1289 replies to this topic

[senorBS]

so far we have a bounce , is it a dead cat bounce? or a V bottom? its way too early to come to conclusions.but at one point last week w/the broad market in the crapper and gold having a nice gain, it looked like a shift was about to take place. then the gold market got hit.  i do have turns 6=9  . i do expect coordinated intervention . the debt clock is a reality reminder.    this corona virus is really hyped. 

it seems to spread quite easily.  the dot plot seems to indicate we are going to have several rate cuts.  so far gold stopped right where it needed to stop. 

dharma

si, "To V or not to V, that is the question"?

 

Senor

[senorBS]

 

 

 

A post on OPTIX sentiment (I believer from sentimenttrader) from another board, very interesting and supportive of a V type bottom? we see

 

"Lowest Optix readings for GDX and J I have ever seen, 5 and 3, respectively. Whether this is the greatest royal flush of all time or indicative of a major trend change still remains to be seen, but these readings suggest a meaningful upside retracement at the very least."

Sure seems to me too much techical damage was done for a V bottom Senor. At least in broad markets...

 

only talking about gold/silver/miners, that GDXJ possible count of 5 up with a 50% plus a little retracement hit Friday below 36, GSR with its huge spike to another new many decade high, massive volume across the metals sector, those panic numbers from OPTIX. I am not "predicting" a V bottom but IMO if there ever was a good case for one it is here, and IMO the ONLY CHOICE HERE is for even more MASSIVE MONEY CREATION - I mean what else is there given the unfathomable debt levels?

 

Senor

 

IMO today's miner action is supportive of a potential V bottom in the miners/silver etc. Looking at a lot of miner charts (individual stocks as well) and its very interesting IMO. time will tell

 

Senor

 

Feel like I am talking to myself about this possible V bottom for a Wave 2 - really like that GDXJ chart/wave pattern and like what I see from a LOT of the miner/ratio charts, and GSR may have shot its wad on a buyin "climax" on that spike/death thrust to 96.50 area. But WTFDIK, but I am feelin vibes of a mini 2008 bottom and launch scenario, we see

 

Senor 

[dougie]

I got my eye on ALL inverse gold and silver tracking ETFs: DGLD, DSLV, DUST and JDST. These should be nothing short of money making machines...waiting for rebound in indexes and metals to fade.

Keep us posted Linrom.

How low do you think this C wave goes anyhow?

[dougie]

Ladies and gentleman: step right up...

[dharma]

fed cuts .5% dow down 300 to=350 in a heart beat new fed rate 1-1.25% they are running out of amo  boj stands ready ecb stands ready. print print print. my market indicator on the board is green 

what a surprise.! not

repo market spikes fed throws money at it

corrections are part of the process.  i had 2 juniors make moves yesterday.   waiting to see what happens into my turn . i havent sold a thing.  as per my strategy.   

[K Wave]

GC resistance zone 1630...might not be bad idea to pocket some on the "news"

[linrom1]

It's not doing anything for the market, they just ignited gold.

[linrom1]

 

Gold was rolling over, now there exists possibility that its doing this?

[Russ]

JNUG needs to jump the creek to turn positive... 

[dharma]

i gave my dates 

here is what i am watching price wise. 1608,1620,1632,1644, we 

 breaks into the next price cycle 1681 from a different approach 1640 breaks into the next price cycle and that is what i am focused on can the market do that we are there right now

i believe the commercials covered lots of shorts on fridays high volume plunge.   

its obvious to me , and sometimes i am alone, and it takes time for the market and everyone else to catch up. they are going to print , print , and print some more. the  ecb and boj stand ready to do the same . europe and japan already have negative rates.  

the main expense in mining is oil price w/these low oil prices miners become cash cows.   opec meets today . and tomorrow will they have meaningful cuts.  the fear created by this corona virus is off the charts. the flu comes every winter people get sick and the weak perish . happens every year. this corona virus is highly contagious but so far the death rate of 2% is quite tame.

its your money . you decide

the bull wants as few riders as possible.   all they can do now is supportive for higher gold prices

dharma