i like the way the dollar is trading here and think it is very bullish for gold
yes it will bounce at ssome point but so what i am in this for the long term
and the long term in gld slv and the stocks is up imo
wave 3??!!
Started by
dharma
, May 01 2017 09:40 AM
575 replies to this topic
#261
gannman
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Posted 31 May 2017 - 02:24 PM
feeling mellow with the yellow metal
#262
dougie
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Posted 31 May 2017 - 08:05 PM
Maybe the c of 2 here needs some work to the downside?
Overall, sentiment suggests that we are NOt likely to go much higher yet.
I still think a smack down to 1000 area is not a remote possibility
#264
senorBS
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Posted 31 May 2017 - 09:06 PM
I bet if you plugged in GDXJ it would look even worse, BTW gold might have ended iv of 5 today from the 1206 May low so we could correct that rally and perhaps the miners work lower to end what I favor is an ongoing correction
Senor
#266
dharma
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Posted 01 June 2017 - 11:47 AM
i take the capitulations that have occurred recently in the miners as a sentiment bullish signal, people have thrown in the towel , taken their money and moved it elsewhere. the pattern in the market has been to decline into the jobs #, then rally out of it. saturday, the gst new tax rate will be announced in india. currently @10% i dont look for any help from the indian govt. the downtrend line from the 11 highs comes in @around 1280 the next rally should take that out.
that new zen block chain currency is +30% in a few days.
dharma
saw that interview w/hillary not one introspective insight from her. w/choices like these , our next choices should be fairly simple and straight forward. then again its a stupid species!
#267
dougie
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Posted 01 June 2017 - 12:10 PM
I bet if you plugged in GDXJ it would look even worse, BTW gold might have ended iv of 5 today from the 1206 May low so we could correct that rally and perhaps the miners work lower to end what I favor is an ongoing correction
Senor
Curious to know what your bearish count is if you have time?
#269
claire
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Posted 01 June 2017 - 02:22 PM
What's his track record re big predictions such as this recent one?
#270
senorBS
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Posted 01 June 2017 - 02:23 PM
I bet if you plugged in GDXJ it would look even worse, BTW gold might have ended iv of 5 today from the 1206 May low so we could correct that rally and perhaps the miners work lower to end what I favor is an ongoing correction
Senor
Curious to know what your bearish count is if you have time?
IMO we have a daily 5 up from the early May low to the May 17 high in GDX and several others as I have mentioned before. And since that 5 up high we have been in correction mode with NOTHING impulsive to the downside, so the market trading action has done nothing to change my bullish outlook, the GDX may yet need to go below 22.20 to complete a double zizzag correction as I have also mentioned before. And worst case IMO is that gold has five up as well from the 1206 low (to 1274 high) and could correct a bit more, so I have my reasons to be bullish and to buy weakness, I may be wrong but this is fairly high probability action in my work, we'll see how it plays out
Senor
