2512 replies to this topic

[senorBS]

added a little more this mornin, now about 37% long, like the "potential" for a good low here, looks like a possible final 4/5 daily subdivision in SLV/silver, as always DYODD

 

also added initial positions in Vale and BHP on opening action FWIW

 

Senor

Edited by senorBS, 24 September 2021 - 09:01 AM.

[senorBS]

Like what I see here both near term and daily, massive oversold with "bullish coils all over", no guarantees but death/taxes and as always DYODD

 

Senor

[Smithy]

I like BHP; back in the early '80s they hired me to create a financial model of opening a new mine extension in Broken Hill (Australia) called the Fitzpatrick Decline. (The whole ore body is shaped like a boomerang, plunging deep at both ends.) Anyway, there was and still is a memorial statue in the downtown of a WW2 soldier with arm stretched back, poised to hurl a grenade. Local legend has it that the day a virgin walks past, he'll throw it.

[dougie]

 

platinum. one word

"Bullish' the word? Looks like 5 up to me off recent 901 low, also the decline from Feb's1337 high could be an ending/ended abc down into that 1901 low - that's my preferred count, we see

 

Senor

 

yep

[CHAx]

We have a valid EW 1-2, 1-2 count off the the 1940~ low on /GC.  COT data shows significant hedgers covering, longs both large specs and retail have thrown in the towel.  Fingers crossed, Im long again.  If we get good Sunday night action in the Asian session, Im ready to get long in a big way.  If not, it is pretty clear shorting is the way going forward.  Good luck and good trading!

Edited by CHAx, 24 September 2021 - 04:25 PM.

[senorBS]

I like reading this:

 

 

 

"

fred hickey

 

@htsfhickey

 

"COT report thru Tues. shows 34% plunge(-24k gold futures contracts)for Managed Money(hedge funds) to just 46.8K. Last time hedge fund contracts this low: March 2021 bottom. See left side of chart. $200+ gain from there in 2 mos. However, 46.8K was BEFORE post-FOMC 3-day slam-down"

 

More "Hickey's"

 

 

 

 

fred hickey

 

@htsfhickey

·

1h

 

Lest I forget. Managed Money net silver futures contracts plummeted 91% in latest COT to just 1.3K contracts. That's also prior to 3-day post FOMC slam (Wed. thru today). So almost certainly MMs are now net short. Last time that happened was in mid-2019. Silver chart below."

 

Good stuff on his Twitter thread

Senor

 

 

 

Edited by senorBS, 24 September 2021 - 06:15 PM.

[Smithy]

There's such a huge jump in the silver hedge fund shorts (51,073)  I'm wondering if the number is a mistake.

The hedge funds generally take the other side of the commercial's position.

 

https://snalaska.us/...t/charts/SI.png

[senorBS]

IMO as oversold as we are I think we either get at least a significant bounce now or immediately head lower in perhaps a final flush and perhaps fill some big miner index/ETF gaps left in April 2020 during the huge rally from the March crash lows.- HUI example is 213-218 area.

 

Senor

[senorBS]

BTW besides the gap I mentioned in prev post in the HUI, .618 retracements of the 2020 rallies have either been reached (HUI 230.88 was .618) or are not that far away and right at the area of the possible gap fills (GDXJ .618 at 37.26) which would be gap fill area as well. Gettin closer and closer methinks

 

Senor

[senorBS]

I am watching the Aussie XGD miner index VERY closely here thinking it has a very good chance to be ending a large wave C decline. The weekly chart shows the current new decline low and that the Aussies have been hammered (look where March 2020 low was) - notice the weekly divergence we "currently" have as well at very oversold levels. Daily and hourly charts IMO suggest this just might be wave v of 5 of C. A sharp turn up from this area (5850) could be very bullish while a drop of another 1000200 pts or so now could indicate we may test the March 2020 low - rather critical juncture here.

 

XGD.AX - ASX All Ordinaries Gold Index Stock Interactive Chart - Barchart.com

 

Senor

Edited by senorBS, 26 September 2021 - 07:54 PM.