1565 replies to this topic

[Smithy]

5 waves up on 5 min chart from new low at 8:20 am at spot 1252.3; looks encouraging

[senorBS]

5 waves up on 5 min chart from new low at 8:20 am at spot 1252.3; looks encouraging

still looks to me like SILVER really wants/needs to takeout that 16.05 (April 18) low for the year basis spot (intraday chart) and "perhaps" end the correction from the Dec to Jan possible 5 up rally, we're close now as its near 16.13 - any close under 16.18 registers a new "closing low". and da grind goes on.......

 

Senor

[senorBS]

could not resist buying a very small uslv position at 8.96, looked like a late after the close "thin" session blow out, as always DYODD

 

Senor

[senorBS]

whats really nice about silver taking out 16.05 is that all the garbage of the past months is starting to go away, IMO silver is either ending a deep wave 2 at this 16 area - correcting 5 up from last Dec to Jan, or it is very quickly going below the low of last Dec at 15.61, we see

 

Senor

[Smithy]

[Smithy]

Good call with silver, senor.

[senorBS]

Good call with silver, senor.

I'm just happy that I think things will start clearing up somewhat, we are exiting the mess IMO and this is a good thing. lets see if silver mounts a sharp rally off this 16 area, or instead plunges toward 15.61

 

Senor

[Smithy]

There's a slight chance that spot gold's overnight low of $1248.4 was THE low; if it breaks then the next target is probably last Dec12th low of 1236.5 (making for a flat).

[dharma]

what has me concerned is while gold is going down in dollar terms , the rupee and yuan are also going down, so the the 125 dollar sale in gold (from the previous highs) is not taking place in yuan and rupees.  and we have not started buying season for the indian festival. or chinese new years. so the large buyers from the far east are not found in the market. ........yet. this is troublesome

1261,1255,1248,1245,1241,1234,1227 are  the #s i am watching

there are hourly momo  divergences but just deeply oversold on the daily w/no divergences

hopefully the cots will shed some light on the situation. i expect to see the specs increasing shorts as the banksters shed shorts and add to longs  to what extent is the question.  this is not going to be easy. its not a time to be too aggressive.  more bugs will get splattered

dharma

i am only buying behind the woodshed , nothing there, hands in pockets

[Smithy]

We have divergence - silver slight new low, gold not