Sid Norris Ewaves on silver
golds next leg higher
Posted 25 March 2020 - 06:22 PM
From late Oct bottom in 2008 GDX (and others) more that doubled by mid Dec 2008, heck GDX bottomed near 16 recently and a double gets it to 32.50 area and we are now above 26. Ultimately from the Oct 2008 lows we had a very large rally phase into the 2011 highs and most miner stuff had at least quadruples from Oct 2008 lows. Given what we are seeing from the Fed/stimulus stuff etc, things IMO have a decent chance to happen faster and have higher percentage moves, we see
In 2008 miners bottomed four months before the general indices did. Also, miners fell like a rock, even in comparison to SPX. I think we got both this time around again.
Edited by ryanoo, 25 March 2020 - 06:23 PM.
Posted 25 March 2020 - 09:20 PM
thanks jabat i appreciated that video on silver. i believe he is right
Posted 26 March 2020 - 09:40 AM
the hui is at heavy overhead resistance. if it can break thru solidly and make it up to 225 area
and hold it we are good . i believe we will it just has to do it
Posted 26 March 2020 - 11:18 AM
this might have been the biggest fastest shakeout in history in the gold market . the whipsaws are breathtaking. i am giving this room
the next events i see and todays record jobless claims did little to slow the markets assault which i am labeling c of 4 w/5 down to come
i believe one of these will be a catalyst
venus goes into taurus on the 29th of march venus represents finances and its its own sign so its strong earthy
and jupiter joining mars and saturn on the 31st of march .
i am waiting for the other shoe to drop to see what gets thrown out w/ the bathwater
Posted 26 March 2020 - 11:51 AM
Miners look like they hit their head at the old floor after this AM action...
Let's see how the sideways to down action ahead plays out, and then maybe, just maybe, it might be time for things to start to sync up bullishly.
For now though, just looks like massive snap back rally to resistance...
Posted 26 March 2020 - 12:19 PM
i have just been day trading . for right now it is fine scalp a little here and there
a great opportunity will present itself eventually
Posted 27 March 2020 - 12:20 PM
i am waiting to see if the lows in silver hold . at present it has an island bottom. i do see the possibility of a new low in the broad market so that is my concern. over 9k deaths in italy. this situation is alot worse then at first it was made out to be. i went shopping yesterday, no one was out . no one was in the stores. it was eerie. some shelves were restocked. but lots of stuff could not be had.
Posted 27 March 2020 - 01:25 PM
huge reversal week in the dollar index, spike high last week at 102.99,high early this week at 102.05 and now almost bottom tick at 98.55. Looks a lot lower to me
Posted 27 March 2020 - 02:54 PM
Yeah, I have made good money in AUDUSD. Has paralleled gold for the last month.