Gold and Platinum just cannot get anything going....
Looks like huge pivots just set on them...IF/WHEN we take out this AM pivots, will look at getting seriously long....but for now, bears still have the ball there...
emerging wave 3
Started by
dharma
, Dec 18 2017 12:04 PM
1565 replies to this topic
#1381
K Wave
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Posted 07 June 2018 - 08:56 AM
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
#1382
senorBS
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Posted 07 June 2018 - 09:49 AM
Senor, is there a way you can torture your gold count to get a 4th wave contracting tri on the 8 hour chart?
assuming you mean a bearish contracting from THE decline low, given the overnight action, then today would have to be wave "c". I don't think we get a clean 5, gonna be ugly and perhaps silver today is "leading" the way - the GSR appears to be in a large acceleration lower
Senor
#1383
senorBS
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Posted 07 June 2018 - 09:52 AM
dr $copper ............well sporting a woody!
who would have thunk it!
dharma
patience grasshopper. the die has been cast see those piles of debt. full employment, wage pressure, rising rates, eu cutting back on deflationary qe. yes golds time is coming
.
The "doctor" looks to have some serious staying power - on viagra?
Senor
#1384
senorBS
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Posted 07 June 2018 - 09:54 AM
Gold and Platinum just cannot get anything going....
Looks like huge pivots just set on them...IF/WHEN we take out this AM pivots, will look at getting seriously long....but for now, bears still have the ball there...
Only one IMO who "has the ball" so far today is the silver bulls (will they fumble or stay upright?), everyone else remains mired in pig pen where they have been seemingly forever
Senor
#1385
senorBS
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Posted 07 June 2018 - 10:00 AM
thx and fits with the "stagflation" Dharma and I have talked about developing for a few yrs now, its here IMO buy most are oblivious and IMO it will become more apparent as the months and next few yrs go by, and da beat goes on
Senor
#1386
dharma
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Posted 07 June 2018 - 10:38 AM
silver leading. clearing the 200dma is a big step, it is watched(200dma) by institutional investors.. can silver drag the entire sector w/it?. gold poked above 1300 this am 1309 remains the gann # it needs to clear i pointed out that over the last month or so gdx has made a diamond pattern breaking out above that declining line would have bullish implications.
since i came on this board in 04 , i have been in the stagflation camp. i see no reason to change that viewpoint. slowly it is being expressed. i also see wage pressures developing in the market. we are told that we @full employment.rising wage pressures are part of that. starbucks is raising the price of coffee. interest rates are rising world wide. india just raised its rate. we are in that part of the cycle. Scotiabank is getting out of the metals biz. they have been a big market manipulator. -not sure ask bunker(is he still alive)
the 1st couple of hundred dollars rise in gold will be stealth. i still feel the enormous money will be made in the miners.(based on 40 yrs of watching the sector and markets) its also the riskiest. i continue to feel that hennigh is on to something. . pacton gold has been buying up land mass . i am playing that strike w/novo and pacton. for now not interested in the other players in the area. although, i continue to read about all the players in the area. it is quite volatile and i only buy when they get taken to the woodshed. otherwise i hold and wait
dharma
i am also getting more and more interested in the marijuana sector more and more states are applying for legalization- there is alot of money for the states to legalize. now canada is at the crossroads. http://torontosun.com/cannabis/cannabis-news/bill-c-45/high-time-senate-to-finally-vote-on-legalizing-recreational-weed-in-canada i bought my first stock mjna it has a similar pattern to cann which broke out. about a week ago i tried to buy tgodf. 3.67 it raced around my buy its 6 today. they grow organic high grade which interests me. i support organic anyway, someone asked me to keep you posted. i have created a watch list for the sector. folks its the end of prohibition.
Edited by dharma, 07 June 2018 - 10:45 AM.
#1387
senorBS
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Posted 07 June 2018 - 01:13 PM
do not like the silver reversal, cut longs back to 40%, as always DYODD
Senor
#1389
senorBS
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Posted 08 June 2018 - 09:21 AM
added back some longs on early weakness, now about 55% long
Senor
#1390
dharma
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Posted 08 June 2018 - 09:36 AM
fed meeting the 12th , as a general observation, the gold market declines into the meeting and then comes out the upside after the meeting. qt is going to slow down the economy. taking money out of the system , by cutting back on its balance sheet and raising rates, is eventually going to slow the economy down. the fed is between a rock and a hard place. as they are bedded in hotel california, they can never leave the markets. they will be behind the curve as inflation starts to exert itself on the world economy more and more. and yet to prepare for the next recession they have to have room to lower rates. its been experienced by the eu , negative rates dont work. very interesting juncture here. got gold? got silver? w/another 10dsi reading this week for gold a bottom is being put in.
dharma
