1010 replies to this topic

[tradesurfer]

Guys the WEEKLY RSI on the gold price right now is 85.16

 

Have to go back more than 20 years to get higher values.

 

in 2011 it was 84

 

in 2006 it was 85.8

 

 

commercials are massively short now... so combined with the nosebleed weekly RSI in gold price and now end of month coming up here.... we are due for a hard slam down

 

nature of gold is to do violent corrections down fast.

 

there will probably be a china deal this weekend that is used as an excuse to slam gold down

Edited by tradesurfer, 27 August 2019 - 09:31 PM.

[dougie]

Guys the WEEKLY RSI on the gold price right now is 85.16

 

Have to go back more than 20 years to get higher values.

 

in 2011 it was 84

 

in 2006 it was 85.8

 

 

commercials are massively short now... so combined with the nosebleed weekly RSI in gold price and now end of month coming up here.... we are due for a hard slam down

 

nature of gold is to do violent corrections down fast.

 

there will probably be a china deal this weekend that is used as an excuse to slam gold down

yep could well happen. Specs are hard at it to be sure.

[Russ]

Guys the WEEKLY RSI on the gold price right now is 85.16

 

Have to go back more than 20 years to get higher values.

 

in 2011 it was 84

 

in 2006 it was 85.8

 

 

commercials are massively short now... so combined with the nosebleed weekly RSI in gold price and now end of month coming up here.... we are due for a hard slam down

 

nature of gold is to do violent corrections down fast.

 

there will probably be a china deal this weekend that is used as an excuse to slam gold down

With the small and large specs long and the commercials heavily short how long can this go on for and also why are the commercials short, these are the industry insiders do they know something the rest of us don't? 

[gannman]

I guess I would say how is it working out for them not so good so far

We can have a pullback sure but it is a wave 3. Don't fight the trend is

My take

[jabat]

From other website

 

[K Wave]

Do like the way Silver outperforming Gold!

 

GOLD/SILVER massive reversal over last few months.

 

But I got a call from someone who knows nothing about the markets wanted to sell all her IRA stocks and switch to gold. Apparently, the fear mongering in the media is having an effect....

 

We may be real close to a major swing top now after the big ramp.....

 

May also be time to look at stocks for election ramp.....

So far, NYA has not been able to take out the mid-Aug low....possible bullish hourly reversal candle on the open this AM...if it sticks, today could be the start of it....

Edited by K Wave, 28 August 2019 - 09:40 AM.

[dharma]

w/silver leading as stubaby said the shift from deflation to inflation is taking place.its a signal. 

i watch the cots, dont trade of em but i watch em. the commercials have been short this entire bull market, except for a brief period when this current leg kicked off. we are in a wave 3 , which is essentially in the very early stages. i dont see the 3am bombing runs. guys have been busted, gone to jail. big investors have come into the sector dalio, gundlach, tudor jones to name drop a few. sure the commercials are the banksters, they could care less about these names. i just dont know how to trade off the cots. one of the patterns i am watching jabat pictures above. is a thing of beauty.  as folks have noted, we are in an area of resistance,waiting for a catalyst to propel us to the next level.  i went off  margin.i am trading the margin and am looking for an opportunity to pick up more change. the explosive part of this leg lies ahead, the question is does a correction come first. i am still expecting an event for the broad market.  and in the currency wars, evolved into trade wars i would be surprised if a meaningful trade deal was reached w/china. they continue to steal intellectual property and export much more than they import from us. i give trump credit for being the 1st president to stand up to them. 

dharma

i have you guys by a decade, and yes i cant run as fast, but i can still catch my girlfriend!

[stubaby]

 

Guys the WEEKLY RSI on the gold price right now is 85.16

 

Have to go back more than 20 years to get higher values.

 

in 2011 it was 84

 

in 2006 it was 85.8

 

 

commercials are massively short now... so combined with the nosebleed weekly RSI in gold price and now end of month coming up here.... we are due for a hard slam down

 

nature of gold is to do violent corrections down fast.

 

there will probably be a china deal this weekend that is used as an excuse to slam gold down

With the small and large specs long and the commercials heavily short how long can this go on for and also why are the commercials short, these are the industry insiders do they know something the rest of us don't? 

 

https://www.youtube....2&v=GjSvMwIzuDc

[Russ]

w/silver leading as stubaby said the shift from deflation to inflation is taking place.its a signal. 

i watch the cots, dont trade of em but i watch em. the commercials have been short this entire bull market, except for a brief period when this current leg kicked off. we are in a wave 3 , which is essentially in the very early stages. i dont see the 3am bombing runs. guys have been busted, gone to jail. big investors have come into the sector dalio, gundlach, tudor jones to name drop a few. sure the commercials are the banksters, they could care less about these names. i just dont know how to trade off the cots. one of the patterns i am watching jabat pictures above. is a thing of beauty.  as folks have noted, we are in an area of resistance,waiting for a catalyst to propel us to the next level.  i went off  margin.i am trading the margin and am looking for an opportunity to pick up more change. the explosive part of this leg lies ahead, the question is does a correction come first. i am still expecting an event for the broad market.  and in the currency wars, evolved into trade wars i would be surprised if a meaningful trade deal was reached w/china. they continue to steal intellectual property and export much more than they import from us. i give trump credit for being the 1st president to stand up to them. 

dharma

i have you guys by a decade, and yes i cant run as fast, but i can still catch my girlfriend!

 

I noticed Steve Bannon said China would do nothing to retaliate against Trump on that video I linked but 3 days later they did impose tariffs. Bannon is expecting the US to force China to remove the arms from the south China sea islands, but I'm not sure they would dare as it could trigger a military conflict between the majors. According to Bannon China views the US as a tributary state, Trump is trying to stop that but Armstrong thinks he will fail and that the financial center of the world will move from NY to China by 2032.95, Bannon thinks China's financial system is built on sand and is going to collapse so he and Armstrong are at odds over that.   Glad to hear you can still catch your girfriend.  

[senorBS]

also watching  XOP (own some Canuck oils) and COPPER here this week for possible MAJOR lows, COPX (copper stock ETF) and FCX (own a little) and XOP may be bottoming this week - huge slaughters, as always DYODD. This IMO fits with lower and lower rates, easing any way they can, and hard assets that have been hammered bottoming and improving. Still hold goldies but I smell potential bottoms in these other areas.

 

Senor