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Topic: July (XAG, XAU, GDX, GDXJ & USDJPY) (Read 669 times) previous topic - next topic

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  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #30
GDX looking for a pop!


Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #31
Looks like we did not get your pop Ken, here is another look at it with a little more data. Our trend lines are not exactly the same as you have a reconciliation intersetion in August and mine is in late July, but the gistis the same.



RSI and MACD are not indicative of a bounce, nor is the violation of the lower trend line. %BB is a little encouraging as itappears the pinching is nearing a minimum, confirming the reconcilation for a move one way or the other. I am still thinking we get a little more down trend honoring the MACD, RSI, and trend line violation, but by early August, even late July, I believe we get a break to the upside that has some legs. This should allow the MACD and RSI to mature into shifting from bear to bull orientation and honor what I consider as positive fundamentals for the PM space, not withstanding non free market influence like we had early last week.

Hope everyone had a good and safe holiday

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #32
In search of key lines and how silver's looking  to me right now.

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #33
Downward trend for silver. Gold trend-lines still show upward movement for now. Can we get the gold/silver ratio spread soon?

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #34
AN interesting graph, I am trying to get itto post as a chart and not a link, we will see in a minute.


Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #35
Silver does not look so good, PSAR looks like the down run has a week or two of legs, MACD looks ugly and BB's while at a pinch point, may stay there for a while or open up with an additional down move.



Gold does not look so shiny either. It could be a reflection of capitulation out of PM's or it could be signaling more pain. I am holding my positions and will continue to write options for income to dollar cost average into more shares of quality companies, favorites being PVG and BTG at the moment.


Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #36
I feel this is significant and should be taken into consideration for long term expectations. This type of magnification (tail) as I understand it from an earlier post about how it occurs in relation to physical. Historically it reveals an eventual flattening of the channel leading into a down-slide. The bounce back appears to be about a 3 to 5 month duration. A recovery to the likely value of 17.70 would certainly be met with extreme volatility and testing IMO. Bottom line, the outlook doesn't look good with this extreme tail in place. GL.

  • Erich
  • [*][*][*][*]
Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #37
More "fat finger games" being played ln the silver market last night. Feels like a big move is coming
ER

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #38
Look at the dollar/yen chart at 5 minutes. Spike city....

Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #39
lots of spiking but in the end, not much movement at this posting. Jobs much better than I expected.


  • Erich
  • [*][*][*][*]
Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #40
Stopped out of AG with a 10% loss. Still holding AG and SSRI. Shorts  keeping pace with my long positions. Cash
is king.

  • Nikko
  • [*][*][*][*][*]
Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #41
Bought a good chunk AG at 7.19
Bought NUGT 26.90

IMO we turn around starting today.

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #42
Stopped out of AG with a 10% loss. Still holding AG and SSRI. Shorts  keeping pace with my long positions. Cash
is king.
AG has to be at the bottom. Looking to buy Monday perhaps. Still in cash at this point.

  • Nikko
  • [*][*][*][*][*]
Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #43
I have stops in 4% lower...If AG can't hold around here...it could go a lot further down.

  • Erich
  • [*][*][*][*]
Re: July (XAG, XAU, GDX, GDXJ & USDJPY)
Reply #44
Bought a good chunk AG at 7.19
Bought NUGT 26.90

IMO we turn around starting today.
Bold call. I see no reason for a turnaround. Hated to dump the AG but my rules are in place to protect myself. Net short at the moment.  ER.  Adding to SSRI will be my next play.