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out on a limb! bottom for wave 2 in !?


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#511 senorBS

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Posted 19 August 2019 - 09:05 AM

Si Senor

"would not mind seeing a sharp move down toward 1480 tonight in a "possible" wave c, could see a couple day sharp decline, not counting on it but would not mind seeing it play out"

 

I sold my SILJ a while back and am looking for a pullback  Will reload if/when we get one.  Lately I bought some very small cap silver plays Eric Sprott recently recommended.  Yes he is pushing his stuff, but, I don't care as they are long term plays that Eric owns  substantial positions in. I am not betting the rent money, Will know in the fullness of time if my strategy is profitable.

 

My best to you.

ideal downside target for SILJ IMO is 9.25-9.30 area, not sure if we will get there but we'll see, I did add some wdoff (Wesdome U.S. quote) at 4.90, its one of my fav trading stocks, in adding mode and would prefer to see a move lower into the close but as Stones sing

"ya can't always get watcha want"!yes.gif

 

Senor


Edited by senorBS, 19 August 2019 - 09:06 AM.


#512 dharma

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Posted 19 August 2019 - 10:43 AM

to my mind ,when this correction runs its course,the next up leg will be bigger and more powerful.the cbs are trapped. they are in hotel california.they can check out , but they can never leave. it is becoming abundantly obvious to all who are paying attention.  lower rates are in store . creation of money is in store. we are going to have an event. there will be corrections there will be games. the gold market isnt about gold ,its about paper promises.  down the road there will be a default.a failure to deliver.and the king will be butt naked

i am nibbling.

dharma

i dont  think they will make it easy for those who missed the rally or jumped ship to get back in

and they will pay up it will be the theme for this bull. i have 20 as significantly better than 19   



#513 senorBS

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Posted 19 August 2019 - 10:47 AM

I am wondering if the DOW is just about done with a corrective rally filling a downside gap while gold/miners complete their downside

correction and TYX/TNX also end a short term corrective bounce, we see

 

Senor



#514 hhh

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Posted 19 August 2019 - 10:54 AM

Miners are impressively strong here in this gold/silver down leg. I think gold is only going up from here.

 

https://stockcharts....y.html?$hui:gld



#515 dougie

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Posted 19 August 2019 - 11:46 AM

sentiment is  the fly in the ointment

doesnt rule out one  more leg but



#516 gannman

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Posted 19 August 2019 - 03:18 PM

just looking at the xau it went from 65.88 to 98.78 in this leg for a total

 

of 32.9 points close to a fib 34. i wouldnt be surprised if the next leg took

 

us up about 55 on the xau from where ever it bottoms at. first we need a 

 

bottom of course 


feeling mellow with the yellow metal


#517 gannman

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Posted 19 August 2019 - 03:21 PM

if it pulls back to 86 which would be a .38 retrace  

 

then we would be looking at a run towards 140 area 

 

on the xau fwiw. we will see it is all conjecture right now 


feeling mellow with the yellow metal


#518 Russ

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Posted 19 August 2019 - 06:09 PM

if it pulls back to 86 which would be a .38 retrace  

 

then we would be looking at a run towards 140 area 

 

on the xau fwiw. we will see it is all conjecture right now 

I think XAU has a good chance of closing that gap at .618 (78.43) by late Oct or into Nov. 


Edited by Russ, 19 August 2019 - 06:11 PM.

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#519 gannman

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Posted 19 August 2019 - 06:46 PM

i am very much with dharma here russ. i dont think the pullback will be very deep or very long 

 

we will see my friend 


feeling mellow with the yellow metal


#520 senorBS

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Posted 19 August 2019 - 07:15 PM

i am very much with dharma here russ. i dont think the pullback will be very deep or very long 

 

we will see my friend 

put me on that list as well

 

Senor