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#771 K Wave

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Posted 23 January 2020 - 12:21 PM

That opening 5 min reversal candle on GDX could be the big pivot.

A 5 min close above 29 now, might get thrusters ignited.

 

would not want to see price below the bottom of that opening candle now...

well, that one didn't make it. bulls running out of time very short term to get a fire lit..


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#772 linrom1

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Posted 23 January 2020 - 12:36 PM

Is someone dumping silver and buying gold? It simply makes no sense for currency manipulators to hold down silver and allow gold to appreciate.  Gold has now consistently made new highs while silver is consistently making lower highs? The most logical explanation is that there is some heavy liquidation going as the metal is becoming less and less valuable as a monetary unit, losing out to gold and cryptos.

 

As I type this GC is up $0.57% and SI is down $.004.


Edited by linrom1, 23 January 2020 - 12:38 PM.


#773 senorBS

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Posted 23 January 2020 - 01:36 PM

Is someone dumping silver and buying gold? It simply makes no sense for currency manipulators to hold down silver and allow gold to appreciate.  Gold has now consistently made new highs while silver is consistently making lower highs? The most logical explanation is that there is some heavy liquidation going as the metal is becoming less and less valuable as a monetary unit, losing out to gold and cryptos.

 

As I type this GC is up $0.57% and SI is down $.004.

I would just chill on silver, likely ended a wave 2 decline this morning and the GSR suggests a large upward correction since the Sep 3/4low is likely currently ending near the 88 area which IMO suggests the next BIG downleg in the GSR lies dead ahead

 

Senor



#774 tradesurfer

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Posted 23 January 2020 - 05:26 PM

i keep trying to get long this sector but very difficult recently. keep taking drawdowns.... frustrating..

 

currently 100% flat, no position


Edited by tradesurfer, 23 January 2020 - 05:26 PM.


#775 senorBS

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Posted 24 January 2020 - 10:22 AM

 

 

 

in SLV I can see the case for one more move down to below the low a few days ago at 16.51 to complete  double zig from the 5 up high at 17.21, it "might" be done but one more zig down could easily occur - a weak close today would likely increase the odds of that happening while a strong close diminishes those odds, we see

 

Senor

This move of that bottom in silver is far from an impulse, so you're probably right that we need another 5 wave down.

 

it matters very little IMO as far as my positioning goes, if we get that possible drop I would simply do some buying, maybe a 40% chance IMO, we see

 

Senor

 

 

well silver overnight actually made a marginal (at 15.60) new low since its 5 up high and has rallied decently off that low, SLV was closed so perhaps that was "enough" for a final corrective low, IMO we are very close to a big move higher beginning, we see

 

Senor

 

Correction to prev post should have been marginal new low at 17.60 and not 15.60.
Love todays action in Silver/SLV. Early rally and they tried to sell it hard, came right back to area of highs of day, I think if Silver can close at/over 18 the daily chart will IMO look like the beginning of a wave 3 higher is getting underway
 
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#776 linrom1

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Posted 24 January 2020 - 11:52 AM

It looks more like another ABC correction?

 


Edited by linrom1, 24 January 2020 - 11:56 AM.


#777 gannman

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Posted 24 January 2020 - 11:57 AM

one stock that is going a lot higher over time is rgld it always does

 

as is the whole sector the cards have been dealt here . gold represents truth , at least for me

 

and the truth will manifest. so i hold onto everything as much higher prices are coming 

 

all fwiw just some thoughts 


feeling mellow with the yellow metal


#778 Russ

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Posted 24 January 2020 - 12:06 PM

one stock that is going a lot higher over time is rgld it always does

 

as is the whole sector the cards have been dealt here . gold represents truth , at least for me

 

and the truth will manifest. so i hold onto everything as much higher prices are coming 

 

all fwiw just some thoughts 

Gold is showing a trend for a high into March but it could extend out into May but for now March is the first objective. 


Edited by Russ, 24 January 2020 - 12:09 PM.

"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
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"Most people lose money because they cannot admit they are wrong"... Martin Armstrong



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#779 dharma

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Posted 24 January 2020 - 12:14 PM

well everyone out there seems to be at the starting gate w/their pistols cocked. i believe it will begin in february . i  am watching w/cautious eye as golden week unfolds next week.   governments around the world are engaged in a printing fest , and the shrimp fest for the power brokers takes place. i see inflation coming forward towards year end. . the feds hey its not qe has dramatically changed their balance sheet.  its so easy to get caught up in all the wiggles.  and lose sight of the big picture. in the last year mobius , dalio, tudor jones, gundlach,and sam zell . all billionaires all from different expertise in different markets. are now touting gold . to me that is saying something. its not just a couple of kook gold bugs . its folks of real substance. 

dharma

this is an election year . is trump going to prod powell into lowering rates?  obviously the effects of 3 rises in rates taught powell a lesson .   dalios "cash is trash" will take on a new meaning 

russ- agree  march/april even out to may. 1800-1900 or bust!  we will see new highs by year end , then a larger correction.

dsi=86


Edited by dharma, 24 January 2020 - 12:23 PM.


#780 ryanoo

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Posted 24 January 2020 - 02:32 PM

It looks more like another ABC correction?

 

 

Is this bullish looking?

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