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Topic: June (XAG, USDJPY, XAU, GDX, GDXJ) (Read 884 times) previous topic - next topic

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Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #30
With the failure on Silver's attempted break around 11:00 a.m. we are now pulled back to the lines in Gold, the GDX and Silver with the Yen paused at a line I didn't see yesterday. I adjusted the bands of silver to see how it fits into Gold and the GDX's current position. It's looking like the classic pullback/setup. If we don't swing around and greatly advance tomorrow I will be very surprised. I'm looking at failure in the Yen at 108.98 at this time.


Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #31
How much the Yen does is a question, however, its recent performance looks weak to me and I don't see today's pull down as being that significant at this time. I think it is just a matter of time. CDE along with many other stocks have been set back recently, but it is poised for a strong break in my opinion. I believe it's a real leader in where we are going. Slow building, but I'm betting we are going up.

Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #32
Something to take into consideration. I hope it plays out with a reversal / upswing, but it's to close for a high risk gamble. I took the safer course by pulling most of my money out leaving minimal holdings, but holdings none the less. GL all.

  • Nikko
  • [*][*][*][*][*]
Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #33
wow...chartist...that is bold move.
I would never try something like that as if wrong, you pay dearly and will get into FOMO mood. I always think prudent to sell some and have some cash depending on what you believe. Presently I am at 20% cash.

Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #34
wow...chartist...that is bold move.
I would never try something like that as if wrong, you pay dearly and will get into FOMO mood. I always think prudent to sell some and have some cash depending on what you believe. Presently I am at 20% cash.
The current position is a trap if it goes south. I'm not able to clearly define a course at this time, so It comes down to a choice of gamble or not? I'd rather not and I'm not planning on playing it anymore if it goes up from here. Where I was about 100% in basic materials, I'm now about 30% for the ride, moving the core of my money into another company for a short time. I'm trying to keep that on the momentum line. The 5 day ma for the most part and continue to build. Traps are money lost or time lost. I like how the ma's on the chart clearly show the safer zone to start building from and from a decent gain I would be more apt to take the gamble. It's all a matter of timing so I'll keep this chart design in mind when timing silver and gold. It's a part of what I have on my board, but displays differently on tradingview charts. Simple and clear leads to speedy and safer choices. GL.

Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #35
Cleared the slate and took a new look at silver. It fit together nicely and I'm pretty confident in the analysis. Monday's potential high and low values hit the trend lines well. We'll see what happens.

  • edthelorax
  • [*][*][*][*][*]
  • Administrator
Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #36
I would love to see a dip below 17 and an early AM Monday turn.
For Entertainment Purposes Only.

Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #37
Not bad developments seen in the GDX at this time with the Yen being off today. Favorable IMO.

  • edthelorax
  • [*][*][*][*][*]
  • Administrator
Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #38
Just like this.
For Entertainment Purposes Only.

Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #39
I find it interesting that the top twelve stocks in order of performance so far today are all bottoming forming stocks. GSS, GSV, EXK,GORO,SVM,NG,DRD,MUX,FSM,CLF,GPL and SAND. I wonder what that could mean. Setup or strengthening to the 40 MA line and then down. GDX hasn't held up, what a surprise. A lot of stocks not doing too bad. A few that are.

  • Erich
  • [*][*][*][*]
Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #40
I find it interesting that the top twelve stocks in order of performance so far today are all bottoming forming stocks. GSS, GSV, EXK,GORO,SVM,NG,DRD,MUX,FSM,CLF,GPL and SAND. I wonder what that could mean. Setup or strengthening to the 40 MA line and then down. GDX hasn't held up, what a surprise. A lot of stocks not doing too bad. A few that are.
Good observation. I have never seen a gap like this between GDX and GDXJ.  CDE getting killed while the lesser miners are gaping up. Go figure. ER

  • Nikko
  • [*][*][*][*][*]
Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #41
GDX stocks are down while GDXJ stocks are up...simple as that.
The rebalancing concludes on Friday after the close.

Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #42
Here's a first level tier chart in relation to their 10 MA's. The thought, strength is indicated when they can hold up against the first tier level. I've noticed that an upswing can usually be broken into three levels before losing momentum excluding the emotional drive factor. I looked at it across Silver, Gold, and the Yen. The message is about the same, we are on the line. It's up or down, but looking at this chart the odds look to be in favor of Gold and Silver popping from their lines and the Yen continuing to drop. It's 50/50 and could play the other way as well. I had trouble with the chart, but checked the values and made sure they are in-line with my board. For what it's worth.

  • Erich
  • [*][*][*][*]
Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #43
GDX stocks are down while GDXJ stocks are up...simple as that.
The rebalancing concludes on Friday after the close.
Never seen a disparity like that. Have you?

  • Nikko
  • [*][*][*][*][*]
Re: June (XAG, USDJPY, XAU, GDX, GDXJ)
Reply #44
not really...but there has never been a reshuffle this big. Looks like the shorts are covering the names that are being sold in the GDXJ into Friday. No way to trade this IMO as we have no idea what brokers have taken what positions ahead of the Friday reshuffle.
I may be a buyer of CDE and AG on Friday if they are 6-10% below ydays close.