157 replies to this topic

[senorBS]

 

nice day. looks like a short term abc down with some gap filling early on and with a bueno move off the lows the rally IMO has good chance to continue
 
BSing away
 
Senor

amigo, i tend to agree w/your analysis here. i tend to think the huge drop in oi is a very telling sign. by that i mean spec longs
threw in the towel and gave up . while the commercials basic tendency is to be short, except on very rare occasions . the commercials
are short, but as a %of oi it is very small as compared to past short positions. w/sentiment readings , as you have been bringing out
it seems like the upside has some room. we shall see.
dharma

 

I think the upside has "Grand Canyon" type room, I also think folks are underestimating the "Trump effect" of vastly increased uncertainty/instability in the world, we are entering a period IMO like no other and Gold IMO will thrive on this, perhaps I am wrong but as always I will let the charts guide me

 

BSing away

 

Senor

[dougie]

well, i for one aint buying the wave 3 hypothesis yet.

Came clsoe to buying dust today, safer to wait till manana

 

still solidly long but lots of powder

[Smithy]

Senor, you make good points but there are a few thunderheads building.

1) the published articles by the wanna-be newsletter writers are uniformly very bullish - will they all be right?

2) the hourly silver chart looks like a megaphone top - dharma take a gander and tell me what you think. Occasionally it can be a continuation pattern but not often.

I'm a little nervous.

[dharma]

Senor, you make good points but there are a few thunderheads building.
1) the published articles by the wanna-be newsletter writers are uniformly very bullish - will they all be right?
2) the hourly silver chart looks like a megaphone top - dharma take a gander and tell me what you think. Occasionally it can be a continuation pattern but not often.
I'm a little nervous.

my understanding of edwards an d magee is megaphone tops are at the top not the top of a minor move
w/that said anything is possible. i am looking at silver as having a 5 up. does it have more to the upside in this 5 or do we
correct? i dont have answers , but right here , right now it seems to me the upside is where i want to be positioned. can that
change? of course. if the market starts taking out support. right now i want to see the 1229 taken out on a closing basis to
confirm my bullish stance. if not then i will be forced to cut back . right now it looks like all systems go. we shall see
i have been wrong many times before. its the nature of the biz.
dharma

[dharma]

back when , the english and canadians were selling their gold , does anyone ever wonder who the buyers were. gordon brown became
prime minister of england as a result of his sales. quite the reward
republicans seem to always want a lower dollar . trump is no different. that is the wind at golds back. the gold bears are still
out there growling . knocking gold 10 off todays high. recognition will come in when we pass last years highs. the fed wants to
see more inflation. of course a lower dollar will help w/that. debasing the currency w/qe added to the deflation of the time.
what i am saying here. is the winds are shifting , a lower dollar will be the wind in golds sails. sure its still a market w/ups
and downs. db reported earnings today , its down nearly 4% it too will provide gold w/some positive back drop. 17 will be better
year for gold than 16 it all starts by opening the gateway to higher prices 1229 on a close opens that door.
dharma
hgnsi fell 10 yesterday to 11.33% lots of room to the upside stay tuned
china back to work tonight

Edited by dharma, 02 February 2017 - 11:34 AM.

[dharma]

"Gold is the money of kings; Silver is the money of gentlemen;
Barter is the money of peasants; but Debt is the money of slaves."
not going to get caught up , we are battling for 1220 right here.
market sees that as important. so it is . i have time, and i am going to
give the market time. still leaning strongly to higher prices
dharma
w/this administration wanting a lower dollar , that will put the wind at golds back

[senorBS]

I think a weekly GLD close only chart says it all, a several week move straight up off the Dec low, first down close last week (wave 2), now a new closing high for GLD this week which IMO is very likely wave 3 getting going, we see

 

Senor

[Smithy]

[Smithy]

[dharma]

smithy , that is a key point i was making a week or so ago. oi, collapsed which is a very bullish sign. it generally means the spec
longs have thrown in the towel. its a fairly rare event. but it did happen in this market. its one of the reasons i am so bullish
here. of course i want to see 1229 in the rear view mirror and then the 200dma which is also above the market. now russ' study
calls for a top mrch 3rd , which is the day before venus goes retrograde. i am looking for a top in that timeframe. venus goes
retrograde every 19months . but every 8yrs it does so at 13d of aries as in 09 and 01.
i expect to see stagflation as a growing factor throughout 17 . that coupled w/a weak dollar policy will put a floor under gold, we
will find out soon enough what # that floor will be. for now enjoy the ride. dont listen to folks demanding the parabolic, it is
down the road not in 17
dharma

Edited by dharma, 06 February 2017 - 10:50 AM.