1565 replies to this topic

[senorBS]

Senor, looking at the wave up since yesterday morning's spot gold low at $1307, you count us as in a wave 1 or a wave 3?

 

Putting the same question in different words, since the Jan 24th peak at $1366 have we seen a double zigzag or a triple?

Gracias...

That's always a difficult question because of the intraday failure in gold by a few bucks to make a new low as silver did. However with GLD making a new daily closing low yesterday and SLV and silver Futures doing so as well (closing and intraday) I personally will go with gold being in a initial move of a marginal new decline low (larger wave 2). my take FWIW

 

Senor

[senorBS]

normalizing rates puts the deficits of the worlds largest debtor in focus. tomorrow the largest deficit spending bill will be voted on. 

broke out of the short term trading range. 1335 close , now lets see if the last couple of years base can be put in the rear view mirror.  above 1370

dharma

lots of talk of the saudis opening their oil company up to investors . they will not be listing in ny or london

 i have to wonder if they are inflating their reserve estimates.????? why open it up now???????? do they need investors?????

thanks i have a bridge i need partners on!

yep, agree with your take on focus going to the huge deficits and overall 20 tril in debt with rates rising. Notice what oil and CRB are doing? CRB also may have ended another modest 2 wave and be getting ready to launch above 200 in the days/weeks ahead. Oh yeah the times they are a changin

 

Senor 

[senorBS]

decent turn higher today in HUI/Gold ratio from its extreme new low which I am thinking has a reasonable shot to have ended the entire correction of the massive 2016 rally, last couple days new decline lows were the 2nd new low since Feb 9 bottom with a higher daily RSI reading so the classic "bullish divergence coil" is now in place, now the HUGE Q is whether this is portending a blast off in the miners - very, very interesting

 

Senor

Edited by senorBS, 21 March 2018 - 05:54 PM.

[Russ]

Note lower advance decline volume similar to last July which also saw gdx testing it's previous lows, which led to a good rally...

 

 

 

[senorBS]

added a little NEM premarket at 38.09, about 35% long now, by the way silver may have 5 up off decline low

 

Senor

[senorBS]

decent turn higher today in HUI/Gold ratio from its extreme new low which I am thinking has a reasonable shot to have ended the entire correction of the massive 2016 rally, last couple days new decline lows were the 2nd new low since Feb 9 bottom with a higher daily RSI reading so the classic "bullish divergence coil" is now in place, now the HUGE Q is whether this is portending a blast off in the miners - very, very interesting

 

Senor

I really want to see continued strengthening in the HUI/Gold ratio to help confirm a possible key low was made, also I'd like to see the miners ignore what is currently a 300 pt Dow Futures decline

 

Senor

Edited by senorBS, 22 March 2018 - 07:50 AM.

[senorBS]

added some SLV at 15.49 FWIW

 

Senor

[dharma]

yesterdays low was marked by john paulson closing all his gold funds. i would think the banksters happily bought all his miners

w/the dow taking another uppercut to the chin, the miners are holding up quite well.  

my take is off the december lows up  is 1 of 3  , 2of 3 presumably ended yesterday. and we are beginning 3of 3 (1of 3 of 3) here.  this wave should be big and powerful, it is the wave of recognition. give it time it may , it may not be a rocket ride right away, in fact i am not looking for a rocket ride.  the sign that we are in this next up wave will be 1370 in the rear view mirror.   it takes a big base to have a big move, if its to be sustained. we have that in the complex it has been years in building.  there are some great patterns out there on the miners.  the pilbara will be interesting to see how this story unfolds.  the infrastructure is being put in place w/exchanges set up in dubai, shanghai, and one coming on in mumbai.  out of the viper dens of london and ny.  patience  the fed and every other cb is trapped.  they can only raise rates so much  before it effects their economies. so rate hikes will not last long and they need to go high enough so they can meaningfully lower when the next recession hits. 

can you say stagflation .    got pms???? 

dharma

[senorBS]

one has to ponder whether Paulson exiting gold funds is a classic sign of a bottom when a gold bug gives up? rather interesting and thanks for posting that. Nice "tone" in the miners so far, especially with Dow down close to 400 pts, 

 

Senor

Edited by senorBS, 22 March 2018 - 10:05 AM.

[dharma]

yup a classic cover of time magazine marking the bottom!

people talk about peak gold , it really seems to be happening . there are not the big finds of days gone by. its what makes chpgf so attractive its a huge find. low/medium grade by todays standards. due your own dd or you will be penniless i know nothing . this sector is notorious for liars standing above a whole in the groundhttp://www.kitco.com...show=Kitco-News

if i look at a 15minute chart yesterday could have had 5 waves up

dharma

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