195 replies to this topic

[Smithy]

Posted couple days ago "...., if gold can get above that by Monday or no later than Tuesday morning I would expect a raging 3rd wave run."

 

It is Tuesday morning and we're getting a nice upmove, currently 1236. This is the make or break to see if it has legs.

Even money in  my view. There are plenty of bearish factors.

[senorBS]

Posted couple days ago "...., if gold can get above that by Monday or no later than Tuesday morning I would expect a raging 3rd wave run."

 

It is Tuesday morning and we're getting a nice upmove, currently 1236. This is the make or break to see if it has legs.

Even money in  my view. There are plenty of bearish factors.

miners lagging is probably not a good sign, I "think" we are topping and will have a significant correction but confidence is low. Took some more profits today, down to a core 10% long position and will likely just hold that int term.

 

BSing away

 

Senor

[dharma]

agree miners lead up and down . market is firm but directionless. so i am pat for now. i want to have 20% cash which can happen
quickly. but for now watching. it is possible that gdx is making a shallow rt shoulder of an inverse h&s pattern.
the fundamental backdrop for gold is improving and keeps improving. some of what trump is doing is good for biz , but w/the mountain
of debt created by the previous administrations. it makes the situation very tough. couple that w/the longest run w/o a correction
in the stock market, which usually has a major pullback every 4 yrs and this one has been 8 yrs. there is that venus retrograde,
in 13d of aries every 8 yrs. and all of that spells trouble for the market which has become the economy..
so , i am cautious here. although my stance is fairly aggressive
dharma

[dharma]

i forgot what the number of years was, when senor posted that the sentiment #s for gold in december were the worst in 29? years.
today i am reminded of that from this quote by john templeton
“Bull markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria.”
we are somewhere between the pessimism and the skepticism. =we are very early here.
it takes foresight and patience
dharma
today fed minutes,they are out
tomorrow options expiration

Edited by dharma, 22 February 2017 - 02:39 PM.

[senorBS]

was looking at gold chart and thinking a wave 4 contracting (from feb 8 high) might have ended, not my fav looking count but a thrust to new rally highs could end a 5th wave from the Dec lows. food for thought at least and I am thinkin wave "E" may have ended today just below 1231, we see

 

BSing away

 

Senor

[dougie]

yes i like that count. one more pop in a wave 5 before a more serious correction.that would be a perfect fractal of the 2016 upmove

[dougie]

could still then be a 5-3-5 correction of the whole 2011 drop

[dharma]

was looking at gold chart and thinking a wave 4 contracting (from feb 8 high) might have ended, not my fav looking count but a thrust to new rally highs could end a 5th wave from the Dec lows. food for thought at least and I am thinkin wave "E" may have ended today just below 1231, we see
 
BSing away
 
Senor

its how it looks to me i am a buyer in the morning on weakness. in trading mode. i tried on the close, didnt get filled
there is always tomorrow and w/options expiration i dont think it will be strength until the sellers of options make their fair
share
dharma fwiw we have entered an astrological volatile period. i have turns or acceleration next monday/tuesday/
friday and then venus retrograde

Edited by dharma, 22 February 2017 - 07:15 PM.

[senorBS]

 

was looking at gold chart and thinking a wave 4 contracting (from feb 8 high) might have ended, not my fav looking count but a thrust to new rally highs could end a 5th wave from the Dec lows. food for thought at least and I am thinkin wave "E" may have ended today just below 1231, we see
 
BSing away
 
Senor

its how it looks to me i am a buyer in the morning on weakness. in trading mode. i tried on the close, didnt get filled
there is always tomorrow and w/options expiration i dont think it will be strength until the sellers of options make their fair
share
dharma fwiw we have entered an astrological volatile period. i have turns or acceleration next monday/tuesday/
friday and then venus retrograde

 

probably too late to buy this mornin as gold's post tri thrust seems well underway and within a few bucks of the rally high, could go $10 even more higher but its likely going to be over fairly quickly IMO

 

Senor

[Russ]

Breaking out now, 5th wave underway, should top out next week as I had forecast a few weeks ago, around March 3+/- a day.

Edited by Russ, 23 February 2017 - 08:47 AM.