977 replies to this topic

[opinionated]

I am thinking a VERY quick test of 1470-1480 then we start the run for the roses.  If that area does not hold then Bulls are dead.  But I am basing half my opinion on the fact we break down hard next week in equities,  (Actually) I will be taking my short equities at the beginning of the Meeting tomorrow in Trumps office.  So, something between now and then that gaps Gold lower to my target would be part of my evil plan.

 

Good Trades

[dougie]

miners diverging from metals here

[dougie]

I am thinking a VERY quick test of 1470-1480 then we start the run for the roses.  If that area does not hold then Bulls are dead.  But I am basing half my opinion on the fact we break down hard next week in equities,  (Actually) I will be taking my short equities at the beginning of the Meeting tomorrow in Trumps office.  So, something between now and then that gaps Gold lower to my target would be part of my evil plan.

 

Good Trades

by hard in equities what are you looking at , 2800?

[dharma]

folks it takes time to build into the parabolic . imo, we are not near there yet...... itwe  is not at hand . we rallied a couple of hundred is all

hope springs eternal- stock guys continue to believe a deal is imminent. i dont have such hopes

we keep poking (china and the usa) each other in the eye and then to sit down and say lets be friends i dont think is happening

stock market priced to near perfection. and yet the political agenda is a mess .both sides dont want compromise. this does not bode well

as for gold it is listless . extending printing of 75 billion a month caused a knee jerk reaction. ge cut pensions off for 20k employees bye bye socialism

seasonals down to months end , i am watching w/great interest.  dont want to shoot myself in the foot

dharma

[opinionated]

 

I am thinking a VERY quick test of 1470-1480 then we start the run for the roses.  If that area does not hold then Bulls are dead.  But I am basing half my opinion on the fact we break down hard next week in equities,  (Actually) I will be taking my short equities at the beginning of the Meeting tomorrow in Trumps office.  So, something between now and then that gaps Gold lower to my target would be part of my evil plan.

 

Good Trades

by hard in equities what are you looking at , 2800?

 

 

Yes,

 

Hard to put a number on the cycles but I look for a hard down next week through Friday

 

I covered longs from Mondays bottom this morning at 2944 

[opinionated]

For Trading in General Larry Williams is very good.   Here is his latest views.... Spoiler he does not endorse Gold (AT ALL)

 

[dharma]

if i look at the 2/19 correction it lasted 2-1/2 months , the highs were 9/4  so far this correction is reminding of the 2/19 to mid may correction.  to my eye so far the 2 corrections  look similar. just a heads up

i am long term bullish, short term looks like a toss up to me

so i sit

dharma

[ryanoo]

Metals and VIX about to launch. 1600 next.

https://www.thetechn...10/chart1-7.png

https://www.thetechn...10/chart2-8.png

https://www.thetechn...10/chart3-4.png

[senorBS]

if i look at the 2/19 correction it lasted 2-1/2 months , the highs were 9/4  so far this correction is reminding of the 2/19 to mid may correction.  to my eye so far the 2 corrections  look similar. just a heads up

i am long term bullish, short term looks like a toss up to me

so i sit

dharma

I tend to agree, we could meander in a range for a while, can't rule out a larger double zigzag playing out in gold down to a modest new low perhaps at 1440-1459 area, or a decline to just below the recent 1487 low and then a strong rally, also could just as easily IMO launch at any time. Overall I see  Golddownside risk limited to 3-4% from todays close and upside of 20-30% next  several months and likely a lot more further out, so the nearer term stuff is simply noise to me, holding now at about 60% long

 

Senor

[gannman]

i am on buy signals for the hui and the gdx fwiw