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Terminal Wave B for Gold


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#1 linrom1

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Posted 09 April 2020 - 04:28 PM

 

I am showing corrective wave B coming to an end as part of an ABC from March 8. The next leg should be Cycle degree leg down.



#2 senorBS

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Posted 09 April 2020 - 08:31 PM

 

I am showing corrective wave B coming to an end as part of an ABC from March 8. The next leg should be Cycle degree leg down.

to each their own



#3 dougie

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Posted 10 April 2020 - 02:18 AM

 

I am showing corrective wave B coming to an end as part of an ABC from March 8. The next leg should be Cycle degree leg down.

putting your money where your mouth is?



#4 linrom1

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Posted 10 April 2020 - 07:41 AM

 

 

I am showing corrective wave B coming to an end as part of an ABC from March 8. The next leg should be Cycle degree leg down.

putting your money where your mouth is?

 

DGLD and DUST got my attention, just that 5th has to finish up, but it could be only in 1 of 5, so waiting...

 

I do think that that gold will ultimately, intrinsically go up. But it is now just responding to Powell's bazookas, in fact, this last move was an ambush---- they knew it was coming. And look 90% of people can't afford gold at $1700 anyway. It has very "tiny" window of actually being useful for anything.

 

Yesterday I watched a video of a currency guy who traveled to Venezuela. He said,he couldn't get anyone interested in gold, they all wanted DOLLARS and even Bolivars. He also said that you couldn't buy a darn thing in Valenzuela with gold despite raging inflation and financial chaos....totally useless. But central bankers might offer you a fixed price for it sometime in the future, but in the long run, we're all going to be dead too.


Edited by linrom1, 10 April 2020 - 07:44 AM.


#5 linrom1

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Posted 10 April 2020 - 08:54 AM

 

This is yet another bearish count for gold. This is ending diagonal. FINITO



#6 dharma

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Posted 10 April 2020 - 11:59 AM

when i started studying markets and TA i designated a room in the house where i could keep my work however i wanted it. some 

technicians just look at charts. they dont peer into the world , have no knowledge of history. in the last 3 weeks the unemployment rate went to 10%, and most people who call for their filing are not able to get through.  to combat this the fed and government have pledged 2.3 trillion in fresh printed money and this is just the usa. w/other countries making similar pledges  

i am obviously not always right since 01 i have jiggled positions but have remained long. so the buy and hold has brutal swings. but i dont want to miss what i believe will be a spectacular bull market.  

so if you are in your lab , w/no view of the world  then you can view it any way you want to

if you studied history and markets buckle up we are leaving kansas

dharma



#7 senorBS

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Posted 10 April 2020 - 04:13 PM

when i started studying markets and TA i designated a room in the house where i could keep my work however i wanted it. some 

technicians just look at charts. they dont peer into the world , have no knowledge of history. in the last 3 weeks the unemployment rate went to 10%, and most people who call for their filing are not able to get through.  to combat this the fed and government have pledged 2.3 trillion in fresh printed money and this is just the usa. w/other countries making similar pledges  

i am obviously not always right since 01 i have jiggled positions but have remained long. so the buy and hold has brutal swings. but i dont want to miss what i believe will be a spectacular bull market.  

so if you are in your lab , w/no view of the world  then you can view it any way you want to

if you studied history and markets buckle up we are leaving kansas

dharma

fully agree Dharma, one can always come up with a bullish or bearish count, IMO technicals clearly support int term/long term upside, and HUGE upside. I have been following the prec metals since the late 70's and have never seen a FUNDMENTAL situation like this develop in just the past 4-6 weeks, its more bullish to a gold/silver bull then I could have ever fantasized about. Folks can do whatever they please but labeling bear counts here IMO is wasted energy.

 

Senor 



#8 stubaby

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Posted 10 April 2020 - 04:58 PM

 

when i started studying markets and TA i designated a room in the house where i could keep my work however i wanted it. some 

technicians just look at charts. they dont peer into the world , have no knowledge of history. in the last 3 weeks the unemployment rate went to 10%, and most people who call for their filing are not able to get through.  to combat this the fed and government have pledged 2.3 trillion in fresh printed money and this is just the usa. w/other countries making similar pledges  

i am obviously not always right since 01 i have jiggled positions but have remained long. so the buy and hold has brutal swings. but i dont want to miss what i believe will be a spectacular bull market.  

so if you are in your lab , w/no view of the world  then you can view it any way you want to

if you studied history and markets buckle up we are leaving kansas

dharma

fully agree Dharma, one can always come up with a bullish or bearish count, IMO technicals clearly support int term/long term upside, and HUGE upside. I have been following the prec metals since the late 70's and have never seen a FUNDMENTAL situation like this develop in just the past 4-6 weeks, its more bullish to a gold/silver bull then I could have ever fantasized about. Folks can do whatever they please but labeling bear counts here IMO is wasted energy.

 

Senor 

 

I agree, as well, with both Senor and dharma - we have all been waiting and watching for this set-up, and like "watching paint dry" - you can be lulled into believing that nothing is happening.  The fundamentals - including all the important Gold verses ratios like CRB, USB, WTIC, SPX, etc are all aligned and then you add the positions of $HUI verses Gold and Gold versus Silver plus the loss of confidence developing in the Central Banks and you have a recipe for an explosive Bull move that is sustainable as so many extremes have to be unwound. 

 

Now the COT's are beginning to finally align themselves:  http://www.cotpricec...itmentscurrent/  and with yesterday's breakout in some of the large-cap leaders (NEM, GOLD, WMP, FNV) along with others - the institutional accumulation time-period is beginning, as the early-movers are already positioned and now the "mainstream" money begins it's move into the sector.  

 

An interesting side (to me at least) is with mines now shut-in due to Covid-19 - many majors are/will trade with some different metrics and more emphasis on "Gold in the ground", which will make the Juniors begin their up-moves much more quickly as valuation metrics converge to some extent.

 

My last thought (which Senor has been saying in so many words for a while now) - "Don't shoot yourself in the foot!"

 

stu



#9 dharma

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Posted 11 April 2020 - 05:57 PM

i believe that was me, its a prevalent expression in these parts

i just felt compelled to respond to this thread

i will be posting on the other thread

buckle up

i can say when but the die have been cast

dharma

thanks senor and stu baby for adding perspective. 



#10 gismeu

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Posted 17 April 2020 - 02:19 PM

FWIW,

Daily cycle is pointing down, weekly as well.
Monthly is neutral
Quarterly is up, and yearly cycle is making a top next year, so until we close on a weekly basis above 1790,
I would be cautious.

gis
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