Member
Posted 07 February 2018 - 12:16 PM
this is a very troubling market right here for the bulls, if this is a wave 3 it should be clear cut its not. the miners have retraced almost the entire advance off the december lows. gold has retraced roughly 1/3 . i believe that we bottom here by friday at the latest. then we see the nature of the rally.
dharma
Member
Posted 07 February 2018 - 02:08 PM
this is a very troubling market right here for the bulls, if this is a wave 3 it should be clear cut its not. the miners have retraced almost the entire advance off the december lows. gold has retraced roughly 1/3 . i believe that we bottom here by friday at the latest. then we see the nature of the rally.
dharma
I don't think its "troubling" Dharma, extremely tough yes. But if you look at that 4-5 yr basing pattern in stuff like the GDX and others IMO we are at the far right side and IMO somewhat mirror image of the left side back in the second half of 2013. I think its going to be very hard to pinpoint a bottom here with some stuff holding above and other stuff going a bit below the Dec 2017 lows. I am GUESSING that GDX bottom somewhere between 20.50-21.50, take that FWIW
Senor
Member
Posted 07 February 2018 - 02:48 PM
this is a very troubling market right here for the bulls, if this is a wave 3 it should be clear cut its not. the miners have retraced almost the entire advance off the december lows. gold has retraced roughly 1/3 . i believe that we bottom here by friday at the latest. then we see the nature of the rally.
dharma
I don't think its "troubling" Dharma, extremely tough yes. But if you look at that 4-5 yr basing pattern in stuff like the GDX and others IMO we are at the far right side and IMO somewhat mirror image of the left side back in the second half of 2013. I think its going to be very hard to pinpoint a bottom here with some stuff holding above and other stuff going a bit below the Dec 2017 lows. I am GUESSING that GDX bottom somewhere between 20.50-21.50, take that FWIW
Senor
the miners are tough call in here. fortunately i lightened up near the top, but i still have a sizeable position. today gold/gld hit the 34 dma and is now below it, which leads me to think by friday, we should have a bottom in place. then we should get a better idea of where we are. yes, we have built a big base in the sector. no doubt. thanks for your input. i have been holding off buying back what i sold , its a slippery slope right now
dharma
Member
Posted 07 February 2018 - 06:45 PM
this is a very troubling market right here for the bulls, if this is a wave 3 it should be clear cut its not. the miners have retraced almost the entire advance off the december lows. gold has retraced roughly 1/3 . i believe that we bottom here by friday at the latest. then we see the nature of the rally.
dharma
I don't think its "troubling" Dharma, extremely tough yes. But if you look at that 4-5 yr basing pattern in stuff like the GDX and others IMO we are at the far right side and IMO somewhat mirror image of the left side back in the second half of 2013. I think its going to be very hard to pinpoint a bottom here with some stuff holding above and other stuff going a bit below the Dec 2017 lows. I am GUESSING that GDX bottom somewhere between 20.50-21.50, take that FWIW
Senor
the miners are tough call in here. fortunately i lightened up near the top, but i still have a sizeable position. today gold/gld hit the 34 dma and is now below it, which leads me to think by friday, we should have a bottom in place. then we should get a better idea of where we are. yes, we have built a big base in the sector. no doubt. thanks for your input. i have been holding off buying back what i sold , its a slippery slope right now
dharma
I remain cautious as well as I am less than 20% long and looking for markey action that "might" allow me to ge a lot longer
Senor
Member
Posted 07 February 2018 - 08:51 PM
i was convinced the advance from dec 12 was a wave 3 now i am convinced it wasnt. this is not wave 3 action. pullbacks sb shallow not giving back
the whole advance. so good time to just watch
Member
Posted 07 February 2018 - 08:58 PM
a couple of points here gdx topped initially aug 12 2016
feb 12 2108 is 18 months or 180 degrees of the circle which is important
looking at sil you could say this decline since jan 24 is wave v of C
the C wave having started sep 7 2017
Member
Posted 08 February 2018 - 01:39 AM
this is a very troubling market right here for the bulls, if this is a wave 3 it should be clear cut its not. the miners have retraced almost the entire advance off the december lows. gold has retraced roughly 1/3 . i believe that we bottom here by friday at the latest. then we see the nature of the rally.
dharma
I don't think its "troubling" Dharma, extremely tough yes. But if you look at that 4-5 yr basing pattern in stuff like the GDX and others IMO we are at the far right side and IMO somewhat mirror image of the left side back in the second half of 2013. I think its going to be very hard to pinpoint a bottom here with some stuff holding above and other stuff going a bit below the Dec 2017 lows. I am GUESSING that GDX bottom somewhere between 20.50-21.50, take that FWIW
Senor
the miners are tough call in here. fortunately i lightened up near the top, but i still have a sizeable position. today gold/gld hit the 34 dma and is now below it, which leads me to think by friday, we should have a bottom in place. then we should get a better idea of where we are. yes, we have built a big base in the sector. no doubt. thanks for your input. i have been holding off buying back what i sold , its a slippery slope right now
dharma
I remain cautious as well as I am less than 20% long and looking for markey action that "might" allow me to ge a lot longer
Senor
when you say might i listen. and wait.
Anyone buy DUSt at the recent lows; it was screamin BUY but i coulndt pull the trigger
Member
Posted 08 February 2018 - 08:35 AM
Adding to longs around 1311 for a rally. Tight stops close to b/e.
Member
Posted 08 February 2018 - 09:29 AM
Adding to longs around 1311 for a rally. Tight stops close to b/e.
gold did hit key prev 4th wave support area in gold and are bouncing - very interesting. Also, and this is NOT short term timing stuff, but if they pass this completely irresponsible budget deal then I have to believe its another intermediate to long term positive for gold. After a huge tax cut now they are now talking about raising spending and removing previous spending limititations - un F'ing believeable! Sorry guys but I simply cannot believe (which says a lot!) what is happening, looks like when we finally "pay the piper" it's going to be July 4th fireworks on steroids. Just wow
Senor
Member
Posted 08 February 2018 - 09:47 AM
Adding to longs around 1311 for a rally. Tight stops close to b/e.
gold did hit key prev 4th wave support area in gold and are bouncing - very interesting. Also, and this is NOT short term timing stuff, but if they pass this completely irresponsible budget deal then I have to believe its another intermediate to long term positive for gold. After a huge tax cut now they are now talking about raising spending and removing previous spending limititations - un F'ing believeable! Sorry guys but I simply cannot believe (which says a lot!) what is happening, looks like when we finally "pay the piper" it's going to be July 4th fireworks on steroids. Just wow
Senor
and BTW are you watching another big GAP N GO in TYX and TNX this morning? to more new interest rate highs, I ponder the increasinging interest payments as well and I do not think we've seen anything yet. I will likely do some very light buying on weakness today FWIW
