Loading ...Short PMs ?
I am still short BUT starting to wonder why
Can’t be a whole lot of Life left in this Old Grizzly
Basis the XAU Monthly
A Thing of beauty if you are a fan of Reverse Symmetry
Is the Risk Reward even worth it though ?
Food for thought
Sir Norvast from the Chartology Forum ….the Resident Gann Master …points out
Gold Bottomed On October 24 2000 and again on October 25 2008
He postulates another bottom October 2016
There’s your 8 year Cycle Bopo !
15 more months of pain ?
Good Grief, either we are less than 1 month from the End of the Bear or the cusp of a counter trend rally before heading back down for a double bottom
Agree James
We Must Zoom Out from time to time and see where we are in the Big Picture
It would be fun to ride one more wave down….but this chart says “Careful”
If you are using DUST for example a trip to 100 HUI is 15% X 3 = 45%
sounds great !
BUT we could just as soon go to test 130 and lose 45%
3 little points on HUI is 6% on DUST these days !
I have $1115 gold and $15.15 silver as bounce targets before resuming down. These oversold conditions need to work themselves out somewhat. (minor rally+ sideways action)
Another thing to take note of is this. Miners almost always bottom 1st (a few weeks to a few months) before metals usually do. I wouldn be surprised to see Miners bottoming in August while Metals 2 months later.
EW charts are telling me we have at least 3 more wave 4’s to survive… Once we complete the ‘3’ on my GDX Chart might be a place to go long. This higher degree four might take us to October but will be messy to trade as all wave 4’s…
With the XAU/Gold ratio so incredibly stretched, it’s possible that miners could outperform gold from here on. This market is crazy though. Nothing surprises me anymore in these markets.