634 replies to this topic

[jabat]

 

[dharma]

bottom line for miners: money velocity is still going downhttp://www.graceland...2017oct24mv.png

janet has not raised rates enough or fast enough.  when money velocity turns  so will gold/sector. i believe its coming soon.  on the fence if we go down first or not. i am bullish intermediate to long term , but right here in the short term tough call

china is building out the silk road w/help from other nations http://www.barrons.c...ocks-1508473452

dharma

pierre lasonde https://www.marketsl...view-highlights

[Russ]

looks like a double bottom is unfolding in gold

[senorBS]

exited trading position, back to flat, daily HUI/XAU chart bothers me FWIW - are they in a 3 down daily? don't know and rather watch

 

Senor

[senorBS]

With stock market getting so much love and money this year commodities IMO are the next to move. CRB index today registered the highest close since May and IMO looks to be in the process of a developing upleg that should carry prices relatively quickly to and above 200 (closed today at 185.82), We've seen copper breakout to several year highs the past few weeks and I think energy is what is going to help propel the CRB a lot higher. Lots of VERY interesting chart action here. Note that at some point I expect gold/silver to fly as well, but right now the charts in oil look primed for a "possible" breakout above $53 resistance and a move to yr end perhaps into the higher 50's, we'll see as I still like the metals but am concerned we may need 5-10% lower first, who knows could be back long moners tomorrow! 

 

Senor

[dougie]

Monday morning - the picture looks so bearish for gold I went long around 1273.50 spot.

gold and silver are either completing a wave c of an abc down or are in a 3rd wave with the new lows today - HUGELY important action. I bot a modest trading position in miners with a very tight stop, we see
 
Senor

Couldn't the c wave be incomplete here

do u mean "c" to the downside? if you do then as I said I think we have 5 up off that low basis 30 min charts in gold and this morning may be ending another short term correction IF the bull count I see is right, should know soon, Tight stops here for me
 
Senor

Now I think c wave may be done

[Smithy]

As of this morning's low at spot 1271.0, wave C is 67% of A, and wave A conversely 150% of C. Both acceptable Fib proportions so it is a possibility 1272 may hold, although Senor's HUI:gold ratio mentioned last night is nasty for the bulls.

[senorBS]

As of this morning's low at spot 1271.0, wave C is 67% of A, and wave A conversely 150% of C. Both acceptable Fib proportions so it is a possibility 1272 may hold, although Senor's HUI:gold ratio mentioned last night is nasty for the bulls.

I bot a small position into this weakness, of interest is the CRB's potential bullish outlook and Dharma's "rising rates" - it appears yields may be entering another significant uptrend and lets see if gold/miners can rally with that happening as has happened at times in the past.

 

Senor

[senorBS]

I often wonder if stocks/ETF's have "eyes". I like to watch key stocks, IF and I stress "if" NEM is undergoing a correction off recent rally highs it needed to take out the 36.88 late Sep low, it did this morning with a 36.83 low and it has bounced a bit to the 37 area, I also believe earnings are do out tomorrow morning so this is a very key juncture for this stock and the sector in general. In addition GDX barely took out its early Oct low so either large corrections "could" be ending or daily wave 3 declines could be unfolding, rather critical here

 

Senor

Edited by senorBS, 25 October 2017 - 10:24 AM.

[dharma]

http://www.zerohedge...al-gold-futures

fib retracement 1268, which is about where the h&s top pattern neckline comes in, might this be an area they take out get the bugs to cough up their holdings and then the upward trend asserts itself

i use a 9 bar wilder rsi  hourly charts for gdx, gdxj showing divergences from oversold so is gld  looks to me like typical bottoming action

and as senor pointed out yesterday $crb made new highs for the move.  in the last bull  gold and oil moved in lockstep.  

dharma

when this sector gets into gear to the upside miners will be the place to be

 

https://www.cnbc.com...it-matters.html

Edited by dharma, 25 October 2017 - 10:35 AM.