678 replies to this topic

[Smithy]

8 hr gold chart, upside down this Sunday evening.

 

 

[hhh]

On the 4-hr, I can see a possible 5 waves up from the bottom of 1445 to 1474, followed by a running flat just ending now.

[Smithy]

The pundits are all calling for a December low. The history of Dec gold lows for the last 8 years is:

 

12/29/11

2012 na

12/31/13

11/6/14

12/2/15

12/15/16

12/12/17

11/13/18

 

My tracking the Dec lows over 20 years gives Dec 15th as ideal.

 

I'm looking for buy signals from other sources to loosely support an entry Dec 15-30 knowing I may have to hold my nose to and through another common low date, the opening days of Jan, which may not be a low per se, but are often the low of the coming year.

 

Comments welcome.

[dougie]

I too am seeing too many people who are calling for Dec lows

[Smithy]

A possible target; formed a reversal pattern (RPW) that failed, giving a pole and reverse pennant.

 

[Smithy]

Kirkland Lake Gold to buy Detour Gold for $4.89 billion

 

https://business.fin...d-for-c4-89-bln

 

----------------------------------------------------------------------------------------------

Globe says Sprott upbeat on Kirkland's move on Detour

2019-11-26 07:45 ET - In the News

Also In the News (C-DGC) Detour Gold Corp

The Globe and Mail reports in its Tuesday, Nov. 26, edition that Kirkland Lake's second biggest shareholder, Eric Sprott, says he was "shocked" and "disappointed" when he first heard about the its plan to buy Detour Gold, though he expects the move to b a success in the long run. The Globe's Niall McGee writes that Mr. Sprott said of the acquisition of Detour by Kirkland Lake: "It's shocking everybody, as it was to me. But I've always been a great believer in the statement that you have to steal value. The value at Detour is that the production and grade can increase markedly." Kirkland Lake has also reinvented itself over the past few years. Kirkland shares have gone up eightfold in the past three years. Grades at Fosterville have typically run at least 25 grams a tonne, compared with below one gram a tonne for Detour. When asked if there is a skills mismatch in an underground high-grade miner acquiring an open pit specialist, Kirkland chief executive officer Tony Makuch said he was confident Kirkland has the expertise to do both. "Mining is mining. You just use larger equipment in an open pit versus underground. But for the most part there's a lot of similar execution," he said.

Edited by Smithy, 26 November 2019 - 10:33 AM.

[Smithy]

[hhh]

On the downside influence side, TLT has broken its recent uptrend line.

[Smithy]

Gold closed the week at $1764 and silver at $17.00.

 

It's a cold, bleak, wet and wintry night here in northern California. I've reviewed my charts and they suggest to me that there is a fair chance the low of this correction is behind us: gold at $1450.1 on Nov. 26th and silver at 16.65 on Nov. 12th.  Please note I'm often wrong, which would be confirmed by the downside break of these numbers. DYODD etc.

[Smithy]

Anyone who employs TradeStation automated strategies (algo trading) with gold feel free to PM me.