I suggest to wait for a confirmation... this thing doesn't bottom out flat, it's a V shape... then it needs to hold....
Don't be a knife catcher.
bottoming action for the start of a big rally
Started by
dharma
, Jul 10 2018 09:45 AM
631 replies to this topic
#331
SemiBizz
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Posted 12 August 2018 - 12:15 PM
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#332
Lee48
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Posted 12 August 2018 - 12:27 PM
turkey and venezuala appear to be in trouble. the turkish lira is starting to enter"free fallin"(a favorite tom petty song) what is significant is their obligations to banks , and this is where it gets interesting. up until today the markets in the usa have been in appreciation mode But today , the usa market along w/all the european indexes took it on the chin. to my memory 97 was the last contagion w/long term capital going belly up along w/the asian tigers getting stretched. . and the russian default on its debt
A Financial Times article reported the European Central Bank is looking into the Turkish exposure of major banks like Spain’s BBVA, Italy’s UniCredit and France’s BNP Paribas. All three of them ended the trading day down big time... BBVA nearly 6%.. so , we will find out soon which banks are exposed to turkey. these times only have relative stability and only for periods of time. and right on cue gold is in an advanced stage of its bottoming process.
now keep in mind turkey is part of nato, and the usa has a significant air base there.
dharma
we are close to the shorts having to run for cover. and as smithy points out this cot resembles the cot of dec 15 just before the turn
I was just looking at the turkey ETF, TUR. It's back down to the 2009 low around 20. 19.61 fri low, closed 21.42 pays a 8.58% div.
Might be a good long term buy. Too big to fail. I figure the banks/IMF will give them a sweet deal ASAP....lol
Reminds me of Brazil's EWZ 2016 low of 19 being an excellent long term buy with a div of 3.14%.
#333
Russ
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Posted 12 August 2018 - 02:51 PM
Markets do not always form V bottoms, sometimes they form W bottoms and M tops which are fairly common patterns. I'm not saying that will be the case this time but it could be. Possible low could form around the 21st of aug.
I suggest to wait for a confirmation... this thing doesn't bottom out flat, it's a V shape... then it needs to hold....
Don't be a knife catcher.
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#334
SemiBizz
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Posted 12 August 2018 - 04:59 PM
Markets do not always form V bottoms, sometimes they form W bottoms and M tops which are fairly common patterns. I'm not saying that will be the case this time but it could be. Possible low could form around the 21st of aug.
I suggest to wait for a confirmation... this thing doesn't bottom out flat, it's a V shape... then it needs to hold....
Don't be a knife catcher.
Markets have PERSONALITIES... I'm not talking about "Markets", I am SPECIFICALLY referring to gold and how it behaves...
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#335
Russ
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Posted 12 August 2018 - 09:48 PM
Yeah, the comms are nearly net long, lol. Only -25,000 short. Since my records were kept (2004) these levels only hit in the 2013 plunge and Dec 2015 low. These previous periods data were within 2-3 weeks of a turn.
I am seeing 179,812 short gold for the commercials for august 7th's report, not sure where you got 25,000? The next report comes out on tuesday or do you have a way of getting it early? Here's an interesting chart from https://breakpointtr...acy/?nl_id=3919
Edited by Russ, 12 August 2018 - 09:49 PM.
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#336
Smithy
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Posted 12 August 2018 - 10:07 PM
Hi Russ, my number is shorts minus longs, the net, which is around -25,000 shorts.
http://snalaska.com/...t/charts/GC.png
#337
Russ
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Posted 12 August 2018 - 10:39 PM
Hi Russ, my number is shorts minus longs, the net, which is around -25,000 shorts.
ok, thanks Smithy
"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#338
CLK
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Posted 13 August 2018 - 06:31 AM
Anyone trying to front-run gold long is wasting their money, just wait for a meaningful turn, which
I don't think will happen any time soon, maybe a bounce around 1100.
#339
SemiBizz
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Posted 13 August 2018 - 07:31 AM
Time for a new thread... let's call it
Bloody hands and fingers knife catcher bottom pickers...
Seriously... wait!
The only thing going to the Moon right now is the US$....
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#340
stubaby
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Posted 13 August 2018 - 09:54 AM
Finally getting some downside panic in pricing, which hopefully can set-up for a reversal -- starting to feel like Wave 3 of C down is picking up momentum - once complete then 4 and 5 to complete Wave C of 2, FWIW
Edited by stubaby, 13 August 2018 - 09:54 AM.
