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THE PRIMARY WAVE THREE thread and finding the Intermediate wave TWO corrective low


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#2451 dougie

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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

 

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i wouldnt mind one more pull back to high 1700 right here



#2452 linrom1

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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.


#2453 Smithy

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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.



#2454 linrom1

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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.



#2455 senorBS

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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

 

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#2456 Smithy

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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



#2457 senorBS

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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!!!yes.gif

 

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#2458 linrom1

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Posted 14 February 2022 - 04:16 PM

PPI tomorrow and Ukraine invasion on 2/16. Why gold not at 2000?purebs.gif


Edited by linrom1, 14 February 2022 - 04:17 PM.


#2459 dougie

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Posted 14 February 2022 - 04:30 PM

PPI tomorrow and Ukraine invasion on 2/16. Why gold not at 2000?purebs.gif

you still short?



#2460 senorBS

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Posted 14 February 2022 - 04:43 PM

PPI tomorrow and Ukraine invasion on 2/16. Why gold not at 2000?purebs.gif

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