Jump to content



Photo

wave 3


  • Please log in to reply
98 replies to this topic

#31 Russ

Russ

    Member

  • Traders-Talk User
  • 5,753 posts

Posted 03 December 2019 - 10:51 AM

Bigger picture, there are developing trends on gold for a high next August but these are not confirmed yet, initially a high into late Jan or even March/April should happen. Longer term as Armstrong said, gold and the dow can both go up into the major pi cycle crisis time of 2032.95 after that is 'crash and burn' of western civilization.  


"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong



http://marketvisions.blogspot.com/

#32 K Wave

K Wave

    Member

  • Traders-Talk User
  • 3,635 posts

Posted 03 December 2019 - 10:56 AM

It's beginning to feel like 2007. Silver did crash with the market, but it bottomed 5-6 months before the market did and of course it then began to rise.

 

I also suspect that GDX might start to correct here since it rallied in 5 waves up in a corrective move.

With all due respect, I think you are reading the tea leaves wrong here...

 

GDX/GDXJ are on the verge of exploding higher, once this last bit resistance at 1485 is cleared on GC....

 

A close over 39.50 on GDXJ, and over 28 on GDX will pretty much lock it in...we are reclaiming island top here today on hourly chart....that is normally extremely bullish.

 

Let's see where we are by end of today....


Edited by K Wave, 03 December 2019 - 10:57 AM.


#33 K Wave

K Wave

    Member

  • Traders-Talk User
  • 3,635 posts

Posted 03 December 2019 - 11:05 AM

Here is a 2 hour look at NUGT.

 

Really hard to see this a bearish. What it does look like is a market that finally broke the downtrend in June on the reclaim of the 900 after a final shakeout.

And now it looks like a picture perfect back test of the 900, and after an extended corrective wave, is re-energizing for next upside assault wave with a huge breakaway gap..

 

nugt.png


Edited by K Wave, 03 December 2019 - 11:05 AM.


#34 linrom1

linrom1

    Member

  • Traders-Talk User
  • 1,001 posts

Posted 03 December 2019 - 11:17 AM

 

It's beginning to feel like 2007. Silver did crash with the market, but it bottomed 5-6 months before the market did and of course it then began to rise.

 

I also suspect that GDX might start to correct here since it rallied in 5 waves up in a corrective move.

With all due respect, I think you are reading the tea leaves wrong here...

 

GDX/GDXJ are on the verge of exploding higher, once this last bit resistance at 1485 is cleared on GC....

 

A close over 39.50 on GDXJ, and over 28 on GDX will pretty much lock it in...we are reclaiming island top here today on hourly chart....that is normally extremely bullish.

 

Let's see where we are by end of today....

 

You are probably right. Thanks!



#35 dharma

dharma

    Member

  • Traders-Talk User
  • 8,023 posts

Posted 03 December 2019 - 11:28 AM

thanks senor. 

i am a professional astrologer, and when jupiter moves from optimistic saggitarius to capricorn its time for gold to change direction. that happened yesterday. so based on everything . i thought that was the time for an end to the long in the tooth correction.  

now we need to see the commodity market produce another impulse up. its the stagflation that get the sector in gear

i have been doing this for a long time. back in the day platinum carried a premium to gold  . the huge discount is so enticing , i keep adding to plg , i mean its 1.36 and in 10/11 it was 500 i think it offers tremendous potential. dont know when or for that matter if its going to start , but i may be wrong , but the risk/ reward is so ridiculous  that i have to take a shot. i have built a stable of explorers, not for everyone.  folks there is little to no speculation in the sector. you want something out of favor this sector is it.  the key is to pick juniors that will not need money . they are not mine builders but are in the game to be taken out.  i will throw this one out there. chpgf is my favorite in that regard . the ceo r riefel sat on the board of gg . he has done all the pre feasibility studies so money does not spend money. and they have a huge low grade deposit it got near to 20 in the bull top of 11. i am back in in a big way. riefel s mo is to not spend money but lay his traps and wait for prey . do your own dd i know nothing  but make no mistake this sector will go from hated to loved.  also , i dont own this one but goau is superior to gdx in its holdings. and its not in the hands of the banksters. frank holmes global investors is the brain child he is a bug and knows the companies. take a look under the hood

dharma



#36 dharma

dharma

    Member

  • Traders-Talk User
  • 8,023 posts

Posted 03 December 2019 - 11:48 AM

dsi =32 yesterday

We're going to add to our short-term leveraged ETF trader position in NUGT, buying $5000 of additional NUGT on every 10 cents/share pullback.
 
NUGT is $29.35 now.   
 
We'll buy at 29.20, 29.10, 29, etc, down to 27.70 (a gap), as long as our buy signal holds, and the Captain's wave counts remain as positive as they are!
 
Our US stock market trade (TQQQ) which we exited around yesterday morning's market open may go down in history as timing that is LEGENDARY!   
 
The Captain is of course short SP500 futures (with call option protection) and we are close to a buy for SQQQ, the leveraged ETF bear playy on the Nasdaq. 

 

thanks
captain & crew out!

 

dharma

 

ps indias gold imports  jump to a 5 month high . this does not include the black market


Edited by dharma, 03 December 2019 - 11:52 AM.


#37 K Wave

K Wave

    Member

  • Traders-Talk User
  • 3,635 posts

Posted 03 December 2019 - 11:50 AM

And by the way...while in a bear market the 3x bull funds get absolutely destroyed over time, in a long bull market, they can be phenomenal investments (albeit with some very scary dips along the way..)

 

This is due to the "gearing effect" of daily compounding.

 

As an example, look at TQQQ since inception during the Nasdaq Bull Run.

 

Since the low in 2011, when QQQ was at 50, QQQ has risen to 200 today, or a 300% gain.

During that same time, TQQ has gone from $1.50 to $72, a 4700% gain.

And that is with no attempt at trying to time the big (huge perhaps a better word) selloffs along the way, and stepping aside for a bit, or hedging.

 

Just some food for thought if you believe that a long bull run is beginning....


Edited by K Wave, 03 December 2019 - 11:53 AM.


#38 K Wave

K Wave

    Member

  • Traders-Talk User
  • 3,635 posts

Posted 03 December 2019 - 11:58 AM

Platinum finally showing signs of life...methinks one move move over 900 day, currently at 920, could seal in the switch to LT bull mode there.



#39 K Wave

K Wave

    Member

  • Traders-Talk User
  • 3,635 posts

Posted 03 December 2019 - 12:01 PM

For any Junior fans...

 

Check out AUY chart as it looks be just finishing a long lasting back test of the daily 900, and is now today trying to get off the launch pad....

 

auy.png



#40 K Wave

K Wave

    Member

  • Traders-Talk User
  • 3,635 posts

Posted 03 December 2019 - 12:14 PM

Dharma,

 

I haven't followed PLG. What is the backstory to the crazy drop in share price over last few years? I had to put the chart in log mode to even see the recent action. cry2.gif

 

It does look like the decline has finally been stopped since mid 2018, and at a buck and change, it certainly could be cheap.