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what the hell, out on a limb. the 1850ish low marks the bottom of this correction. the next leg higher begins now


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#721 senorBS

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Posted 11 January 2021 - 02:04 PM

 

just want to say: this thread when from very bullish to very bearish based on one day of trading

 

i guess flexibility is the hallmark of really good traders?

 

Glad to see the flexibility in others and myself. It's always possible we could get a bullish surprise here but the rally failure last week and "how" this decline has unfolded since is and IMO should cause a LOT of concern. These are also unprecedented times economically and politically and we have a pandemic raging. And we have seen big time bubble action in many areas, gotta look all directions and if/when things turn it could be drastic. A muy careful Senor feeling VERY relaxed with his pile of peso dollars. purebs.gif

 

Senor



#722 linrom1

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Posted 11 January 2021 - 02:40 PM

 

 

just want to say: this thread when from very bullish to very bearish based on one day of trading

 

i guess flexibility is the hallmark of really good traders?

 

Glad to see the flexibility in others and myself. It's always possible we could get a bullish surprise here but the rally failure last week and "how" this decline has unfolded since is and IMO should cause a LOT of concern. These are also unprecedented times economically and politically and we have a pandemic raging. And we have seen big time bubble action in many areas, gotta look all directions and if/when things turn it could be drastic. A muy careful Senor feeling VERY relaxed with his pile of peso dollars. purebs.gif

 

Senor

 

OpEX on Friday and Monday is a holiday. I wonder if this portends anything?



#723 dougie

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Posted 11 January 2021 - 05:07 PM

 

 

just want to say: this thread when from very bullish to very bearish based on one day of trading

 

i guess flexibility is the hallmark of really good traders?

 

Glad to see the flexibility in others and myself. It's always possible we could get a bullish surprise here but the rally failure last week and "how" this decline has unfolded since is and IMO should cause a LOT of concern. These are also unprecedented times economically and politically and we have a pandemic raging. And we have seen big time bubble action in many areas, gotta look all directions and if/when things turn it could be drastic. A muy careful Senor feeling VERY relaxed with his pile of peso dollars. purebs.gif

 

Senor

 

your trading acument amazes me



#724 dougie

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Posted 11 January 2021 - 08:33 PM

how to count the move from march to August in GDX as 5 waves without torutring it?



#725 dougie

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Posted 11 January 2021 - 08:37 PM

lookng back, mostly when we move away from the 50 week MA we need to revert back to it. is that all this is?

 



#726 dougie

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Posted 11 January 2021 - 08:49 PM

moreover, since 2000 there has not been one example where HUI weekly RSI was this deeply oversold and then failed to rise to overbought.

 

will this be the first?



#727 tradesurfer

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Posted 11 January 2021 - 09:02 PM

It is a good point. One day of price action does not guarantee anything. But taken in context of other markets / indices gives more confidence

I forgot to mention the 72 week cycle which just recently lined up in the sp500 last week.

There was another 72 week cycle that completed right at the February 20, 2020 top. That lead to a 30% broad market crash in just 1 months time

I don't know if the cycle will 'stick' this time but if it does for stocks then it seems it should also affect miners/metals



just want to say: this thread when from very bullish to very bearish based on one day of trading
 
i guess flexibility is the hallmark of really good traders?



#728 AChartist

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Posted 11 January 2021 - 10:04 PM

Hi

A dominant silver cycle is up for 7 weeks, there are some other weaker or mixed cycles

but a good chance this dominant will drive.

 

The best one will be from 14 week low to 30 weeks out.

End of April low to end of Aug high could be the granddaddy.


"marxism-lennonism-communism always fails and never worked, because I know

some of them, and they don't work"  M.Jordan


#729 tradesurfer

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Posted 11 January 2021 - 11:47 PM

Ohhh... so THIS is what is going to get the party started....

 

https://news.yahoo.c...l-sh&soc_trk=ma

 

I think the planet saturn represents deflation



#730 senorBS

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Posted 12 January 2021 - 11:29 AM

moreover, since 2000 there has not been one example where HUI weekly RSI was this deeply oversold and then failed to rise to overbought.

 

will this be the first?

Dougie I don't understand this? 14 bar weekly RSI is currently near 44 (not really oversold), at Nov low it was near 29, in March it was near 22. - how do you square that with what you wrote above? To me it currently looks vulnerable to further decline and is "most likely" in a decline to further oversold. Am I misunderstanding something?