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Topic: Rays of hope  (Read 389 times) previous topic - next topic

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Rays of hope
in the same manner as "finding a gold bottom" i ran rays through the low, but not the absolute bottom.

For Entertainment Purposes Only.

Re: Rays of hope
Reply #1
Just a quick daily for silver.

Re: Rays of hope
Reply #2
For Entertainment Purposes Only.

  • Nikko
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Re: Rays of hope
Reply #3
no reason to go long at this point in gold/silver or miners...the Yen is running away and above 200 dma. Best to wait at this pony to buy any new positions.
Also FOMC and jobs report will play big rolls...keep powder dry...the lower it falls the greater the upside eventually.

  • Erich
  • [*][*][*][*]
Re: Rays of hope
Reply #4
I am holding on to AG and CDE only. Still short HL and plenty of cash.  A few miners I watch look to be closing in on 52 weeks lows.
Hard to believe.
ER

  • Nikko
  • [*][*][*][*][*]
Re: Rays of hope
Reply #5
yep...I love it have plenty of cash..I am tempted to buy some AG here but will wait for FOMC tomorrow.

Re: Rays of hope
Reply #6
no reason to go long at this point in gold/silver or miners...the Yen is running away and above 200 dma. Best to wait at this pony to buy any new positions.
Also FOMC and jobs report will play big rolls...keep powder dry...the lower it falls the greater the upside eventually.

Looking at 2 year charts of several mining companies revealed an interesting common characteristic, that being a line through the low of Dec 16 and the low of Dec/Jan 17 or Mar 17 was support that is now being challenged by current prices. Drawing the same line for silver shows current price well below the support and for gold, the price continues to trace above the sloping trend line. I agree there is no need to go long at this point, but the mentioned trend line for so many stocks suggests an unsuccessful challenge would be very encouraging long term. Along those lines, I have not written my normal covered calls this week waiting on better premiums as I believe the challenge will be turned back with higher PM prices. Other TA indicators like RSI, MACD, STO's etc are not in general looking so shiny, but share prices have been tracing the lower BB the past week plus and are now turning into the band. This has been a precursor to flat to upward bias in the recent past.

Re: Rays of hope
Reply #7
The middle is my favorite of the 3 green,  that was very close to it this AM.

For Entertainment Purposes Only.

  • Nikko
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Re: Rays of hope
Reply #8
if 16.60 breaks...why do u see support at 16.40?

Re: Rays of hope
Reply #9
16.40 was the middle trendline, it blew right threw that. Moot at this point.
I see this chart as being close to accurate, although from Dec.
 Ed's silver chart from Dec. 2016
For Entertainment Purposes Only.

  • CLARKBAR
  • [*][*][*]
Re: Rays of hope
Reply #10
Fear and greed.. two greatest players in both directions.. always tend to exaggerate the extremes. Point is, the predictive quality of the current move has been keenly anticipated, if not fully welcomed. 20 percent of the retrace will be quickly booked before players will respond, least it always seems to be the case.. Me? I tend to be a bit early.. just a bit.

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: Rays of hope
Reply #11
Monday is the day the metals will reverse.

Re: Rays of hope
Reply #12
For Entertainment Purposes Only.

Re: Rays of hope
Reply #13
For Entertainment Purposes Only.

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: Rays of hope
Reply #14
Amazing Ed! Excellent!