1565 replies to this topic

[senorBS]

chinese new year buying continues. gold and miners overbought.  there will be normal corrections we have risen 60 so far and a correction seems due.  i believe , based on past chinese new years they continue to buy into their new year in february. 

not inclined to do much but enjoy the ride.   the fed is backed into a corner . if they continue to raise rates at some point that will slow business down. if they stay here or lower the dollar gets hit  and gold will soar. there are inflationary pressures on the economy.    so many spinning plates.  gold looks good here having just broken out of a wedge pattern.  as the tide of inflations asserts itself managers will come to the miners for protection.  and they already are.   2018 is the year it starts to come together.  

dharma

and CRB appears headed norte in a possible iii of 3 and likely IMO to go well above 200 muy rapido. I like the chug higher as it creates doubt, no big $20 or more up day, just bueno steady buying, so far so good

 

Senor

[dharma]

yes and today is significant close- last day of the year, month, and week. so this close above 1300 is significant

looking for some consolidation should not be deep , but short in time and not deep in price

dharma

[dougie]

1390 triggered imo

[Russ]

yes and today is significant close- last day of the year, month, and week. so this close above 1300 is significant

looking for some consolidation should not be deep , but short in time and not deep in price

dharma

Anyone hear what Armstrong's yearly bullish reversal number for gold is?

[Russ]

Rogerdodger's favorite guy Jack Chan has buy signal for gold, as well as some other good analysts on this site.... https://www.silverdoctors.com/gold/

[Smithy]

This week's gold COT (data from last Tuesday) shows the market to be slow responding to the upmove. Putting this in other words, the gold and silver commies have yet to pile on the short positions, their moves have been meager.

[Smithy]

Russ, as of last October, my notes are "Armstrong bullish above 1309 and 1347 and then above 1790; gold moves into a bear mkt below $1200-$1216".

[Russ]

Russ, as of last October, my notes are "Armstrong bullish above 1309 and 1347 and then above 1790; gold moves into a bear mkt below $1200-$1216".

Thanks Smithy, so Gold missed his Oct. number by about 4 dollars but that may not be his yearly bullish reversal number. The way his system works is that the weekly close is less important than the monthly close which is less important than the yearly close, the bullish and bearish reversal numbers, last sept the number was 1362 point something, Gold came to within about 1/2 a point of his number and reversed into mid Dec.  The yearly bullish or bearish reveral number is very important to know.

[diogenes227]

I haven't been following this thread (I take it this "emerging wave 3" is bullish), so I probably shouldn't say anything but, as I begin my year-end reflection, I took a look at the gold charts (I have been buying and selling SBGL for fun this year). 

 

Granted GLD on this rally appears to have done better than the stocks, but it is overbought (like everything after this rally) and it ended the year in a often foretelling doji which repeatedly comes at or near the top of a swing, and the stock EFTs all look poised to plop again.  I can't draw a rising trend line under any of them (and the most leveraged, NUGT and JNUG remain in obvious down trends).

 

Just saying...although, thinking about it, I might enter next year looking for a short entry right in here somewhere.

 

 

http://stockcharts.c...r=1514655678712

 

 

 

 

 

[Russ]

The test of support should be over... time to rock.... 

 

Edited by Russ, 30 December 2017 - 03:31 PM.