1292 replies to this topic

[K Wave]

Bulls double pumped, but as of yet could not hold GLD back over 179.50.

 

Bears may take it away now on a breach of 179.

 

Back above 179.50 for a 3rd time might be first sign bulls not actually going to fold up their tent here...

Edited by K Wave, 22 September 2020 - 09:47 AM.

[dharma]

i read armstrong for a period , just to see what everyone was thinking. and i concluded i make my money by investing , he makes his money by selling to investors.  

https://gracelandupdates.com/wordpress/wp-content/uploads/2020/09/2020sep22dow.png that broadening top megaphone is worriesome no doubt. it portends a 1929 style crash

in the very short term here. i tend to think the lows of august 11 will be taken out.  i think gold will outperform silver on the pullback,

and i am a buyer of whichever gets beaten up the most. and yes , the bull is very young ,  for commodities wave 5s are the big ones. i believe this next up wave will be 5of 3  then a correction to whatever lows we establish here. and then wave 5i read everyone i can but i filter it through me and then come to my own conclusions.  we are in a correction here. which once completed we will go back into the pennant before breaking higher.  there are cross currents right here. dollar rallying? world wide money printing. a plandemic

now mercury goes retrograde on oct 14 -november 5  communication. i expect the election to be in turmoil w/no winner announced for a while.  trump has a much stronger chart than biden. he will beat biden . and then politicians will not care about the country but will rip the country apart. its a time to have essentials in hand. w/covid supply disruptions will be prevalent.  i have built a position in dba.  i barely watch it at this point.  after harvest is when things will get interesting

some time next year diamonds will become a rage. i know jack about deciphering the grades. but i do understand mining  there are 2 on my watch list. casey owns one.  and lassonde had a big interest in the other.   i am slowly accumulating lassondes. it got to over $2 in 11 and is now around .05c there is time , but once the stagflation is seen then diamonds will be a rage

dharma

[dharma]

silver big picture https://pbs.twimg.co...=png&name=large

dharma

senor agree the broad market is worrisome. its not an if its a when

[dougie]

 

i am seeing the same thing senor fwiw most of the damage is done here imo 

 

i think we muck around this week and then start a massive move up  stocks

 

maybe bottom this week and the metals the next 

Note that is one viable possibility not confirmed by enough other stuff that I have any significant confidence. I am probably most concerned by the gen stock markets downside potential the next several weeks/few months and how that may keep significant pressure on miners, which is why for now and UNTIL I see something fairly decisive/clear I have NO interest. Sometimes its best to just leave stuff alone and often that is the most difficult thing to do, just my take

 

Senor

 

Senor

 

yeah my thoughts too. best time to sit an wait.

maybe play the short side a bit if we get a bounce

This could all be an A of a ABC down

[senorBS]

 

 

i am seeing the same thing senor fwiw most of the damage is done here imo 

 

i think we muck around this week and then start a massive move up  stocks

 

maybe bottom this week and the metals the next 

Note that is one viable possibility not confirmed by enough other stuff that I have any significant confidence. I am probably most concerned by the gen stock markets downside potential the next several weeks/few months and how that may keep significant pressure on miners, which is why for now and UNTIL I see something fairly decisive/clear I have NO interest. Sometimes its best to just leave stuff alone and often that is the most difficult thing to do, just my take

 

Senor

 

Senor

 

yeah my thoughts too. best time to sit an wait.

maybe play the short side a bit if we get a bounce

This could all be an A of a ABC down

 

plus we are IMO not really that oversold and daily and weekly RSI are in IMO precarious positions with plenty of downside "room". Just not enough here wave wise or technically to make me want to have a position, just gonna stay "fat and sassy" here with big time gains in da bank for the year. 

 

Senor

[gannman]

well i have an hourly turn on the miners the end of the day thursday or beginning of the day friday

 

so let us see if that ends the selling 

[ryanoo]

gdx gld slv hourlies are trying to come out of the oversold levels with stochs and macd

[dharma]

dsi= 44 as of this am

well what i see, stepping into my gann hat, is that march 23 ,2020  was the low in the stock market and gold right around there or the 25. so , we are 180 degrees from that date and  why not have  a low low low cycle . it very well could be that the broad market bottomed 9/21  and i look for gold to bottom by the end of the week at the latest.  on the solstice and equinox. 180 degrees. apart. that is what i think we are seeing here. i have also been looking for a significant low the end of the 1st quarter 2021 . so we have then if this works out a low low low cycle every 180 degrees. i am looking for a low in gold this week. 

dharma

[senorBS]

AUGUST 11 LOWS are very close by: The HUGE question here this morning, as in pre-market trading GDX and GDXJ are getting close to their Aug 11  lows, is Wave wise whether this leg down might be ending final "C" waves of double zigzag corrections or we are in the centerpoint of a very large wave 3 down? This is what I have been waiting for and expecting recently, don't know yet if I want to do a little buying or wait for a possible key near term reversal. As Dharma pointed out above so far the general mkt is avoiding a plunge and that is surprising me a bit. Huge day ahead IMO

 

Senor

[K Wave]

silver big picture https://pbs.twimg.co...=png&name=large

dharma

senor agree the broad market is worrisome. its not an if its a when

Nice chart...

 

IF this does not turn out to be massive breakout/fakeout, which at this point is hard to envision with the Fed balance sheet action, then once this pullback is over, Silver should far exceed $50 on the next big leg up....

 

Looks like a beautiful long term cup with handle at this point....