2512 replies to this topic

[senorBS]

 

thinking we see 1750 area then up

BINGO

 

Bueno! Gotta decent chance to bottom in this area IMO, got some pretty decent buys off today, went home about 33% long, as always DYODD

 

Senor

Edited by senorBS, 16 September 2021 - 03:33 PM.

[Smithy]

Spot silver retraced 78.6% and bounced

[dougie]

no certainty that this was the low. Kwave makes some good arguments. we could go lower , a lot lower. but this WAS a good spot timewise and otherwise

[Russ]

I don't think gold is finished going down,  I have indications for Oct to be the low probably, it could even go down into Nov. but I think 1st to second week of Oct is the most likely and I noticed MA says his cycles are showing volatility into the week of Oct. 11 which could be related to the freeze on rent payments coming to an end Sept. 30 he says. 

[senorBS]

no certainty that this was the low. Kwave makes some good arguments. we could go lower , a lot lower. but this WAS a good spot timewise and otherwise

we always "could" go lower or higher - key is odds and risk/reward for me. "so far" we have even more daily bullish technical divergences into this current decline to new lows for the year in stuff like GDX/HUI/XAU, yet others like SILJ and GDXJ have not yet made new lows begging the Q whether we might have a ragged bottom where some stuff makes new low and others don't. Note that GDXJ fill a gap left from the August bottom to the PENNY - interesting at least. I think gold/silver "might" need another 4/5 subdivision basis hourly charts, but I think "if" that happens it should be a "modest" new low. I gotta believe yesterday simply blew most of the remaining bulls (not many) out of the water - perhaps the washout event needed? We see, I remain a TRADER here, I like the potential risk/reward from the long side here and as always DYODD

 

Senor

Edited by senorBS, 17 September 2021 - 07:58 AM.

[linrom1]

 

Sentiment Dives

As the week ends, the Hanke-Cofnas Gold Sentiment Score is sharply negative at -7.57. We detect that key drivers impacting this sentiment is an increase in references to Tapering and a decrease in mentions of Inflation. Our Bearish bag of words is gaining more attention.

This Index goes from -10 to +10. This is pretty much extreme reading.

[senorBS]

added some more into this decline, now about 38% long, mostly in KL and a few others, as always DYODD

 

 

Forget to add that GSR made a new high for this move this morning and could very well be a very large ABC corrective rally pattern ending from, this last push might" be wave 5 of C - we see

 

 

Senor

Edited by senorBS, 17 September 2021 - 08:53 AM.

[gannman]

i think we are now caught in a general market sell off fwiw

[senorBS]

added some more into this decline, now about 38% long, mostly in KL and a few others, as always DYODD

 

 

Forget to add that GSR made a new high for this move this morning and could very well be a very large ABC corrective rally pattern ending from, this last push might" be wave 5 of C - we see

 

 

Senor

Lets see if this is just another short term bounce on the path lower or if we "might" have made at least a decent near term low - very oversold with divergences here (guarantees nothing). I got the 4/5 wave I was looking for in silver and gold, we'll have to wait and see how it goes from here, as always DYODD

 

Senor

[senorBS]

so another new low in SLV today and SILJ again holds above this years low. I do like the "possible" case that both SILJ and GDXJ have 5-waves up daily from the August lows and these recent declines are gap-filling abc corrections and may have now bottomed. Gonna be a critical Monday as it appears no miner plunge today though prices are lower pretty much across the board

 

Senor