1292 replies to this topic

[dougie]

shallow retrace of GDXJ would be 47 area...FWIW

[dougie]

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....

so are you thinking shorts here or just wait to adds here?

[JGUITARSLIM]

IMO - typical bull market action w these miners. Expect sharp, quick corrections for few days then resumption primary trend. We will see many more like this over next few years. Personally added some today.

[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....

so are you thinking shorts here or just wait to adds here?

 

For the futures positions, I sold in tranches as the blowoff finished, and then shorted the day SI approached 30, and just covered and re-bought the futures when they tagged the base just above 24. Will buy more if we go a bit lower overnight.

 

This is most likely for a trade only at this point unless there is a massive rally that reclaims some of the shorter term now rolling over 900 MAs.

Generally when you see this bad of a break, it is not a 1 and done...

 

We may go essentially sideways/down for weeks/months now as we correct the initial over exuberance. Should be some good back and forth volatility for a while is my best guess.

Since we got the full meal deal all the way to 24 on the initial breakdown, I am now thinking 22 area as a minimum low during the corrective back and forth, and possibly as low as 20 handle (this part would likely be a shake and bake bottom that broke down from 22 area, and then comes right back up.

 

For the family Cash IRAs, sold 1/2 AGQ at 60 and change and half at 70 and change for about 65 average.

Looking to buy back eventually in 40s or even possibly 30s. Since we were originally in at 20, we would essentially then have a zero cost entry (or less) if we buy back at 45 or below.

Then plan on letting it ride for a long time to come (barring any obvious longer term breakdown).

Edited by K Wave, 11 August 2020 - 05:34 PM.

[K Wave]

Still thinking something along these lines could be in store for next action...

 

Could end up being higher tighter flag...but looking for some flagging action for a while on Silver.

 

IF SLV gets a pull back to the now crossed up 200 day MA, would most likely be a time to back up the truck again.

 

Edited by K Wave, 11 August 2020 - 06:10 PM.

[dharma]

nice work kwave . i agree its not a one and done.  they have to shake the tree a bit .lots of newibies at 1924 entered the market .

dont forget the guys who entered at 2k . 1933 breaks back into the last cycle . so support 1913, 1893  below that . 1954 breaks 

us back into the higher price .i am on the buy executed my plan sold 5 % cash and now waiting to buy. there were some amazing canon shots that are out . i am watching those for a break . most of these that i follow are real stories. so there is substance. but its early in their game. 

anyway, these are amazing markets. not for weak kneed  folks.  few can trade like kwave and there was a lapse but 20 years ago , your technique =exactly the same. tried and true.  some sure experience taught you some things. it did me.   

dharma

[dougie]

 

 

 

 

 

Im in for about 1/4 of my short position 29.63 SI 2081.4GC.

 

Im happy if I get no more position - Im uncomfortable to be honest.  Its possible one massive squeeze left into europe open or US open.

 

 

Added 10% more on the employment data spike.  Thats it for me.  35% short.  Not gonna add anymore.  Be back on the bullside soon enough.  See you then.

 

 

 

 

Much faster than I was expecting....

 

Covered for 150 GC points and over 4 bucks on SI.   Going to take a day off and recalibrate.  See you then.

 

 

 

wow dude you been NAILIN IT

[dougie]

 

 

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....

so are you thinking shorts here or just wait to adds here?

 

For the futures positions, I sold in tranches as the blowoff finished, and then shorted the day SI approached 30, and just covered and re-bought the futures when they tagged the base just above 24. Will buy more if we go a bit lower overnight.

 

This is most likely for a trade only at this point unless there is a massive rally that reclaims some of the shorter term now rolling over 900 MAs.

Generally when you see this bad of a break, it is not a 1 and done...

 

We may go essentially sideways/down for weeks/months now as we correct the initial over exuberance. Should be some good back and forth volatility for a while is my best guess.

Since we got the full meal deal all the way to 24 on the initial breakdown, I am now thinking 22 area as a minimum low during the corrective back and forth, and possibly as low as 20 handle (this part would likely be a shake and bake bottom that broke down from 22 area, and then comes right back up.

 

For the family Cash IRAs, sold 1/2 AGQ at 60 and change and half at 70 and change for about 65 average.

Looking to buy back eventually in 40s or even possibly 30s. Since we were originally in at 20, we would essentially then have a zero cost entry (or less) if we buy back at 45 or below.

Then plan on letting it ride for a long time to come (barring any obvious longer term breakdown).

 

THANK YOU KWAVE.

just thinking how to make money the next few months of waiting and watchin.

[dougie]

 

 

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....

so are you thinking shorts here or just wait to adds here?

 

For the futures positions, I sold in tranches as the blowoff finished, and then shorted the day SI approached 30, and just covered and re-bought the futures when they tagged the base just above 24. Will buy more if we go a bit lower overnight.

 

This is most likely for a trade only at this point unless there is a massive rally that reclaims some of the shorter term now rolling over 900 MAs.

Generally when you see this bad of a break, it is not a 1 and done...

 

We may go essentially sideways/down for weeks/months now as we correct the initial over exuberance. Should be some good back and forth volatility for a while is my best guess.

Since we got the full meal deal all the way to 24 on the initial breakdown, I am now thinking 22 area as a minimum low during the corrective back and forth, and possibly as low as 20 handle (this part would likely be a shake and bake bottom that broke down from 22 area, and then comes right back up.

 

For the family Cash IRAs, sold 1/2 AGQ at 60 and change and half at 70 and change for about 65 average.

Looking to buy back eventually in 40s or even possibly 30s. Since we were originally in at 20, we would essentially then have a zero cost entry (or less) if we buy back at 45 or below.

Then plan on letting it ride for a long time to come (barring any obvious longer term breakdown).

 

13 bucks to 73?

 

Just wild stuff. Fortunes were made

[dougie]

 

 

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....

so are you thinking shorts here or just wait to adds here?

 

For the futures positions, I sold in tranches as the blowoff finished, and then shorted the day SI approached 30, and just covered and re-bought the futures when they tagged the base just above 24. Will buy more if we go a bit lower overnight.

 

This is most likely for a trade only at this point unless there is a massive rally that reclaims some of the shorter term now rolling over 900 MAs.

Generally when you see this bad of a break, it is not a 1 and done...

 

We may go essentially sideways/down for weeks/months now as we correct the initial over exuberance. Should be some good back and forth volatility for a while is my best guess.

Since we got the full meal deal all the way to 24 on the initial breakdown, I am now thinking 22 area as a minimum low during the corrective back and forth, and possibly as low as 20 handle (this part would likely be a shake and bake bottom that broke down from 22 area, and then comes right back up.

 

For the family Cash IRAs, sold 1/2 AGQ at 60 and change and half at 70 and change for about 65 average.

Looking to buy back eventually in 40s or even possibly 30s. Since we were originally in at 20, we would essentially then have a zero cost entry (or less) if we buy back at 45 or below.

Then plan on letting it ride for a long time to come (barring any obvious longer term breakdown).

 

fill the gap at 35 on AGQ...???