4036 replies to this topic

[Smithy]

my short term count on silver to me it looks like it should blast off here fwiw 

 

Looking good, GM

[gannman]

thanks smithy it sure looks like a clear 5 waves up in slv my friend

 

heres an idea that has nothing to do with gold fellas 

 

retl the 3x retl bull etf . i think it is very close to a major bottom

 

i will start picking it up 

[gannman]

copx above 41 its a stone cold buy imho just my take dyodd 

[linrom1]

Open Interest and price are both going down. How is this bullish?

[gannman]

when gdxj goes above 44 we should see some dynamic action to the upside. it is coming 

 

of that i have no doubt

[Smithy]

$1,840 - bullish above, bearish below...

 

 

[senorBS]

copx above 41 its a stone cold buy imho just my take dyodd 

I favor COPX has a clean and clear huge 5 down from recent intermediate term high and is undergoing a corrective rally to the area of prev 4th wave at the 40 area. No wave count is guaranteed but this to me looks high confidence, I remain 100% cash, we see

 

Senor

[senorBS]

Open Interest and price are both going down. How is this bullish?

[senorBS]

 

Open Interest and price are both going down. How is this bullish?

 

The sentiment IMO is not bullish either, with HGSI up another 9% to 38%, very content to be on the sidelines

 

Gold 71/silver 48

HGNSI 38.24%.

[dharma]

there are lots of ways to judge sentiment.  take this chart for instance https://cdn-ceo-ca.s...-II-5252022.jpg

 A measure of # of goldminer stocks trading below 50 day moving avg. That is about 99% according to Jason Goepfert. Last time it was > 50% of stocks was March 2020. We all know what happened next. Will the same thing happen now? Statistically, yes!, a large move will occur in the other direction, the question is when?

then add in this https://kingworldnew...22-1024x581.jpg

At the worst point during the latest round of selling pressure, more than a quarter of gold mining stocks fell to a 52-week low at the same time. Over the past five years, that has meant a bottom.

 

jason goepfert of sentiment trader

that is a very bullish picture.  in the past a dsi of 10 or below  was lopsided and bullish . the environment has changed there are a # of bullish gold factors now built into the cake.  so the parameters have changed.  these factors  sentiment trader mentions have led to a rocket ride up just 2 yrs ago

dharma

that picture sure looks like capitulation to me . the sector was sold very hard. and straight across the board. 

Edited by dharma, 26 May 2022 - 10:43 AM.