1292 replies to this topic

[dougie]

https://pbs.twimg.co...ng&name=900x900  looks like the juniors are ready to appreciate1

dharma

yeah that is why I aksed about when it is time to buy trash...

[senorBS]

From july 30 at SLV 21.40 this looks like the 5th wave of 5 up to another new high - have to at least consider this might be ending pattern of at least that leg. Gold and miners (Silj and SIL as well) are not confirming. Not trying to top pick but commenting on what I see. I did this morning pare back to a core with no aggressive trades

 

Senor

[senorBS]

am curious what the 5 and 10-day DSI numbers are? anyone have them?

 

Senor

[dharma]

From july 30 at SLV 21.40 this looks like the 5th wave of 5 up to another new high - have to at least consider this might be ending pattern of at least that leg. Gold and miners (Silj and SIL as well) are not confirming. Not trying to top pick but commenting on what I see. I did this morning pare back to a core with no aggressive trades

 

Senor

i see that possibility. the market is obviously overbought.  as the government prepares for the next round of printing.  i am looking for

a pullback soon also. but i am not going to cut exposure . i am waiting to add. i have a bit of cash.  i have said too many times what i think is next . you are a quick old guy. i am more deliberate ! ha.  the election is coming up .  

dharma

[gannman]

On gdx I see a pullback to maybe 40 area then a move up to 60 to 65 area fwiw

[dougie]

interesting divergences here.

are too many folks looking for a pullback to get exposiure? or are newcomers needing to be burned?

[dharma]

i am thinking we get a series of small corrections that frustrates people .. these occur into the beginning of september.

there is alot of money looking to get into the sector.   just some musings 

dharma

[dougie]

i am thinking we get a series of small corrections that frustrates people .. these occur into the beginning of september.

there is alot of money looking to get into the sector.   just some musings 

dharma

sounds likley

[gannman]

I look st a lot of charts I enjoy it I see what is happening here from the mar low in gold and silver we have completed waves 1 and 3 we are in wave 4 now then we complete wave 5 maybe late sep early October yo complete the first wave of this bull that is my take fwiw

[K Wave]

Methinks the correction deepness on Silver will surprise some folks. Too much too fast for now.

 

Do not think we will see over 30 on this ramp, and correction may have started overnight, after 5 min 900 was broken and then rejected at the backtest.

First target zone still 26, then 24. Not sure if goes vertical drop straight to 24 or not.

Eventually, at least 22 area and possibly 20 handles will print.

 

If the correction I am looking for on Silver does materialize, should be a fantastic time to get aboard for the longer haul....

 

Back above $29.50 now, and I could be wrong on the big pull back to the breakout level scenario....

Edited by K Wave, 11 August 2020 - 06:43 AM.