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The REAL wave 3, possible V bottom thread


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#1 senorBS

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Posted 02 March 2020 - 10:28 PM

Other thread has run its course, conditions IMO ripe for a massive up move after last week's "crash" in the miners and most things "equity related" . Continue to like that GDXJ count of 5 up from 2018 lows near 26 to recent highs above 46 and a lightening 50% plus retrace already to last weeks low near 35, add to that a final GSR spike to 96.50 and let us see what March brings....

 

Senor



#2 dougie

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Posted 03 March 2020 - 01:57 AM

nothing to say that wave 2 cant go a lot lower though Senor



#3 senorBS

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Posted 03 March 2020 - 07:30 AM

nothing to say that wave 2 cant go a lot lower though Senor

of course there isn't, however I think we saw "enough" late last week at least IMO to suggest the odds are pretty decent that wave 2 washout/crash low might have been registered, time will tell

 

Senor



#4 Smithy

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Posted 03 March 2020 - 08:39 AM

Senor, I hope you are right! But I find when looking at the gold chart that I would expect gold to drop to its 4th wave of lesser degree, around $1450. When the GDXJ and gold counts conflict, my own philosophy has tended to choose the gold count. Doesn't mean it will prevail.

 

Silver looks like a big ABC from the November '18 low, a case of watch and wait.

 

I'm bullish on the S&P500.



#5 Smithy

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Posted 03 March 2020 - 08:52 AM

IF the 21 month cycle is headed towards a high and not a low at the end of June/early July, that favors the bullish scenario.



#6 senorBS

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Posted 03 March 2020 - 08:54 AM

Senor, I hope you are right! But I find when looking at the gold chart that I would expect gold to drop to its 4th wave of lesser degree, around $1450. When the GDXJ and gold counts conflict, my own philosophy has tended to choose the gold count. Doesn't mean it will prevail.

 

Silver looks like a big ABC from the November '18 low, a case of watch and wait.

 

I'm bullish on the S&P500.

Silver could just as easily be a 1-2-3 from 2018 and this is a wave 4 or even 1/2 and i/ii - given the new all-time GSR high the past few days that makes me favor a large correction from the Sep 2019 high is ending or has ended, Does anyone "really think" given the current fundamental backdrop that silver is going back down to the 2018 lows? Yes anything is "possible", I will go with what I think is most likely and of course reserve the right to be dead wrong!purebs.gif

 

Senor



#7 senorBS

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Posted 03 March 2020 - 10:07 AM

Looks like the Fed likes my V bottom scenario, lets see if they tro to "sell it" sometime today, really liking the miner chartsyes.gif

 

Senor



#8 dharma

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Posted 03 March 2020 - 10:31 AM

what a surprise fed cuts .5%   your view is definitely a possibility no doubt the spike in the repo market today was met w/fresh cash

boj stands ready

ecb stands ready

gold loves this action . when do the big funds head this way?? it seems obvious to me the outcome  print and print and print

smithy  that is what hadik is looking for  1450 4th of lesser degree.  would have to be bold manipulation to get there

i am a long term bull havent done a thing. i had one junior acquire a stake in another yesterday the stock raced. . another merged w/another junior and was up 60+% i bought it cause i read sprott was sniffing around  balmf @.12  sprott bought so did i.  thanks eric for the large footprint

as for the V its a real possibility  today all the miners closed the gap i want to see gdxj close into the body of the gap

my turns the 6-9  are the key to me . will be an acceleration or a top .  my guess is the banksters covered huge amount of shorts on friday. . patience is the key and not doing something stupid. bulls take as few riders as possible   the wave 3 board was a perfect example.  i am prepared to ride and stick w/this into the parabolic  i will be patient . suffering through 12 -18 gave me strength i expect to have monster gains. its a small sector when they come this way the door is not wide enough. i am prepared for corrections. 

dharma 

opec meets today . w/crude prices so low miners are raking it in.  this will not be lost on fund managers. the majors need to buy they are not doing much exploration stay tuned . i have some juniors that can be had !


Edited by dharma, 03 March 2020 - 10:34 AM.


#9 senorBS

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Posted 03 March 2020 - 12:38 PM

Gotta love Trumpy if you are a gold bull:

 

"

President Trump on Tuesday criticized the Federal Reserve’s decision to cut

interest rates a half percentage point as insufficient, demanding “more easing and cutting” in a tweet.

“The Federal Reserve is cutting but must further ease and, most importantly, come into line with other countries/competitors,” Trump tweeted. “We are not playing on a level field. Not fair to USA. It is finally time for the Federal Reserve to LEAD. More easing and cutting!”

kUuht00m_normal.jpg
 

The Federal Reserve is cutting but must further ease and, most importantly, come into line with other countries/competitors. We are not playing on a level field.

Not fair to USA. It is finally time for the Federal Reserve to LEAD. More easing and cutting!

LOL  Senor



#10 senorBS

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Posted 04 March 2020 - 03:06 PM

another intraday decline attempt, not as much as yesterday, and  met with buying. Looks to me like fairly high level consolidation action readying for new rally highs since the recent plunge lows.

 

Senor