1426 replies to this topic

[tradesurfer]

I suggest to look at date of August 8, 2008 as the comparison in time.   That was deflation scare and that was when gold broke support.  It got quite volatile from that point forward but it took 50 trading days for the low.

 

And 50 trading days would put us near May 8th 2021 which Armstrong has been touting as a key key turning point in many different markets.

Edited by tradesurfer, 27 February 2021 - 09:33 PM.

[JGUITARSLIM]

Buying some GDX ! 
 
Will add on weakness.

Looking for a several day (week maybe) bounce buy given the extent of the decline into Friday. I think after a decent bounce we could come down hard again for perhaps a final low, but this could take a while, just a best guess for now. Very oversold, from here we either crash for a few days and maybe put in a selling climax low or do the more usual and bounce and then set the stage for a bottom with perhaps another scary leg down. My bet is on the bounce scenario, we see
 
Senor

Given recent action Im anticipating further weakness this coming week. My Preference would be capitulatory sell off but market doesnt need to comply. Got 25% position on Friday - will add on further weakness .

Dont think can go wrong scaling in at these levels...kinda feel like value investor here

[linrom1]

The sentiment on gold is very bearish. I see majority of gold commentators(mostly retail types) pointing to lower lows for the first time. It appears that most favor scenarios where gold goes into low 1600s.

[dharma]

gold dsi=14, sentiment wise we are close or there

silver dsi=66 coming down from mid 80s

 

full moons https://www.mcoscill...and_full_moons/

i dont think the lows are far off then again i thought 1850 was the low.  

 

senor bs, good luck w/novo. either hennigh(former head geologist @newmont )and moriarity are all wet or there is really something of great substance here.  it is my 2nd largest position.  i have followed the story for years. it is truly amazing. we will see if it is financially profitable. now w/them producing, they will not need any cash infusions. so no dilution. the way it all came together w/millenium going broke from poor management and novo getting the mill and all the permitting is quite a unique situation in this industry what would have taken years. they put in place in months and have produced their 1st bars. i will keep you posted privately since you are the only one who responded. 

dharma

Edited by dharma, 28 February 2021 - 11:40 AM.

[senorBS]

gold dsi=14, sentiment wise we are close or there

silver dsi=66 coming down from mid 80s

 

full moons https://www.mcoscill...and_full_moons/

i dont think the lows are far off then again i thought 1850 was the low.  

 

senor bs, good luck w/novo. either hennigh(former head geologist @newmont )and moriarity are all wet or there is really something of great substance here.  it is my 2nd largest position.  i have followed the story for years. it is truly amazing. we will see if it is financially profitable. now w/them producing, they will not need any cash infusions. so no dilution. the way it all came together w/millenium going broke from poor management and novo getting the mill and all the permitting is quite a unique situation in this industry what would have taken years. they put in place in months and have produced their 1st bars. i will keep you posted privately since you are the only one who responded. 

dharma

Bottom line for me is that in this wild and uncertain economic/monetary environment if I can buy a quality blue chip miner like NEM at current prices and also get a 4.05% yield (as of Fridays close) I will take that for one of my CORE positions. A stock like NOVO and other smaller ones I will trade a small position size as I view them as speculative issues. Nice to see that gold DSI down to 14 - do you know what the 5-day MA is? 

 

Senor

[senorBS]

in very early Sunday afternoon trading gold up near 1739, that's about $21 above Friday's 1718 intraday low, lets see if the bounce can sustain and extend overnight

 

Senor

[dougie]

we have a few more weeks of work to the downside here IMO not withstanding some bounces along the way

[gannman]

i agree dougie i think at least 3

[gannman]

one possible scenario here is we drop to 25 -26 area on gdx to complete iii of c

 

then rally in a iv of c then come back down in a v of c to retest that 25 to 26 area

 

that would complete this wave 2 correction and then we would rally in a massive 

 

wave 3 . just my guess fwiw 

[gannman]

gdx should fall to about 26.5 fwiw on this leg down