1565 replies to this topic

[senorBS]

 

hmmm, seems negativity picking up, maybe that is correct stance? Yet I see an extreme oversold condition in gold as daily RSI is at similar area as it was at Dec 2016 low - was that the time to "start" getting bearish? DSI MA's all in low teens. I continue to see miners diverging. Silver still holding around that 15.90-16 area and is deeply oversold as well - most oversold daily since Dec 2017 low. I am sure of nothing, but does it not usually look like this at a key low?

 

And GDX and GDXJ slightly positive and even weak sister HUI up today. maybr I am dumb and blind but it has not been hard to hold long GDX here.

 

BSing away

 

Senor

yes it does. look like this and negativity rises  and you get #s like this • The DSI was unch at 10%. 

• The HGNSI was unch at -13.04%.  hard for me to join in the pervasive bearishness, , and who knows that might be the right stance.  this week is tough.  we shall see what happens next.  the dec lows are not that distant. maybe they gun for those

dharma

 

actually its really not that tough ("yet at least") as miners have held up in general very well, GDX remains in its range as it has almost all yr, some explorers have traded really well, now maybe miners finally have a "cave in" moment but then again maybe they don't? we see

 

Senor

[senorBS]

Dharma, there has been some speculation past few days of a very, very lopsided (bullish) COT being reported tomorrow in gold, lets see how that goes

 

Senor

[Smithy]

Dharma or Senor, do you know the lowest daily gold DSI reading in the last few days?

[senorBS]

Dharma or Senor, do you know the lowest daily gold DSI reading in the last few days?

yesterday I think with a string of single digit 8's in gold-sil-Plat and a big fat 94 in da dolla, and da beat goes on - got miners?

 

Senor

[Smithy]

On that question, Senor, may I inquire why you choose GDX rather that something that might offer more movement like SILJ?

[senorBS]

On that question, Senor, may I inquire why you choose GDX rather that something that might offer more movement like SILJ?

I actually own both and they remain within their trading ranges for the year, when things turn higher SILJ will likely motor better eventually, SIL has been the one that has been creamed as its at new closing lows for the entire bear correction market from the Aug 2016 high, I try to mix it up but GDX is my largest percentage holding with other positions that may come and go depending upon what I see, when I have some confidence we are "really" headed higher I will get more aggressive

 

Senor

[K Wave]

Watching 32.60-70 area today on GDXJ....IF bulls can reclaim the old floor, could be possible first sign that Miners might lead the metals outta the hole...

 

But if it gets rejected at the old floor, and turns back down, would be no bueno.....

[dharma]

yes senor , i believe the cot will enter bullish territory, but trying to read the footprints of the elephant banksters can be tricky. 

https://gracelandupd...18jun29gdx1.pngi love this chart. cup and handle , inverse head and shoulders pattern take your pick  full moon in the rear view mirror. couple of big holidays next week , i think volume will be very light next week. so the market can be pushed around  

although , there are great indications of a bottom, i am refraining from jumping the gun and getting very aggressive because of next week.  

folks the rupee/dollar is problematic right now.  gold prices are not on sale for indians.   and the chinese buying remains subdued as well    we are still in the weak part of the year

i do like the set up miners leading . 

dharma

oil is providing good support for the inflation argument

Edited by dharma, 29 June 2018 - 09:57 AM.

[senorBS]

appears we may have a case of "Beachball underwater syndrome" in the miners today - HUI FINALLY catching some fire, lets now see if gold can garner at least another $3-5 and maybe more, DXY could be toast with another nasty lookin daily divergence yesterday along with that 94 DSI - and da beat goes on

 

Senor

[senorBS]

assuming the rally sustains some of the weekly charts are going to look muy bueno....and da beat goes on

 

Senor