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Topic: GDX (Read 238 times) previous topic - next topic

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  • Nikko
  • [*][*][*][*][*]
Re: GDX
Reply #30
ahhh...I love it when the bulls on the silver stocker chart are so bearish. I will remind most that I was one of the only beast calling for capitulation and 145 HUI. Now that its here, most are calling for doom. It wont happen IMO. We are very very close to bottom and a massive move will now happen without any stop. The perfect scenario IMO.

  • ken
  • [*][*][*][*][*]
  • Global Moderator
Re: GDX
Reply #31
ahhh...I love it when the bulls on the silver stocker chart are so bearish. I will remind most that I was one of the only beast calling for capitulation and 145 HUI. Now that its here, most are calling for doom. It wont happen IMO. We are very very close to bottom and a massive move will now happen without any stop. The perfect scenario IMO.
Watching and waiting. You may very well be right.

Re: GDX
Reply #32
ahhh...I love it when the bulls on the silver stocker chart are so bearish. I will remind most that I was one of the only beast calling for capitulation and 145 HUI. Now that its here, most are calling for doom. It wont happen IMO. We are very very close to bottom and a massive move will now happen without any stop. The perfect scenario IMO.

If you are referring to my chart, I was only posting a supporting thought for lower prices saying it might go lower, not my position though, I invested half my cash yesterday and today. I do not have your skills picking bottoms and tops so I have been dollar cost averaging for the last couple years while building a cash position as well. It will work out for me, not as rewarding as your strategy, but plenty well enough. Good luck to you, I am off to the sandy beach for a couple cold ones.

  • Nikko
  • [*][*][*][*][*]
Re: GDX
Reply #33
Im kidding of course...but I always said we needed capitulation in order to have a REAL rally. This is capitulation.
You have no idea how difficult it was for me to watch AG and EXK rally 50%...but I stayed the course and they are now both back at their 52 week lows. And I am buying GDX and ABX at 2 year lows. I DO NOT believe that the 2015/2016 lows will be breached as that was a capitulative low. ( I made 400% on that move on AG )
Patience is the key to making money...I have learned that from 25 years of trading. I waited and waited with my tgt and now have gone long.

Re: GDX
Reply #34
COT chart for gold is interesting. Curves have never been pinched this tight over the past six years, but they did get close twice in 2014 and twice in 2016 to include the modern low for gold price. This is a confirming signal that an up turn is present.


Re: GDX
Reply #35
COT chart for gold is interesting. Curves have never been pinched this tight over the past six years, but they did get close twice in 2014 and twice in 2016 to include the modern low for gold price. This is a confirming signal that an up turn is present.



Another article with charts on COT with more perspective:

http://www.talkmarkets.com/content/us-markets/large-specs-net-short-gold-first-time-since-2001-buckle-up?post=187098

  • Nikko
  • [*][*][*][*][*]
Re: GDX
Reply #36
ALL IN.
100% of my long position is in now..bought some premarket GDX and ABX.
My position is 65% GDX and 35% ABX...sticking to these 2 biggies.
ABX cost is 13.05 avg
GDX cost is 18.78 avg.
I do not think the old 2015/2016 lows will be challenged and believe we either hit bottom or are within 5-10% of bottom. KI also believe that the move up will be non stop. GL all. This is what we have been waiting for.


  • Erich 
  • [*][*][*][*]
Re: GDX
Reply #37
Getting closer everyday.  Classic contrarian headline.
https://finance.yahoo.com/news/gold-investors-hope-biggest-short-120444589.html

Re: GDX
Reply #38
Thanking SandybeachDave for his unique insight and technical expertise in looking for direction in PM's Longterm and Short term~!

  • Erich 
  • [*][*][*][*]
Re: GDX
Reply #39
All in on EXK 2.17 still have plenty of dry powder in case we get another slam down.
GLTA Long EXK and cash