977 replies to this topic

[senorBS]

No excuses time as IMO we are set up for a strong upside acceleration with what I favor is 5 up from 1459 ABC bottom (from 1557 rally high) to recent 1519 top, another near term abc down overnight to a 1487 low and now a rally to 1508 early session high this morning looks like another possible shorter term 5 up and now a pullback to 1501 area, if bullish as it looks we should keep rallying strongly (and this short term pullback to 1501 area should end very soon) and soon take out 1519 and eventually head up to challenge the 1557 rally high. That's the bullish wave count to me, however any move down to anywhere close to last nights 1487 low would be something that has me exiting all or a good part of my long position - again its no excuses time IMO

 

Senor

Nice close today with things like GDX/GDXJ/HUI all making new session highs right into the close, the bull count IMO is alive and well so far and we should see continued upside if it going to play out. Also, nice day and bullish action in the gold miner/gold ratios, I expect the SILJ/SLV ratio to move sharply higher the next few days if the bull count I favor is in effect. and da beat goes on...

 

Senor

[dougie]

Wold be hard to be a bear today. Was thinking of some hedges yesterday and gld I held off but still looking at DUSt to hedge a bit here.

[ryanoo]

looks like hard times ahead for the broader indexes ...

 

"Mind the gap! The ongoing deterioration in US business & consumer sentiment is setting the tone for a potentially thunderous Q4. Following a 12pt decline off 12M highs, my US soft data composite implies #SPX could be targeting 2300. Calm before the storm? Or different this time?"

https://pbs.twimg.co...leBXUAEGTXK.jpg

[ryanoo]

"The World Gold Council reports that central banks bought more gold last year than in any year since 1971 when the last official link between the dollar and gold was severed. Many private investors also bought gold not because a new global architecture will restore gold to its central place, but because the opportunity cost of holding it fell as some $15-16 trillion European and Japanese bonds offered negative yield (of which as much as $1 trillion were corporate bonds). Central banks bought gold, but they also bought dollars. The IMF's COFER data shows dollar reserves rose by $620 bln in 2017 and $343 bln in 2018. Admittedly some of this reflects the gradual inclusion of China's reserves from the unallocated to the allocated, as it adopted the IMF's best practice, perhaps related to its inclusion in the SDR. The latest report that was released at the end of September showed another $171 bln increase in dollar holdings in the first half of 2019. The last time that the overall dollar holdings of central banks fell was in Q3 15."

https://seekingalpha...day-negotiators

[dharma]

1 the repo being extended to nov some form of qe even though powell will not call it that

japan is a basket case further down the road than the usa

and yet it seems the public is aleep at the wheel deep in debt and clamoring to buy the new i phone 11 pro

i see the bullish counts that senor brings to light.  this period in here has me concerned well dharma bulls climb a wall of worry

yes they do if there is a usa china trade deal it will be watered down. hopefully somewhere in there will be respect for intellectual 

property. china steals intellectual property at will

bottom line for me is there will be some confusion in here causing folks to doubt and then this correction will end.  they will chase

its the nature of the bull.  the rest of october appear iffy to me.   not making any ripples.  i made a small committment @.08 to abnaf (do your own dd , i know nothing) i like their story , mine location , management etc.but for the most part i am just sitting and waiting for the bull to thrust w/his horns

the debt is reaching its extremes where it is weighing heavily on everything. the debt will matter. 

just waiting for the reset

dharma

[ryanoo]

Silver futures up about half a percent, but slv is down arnd 2 tenth of a percent.  Why dont they move together?

 

"Turkish Forces Launch Military Attack Against Kurds At Syrian Border" -- 12pm est.

Will it have some effect on gold price ?

Edited by ryanoo, 09 October 2019 - 11:50 AM.

[linrom1]

Silver futures up about half a percent, but slv is down arnd 2 tenth of a percent.  Why dont they move together?

 

"Turkish Forces Launch Military Attack Against Kurds At Syrian Border" -- 12pm est.

Will it have some effect on gold price ?

SLV is priced with spot prices(XAGUSDA).

 

Erdogan's plans were well known in advance. The only people paying attention to this are the same ones who support Syria, Russia and Iran?

Edited by linrom1, 09 October 2019 - 12:56 PM.

[dougie]

Is 1 of 3 off the Oct 1 lows in hourly silver in?

[dougie]

alternatively C is in of an ABC and down we go

[ryanoo]

 

Silver futures up about half a percent, but slv is down arnd 2 tenth of a percent.  Why dont they move together?

 

"Turkish Forces Launch Military Attack Against Kurds At Syrian Border" -- 12pm est.

Will it have some effect on gold price ?

SLV is priced with spot prices(XAGUSDA).

 

Erdogan's plans were well known in advance. The only people paying attention to this are the same ones who support Syria, Russia and Iran?

 

Thx.   I'm still hoping Senor's bullish count materializes soon! One can hope, right?

 

Not sure why they would support those bad countries, lol!