Member
Posted 30 August 2021 - 04:24 PM
some fairly tight stops hit, now down to about 20% long, IF this is a wave 2 of 3 near term it needs to and rally hard, if not an abc rally could have ended this morning and that ain't good if correct, we see
Senor
good trading.
not out of woods just yet
a lower low would BE A BUY IMO
Member
Posted 30 August 2021 - 04:42 PM
it looks to me that we could see an important top in the market by say sep 15.
i know good luck with that one but it is a definite maybe ha ha
Member
Posted 30 August 2021 - 10:48 PM
some fairly tight stops hit, now down to about 20% long, IF this is a wave 2 of 3 near term it needs to and rally hard, if not an abc rally could have ended this morning and that ain't good if correct, we see
Senor
good trading.
not out of woods just yet
a lower low would BE A BUY IMO
so far IMO clear abc rallies in most stuff to today's early highs, I remain a TRADER here, went home 20% long but am nervous with that abc rally so far, no assumptions here
Senor
Member
Posted 30 August 2021 - 10:49 PM
it looks to me that we could see an important top in the market by say sep 15.
i know good luck with that one but it is a definite maybe ha ha
NOTHING would surprise me here
Senor
Member
Posted 31 August 2021 - 06:29 AM
ok guys and gals..i don't know what will happen to gold if the SPX tanks..say 5%..but looking over my Barrons notes for a year
i cam across 2 things for PM followers to ponder...SPX advanced 2200 to 3450 then set back to 3200..if similar move then 4500 target..
we are there...may be atop in this area to 75 points higher...the more disturbing item was about March 2021 margin debt had exploded
and was only the 7th time since 1950..at first SPX was +1.7% higher ..one year later down -2.3% ..2 years later down -7.4%..
definitely look for a bear mkt SPX in 2022..
donc
Member
Posted 31 August 2021 - 02:13 PM
solid session, recent short term declines held where they needed to and decent up day so far, looks higher near term and I feel comfortable with a 20% long position
Senor
Member
Posted 01 September 2021 - 12:45 AM
Dust is looking like it's going to roll over after an ABC and eventually break its bear flag down, meaning gold will keep going up.
Edited by Russ, 01 September 2021 - 12:46 AM.
Member
Posted 01 September 2021 - 09:34 AM
Dust is looking like it's going to roll over after an ABC and eventually break its bear flag down, meaning gold will keep going up.
Good point on DUST. It's definitely ABC up.
Member
Posted 01 September 2021 - 03:20 PM
Dust is looking like it's going to roll over after an ABC and eventually break its bear flag down, meaning gold will keep going up.
I will give the upside a slight benefit of doubt for now but for me its not worth more than a 20% long position with a quick trigger finger - simple nothing clear here either way IMO and I am again gettin a "spidey sense" that a possible near term gen mkt top "at least" is forming, we see
Senor
Member
Posted 01 September 2021 - 07:53 PM
Dust is looking like it's going to roll over after an ABC and eventually break its bear flag down, meaning gold will keep going up.
I will give the upside a slight benefit of doubt for now but for me its not worth more than a 20% long position with a quick trigger finger - simple nothing clear here either way IMO and I am again gettin a "spidey sense" that a possible near term gen mkt top "at least" is forming, we see
Senor
yep
camt rule out a more durable low
