1565 replies to this topic

[gannman]

i am now thinking that wave 2 correction ended apr 5 fwiw . 

 

just makes more sense that way. so lets see if so we should

 

see wave 3 action to the upside . we will see

[gannman]

sorry lets make that apr 9 at 11 am on the hourly chart as the start of a wave 3 advance 

[K Wave]

 

Not too keen on the Long Tailed Spike on SLV...

could go red. somehow still looks like a buy , but i am wrong way too often

 

 

The way I would play this now is long 16.65 above on Futs, or 15.70 on SLV, and out below those levels...

 

I have learned over the years to not disrespect long tailed candles...

 

Basically, the only only thing that keeps this rally alive is if we stay above the tiny body of today's candle candle on SLV. I think 15.70 is now set as a huge pivot with today's close.

If we gap up off it tomorrow, then bulls still have the ball, and perhaps for some time to come...

[dharma]

could have been a 5 wave advance in slv and we are correcting that now. 

1365 -1370 resistance  not through it this time. 

still think this move will be stealth so maybe we back off again

dharma

sgsvf is a large position of mine.  i like this company . a couple of years ago caribou migrations were an issue w/the natives. a small part of the heard migrated across sgsvf property.  that seems to have changed

[gannman]

what we need is a sustained up move 5 to 8 days in a row up 

[jabat]

 

[jabat]

 

[dharma]

fwiw , my take is sellers defended 1365-1370 yesterday, they gained control knocking the market back. now we have to see where support comes in.  it could be 1336 , 1325 or back to 1307 .  sellers gained control and now the ball is in their court.  the bulls fumbled. ( which is shown by the long wick in yesterdays action. the positive i see is the gdx is firming vs gold    if its a 2-3 day correction , that would be fairly normal. longer than that its back to base building

dharma

[stubaby]

fwiw , my take is sellers defended 1365-1370 yesterday, they gained control knocking the market back. now we have to see where support comes in.  it could be 1336 , 1325 or back to 1307 .  sellers gained control and now the ball is in their court.  the bulls fumbled. ( which is shown by the long wick in yesterdays action. the positive i see is the gdx is firming vs gold    if its a 2-3 day correction , that would be fairly normal. longer than that its back to base building

dharma

We all know about the Gold COT's - this chart therefore was the most significant results of yesterday's action, IMHO

 

http://schrts.co/s5VHKh

[gannman]

from looking at several different charts i dont see a lot of downside risk fwiw

 

saying this before the whole sector crashes ha ha but i truly dont