1565 replies to this topic

[K Wave]

After the extremely bearish upthrust action in Silver yesterday, SLV now breaks through 15.25...so I was off by a day...

 

The easy way to play this now is to let SLV continue to fall, and eventually find its footing.

When it finally reclaims 15.25 upside, then start loading longs.

When it finally breaks above 15.70, then you want to back up the trucks for a long ride to the upside.

 

In the mean time, SLV is dead money on the long side. Do not know if this break below 15.25 will last for hours, days, or months at this point.

All I know is a break below 15.25 is a dangerous place to be long....

 

16.25 July contract is roughly the same as SLV 15.25

Edited by K Wave, 01 May 2018 - 09:30 AM.

[senorBS]

miners "so far" hanging tough as gold and silver make their new lows possibly ending wave C, critical juncture

 

Senor

[Smithy]

The problem is rising interest rates are pushing up the US dollar.

Gold in other currencies is more or less holding up okay, e.g. in AUD.

[senorBS]

USLV volume yesterday was huge, a bit higher that seen at 2017 July low and highest in past 2-3 yrs per my quick perusal, appears we are on track to a similar volume level today

 

Senor

[dharma]

its just not golds time yet, but we are rapidly approaching that window, which i believe begins in the june /july period. my turn this week , will turn out to be a bounce, is what i am thinking.   but, i am open to all possibilities. i am a buyer on weakness here, i want to see what stops lie below 1300  i am sure the gunners are aiming at that round #.  here is an interesting view https://www.tradingv...com/x/sJf95s1h/and there is this egyptian billionaire that just put 1/2 his money in gold https://www.bloomberg.com/news/articles/2018-05-01/north-korea-is-a-bright-spot-for-billionaire-who-forecasts-crash   he also is a major holder of evolution mining an australian company

at some point rising rates will kill the economy and the dollar will tumble. folks are thinking this will happen https://www.cnbc.com...-may-ensue.html

my support #s 1309,1300,1293,1277  all based on gann work 

time to be patient, lord knows one has had to have saintly patience in this sector this base has been building for years. 

i expect the rewards to be outsized. 

dharma

[Smithy]

dharma, could you explain how you used Gann to arrive at 1309,1300,1293, and 1277?

[Smithy]

This morning's spot gold low so far is $1301.7 and a little odd. It is exactly 2 months from a prior low 3/1/18 at $1302.8 and the 1 minute bottoming pattern is an identical megaphone. So within $1 and exact 60°.  A test for Gann. 

[senorBS]

its just not golds time yet, but we are rapidly approaching that window, which i believe begins in the june /july period. my turn this week , will turn out to be a bounce, is what i am thinking.   but, i am open to all possibilities. i am a buyer on weakness here, i want to see what stops lie below 1300  i am sure the gunners are aiming at that round #.  here is an interesting view https://www.tradingv...com/x/sJf95s1h/and there is this egyptian billionaire that just put 1/2 his money in gold https://www.bloomberg.com/news/articles/2018-05-01/north-korea-is-a-bright-spot-for-billionaire-who-forecasts-crash   he also is a major holder of evolution mining an australian company

at some point rising rates will kill the economy and the dollar will tumble. folks are thinking this will happen https://www.cnbc.com...-may-ensue.html

my support #s 1309,1300,1293,1277  all based on gann work 

time to be patient, lord knows one has had to have saintly patience in this sector this base has been building for years. 

i expect the rewards to be outsized. 

dharma

Dharma, I agree and maybe disagree a bit, probably because besides oversold stuff and "possibly" ending wave patterns which could of course go lower, the ONE thing here that we have had missing at almost every low of the past several years is a BIG divergence by the miners and we are FINALLY getting it here and now yet almost no one seems excited by that. Hmmm, maybe its meaningless or maybe a critical sign? we see

 

Senor

[senorBS]

I am goin skiing so y'all have fun

 

Senor

[Smithy]

?