2512 replies to this topic

[dougie]

$CRB is as overbought as it gets (almost)

What will cause the correction it needs here?

[senorBS]

Hmm, gold spikes to a 1927 high at opening Sunday, now at 1907, gonna be a wild night and Monday, I trust nothing near term

 

Senor

[jabat]

Eric Hadik interview - Gold topic starts from 44min

https://www.howestre...-week-in-money/

[senorBS]

lousy action in the miners this morning after the up opening, lots of volatility and cross currents with Ukraine war, glad I am 100% cash at this time, as always DYODD

 

Senor

[jabat]

Metals Are Not In A Strong Pattern

By Avi

I have been racking my brain and running more calculations than I can explain to you to in order to discern the price structure in the metals complex.  But, nothing is providing a strong degree of clarity at this time.

This past week, the metals had an opportunity to again provide us with somewhat of a reasonable Fibonacci Pinball upside structure, and have again failed to do so.  Thus far, over the course of the last year, both the upside and downside ideal structures have failed many times.

Normally, when structures in a bullish larger degree structure fail, it means that the corrective structure has not completed, and we will need to maintain more patience before the next major rally takes shape.  However, in this case, I cannot adopt such a perspective at this time.

As you can see, I have revised the alt-corrective structures, which would suggest that the high from this past week may have been the top of a corrective b-wave structure, pointing us lower again.  But, until I see more evidence of this potential, I am not yet willing to adopt this.

The bigger degrees in the metals counts all suggest that we have much higher to still be seen.  But, the problem is that we have failed each time to see upside follow through in those ideal paths higher.  So, unfortunately, I am going to need to see a bit more action in the coming week before I can make a determination as to whether we have to turn protective again.

I have been dealing with metals for several decades now and they have always been one of my favored segments of the market to trade, as they usually have provided quite wonderful set ups on both the upside and downside.  Yet, to be quite honest, I cannot remember another time when we have had so many upside and downside structures fail to follow through all within a single region.   Unfortunately, it leaves me in a position of remaining net long the complex, with an eye towards a possible continuation of this correction.   For now, I am not doing anything further, and will simply await more information as the market provides us further wave structure in the coming week.  

I am sorry that I am unable to provide much more guidance for the coming week just yet, but I can only impart to you what the market shows to me.  And, at this time, it is not providing me with a clear upside or downside structure.  But, the one thing that I can say with certainty, and which I have reiterated for weeks now, is that the market has not provided us with a reason to be aggressive on either side of the trade right now, as neither side has provided us with a strong structure with which we can trade with a high degree of confidence in the near term.  So, without any strong indications, I must remain net long as the bigger patterns suggest we are still in a bull market with higher highs likely to come over the coming year or so. 

[senorBS]

 

Metals Are Not In A Strong Pattern

By Avi

I have been racking my brain and running more calculations than I can explain to you to in order to discern the price structure in the metals complex.  But, nothing is providing a strong degree of clarity at this time.

This past week, the metals had an opportunity to again provide us with somewhat of a reasonable Fibonacci Pinball upside structure, and have again failed to do so.  Thus far, over the course of the last year, both the upside and downside ideal structures have failed many times.

Normally, when structures in a bullish larger degree structure fail, it means that the corrective structure has not completed, and we will need to maintain more patience before the next major rally takes shape.  However, in this case, I cannot adopt such a perspective at this time.

As you can see, I have revised the alt-corrective structures, which would suggest that the high from this past week may have been the top of a corrective b-wave structure, pointing us lower again.  But, until I see more evidence of this potential, I am not yet willing to adopt this.

The bigger degrees in the metals counts all suggest that we have much higher to still be seen.  But, the problem is that we have failed each time to see upside follow through in those ideal paths higher.  So, unfortunately, I am going to need to see a bit more action in the coming week before I can make a determination as to whether we have to turn protective again.

I have been dealing with metals for several decades now and they have always been one of my favored segments of the market to trade, as they usually have provided quite wonderful set ups on both the upside and downside.  Yet, to be quite honest, I cannot remember another time when we have had so many upside and downside structures fail to follow through all within a single region.   Unfortunately, it leaves me in a position of remaining net long the complex, with an eye towards a possible continuation of this correction.   For now, I am not doing anything further, and will simply await more information as the market provides us further wave structure in the coming week.  

I am sorry that I am unable to provide much more guidance for the coming week just yet, but I can only impart to you what the market shows to me.  And, at this time, it is not providing me with a clear upside or downside structure.  But, the one thing that I can say with certainty, and which I have reiterated for weeks now, is that the market has not provided us with a reason to be aggressive on either side of the trade right now, as neither side has provided us with a strong structure with which we can trade with a high degree of confidence in the near term.  So, without any strong indications, I must remain net long as the bigger patterns suggest we are still in a bull market with higher highs likely to come over the coming year or so. 

 

I "feel" his pain and agree how darn tough it is, once again highlights why I am a TRADER only here, one would think gold should be above 2000 and climbing with all that has transpired in the last week, has not happened "so far" - danger "Will Robinson"? we see, GLTA

 

Senor

[Smithy]

I reinstated the 50% of my g&s shares earlier today that I sold on the open on Thurs (posted on dharma's thread). 

 

I remain bullish on SPX, and bitcoin (GBTC) got a boost when the West  froze some of Russia's bank reserves.

 

Changing subjects, as y'all know, Trudeau set out to freeze people's bank accounts who donated to the truckers' cause. He did this unilaterally, without a court order and before the Emergency Powers Act was invoked. Depositors fled the Canadian banking system and he hastily reversed himself. It is not a good omen of things to come, Canada or anywhere else.

[senorBS]

I reinstated the 50% of my g&s shares earlier today that I sold on the open on Thurs (posted on dharma's thread). 

 

I remain bullish on SPX, and bitcoin (GBTC) got a boost when the West  froze some of Russia's bank reserves.

 

Changing subjects, as y'all know, Trudeau set out to freeze people's bank accounts who donated to the truckers' cause. He did this unilaterally, without a court order and before the Emergency Powers Act was invoked. Depositors fled the Canadian banking system and he hastily reversed himself. It is not a good omen of things to come, Canada or anywhere else.

I am staying very conservative here as my accts eked out a new all-time high at last weeks end. I'd rather await and perhaps buy some strength here in miners as they need to "show me" something. Happy being 100% cash until I can have some confidence. Best of luck on your positions

 

Senor

[dougie]

Dylan Grice

@dylangrice

never seen weaponization of money on this scale before…you only get to play the card once. china will make it a priority to need no USD before going for Taiwan. it’s a turning point in monetary history: the end of USD hegemony & the acceleration towards a bipolar monetary order

[senorBS]

put back on some longs this morning (20% position). looks very good for a continuing rally IMO. today was an important session for me

 

Senor