1426 replies to this topic

[senorBS]

tough day in most miners, some holding up better than others. Looks like "bond issue" with recent rising rates is at hand, had some stops hit early on so about 33% long now. NEM "so far" holding up fairly well, stuff like GDXJ hit harder down now over 5%. This last hr could be ugly, however any sharp mkt decline IMO only brings in more easy money which ultimately will IMO lead to a much lower dollar and perhaps the FED as I have mentioned before may at some point try to "cap" longer term rates, interesting times

 

Senor

at some point in this cycle I think we are going to see the gold/miners decouple from the gen stock market significantly. It could be soon or could yet take a while. And commods are not phased much at all today "so far" with crude oil up today and copper barely off recent rally highs and DBA not down much. 

 

Senor

[Smithy]

Rising rates are a form of tightening.

[dougie]

 

this area better hold!!!

[dougie]

 

LT view this area is alway critical for 13 years!!!

[flyers&divers]

This is not your father's gold market.

Stocks could pull back quite a bit more from here and that would take gold down with it.

I like how silver is buoyant against all this and I am positioning myself with SLV leap spreads with wide strikes.

Willing to add if I can get them cheaper or just go net long silver royalties..

 

We'll have giga moves once commodity markets get going.

 

F&D

Edited by flyers&divers, 26 February 2021 - 01:31 AM.

[senorBS]

Gold makes a new low (1755) below 1760 and getting a daily and  1-12 hr RSI divergences "so far" vs that 1760 low and within this leg down. I like the chances this is 5 of C low vs a large downside extension, however would not be surprised to see another near term low below 1755 as so far the "bounce" does not look impulsive - I do think we could be very close. as always DYODD

 

Senor

[Smithy]

I'd like to see spot 1725 hold...

[linrom1]

Hadik's low achieved, I think he said 1735.

[Smithy]

Low so far spot gold 1724.6; you know where my stops are, lol

[linrom1]

 

There are number of positives in this manipulated market:

 

1) Probably beginning on Monday we could see inflows into miner sector.

2) 38.2% retracement from WAVE 2 - WAVE 3 of 1719 was hit at 1722

3) Historical volume was not that high in compassion to past selloffs

4) 4-week RSI is at historical lows

Edited by linrom1, 26 February 2021 - 10:53 AM.