Goldtent TA Paradise

EXECUTING A STRATEGY CHANGE

1. pedro_deleon says:

   February 20, 2021 - 9:04 pm at 9:04 pm

   I went bearish back in Sept or so (Fully can check my posts here) but at that time I expected a Dec bottom, and then new highs (waves 4 and 5). When Dec arrived, it had potential and silver was encouraging. Got some IT (bounce) signals but never got the LT confirmations I count on to pile in.

   [Late in a month, I might buy in expecting the calendar flip to support that signal flip. If not, I’m right back out.]

   Now though … this is all quite concerning. Chart TBT and note how its mirroring GDX. One up the other down …leisurely. There’s the connection.

   Now pull up a monthly MACD and its signal line for GDX or another other PM index ETF. The histo is still WIDENING, not converging. That’s what persistence does. Now the weeklies are, and have been oversold. So they are due for a bounce. (But bucky is due for one too in a few weeks.)

   So my read … for now … is that we either crash (they ALWAYS happen from oversold conditions at one time frame, when trumped at a higher timeframe that’s really in control.) or we get the bounce. (MACD up toward a buy signal on mo.) But even if we do get the bounce … a good one that is … we likely get overbought before that monthly MACD flips. AND THAT’S WHEN THE BIG ONE HITS. Wave 3 down. (Buyers suddenly shout expletives and flip to sellers) So don’t be too surprised if bears and bulls both get opportunities to boast over coming months. Only to set up for something nasty … such as margins calls like never before and circuit breakers. (Everyone at NIRP is leveraged to the gills) Yeah, that really is how this could play out … I’ll update on this in August if I get prodded. After all this is THE BIGGEST CREDIT BUBBLE IN THE HISTORY OF ALL HUMANITY. It will most certainly sweep fundamentals aside if the tides ever really does go out.

   How much confidence can you EVER put into a committee?

   • Fullgoldcrown says:

     February 20, 2021 - 9:29 pm at 9:29 pm

     You better keep us posted pedro .

     This is a pretty dramatic scenario you are seeing

     I am sure many would like to follow your thinking in real time when you can.

     Thanks

   • Silverhawk says:

     February 20, 2021 - 10:26 pm at 10:26 pm

     Just feels like they are ready to go for broke here and collapse things, create pain needed to usher in whatever new currency scam they are brewing up.

2. Paul says:

   February 20, 2021 - 9:45 pm at 9:45 pm

   Thanks Plunger.:)P

3. silver fox says:

   February 20, 2021 - 9:59 pm at 9:59 pm

   Great post. Thanks Sir Fully and Sir Plunger.

4. Silverhawk says:

   February 20, 2021 - 10:24 pm at 10:24 pm

   Good stuff. Been pretty much my view as have been only focused on pure silver plays for now. (PSLV) The GDX H&S would be back in the upper teens. yikes.