The gold commies are a mixed bag. Overall yes they are holding on to relatively high short positions which would indicate their "smart money" expectation of lower gold prices. But in the shorter term the rate at which they have reduced their net short position from -272,000 to -210,00 is a moderate buy signal. Think in RSI terms.
emerging wave 3?
Started by
dharma
, Sep 13 2017 10:07 AM
634 replies to this topic
#322
senorBS
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Posted 06 November 2017 - 09:56 AM
decent early miner action so far, nice to see the big boys Nem and Aem leading so far
Senor
#323
gannman
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Posted 06 November 2017 - 10:20 AM
fnv up 2.87 i guess they liked the earning lets see if it keeps it
feeling mellow with the yellow metal
#324
senorBS
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Posted 06 November 2017 - 10:28 AM
fnv up 2.87 i guess they liked the earning lets see if it keep
didn't see that, thx for pointing it out, lots of pretty decent looking miner charts IMO
Senor
#325
gannman
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Posted 06 November 2017 - 10:42 AM
honestly senor i am really liking what i am seeing right now but i am afraid to say it ha ha
looking at the gdx chart i think it is very possible we are going to launch
good trading
feeling mellow with the yellow metal
#326
senorBS
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Posted 06 November 2017 - 10:48 AM
decent close with GDX at 22.44, down a paltry 14 cents, nothing at all concrete but I like my scenario for a possible completed thrust below 22.30 and at least a good near term low. Nice closes in GG and AEM in positive territiry
Senor
so far I am liking the scenario I outlined for one more thrust down in the miners for at least a good trading low (bulls eye so far) and "perhaps" something much more important. I view a lot of the charts as massive base building going all the way back to late 2013, with final lows being put in place in late 2015 early 2016 in GDX/HUI etc. I don't think we are going to test the late 2016 lows but as of yet can't rule that out the next few months. about 40% long now
and CRB just keep "third wavin" norte now at 190.50 up another 1.12 so far today, and da beat goes on........
BSing away
Senor
#327
dougie
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#328
dougie
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#329
dharma
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Posted 06 November 2017 - 11:18 AM
the lows , the last few years have come in december, this year it may be a higher low in december?!
we are very close here. and we may be there. few catch the bottoms
dharma
http://www.moneycont...ay-2405561.html
Edited by dharma, 06 November 2017 - 11:20 AM.
#330
dharma
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Posted 06 November 2017 - 12:53 PM
the key for me is mining shares are at extreme low valuations vs gold. now granted , mining is a horrible biz, and its filled w/hucksters, HOWEVER, there are still metrics and at this point mining is very cheap relative to gold . like 15 year low valuations.
the rubber band is about to snap the other way. i have seen before where miners are valued by different metrics, than the ones being used today.
in the last year the stock market has tacked on tremendous outsized gains. alot of things will have to unfold perfectly for them to be instituted. my guess doubt will creep in and correction will begin in the broad market. which will reverse the pms.
the perfect world will come back to reality. and this big foundation or base in the pms will begin price appreciation
dharma
that and bus fare will get you on the bus!
