475 replies to this topic

[tradesurfer]

 A 2 bagger should be in the cards for NUGT 

 

  

 

well nugt returned 1000% in 2016

 

would it be too greed to assume a 500% return on this leg up ?

[Russ]

 

 A 2 bagger should be in the cards for NUGT 

 

  

 

well nugt returned 1000% in 2016

 

would it be too greed to assume a 500% return on this leg up ?

 

that would be just back up to last summer's highs,  seems likely and if this is the wave 3 that dharma talked about before, then that should push it even higher. I will most likely hold until late Oct.

[Russ]

what is with the huge august monthly volume on gold futures?   https://www.investin...ommodities/gold

Edited by Russ, 28 August 2017 - 04:00 PM.

[gannman]

http://kingworldnews...rge-above-1500/

 

his magic number for the gold futures was 1303.4 0 this week which we have blown thru

 

what i am hearing him say is that taking out this number and we could see a surge to 1500 in gld 

 

all fwiw 

[Russ]

http://kingworldnews...rge-above-1500/

 

his magic number for the gold futures was 1303.4 0 this week which we have blown thru

 

what i am hearing him say is that taking out this number and we could see a surge to 1500 in gld 

 

all fwiw 

That would take the HUI up to your original forecast of the 400ish area, the 2012 year lows.

[Russ]

 

http://kingworldnews...rge-above-1500/

 

his magic number for the gold futures was 1303.4 0 this week which we have blown thru

 

what i am hearing him say is that taking out this number and we could see a surge to 1500 in gld 

 

all fwiw 

That would take the HUI up to your original forecast of the 400ish area, the 2012 year lows.

 

the equivalent number for NUGT is the 3000 dollar zone which would return about 100 times the money of my last entry point of 31 (of course there would be splits along the way). That would be pretty mind blowing but hard to see happening by late October which is my short term high signal for the gold stocks indices.

[gannman]

Ha ha trip to Tahiti in the cards russ why not short term we are overbought maybe a pullback

[stubaby]

With bullish talk like that - could be more than a small correction!

 

Keep calm guys!  Yesterday WAS Big!  Now we have the ball, and are starting OUR drive down the field.  It's a long game - best to prepare for a defensive stand soon!

[johngeorge]

Thanks stubaby

 

Good to see you   Glad to know you think it's time to start looking at getting defensive.  Certainly doesn't hurt to show some caution here. I am ready for backing and filling that could start at any time. 

[dharma]

this is the thing in this sector the gurus come out get everyone all bulled up after the breakout has occurred , then when it goes down to 1050 they have arrows pointing to 800 and so it goes. 

i try to step back,  in 11 we topped at 1922  then in 12 we pulled back made a low  then rallied to 1392   consolidated then in 16 we rallied to 1377  so that is the base 12-16 capped by 1392 and 1377 w/in that base is an inverse h&s pattern  so , this all could be more base building. to build a skyscraper you need  a big foundation.  for me we need to close above 1392 and then we are out of the base and in the next phase of the long term bull market. yesterday, was a breakout and on volume.   what i see is 1-fund managers are making small % allocations to the sector -5%ish  2-diwali indian dealer buying is set to begin

now hopefully,  folks used the base building to accumulate. not chase here which could be a trap if 1392 is not put in the rear view mirror. if it is then the next phase of the bull will begin.  i know , i am a broken record, its part of being old,  the majors will begin acquisitions.  and set off a new round of takeovers.  then they will build those projects out and as prices rise, their profits will make them look very attractive.  planning is key, having to chase here will put you in a weak position should price not take out 1392  i have used the 13 -16 period to build positions. soon it will translate into big rewards, hopefully w/a breakout of the box. right now its geopolitics , it will morph into concerns about reserve currency status and viability of a debt laden dollar.  greenspan has warned of a bond market  debacle.  

be cool , we still have a ways to go for the breakout .  i believe the fractal has us in early 78  , as i have been saying, and the breakout will occur late 17 and into 18  we have years left for this market to express itself. and just now investors are being made aware that this sector belongs in a portfolio.  the msm has made the sector a place to avoid. i am saying right now , miners will be valued for implied value ie gold that could be discovered in the ground. in another words the miners are still very very cheap. i saw last time it was the latter stages of the bull  where miners got ridiculously valued. and the late to the party gurus pointed at the hole in the ground and put very imaginative #s on the project. right now explorers are being valued at 100 something an ounce.  

dharma