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Posted 13 February 2022 - 07:40 PM
Heckuva Thursday/Friday trading sequence. Just held thru it, bout 35% long. Looks good for a gold thrust up to new all-time highs - however keep in mind once done (2250 ish?) we should reverse hard back down to 1700-1800 or lower. That's my bigger picture take. I aways worry about "news related" moves but the charts this weekend look good IMO for a big intermediate term move higher in the miners. Lets see how Monday looks
Senor
i wouldnt mind one more pull back to high 1700 right here
Member
Posted 13 February 2022 - 08:43 PM
Linrom, may I ask, what are your deflationary fundamentals that accompany such a contraction for gold?
I am not sure. But it could be a Depression. You can see this on many EW DJI charts like Prechter's Grand Supercycle count.
Edited by linrom1, 13 February 2022 - 08:43 PM.
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Posted 13 February 2022 - 09:50 PM
Well, yes, bearish for stocks and the economy. But in the 1930's deflation Homestake Mining rose spectacularly.
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Posted 14 February 2022 - 08:41 AM
Well, yes, bearish for stocks and the economy. But in the 1930's deflation Homestake Mining rose spectacularly.
We are not on a gold standard. Gold will be impacted by lack of liquidity just like other assets.
Member
Posted 14 February 2022 - 02:35 PM
Continue to like the chart action, also another session of gen mkt down and mining sector higher, good stuff IMO
Senor
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Posted 14 February 2022 - 03:06 PM
Bullish or bearish on general market?
I'm bearish if SPX ~4300 breaks. Might be imminent
Member
Posted 14 February 2022 - 03:42 PM
Bullish or bearish on general market?
I'm bearish if SPX ~4300 breaks. Might be imminent
Overall bearish gen mkt, not sure "how" it will go down - crash or slow grind? For now hoping to enjoy a strong move to new highs then likely exit assuming the gold contracting tri and thrust higher plays out. so far so good and its been a long friggin wait and struggle!!!
Senor
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Posted 14 February 2022 - 04:16 PM
PPI tomorrow and Ukraine invasion on 2/16. Why gold not at 2000?
Edited by linrom1, 14 February 2022 - 04:17 PM.
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Posted 14 February 2022 - 04:30 PM
PPI tomorrow and Ukraine invasion on 2/16. Why gold not at 2000?
you still short?
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Posted 14 February 2022 - 04:43 PM
PPI tomorrow and Ukraine invasion on 2/16. Why gold not at 2000?
did not know there was a required timeline here. I got daily 1/2's (now in wave 3) off the Jan 28 low in GDX/GDXJ/HUI/XAU and others, anything can happen but to me the charts look bullish. No guarantee new highs will happen, but for now prices look higher IMO - I assume nothing
Senor
