575 replies to this topic

[gannman]

I am thinking we might get a rally tomorrow in the metals that would be a wave iv of c

In the metals not sure about the stocks

[gannman]

it is just time to be patient here imo a great opportunity is coming no need to jump the gun

[dharma]

yes, tomorrow is the end of this cycle for hadik

senor, its  definitely a thought of mine the sentiment is through the floor.    the pms have been beaten w/an ugly stick

 all earmarks of a  wave 2 .   i am not going to throw the idea of pms out the window.  i definitely  feel  this is the next big mover, the sector is so hated, so beaten and its been years. 11 was the high.  and i still believe the 4th quarter will be killer. 16 caught everyone by surprise and it was a massive gain in gold and the miners.

dharma

[gannman]

looking at gld i think it will probably bottom somewhere around 110. it is just a guesstimate 

 

i dont have a crystal ball but if i see that level i will start to buy and look for some confirmation

 

just a thought

[Russ]

The 5 hour gold chart https://www.investing.com/commodities/gold has a nice doji star, sure looks like a bottom, Hadik may be correct that the 5th was the bottom. I bought nugt today, looking good so far. jnug looks like it has much bigger potential, a triple if it goes back to the feb  high, nugt would only be  double or so.   

[senorBS]

highest GDX/GDXJ hourly RSI in almost a month also confirming this near term rally and also IMO indicates a "character change" at least for a good while IMO, miners leading which is also a good sign, we see 

 

BSing away

 

Senor

[dharma]

india bought 120 official tons of gold in miarch  ,75 official tons in march

http://www.valuewalk...ate-hike-cycle/   gs says buy commodities during rate hike cycle

it looks to me like the miners  put in a bottom , if so the nature of this  rally can reveal alot  gold is afterall range bound. in a 2 yr base building.  the dec 16 bottom(1st rate hike) was a very strong rally, which produced a 5 wave advance, after that the possibilities are too numerous to state.  

for me, i suspect it all could be background noise, if there is a crash in the broad market.  armstrong, i am reader , not a fan, has new lows in store followed by a slingshot move.   hadik has this as the low.  i am leery of everything right now  gann said years that end in 7  are bad years for the market

so, to sum up caution in here. i finished my buying w/stops below yesterdays lows,  and i will look to sell into this rally going into july

dharma

[senorBS]

5-day silver DSI at 17.4% bulls, 10-day at 27.8%, gold 5-day at 45% bulls, lowest silver bullish sentiment in quite a while, BTW I had an upside target I posted a week or so ago for the GSR at 76.2 level, so far the high was 75.77 and we has a nice bearish daily divergence at that high, not sure its done yet but looks close IMO

 

Senor

[dharma]

today is the full moon. look for the market to be emotional. that gap up on gdx on no volume, w/no follow through

dharma

[senorBS]

today is the full moon. look for the market to be emotional. that gap up on gdx on no volume, w/no follow through

dharma

they are not making it easy to be a bull here, I actually am surprised how well the miners are holding up "so far" (lets see how they close) given the relatively poor gold action, easy to sell and hard to hold make me want to hold for now

 

Senor