Member
Posted 15 October 2020 - 07:41 AM
GSR looks higher to me and that worries me, took off half of longs
Lots of things to worry about, but GSR still OK (doing a back test of the small reversal pattern that formed at the 23.6% FIB of the entire impulse move down), needs to turn back down again soon
GSR put in a double bottom and looks headed for minimum 95 level. The chart has a bull flag formation that is breaking out.
Member
Posted 15 October 2020 - 08:40 AM
GSR looks higher to me and that worries me, took off half of longs
Lots of things to worry about, but GSR still OK (doing a back test of the small reversal pattern that formed at the 23.6% FIB of the entire impulse move down), needs to turn back down again soon
GSR put in a double bottom and looks headed for minimum 95 level. The chart has a bull flag formation that is breaking out.
Yeah Russ that count is "valid" that we "might" have a wave C up in GSR to that 95 area. I exited rest of longs this mornin for some decent short term gains on the trade. However I am not at this timef avoring that count for the GSR and I am again neutral, I think the next few sessions will help tell us what outcome is more likely - do we have a large C down in gold/miners, or is this just a near term correction and rally soon resumes in gold/miners.
Senor
Member
Posted 15 October 2020 - 09:15 AM
GSR looks higher to me and that worries me, took off half of longs
Lots of things to worry about, but GSR still OK (doing a back test of the small reversal pattern that formed at the 23.6% FIB of the entire impulse move down), needs to turn back down again soon
GSR put in a double bottom and looks headed for minimum 95 level. The chart has a bull flag formation that is breaking out.
Yeah Russ that count is "valid" that we "might" have a wave C up in GSR to that 95 area. I exited rest of longs this mornin for some decent short term gains on the trade. However I am not at this time favoring that count for the GSR and I am again neutral, I think the next few sessions will help tell us what outcome is more likely - do we have a large C down in gold/miners, or is this just a near term correction and rally soon resumes in gold/miners.
Senor
Interesting Senor, if there is a large C down coming then what date did B peak?
Member
Posted 15 October 2020 - 10:00 AM
time segmented volume on gdx looks bullish. let gdx break solidly
above the 50dma and things will be good
Member
Posted 15 October 2020 - 12:47 PM
Just bot back in, I have followed these MACD Oscillators for a good while and they are often not great pinpoint timing tools but usually get the "several week" trend right, take a look:
https://www.investor...sg&mid=21228341
Senor
Member
Posted 15 October 2020 - 02:34 PM
this is a tough business. and if you go back to pre 70s you had to be quite precise as a speculator . the fluctuations in the market were small. it was picking up nickels and dimes
now we have these big swings , and there are many ways to make money
this game is about making money. that is all its about. so, there are zero interest rates and the fed is saying there will be 0 interest rates for years
both political parties see the need to print money for stimulus(i always thought you had to work to acquire money) so there will be at least a trillion more created to bail out failing business and folks who have lost their jobs due to covid.
and then again there is the fed. they are doing qe (qe to infinity! and beyond) . i understand the gold market have been and followed this market for more than 40 years. just these circumstances that i mentioned briefly here any one of them can create a gold bull market .
and we have all of them going full speed ahead. so, i sit my boat is loaded. and wait. the tide will be coming in . we are no longer in the gulag years. of 11-18 . we left kansas . we have entered into a world where other countries have entered before. germany. argentina come to mind. i didnt make these rules but i can play by them. my suggestion is dont put on a position that you are uncomfortable w/ if you do you will make mistakes. so , i wait there will be more stimulus no matter who is elected. and the fed is and has been an engine of inflation. so no surprises. there. we are working off those dsi #s in the 90s last i looked we are in the 20s
dharma
senor so what is your current position?
Edited by dharma, 15 October 2020 - 02:36 PM.
Member
Posted 15 October 2020 - 06:16 PM
Dharma, what hour is it?
Lately that has determined how I am positioned and actually all my recent ins/outs have been profitable, nice to get lucky for a while at least!
Bought back today at GDX 40.26 and KL 50.50, about 25% long and unless I see something glaring near term likely won't go higher.
Senor
Member
Member
Posted 15 October 2020 - 07:00 PM
i saw some one write recently gold loves debt. well no shortage of debt all over the place
the metals may have very well bottomed today we will see the stocks bottomed on the 7th
Member
Posted 16 October 2020 - 10:28 AM
dsi gold =30 silver=31 hgnsi=11.67
senor, yes its a choppy market. i believe that accumulation is taking place in this price area . when done there will be mark up. the shorts have tried to scale back their positions , but the market has not allowed that . the torrid pace of deliveries on the comex has kept them holding their shorts,unable to get out. me i watch . not making any calls as my september calls were duds. sooner or later the prevailing trend will assert itself all the pieces of the puzzle are there , in spades
dharma
this election is quite amazing. what a choice!? ubi is quite scary. in the end everyone is poor. whatever happened to john smith "you dont work, you dont eat! maybe i am just old
Edited by dharma, 16 October 2020 - 10:29 AM.
