28 replies to this topic

[senorBS]

gold shot up to near 925 this am.
i am aware of the seasonal tendencies till the end of august!
my stuff shows some pressure till around mid month.
all that being said, i think there is a really good chance gold has bottomed. i am still out on that limb.
at least its not a ledge!
we will see if the shares catch up to the metal.
dharma

Unfortunately don't think so amigo, after this norte correction gold goes south of 850 border in Senor's opinion. Senor sees mucho cinco wave declines.

BS is beautiful

Senor

BSing away

Senor
yes, i see the 5 wave declines i am counting it as a C . however i do see the possibility that it is an A. in either event i dont think 850 breaks, and if it does not by much. its what i love about markets. dharma

how can you count it as a C? C of what Senor asks? and please don't try to tell me it's a grande failure. I am not referring to the XAU or HUI, but gold and silver.

Senor

Dharma, C waves are suposed to take out the A wave low, or at least come reasonably close. No way in gold and silver can or would I label these recent cinco wave declines as a C wave. You are making a grande dangerous assumption in Senor's opinion if you "assume" that. It is cinco down from a muy importante rally high at 989 - that mi amigo is bearish in this old hombre's eyes!

NO BS

Senor

[dharma]

gold shot up to near 925 this am.
i am aware of the seasonal tendencies till the end of august!
my stuff shows some pressure till around mid month.
all that being said, i think there is a really good chance gold has bottomed. i am still out on that limb.
at least its not a ledge!
we will see if the shares catch up to the metal.
dharma

Unfortunately don't think so amigo, after this norte correction gold goes south of 850 border in Senor's opinion. Senor sees mucho cinco wave declines.

BS is beautiful

Senor

not in flat corrections the A was a 3 wave move. dharma

BSing away

Senor
yes, i see the 5 wave declines i am counting it as a C . however i do see the possibility that it is an A. in either event i dont think 850 breaks, and if it does not by much. its what i love about markets. dharma

how can you count it as a C? C of what Senor asks? and please don't try to tell me it's a grande failure. I am not referring to the XAU or HUI, but gold and silver.

Senor

Dharma, C waves are suposed to take out the A wave low, or at least come reasonably close. No way in gold and silver can or would I label these recent cinco wave declines as a C wave. You are making a grande dangerous assumption in Senor's opinion if you "assume" that. It is cinco down from a muy importante rally high at 989 - that mi amigo is bearish in this old hombre's eyes!

NO BS

Senor

[dharma]

Awas 3 waves. no assumptions. so it was an irregular flat . dharma

[senorBS]

gold shot up to near 925 this am.
i am aware of the seasonal tendencies till the end of august!
my stuff shows some pressure till around mid month.
all that being said, i think there is a really good chance gold has bottomed. i am still out on that limb.
at least its not a ledge!
we will see if the shares catch up to the metal.
dharma

Unfortunately don't think so amigo, after this norte correction gold goes south of 850 border in Senor's opinion. Senor sees mucho cinco wave declines.

BS is beautiful

Senor

not in flat corrections the A was a 3 wave move. dharma

BSing away

Senor
yes, i see the 5 wave declines i am counting it as a C . however i do see the possibility that it is an A. in either event i dont think 850 breaks, and if it does not by much. its what i love about markets. dharma

how can you count it as a C? C of what Senor asks? and please don't try to tell me it's a grande failure. I am not referring to the XAU or HUI, but gold and silver.

Senor

Dharma, C waves are suposed to take out the A wave low, or at least come reasonably close. No way in gold and silver can or would I label these recent cinco wave declines as a C wave. You are making a grande dangerous assumption in Senor's opinion if you "assume" that. It is cinco down from a muy importante rally high at 989 - that mi amigo is bearish in this old hombre's eyes!

NO BS

Senor

Ah, so you are assumimg it is a flat correction, hmmm. Well it looks like no flat correction Senor has ever seen, but anything is possible. Bueno luck.

NO BS

Senor

[senorBS]

Awas 3 waves. no assumptions. so it was an irregular flat . dharma

No it wasn't and we will see.

Senor

[dharma]

eggsactly! dharma

[dougie]

twould be nice to see these counts: are we speaking of gold or the indices or both? Could we not see gold get taken down and miners not?

[dharma]

it feels like i am not only out on a limb , but alone out here. its ok i was born alone, and i remain alone. this is a bull market and until the market shows me something else, i remain bullish. i do not think 850 gets broken. if this is an upward correction , then it should have only 3 waves. if not 5. my work shows the dollar completing the congestion w/a 5 wave C wave. coinciding w/ completion ofC. we shall see. my work shows pressure into the 11th. today is the solar eclipse , which generally causes emotions to run high. its affects can be felt for 6months. good luck to all dharma (Chapter V) … “I think it was a long step forward in my trading education when I realized at last that when old Mr. Partridge kept on telling the other customers, “Well, you know this is a bull market!” he really meant to tell them that the big money was not in the individual fluctuations but in the main movements – that is, not in reading the tape but in sizing up the entire market and its trend.”

[johngeorge]

Hey dharma I am still on a limb, a very shakey one, with my GDX position and looking to pull the trigger at any time. So you do have a bit of company anyway, just maybe not for long. Best to you

[senorBS]

Hey dharma
I am still on a limb, a very shakey one, with my GDX position and looking to pull the trigger at any time. So you do have a bit of company anyway, just maybe not for long.

Best to you

Early rally giving up mucho, maybe too mucho, Senor does not like.

BSing away

Senor