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Topic: Bottom?  (Read 593 times) previous topic - next topic

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Bottom?


The bottom is very close, if that wasn't it. I feel we will be able to tell from the PA in the miners. They will continue higher if that was bottom. I expect a break of this year long consolidation this fall.
For Entertainment Purposes Only.

Re: Bottom?
Reply #1
I agree the bottom may be in and if not, very close. Lower support line and upper resistance line form a wedge that is indicating break out is coming soon. MACD is near to bullish orientation and moving in that direction with RSI trending up as well. Price is in lower half of BB spread that is widening indicating the upward bias is more likely to continue than reverse. PSAR looks about to turn up.

Re: Bottom?
Reply #2
left off the curves with a fat finger move:






Re: Bottom?
Reply #3
Looking over the past, it doesn't happen often, but we need to stay realistic to further downside. Hope not.

Re: Bottom?
Reply #4
Realistically looking to the downside is a constant must, especially when at 0400 hours when PM's are in low volume hours, someone('s) has need to sell an excessive quantity, probably a quantity not in possession so they papered up, to be sure they get the lowest price possible. Makes perfect sense to me!




Re: Bottom?
Reply #5
Interesting bottom touch. It could be that signal.


  • Erich
  • [*][*][*][*]
Re: Bottom?
Reply #6
Interesting bottom touch. It could be that signal.


impressive turn around on the GDX with gold and silver still down. Good call.
ER

Re: Bottom?
Reply #7
All I can say about the Yen is that it's last run up in the afternoon didn't come from a solid foundation, making it weak and more prone to collapse. Watching this juncture after hours, the Yen doesn't have the real solid foundation I'd like to see, however it's looking pretty strong at this time. We'll see what tonight and tomorrow will bring. GL.

Re: Bottom?
Reply #8
Successful spikes in for the GDX and GDXJ, not seeing much in Gold and Silver and the Yen looks to pretty much unaffected. Disconnect?

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: Bottom?
Reply #9
Successful spikes in for the GDX and GDXJ, not seeing much in Gold and Silver and the Yen looks to pretty much unaffected. Disconnect?
That is what I am looking for, when demand overcomes the Yen it can start to really move. With all the turmoil building up on the political scene it may be soon. Right now I have a third position in GPL. There will be a pullback in some of the miners like PVG and SSRI soon. Time to buy?

  • Erich
  • [*][*][*][*]
Re: Bottom?
Reply #10
Successful spikes in for the GDX and GDXJ, not seeing much in Gold and Silver and the Yen looks to pretty much unaffected. Disconnect?
That is what I am looking for, when demand overcomes the Yen it can start to really move. With all the turmoil building up on the political scene it may be soon. Right now I have a third position in GPL. There will be a pullback in some of the miners like PVG and SSRI soon. Time to buy?
  Could use another 500 shares of SSRI. It always seems to run away from me. I will hold what I have for now. The dollar is due for a bounce one of these days which should drop the miners for a bit. long AG SSRI CDE. Unhedged at the moment

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: Bottom?
Reply #11
Successful spikes in for the GDX and GDXJ, not seeing much in Gold and Silver and the Yen looks to pretty much unaffected. Disconnect?
That is what I am looking for, when demand overcomes the Yen it can start to really move. With all the turmoil building up on the political scene it may be soon. Right now I have a third position in GPL. There will be a pullback in some of the miners like PVG and SSRI soon. Time to buy?
  Could use another 500 shares of SSRI. It always seems to run away from me. I will hold what I have for now. The dollar is due for a bounce one of these days which should drop the miners for a bit. long AG SSRI CDE. Unhedged at the moment
SSRI looks like the king to me. I will buy that and AG. CDE looks like its going to be a dog this year.

Re: Bottom?
Reply #12
Successful spikes in for the GDX and GDXJ, not seeing much in Gold and Silver and the Yen looks to pretty much unaffected. Disconnect?
That is what I am looking for, when demand overcomes the Yen it can start to really move. With all the turmoil building up on the political scene it may be soon. Right now I have a third position in GPL. There will be a pullback in some of the miners like PVG and SSRI soon. Time to buy?
Even though it is possible for Gold and Silver to fire off today, I don't think it is likely to with any great surge. It's looking like pivoting to me, a setup or slow swing. Obviously something is going on in the GDX's arena. Still unclear and a little risky yet, early buying would be in line with what appears to be happening now IMO. GL and I hope to see continued swing play.

Re: Bottom?
Reply #13
Here is an interesting and potentially different take on the PM take down yesterday morning and thoughts on what is driving PM prices plus some additional PM information.

http://www.321gold.com/editorials/thomson_s/thomson_s_062717.html

Re: Bottom?
Reply #14
Another "special morning" for gold getting special attention from the short sale lemmings trying to get the least for their product, only an hour earlier than Monday.