1292 replies to this topic

[senorBS]

have the miners ever doubled this fast?

and look at the QQQ (165 to 260) and TSLA (358 March to 1429 yesterday - Holy F!) rally from March - frickin unbelievable, but also has the Fed ever "printed" this fast and this much? No is the answer but sugar highs can explode and then crash, IMO. I expect a renewed surge in gen mkt volatility, we will see but these are extreme times so buckle up amigos

 

Senor

[dougie]

 

 

exited half of all longs, was about 70% long and now down to 35%, its been a helluva run and may still continue but I will not be a pig as all accts have screamed to new all time highs the past weeks. Also if one looks at GLD todays new highs and this last leg up is "currently" registering a 3rd weekly (and daily) divergence - now if this is a large wave 3 which it probably is then those divergences will get blow out as gold likely rallies to challenge 2000. However just in case that does not happen we could see a very nasty correction. So I hold a decent long position with a ton in da bank. as always DYODD

 

Senor

my same idea

 

exited half of all longs, was about 70% long and now down to 35%, its been a helluva run and may still continue but I will not be a pig as all accts have screamed to new all time highs the past weeks. Also if one looks at GLD todays new highs and this last leg up is "currently" registering a 3rd weekly (and daily) divergence - now if this is a large wave 3 which it probably is then those divergences will get blow out as gold likely rallies to challenge 2000. However just in case that does not happen we could see a very nasty correction. So I hold a decent long position with a ton in da bank. as always DYODD

 

Senor

what would your count be if the bearish scenario unfolds?

 

it would be that a big 5 up in a LOT of stuff is ending here and a large correction would ensue, IMO it "could" coincide with being a major secondary top in S&P and NYSE etc with QQQ's having blown off to new highs, and then wave C's in Dow/S&P/Nyse go below the March lows and drag gold and silver down in large corrections. Just total speculation and conjecture on my part and like I said upside for now deserves the benefit of doubt for now IMO but also NOT a time to be complacent. And I still have a long but much reduced miner long and have will look for signs this may stall out and could exit the rest. Maybe I am just a worry wart but I am gettin older and more cautious

 

Senor

 

THANKS : spot on imo

[ryanoo]

 

have the miners ever doubled this fast?

and look at the QQQ (165 to 260) and TSLA (358 March to 1429 yesterday - Holy F!) rally from March - frickin unbelievable, but also has the Fed ever "printed" this fast and this much? No is the answer but sugar highs can explode and then crash, IMO. I expect a renewed surge in gen mkt volatility, we will see but these are extreme times so buckle up amigos

 

Senor

 

Senor, do you think pm's will move with the gen mkt before it gets to to breakout target or ewave target? this is captainewave's chart.  it looks as though the breakout at ~37 is quite significant and i don't see a ST divergence yet.

http://www.321gold.c...e070120/gdx.png

[ryanoo]

 

Now America deaths count is surging.  This is what happens always.  It did in Europe, it did in Brazil, it did in Russia, it did in India.  This time the rate seems lower, saw a couple reports that the virus strain D614G that is spreading widely now seems more contagious but less lethal than the original strain D614 which was less contagious but more lethal.

Today a lot of the 3 day weekend deaths were reported.

 

So would need to see multiple days above 900 before I would use the word surging.

 

My guess is tomorrow's reporting sees a substantial drop...

 

USA has just about lowest CFR in the world right now among countries still reporting a sizable amount of cases.

Here's a look a the Top 25

https://www.siliconi...632374b45fa.png

 

Kwave it looks like the "surging" may be correct.  it's 2nd day with a high number.

[dougie]

some old congestion here on GDX to be sure

[dharma]

i read this post by peter Schiff: This is the most unloved #gold bull market I've ever seen. Since the end of 2015 the price of gold has risen by over 70%, exceeding the gain in the S&P 500 by about 40%. Despite this performance, and the best fundamentals & chart pattern in history, investors still prefer stocks. PS: literally there is not one technical or fundamental reason to be short gold right now = short squeeeeze!

then i thought uh oh so i looked at charts

i like to start w/the big picture and then work my way to shorter term charts. for gld/gdx the monthly charts are overbought , the weekly charts are overbought, and the daily charts are overbought. the dsi=91 now i am a bull and have been a bull, however i like to be alert and ready mentally prepared for whats in front of me , we are going to get a correction. i cant say tomorrow, next week, august. but i think one is coming. now they are going to have another helicopter drop sometime before the election , and as an aside both parties will back it. that will be what helps to propel the next wave higher. so in review , what i am saying here is i cant say how soon but we are heading towards a correction. so heads up

dharma

i have been on the board long enough to know when senor points something out its time to take notice old guys have experience looking at charts.

[dougie]

some old congestion here on GDX to be sure

note on the monthly we have only 3 waves so far

[gannman]

i was posting on the wrong thread lol i was wondering why so quiet ha ha. any way

 

i am thinking the gdx bottomed on 6 15 at 31.32 and we might hit 39.32 today 

 

for a fib 8 points would not be surprised at a pullback maybe into the astro sign change

 

around july 21  where we enter into leo i think i will sell some stuff today on a rise and watch

 

for a pullback not expecting it to get killed but a pull back yes 

[gannman]

one other thing as we are in what i believe to be a iii of 3 i think on this wave iii

 

we are going back to about 55 on the gdx which is the 2012 high before it started

 

really selling off . and since it was at 55 around sep 24 2012 it would make sense 

 

that 8 years later around late sep we hit 55 again just some thoughts 

[AChartist]

Daily $silver cycles might peak for 10-11 days

Nothing I can do about it practically but prepare for a buy in 10 days or so

would not consider selling because is general the metals are bridging over cycle lows.

It could be making a 5th of a lesser degree.

Edited by AChartist, 09 July 2020 - 05:54 AM.