thing. it is being suppressed and will spring forward w/gusto whenever it is released. not much interest in the sector as open interest is declining
dharma

 

makes sense - and me may do nothing but trade in a fairly narrow sideways range into next Wednesday's (Dec 14) Fed meeting - perhaps that is an inflection point, we see

 

Senor

[johngeorge]

India Confiscates Gold, Even Jewelry, In Raids On Hidden Money

[dharma]

Ray Merriman forcast outlook for 2017
https://www.youtube....h?v=_LOEop2Hcr8

thanks jabat , i have bought his forecast books since 04 they are helpful and interesting
i bought up the 8yr cycle the other day. , not knowing that it was venus retrograde that was a factor in its re-occurrence i have
thought that 17 would see an acceleration in the whole process. w/gold putting in a better year. this based on the 77fractal and
the 8yr cycle. just take a look at the bottom in 09 . thanks for posting the preview
dharma

[senorBS]

Given the awful chart look of the recent rally attempts and overall sideways action I just can't see any near term reason to be long, especially as we get closer the next weeks Fed decision, I still don't think there is big downside risk but we may be "triangulating" here - recent GDX high at 21.74 being wave "c" and now in wave "d" down? we see and I am out and relaxing

 

Senor

[senorBS]

interesting that the 1,2,4,6,8,12 hour CLOSE ONLY gold charts are all making marginal new decline lows with of course more technical divergences "so far", gold stock indices/ETFs not at new lows either - again "so far". Popcorn time for me

[dharma]

i suspect this down move will be the bear trap w/new lows . they have the 14th as the fed meeting. so it seems pressure will be
on the market until the announcement. this rate hike has been well advertised so i dont expect any surprises. as long as the
divergences hold we have bottoming action. gold seems to be the weak link.
watching and waiting.
dharma

[senorBS]

Given the awful chart look of the recent rally attempts and overall sideways action I just can't see any near term reason to be long, especially as we get closer the next weeks Fed decision, I still don't think there is big downside risk but we may be "triangulating" here - recent GDX high at 21.74 being wave "c" and now in wave "d" down? we see and I am out and relaxing

 

Senor

if this is D if a contracting then we should be in the latter stages now in GDX/GDXJ/HUI etc, unless it is more bearish

 

Senor

[SemiBizz]

There's no mystery here... Gold just hit 1158 -

 

From Today's Gold Forecast:

 

GOLD - INSIDE DAY ON LIGHTER VOLUME - SIDEWAYS CONSOLIDATION CONTINUES as GOLD closes at 1172 or down about 4 on the day.  So this is not pushing back up, so odds are building for lower prices.  The last low of 1158 came on strong volume, we expect that to be tested based on the failures to rally. 

 

[johngeorge]

With the  $US still beating up on the japanese yen any rallies in gold will be at best limited.  Like many others I am waiting for the Fed.

[senorBS]

if I have the right count going (GDX,GDXJ) an abc down for wave "D" of a bearish contracting could be in wave v of c of D right here, big if but possible

 

Senor

Edited by senorBS, 09 December 2016 - 01:58 PM.