157 replies to this topic

[dharma]

although last year during the chinese new years holiday gold rose 60 so
dharma

[senorBS]

nice to see bullish sentiment staying very low, first significant pullback yesterday saw DSI gold bullishness decline to 28% Bulls, 5 and 10-day readings near 34%, exactly what one wants to see happen if  metals are bullish IMO

 

Senor

[senorBS]

nice to see bullish sentiment staying very low, first significant pullback yesterday saw DSI gold bullishness decline to 28% Bulls, 5 and 10-day readings near 34%, exactly what one wants to see happen if  metals are bullish IMO

 

Senor

just saw yesterday's daily DSI reading at 21% so we now have a 28% and 21% bulls reading with a couple of down days that has now seen gold hit its 38% retracement area in the low 1180's. From a bullish perspective I love seeing this low a level after a $100 rally off the lows. I remain in buy the dips mode

 

BSing away

 

Senor

[Smithy]

Senor, I'm wrestling with a spot gold wave count since the Dec 15th low. I was wondering if I might solicit your opinion - what prices would you have for the wave 2 and 4 lows? 

 

BTW, if you have the second top as the B wave peak, then A=C x 1.62 around 1183. This worked at the 12/15/16 low.

[senorBS]

Senor, I'm wrestling with a spot gold wave count since the Dec 15th low. I was wondering if I might solicit your opinion - what prices would you have for the wave 2 and 4 lows? 

 

BTW, if you have the second top as the B wave peak, then A=C x 1.62 around 1183. This worked at the 12/15/16 low.

you are struggling for good reason IMO, you can probably count gold's wave 2 low at 3 different places, IMO don't over analyze it - the rally looks impulsive and we just hit the 38% retracement of what is likely wave ii of a larger 3 or C and IMO we will not likely do much more than a 38% retrace. I am now about 43% long in the miners FWIW, as long as I'be been in a while

 

Senor

[tradesurfer]

a lot of the individual miners seem to be working on shallow .382 retracements.  they keep trying to push them down but they pop right back up like a bobber in water.

 

not to mention so many cup and handle patterns on them as well

Edited by tradesurfer, 27 January 2017 - 10:33 AM.

[blackcloud]

If you pull up an hourly chart going back to the 22nd, gold trying to break up out of a pretty

tight wedge right now, upper trendline about 1186.

[dharma]

well if the full moon provides tops, then the new moon provides lows. today is the new moon. i have been in buy mode this
am. now i am taking a look around the participants in the sector , after basically 5 yrs of beating are terrified. sentiment
is low. if today wasnt the low, then we should see if by the 31st. be afraid. but, it is a time for accumulation.
dharma

[Smithy]

My, the boys in the silver pit are an excitable bunch

[senorBS]

 

nice to see bullish sentiment staying very low, first significant pullback yesterday saw DSI gold bullishness decline to 28% Bulls, 5 and 10-day readings near 34%, exactly what one wants to see happen if  metals are bullish IMO

 

Senor

just saw yesterday's daily DSI reading at 21% so we now have a 28% and 21% bulls reading with a couple of down days that has now seen gold hit its 38% retracement area in the low 1180's. From a bullish perspective I love seeing this low a level after a $100 rally off the lows. I remain in buy the dips mode

 

BSing away

 

Senor

 

really nice day for the bulls and case for a secondary low in gold and silver, silver really looked good and frankly should start outperforming if wave iii of 3 or C is getting underway. The Weds/Thurs sentiment that I mentioned was really a clincher for me, have a bueno weekend folks. For those who want to know the "Senor on the fly" indicator is in effect Monday as Senor hits the road and heads norte to the Oregon trail. 

 

NO BS

 

Senor