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Topic: Bottom?  (Read 402 times) previous topic - next topic

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Re: Bottom?
Reply #30
For Entertainment Purposes Only.

Re: Bottom?
Reply #31
I just posted a link supporting a gold bottom at this juncture, this is a Reader's digest version for silver, same conclusion fortunately.

https://www.clivemaund.com/article.php?id=67

Re: Bottom?
Reply #32
For Entertainment Purposes Only.

Re: Bottom?
Reply #33
A horizontal resistance is at $16.02 for silver, a few pennies gets silver through that and we could see $16.80. BB's do not look shiny as they arein a down trend, but the lower band is showing signs of a slope reversal. MACD is looking a lot better, possibly switching to bullish orientation today or early next week and RSI has moved up from an oversold level. Corresponding with the RSI low is a long tail down, maybe indicating capitulation. COT data (not shown) are favorable for a switch to rising PM prices. We well indeed may have a secular reversal in its infancy given all the other indicators we post on this forum.




Re: Bottom?
Reply #34
Here is the lead paragraph in a Clive Maund silver update "There will be no equivocating, fence sitting or any kind of hedging or expression of doubt in what is written in this update. Let me be absolutely clear: - we are now at the threshold of a barnburner rally in the Precious Metals sector, and silver is set to scream higher driven by a massive short covering panic, because short positions in it have ballooned in recent weeks to levels way above what we saw in December 2015, when silver hit its final bearmarket bottom, before the big sector rally during the 1st half of 2016"

Sounds like a back up the truck moment. I hate to say this as it could be a jinx; I am starting to get a little excited with all the quality analysts providing charts and fundamental data supporting a secular move up in PM's.

Link to article:

https://www.clivemaund.com/article.php?id=4243

  • Erich
  • [*][*][*][*]
Re: Bottom?
Reply #35
Nice to see some bullish sentiment on my first day back! Holding CDE and SSRI 33% cash.
Not 100 percent convinced this a real break out................................... yet.
ER

Re: Bottom?
Reply #36
Nice to see some bullish sentiment on my first day back! Holding CDE and SSRI 33% cash.
Not 100 percent convinced this a real break out................................... yet.
ER

You are probably wise being yet to be convinced this a 'the' breakout, but the downside risk continues to diminish. With all my options having expired, I am hesitant to write any calls thinking there might be a lot of money left on the table.

Re: Bottom?
Reply #37
Nice to see some bullish sentiment on my first day back! Holding CDE and SSRI 33% cash.
Not 100 percent convinced this a real break out................................... yet.
ER

So General market down a small amount, gold and silver essentially flat and GDX's down plus minus 2%. Anyone have any thoughts on the PM stock disconnect to the downside? I do not think it lasts.

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: Bottom?
Reply #38
Nice to see some bullish sentiment on my first day back! Holding CDE and SSRI 33% cash.
Not 100 percent convinced this a real break out................................... yet.
ER

So General market down a small amount, gold and silver essentially flat and GDX's down plus minus 2%. Anyone have any thoughts on the PM stock disconnect to the downside? I do not think it lasts.
Well that's like asking why AG is down 4% or PVG 3.85%. Profit taking on low volume? Or is the selling going into another sector. I really don't know.

  • Erich
  • [*][*][*][*]
Re: Bottom?
Reply #39
Nice to see some bullish sentiment on my first day back! Holding CDE and SSRI 33% cash.
Not 100 percent convinced this a real break out................................... yet.
ER

So General market down a small amount, gold and silver essentially flat and GDX's down plus minus 2%. Anyone have any thoughts on the PM stock disconnect to the downside? I do not think it lasts.
Well that's like asking why AG is down 4% or PVG 3.85%. Profit taking on low volume? Or is the selling going into another sector. I really don't know.
Looks like BS to me. Wading in here with half a positon AG.

Re: Bottom?
Reply #40
Nice to see some bullish sentiment on my first day back! Holding CDE and SSRI 33% cash.
Not 100 percent convinced this a real break out................................... yet.
ER

So General market down a small amount, gold and silver essentially flat and GDX's down plus minus 2%. Anyone have any thoughts on the PM stock disconnect to the downside? I do not think it lasts.
I'm not seeing anything at this time that would suggest a swing in favor to the Yen. The Yen has been "stepping down" and I think that is likely what today is, even though we will need to watch out for surprises. Silver looks solid, Gold looks pretty good. I'm looking for the Yen to step down again Tuesday or Wednesday. We'll see. GL.

Re: Bottom?
Reply #41
On the yen story, I would expect the metals to move on that change as well as the stocks. It might be algos working their magic or possibly some profit taking, but I would not expect that to be so wide spread. Chances are it is temporary. I added a little to my BALMF and held off writing covered calls thinking this down draft will bounce before the week is out.

  • Nikko
  • [*][*][*][*][*]
Re: Bottom?
Reply #42
personally i did well on my last trade as sold AG and CDE for 11.5% gains...
I have a simple rule trading and its working for me...buy on 3 consecutive down days...have 4% stop loss and sell once I hit 10% gain with trailing stops in the money.
Miners are a big bust on a LT basis and until the trend changes one should only trade it.

  • Nikko
  • [*][*][*][*][*]
Re: Bottom?
Reply #43
I was itching to buy AG in CAD but resisted today...have to stay disciplined.

  • CLARKBAR
  • [*][*][*]
Re: Bottom?
Reply #44
Nickk , discipline~!  We can't see an example of it's use... OFTEN ENOUGH~!  Thank you... it is a game of survive to thrive and you demonstrate it's use.