977 replies to this topic

[dharma]

saw on cnbs this am they have extended the 75 billion a day till january.

so folks are optimistic on a trade deal w/the chinese. i dont see how this is negative for gold? something is trying to make this connection. . i dont see it.  the debt . 0 interest rates.  and the world wide printing of money these are reasons to own gold 

its a market and corrections are part of it.  silver flirting w/up on the day.    

until i see monetary restraint . fiscal restraint .  or any type of balanced budgets . i have to think gold will go higher.  interesting the take down on a friday, will not be represented in the cots. its the same old bansters.  honest we will not manipulate markets. 

some more time for the correction 

dharma 

[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

There is your test. Lets see if we run or jump

[linrom1]

Something doesn't add up with silver spot? They let futures go and gold but are building fences around silver spot $17.50?

[dharma]

now this is an interesting day  gold down silver up my account up

the gold market is trying to push the narrative that a trade deal is bearish for gold

ok

how about extending the repo program of printing 75 a day into january

how about negative rates where you have to pay the government for buying their debt 

the cots are a joke the large specs add the commercials short almost the same amount  

its a fair and square game

seasonals down into beginning of november

patience

dharma

[dougie]

the volumes in DUSt have gone through the roof...Why?

[hhh]

the volumes in DUSt have gone through the roof...Why?

I think it's a lot of hedging activity. Gold stock holders can (theoretically) hedge their entire gold equity portfolio 100% with just one third of the capital invested. If you compare the surges in DUST volume, they seem to coincide with times when the price of gold looks extended. Of course a large portion of it is likely also speculators looking to cash in on an an overbought condition.

 

I doubt there's much of a "smart money" analysis that can be applied here. DUST vs. NUGT is not a symmetrical comparison, analogous to how tops form differently from bottoms. With the exception of the plunge at the turn of the last month, gold looks to me to be in a very powerful descending wedge/flag formation that targets the $1630 area.

[senorBS]

now this is an interesting day  gold down silver up my account up

the gold market is trying to push the narrative that a trade deal is bearish for gold

ok

how about extending the repo program of printing 75 a day into january

how about negative rates where you have to pay the government for buying their debt 

the cots are a joke the large specs add the commercials short almost the same amount  

its a fair and square game

seasonals down into beginning of november

patience

dharma

really interesting session, silver held up great but SILJ got hammered (down 3.8%) and the SILJ/SLV ratio actually made a new low for the large correction that began from the large 5 up rally from late May to early August. Note that an upside gap left on that large rally was almost perfectly filled Friday and a double zig from that Aug high could now be completing into Fridays low. Gold I still favor has 5 up from 1459 (possible daily abc low) to the 1519 rally high, Fridays low looks like a potential and clear abc decline (basis 1-12 hr charts) into the 1474 low - the rally and close to the 1488 close from that intraday low to me does look promising. I see 5 and 10 say DSI readings in gold are now near 39%, new lows for this decline and happening when gold is $30 above that 1459 bottom. IMO we have a potential nice "bullish" set up going into next week and I favor the upside from here, however I still cannot rule ouut we eventually correct to 1440-1459 but right now I see that as a 1 in 3 chance while 2 in 3 that Fridays low at 1474  was a key secondary low, we see

 

Senor

[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

There is your test. Lets see if we run or jump

 

Yes Sir,

 

And I am positioned as I said.  Short 2990 as posted in TT Red's thread and long Gold stop 1470 target gold 1520-30 and spx 2900-2918 10-18 then 2.5 day bounce back to 2930-42 then 2825-23 10-28-10-30

 

Those are targets not guarantee's 

[dougie]

thanks Op.

Good a place as any esp for ST bounce

[dharma]

once whatever trade deal they get done is announced. then what? will that be the end of the good news for the stock market

another rate cut?  there are many signs the worldwide economy is slowing and stocks are priced to perfection!

the bounce into the close for gold may be something!

sharma