4036 replies to this topic

[gannman]

wouldnt touch this thing from the long side at all just my take 

[gannman]

i want to buy calls on gld but not until it closes over 187 

 

not taking any risk on that trade 

[Smithy]

Overnight spot silver dipped to exactly -50.0% retrace of the wave 1 upmove from $11.63 to $20.85

 

 All major retraces in gold and silver since 2001 have an average close to 50%.

 

EW says this wave 2 can retrace 50% to 62%. Silver can go to extremes.  3 of 3 lies ahead.

 

The Fed may have triggered a liquidity crisis.

 

The non-performance of precious metals in the face of raging inflation is disappointing. In similar inflation in the '70s the gold price roared.

[crossd]

Overnight spot silver dipped to exactly -50.0% retrace of the wave 1 upmove from $11.63 to $20.85

 

 All major retraces in gold and silver since 2001 have an average close to 50%.

 

EW says this wave 2 can retrace 50% to 62%. Silver can go to extremes.  3 of 3 lies ahead.

 

The Fed may have triggered a liquidity crisis.

 

The non-performance of precious metals in the face of raging inflation is disappointing. In similar inflation in the '70s the gold price roared.

..the action now says inflation has peaked..sell the news argument...PPI came in +0.4..less than expected..but selling in gold/silver seems overdone..

 

donc

[K Wave]

Hopefully, nobody getting hurt here today. You always got to be careful when you get Synchronous Cyclicity downside...

[K Wave]

It does not always turn into a disaster in these setups... But sometimes it does...

[Smithy]

Spot gold  --   A=C at 1817.9; we'll see...

[K Wave]

Here's the problem with Gold...and why one is simply gambling holding here after the definitive action  at 1853

 

1. Clear textbook (my textbook anyway) 4 hour transition to bear mode.

 

 

2. A breach of the 200 day MA after what is increasingly looking like a complete bull failure...this is where crashes CAN happen...

 

Is it really worth the risk here of "hopefully" catching that falling knife with no cuts??

 

[gannman]

yup lots of risk here i wont be buying gld at this level even though i am tempted

 

from an e wave mode gld completed iii of c today imo . i would like to see a rally 

 

here for a iv of c and then a final drop down 

 

and same thing with gdx looks like we completed iii of c today should rally

 

we will see 

 

 

and the broad market should rally here . i believe today we completed i of 3 down 

 

so shoud be a good rally maybe up to about 320 area in the qqq's

Edited by gannman, 12 May 2022 - 05:59 PM.

[Smithy]

Thanks, Kwave.