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Posted 01 December 2017 - 02:50 PM
bout what I expected, I more interested in seeing the aftermath of the tax plan passing - what happens the 5-days after in gold/miners and miners. IMO ultimately this horribly crafted deficit raiser will be bullish for the metals. intermediate to longer term.
Senor
Member
Posted 01 December 2017 - 04:04 PM
As per my mid nov. forecast for gold futures (the gld chart showed a low around nov 20) to bottom in early Dec, it looks like it probably has bottomed now.
Member
Posted 03 December 2017 - 11:26 AM
The gold commercials have increased their short position by 13,500 contracts. This big a move in a week gave a system sell signal last Tues and the gold price slid all week. Putting it in other words, the commercials sold the crap out of the 1299 high last Monday; that big a short position can mean more downside to come. The hedgies and small specs have been buying enthusiastically (the other side of the comm's trade) and are usually wrong.
Silver comm shorts don't match gold's, and were reduced which is slightly bullish for silver.
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Posted 04 December 2017 - 01:26 AM
today i think will tell a lot about gdx. by my wave count we sb close to THE bottom. so i want to see how it reacts today it will probably start out negative can it finish positive
we will see my wave count just doesnt have room for a large decline from here in gdx. so any large declines from here and obviously i have the wrong count ha ha
just watching i need to see gdx to close above 24 if it could do it this week that would be a real surprise for all of us i think
Member
Posted 04 December 2017 - 09:21 AM
gdxj and slv both have hourly divergences from oversold gdx and gld do not
we are bottoming. or at least the action is indicating that
exuberance in the broad market
dharma
very interesting potential SLV wave count, wave A down ended on Oct 6 at 16.42 - since then a wave B contracting tri ending on Nov 27, now a wave C thrust down below 15.42 and a bottom? we see, added a little GDXJ today
Senor
if I am correct about this SLV count of a possible "C" wave thrust down it should be done or perhaps an hourly 4/5 subdivision away for a potential key wave dos low basis daily/weekly charts, we see
BSing away
Senor
Member
Posted 04 December 2017 - 11:49 AM
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Posted 04 December 2017 - 12:23 PM
once every 6 weeks or so i get together w/a friend. he does little investing and is not very knowledgeable in the investing world he started out the conversation , dharma "gold is never going to go up" this was music to my ears it means sentiment is reaching a level of despair not seen since the bottom of 15/16 and that is exactly where i think we are. it doesnt mean the market is set to embark on price appreciation, what it does mean is we are in the bottoming process which could end at any time. so my expectation is w/in the next 3 months or so we should begin to see the metals experience price appreciation. the miners have lost significant ground vs gold . miners represent a more speculative part of the sector. so ,its only a matter of time. i do believe we will see another wave like late 15early 16 where the sector experiences price appreciation.
dharma
Member
Posted 04 December 2017 - 03:08 PM
i am tempted to buy but i will wait for confirmation . gdx above 24 works for me as a go
Member
Posted 04 December 2017 - 03:35 PM
well was that as blue as the sky gets for the broad market!???
are these valuations realistic?
what would happen if the day after the tax break we saw a reversal day????
just saying what if..............
dharma\
your guts may be right gann man!?
Member
Posted 05 December 2017 - 10:17 AM
The weekly up sloping trend line support from 12/15/17 comes in at exactly spot $1264.1 today. Gold low so far, 1264.5.
It is a kiss so far.
