1010 replies to this topic

[K Wave]

Platinum at interesting juncture here today...

 

Is this the final back test of 800 before launch?

 

Or is it going to fail to hold, and keep the bear alive there?

 

If it can clear 805 again, will start to look better for bull case after the divergent 15 min low...

 

next hour or so could tell the tale....

[K Wave]

Silver with twin peaks at 15...

 

If/When that gets busted upside, then bulls may have something to actually talk about.....

[dharma]

next  year is an election. the incumbent has to have the economy looking good to have any chance of reelection

for me the vertical move out of the chute says we are starting wave 3.

felix zulauf gave a webinar this morning. brief summary- He is expecting the Fed to stimulate in a dramatic fashion between now and the election. He said this may start very soon. He is also looking for a correction in the dollar to begin shortly. He said the Fed will cut sooner, deeper and more often than is expected. He is looking for a decline in the equities market with the Tech stocks especially getting hit. So as you would expect with the equities market headed down, the dollar headed down and the Fed aggressively easing he is telling people to buy gold and the miners now.

33%chance of a cut and june let the games begin

dharma

gold stocks are very cheap by historical standards

Edited by dharma, 06 June 2019 - 10:55 AM.

[senorBS]

Lots of metals stuff up 7-8 straight days and I see a lot of potential "fives", would not mind seeing a news related downside reaction to the employment that could fill the most recent gap, may not happen but I would not mind seeing it

 

Senor

[Smithy]

Yeah, gold last 2 days is a triangle and IMHO could break either way.

 

Senor, any opinion on S&P500?

[Smithy]

Seasonals favor a drop for gold

[Russ]

Seasonals favor a drop for gold

Hadik thinks gold will go up towards the end of June, take a rest and then go up into late Aug, which is close to my view but I think Sept high is more likely. There is a gap around 1305 on the gold chart but it didn't take out the feb high yet. Hadik mentioned the 90/10 rule that gold may have done 90% of it's move in 10% of the time so far, I'm not sure about all that.

[senorBS]

 

Seasonals favor a drop for gold

Hadik thinks gold will go up towards the end of June, take a rest and then go up into late Aug, which is close to my view but I think Sept high is more likely. There is a gap around 1305 on the gold chart but it didn't take out the feb high yet. Hadik mentioned the 90/10 rule that gold may have done 90% of it's move in 10% of the time so far, I'm not sure about all that.

 

Looks like this is a "for real" wave 3 and its just not goin to let folks in for a while unless they "pay up", works for me

 

Senor

[senorBS]

looks like is may finally be silver breakout day! Its been lagging with GSR at incredible 89-90 area, lets see if can finally "really" catch fire, lot of lagging silver stocks like FSM here

 

Senor

[senorBS]

Yeah, gold last 2 days is a triangle and IMHO could break either way.

 

Senor, any opinion on S&P500?

the Dow/S&P is sorta "ridiculous" to me as IMO interest rates don't and won't matter because they are pushing on a string, jobs weakening fast and economy as well (1.4% GDP projection this current qtr was last I saw) but "for now" traders want to push it higher because, whether it makes a new high or not I have no clue here, I just think its a joke buying here and punishment for doin that will be a b*tch in 3-6 months, in any case I am extremely happy with gold/silver performance and outlook and it appears dollar may be toast

 

Senor

Edited by senorBS, 07 June 2019 - 09:28 AM.