2512 replies to this topic

[linrom1]

 

I think the ABCDE is finished. We got the classic leg E extension and climactic volume with oversold RSI.

[Russ]

 

 

 

many MA's (50 and 200) tagged on the post Fed dive, had orders in GDXJ/NEM and others there and they got filled, now about 40% long

 

Senor

GDX/GLD and others real gap fills at impt support, may test session lows or go a bit lower but IMO a bottom is close, as always DYODD

 

Senor

 

Hi Senor, Gold pulled back almost to the 50% level since the March rally, with the 12 day cci oversold (blue line) and my oscillator has some trends for a low in here, could be a typical abc correction on a spando ( one of da_cheif's favourite patterns). So this could be it before the rally into August. Armstrong was also looking for a June low a few month's ago. I notice you never trade with leveraged stuff, not comfortable with the increased risk?

 

And Russ I view this pullback in Gold as a wave 2 correction of the rally from March which IMO was wave 1 of an unfolding larger 5-wave move that will take Gold to new highs above 2100 - maybe well above there, that is the Bull count as I see it and I do think is has good odds of playin out

 

Senor

 

That would be a very nice rally,  should take Nugget above $120 for at least a double from here. I like leverage and with etf's you don't need to worry about drawdowns which can really get the blood pressure up, they did drop nugt from a 3x to a 2x fund.     As I posted before GDX has good trends for a high around Aug 19, so I would be getting cautious by then but always good to stay flexible. From other indications it looked like there could be a strong correction in the main stock indices into Oct. so gold stocks could go down with that, we'll see. R. 

[dougie]

Silj held up surprisingly well today. whacked in the AM? I think we have one more high left here before some weeks of down...

[senorBS]

been buying pre-market with lots of miner stuff down over 3%, have additional orders scaled in lower, looking to take overall long positions to 50% long today, as always DYODD

 

Senor

[linrom1]

been buying pre-market with lots of miner stuff down over 3%, have additional orders scaled in lower, looking to take overall long positions to 50% long today, as always DYODD

 

Senor

I am now 50% in silver. Looking at DBA and NEM.

[senorBS]

I posted many weeks ago about Plat needing to take out 1106 prev low in a "probable" C wave - no problemo as that was easily accomplished today, many things "appear" to be lning up here for a potential ey bottom - unless of course I am full of PURE BS?

 

Senor

[CHAx]

I posted many weeks ago about Plat needing to take out 1106 prev low in a "probable" C wave - no problemo as that was easily accomplished today, many things "appear" to be lning up here for a potential ey bottom - unless of course I am full of PURE BS?

 

Senor

 

I was in agreement, I said the door was open to 1080.  darn, if only I traded as well as I predict 

[senorBS]

adding some NEM into this possible gap fill just above 65, wild day, as always DYODD

 

Senor

[gannman]

right now with this kind of action, it looks like the whole rally was a B wave 

 

and we are now going back down to the march lows. that is my best guess

 

at that point it would be a good buy 

[dougie]

Silj held up surprisingly well today. whacked in the AM? I think we have one more high left here before some weeks of down...

got that one right. tiptooing in