11 replies to this topic

[gannman]

here is my count fwiw  

 

we started a bull market in the hui in jan 2016 and rallied in a wave i into aug 2016 

 

we then did an A wave down into dec 2016 and a B wave up into feb 2017

 

we then did a C wave down into mar 31 2017 . the hui bottomed in its C wave at  195.81 on mar 31

 

we are now in a wave iii up of this sequence which i would imagine would take us into the area of 450 to 470 on the hui

 

so buckle up this is going to be a good one for us imho 

 

i get 470 area on the hui because first leg was about 185 so wave iii i guesstimate at 1.5 wave i or 270 and add that onto the 195 starting point gives us about 460 470 on the hui

 

it is my best guess

[Russ]

What time frame would you be expecting hui to get to 470 by?

[AChartist]

I dont really use the cycle for price but an area could be 1425 $gold in 9-10 weeks, one sharp quick drop for 3-4 weeks

 

and 1525 in 30+ weeks. By the way my account moves on $10 gold should be good enough.

[gannman]

well the first wave took 7 months from jan  to aug 2016 so i would expect wave 3 to last longer than that  we might be in a wave 3 for 9 ,months or more hard to say 

 

but the starting point is basically the beginning of april

[Russ]

This is an update of previous chart of HUI, I am showing a big high for late 2018 which ties in with your elliot wave count Gannman. I originally thought the high would be late 2017 but it now seems to be late 2018.  One thing I don't understand is why you think this is wave iii developing, that is a subminuette wave which is the most minor you can get.

 

the Chart (notice the red downtrend line on the oscillator which showed the low in Dec. 2016 and now the monthly bar is breaking above the upper green line, very bullish) , also the blue trendline on the oscillator runs right from the crash spike of 2008 which gives this signal huge power....

 

Edited by Russ, 13 April 2017 - 12:09 AM.

[gannman]

What I mean is a big wave 3 so I am expecting a rally of about 270 points from the 195 area up into mid 400 ,s

Right now this is a buy and hold market imo no need to trade in and out

Just my take apologies for any lack of clarity on my part

[johngeorge]

My goodness gannman.  Clarity or no clarity you are calling for a doubler+ for the HUI. Russ appears to be in your camp as well.  May the force be with us!

[Russ]

My goodness gannman.  Clarity or no clarity you are calling for a doubler+ for the HUI. Russ appears to be in your camp as well.  May the force be with us!

ya think lol. 

[dharma]

actually that is a quite modest call. 

as the bull market progress" different metrics are used to evaluate the price of the miners. eg. when a miner comes out w/a feasibility study there is an inferred gold  , which today is given no value . later it will be included in the price to evaluate the value of the miner. also ,  as inflation becomes a standard feature , accepted by the market participants, then the miners will become more of a must own for fund managers.  

its a big concept to grab that miners metrics change as the fundamentals change, thus their valuations are based on different metrics

senor brought up kldx. its not one that i normally used to follow, i follow it now. and it looks to me like we are finishing a big C wave down which has gone below the Awave down thus demoralizing investors. i dont think this will be a V type bottom but over time this will be an issue to hold in ones portfolio. their mines are in canada and the usa.  excellent geopolitical locations which i believe will be more and more a factor as time progress'

i added this am . on my 9bar rsi we will have momo divergences on the daily chart from deep oversold if we were to close here. -3.75

do your own dd  

dharma

[johngeorge]

dharma

Thanks for the information.  That stuff is a bit difficult for me to grasp, but, when my stocks move up I will have a much better understanding.