1565 replies to this topic

[goldfungus]

this is not investment advice i added to pvg just now i read their guidance and frankly i think the market over reacted to their present guidance . this is a very high grade mine operated by a very experienced ceo who is well known in the business-bob quartermaine. it is located in a great location. the mine has everything going for it. so i added. of course none of these facts guarantee anything, but i try to stack the deck in my favor as an investor.  

volume will come in later, when we break the tr.  all of this action is within the current tr.  i dont see volume being a concern or factor in here. break out of the tr then its a different ball game. so far the action looks constructive.  chinese new years is still to come.  once they go on holidays, the correction will come.  for now breaking out of the tr is the critical point.  the sinking dollar is a good backdrop for the bulls. the oil market pressing to new highs is a good foundation for the pms. lots of pieces falling in place

dharma

Great minds think alike. LOL. Doubled my position today.

[Russ]

Avi Gilburt expecting 2018 to be a big year for Gold and "he reminds us that the more energy a chart builds, the more energy it generates for an eventual breakout. The breakout he anticipates could lead to gold testing all-time highs before year-end."

 

https://seekingalpha...3868356630&dr=1

[dougie]

Someone selling large slugs of Gdx at the last 3 closes

[dharma]

looks like the correction has probably started.  there are alot of possibilities right here right now.  the one that has my attention is the 1370 high on trumps election, and modis timing of calling in the larger rupee notes.  break above that w/a couple of closes and the big tr is in the rear view mirror. its a critical juncture.  its true the gold chart has an inverse h&s pattern and a large tr as a base its a powerful setup , which is nt to say we cant be mired in the tr for a longer stint.  avi has been astute on the markets, so  i listen. its not hard to imagine many things going haywire.  for now we are stuck in the tr.  i am just sticking to my plan i added to one stock yesterday, and i have one more add left to complete my buying . this miner is in a similar situation as pvg  its a high grade strike which is difficult to get a precise grade count. 

this will require patience. looking at the 78 fractal the end of the year time frame is where the appreciated started in earnest.  imo the bull has far to run and it has time to do so. the sector is at the bottom , the stock market is more advanced in its metrics. 96 dsi on the broad market is a shot across the bow

dharma

[senorBS]

exited a lot of stuff, feel the need to be conservative after nice gains this month, will keep one or two core positions and now less than 10% long. The difficulty is that what was once 5 big daily waves up from the Dec lows in most miner/gold/silver stuff could now be 7-waves up and there is now a viable bearish count just as there is still a viable bullish count. So for now for me its time to be conservative, as always DYODD

 

Senor

[dougie]

What does 7 waves up mean and how is it that this bears count just became possible? Sorry for the ignorance

[senorBS]

What does 7 waves up mean and how is it that this bears count just became possible? Sorry for the ignorance

It means that it could now be a completed corrective upside pattern from Dec lows, or if bullish we are likely close to ending a near term correction and a wave 3 up "could resume". What it means to ME is there is a lot more uncertainty as to outcome and how the miners have acted this week is not so great, that could change quickly and I while I still favor a bullish outcome I am being conservative for now and I can always "flip da switch" in an instant. 

 

Senor

[dharma]

yes, its true there are 7 waves on the chart, which could  very easily become 9 waves up from the dec lows..  my thinking was and is the market will make a short term top in february.. mercury has been in sagg the last week or so and will remain their till the 30th=supportive of gold price.  also the seasonal chart is friendly to the market till mid feb http://www.seasonalcharts.com/classics_gold.html once the chinese new years comes, they go on holidays for a week and the banksters fill the void  i am a bit uncomfortable, that is normal for me . i like to check on all possibilities.   now trump stating yesterday that he wants a strong dollar . ok . since he has taken oath and office the dollar has been in a down move.  so yesterday, does not a trend make.  i dont see the froth at this top---- yet.  

dharma

interesting avi is so bullish.  but why not its a possibility. not a high probability at this point. 

it is a prudent move senor, even if and saying its a high probability that 9 waves appear, then there could be a larger correction to follow which will be a buying opportunity before the wave of recognition. and that is what i am planning for anyway

Edited by dharma, 26 January 2018 - 03:46 PM.

[Russ]

I have exited my positions, I could be wrong but takng profits is never bad. I am seeing trends developing for a low in April/May on some of the charts.   Here's a bearish arguments article... https://seekingalpha...88ab8eda06&dr=1

[Smithy]

Above 1366 and 1400 and we're off to the races.