18 replies to this topic

[Tor]

I think we get there soon, clearly the price is blow off pahse. it could be a good short entry, where could cover at a break above recent highs. if those highs are taken then its anyones guess where she goes. good trading. incidentally I am also doing some of the follwoing in small size: Long dollar Short oil short gold. Fade me if you wanna. I have a stop loss point in place, and a small trade with good RR IMO and smaller in size. I am still long some gold stocks, so this could be a neat hedge!!!

[gvc]

GETTING CLOSER

[Trend-Shifter]

My gut says I should sell today. If the dollar was down on it's own accord it would probably keep the gold trend in place. Because it was a Chinese official talking the dollar down I think the boyz will do something tomorrow. TOR may be right on being long the dollar, short gold & oil. BTW, the Chinese love a weaker dollar since they are still tracking the dollar. Never mind that they are loosing tons on the dollar investments, but for trade purposes it keeps them on top of the heap. My system says not to sell yet. GUT SELL, SYSTEM HOLD ????

[Trend-Shifter]

I have travel and meetings the next two days. So I gave into my gut and sold my GDX in both accounts. I can always get back in. I don't see any more gains on the day, maybe even down from here. It will probably rocket up since I sold!

[dougie]

Tor: just out of curiosity, how many tops have you called in recent weeks?

[fib_1618]

I think we get there soon, clearly the price is blow off phase.

Yes, we're pretty close, if not already, to the end of the center point of wave three up - unless we get a 5th wave extension of the current 5th wave extension which is always possible with gold.

From there, we still have a double series of 4's and 5's to balance the initial series of 1's and 2's still yet to come, but with all upside technical targets fully satisfied, silver breaking out just yesterday, and everyone questioning the US Dollar as to its leadership in the world's financial markets, a sharp and short pause to refresh is certainly not out the realm of probability.

This pause would also allow silver to snapback to or towards its recent breakout point in preparation of moving sharply higher as this same series of 4's and 5's for gold continues to unwind later on.

Fib

[dougie]

great post fib

[dharma]

hi fib, i think we are finishing 3of 3 here, w/5of 3 after this correction, and my sense is it will extend! 1st the dollar will test 80 and gold will have a 7 handle dharma

[senorBS]

I think we get there soon, clearly the price is blow off phase.

Yes, we're pretty close, if not already, to the end of the center point of wave three up - unless we get a 5th wave extension of the current 5th wave extension which is always possible with gold.

From there, we still have a double series of 4's and 5's to balance the initial series of 1's and 2's still yet to come, but with all upside technical targets fully satisfied, silver breaking out just yesterday, and everyone questioning the US Dollar as to its leadership in the world's financial markets, a sharp and short pause to refresh is certainly not out the realm of probability.

This pause would also allow silver to snapback to or towards its recent breakout point in preparation of moving sharply higher as this same series of 4's and 5's for gold continues to unwind later on.

Fib

Si si amigo. Senor thinks you have it exactamundo. We now stair step higher, should be bueno trading.

BSing away

Senor

[dougie]

the yen strenght today is cause for a pause I am concerned about the gerally bullish consensus i see in these threads, the break of 1490 spx today, the yen, and the dollar being in a bounce zone dougies wall of worry?