Loading ...PLUNGER WEEKEND REPORT
Rambus Chartology Puts out a provocotive and informative Weekend report every weekend
This 4th of July Special is penned by our Resident Market Historian….Plunger
Great Work here….Repost…Must see for Goldophiles
https://rambus1.com/2021/07/03/weekend-report-state-of-the-gold-mining-stocks-bull-or-bear-plunger/
I agree with this as well Plunger !
I consider Rambus to be the preeminent chartist in the world. This is not hyperbole, I simply haven’t seen anyone better. If I had his charting skills I would move to Greenwich, Connecticut tomorrow and hang out a shingle. My fee for the exclusive rights to my work would start at $1 million. Yes, that’s how good he is.
Thanks for posting this Fully.
I’m known elsewhere as the “Counter-Contrarian Bastage”, for a reason.
So I will dissent again on Plunger’s take in several respects.
I shared my views with him directly last night, by the way.
First, I do believe we are in a Secular Bear Correction. Yes, secular AND correction.
That is/was the key takeaway from my LT EW Gold Count appearing in Keepers.
We are in a Cycle Degree wave IV correction, from 2011. And it won’t end anytime soon.
That means 2016 to 2020 was a BMR on its own, as the B wave within ABC of IV.
And the more recent bounce was just a smaller degree BMR very early within C down.
None of us have crystal balls of course … it all depends on how robust your methodology is.
But who else on this board has been steadfastly bearish w/r/t PMs since September (and when I called out a likely top)?
I rely on my own (non EW) tools first, for real time takes. But I take counsel from others who use EW to look down the road, like Sam.
Sam has us EARLY in 1 of C (of IV). He has 1 down ending next year. After a bounce for 2, 3 down would follow and be the bigger decline. Another bounce, then the final move into THE LOW. (For non EW folks, C waves have five legs, 3 of then downward.) I presume plans for (or political default to) hyperinflation would be what re ignites the PM complex.
gold/silver useless barbaric relic…got bitcoin? LOL
Plunger has a habit of composing seriously thought-provoking essays. Much respect.
Thanks, Fully, and thank you Plunger for the post.