1292 replies to this topic

[ryanoo]

[senorBS]

 

 

 

 

i dont know if anyone is connecting the dots.  the communist takeover of hong kong is huge. its going to have huge 

repercussions, hong kong real estate is some of the most expensive in the world . business is going to be brought to a standstill 

hsbc has a big face in hong kong.  real estate values  are going to plummet . the Brits are thinking of ways to expedite hong kong 

residents citizenship. another slap at the dying eu. gold buying is going to escalate. the mao revolution killed 30-40 million , then the cultural revolution killed another 10 million . the leaders of the revolution in hong kong have disbanded and fled. gold buying as a result of banks running into trouble as a result of hong kong takeover is going to take center 

stage. hong kong has been a center for trade for decades and centuries.  

i titled this thread 3of 3 i am serious . we are there now.  as i said yesterday gdxj was 100 points higher in 11 when gold was at these levels . miners are still blood in the streets.  hello

dharma

ps saw trump on cnbs this morning . yes there will be periods where the economy comes back but the lows will be lower.  a top in the broad market in 21

was looking at the GDXJ longer term charts, a breakout above 50-53 to me suggests fairly clear selling to next major resistance at 95-100, 55-90 looks like what I call a "speed zone" area and wave wise it would be 3 of 3 and IMO that makes sense since the March to May rally was likely wave 1 of bigger 3 (30.5 pts or so), take 1,618 X wave 1 and that equals close to 50 GDXJ points, add that to the mid June wave 2 bottom (near 42) and that gets you to that same 90-95 area. Lots of things IMO coming together nicely. 

 

Senor

 

Silver as I mentioned to Dharma looks headed for a low in early August, so gold and all the miners should be pulled down too. Notice on the silver chart each rally since last year has been lower (green horizontal line) and it never even got to the 2016 high area (turquoise line). 

 

all I can say is I have nice 5-wave daily rallies in GDX/XAU/HUI from mid June to the most recent highs and that was not to new highs for the yr so IMO that is most likely wave 1 of a much larger move higher, I can see at most a 38% retracement of that rally from June 15 but after that I think we go a LOT higher, my dos centavos

 

Senor

 

works out ot 47 25 area on GDXJ

 

I have a feeling, given this mornings strong early upside action, the wave 2 correction after that initial 5 up from June 15 may have ended last week. It seems "easy" to doubt this move (which I like) but the chart patterns IMO from near to longer term all look bullish to me, in fact weekly upside accelerations have a very decent chance to be underway. Of course if we saw a significant downside reversal today with a weak close I may change my tune a bit, but the trends are up and I currently favor the upside by a lot.

 

Senor

[ryanoo]

 

 

 

 

 

i dont know if anyone is connecting the dots.  the communist takeover of hong kong is huge. its going to have huge 

repercussions, hong kong real estate is some of the most expensive in the world . business is going to be brought to a standstill 

hsbc has a big face in hong kong.  real estate values  are going to plummet . the Brits are thinking of ways to expedite hong kong 

residents citizenship. another slap at the dying eu. gold buying is going to escalate. the mao revolution killed 30-40 million , then the cultural revolution killed another 10 million . the leaders of the revolution in hong kong have disbanded and fled. gold buying as a result of banks running into trouble as a result of hong kong takeover is going to take center 

stage. hong kong has been a center for trade for decades and centuries.  

i titled this thread 3of 3 i am serious . we are there now.  as i said yesterday gdxj was 100 points higher in 11 when gold was at these levels . miners are still blood in the streets.  hello

dharma

ps saw trump on cnbs this morning . yes there will be periods where the economy comes back but the lows will be lower.  a top in the broad market in 21

was looking at the GDXJ longer term charts, a breakout above 50-53 to me suggests fairly clear selling to next major resistance at 95-100, 55-90 looks like what I call a "speed zone" area and wave wise it would be 3 of 3 and IMO that makes sense since the March to May rally was likely wave 1 of bigger 3 (30.5 pts or so), take 1,618 X wave 1 and that equals close to 50 GDXJ points, add that to the mid June wave 2 bottom (near 42) and that gets you to that same 90-95 area. Lots of things IMO coming together nicely. 

 

Senor

 

Silver as I mentioned to Dharma looks headed for a low in early August, so gold and all the miners should be pulled down too. Notice on the silver chart each rally since last year has been lower (green horizontal line) and it never even got to the 2016 high area (turquoise line). 

 

all I can say is I have nice 5-wave daily rallies in GDX/XAU/HUI from mid June to the most recent highs and that was not to new highs for the yr so IMO that is most likely wave 1 of a much larger move higher, I can see at most a 38% retracement of that rally from June 15 but after that I think we go a LOT higher, my dos centavos

 

Senor

 

works out ot 47 25 area on GDXJ

 

I have a feeling, given this mornings strong early upside action, the wave 2 correction after that initial 5 up from June 15 may have ended last week. It seems "easy" to doubt this move (which I like) but the chart patterns IMO from near to longer term all look bullish to me, in fact weekly upside accelerations have a very decent chance to be underway. Of course if we saw a significant downside reversal today with a weak close I may change my tune a bit, but the trends are up and I currently favor the upside by a lot.

 

Senor

 

also the gold/silver ratio will make trend changing impulsive action today 

[K Wave]

 

 

The fact that SI has held up this long, along with the power reversal candle off the backtest of $18, leads me to believe that this configuration has a real shot at being pre-explosionary....

 

Like I said....

 

SI just needs to clear $19 now, and price should accelerate rapidly upwards.

 

Stop moved up to 18.30 now..do not think it will get hit....

Edited by K Wave, 06 July 2020 - 08:40 AM.

[K Wave]

4 hour SLV starting off promising....

 

Just need a couple of decent sized up bars on this launch attempt, and bears will be dead...

 

[K Wave]

PL 2 hour 900 now starting to kink upwards solidly with today's action.

 

Just need to clear the 4 hour, 12 hour, and daily 900s just overhead to really get a party started....

 

[K Wave]

Now we see if they can turn SLV $17  into support...

[dharma]

i am as bullish as anyone, anyone can throw words around. i am all in and that is the bottom line.   the one thing i watch

is my gann cycle work . @present 1773 ends this price cycle , we have banged up against it several times. the next price cycle 

begins @1793 i want to see a couple of closes above that level. it would indicate to me that price is ready to pursue higher levels

until that happens its all sound and fury.  the reason i am in the miners is because based on historical levels of valuation. the miners 

are way under valued . eg, if you just look @gdxj it is 100 points lower today than it was when gold hit these levels in 10or 11. 

the reason you want  to own low grade mines w/ proven reserves in the ground is leverage. i do believe even in sideways action, 

the miners will have price appreciation.  the next wave up will be the big one , i believe it begins in the fall. this wave still has potential

but we need to express it and have several closes above 1793 .  there are alot of fundamental reasons why gold has stalled out here
dharma

[ryanoo]

walking off overbought condition now ... and as soon as the broader market takes a breather pm will will take off ... jmho

[JGUITARSLIM]

FYI...Gold Miners Bullish Percent Index at 100%

 

Last time occurred in July '16 saw GDX pull back then rallied to new highs forming divergences (i.e. RSI,  MACD, BPGDM)