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Post by platy on Jul 15, 2014 12:31:14 GMT -5
More carnage for the metals. Hopefully GDX drops to fill the gap on Monday. That would be a nice set-up.
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Post by simonsays on Jul 15, 2014 12:49:13 GMT -5
Yeah, I'm ok with this so far. Seems healthy so far.
Almost seems as if a whiff of asset deflation is in the air.
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Post by sb on Jul 15, 2014 12:56:23 GMT -5
I tried to start a new thread this morning so I could chat with myself, but it wouldn't go through. lol
Same problem as other time, Simon.
$25 on GDX gives us a 50% retrace from the $22 bottom, relieves some overbought stochastics, and gets close to filling the gap as well. I will happily nibble if we get there, if not I'm already well loaded.
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Post by simonsays on Jul 15, 2014 12:58:49 GMT -5
Well that sucks about the thread SB. I'm at a loss what do other than request an explanation from the site owner.
I was going to start a thread earlier but then got caught running around.
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Post by sb on Jul 15, 2014 13:22:18 GMT -5
I wouldn't worry about it, life's too short.  |
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Post by sb on Jul 15, 2014 13:25:07 GMT -5
I see we shook off a few bulls this morning, but still have some hanging on nervously. I'd prefer to get another crack to the downside as I mentioned above, it would make for a textbook pullback and send a few more scurrying for the sidelines. Not at all sure it'll play out like that since there has been so much strength, but sure would be nice.
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Post by sb on Jul 15, 2014 13:46:44 GMT -5
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Post by simonsays on Jul 15, 2014 16:05:31 GMT -5
The ultimate buy signal for me is: oversold daily stochastics, price at support, ambiguous cycles interpretation and/or a possibility of failed weekly cycle, bearish prices being thrown around, MSM discussing how bad gold is, and the big one.....me starting to think about whether I should be selling instead of buying.
Edit: forgot one, a Platy turn date!
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Post by platy on Jul 15, 2014 16:34:00 GMT -5
...MSM discussing how bad gold is... ![]()  |
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Post by platy on Jul 15, 2014 16:35:54 GMT -5
Merriman is super super bullish
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Post by daniel on Jul 15, 2014 16:54:50 GMT -5
Merriman is super super bullish Merriman?? Please elaborate? THANK YOU |
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Post by sb on Jul 15, 2014 16:59:59 GMT -5
One thing for sure, I'm looking to nibble again and not concerned in the least about any weakness if it happens. To be fair to both sides, I would note the daily MACD on GDX have turned negative again, suggesting we could see lower prices in the short term. It's also possible we go a little lower, then essentially sideways for another several weeks before another ramp higher. Observing some of the bearishness on other blogs gets me interested, but it's still not strong enough to get me breaking out the checkbook. All said, it now appears more likely than not that we will close that gap at approximately $24.80, IMO. Maybe not tomorrow, who knows it could take another week or so (ideal), but it's time to focus on the upcoming opportunity and not worry about getting it perfect b/c that rarely happens. Same game plan, different price! |
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Post by simonsays on Jul 15, 2014 17:12:00 GMT -5
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Post by platy on Jul 15, 2014 17:34:03 GMT -5
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Post by platy on Jul 15, 2014 21:13:54 GMT -5
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