405 replies to this topic

[senorBS]

 

very interesting to me that both elliott waves experts, senor and stubaby, think a surprise is possible right here. right now. and yes it would surprise alot of folks

dharma

dharma:

 

It's the 5-wave up that gives us confidence - only in the sense that after a corrective sequence we will see another 5-wave up move - so buying any and all weakness now will be rewarded - at least short-term - and depending on the character of the second 5-wave advance maybe rewarded handsomely, and I will say, even those bearish on the larger ew pattern are looking higher here (in a wave b or over the medium-term, FWIW  Never any guarantees, but odds shifting this direction. 

 

stu

 

so far GDX easily holding above yesterdays exact hit of the 38% retrace, could see some volatility with Ryan/Trump care vote today bit overall I like what I see, will add on weakness

 

BSing away

 

Senor

[dharma]

thanks stu

the question in my mind is which dna does this rally represent. the 82-83 rally ? or the 09 rally. i dont have answers.  if the market reacts to the health

care vote i will buy  my boat is already full.    the 28th is options expiration so the banksters will run their usual scam. i dont hide it i am a long term bull

on this sector. but trading is part of my dna.   we are entering the bull market era. and there is a lot of skepticism-which is a good thing.  why the yen is risk off is beyond me, they are heavily in debt and are an aging population. 

dharma

[dougie]

Swissie is not exactly screaming buy is it?

[gannman]

gld and slv just keep going up fine with me i am in this for the long term i dont care about every little squiggle 

 

still get the feeling we could get a nice sharp pop to the upside if it cant go down it  will go up

[Russ]

Armstrong... "If gold closes March below 1243, this will warn that a correction into May is possible. This has been merely a 3 month reaction so there is still nothing to write home about just yet. Today, gold MUST close above 1245.50 to hold on to any gains."     Looks like the futures are closing below his number today... the close is 1243, not sure if he is talking futures or cash.

 

 

Edited by Russ, 24 March 2017 - 04:04 PM.

[Russ]

Shorter term maybe not so good.... 

 

[gannman]

the dollar is also close here imo to putting in a major top

[senorBS]

Shorter term maybe not so good.... 

 

Russ, looks like another nice 5 up and near term correction underway, could work somewhat lower next week but a bullish pattern IMO

 

Senor

[dharma]

well trumps election started w/a soaring stock market and here we are 4 months later, and the repeal of an economic disaster -the affordable health care (obama care) couldnt even come to a vote.  the bill was pulled .  now the political reality of grid lock has hit the 

trump administration. next up tax change. seems easy. rolls right off the tongue. but put in front of congress , it will become a poltical

football. so, trumponomics , could very well be found in fantasy land.  the fed is raising rates and expanding its balance sheet- a disguised money printing or qe.  yes, there are simply put a couple of possibilities . which equate to up trend or down trend. my bet is eventually the world will have had enough of debasement and gold will soar. i am not smart enough  to say yes, here and now. but i can say eventually this will be a roaring bull market as the world flees from fiat.  so sit there w/a crystal ball , that probably is equivalent to a 200 batting average and ponder.  

dharma

[senorBS]

well trumps election started w/a soaring stock market and here we are 4 months later, and the repeal of an economic disaster -the affordable health care (obama care) couldnt even come to a vote.  the bill was pulled .  now the political reality of grid lock has hit the 

trump administration. next up tax change. seems easy. rolls right off the tongue. but put in front of congress , it will become a poltical

football. so, trumponomics , could very well be found in fantasy land.  the fed is raising rates and expanding its balance sheet- a disguised money printing or qe.  yes, there are simply put a couple of possibilities . which equate to up trend or down trend. my bet is eventually the world will have had enough of debasement and gold will soar. i am not smart enough  to say yes, here and now. but i can say eventually this will be a roaring bull market as the world flees from fiat.  so sit there w/a crystal ball , that probably is equivalent to a 200 batting average and ponder.  

dharma

always try to stay away from the political stuff but the Obamacare repeal failure and hence failure to rollback the Obamacare taxes makes tax "reform" way, way tougher

 

NO BS

 

Senor