kwave and senor, in no particular order
i think after the next rally we visit whatever lows we put in here
i watch my cycle work for indications of bottom. so 1913, 1900, 1893 , 1873,1853,1833 1813 the last 4 #s are significant. in ending the decline. now, iin 40+yrs of doing this i have never seen a major correction in the broad market where the gold market did not take a hit. so , that is a concern, but i think that happens after there is no one president after the election.
anyway, i am concerned but not at the edge of my seat. sure my portfolio is taking a hit. i understand the risks. whatever happens here if it becomes very serious will be met w/money printing. on that i have no doubt. i have had several stocks that are up ,even after today 4and 500 % so i take money out for these occasions , i dont like putting it back in. but this is an opportunity. the election is right around the corner. they are going to print , if it gets more serous. so , of course i am concerned.
1954 is the start of the next higher cycle , it tells me , its failure, that more work needs to be done to pursue higher numbers.i dont have downside targets, i watch the #s they will tell me what i need to know. so far 1893 is acting as strong support the hourly chart got oversold . we are consolidating. what happens next will give me more information. i see investors that came into the space where i roam in the market. ie the juniors. big money has taken stakes. by the way sprott bought 70million of first majestic. this is not the same market as previous years. i am not the only one who sees the destruction of the currency. big money sees what is happening. buffet taking a stake in the sector tells me investors see miners make money so it is worth them taking a stake. and even @1700-1800 miners still make very good returns. this is like any other biz. and w/oil hitting the skids miners costs go down. they have yet to make the mistakes of previous bull markets. that phase of greed is coming. but for now they are mean and lean. juniors are cashed up . unlike the time of 13-18 there is money being thrown at the juniors. yes this is another middle of the night bombing run by the banksters, who are the big short in the sector. my guess is they reduce their exposure.
dharma
